Apr 9, 2018

Aluminum prices rise after U.S. sanctions Russian producer

A worker watches an aluminum slab getting lifted in a foundry operated by Rusal. Photo: Andrey Rudakov / Bloomberg via Getty Images 

Aluminum prices are rising following the Trump administration's sanctions on Russian aluminum giant Rusal last week, reports MarketWatch.

What it means: The prices are likely climbing on expectations that the sanctions will result in a smaller supply of aluminum worldwide, as Rusal produces 7% of the world’s aluminum. Meanwhile, Karen McBeth, content director of Metals Pricing at S&P Global, told MarketWatch that the sanctions could have a "lasting" effect on aluminum pricing in the U.S.

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The growing coronavirus recession threat

Illustration: Aïda Amer/Axios

In just a matter of weeks, top economists and investment bank analysts have gone from expecting the coronavirus outbreak to have minimal impact on the U.S. economy to warning that an outright recession may be on the horizon.

What's happening: The spread of confirmed coronavirus cases in Europe, the Middle East and the U.S., and the speed at which they are being discovered has set the table for the outbreak to have a larger and much costlier impact.

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Milwaukee Mayor Tom Barrett in 2012. Photo: John Gress/Corbis via Getty Images

Six people died in a shooting at the Molson Coors Brewing Company in Milwaukee on Wednesday, including the gunman, Mayor Tom Barrett told reporters at a Wednesday evening press conference with local police.

Details: All of the victims worked at the brewery complex, as did the shooter who died of "an apparent self-inflicted gunshot wound," police confirmed in a statement late Wednesday.

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Coronavirus updates: South Korea case count tops 2,000

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

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The big picture: COVID-19 has killed more than 2,850 people and infected over 83,000 others in some 50 countries and territories. The novel coronavirus is now affecting every continent but Antarctica, and the WHO said Wednesday the number of new cases reported outside China has exceeded those inside the country for the first time.

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