Russia Proposes Creating Aluminum OPEC: Trade Minister

Russia Proposes Creating Aluminum OPEC: Trade Minister

Russia is proposing the creation of an OPEC-like organization for the global aluminum industry, TASS news agency quoted Russian Industry and Trade Minister Denis Manturov as saying on Monday. Russia’s Rusal was overtaken by China’s Hongqiao as the world’s biggest aluminum producer several years ago, as Rusal cut back its production capacity due to a fall in prices. Manturov told reporters about the idea of an aluminum-making group on the…

China Lobs a Grenade into the Aluminum Supply Chain: Andy Home

China Lobs a Grenade into the Aluminum Supply Chain: Andy Home

China’s “Air Pollution Control” regulation was formally approved on Feb. 20 and published on Feb. 28. It came into effect on Wednesday. It may sound pretty innocuous but, make no mistake, it represents a potential redefinition of the global aluminum market. The world’s largest producer of the metal will force aluminum smelters in four provinces surrounding Beijing to cut output by 30 percent over the winter heating season, which runs…

Brazil Aluminum Output Up in January

Brazil Aluminum Output Up in January

Brazil’s primary aluminum output in January was 67,800t, up 4.5% year-on-year, according to data from industry association Abal. Sequentially, production was up 0.59% from 67,400t and has now increased for nine months in a row. For full-year 2016, output was 792,700t. Abal is made up of CBA, part of local conglomerate Votorantim, as well as Alcoa, BHP Billiton, Albras and Novelis. Ranked nine among the world’s largest aluminum producers, Brazil…

Here’s The Official New No.1 Copper Supplier To China

Here’s The Official New No.1 Copper Supplier To China

I wrote in late January about how Peru has been squeezing Chile in terms of copper supply to China. And this week, it’s official. Peru is now the top copper exporter to the world’s biggest consuming nation. Platts reported Monday that the latest customs data from China showed another surge in Peru copper shipments. With January imports from the South American nation rising 27 percent as compared to January 2016,…

Stainless Steel Market Stirs Back to Life

Stainless Steel Market Stirs Back to Life

OKYO — Prices of stainless steel are on an uptrend, with producers and distributors breathing a sigh of relief after a prolonged slump. Benchmark SUS 304 stainless steel currently trades at around 320,000 yen ($2,800) per ton wholesale in Tokyo, roughly 6% higher than the most recent low in September 2016. The higher prices result from increased costs for the key ingredients of stainless steel — ferrochrome and nickel. Ferrochrome…

Imports of Oil, Food and Machinery Rise

US Sheet Steel Market Eyes Price Support from Low Buyer Inventories

US sheet steel prices held steady Wednesday but buyers and sellers said that a report of low buyer inventories suggests that prices, which have been showing signs of weakness, could get support from a tight market. The Metals Service Center Institute said that US service centers carried 2.0 months of flat-rolled supply at the end of January, down from 2.7 months in December and matching a recent low ratio seen…