Spot aluminum premiums have climbed to their highest price in nearly five years, in the face of mounting warehouse stockpiles. The amount of aluminum stored in warehouses has climbed to a 32-year high.
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North America’s largest manganese mining company, Cia. Minera Autlan SAB, has reported larger than expected sales in the first quarter. The company’s share price has risen on the report and there is speculation that the company may issue a dividend this year despite last year’s revenue shortfall.
Major manganese mining companies are on the offensive, securing new operations in an attempt to capitalize on growing demand for steel. Analysis from leading iron ore companies anticipate the global demand for steel growing, due largely to emerging economies, for at least a decade.
Molybdenum producers have had a busy week, with multiple mergers and new mining operations announced as demand rises.
The industrial metals sector as a whole is expected to improve this year and next as global economic growth improves, although the going will be slow. RBC Capital Markets recently gave its perspective on the short- to medium-term silver market expecting silver’s fundamentals to remain positive as industrial and investment demand increase and outpace new mine supply in 2010.