HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » General Discussion (Forum) » The $5 billion hoard of m...

Thu Nov 25, 2021, 08:11 PM

The $5 billion hoard of metal the world wants but can't have

On an industrial park about an hourís drive toward the South China Sea coast from Ho Chi Minh City sit giant mounds of raw metal shrouded in black tarpaulin. Stretching a kilometer in length, the much-coveted hoard could be worth about $5 billion at current prices.

In the esoteric world of aluminum, those in the know say the stockpile in Vietnam is the biggest they have ever seen ó and thatís in an industry that spends a lot of time building stockpiles while analysts spend a lot of time trying to locate them. But as far as the increasingly under-supplied market is concerned, itís one that may never be seen again.

snip

While there used to be millions of tons of aluminum at ports from Detroit and New Orleans in the U.S. to Rotterdam in Europe and Malaysiaís Port Klang, market watchers say the stockpile 50 kilometers from Vietnamís biggest city is likely the only notable one left.

To put it in perspective, itís equivalent to the entire annual consumption of India, the worldís second-most populous country, said Duncan Hobbs, a London-based analyst at commodities trader Concord Resources who has been covering metals markets for 25 years.

snip

The hoard was seized as part of a U.S.-led anti-dumping investigation in 2019 focusing on a Chinese billionaire. The Vietnamese authorities say it was accumulated from China by Global Vietnam Aluminium Ltd., known as GVA. They havenít concluded their investigation, though the initial probe into GVA was dropped because of a lack of evidence.

snip

The blistering rally in prices means the value of the metal has risen more than 50% since it was impounded. If the stockpile ever started moving, the impact could be seismic. It would be more than enough to erase a global deficit that has emerged in the aluminum market this year, and a fire sale could send prices crashing.

https://www.japantimes.co.jp/news/2021/11/22/business/aluminum-supply-vietnam/

6 replies, 2912 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 6 replies Author Time Post
Reply The $5 billion hoard of metal the world wants but can't have (Original post)
rpannier Nov 25 OP
marble falls Nov 25 #1
Demovictory9 Nov 26 #2
onethatcares Nov 26 #3
myohmy2 Nov 26 #4
onethatcares Nov 26 #5
marie999 Nov 26 #6

Response to rpannier (Original post)

Thu Nov 25, 2021, 08:24 PM

1. Law of unintended consequences.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to rpannier (Original post)

Fri Nov 26, 2021, 02:58 AM

2. very interesting

Reply to this post

Back to top Alert abuse Link here Permalink


Response to rpannier (Original post)

Fri Nov 26, 2021, 07:23 AM

3. one beer can at a time

and even you can become an aluminum tycoon.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to onethatcares (Reply #3)

Fri Nov 26, 2021, 07:41 AM

4. plastic tycoon...?

...I'm waiting for the plastic beer can...

...the plastic automobile engine with steel inserts ...

...how about coffee...over the last several years coffee's gone from steel can to paper can to plastic can to plastic bag...

...I wanna be a plastic tycoon...

Reply to this post

Back to top Alert abuse Link here Permalink


Response to myohmy2 (Reply #4)

Fri Nov 26, 2021, 07:47 AM

5. great idea

but recycling plastic is so expensive that its cheaper to make new.


At least that's what the plastic making companies have been telling us for years.

See "The many uses of petroleum and plastics" at the google nearest you.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to myohmy2 (Reply #4)

Fri Nov 26, 2021, 07:47 AM

6. The Graduate, I just want to say one word to you, plastics

Reply to this post

Back to top Alert abuse Link here Permalink

Reply to this thread