The London Metal Exchange (LME) will double its clearinghouse default fund from the current amount in April, from the current US$1.1 billion to US$2.075 billion, which was obviously to lower the risk of member default in the metals market with sharp increases in prices this year, such as the surge in nickel prices occurred in early March.

Aluminum, as one of the traded metals on the LME, was worried as the price of this metal was expected to soar in the near future on concerns about supply, especially Russia’s invasion of Ukraine has interrupted supply lines in and out of Russia.