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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Aluminum's losing streak extends to sixth day on glut concerns
Aluminum fell for a sixth day, the longest slump in three months, on concern that a glut will worsen amid weakening demand in China, the world’s biggest metals consumer. The Asian nation is boosting aluminum production at the same time that economic growth is expected to be the slowest in decades,...
Hydro CEO says no recovery in sight for aluminium price
Norway's Norsk Hydro, one of the world's largest makers of aluminium, does not expect the price of the metal to rebound in the short term, Chief Executive Svein Richard Brandtzaeg told Reuters on Wednesday. "When you evaluate the development in the market I think one of the most important factors...
Aluminum hits eight-week low as metals drop on China demand woes
Aluminum dropped to the lowest in almost eight weeks as other industrial metals retreated amid mounting concerns about demand in China, the world’s biggest raw-materials consumer. China Electricity Council cut its estimate on power-consumption growth this year after third-quarter usage failed to...
Global aluminum FRP market to grow at a CAGR of 3.64% during 2014-2019
According to a recently published market research report the global aluminum FRP market is likely to reach a CAGR of approximately 3.64% until 2019. The demand for aluminium FRP from the automobiles industry is driving the market. This is because aluminium FRP is replacing steel in automobiles and...
Aluminium gains by 0.1% on spot demand
Aluminium prices were up by 0.15% to INR 101.60 per kg in futures trade on October 15 as speculators enlarged positions even as metal weakened overseas. At the Multi Commodity Exchange, aluminium for delivery in October rose 15 paise, or 0.15%, to INR 101.60 per kg, in a business turnover of 406...
SMM aluminum market morning review
Aluminum on London Metal Exchange (LME) hovered around the 5-day moving average after opening at USD 1,593/mt on October 14, Wednesday, hitting a session low of USD 1,581.5/mt. But LME aluminum rallied later as gold prices jumped and the US dollar index fell back. Finally, the light metal ended up...
Aluminium futures soften 0.43% on muted demand, global cues
Aluminium prices were down 0.43 per cent to INR 103.15 per kg in futures trade today as speculators indulged in reducing exposure, triggered by sluggish demand from consuming industries at the spot market. A weak trend overseas also weighed on aluminium futures. At the Multi Commodity Exchange,...
Noble sells off aluminum stockpiles to shrink its metal franchise
Noble Group Ltd, in its effort to free up capital by reducing stockpiles of base metals, has been reported to be selling off some of its large holdings of aluminum, historically one of its biggest businesses. As part of a strategy to shrink its metals franchise, the second-biggest division by...
China's aluminum glut set to continue
Amid concerns over China's export push, aluminum prices hit a 6-year low of $1,506 per ton on the London Metal Exchange in late August. The commodity will likely have no choice but to remain top-heavy, unless global output declines in aluminum producing nations other than China. Mixed signals...
UC Rusal approves first dividend payout
Shares in United Company Rusal, the world’s biggest aluminium producer last year, rose in Hong Kong on Tuesday, October 13, after approving its first-ever dividend payment, even as commodity producers grapple with a rout in prices. The company, controlled by Russian billionaire and president Oleg...
Aluminium futures rise, fuelled by global cues
Aluminium prices went up 0.73 per cent to INR 103.50 per kg in futures trade today as participants strengthened their positions, supported by an upward trend overseas. In addition, strong demand in the spot market also influenced metal prices. At the Multi Commodity Exchange, aluminium for delivery...
Alcoa reaffirms aluminium demand forecast, lowers surplus forecast
Alcoa Inc., the largest U.S. aluminium producer, maintained its forecast for global consumption of the metal. Demand is set to climb by 6.5 percent this year, New York-based Alcoa said in its third-quarter earnings statement. That matched the company’s prediction in July. Analysts at Morgan Stanley...
Aluminium market rises on short covering, open interest drops 2.76%
Aluminium settled up 0.75% at 101.25 supported by expectations of a mild improvement in demand from top user China. China’s primary aluminium imports surged 40.65% MoM to 21,800 mt in August, customs data showed. In August, primary aluminium imports were largely under two trade modes, namely...
Global aluminium supply glut to increase by 20 million mt in 2019
The latest available data suggests the rising supply situation is likely to further inflate the global aluminum stock levels. The stock levels are most likely to exceed 20 million mt in 2019, the research note said. According to the analysts, the rapid pace of growth in the metal supply poses big...
CARE cuts rating for Hindalco debentures
Credit Analysis and Research Ltd. (CARE), one of the world's premiere credit rating agencies, has revised its grade for Hindalco Industries' non-convertible debentures from 'AA+' to 'AA' on continued moderation in profitability and debt protection parameters. The debt amount involved is INR 6,000...
SMM aluminum market morning review
LME aluminum shot up to USD 1,592/mt after opening at USD 1,559/mt on October 7. The light metal fell back later in the day, but then rallied to USD 1,577/mt. In overseas market, the euro zone’s final manufacturing PMI was 52.0 in September. ISM’s US manufacturing PMI was 50.2 in September,...
MAN Industries' shares surge on bagging orders worth INR 700 crore
MAN Industries shares surged over 7 per cent in the morning trade on September 8, Thursday, after the company informed Bombay Stock exchange (BSE) on Wednesday post market hours that it has received orders worth approximately INR 700 crore from international and domestic customers for supply of...
AAI pitches for a safeguard duty in meeting with India's Revenue Secretary
Facing the twin onslaught of galloping imports and meltdown in global prices, the domestic aluminium industry on Wednesday made a strong pitch for a safeguard duty breather in its meeting with revenue secretary even as its demand for doubling import duty to 10% remains unanswered. Sources said...
