Aluminum, copper and palladium hit new all-time highs

Along with energy prices, those of metals produced in Russia have risen, with the aluminum surpassing for the first time the barrier of 4,000 dollars per ton, while the copper and the palladium have reached new all-time highs: $10,845 per tonne and $3,442.47 per ounce, respectively.

For his part, the european brent oil It was trading this morning around 126 dollars on the London futures market after having reached 138 last night, a maximum since 2008, in a moment of panic due to fears of the difficult supply due to the war in Ukraine.

Since February 24, when Russia launched the conflict, North Sea crude has risen more than 34% and is now nearing its all-time high of over $146 reached in early July 2008.

This new rise in Brent comes after the United States said this weekend that it is analyzing with the European Union (EU) to ban the import of oil from Russia, in another attempt to suffocate the Russian economy in retaliation for the war in Ukraine. .

The futures contracts natural gas traded on the Dutch platform TTF have come to quote this Monday at 345 euros/MWh, although throughout the morning they have been relaxing and have fallen to 249 euros, although it continues to suppose an increase in cost of more than 50 euros in relation to the settlement of last Friday (192.55 euros/MWh).

The increase in the price of gas is also being noticed in other European wholesale markets, such as those of Germany, Belgium, France, Italy, Portugal and the United Kingdom, in which today the average exceeds 400 euros/MWh.

Compared to just a year ago, the price of the ‘pool’ for this Monday will be 901.25% higher than the 54.43 euros/MWh of March 8, 2021. That is, it will be ten times more expensive than a anus.

The International Energy Agency (IEA) states that “Russia’s attack on Ukraine has highlighted Europe’s dependence on Russian natural gas.” Russia accounted for around 45% of EU gas imports in 2021 and almost 40% of its total gas consumption.