Week in Review: Oil recovery awaits OPEC deal; construction spending up 6%; aluminum stocks remain elevated

Fouad Egbaria | Posted on April 10, 2020 |

Before we head into the weekend, let’s take a look back at the week that was and some of the metals storylines here on MetalMiner, including coverage of: oil prices; construction spending; automotive sales; precious metals; aluminum stocks; and much more.
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Stuart Burns checked in on the oil price situation at the outset of the week.
U.S. construction spending jumped 6% in February compared with February 2019 spending.
The coronavirus outbreak has put immense strain on ties between members of the E.U. bloc.
The automotive industry is one of several to have felt serious impacts from the coronavirus outbreak.
Australia’s Lynas Corp. announced a temporary pause of its processing operations in Malaysia.
Indian steel majors have opted to slash output amid falling demand.
It’s been an up and down month for precious metals, which have seen some gains amid falls elsewhere but have also fallen victim to their own success.
Aluminum continues to be churned out despite lagging demand.
Any potential recovery of the copper price is being limited by weak demand.