Aluminum anyone? Russia sanctions might see a nice price uptick

So we've got a 10% tariff on imports of aluminum to the U.S., plus sanctions on Russia, which include it's Rusal aluminum company. Things are looking good for US aluminum. 

On Friday morning, April 13, cash settlement prices for aluminum on the London Metal Exchange were up 18% from the morning of April 6, ahead of the sanction news, at $1.05 a pound, or $2,325 per metric ton, with gains driven by the assumption that the global market will tighten, says Karen McBeth, content director of Metals Pricing and Market Engagement at S&P Global Platts. The U.S. imported 744,266 metric tons of aluminum products from Russia in 2017, making the country the third-largest import source, she says, citing Census Bureau data.

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looking good, indeed

 

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Screen Shot 2018-04-16 at 8.17.14 AM.png

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Century Aluminum took a dive ... Alcoa pared some of its gains ... did someone call off the tariffs or something? Not sure what's driving them down now. Have to check out the other fundamentals. 

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