The US International Trade Commission issued an affirmative preliminary determination that imports of van-type trailers and subassemblies from Canada, China and Mexico are materially injuring the domestic industry, advancing the AD/CVD investigations while scope and product disputes continue.
A deal between Rio Tinto and Aluminum Corporation of China Limited (Chalco) to acquire Votorantim’s 68.6% interest in Companhia Brasileira de Alumínio (CBA) in Brazil has left some people scratching their heads.
As China approaches its long standing primary aluminum production cap, shifting supply dynamics such as offshore capacity growth and redirected Russian metal are reshaping how the country's future demand is met by global supply.
AMU contributors Greg Wittbecker and Edward Meir spoke on a wide range of topics during a Community Chat on Thursday, Jan. 22.
Rising global capital and power costs, driven by China's production cap and higher-cost expansion in Indonesia, are structurally resetting aluminum's incentive price, making higher LME levels necessary to unlock new primary capacity outside China.
China's expanding trade surplus reflects a strategic rotation away from US markets and toward higher-value exports, even as domestic demand remains under pressure.
From the physical side, as prices for key commodities soar, demand retrenchment – if not outright destruction – materializes. We see this sign most clearly in the Chinese physical markets, which have turned extremely quiet of late in light of the steep price run-ups. That’s particularly the case in copper, nickel, and aluminum.
The organization is urging the US government to use the United States-Mexico-Canada Agreement to stop unfairly subsidized Chinese aluminum from entering the market.
The outcome of the investigation by the DOC and ITC would shape the competitive landscape and the structure of the US trailer supply chain for years to come.
Bullish sentiment remained in place in US equity markets this past week as a de-escalation in US-China trade tensions and strong earnings reports from several "Mag-7" names offset the rather hawkish remarks on interest rates made by Fed Chair Jerome Powell on Wednesday. For the week, the NASDAQ Composite gained 2.2%, while the S&P 500 and the Dow each were up by about .7% in what has been an incredible run.