Higher is the simple answer. The world with the exception of China was in deficit before U.S. sanctions against Oleg Derispaska and his aluminum company Rusal. So when the three million tons of primary metal Rusal exports outside of Russia are taken out of a market already worried by the recent partial closure of Norsk […]
Category: Non-ferrous Metals
Week in Review: Aluminum, KORUS and Section 232
Happy Friday, MetalMiner readers! Here’s a look back at this week’s top stories. Need buying strategies for steel? Try two free months of MetalMiner’s Outlook A number of aluminum associations around the world wrote a joint letter urging G20 leaders to hold a forum on global aluminum overcapacity at this year’s G20 Summit, scheduled to […]
This Morning in Metals: Alcoa Shares Jump 4%, Companies Seek Waivers from Section 232 Tariffs
This morning in metals news, there has been a flood of applications from U.S. companies for exemptions from the Section 232 tariffs. Nickel prices reached a three-year high, stoked by fears of more sanctions, and Alcoa shares jumped in after-hours trade following rosy Q1 results. Need buying strategies for steel? Try two free months of […]
Mid-April Metals Analysis: Aluminum, Copper and Nickel Prices Rise, Other Base Metals Fall
Numerous factors weigh heavily on the base metals and commodity complex: the Chinese copper scrap ban, the Section 232 proclamation on aluminum and steel combined with country-specific exemptions set to expire on May 1, the Section 301 investigation, and multiple strikes at copper and nickel mines to boot. After the turmoil of the first few […]
Aluminum Recovers With More Than 13% Price Jump in a Week
At the end of week before last, aluminum prices seemed to struggle; some thought the metal might have shifted to bearish country. However, after that LME aluminum prices jumped by more than 13% in a week. LME aluminum prices retraced to August resistance levels ($1,972/mt), and then increased sharply again. Need buying strategies for steel? […]
Aluminum Associations Around the World Want G20 Forum on Overcapacity
Several aluminum associations around the world penned a joint letter in which they urged G20 leaders to hold a forum on global aluminum overcapacity. Buying Aluminum in 2018? Download MetalMiner’s free annual price outlook “In light of the conclusions reached last July at the G20 Summit in Hamburg, Germany, and the publication of the Global […]
This Morning in Metals: EU Aluminum Smelting Costs Going Up, China Squeezes U.S. Scrap
This morning in metals, we look at a few key stories circulating in the metals news mill that buyers should have an eye on. EU ETS Reform to Increase Aluminium Smelting Costs According to CRU Group (paywall), the free carbon permit allowances for EU aluminum smelters that have always been in place are about to be […]
This Morning in Metals: Rusal Shares Plummet After U.S. Sanctions
This morning in metals news, Rusal saw its stock tumble after being hit with sanctions by the U.S., President Trump criticizes China’s auto tariffs and the U.S. Department of Commerce issued a final affirmative determination in its countervailing duty probe of stainless steel flanges from China. Need buying strategies for steel? Try two free months […]
This Morning in Metals: Copper Hits Over One-Week High
This morning in metals news, copper hits an over one-week high, President Trump is pushing for a preliminary deal on the North American Free Trade Agreement (NAFTA) by mid-April and gold could reach $1,400 if a trade war ensues. Need buying strategies for steel? Try two free months of MetalMiner’s Outlook Copper Surges Strong manufacturing […]
This Morning in Metals: Japan’s Aluminum Industry Calls for End to U.S. Aluminum Tariff
This morning in metals news, Japan is calling for the U.S. to ditch its recently imposed Section 232 aluminum tariff, U.S. steel exports were up 13% last year and Texas Gov. Greg Abbott announced a $500 million investment from JSW Steel for its facility in Baytown, Texas. Need buying strategies for steel? Try two free […]