Aluminium has risen to its highest level since 2011 due to sanctions against RUSAL

© RIA Novosti / Ramil to Setdiscoverable in photobacteria the Central office of the Management company RUSALAluminium has risen to its highest level since 2011 due to sanctions against RUSAL© RIA Novosti / Ramil to Setdiscoverable the image Bank

The value of futures for aluminium on the London metal exchange rose to its highest level since 2011 amid risks of cancellation of the supply and shortages due to U.S. sanctions against the company «RUSAL», according to the auction.

On Monday, the metal has risen to 2377,5 dollars per ton, updating the seven-year maximum. Only last week, the cost has risen by 12%.

In early April, Washington had extended the anti-Russian sanctions. In the «black list» were the big businessmen and their companies, including Oleg Deripaska and under control to it En+ Group, GAS, Basic element and RUSAL companies.

Later, several contractors RUSAL announced the revision of contracts. Australian-British Rio Tinto, in particular, announced that it will declare force majeure under certain contracts due to the actions of the U.S. Treasury.

It was also said Swiss commodities trader Glencore is the largest buyer of aluminium «RUSAL». According to analysts, traders fear that the company will reduce production and will exacerbate the deficit, which is observed on markets outside China.

On Monday RUSAL shares on the Hong Kong stock exchange lost more than 30%, setting a record 1.42 Hong Kong dollar. Still the lowest score at the site was considered the price of 2.09 per share «Rusala» (June 12, 2016), to 2.13 (January 17, 2016) and 2.19 of the dollar (17 November 2013).

Aluminium has risen to its highest level since 2011 due to sanctions against RUSAL© RIA Novosti, Infographicsrussia against Russia and international trade

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