India US trade is primed to shift. Both countries seem eager to enter a new period of trade harmony, as India’s Ministries of Mines and Steel, along with the Department for Promotion of Industry and Internal Trade (DPIIT), recently set up an in-house system to oversee the export of steel and aluminum products to the […]
Tag: Aluminum
UK to Impose Carbon Tax for Steel and Aluminum Production
HM Treasury recently announced that the UK plans to enact a carbon tax on certain metals and natural resource imports into the country by 2027. The December 19 announcement said that steel, aluminum, and iron ore will be subject to the tax. This tax is currently known as the Carbon Border Adjustment Mechanism (CBAM). “Goods […]
Green Aluminum Market: Insight From Hydro’s Duncan Pitchford
Aluminum supply remains a major topic of discussion among metal buyers. Traditional smelting and metal manufacturing remain the most widely used metal manufacturing methods worldwide. However, “green” metal initiatives have witnessed growth in recent years. Recently, I interviewed representatives from Norsk Hydro, a recycled and green aluminum company based out of Norway, to gain insight […]
Conflicting Reports Signal Chinese Aluminum Supply Uncertainty
Conflicting reports continue to emerge from China regarding aluminum supply, demand, and production. Some information notes that the downturn in the country’s economy is largely due to the ongoing real estate crisis. As demand wanes, this poses questions regarding the internal pickup of aluminum and other base metals. However, other reports talk of the country […]
Aluminum MMI: Aluminum Prices Sideways as UK Sanctions Leave Market Uncertainty
Aluminum prices continued to trade sideways during November and the first three weeks of December. Amid the long-term consolidation, prices sit only 6% beneath where they stood at the start of the year. Overall, the Aluminum Monthly Metals Index (MMI) remained sideways, with a modest 0.34% decline from November to December. MetalMiner’s 2024 Annual Metals […]
Construction MMI: Construction Spending Rises but Construction Index Falls
The Construction MMI (Monthly Metals Index) strayed from its sideways trend to drop 6.84% month-over-month. A drop in European commercial aluminum 1050 sheet prices was the main culprit in the index’s decline. Construction news sources indicate with steel prices finally flattening out in recent weeks, the index could face further bearish pressure. Despite this, construction […]
Aluminum MMI: Aluminum Prices Sideways as Premiums Remain Bearish
Although they fell 4.29% throughout October, aluminum prices remain trapped within a sideways trend established back in July. Prices retraced from their late-September spike but failed to create a lower low. Therefore, they continue to move within a tight range. Overall, the Aluminum Monthly Metals Index (MMI) remained sideways, with a modest 0.72% decline from […]
India’s Aluminum Appetite Surges: How Will This New Global Player Affect Aluminum Prices?
In an otherwise down market staring at a slow recovery in 2023, only India stands apart from the rest of the world in terms of aluminum production and consumption. Indeed, the government’s push for new infrastructure, especially for green energy, continues to drive domestic consumption and overall stability for aluminum prices. The country is already the […]
Aluminum MMI: Hydro Bets Big on Lower Carbon Aluminum, Aluminum Prices Remain Mostly Flat
LME aluminum prices edged sideways throughout August, with a modest 1.69% month-over-month rise. Meanwhile, prices show little bullish or bearish momentum as they continue to trade within a tight range. Overall, the Aluminum Monthly Metals Index (MMI) continued to move sideways as well, rising a modest 0.79% from August to September. Get valuable market trends, […]
Desperate Move? Russia Importing Aluminum Oxide from India Amidst Shortage
A somewhat desperate Russia has made some interesting moves relating to its need for aluminum oxide, also known as alumina. Recent reports indicate that the country began importing alumina from India several months ago. This is in addition to China, which already supplied aluminum oxide to Russia’s Siberian plants. Obviously, Russia found itself on a […]
