Aluminium jumps on supply worries

Aluminium prices rose on Monday after Australia's announcement to ban exports of alumina and aluminium ores to Russia exacerbated fears of supply disruption of the lightweight metal, reports Reuters.
The move will limit Russia's capacity to produce aluminium, one of its critical exports, the Australian government said.
"This could see Russia having to rely on China for any shortfall in alumina," ING said in a note.
Russia accounts for about 6 per cent of global supply of aluminium and 10 per cent of nickel, and is a major producer of natural gas used to generate electricity that powers production of metals.
German aluminium maker Trimet will cut production at its main factory in Essen by half in the coming weeks amid huge costs for the energy-intense production process.
Three-month aluminium on the London Metal Exchange (LME) climbed 3.7 per cent to $3,507 a tonne by 0940 GMT, after hitting a peak since March 10.