CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

BREAKING: Aluminium surges nearly 5.0% as US considers banning imports from Russia

16:04 12 October 2022

White House is considering a ban on Russian aluminium in response to Kremlin military escalation in Ukraine. This metal was not subject to earlier sanctions due to its importance in production processes in many industries. The White House is taking into account three options: an outright ban, increasing tariffs to levels so punitive they would impose an effective ban, or sanctioning the company that produces the metal, according to Bloomberg.

Any of these actions could force key industries into rush for replacements, especially that Alcoa, the largest US aluminum producer, has recently warned investors that high energy and raw material costs and a fall in aluminum prices are putting pressure on margins. Century Aluminum, the second largest domestic producer, announced in June that it would close one of its US plants and lay off over 600 workers due to rising energy costs.

Start investing today or test a free demo

Open real account Try demo Download mobile app Download mobile app

Aluminum is trading around the $2,300 per ton, down almost 50% from a record peak reached in March. Price rose sharply during today's session, however only a decisive break above the major resistance zone around $2400 would indicate a potential shift of market sentiment. This level is marked with an upper limit of the 1:1 structure, 61.8% Fibonacci retracement of the upward move launched in March 2020 and local downward trendline. Source: xStation5

This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

Back