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Rusal intends to start an aluminium rolling mill in Kentucky, a key region for US aluminium production, with US holding company Braidy Industries Inc, the Russian aluminium producer said.
Rio Tinto has committed $302 million of additional capital to advance its Resolution Copper project in the US state of Arizona, a mine that the company envisages will provide raw materials to help fuel the electromobility boom.
One concern at this year’s Minor Metals Trade Association (MMTA) conference overshadowed all other bearish factors affecting minor metals prices this year: the potential release of metal stocks held by the failed Fanya Metal Exchange.
The molybdenum market is set to remain volatile in 2019, Shaanxi Head-Moly sales director Jessica Young said during the annual MMTA conference in Edinburgh, Scotland, last week.
Producer stocks of cobalt sulfate, chloride and tetroxide need to record further drawdowns if cobalt prices are to recover meaningfully, Core Consultants managing director Lara Smith said.