The end of the summer slowdown may be near. The price of aluminum has made some moderate gains since falling from the year high in early May. Forecasts for the growing demand for aluminum are strongest in the aerospace and transportation sectors. Furthermore, China may become a net importer of the metal in the coming years.
Analysts are in agreement at Harbor Intelligence’s Annual Aluminum Outlook Conference predicting stable to higher prices on the year. Also, Coca-Cola accuses Goldman Sachs of manipulating aluminum prices.
Aluminum can makers in Japan expect a fast moving shipment in the coming weeks due to high consumption of beer and softdrinks on the soccer World Cup. Japan’s top aluminum can maker, Daiwa Can Company is quoted saying: “We expect can shipments to get a boost from the event as the more people go travelling, [...]
Abu Dhabi Government’s industrial investment arm, General Holding Corporation (GHC) is using US$1 billion (Dh3.67bn) aluminium mill to employ 3,000 jobs. Aluminium has reached an average of $2,196 a tonne return this 2010 even after the global financial crisis. “The philosophy of GHC is to create industrial projects to attract global players to Abu Dhabi, [...]
The Islamic Republic of Iran’s aluminum produce has increased to 8 percent in the first month of the new Iranian year (started March 20, 2010). This is compared to March 20 of 2009. The news added the information: Iran has produced 25,732 tons aluminum during the last Iranian month (March 20-April 20, 2010) showing 8 [...]
Japan’s shipments of aluminum rolled products dipped at the slowest pace in 7 months in June as demand from can and carmakers improved. For full story, click here
Century Aluminum Co. declared a third consecutive quarterly loss on Thursday as the company slashed production to combat weak demand for aluminum amid a more than 65 percent dip in sales. For full story, click here
Aluminum Corporation of China shares have nearly doubled this year as China’s economy has rebounded more quickly than expected, driving aluminum demand. Today’s gains are helped by general strength of aluminum company shares across the board. For full story, click here
Aluminum stockpiles in Japan dipped by 15 percent in June from a month earlier to the lowest level since July last year as domestic demand increased and traders reduced metal imports. For full story, click here
Aluminum producer Alcoa, Inc. declared its third consecutive quarterly loss, as demand and prices for aluminum continued to be impacted by the global slump. For full story, click here
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