“The likelihood of something happening is higher than we’ve seen in a long time,” Lloyd O’Carroll, an independent analyst and economist, said on April 11. “Will something absolutely happen? I don’t know if we can say that.”
Numerous factors currently at play could propel the smelting segment of the US aluminium industry back into prosperity.
Not least among those factors are high London Metal Exchange prices seen in recent weeks.
The LME’s three-month contract hit a more than two-year high of $1,972 per tonne (89.4 cents per lb) earlier this month. The price has since gone back down, landing at $1,902.50 per tonne (86.3 cents per lb) on April 13. Despite that slip, LME prices are still in line to top $2,000 per tonne (90.7 cents per lb) this year, a level not seen since 2014 and one that would be 39.4% higher than the...