Amid tighter market conditions, Norsk Hydro has called for sanctions on Russian-origin aluminum, given its increasing dominance in LME stocks and its potential impact on LME pricing.
started to rebound in the short term, they have yet to breach ranges that would signal the beginning of a new trend. Indeed, prices continue to create an uncertain environment for the aluminum market due to the lack of direction. Norsk Hydro, Alcoa See Q2 Demand Fall, Impacting Aluminum Prices
In the U.S., the Midwest premium has remained bearish since January, and currently sits at its lowest level since October 2022. While certain sectors, including the automotive sector, continue to post robust sales, weakness elsewhere has translated to lower demand and, thus, a lower regional premium. Meanwhile, the ongoing contraction of the U.S. manufacturing sector has yet to show any meaningful turnaround. Until it does and funding delays related to infrastructure projects resolve, the U.S.
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