Category: Aluminum

Aluminum MMI: Aluminum Prices Retreat after Failing to Break 2023 High

Aluminum MMI: Aluminum Prices Retreat after Failing to Break 2023 High aluminum-ingots-aluminum-industrial-production-material-pi

Overall, the Aluminum Monthly Metals Index (MMI) rose 7.06% from April to May. The aluminum price remained bullish throughout April, rising 11.47% month over month. However, prices found a peak on April 22 when they failed to break above their 2023 high. They then retraced to the downside during the remainder of the month and […]

LME and CME Russian Metal Ban Prompting Speculation About Market Fragmentation

LME and CME Russian Metal Ban Prompting Speculation About Market Fragmentation

By now, anyone in the metals market will know that the U.S. and UK recently banned the consumption of Russian aluminum, copper, and nickel produced from April 13 onward. While metal already on the London Metal Exchange (LME) and the Chicago Mercantile Exchange (CME) are still available for consumption, no metal delivered after this date […]

LME’s Russian Metal Ban Shifts Global Metal Trade Dynamics

LME’s Russian Metal Ban Shifts Global Metal Trade Dynamics

China will undoubtedly become an even more significant buyer of Russian metals following the London Metal Exchange’s ban on newly produced Russian aluminum, copper, and nickel. China has already evolved into a major market for Russian-made products following dwindling demand in the West, and these new Russian sanctions will likely only further cement that position. […]

Aluminum MMI: Prices Inch Toward 2023 High Amid China Supply Cut

Aluminum MMI: Prices Inch Toward 2023 High Amid China Supply Cut Aluminum mill and aluminum prices

Overall, the Aluminum Monthly Metals Index (MMI) remained sideways, with a 2.03% rise from March to April. Aluminum prices outperformed all base metals throughout March, with a 4.71% rise from the close of February. Prices continued their rally throughout April, hitting their highest level since February 2023 by April 8. Aluminum Prices Chase 2023 Highs […]

Aluminum MMI: Aluminum Prices Rise As China Output Slows

Aluminum MMI: Aluminum Prices Rise As China Output Slows Aluminum smelting and ingot

Aluminum prices remain entrenched within a sideways trend. Following a 2.78% month-over-month decline in February, prices retraced throughout the first three weeks of March to where they currently stand: 2.17% above their February close. Overall, the Aluminum Monthly Metals Index (MMI) moved sideways, with a 2.36% decline from February to March. AI vastly improves your […]

European Aluminum Industry Faces Existential Threats

European Aluminum Industry Faces Existential Threats EU and chipping containers

The European aluminum manufacturing industry is under attack from two short- and medium-term threats, both of which have the potential to significantly impact aluminum consumers across the region. Threat #1: Potential Russian Aluminum Ban, Aluminum Manufacturing Shortage The first threat is the widely debated possibility of the EU banning Russian aluminum. While the UK has […]

China’s Aluminum Exports to EU Plunge 30% Under Carbon Tariff

China’s Aluminum Exports to EU Plunge 30% Under Carbon Tariff

Earlier this week, the China Nonferrous Metals Industry Association reported a 30% decline in the volume of aluminum products exported from China to the European Union. Aluminum manufacturing analysts quickly pointed out that this most likely resulted from the bloc’s 2023 carbon border tariff. The EU’s Carbon Border Adjustment Mechanism (CBAM) represents a new way […]

Aluminum MMI: Aluminum Prices Sideways After U.S. Smelter Closure

Aluminum MMI: Aluminum Prices Sideways After U.S. Smelter Closure aluminum smelting, price of aluminum

Following a 4.7% month-over-month decline during January, aluminum prices fell an additional 1.9% throughout the first half of February. Despite these declines, aluminum prices continued to trade in their long-term sideways range. Meanwhile, the Midwest Premium also remains consolidated, with prices retracing to the downside following a short-lived bounce at the end of January. Overall, […]

Aluminum Market Projections for 2024: Stability Amidst Economic Uncertainty?

Aluminum Market Projections for 2024: Stability Amidst Economic Uncertainty?

Recently, I had the pleasure of interviewing Hydro, a green aluminum producer with multiple plants and locations around the globe. Mike Stier, Hydro’s Vice President of Finance, and Duncan Pitchford, President of Hydro Aluminum Metals in the U.S. (whom I’ve had the pleasure of interviewing before), sat down to discuss Hydro’s views on aluminum performance […]

Will Electric Cars Benefit or Threaten Europe’s Aluminum Industry?

Will Electric Cars Benefit or Threaten Europe’s Aluminum Industry?

Are electric cars going to benefit or threaten Europe’s aluminum industry? At first, it might appear a stupid question. However, it is also one that aluminum industry news sources continue to ask. The average European EV contained 283kgs of aluminum in 2022 compared to 169kgs for ICE vehicles. That is according to a study by […]

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