Positive signals on the aluminum market in Iran
Mining News Pro - Aluminum prices are on the upside, despite the strengthening of the dollar index, and demand growth.


Aluminum prices rose yesterday, with a 22 percent appreciation of the dollar, rising in demand.

LME inventories continue to decline, and over the past two weeks, with the hope of rising prices, more than 19% of the sales license has been canceled by the owners! China`s stockpiles are on the downside as well, with a further decline in the second half of the year.

Workers strike at ABI Smelter of Canadian aluminum producer, faces 8% decline in the first half of 2018 while simultaneously seeing a 50% drop in Brazilian ALBRAS production caused by flooding and stopping the Alunorte alumina complex .

The increase in the price of alumina powder at $ 600 a barrel in the first half of this year and the current high price of $ 530 at the same time as the rise in energy prices has led to a 3.4% decline in China`s aluminum production (first half of 2018) and global production growth has been limited.

Also, the threats of the largest aluminum producer in the world outside of China continue to be maintained by the OFAC, and the license to continue to cooperate with Rosal has been extended until October 25th so that shareholders of the company EN + owned by Deripaska (old-fashioned Putin`s partner) will have the opportunity to withdraw from the company.

In the event of disagreement, the expectation of a price hike in the world market is due to the limited supply of aluminum ingots by the company, and the premium aluminum is still at a high level.

The production of rosewood in the first half of this year reached 1.87 million tons, up 2.1 percent.

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