Tanking aluminium prices don't bode well for Tiwai smelter

Tue, 05 May 2020

Aluminium prices hit their lowest level in more than a decade in April on slumping demand as Rio Tinto – majority-owner of the Tiwai Point smelter – continues to mull the future of the plant.“Aluminium stocks are expected to reach record levels this year as demand has slumped – due primarily to fewer cars being produced,” said ANZ Bank agriculture economist Susan Kilsby.Aluminium prices fell 9.4 percent on the month and are down 20.5 percent on the year, according to the monthly ANZ commodity price index.Rio Tinto...

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