As the aluminium price surges to an 18-month high, alumina market participants are debating how it is influencing the raw material’s market direction.
Base metals prices on the London Metal Exchange were weaker this morning, Thursday October 22, this after a day of general strength on Wednesday that saw copper prices climb, intraday, back above $7,000 per tonne.
China’s expected recovery in air travel after the Covid-19 pandemic is expected to result in 8,600 new airplane purchases over the next 20 years, according to US manufacturer Boeing.
Waiting times for aluminium at Istim warehouses in Port Klang, Malaysia, fell to just 20 days at the end of December, according to the London Metal Exchange’s latest queue report.
Thirty years from now, the global steel industry will likely use more briquetted iron products and scrap and hardly any steelworkers, executives said during the “Steel Industry 2050" panel at Fastmarkets’ 2020 Steel Success Strategies Online conference.
Japan’s Panasonic has teamed up with Norwegian aluminium producer Norsk Hydro and Norway’s state-owned oil major Equinor to look into developing a sustainable battery business in Norway.
Covid-19 appears to have claimed another casualty: the London Metal Exchange ring trading floor.
There were gains across the board for the London Metal Exchange base metals this morning, Wednesday January 20, with a weaker US Dollar Index and a firm commitment on further stimulus in the United States pushing copper and aluminium up by 1.2% and 1% respectively.
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were for the most part firmer on Monday January 25, after having dipped on Friday – optimism over US President Joe Biden’s $1.9 trillion fiscal stimulus plan was outstripping the worrying news about the new Covid-19 cases in China.
Rio Tinto’s New Zealand Aluminium Smelter (NZAS) in Tiwai Point will continue to operate until December 31, 2024 after reaching an electricity agreement with Meridian Energy, the producer said on Wednesday January 13.
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