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Aluminum Industry Sees Slight Uptick Amid Global Uncertainty

Strategic Insights

— 2 min read

The world aluminum output witnessed a 167,000 metric ton increase in March, reaching 2.021 million tons, according to the International Aluminum Institute. This slight uptick comes as the industry faces intense scrutiny due to proposed mergers and declining commodity prices. Meanwhile, Russia has agreed to a $4 billion contract with Airbus to supply titanium, while Zambia's Competition Commission has implemented measures to safeguard copper mine investment. The Indian state-run National Aluminium Co. is also working to restart operations at its bauxite mines.

Key Takeaways:

  • The International Aluminum Institute reported a 167,000 metric ton increase in world aluminum output in March, bringing the total to 2.021 million tons.
  • Rio Tinto PLC chairman Jan du Plessis is facing shareholder pressure over the company's proposed $19.5 billion tie-up with Aluminum Corp. of China.
  • Russia has signed a $4 billion contract with Airbus to supply titanium, as announced by Prime Minister Vladimir Putin.
  • The Zambian government has implemented a ban on mine owners removing equipment from copper mines to ensure continued investment.
  • Zambia's state-run Competition Commission executive director announced measures to safeguard copper mine investment.
  • India's National Aluminium Co. expects to restart operations at its bauxite mines in Orissa within two days.
  • China's State Reserve Bureau may not stockpile significant amounts of aluminum, copper, and zinc over the next three years due to recovering prices.
  • The London Metal Exchange saw base metals trade lower in Europe on Monday due to a stronger dollar against the euro and lower equities.
  • Copper futures on the Shanghai Futures Exchange closed down on Monday, correcting from recent excessive price rises.

Statistics:

  • 167,000 metric tons: The increase in world aluminum output in March.
  • 2.021 million tons: The total world aluminum output in March as reported by the International Aluminum Institute.
  • $4 billion: The contract value between Russia and Airbus for titanium supply.
  • $19.5 billion: The proposed tie-up value between Rio Tinto PLC and Aluminum Corp. of China.
  • $10.73: The ACH price on 11-10-2008 when the Comtex SmarTrend Alert indicated an uptrend.
  • 1003ET: The time when the Dow Jones Newswires article was published.
  • 04-16-2009 23:59: The time when the Comtex SmarTrend Alert was updated.

Sources:

  • Dow Jones Commodities News
  • Comtex
  • International Aluminum Institute
  • Anglo-Australian miner Rio Tinto PLC
  • Aluminum Corp. of China
  • European aircraft manufacturer Airbus
  • The Daily Mail of Zambia
  • Zambia Competition Commission
  • National Aluminium Co.
  • China's State Reserve Bureau
  • London Metal Exchange
  • Shanghai Futures Exchange
  • Dow Jones Newswires
  • Comtex News Network, Inc.

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