Ukraine War Sends London Aluminum, Nickel Prices on Wild Ride

What’s new: All eyes were on prices of aluminum and nickel ahead of their opening in London on Monday, after supply concerns amid Russia’s invasion of Ukraine and subsequent Western sanctions whipsawed them last week.

The aluminum price on the London Metal Exchange (LME) jumped 3.1% to close at $3,395 per ton on Thursday, a historical high, before sliding 1.1% the next day. Prices of nickel also gained 1.3% to hit a near 11 year high of $24,716 on Thursday, and then dropped 1.4% on Friday.