According to the recently published USGS Mineral Industry Survey for Aluminium in March 2017, domestic primary aluminium production in March 2017 was 63,000 tons, up 11% in comparison to February 2017, but down 19% YOY and 56% less than the production in March 2015. The average daily production remains flat MoM in March at 2,030 tonne. The daily production rate dropped 19% YoY.
{alcircleadd}The average U.S. market price of primary aluminium ingot and average cash price on the London Metal Exchange Ltd. (LME) in March 2017 stood at to $0.964 per pound and $0.862 per pound respectively, up 2% from those in February 2017. The total inventories of primary aluminium in LME-approved warehouses in the United States decreased to 194,000 tonnes at the end of March 2017.
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On April 27, the President of the United States signed a memorandum instructing the Secretary of Commerce to conduct an investigation on the impact of aluminium imports on the national security. If the investigation finds that current aluminium import is threatening to impair the national security, the Secretary of Commerce shall recommend plan of actions to adjust aluminium imports to the president within 270 days of the initiation of the investigation.
Domestic aluminium producers are optimistic about such developments in the U.S. aluminium sector.
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