The turmoil in the metals market that sent aluminum to its worst slump in almost eight years isn’t over. Buckle up for a longer bumpy ride ahead.
Aluminum led losses among metals Monday after the U.S. Treasury Department opened the door to relief from sanctions to United Co. Rusal, the largest aluminum producer outside of China. That triggered a selloff in the lightweight metal less than a week after the Rusal curbs sent prices soaring to an almost seven-year high.
While the Treasury Department’s statement signal the refined metal produced by Rusal could soon be back in the market, other uncertainties persist. Among those is the question of the flow of alumina, the main raw material used to make the refined metal. Continue Reading →