In Canada and the USA Aluminum prices have decreased slightly during July, while the prices of Aluminium in the UK have increased further.
The Global Market conditions in the Aluminum market are remaining bullish with speculation that demand will exceed supply over the coming months. Aluminum stock piles, which are monitored by the London Metal Exchange (LME) have lowered by 9.4% this year, and are at the lowest level in 22 months.
The producing mills are maintaining production cuts; this is not expected to change for some time, even if pricing recovers further.
The Aluminum stockpiles held around the world will continue to affect the global pricing conditions of this product. For example, the LME stockpiles are almost equal to the total demand of Aluminum in North America last year. At the current rate of consumption stock piles could last into 2017.
Canada: The Canada Border Services Agency will continue to impose anti-dumping duties on dumped importations and countervailing duties on subsidized importations of certain aluminum extrusions originating in or exported from the People’s Republic of China.
USA: Based on affirmative final determinations by the Department of Commerce and the International Trade Commission (“ITC”), the Department of Commerce is issuing an antidumping duty order on aluminum extrusions from the People’s Republic of China.
USA: In recent news, a U.S judge dismissed the London Metal Exchange Ltd (LME) as a defendant from a nationwide antitrust suit over alleged fixing of Aluminum prices. In this case, direct purchaser plaintiffs, commercial end user plaintiffs, consumer end user plaintiffs, and others accused the defendants who include Glencore Plc, Goldman Sachs Group Inc., J.P Morgan Chase & Co, and various other companies, of conspiring to drive up Aluminum prices by restricting supply. The recent decision does not affect the other defendants in the case.
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