The news caused aluminium prices to skyrocket, and they have continued to do so over recent days, with Tuesday seeing a 5% rise in prices. Aluminium is trading at around $US2,400 per ton.
Prices have been further boosted by President Trump threatening to levy further tariffs on Russia as a result of the recent chemical weapons attack in Syria. Trump has condemned Russia and Iran for supporting Syrian President Bashar al-Assad.
Aluminium initially fell in March after President Donald Trump announced tariffs on Chinese steel and aluminium imports, but exempted Canada and Mexico from similar import taxes.
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