london metal exchange

Rusal Releases Production Totals for Third Quarter

Rusal Releases Production Totals for Third Quarter

Russian Federation aluminium giant UC Rusal announced third quarter operating results yesterday. Production of alumina remained flat, while the numbers for aluminum and bauxite were up slightly. Third-quarter aluminium production totaled 920 thousand metric tons, which is unchanged quarter-on-quarter. Smelters in Siberia...

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Events

Indian Government Abandons Plan to Implement Tariff on Unwrought Aluminium

Indian Government Abandons Plan to Implement Tariff on Unwrought Aluminium

Due to protectionism criticisms for tariffs levied on imported steel, India has shelved a plan to impose a 5% provisional safeguard duty on unwrought aluminium. Such a tariff would affect imports from countries like United Arab Emirates, Malaysia, Russia, South Africa, Oman, Qatar, Bahrain, and Thailand. The Directorate General of Safeguards recommended the tariff on […]

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China’s Aluminium Prices Up, Semi Exports Down

China’s Aluminium Prices Up, Semi Exports Down

China’s aluminium futures rose to their highest level in half a year on Monday, thanks to an increase in seasonal demand, and lowered domestic output due to capacity cuts made late last year. Stocks of aluminium ingots at major warehouses across China dropped from 937,000 metric tons last week to 870,000 metric tons this week. […]

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JPMorgan Quietly Sheds Aluminium Stockpile After Report

JPMorgan Quietly Sheds Aluminium Stockpile After Report

A few short days after a report emerged alleging JP Morgan Chase & Co. owned over half of the aluminium traded on the London Metal Exchange, the financial giant quietly divested itself of approximately twenty percent of its stockpile. According to data published by Financial Times, the company’s position on the market is down to […]

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JPMorgan Alleged to Own Half of All Aluminium Traded on LME

JPMorgan Alleged to Own Half of All Aluminium Traded on LME

According to a report in Financial Times last week, American multinational banking and financial services giant JP Morgan Chase & Co. possesses in excess of half the aluminium traded on the London Metal Exchange. The world’s sixth-largest financial institution has a US$2 billion physical stockpile of aluminium. Traders and industry experts blame the 1.4 million […]

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A way of optimism lifts metal prices

A way of optimism lifts metal prices

Base metal prices surged in February after the lowest start of the year since the global financial crisis in 2009, as a way of optimism prevailed among investors on stronger than expected U.S. economic data. Both aluminium and copper prices reached the highest levels for the previous three months, with aluminium LME cash price for […]

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