- Write by:
-
Tuesday, August 7, 2018 - 4:06:11 PM
-
972 Visit
-
Print
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.
- aluminum ingots , Deripaska , ROSAL , OFAC , largest aluminum producer , Aluminum prices , aluminum market , ABI Smelter of Canadian , Brazilian ALBRAS , Alunorte alumina complex ,
- Mining News Agency
Short Link:
https://www.miningnews.ir/En/News/232887
Australian miner Lynas posted a slump in third-quarter sales revenue on Wednesday, missing analyst expectations on the ...
Zimbabwe’s President Emmerson Mnangagwa has re-appointed Winston Chitando as the southern African nation’s mines ...
Anglo American Plc said it is has received an unsolicited non-binding combination proposal from BHP Group.
China’s Zhaojin Mining Industry said on Wednesday that its A$733 million ($477.8 million) offer to buy Australia’s ...
Toronto-listed miner OceanaGold Corp said on Wednesday it will raise 6.08 billion pesos ($106 million) through an ...
A key measure of Chinese copper demand just sank to zero, another indication that global prices are not balanced with ...
A new report by IDTechEx states that investing in e-haul trucks could result in major savings for miners due to the ...
Chile’s state copper company Codelco defended its proposed lithium production tie-up with SQM in response to criticism ...
Canadian miner First Quantum Minerals (TSX: FM) believes it will be able to take the already mined 121,000 tonnes of ...
No comments have been posted yet ...