Alcoa navigates impacts of Iran war
The Iran war has curtailed a market already tight due to curtailments in Mozambique and disruptions in Iceland. Alcoa is increasing production at some facilities.
The Iran war has curtailed a market already tight due to curtailments in Mozambique and disruptions in Iceland. Alcoa is increasing production at some facilities.
This project, which the Chicago-based producer expects to reach full production by the end of June, aims to increase total US primary aluminum production by 10%.
The construction market is seeing activity from data centers and the energy infrastructure to support them. But other factors are dragging the sector down: The Iran war is spiking inflation; tariffs are driving up material costs; and immigration crackdowns are hurting labor.
LME and Midwest premiums are rising, and a conflict in Iran is just one of several challenges the market is facing.
Contract negotiations between Alcoa and a United Steelworkers local in New York State are still on pause as the two sides work on economic proposals.
The CRU World Aluminium Summit will bring many of the leading voices together from around the world to share expert insights into the forces driving the industry.
A fragile two-week ceasefire has been struck been struck between the US and Iran. But much damage has already been done in the six weeks since strikes began.
Alterations to Section 232 tariffs on aluminum could make things easier on the administrative side by replacing the confusing content-based valuation system with a full-value assessment.
Keep informed on what your peers in the industry are saying about lead times, imports, logistics, prices and more.
Aluminum was very in the spotlight this past week on growing concern about damage inflicted on some of the Persian Gulf's key smelters.