The new London Metal Exchange cash-settled alumina contract will help the exchange to retain its top spot as the global reference for the aluminium industry, according to LME business development analyst Antonio Masiero. While the market moves away from pricing alumina as a percentage of the LME price for aluminium, the new contract will help it to continue to provide options throughout the supply chain.
India will need to produce or import 60 million tonnes per year of bauxite by 2030 to meet its aluminium needs, an executive at the International Bauxite, Alumina and Aluminium Society (IBAAS) said during Fastmarkets’ 25th Bauxite & Alumina conference in Miami on Wednesday March 27.
North American aluminium trade groups have called for President Donald Trump’s administration to reinstate quota-free exemptions from the Section 232 aluminium tariffs for Canada and Mexico before the United States-Mexico-Canada Agreement is implemented.
The European Commission has started an in-depth investigation into Novelis’ proposed acquisition of Aleris over concerns that the deal could reduce competition in the semi-finished aluminium market and lead to rising prices.
China’s new energy vehicle (NEV) subsidies in 2019 will only be payable for electric vehicles with higher driving range and energy density, while the value of the subsidy will be reduced by 50% to a maximum of 25,000 yuan ($3,725) per vehicle produced.