Aluminum futures prices soared to their highest in more than a decade after a coup in Guinea fueled concerns over Bauxite feedstock supplies. China gets half of it’s supplies from Guinea and is already struggling with output. A worker at a production line of Nannan Aluminum Co Ltd in Nanning, China via China Daily In an already volatile commodity space aluminum hit the highest prices in over ten years as a political coup in Guinea put Bauxite exports under threat, … Continue reading “Aluminum Prices Soar to Ten Year Highs After Guinea Coup Strangles Bauxite Supplies”
Chinese Aluminum Production Capacity Continues To Cap Prices
Soft demand for aluminum and cost deflation has seen LME futures prices in narrow range with low volatility. China is the world’s top aluminium producer and continues to defy low prices as falling alumina costs boost margins.
Brazil Lifts Embargo on Norsk Hydro Alunorte Alumina Refinery
The Brazilian state of Para lifted the production embargo on the Norsk Hydro ASA’s Alunorte alumina refinery. The Norwegian aluminum maker’s ADR $NHYDY rose about 1.5% on the news.
New LME Alumina Contract Settled with Fastmarkets MB and CRU Alumina Price Data
The new London Metal Exchange alumina contract will be settled in part by using data from the Fastmarkets MB index, with shared weight given to the CRU’s Alumina price index.