Tag: Energy

It was a very hectic week in a number of markets, but not so much in the ferrous and nonferrous metals space.

Markets remain transfixed on developments in the Middle East

Aluminum prices were up by 2% on the week. No surprise here because the complex tends to track crude oil prices closely.

Hydro has reached two recent deals involving its operations in Europe.

We saw lower moves in base metals. Aluminum prices retreated by about 6.3% last week, shadowing crude lower on rising perceptions of easing metal outflows.

A liquified natural gas (LNG) processing site suffered a "technical accident" in Ras Laffan industrial zone on Sunday night, according to the BBC, citing the interior ministry.

With a tenuous memorandum of understanding signed between the US and Iran, crude oil prices continued to sell off this past week, although the declines were not as steep as what we saw in the week prior.

Oklahoma Attorney General Gentner Drummond's challenge to the proposed Inola aluminum smelter shifts the debate from what regulators may decide to whether the permitting process should be allowed to reach a conclusion.

Going into this week, focus will remain on US equity markets as investors wait to see whether Friday's selloff will intensify, in which case we could see knock-on price declines in a number of other complexes—including base and precious metals.

Rio Tinto has started commissioning its AP60 expansion at Arvida, adding 160,000 metric tons of annual primary aluminum capacity while replacing older production assets.