Aluminum Prices Defy Expectations

Via Metal Miner Falling exchange prices and rising LME inventories this year indicate that primary aluminum is currently in ample supply. So far, aluminum prices have slightly increased since the beginning of the month as inventory levels have steadily declined. However, while the metal leaving the exchange has been Indian, a good, deliverable brand, the metal arriving has been Russian, which faces sanctions in much of the West. Nevertheless, as my colleague Nichole Bastin reported just last week, rising Chinese primary aluminum production—up…