Global: LME aluminuim hits 1 Month high amid EU sanctions on Russia

Aluminium prices on the LME reached a one-month high as EU envoys agreed to ban Russian primary aluminium imports. The price surged by 1.1%, reaching $2,730/t. The ban, effective in a year, follows previous reductions in Russian imports. Additionally, LME stocks dropped to 543,900 t, their lowest since May 2024, falling by 50%, tightening supply and further boosting prices.