May 2020

Aluminium overcapacity here for foreseeable future, former Norsk Hydro CEO says

Overcapacity in the aluminium industry is highly unlikely to be erased in the foreseeable future, according to the former head of Europe’s largest aluminium producer, Norsk Hydro.

IN CASE YOU MISSED IT: 5 key stories from May 28

Here are five Fastmarkets stories you might have missed on Thursday May 28 that are worth another look.

Nissan to close Barcelona carmaking plants in December 2020

Japanese carmaker Nissan intends to close three plants at its Nissan Barcelona operations in Spain from December 2020, the company said on Thursday May 28. The units affected will be at Zona Franca, Montcada and Sant Andreu.

Alcoa brings consultation for collective dismissal at San Ciprián smelter

Aluminium producer Alcoa said it has started a consultation period for a collection dismissal process for staff, as well as the possible shutdown, of its San Ciprián aluminium smelter in Spain.

China alumina price diverts on opaque market

The China alumina market split into different directions this week with higher deals pulling up the high end while weak demand from other aluminium producers dragged the low end down, sources said on Thursday May 28.

FOCUS: Aluminium traders shy away from wide open SHFE arbitrage

The disconnect between London Metal Exchange and SHFE aluminium prices has opened an arbitrage window to China but the international aluminium market is wary of taking advantage of it, Fastmarkets understands.

Metal traders take LC 'haircuts' after banks get picky on commodity finance

Metals traders have begun to feel the pinch after a turbulent period in commodity markets have caused some banks to step back from fully financing cargoes under letters of credit (LC).

Demand from China continues to push alumina prices upward

Alumina prices on an fob Australia basis continued to climb over the past week with buyers from China happy to pay above market levels to import cargoes, Fastmarkets heard on Tuesday May 19.

A380.1 price loses further ground in US

Most secondary aluminium alloy prices in the United States, including the benchmark A380.1, edged down on Thursday May 14, with producers expecting a slow recovery in demand despite automakers restarting production this month.

EU CARMAKER CLOSURES 13/05: Ford production resumes at all EU, UK sites

Car manufacturer Ford has announced that it intends to restart initial production at two plants in the UK and one in Valencia, Spain, from May 18, which will complete the restart of all its European units, it said on Wednesday May 13.