According to the International Aluminum Institute, global aluminum production in May reached 5.43 million metric tons, holding flat from May 2018 production. Buying Aluminum in 2019? Download MetalMiner’s free annual price outlook By region, China led the way with 3.09 million metric tons produced, about flat compared with May 2018 production. Elsewhere, Asian production ex-China […]
Tag: Aluminum
Mexico Becomes First Country to Ratify USMCA; U.S., Canada Approvals Pending
Quite a bit has happened since late November, when the leaders of the U.S., Canada and Mexico signed the United States-Mexico-Canada Agreement (USMCA), the intended successor to the North American Free Trade Agreement (NAFTA) and sometimes dubbed “NAFTA 2.0.” Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook More recently, President […]
U.S. Midwest Premium Remains High to Consumers’ Chagrin
Aluminum base prices on the London Metal Exchange (LME) have been sliding for the last couple of months, suggesting we have a market in surplus. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook So when the United States removed tariffs on imported steel and aluminum from Canada and Mexico last […]
Aluminum MMI: Tight Aluminum Supplies Stave Off Further Price Drops For Now
This month the Aluminum Monthly Metals Index (MMI) decreased, with weakness coming from all the prices tracked globally. The index value dropped back two points to 86, back to February levels after holding at 88 for three months. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook LME aluminum prices occasionally […]
This Morning in Metals: Australia PM Says Aluminum Exports to U.S. are Fair
This morning in metals news, Australian Prime Minister Scott Morrison said the country’s aluminum exports to the U.S. are fair, China’s Baowu Steel is acquiring a majority stake in rival Magang and the USTR announced an extension related to duties imposed on Chinese goods. Need buying strategies for steel? Request your two-month free trial of […]
Alunorte’s Restart Does Not Bode Well for Aluminum Prices
According to the Financial Times, Norsk Hydro’s giant Alunorte refinery in Brazil has been given approval to restart production by the Brazilian authorities. The announcement caught the market by surprise, coming some months earlier than had been expected. Buying Aluminum in 2019? Download MetalMiner’s free annual price outlook The restart is a boost for Hydro, […]
Experts Fail to Quantify Impact of Section 232 Steel, Aluminum Tariffs
If you ask 100 procurement professionals whether or not the Section 232 steel and aluminum tariffs have helped or harmed them, 100% will say the tariffs harmed them. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook After fielding hundreds of calls from metal-buying organizations this past year, we here at […]
Trump Drops Metals Tariffs on Canada, Mexico; What’s the Impact on Steel, Aluminum Prices?
President Donald Trump announced today the removal of the U.S.’s Section 232 tariffs on steel and aluminum with respect to NAFTA partners Canada and Mexico. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook The tariffs had remained in place since June 1, 2018, when temporary exemptions for Canada, Mexico and […]
This Morning in Metals: Iron Ore Soars After Vale Warning
This morning in metals news, the iron ore price continues to rise, the U.S. cut its import tariff on Turkish steel in half and copper is on its way to its fifth consecutive weekly loss. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook Iron Ore Rises After Vale Warning The […]
Is it Time to Call a Bear Market for Industrial Metals?
While industrial metals started 2019 in an upward trend, the complex showed weakness as 2019 progressed. In fact, all of the industrial metals hit down around current support levels — and lower at times — during the past few weeks. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook With industrial […]
