US industrial policy needs to be systematic, not just ad hoc – Part 2
Our current approach can win economic skirmishes, but not the geopolitical conflict. – Part 2 Impact #5 of ad hoc industrial policy: Failing to use all required tools Industrial policy is often caricatured as just tariffs and subsidies. Mis-framed debates that evaluate the merits of tariffs in...
US industrial policy needs to be systematic, not just ad hoc – Part 1
Our current approach can win economic skirmishes, but not the geopolitical conflict. – Part 1 After decades during which the very concept was taboo and the reality swept under the rug, the US has now rediscovered industrial policy. But this rediscovery remains incomplete, as too much of it is...
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Bell Bay Aluminium smelter marks highs and lows after six decades of operation
One of Tasmania's largest manufacturing employers says it has adapted to tough economic conditions to celebrate 60 years of operation. Bell Bay Aluminium smelter is the oldest in the Southern Hemisphere and was built in 1955, when importing aluminium became difficult. It was bought by Rio Tinto...
Falling premiums hit big aluminium trading houses
More than the aluminium prices that have declined to six-year lows, it is the sharp fall in “premiums” that is hurting the big trading houses like Glencore and Noble Group. Commodities trader and miner Glencore recently cited the “tough metals trading conditions, particularly aluminium and nickel...
China aluminum semis exports show no positive signs in H2, says SMM
Shanghai Metals Market(SMM) sees no positive note for China’s aluminum semis exports in H2 2015. One of the drags comes from one large Chinese company listed on the HKEx, who has been accused by overseas institution of engaging in aluminum semis exports in disguised form. Besides, a high SHE/LME...
Fresh buying seen in aluminium, open interest up 3.18%
Aluminium settled up 0.33% at 107.15 trying to rebound as the Chinese government bolsters support for the economy. While last week prices dropped to a six-year low amid speculation that an expanding glut and weak demand will weigh on the Chinese market. Still outlook remain weak as Standard &...
Aluminium falls by 1.4% on global cues
Aluminium prices were down 1.45% to INR 105.60 per kg in futures trading today after speculators trimmed positions amid a weak trend overseas and sluggish demand from consuming industries in the spot market. At the Multi Commodity Exchange (MCX), aluminium for delivery in September shed INR 1.55,...
Noranda Aluminum Holding jumps 45.76% on August 31
Noranda Aluminum Holding was among the biggest gainers on the Russell 2000 for Monday August 31 as the stock popped 45.76% to $3.95, representing a gain of $1.24 per share. Some 910,934 shares traded hands on 3,325 trades, compared with an average daily volume of n/a shares out of a total float of...
Dollar strength is reshaping aluminium industry, Norsk Hydro says
The global currency war that has driven the dollar up almost 20 per cent against peers over the past year is changing the aluminum business, according to Norsk Hydro ASA, Europe’s third-largest producer. At a time of plunging aluminum prices, the dollar’s strength is helping producers such as Hydro...
China primary aluminium import to continue growing in August
China imported 15,538 mt of primary aluminum in July, up 118.72% MoM and 10.24% YoY, customs data showed. Year to date imports through July totaled 69,365 mt, down 71.25% YoY. Aluminum premiums in Asia held between USD 100-120/mt. The SHFE/LME aluminum price ratio climbed from 7.0 in May to 7.4-7.5...
Russia's Rusal delays decision on dividend, core profit jumps
Russia's Rusal has decided to delay a decision on its possible first dividend since listing five years ago though its second-quarter core profit more than doubled thanks to cost cuts and a weaker rouble. The rouble's decline supports the world's top aluminium producer by partially offsetting weak...
China alumina imports to fall in Aug after 144% growth in July
China’s alumina imports will fall in August as Chinese alumina is becoming more attractive in prices, Shanghai Metals Market foresees. Sharp depreciation of yuan has made imports more expensive, which will discourage import activity. Calculated at a CIF price of $ 305 per tonne and USD:RMB exchange...
China Hongqiao defies aluminium slump, posts a healthy profit
The price of aluminium may be trading at its lowest in six years, but China Hongqiao, which has grown to become one of the world's largest producers of the metal, reported a healthy jump in first-half profits on Friday last week. China Hongqiao said that net profit rose 33 per cent to 2.72b RMB...
MCX aluminium trading in multi-week downward sloping channel
Aluminium is trading in a multi-week downward sloping channe on Multi Commodity Exchange (MCX). For the last few sessions it has been trading in a sideways manner, which has formed a sideways channel. Recently, the base metal faced resistance near the upper channel line.br> Thus, here on it is...
Company shares of Aluminum Corporation of China Limited rally 3.85%
Shares of Aluminum Corporation of China Limited rose by 3.85% in the past week and 0.23% for the last 4 weeks. In the past week, the shares have outperformed the S&P 500 by 2.91% and the outperformance increases to 6.03% for the last 4 weeks. Aluminum Corporation Of China Limited has dropped 42.44%...
SMM aluminum market morning review
European and US stock markets rebounded last Friday. This, combined with appreciation of yuan, cheered market up. As such, LME aluminum rose from USD 1,560/mt to USD 1,616/mt. The light metal, though falling back later in the day, still ended up USD 48/mt or 3.08% at USD 1,605/mt. Trading volumes...
Hindalco seeks shareholders' nod to raise up to INR 6,000 crore
Aluminium maker Hindalco Industries seeks its shareholders' approval to raise up to INR 6,000 crore through issuance of non convertible debentures (NCDs) on private placement basis. "Consent is sought to offer or invite subscription to non convertible debentures up to an amount not exceeding INR...
Global beverage containers market to grow at a CAGR 2.83% during 2014-2019
A recently conducted market research reveals consolidation in the packaging industry is going to have a substantial impact on the market. Rexam, the premeire can maker, if merges with Ball will craete a gloabl leader in the metal beverage packaging indsurty. A deal to this effect was announced in...
Chalco swings to profit in H1 on cost cuts
Aluminum Corp of China Ltd (Chalco) posted a first-half net profit of 27.6 million yuan ($4.31 million), helped by lower production costs and rising sale prices of alumina products. Chalco swung to a net profit in the first quarter of this year after having posted a record loss in 2014 that was...
Aluminum Association updates on downstream market in US and Canada
Preliminary estimates indicate that aluminum demand in the United States and Canada (shipments by domestic producers plus imports) totaled an estimated 13,063 million pounds through June 2015, up 2.9 percent over the same period last year. Demand for semi-fabricated (mill) products totaled 9,349...
