Aluminum is a raw material widely used in the world. This metal is used for the production of packaging (including for food), as well as in construction, automotive and household appliances. Due to the global pandemic and the looming economic crisis, China began to feel the shortage of aluminum. This has led to an increase in the import of aluminum by the Middle Kingdom, which in the long run may result in shortages of material in warehouses all over the world. Meanwhile, a Vietnamese warehouse rests 1.8 million tons of metal, worth around $ 5 billion.
Why, in the face of the shortage of raw material, so much of it did not arouse interest? The reason is the origin of this aluminum. It had been confiscated while the US investigation into trade fraud was pending. A possible introduction of these metal stocks to the market would probably be able to cover this year’s raw material deficit. At the same time, a sudden sell-off would cause a gigantic drop in the value of aluminum. Ross Strachan, a CRU analyst, argues that the release of raw material reserves will not in the least translate into an improvement in the situation among customers. Well, irrespective of the result, the average consumers are likely to suffer, as they will pay more not only for computer equipment, but also for a can of a drink for a session with their favorite game.
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