EU to restrain steel imports after US tariffs take effect


The European Union will launch measures on Thursday to prevent a surge of steel imports into the bloc following the U.S. imposition of tariffs on incoming steel and aluminum, the EU’s official journal said. The European Commission has proposed a combination of a quota and a tariff to counter EU concerns that steel products no […]

Primary aluminium demand falls 343 kilo tonnes lower than 2017

The demand for primary aluminium for January to March 2018 stood at 14.9 million tonnes, falling 343 kilo tonnes (kt) lower than its quota in the same quarter months of 2017, according to a World Bureau of Metal Statistics (WBMS) report seen by businessamlive. The calculated market balance for primary aluminium was a deficit of […]

Aluminium prices jump to near 7-year high as Trump sanctions hit Russia

Base metals

Aluminium prices on Tuesday jumped to near seven-year high as the US sanctions against Russia continues to impact the global supply of the industrial metal. The Trump administration under two weeks ago announced sanctions on more than a dozen Russian entities, including United Co. Rusal, the world’s second-largest Aluminium producer. Rusal has seen its share […]

Force majeure pressure drives aluminium prices to 6-year high


Force majeure pressure on Monday drove aluminium prices to a new six-year peak as the dollar fell after Rio Tinto made declarations on some of its customer contracts following US sanctions on its partner Rusal, according to a news service report monitored by businessamlive. The benchmark on the London Metal Exchange rose 2.7 percent to […]

Aluminum prices rise on panic buying as fears of Rusal collapse grow

As Russia’s currency and capital markets dipped on delayed response to Friday’s US sanctions against a handful of Kremlin-friendly billionaires, one vital metal used across the globe in aircraft manufacturing and the auto industries is soaring today. Aluminum prices initially soared on Friday and then again on Monday, amid growing fears that sanctions on Russian […]

Rusal resumes aluminum project as deeper global deficit seen ahead

Russia’s Rusal has resumed construction of its long-stalled Taishet aluminum smelter project in Siberia in expectation of a widening global aluminum deficit, the company said on Wednesday. The world’s second-largest aluminum producer behind China’s Hongqiao needs a further $700 million to complete the project, having invested about $800 million in Taishet before it was halted […]