Magnitude 7 Metals to Restart Missouri Smelter, Boosting US Aluminium Output by 20%

Magnitude 7 Metals has announced plans to restart its smelter in Missouri, a move that is projected to increase US aluminium production by 20%. This development comes at a time when the aluminium market is grappling with a sentiment score of 7, reflecting a significant level of extreme fear among investors. Despite this cautious atmosphere, with a current coverage of 41 indicating a neutral stance in market discussions, the restart could provide a much-needed boost to domestic production capabilities. Analysts note that the recent three-month rate of change in aluminium prices has seen a decline of 10.83%, suggesting a potential turning point as supply constraints ease. The anticipated increase in output may help alleviate some pressure on prices, which have been affected by fluctuating demand and geopolitical uncertainties.