Customs data reveals that China’s aluminum imports in August saw a year-on-year increase of 38.9%, indicating low domestic inventories and improved demand prospects, prompting buyers to expedite their import efforts.
Data from the General Administration of Customs shows that China imported...
The US Dollar Index has extended its rally for an eighth consecutive week, reaching a six-month high and marking a 5.5% increase from its July lows. Analysts suggest that the prospect of rising oil prices is further bolstering the outlook for a stronger US dollar.
This week, the US Dollar Index r...
According to multiple sources, at least three South African mining companies are currently competing to acquire the Khoemacau Copper Mine in Botswana, one of Africa’s largest copper mines. The growing demand for copper ensures intense competition for this highly sought-after asset.
Insiders...
South Korea’s Gwangyang Port Emerges as New Hub for London Metal Exchange (LME) Aluminum Storage
Gwangyang Port in South Korea has now become a pivotal hub for storing aluminum traded on the London Metal Exchange (LME).
LME-registered warehouses in the city currently hold 256,650 metric ton...
Rising aluminum production in Yunnan, China has undoubtedly added new pressure to global aluminum supply. However, concurrently, the resilience of low aluminum ingot stocks and consumption is providing robust support to aluminum prices. Especially in China, the flourishing real estate market, rap...
Fitch’s research arm, BMI, recently indicated that the sluggish global aluminum demand might continue to exert pressure on aluminum prices throughout this year. They have revised down their average price forecast for aluminum in 2023 from $2500 per ton to $2300 per ton. The agency pointed o...
Citigroup Inc., a global financial institution, has reportedly acquired around $160 million worth of Russian aluminum from the London Metal Exchange (LME), despite the reluctance of many banks to engage with Russian aluminum since the invasion of Ukraine by Russia.
According to insider sources, L...
London, August 17, 2023 – The global aluminum market is grappling with a persistent oversupply as sluggish demand, particularly in China and other regions, continues to exert downward pressure on aluminum prices. Analysts predict that this challenging scenario is likely to extend through th...
Two Recent Developments in the Global Energy Sector Garner Attention
In recent times, two significant news stories concerning the international energy sector have captured widespread attention.
The first piece of news revolves around the colossal American oil and natural gas conglomerate ExxonMob...
Latest Research from San Francisco Fed Reveals Potential Slowdown in Housing Inflation as Interest Rates Climb
SAN FRANCISCO, August 7th – A recent study unveiled by the Federal Reserve Bank of San Francisco on Monday suggests that the surge in housing inflation, a significant component of ...
In the recent earnings conference call, CEO Jakob Stausholm announced a significant joint venture agreement with Giampaolo Group subsidiary Matalco. Rio Tinto aims to bolster aluminum market sustainability and promote the development of recycled aluminum products through this joint venture.
Under...
【SMM Daily News】 Metal Prices Surge, Coking Coal Rises by Almost 4% | July DMC Production Increases by 27.24% Month-on-Month | Steel Sector Shows Strength
Doliker Technologies: Tesla’s Core Supplier for Stamped Parts, Advancing Integration into Die Casting [Institutional Research Report]
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