Despite the recent recovery in LME aluminum prices; demand for the stainless steel component remains in the dumps. Without any idea of when demand may stage a comeback, aluminum miners are bracing for more tough times.
Reports reveal that the stoppage of Zaporizhia Aluminum Combine the country’s only aluminum smelter, would cause serious financial losses for the Ukrainian economy. For full story, click here
Aluminum producer’s cutbacks have done little to stabilize the metal’s free fall. In London, the price of aluminum fell to $1,321 per tonne from $1,345. In New York, it was selling for 59 cents per pound. Six months ago, the metal’s going rate was $1.50 per pound.
Prospects for Alcoa, the aluminum producer that ranks No. 1 in the U.S. and No. 3 in the world, depend on improvement in the global economy. For full story, click here
Get our independent commentary on aluminum trends and companies delivered to your inbox.
