This morning in metals news: CEOs across the aluminum industry supply chain sent a letter to United States Trade Representative Robert Lighthizer to voice their opinion about a potential reimposition of aluminum tariffs on aluminum from Canada and Mexico; the International Aluminum Institute recently released global production figures for May; and the Energy Information Administration […]
Tag: Aluminum
Midwest aluminum premium surges on threat of tariff rise
At the behest of the American Primary Aluminum Association (APAA), U.S. Trade Representative Robert Lighthizer has been encouraged to push the Trump administration to rule this week against Canada’s duty-free status for primary aluminum into the U.S. market.
This Morning in Metals: Bloomberg: U.S. mulling reimposition of Canadian aluminum tariffs
This morning in metals news, the U.S. is reportedly considering reimposing tariffs on Canadian aluminum, U.S. liquefied natural gas (LNG) exports have plunged and global copper mine production ticked up 0.5% in Q1 2020.
This Morning in Metals: Vale announces plan to resume operations at Voisey’s Bay mine
This morning in metals news: Vale has announced a plan to resume operations at the Voisey’s Bay mine in Canada; U.S. imports of blooms, billets and slabs have surged in recent months; and Hindalco plans to sell a majority of its output outside of India this year.
Chinese aluminum semi-finished product exports continue to fall
As we predicted last week, the LME to SHFE arbitrage window has closed. Investors were unlikely to leave that open for long and the resulting inflow of half a million tons of aluminum in May no doubt contributed to a narrowing of the delta.
Aluminum MMI: Aluminum price climbs despite overwhelming supply
The Aluminum Monthly Metals Index (MMI) increased by nearly 1.4% this month.
Aluminum price is pulled this way and that on rising trader interest, supply glut
Aluminum prices have been on an upward trend the last week or two, currently holding comfortably above $1,500 per ton for spot cash after months in the $1,400s. The market, though, is undergoing convulsions.
This Morning in Metals: Hydro to launch JV for electric vehicle battery recycling
This morning in metals news, aluminum maker Norsk Hydro recently announced the formation of a joint venture that will aim to recycle electric vehicle batteries, the Aluminum Association reiterated its stance on the need for an aluminum import monitoring system and a Dutch bank says gold prices are expected to drop.
Aluminum’s struggles point to flaws of tariff approach
At least as far as aluminum is concerned, the president’s tariff strategy is in tatters, a recent Reuters article suggests.
Week in Review: Aluminum production up; automotive struggles; oil prices plunge
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: a potential copper find in Cornwall; the automotive sector’s struggles; falling oil prices; rising aluminum production and much more. Looking for metal price forecasting and data analysis […]
