LME monitors tightness in aluminum market after spike in spread
The London Metal Exchange (LME) is tracking tightness in the aluminum market, which has seen a key spread shoot to a sizeable premium and one party amass a large long or bullish position in the October contract.
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Canada to hit Chinese steel and aluminum with tariffs on Oct. 22
Canada published a list of dozens of Chinese steel and aluminum products on which it will place a 25% tariff, starting in three weeks.
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Firms substituting cheaper aluminum for copper, trend growing
Some companies in Asia and Europe are starting to substitute cheaper aluminum wire for copper and the trend is due to gain momentum as copper prices are expected to see further gains, consultancy CRU said on Tuesday.
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Elevated alumina prices to feed on China aluminum producer profits
Healthy demand and improving power supplies will create strong tailwinds for aluminum output in China, while tightening supplies and lifting prices of raw materials bauxite and alumina will constrain producer profits.
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Aluminum spread jumps again as traders eye Trafigura position
A squeeze in the aluminum market showed signs of intensifying, adding pressure on traders caught out by a spurt of buying by Trafigura Group and a warehousing company’s controversial decision to hike a key fee.
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China’s hydropower surge raises aluminum production to a record
China’s aluminum production hit a record last month as smelters brought back idled capacity, potentially setting up the market for further declines after prices hit a two-year high in May.
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LME aluminum queue jumps to five months after Trafigura delivery
The wait to take delivery of aluminum on the London Metal Exchange went from zero to more than five months after a massive delivery of metal from Trafigura Group in May.
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Aluminum market set for wave of scrap as industry decarbonizes
Recycled metal will drive a massive wave of aluminum that’s about to hit global markets, as the industry comes under more pressure to decarbonize.
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Visit: 100
Aluminum market set for wave of scrap as industry decarbonizes
Recycled metal will drive a massive wave of aluminum that’s about to hit global markets, as the industry comes under more pressure to decarbonize.
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Visit: 74
Aluminum producer Novelis hits pause on $945 million US IPO
Aluminum producer Novelis Inc. has postponed a plan to raise as much as $945 million in an initial public offering that would have been one of the biggest listings in the US this year.
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Aluminum recycler Novelis targets up to $12.6bn valuation in US IPO
Novelis, owned by Indian billionaire Kumar Mangalam Birla’s Hindalco Industries, is targeting a valuation of up to $12.6 billion in its initial public offering in the United States, the aluminum products maker said on Tuesday.
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Trafigura faces off with aluminum bulls over huge metal stash
The aluminum market is caught in a clash between some of the biggest traders and banks, with more than $1 billion of metal changing hands while lengthy queues form at London Metal Exchange warehouses.
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Glencore, Rusal extend aluminum supply contract into 2025
Swiss-based trading house Glencore and aluminum producer Rusal have extended their long-term supply contract into next year after the amount traded so far has amounted to a fraction of the agreement’s maximum volumes, a source with direct knowledge said on Wednesday.
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Vietnam to invest $7.3bn to boost alumina, aluminum production
Vietnam’s top miner Vinacomin plans to invest 182 trillion dong ($7.3 billion) to ramp up its alumina-aluminum production to meet the country’s rising demand for the metal, the government said on Tuesday.
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Aluminum price firms to 11-week high on Yunnan doubts, firm technicals
Aluminum prices touched an 11-week high on Monday over concerns over slow recovery in production in China’s Yunnan province and supported by a strong technical outlook.
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US imposes preliminary duties on aluminum extrusions from China, Indonesia
The US Department of Commerce announced on Tuesday preliminary countervailing duties on aluminum extrusions from China, Indonesia, Mexico and Turkey, citing unfair subsidies.
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New process turns scrap aluminum into usable construction materials
Twisted aluminum mesh, banged-up bicycle frames and used car parts languishing in junk yards could gain new life as building structures such as door and window frames, facades, lighting and decorative features thanks to a new patent-pending technology developed at the US Department of Energy’s Pacific Northwest National Laboratory (PNNL).
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Rio Tinto taps Australia’s largest solar farm to power aluminum assets
Rio Tinto on Wednesday announced a deal to buy power from a new solar farm in Queensland as it seeks to green its aluminum operations on the country’s east coast and halve its direct and indirect emissions by 2030.
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Aluminum price jumps after report EU may sanction Russian metal
Aluminum rallied in London after Politico reported that the European Union is considering sanctions on Russian aluminum ahead of the second anniversary of the invasion of Ukraine.
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Share of Russian aluminum in LME warehouses rises to 90% after UK curbs
Mining News Pro - The share of available aluminum stocks of Russian origin in London Metal Exchange-approved (LME) warehouses rose to 90.4% in December from 78.8% in November, data on the exchange’s website showed on Wednesday.
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Biden extends EU steel, aluminum tariff exemption for 2 years
Mining News Pro - US President Joe Biden on Thursday extended the suspension of tariffs on European Union steel and aluminum for two years to continue negotiations on measures to address overcapacity and low-carbon production.
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Some Japan buyers agree to pay Q1 aluminum premium of $90/t, down 7% Q/Q
Mining News Pro - Some Japanese aluminum buyers have agreed to pay global producers a premium of $90 per metric ton over the benchmark price for shipments in January to March, down 7% from the current quarter, three sources directly involved in the pricing talks said.
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Biden extends EU steel, aluminum tariff exemption for 2 years
Mining News Pro - US President Joe Biden on Thursday extended the suspension of tariffs on European Union steel and aluminum for two years to continue negotiations on measures to address overcapacity and low-carbon production.
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Aluminum price hits weakest in more than three months on fund selling
Mining News Pro - Aluminum prices touched their lowest in more than three months on Monday as speculative funds stepped up selling on expectations of rising inventories.
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Aluminum price climbs as Goldman sees larger supply deficit
Mining News Pro - Aluminum steadied, bucking a broader slide among industrial metals, with traders focusing on a likely shortfall in supply of the metal next year amid constraints on Chinese supply.
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