Aluminum Heads For Biggest Weekly Increase…

LONDON, March 4 (Reuters) - Worries about supply from Russia pushed industrial metals prices still higher on Friday, with nickel heading for its biggest weekly gain since 2009 and aluminium for its largest ever.

Benchmark aluminium CMAL3 on the London Metal Exchange (LME) was up 2.6% at $3,812 a tonne at 1152 GMT and up around 14% this week. It is trading at record highs.

LME nickel CMNI3 was up 5.4% at $28,350 and have gained around 16% this week. Prices are the highest since 2011.

“The market is in a panic mode in terms of supply,” said Gianclaudio Torlizzi, a partner at consultants T-Commodity, adding prices would keep rising while conflict raged in Ukraine.