Aluminum prices rose to their highest level in 10 years on Monday after a military coup in mineral-rich Guinea threatened to thwart the light metal's supply chain.
Three-month aluminum futures contracts on the London Metal Exchange rose 0.9% to $ 2,757 per ton, the highest level since early 2011.
The shares of mining companies and aluminum producers also rose. Hong Kong listed shares of Russia's United Co. Rusal
rose over 14% to close on Monday, while Aluminum Corporation of China Ltd. rose by over 5%. The Australian bauxite miner South32 Ltd. gained 2.1% in Sydney.
A faction in the Guinean military said on Sunday that it had suspended the country's constitution and arrested President Alpha Condé. The West African nation is a major global supplier of bauxite – critical to the production of aluminum – and iron ore.
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