Week in Review: Aluminum prices reach 10-year high

Before we head into the weekend, let’s take a look back at the week’s news and some of the metals storylines here on MetalMiner: Aluminum prices reach 10-year high while a coup in Guinea threatens to disrupt global bauxite supply, China-Australia iron ore trade surges ahead despite ongoing tensions; and see MetalMiner’s analyst-driven Monthly Metals Index updates for aluminum, raw steels, copper, stainless.

News for the Week of Sept. 7-10

• Our Aluminum Monthly Metals Index (MMI) report from Analyst Maria Rosa Gobitz shows rising aluminum prices reaching highs not seen since 2011.
• Meanwhile, MetalMiner’s Stuart Burns discusses the outlook for aluminum prices in a green future.
• Sweden’s SSAB has announced plans to collaborate with two automotive groups on the potential supply of fossil-free steel, MetalMiner’s Christopher Rivituso reports.
• MetalMiner’s Sohrab Darabshaw reports on the state of the iron ore trade between China and Australia amid ongoing diplomatic tensions.
• Steel capacity utilization declines to 84.5% while U.S. construction-sector jobs decline from July to August, MetalMiner Editor Fouad Egbaria reports.
• Copper prices trend downward despite hurdles in Chile, Analyst Maria Rosa Gobitz explains in this month’s Copper MMI.
• Meanwhile, in this month’s Raw Steels MMI, the index drops after a 14-month climb while a merger between Chinese steelmakers Ansteel Group and Ben Gang set to form the world’s third-largest steelmaker.
• The Stainless Monthly Metals Index remained flat while both NAS and Outokumpo announce price increases, Maria Rosa Gobitz explains.
• A coup in Guinea threatens to disrupt global bauxite supply as aluminum prices reach 10-year high.
• Lastly, in a bid to aid domestic refiners amid steep energy costs, China announced plans to release and auction crude oil from its strategic reserves.

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