Alex's Daily Alu Digest
Thursday, 21 May 2026
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3 stories
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LME Aluminium
$3,648/t
+$4 (+0.1%)
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Cash settlement · USD/t
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ECDP
$598/t
+$0 (0.0%)
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P1020A in-whs dp Rotterdam · USD/t
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Constellium shareholders approve $300m buyback at 2026 AGM; stock rises 7.3%
Constellium's 2026 AGM convened on 21 May in Paris with 16 proposals; shareholders approved the $300 million share repurchase programme through December 2028 alongside executive pay and board elections, driving CSTM shares 7.3% higher on the day.
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Novelis angle
Constellium's buyback capacity — enabled by its record Q1 2026 EBITDA of $359 million and raised full-year guidance to $900–940 million — signals competitive balance-sheet strength in European automotive and aerospace FRP at a time when Novelis is absorbing Oswego disruption costs and Bay Minette ramp-up investment.
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ACEA and European Aluminium call for CO2 rules to create demand for low-carbon aluminium
Europe's automotive and aluminium industries jointly called on 18 May for expanded compensatory mechanisms under the EU's CO2 regulations for cars and vans to formally recognise the carbon benefit of low-carbon materials such as recycled aluminium; together, the two sectors sustain 14.5 million jobs in the EU.
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Novelis angle
A favorable CO2 rules revision could give OEMs regulatory credit for specifying recycled aluminium in BIW and closures, directly strengthening the demand case for Novelis's high-recycled-content automotive sheet product line.
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LME aluminium fluctuates at highs as US-Iran war threat renewed
LME aluminium closed at $3,600.5/t (+0.38%) on 20 May as renewed US-Iran conflict rhetoric heightened Gulf supply concerns; LME on-warrant stocks fell 11,700 tonnes year-on-year to 346,500 tonnes, sustaining tight visible inventory.
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