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A $5B hoard of aluminum

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Re: A $5B hoard of aluminum

#11

Post by orlp »

londons_explore wrote: post #8
Physkal wrote: post #2

Why would the aluminum stock not be useful after 10 years, oxidation?

It might be in specific forms ready to be processed - eg. blocks of specific dimensions or weights. After 10 years outside, it's probably covered in dust and grime, and gotten an oxide layer. It probably isn't immediately sellable to a car factory... But it could be reprocessed very inexpensively and become sellable. The loss of value would probably be well under 1%. People saying "it's so old, it's basically scrap"…

> and gotten an oxide layer

Aluminium has an oxide layer the second it comes into contact with air.

Re: A $5B hoard of aluminum

#12

Post by Cthulhu_ »

goldenkey wrote: post #3
Physkal wrote: post #2

Why would the aluminum stock not be useful after 10 years, oxidation?

Aluminum is very oxidation resistant once the initial thin oxide layer forms. I doubt that is the issue. I would guess the reason is similar and would be weathering/erosion due to being outside and pelted with sand/rain/etc.

Yeah I was going to say, repeated rain (which is slightly acidic) and the like will keep pelting it. I mean the lifetime can probably be extended if they store it inside a building, but that's a lot of building space.

Re: A $5B hoard of aluminum

#13

Post by londons_explore »

orlp wrote: post #11
londons_explore wrote: post #8

Earlier quoted context omitted.

It might be in specific forms ready to be processed - eg. blocks of specific dimensions or weights. After 10 years outside, it's probably covered in dust and grime, and gotten an oxide layer. It probably isn't immediately sellable to a car factory... But it could be reprocessed very inexpensively and become sellable. The loss of value would probably be well under 1%. People saying "it's so old, it's basically scrap"…

> and gotten an oxide layer Aluminium has an oxide layer the second it comes into contact with air.

Acids can make that much thicker. Acids that exist in the environment in small amounts...

Re: A $5B hoard of aluminum

#14

Post by jonathanwallace »

wombatmobile wrote: post #5

The aluminum market is a game. https://www.cnbc.com/2014/06/03/how-aluminum-became-a-cash-c...

And according to https://www.goodreads.com/en/book/show/40538538, it always has been.

In the referenced book, the author details how the aluminum cartel was dismantled under the threat of WWII needs because of their failure to promptly address the needs of the United States.

Re: A $5B hoard of aluminum

#15

Post by 14 »

londons_explore wrote: post #8
Physkal wrote: post #2

Why would the aluminum stock not be useful after 10 years, oxidation?

It might be in specific forms ready to be processed - eg. blocks of specific dimensions or weights. After 10 years outside, it's probably covered in dust and grime, and gotten an oxide layer. It probably isn't immediately sellable to a car factory... But it could be reprocessed very inexpensively and become sellable. The loss of value would probably be well under 1%. People saying "it's so old, it's basically scrap"…

I have a 1983 Honda and the aluminum shines like a mirror. It didn’t always. When I got it the metal looked dull and weather possible damaged. It is amazing what buffing it can do. From garbage to mirror finish. Very satisfying to watch aluminum being polished. The aluminum did loses some of the outer layer that had oxidizes but looks brand new once cleaned up. Looks new and has the structural integrity to be used in aircraft is not the same but for the purposes of a motorcycle cover it is just fine. There are many other applications for aluminum that structural integrity is not if concern like heat sinks. The LED light I am building uses aluminum extrusion as heat sink.

Re: A $5B hoard of aluminum

#17

Post by baybal2 »

The industry around the world is running out of aluminium. Aluminium mills are closing all around the globe, except for China.

Why? No magnesium. And China don't let out its magnesium.

Re: A $5B hoard of aluminum

#18

Post by gshubert17 »

tokai wrote: post #4

So the 'Buying spree' graph is apparently showing a surge of import. But it really doesn't show anything like that. Or am I just misunderstanding something?

The chart legend says it represents the total value of exports to Vietnam from its trading partners, equivalent to Vietnam's imports.

In 2015 and 2016 Vietnam's imports of aluminum were much larger than previous years and later years. The excess value over $4B (the level of subsequent years' imports) totals over $6B. I took 2015-16 to represent the surge of imports.

The price of Al seems to have been around 80 cents a pound at the end of 2016, http://m.kitco.com/getChartPage?symbol=al&width=438&height=2... (then select 5 years). At $1,600 a ton, that's nearly 4 million tons.

This more than covers the 1.8 million tons in the GVA stockpile.

Re: A $5B hoard of aluminum

#19

Post by raldi »

baybal2 wrote: post #17

The industry around the world is running out of aluminium. Aluminium mills are closing all around the globe, except for China. Why? No magnesium. And China don't let out its magnesium.

What’s the connection between the two metals?

Re: A $5B hoard of aluminum

#20

Post by jaclaz »

Only as a side note/curiosity, possibly one of the most valued sets of cutlery Napoleon III owned was an aluminium one:

https://history.stackexchange.com/questions/51115/did-napole...

Anyway until the late second half of the 1800's, it was considered as valuable as gold, if not more (article in French):

https://journals.openedition.org/archeosciences/560

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