Noranda Aluminum Holding Corp
Higher Nonresidential Construction Spending Is Good for Aluminum
Nonresidential construction spending increased 4.7% in March. It accounts for about two-thirds of total construction spending.
Global Supply to Rise as China Eases Aluminum Export Taxes
In its latest move, China has removed the export duty on several products, including rods and strips made from primary aluminum.
Steep Correction in Aluminum Prices Is Negative for Alcoa
Spot aluminum prices were trading at $1,750 per metric ton on May 19, dropping more than $200 per ton in the preceding two weeks.
Curious Case: Aluminum Premiums in the Midwestern US
In May, aluminum premiums dropped more than 30%. Since the start of 2015, the Midwest’s aluminum premiums have decreased almost 60%.
Can Aluminum Prices Recover after the Meltdown in May?
Fundamentally, aluminum demand has been strong, so far, in 2015. This should also lend support to aluminum prices.
LME Aluminum Prices at Highest Level This Year
LME aluminum prices were trading at $1,900 per metric ton on May 6. This is the highest level for aluminum prices since December 12, 2014.
China’s Aluminum Exports Decline in March, Positive for Alcoa
China’s aluminum exports in March were down 3% on a year-over-year basis. In February, aluminum exports increased by more than 150%.
Aluminum Prices Are Trading Sideways in April
Aluminum was trading at $1,770 per metric ton on April 10. Aluminum prices have largely traded sideways so far in April.