Aluminium emerged as the winner among base metals last week
Aluminium emerged as the winner among base metals last week

10 June 2024 – Aluminium emerged as the winner among base metals last week – supported by sanctions and shortages. And ‘Business as usual…’ has been clearly rejected by voters in the European elections. Especially in France and Germany. Self-proclaimed centrist parties must now react.

Aluminium wins the week in base metal prices

The weekly winner in the base metals last week was aluminium with a gain of around 4.27% in the LME 3-month cash prices. On the investor side, long-term investors continue to predominate, whose investments are likely to continue to be supported by the sanctions against Russian aluminium and the global shortage of the light metal, according to analysts.

The European Union has voted and voted out ‘Business as usual…’

Evil remains evil, even if it is supposed to be the lesser evil. The first voices after the European elections therefore give us pause for thought, as another term in office for the current EU Commission President would be a ‘Business as usual’. And the fact that ‘business as usual’ has not worked in France and has also met with little favour in Germany should be easy to see from the significant shift to the right.

Self-proclaimed centre parties must react now

We believe that the responsibility for this lies very clearly with the self-proclaimed centre parties, which, at least in Germany, do not want to take the mood of the people seriously. What can happen in the long term with such an attitude was seen a hundred years ago and must be prevented at all costs. But this also means admitting to own mistakes, finally listening to the voters and drawing the consequences.

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