AMU
July 19, 2024
CRU aluminum news roundup
Written by Marziyeh Horeh
Rio Tinto reports decline in recycling output in Q2
Rio Tinto published its latest operational results for the second quarter. Primary production was 824,000 metric tons (mt) in Q2, 1% higher year over year (y/y). ISAL in Iceland returned to 100% capacity after reducing its electricity load following volcanic eruptions in the prior quarter. Average realized aluminum prices including premiums for value-added products (VAP) decreased 4% to $2,746/mt in the first half of 2024. Although the LME price increased was up 1% y/y, the Midwest premium was down 28% y/y, which is 59% of total volumes. VAP sales decreased to 45% of primary metal sold in the first half of 2024 versus 47% last year.
