Price of Aluminum Skyrocketing Skip to content

Price of Aluminum Skyrocketing

The price of aluminum has increased considerably recently, which is one of the main products of heavy industry in Iceland. On Monday one ton of aluminum cost USD 3,200 (EUR 2,100) and has not been higher for three months.

According to ruv.is, the current price of aluminum is approaching the all-time record of USD 3,300 (EUR 2,100) for one ton of the metal.

Glitnir Bank has issued a report explaining that the high price of aluminum is caused by, on the one hand, shortage of electricity, especially in China, and on the other, rising oil prices.

The price of aluminum has risen by more than 30 percent since the beginning of 2008.

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