World News for Students of English

31-10-2022 07:00

In March 2022, prices of aluminium reached record levels, but since that time, they decreased over 40%. A few reasons explain why it happened.

The first reason is rising interest rates in the world, which influence the prices of materials. Metals became very expensive, which had an impact on the building business. The need for metals went down, but some companies made profits.

The second reason is the war in Ukraine and Russia’s business with the EU. People cannot easily predict how the situation will develop, and many things influence the business, for example, China’s need for metals.

Currently, experts at a London trading area see that more aluminium is for sale. Some people believe that companies are getting rid of Russian aluminium.

Difficult words: interest rate (the money a bank charges someone who borrows money), profit (money which a business earns), get rid (to throw away or destroy something that you don’t want anymore).

You can watch the original video in the Level 3 section.