Markets: The decline in aluminum prices globally will offset the increase in electricity
The global decline in metals in the London Stock Exchange over the past month, as aluminum prices fell by about $ 100 per ton to $ 1,762 per ton compared to $ 1854 per ton a month ago, offset the expected increase in prices of aluminum after the price increase Electricity.
ASWAQ said in its daily report that the decline in the US dollar against the pound, in addition to the decline in global metal prices, will be a barrier to any internal increases that will occur as a result of the high cost, especially that aluminum is one of the most intensive industries for energy consumption, The final product ranges from 30-50%.
The Ministry of Electricity announced that the prices of the consumption segments will be moved as part of the government's plan to eliminate the burden of support in the sector. The margin of the new increase is 20% on average for domestic consumption, while the prices of the commercial sector are at an average of 14%, and the industrial sectors, including the iron industry, 10% , Making it the lowest increase over the past four years.
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