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, [...]
The aluminum market is disregarding a basic principle of economics: Spot prices on the London Metal Exchange have surged 39% this year despite slipping demand and growing supply. For full story, click here
United Company RUSAL declared that it will not expand aluminum production till mid 2011 when it plans to start first capacities at Tayshet and Boguchany Aluminum Plants expecting the supply demand balance in the international market will recover. For full story, click here
Chinese aluminum imports surged again in June, but Western producers view the upward shift as a short-term situation as the government ends its stockpiling program, the arbitrage trade window shrinks and the market experiences seasonal softness. For full story, click here
An updated analysis of the aluminum market by Alcoa shows the rising global surplus this year is expected to hit 1.2 million metric tons, up from 1.056 million in a prior forecast, driven by increased supply from Western nations. For full story, click here
The U.S. and the EU have both launched World Trade Organization complaints against China on the grounds that Beijing unfairly helps domestic makers of steel and aluminum, by blocking overseas exports of raw materials.
Alcoa Russia’s Samara Plant today commissioned a new state-of-the-art coating line for production of high-quality coated sheet used in the packaging market for aluminum soft drink and beer cans as well as serving the building and construction markets. For full story, click here
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.
Alcoa Inc. announced that it will cut production capacity at its Paranam, Suriname alumina refinery by 40% or 870,000 metric tons because of weak market conditions. Peter de Wit, managing director of Suralco, stated: For the immediate future…we believe both the country and private industry are best served by deferring further bauxite extraction and alumina [...]
Reports estimate that the global aluminum consumption will plunge 7% in 2009, and sales may dip as much as 15% in global building markets and 18% to automotive customers. For full story, click here
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