Longtime readers of MetalMiner may recall a number of aluminum posts we have put out over the years since the financial crisis that explore shadow stocks or the “stock and finance trade” inventory that have referred to the murky world of “off-warrant,” or non-exchange, reserves of aluminum. Those reserves are often hard to determine in […]
Tag: Aluminum
This Morning in Metals: Nucor to add blast and prime line at Kentucky plate mill
This morning in metals news: Nucor Corporation announced it is adding a blast and plate line at its under-construction Kentucky plate mill; aluminum prices have stabilized somewhat after plunging in late October and early November; and, lastly, job openings rates decreased in 12 states in November. MetalMiner has launched a full suite of precious metals […]
Chatting with Norsk Hydro VP of Finance and Strategy Mike Stier about the infrastructure bill’s impact on aluminum
U.S. President Joe Biden on Monday signed the $1.2 trillion Infrastructure Investment and Jobs Act into law. The bill includes funding to upgrade the country’s transportation infrastructure, electric grid and more. As such, the projects will certainly need metals like steel, copper and aluminum, among others. In that vein, we recently chatted with Mike Stier, […]
US, Japan to initiate talks on Section 232 steel, aluminum tariffs
The United States and Japan have agreed to initiate talks regarding the former’s Section 232 tariffs on Japanese steel and aluminum imports, Reuters reported this week. According to a report by AP, Japan’s industry ministry said Japan’s Industry Minister Koichi Hagiuda and U.S. Commerce Secretary Gina Raimondo attended the meeting. However, a ministry official said […]
Week in Review: Steel prices soften; House sends infrastructure bill to Biden’s desk; CPI rises 0.9% in October
Before we head into the weekend, let’s take a look back at the week that was and the metals storylines here on MetalMiner, including softening steel prices, the House’s passage of the over $1 trillion infrastructure bill and more: Check if your service center is providing you with price transparency for your steel spend. Week […]
Strong aluminum market reflected in stellar Novelis results
Aluminum buyers just about everywhere have suspected their suppliers have been making the most of a tight market to maximize their returns this year. Those fortunate enough to have fixed aluminum prices for the year back in early 2021 will be anxiously looking at 2022 renewals. The majority, however, will be licking their wounds following […]
This Morning in Metals: US steel capacity utilization falls to 83.4%
This morning in metals news: U.S. steel capacity utilization dropped to 83.4% last week; the Associated General Contractors of America weighed in on the passage of the infrastructure bill in the House of Representatives; and, lastly, the aluminum price has continued to slump. MetalMiner has launched a full suite of precious metals as part of […]
Could Russia’s aluminum export tax be coming to an end next month?
When news of Russia’s export tax on primary aluminum came out in the summer, it caused an increase in LME prices. More significantly, however, physical delivery premiums — such as the Midwest premium, the Rotterdam premium and the Main Japanese Port (MJP) premium — also increased. See why technical analysis is a superior forecasting methodology […]
Aluminum MMI: Following all-time high, aluminum prices plummet
The Aluminum Monthly Metals Index (MMI) fell for the first time in nine months, dropping by 1.5%. After prices hit the record peak in late October, aluminum started to face some speed bumps when the price attempted to continue to trade upward. Since Beijing’s intervention into the coal market, LME aluminum prices began to retrace […]
This Morning in Metals: ELYSIS hails progress toward carbon-free aluminum produced at Canadian plant
This morning in metals news: ELYSIS, a joint venture of Alcoa and Rio Tinto, said it is one step closer to the production of carbon-free aluminum; the U.S. trade deficit in September reached $82.9 billion; and, lastly, aluminum and copper prices have leveled off after plunging to close October. MetalMiner has launched a full suite […]