LME warehouse queue returns after jump in aluminum orders

The South Korean automaker signed a memorandum of understanding with Adaro Minerals in 2022.

The combined company would have 15 production sites across the United States, Canada and Mexico.

Century Aluminum's proposed low-carbon facility represents the first primary aluminum smelter in the US in 45 years.

The West African nation last year provided 70% of China’s imports of bauxite, which is used to produce aluminum.

The LMEX Metals Index, which tracks the six main base metals, rose to an eight-month high earlier in March.

Prices reached the highest point since January due to concerns about the slow recovery of production in the Chinese province.

The initiative, the single largest industrial decarbonization investment in US history, will subsidize 33 industrial projects in 20 states.

Among Goldman’s year-end forecasts, copper was seen at $10,000 a ton, aluminum at $2,600 a ton, and gold at $2,300 an ounce.

Copper has experienced the sharpest seasonal stocks build this year.