LME Will Not Ban Russian Aluminium
The London Metal Exchange said last week that it does not plan to ban Russian aluminium from its warehouses due...
Russian Federation
Arconic Completes Sale Of Russian Aluminium Assets To Russian Titanium Giant
Pittsburgh aluminium value-added firm Arconic announced the completion of the sale of the entirety of its Russian operations to Promishlennie Investitsii LLC for US$230 million. Arconic notes that the closing occurred upon the receipt of all necessary approvals, at which point Promishlennie...
Rusal Parent Company Says Report Of Bans On Russian Aluminium “Irresponsible”
En+ Group took the offensive against media reports suggesting that the United States government is considering sanctions on Russian aluminium...
Rusal Sues Rio Tinto For Return Of 20 Percent Share Of Queensland Alumina
Russian Federation aluminium titan UC Rusal is suing Anglo-Australian mining giant Rio Tinto Group to receive back its 20-percent share...
Events
Russia’s Metal Sector Must Change To Adapt To “Illegal” Sanctions: Putin
Russia’s aluminium sector could be in for some major changes to combat sanctions against the country, as raw materials and sales of finished product have been hampered due to limits enacted by the global community. Such was the message delivered by Russia’s leader Vladimir Putin on Wednesday. In a televised meeting with various metals industry […]
London Metal Exchange To Double Default Fund In Anticipation Of Spike In Price Of Aluminium And Other Metals
The world’s largest standardized forward contracts market will be increasing its clearinghouse default fund to twice its current amount next month, evidently as a move to mitigate the risk of member default should the metals market see another steep rise in prices this year. The London Metal Exchange is increasing its cover by about $1 […]
German Companies Supportive Of Sanctions Against Russia Despite Increased Aluminium Bottlenecking
A survey last week by Germany’s BGA trade association showed that, despite an expected economic slowdown, German businesses fully supported Berlin’s economic sanctions against Russia for its invasion of Ukraine last month, even if such sanctions threaten supplies of raw materials like primary aluminium. In a statement released to the press about the survey, BGA […]
Rio Tinto To Sever Ties To Russian Businesses Due To Ukraine Invasion
Anglo-Australian mining giant Rio Tinto Group said this week it will sever all ties to businesses from the Russian Federation in light of that country’s invasion of Ukraine last month, joining a wide array of major firms that have announced their exodus from the country. Rio Tinto does not currently have any operations in either […]
Russia Warns That Transitioning To Renewables Too Quickly May Spike Aluminium Prices
The Russian Federation is amenable to switching its power sources to renewables, but any such transition will be gradual so as not to spike power prices and, by extension, the industries that rely upon them heavily, including aluminium smelting. Such was the message conveyed by the country’s Deputy Energy Minister Pavel Snikkars earlier this week. […]
Biden Infrastructure Bill A Big Boon To Aluminium Industry: Norsk Hydro VP Mike Stier
Earlier this month the United States Congress passed into law President Joe Biden’s US$1.2 trillion infrastructure package. The Investing in a New Vision for the Environment and Surface Transportation in America Act (or the INVEST in America Act) will allocate US$550 billion ...
The Net-Zero Shift Starts With Low Carbon Aluminium
2020 was supposed to be “year of climate action”, with the Glasgow COP26 acting as a major milestone for both ...
Aluminium at the LME Week – Key Takeaways
Between October 28 and November 1st, London hosted the traditional London Metals Exchange (LME) Week gathering of analysts, brokers, traders ...
Aluminium Market Oversupplied, Demand Growth Flat
Base metals prices reacted positively to the progress registered in the latest round of US – China trade talks in ...
