Raw material prices rise amid confidence boost
Morgunblaðið quotes Brynjólfur Stefánsson from Iceland Funds as saying the increased demand for aluminium is largely down to China and other countries in East Asia being further along the road to recovery than Europe and North America.
Recent price increases are good news for aluminium producers, though conditions remain tough due to increased supply—especially from Chinese smelters.
Brynjólfur predicts oil prices will rise, but not by much.
Jón Bjarki Bentsson, the chief economist at Íslandsbanki, agrees, telling Morgunblaðið there definitely appears to be a link between rising prices and news from vaccine developers.