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Egyptalum and Alba Evaluate $3 Billion Alumina Refinery in Egypt
On September 3, during the Egyptian-Bahraini Investment Forum held in Cairo, Egyptalum (The Aluminum Company of Egypt) and Aluminum Bahrain (Alba) signed a memorandum of understanding (MoU) to evaluate the feasibility of building an alumina refinery in Egypt, with an...
Metals Markets: Record Cancellations for Aluminum at the LME, Copper Supported by Grasberg
On Tuesday, September 9, new cancellations of aluminum warrants at the London Metal Exchange (LME) reached 67,400 tonnes, a level that significantly outpaced other metals. By comparison, cancellations for zinc and lead stood at 1,000 and 1,025 tonnes, respectively,...
Copper in the United States and Aluminum in Brazil: Diverging Premiums Between Calm and Rises
The US market for cathode grade 1 copper continues to experience a period of calm, with spot premiums stable as of September 9th. According to valuations, the US Midwest cathode premium settled at 4-6 cents/lb, unchanged from the previous week. Four indicators of spot...
Anglo American and Teck Resources: A Merger That Won’t Solve the Global Copper Shortage
The merger announced on September 9 between Anglo American and Teck Resources will create a copper giant with a combined production of approximately 1.2 million tonnes annually, expected to grow to 1.35 million tonnes by 2027. The new entity, called Anglo Teck, will...