Aluminum prices broke out of their sideways trend last month with strong upside price action. Prices rallied during the first half of November, followed by a modest retracement before they continued upward. Overall, the Aluminum Monthly Metals Index (MMI) saw a modest 1.04% increase from November to December. The MetalMiner Insights platform includes global aluminum […]
Tag: Aluminum
China Reacts Strongly to WTO’s Ruling of Trump Administration Metal Duties
In the latest US steel news, a WTO ruling has sparked a new war of words between the United States and China. Last weekend, the WTO finally ruled on the 25% taxes on global steel imports and 10% import tariffs on aluminum imposed under former US President Donald Trump. The WTO dispute settlement panel ruled […]
Conditions Ripe for a Nickel Price Squeeze
The recent rise in aluminum, copper, and nickel price have created some short-term uncertainty as companies finalize their long-term contracts for 2023. Earlier this month, all three metals rose on the back of rumors that China might begin easing zero-COVID restrictions. In addition, the USD index has dropped from its September peak of 114. As […]
Zhongwang’s Roller Coaster Ride Comes Off the Tracks
Recent aluminum supply news remains inundated with the Zhongwang Holdings controversy. Many remember the case from 2019 when US prosecutors accused six southern California companies of evading aluminum import duties. The organizations had ties to Zhongwang Holding’s owner Liu Zhongtian and the skipped duties came to $1.8 billion total. The prosecutors claimed that between 2011 […]
Advantages of Using Aluminum for CNC Machined Parts
Aluminum, a widely used material option for CNC machines, contains many practical characteristics and properties. Its strength makes it perfect for use in mechanical parts. The oxidized layer on its surface protects them from the environment. For these reasons, aluminum components can prove useful in a broad spectrum of industrial products. This includes automobiles, aircraft, […]
Latest Updates on LME Aluminum: Potential Russian Prohibition
Last week, speculators bought up aluminum amid a $100/ton spike following news that LME aluminum may soon exclude Russian materials. The LME continues to review a ban that would keep Russian aluminum, nickel, and copper from the exchange. A Reuters post illustrated the seriousness of the move, stating that Russia’s Nornickel accounted for 7% of global […]
Aluminum Market After Another Fed Rate Hike
Aluminum supply continues to shrink thanks to smelter shutdowns caused by ongoing energy shortages. Aluminum prices enjoyed a brief rebound following the Fed’s latest rate hike of three-quarters of a point. However, in the short term, aluminum prices remain in a downward trend. Earlier this week, MetalMiner noted how smelter shutdowns in China and Europe […]
Aluminum Supply Suffers From Industrial Shut-Downs
Thing may appear better in China than they are, at least as far as the country’s metals and minerals markets are concerned. However, China still remains the go-to destination for European steel and aluminum supply. Energy-sensitive European factories and aluminum smelters remain stranded due to the ongoing Russian-Ukrainian war. Western Europe’s gas and electricity supplies […]
Aluminum MMI: Aluminum Prices Decline as Energy Crisis Worsens
This week, aluminum prices approached long-term weekly demand zones. These are price levels that typically trigger a strong upswing. Before the most recent short-term declines, prices bounced off these levels, rising back into zones of strong downward movement (supply zones). Should prices continue to break downward, it could indicate a downtrend continuation. Moreover, the longer […]
Base Metal Prices Contradict the Changing Supply Scenario
Given the state of the world, one would expect base metal prices to show every sign of a resurgence. Certainly, analysts have been bullish about a supply squeeze for months because sky-high natural gas prices forced record electricity costs across Europe. Just this week, the FT reported that Aluminum and Zinc smelters continue to close […]