US aluminium ingot price rises 2.58% MoM in April

Following recent smelter shutdowns, only two companies in the US reported domestic production of primary aluminium, noted US Geographical Survey in their latest issue of Mineral Industry Surveys. Consequently, beginning in February 2016, monthly production data were withheld to avoid the release of proprietary data. According to the latest Mineral Industry Surveys data published by the USGS, at the end of April, approximately 750,000 metric tons per year of capacity was operating at primary aluminium smelters in the United States according to public statements by the two companies that own the smelters.

Prices and Stocks:

The monthly average U.S. market price of primary aluminium ingot increased to $0.793 per pound in April from $0.773 per pound in March. The monthly average price decreased to $0.786 per pound in May.

Inventories of primary aluminium in London Metal Exchange Ltd. approved warehouses in the United States continued their downward trend, decreasing to 299,000 t at the end of April, and 280,000 t at the end of May, their lowest level since September 2007.

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