Aluminium business – level 1
Aluminium is a light silver metal. In March 2022, its price very high. Now, the price of aluminium is 40% lower.
Many reasons influence the situation. First, banks in all the world raise their interest rates. Metals become more expensive. The cost hurts building companies. Companies buy less aluminium.
Second, the war in Ukraine has hurt business in Russia. Prices are growing. People cannot easily say what will happen.
Experts at the London exchange see people can buy more aluminum now. They think that some companies sell aluminium from Russia. They want to sell it quickly.
Difficult words: influence (to have an impact on something), interest rate (how much money a bank wants when someone borrows money from it), exchange (a place where companies make business with a specific material or product).
You can watch the original video in the Level 3 section.
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