The London Metal Exchange (LME) aluminium price chart recovered on the November 9 trading session, wish cash reporting nearly 1 per cent gain compared to the November 6 close. Longer-dated contracts and inventories, however, edged lower. The LME aluminium cash bid as well as offer prices gained 0.96 per cent day-on-day on November 9. The bid recovered from USD 3,115 per tonne to USD 3,145 per tonne. The offer price surged from USD 3,117 per tonne to USD 3,147 per tonne . Explore- Most comprehensive and forward-looking industry-focused report — Global Bauxite & Alumina Market Forecast to 2036: Supply–Demand, Trade Flows & Price Outlook The LME aluminium three-month bid price reported a 0.33 per cent rise from USD 3,049 per tonne on November 6 to USD 3,059 per tonne on November 9. The offer...
Iran is expanding its domestic aluminium manufacturing capabilities through nanostructured anodising technology, developing specialised aluminium sheets and profiles for applications across aerospace, medical equipment, electronics and automotive industries. The initiative reflects a move towards higher-value aluminium products by improving the metal's surface properties and expanding its potential industrial applications. According to Pars Today, citing Mehr News Agency, an Iranian aluminium complex is using the technology to produce aluminium components with nanostructured ceramic coatings designed to improve resistance to corrosion and wear. The complex is also working on developing specialised aluminium standards and has so far established eight standards in this field. The...
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The Chinese aluminum cash price experienced the biggest price shift of the day, dropping three percent to close near $2,500 per metric ton on June 26, 2012. Chinese aluminum billet prices saw a 0.3 percent decline. The price of Chinese aluminum bar held steady in the $2,200 per metric ton range. The price of Chinese aluminum scrap continues to hover near $2600 per metric ton for the fifth day in a row. The cash price of primary Indian aluminum finished the market day up 0.6 percent per kilogram. On the LME, the primary aluminum cash price declined 0.4 percent to $1,816 per metric ton. On the LME, the aluminum 3-month price fell 0.3 percent to $1,858 per metric ton.
China and the rest of the world (RoW) were in a physical aluminum market deficit in May as global aluminum demand grew 7.7% year-on-year, said Harbor Intelligence in a research note. According to the Harbor Intelligence, under the traditional formula (production plus/minus visible headline inventory movement), global apparent primary aluminum demand grew by a seasonally adjusted monthly rate of 8.4% to an annualized level of 47.1 million tons. Apparent primary aluminum demand grew in both China and the RoW during May, with RoW delivering the bulk of the monthly growth, they added. Overall, global apparent primary demand surpassed global primary output by 2.6 annualized million tons in May. "This apparent global market deficit was composed by a deficit of 1.2 million tons in China and a...
Alcoa Inc. saw its earnings estimates slashed Tuesday by Deutsche Bank Securities, which cited lower aluminum prices and production cuts. The downward revision comes two weeks ahead of the Dow component’s scheduled release of second-quarter results on July 9. Deutsche analyst Jorge Beristain wrote in a research note that he now expects Alcoa (US:AA) to earn of 4 cents a share for the three months ended June 30, down from an earlier estimate of 16 cents. His revised earnings outlook is 4 cents below the FactSet consensus of 8 cents per share. Beristain pinned the move on a quarter-over-quarter drop in aluminum prices to $1.06 per pound, down 5 cents from this time last year. He also said maintenance and repair costs at the company’s smelters would weigh on the bottom line, with some of...
London copper dropped on Wednesday, snapping two straight days of gains, as investors shied away from riskier assets on growing conviction that a European summit this week will fail to resolve the region's intractable debt crisis. But expectations that top copper buyer China could be lured by low prices and start restocking could help check losses. Three-month copper on the London Metal Exchange fell 0.2 percent to $7,344.50 a tonne by 0717 GMT. LME copper has shed about 16 percent from a peak of $8,765 struck in February. The most-active Shanghai October copper contract rose 0.2 percent to 53,740 yuan ($8,400) a tonne, reversing earlier losses, on limited restocking by Chinese consumers at recent low prices. Shanghai copper hit a low of 53,420 yuan a tonne earlier in the session, its...
EMAL has announced the launch of a new added value product in 2012: foundry aluminium which is mainly used in the automotive sector. The addition of foundry to EMAL's portfolio is part of its long term vision of producing more value added products as it develops into one of the world's largest single-site aluminium smelters. Total annual production at the Al Taweelah will rise to 1.3 million metric tonnes once the Phase II expansion is completed in 2014. EMAL President and CEO, Saeed Fadhel Al Mazrooei, said: "As a world-leading company, operating in a global market, it is important that EMAL is flexible to changing demand. The automobile sector is an important and growing segment in the aluminium market , and EMAL is not only well placed to manage this growing demand both in terms of our...
Australia's Bell Bay aluminium smelter reached a new 13-year power supply deal to help secure the long-term future of the 182,000-tonnes-a-year plant in the face of depressed market conditions, miner Rio Tinto said on Thursday. The 57-year-old smelter, located in the island state of Tasmania, is among an estimated $8 billion worth of assets bundled by Rio Tinto into its newly formed Pacific Aluminium division ahead of a possible divestment. Terms of the power contract with the state-owned supplier Hydro Tasmania were not disclosed. Bell Bay general manager Ray Mostogl said in a statement tough market conditions were expected to continue for some time. The price of aluminium is down more than 20 percent this year. Rio Tinto in October signalled a major retreat from its aluminium business,...
Applied Rigaku Technologies, Inc. today announced a new empirical method for the analysis of iron in aluminum. Commercial production of aluminum begins with the separation of aluminum oxide from the iron oxide in bauxite, the primary source of aluminum. The alumina, silica and iron content of the ore samples help determine purity and alloy quality, thus playing a significant role in the selection of a bauxite mine site. The concentration of iron is also particularly important during the smelting process to control the grade of the aluminum produced. The levels of iron are therefore closely monitored in the QA/QC process, which requires a simple and fast analysis in order to maintain the optimum product output. The Rigaku NEX QC is designed to be an ideal tool for the non-destructive...
Below are the three companies in the Aluminum industry with the lowest forward price to earnings (P/E) ratios. Forward P/E uses estimated earnings to compare relative value among companies in the same industry. Generally, the lower the forward P/E, the more undervalued a company is believed to be.Alumina ranks lowest with a a forward P/E ratio of 2.65. Noranda Aluminum is next with a a forward P/E ratio of 5.33. Century Aluminum ranks third lowest with a a forward P/E ratio of 7.45. Alcoa follows with a a forward P/E ratio of 8.58, and Kaiser Aluminum rounds out the bottom five with a a forward P/E ratio of 12.18. SmarTrend recommended that its subscribers protect gains by selling shares of Alumina on February 14th, 2012 by issuing a Downtrend alert when the shares were trading at $5.01....
Aluminum prices have fallen to a two-year low on the London Metal Exchange (LME), pressured by a mix of technical and fundamental factors that are weighing on the broader base-metals complex, given growing concerns about the health of the global economy. Traders and brokers said sellers appeared to be taking advantage of any aluminum price rallies to pummel the price lower amid lack of enthusiasm for both aluminum's weak underlying fundamentals as well as macro-economic concerns over the European sovereign-debt crisis and its impact on global economic growth. LME aluminum for delivery in three months on Tuesday hit a low of $US1,839 a metric ton, a level last seen in June 2010. Meanwhile, LME zinc and lead for delivery in three months were similarly lower, dipping to a nine-month low of...
Below are the three companies in the Aluminum industry with the lowest forward earnings yields. Using projected earnings for the current fiscal year, the forward earnings yield is useful to compare a stock's return vs. owning a similar stock or other yield assets (e.g. bonds). Generally, the higher the earnings yield, the more undervalued the stock.Century Aluminum ranks lowest with a forward earnings yield of 1.1%. Following is Alumina with a forward earnings yield of 2.4%. Alcoa ranks third lowest with a forward earnings yield of 6.6%. Kaiser Aluminum follows with a forward earnings yield of 7.2%, and Noranda Aluminum rounds out the bottom five with a forward earnings yield of 12.1%. SmarTrend recommended that its subscribers protect gains by selling shares of Noranda Aluminum on March...
Higher borrowing costs for Spain and Italy have added to worries on the European debt crisis. US home prices rose for a third successive month, but the nation’s consumer confidence and manufacturing data have trailed estimates, weighing on LME aluminum prices. The light metal lost USD 20/mt or 1.07% to settle at USD 1,848/mt, after slipping to a fresh two year low of USD 1,839/mt. Latest LME aluminum stocks were down 1,725 mt at 4,849,975 mt. Aluminum prices should remain weak today as investors await results of the coming EU Summit. LME aluminum is expected to face stronger pressure at USD 1,850/mt and hover between USD 1,828-1,858/mt. The most active SHFE aluminum contract for October delivery should start near RMB 15,070/mt and test support at RMB 15,000/mt. Its trading band is...
It may come as no surprise to anyone tracking the gradual decline of the aluminum price over recent months, but the market remains in pronounced surplus. The World Bureau of Metal Statistics’ January-to-March quarterly report estimates the global market was in surplus by 384,000 tons during the first quarter (Q1), down on an annualized basis from the 1,814,700-ton surplus for the whole of 2011. Part of the reason for the reduction in surplus may well be that net imports of 33,700 tons into China turned the world’s largest consumer from being a net exporter (of some 433,000 tons) last year to a net importer. European demand continues to contract — EU27 demand for January to March being 13.7 percent below the comparable period in 2011, according to the WBMS. If Q1’s global surplus is...
The boom in the construction sector is rippling into the aluminium extrudes market for various applications, giving a huge boost to the aluminium billet market. The growing automotive and industrial sectors in Malaysia, Taiwan, Thailand and Vietnam have expanded the market for aluminium profiles and this superior demand has, in turn, enhanced the production capacities of existing extrusion companies. Strategic Assessment of Aluminium Billets Market in Selected Far East Countries, finds that the current market volume for aluminium billets is 960,545 MT. It is expected to grow to 1,135,656 MT at a compound annual growth rate of 4.4 per cent from 2010 to 2016 in the selected countries of Indonesia, Taiwan, Thailand and Malaysia. "Regional extruders import aluminium billets from China, India...
Total world aluminum inventories in May dropped by 21,000 metric tons to 2.396 million tons, according to figures released Tuesday by the International Aluminum Institute. World stocks in April stood at a revised 2.417 million tons. May stocks were up 966,000 tons compared with the same month of 2011, when inventories were recorded at 1.43 million tons, the IAI said. Unwrought aluminum is aluminum in its basic cast form made from primary metal or from scrap and which is unworked in the metallurgical sense. Total aluminum is unwrought aluminum plus unprocessed scrap, metal in process and finished semi-fabricated (mill) products. Unwrought and total aluminum inventories are all relevant inventories over which primary aluminum producers have some degree of control, with the exception of...
Barring copper utensils and aluminium ingot, ferrous and non-ferrous categories remained flat today on scattered demand from stockists, traders at the Bombay Metals Exchange (BME) said. In ferrous metals, copper utensils rose by Rs 100 per quintal following better demand from stockists, traders said. Other metals including copper heavy, brass utensils and aluminium utensils remained unchanged, traders said. In non-ferrous metals, aluminium ingot increased by Rs 100 per quintal due to lesser stock supply from local dealers. While, copper wire bars, zinc slab, tin slab and nickel cathode remained unaltered, traders added. Ferrous metals (Per quintal in Rupees): Copper Heavy Rs 47,200, Copper Utensils Rs 44,400, Brass Utensils Rs 31,600, Brass Cuttings Rs 32,500 and Aluminium Utensils Rs...
United Co. Rusal (486) may have to replace Chairman Barry Cheung in August, five months after he took over the post at the world’s largest aluminum producer, according to four people with knowledge of the situation. Cheung, head of the Hong Kong Mercantile Exchange, may quit the Rusal job to devote more time to his roles in the Chinese city, two of the people said, asking not to be identified because the information isn’t public. Cheung is also chairman of the city’s Urban Renewal Authority and headed Leung Chun-ying’s successful campaign for election as Hong Kong chief executive. Shareholder Victor Vekselberg quit as board chairman in March during a dispute with billionaire Chief Executive Officer Oleg Deripaska to have Rusal sell its 25 percent of Russia’s biggest mining company, OAO...
Vedanta Resources said it has sold 3,000 tonnes of aluminium ingots at a premium of $220 a tonne over the London Metal Exchange (LME) price in the Asian market. India's state-run National Aluminium Company (Nalco) has also sold 8,000 tonnes of aluminium ingots at a premium of $202.80 per tonne premium over the LME price. Earlier this month, the company had sold 4,500 tonne of aluminium ingots at about $180 per tonne premium over the average LME cash price. Buyers tend to pay a premium in addition to the LME cash price to cover freight and insurance and to reflect regional supply and demand. Last Thursday (June 21), aluminum prices on the LME hit a two-year low. But for Indian firms, the time has been ripe to ink new deals. Novelis Inc, the world's leading producer of premium aluminum...
Hong Kong Exchanges & Clearing Ltd.’s pursuit of the London Metal Exchange is transforming the Asian bourse into the industry’s worst performer. Hong Kong Exchanges’ $2.2 billion bid for the LME this month valued the world’s largest trading venue for industrial metals at 181 times earnings, making it the most expensive bourse acquisition exceeding $1 billion on record, according to data compiled by Bloomberg. While the merger will give Hong Kong Exchanges control of about 80 per cent of global trade in industrial-metal futures as it grapples with falling profits and a slump in initial public offerings, the New York Stock Exchange’s head said the price would have been too rich for the biggest US bourse operator. An increase in trading by Chinese companies on the LME is vital to justify the...
