Mitsubishi Materials to sell aluminum business to US fund

South Korea, Brazil and Argentina will benefit from the measure.

Russia has a plan to support world No.2 aluminium producer Rusal against U.S. sanctions put in place in April.

Contracts to export over 140,000 tonnes of alumina from China were signed in July amid a favourable price arbitrage.

In the United States, old aluminium smelters are being brought back to life.

Australia's South32 Ltd posted a 16 percent rise in its annual underlying earnings, as healthy demand for manganese and alumina helped offset tepid output at its Illawarra coal project.

As U.S.-China trade tensions escalated mid-June, fast-money traders flipped to a short position in metals overall.

The venture was expected to combine Granges' and Mitsubishi Aluminum' expertise in aluminium rolling.

Investors found no solace in traditional safe haven gold with the precious metal setting a one-and-a-half year low.

It's probably not what U.S. President Donald Trump had in mind when imposing tariffs on aluminium imports, but it looks likely that some of the big winners from the 10% import tax will be China's producers.