As voices from aluminium associations across US trade-allied nations grow louder, one consensus is becoming clear that the United States’ decision to increase tariffs on aluminium imports to 50 per cent is unlikely to benefit its global partners.

Vedanta Aluminium, India’s largest aluminium producer, in partnership with NITI Aayog and leading national institutions, recently hosted a high-level stakeholder meeting to identify sustainable applications for red mud, a key byproduct in the bauxite refining process for making aluminium.

The aluminium associations of the United States, Europe, Canada, and Japan have approved a new report by the Organisation for Economic Cooperation and Development (OECD) titled "Quantifying the Role of State Enterprises in Industrial Subsidies."

LME copper prices opened at $8600/mt and closed at $8559/mt overnight, down 0.57%, with the highest of $8607.5/mt and the lowest of $8495/mt.

At last Friday’s night session, the most-traded SHFE 2404 aluminium contract opened at 18,785 yuan/mt, with its lowest and highest at 18,700 yuan/mt and 18,840 yuan/mt before closing at 18,730 yuan/mt, down 120 yuan/mt or 0.64%.

SMM data showed that in January, China's copper cathode output was 969,800 mt, a month-on-month decrease of 29,600 mt or 2.96%, but a year-on-year increase of 13.65% or 116,500 mt; the output is 16,200 mt higher than the expected 953,600 mt.

According to SMM statistics, China's aluminium output was 3.562 million mt in January (31 days), up 4.2% YoY.

In the futures market, the most-traded SHFE 2402 aluminium contract opened at 19235 yuan/mt overnight, with its low and high at 19200 yuan/mt and 19280 yuan/mt before closing at 19240 yuan/mt, up 50 yuan/mt or 0.26%.

The LME was closed due to the Christmas Day holidays.

According to SMM statistics, China's domestic aluminium production for September 2023 was 3.523 million mt, up 5.5% YoY.