Record aluminum prices in the United States and Europe will be sustained by Russia's mining tax for some months, but attempts to push prices even higher are likely to face headwinds.
According to stakeholder intelligence firm Alva, labour relations contributed <1% material impact last quarter but it fell to -11% in Q2, as industrial action increases across the mining sector.
This week, Biden set a goal for 50% of all vehicles sold in the U.S. to be “battery electric, plug-in hybrid electric or fuel cell electric” by the end of the decade.
A report by Wood Mackenzie states that an expected increase of solar’s share in the global power supply presents opportunities for the base metals sector.