Major aluminium producers have offered Japanese buyers premiums of USD 310-325 per tonne for primary aluminium shipments in the October-December quarter. The bar is 18-22 per cent lower than the USD 395 per tonne premium agreed for the current July-September quarter. The premium paid by Japanese...
Canada will raise tariffs on US steel and aluminium to 50 per cent from September 8 as part of a CAD 27.6 billion (USD 19.88 billion) retaliatory package, while Ottawa introduces CAD 7.5 billion (USD 5.4 billion) in support for workers and businesses affected by the trade dispute. Canada will...
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Premiums paid in Europe for releasing aluminium from storage have remained steady at record levels this month. Traders said they may be contained by new rules of London Metal Exchange (LME aimed at cutting wait-times aluminium. Premiums competed to record highs early in the month of February, above...
Aluminum prices which tumbled to 4.5 years low managed to stage smart recovery on London Metal Exchange. Earlier, disappointing economic data from the US and China had dragged the aluminum prices to $1,671.25 per ton. The elevated supply levels of aluminum also had added momentum to the drastic...
CME Group Inc., the largest futures exchange in the world, is ready to start up an aluminum futures contract and is even planning to introduce other metals products. CME said it has planned last year to start something alternative to aluminum contract traded on the LME for improving transparency....
While the premiums paid for physical delivery of aluminium against the LME benchmark is going up and industrial users are trying to protect themselves against further rise in premium, CME Group Inc’s nascent aluminium premium contract is picking up in the market during the beginning of the year....
Japan’s aluminium output and demand saw moderate declines in 2013 amid high inventory levels. Output of value-added aluminium products in 2013 dropped 1.3% year-on-year to 1.95 million tonnes. Production of flats retreated 1.9% to a three-year low of 1.14 million tonnes, according to the Japan...
Aluminium touched its weakest levels in more than four years on Wednesday on persistent worries of overproduction while copper dropped for a sixth session ahead of the week-long Lunar New Year holiday in Asia. Three-month aluminium on the London Metal Exchange touched a low of $1,735.25 a tonne,...
The world’s largest buyer of aluminium, Novelis, has hit out at rising prices for the metal, saying that record premiums payable are “indefensible” and give “the appearance of an engineered squeeze” in the North American market. US Midwest premiums – the amount payable on top of the official...
Aluminum ended the yesterday's trading session marginally lower by 0.06% at the LME platform as the commodity continues to take positive cues from the short term supply tightness. Aluminum stocks declined by 39,875 MT and the cancelled warrants for the commodity increased from 2345275 MT to 2502800...
JPMorgan upgraded Century Aluminum from Underweight to Overweight with a price target of $13.00 (from $6.00). "We are increasing estimates, raising our price target to $13, and upgrading CENX to Overweight from Underweight to reflect the impact of tightening aluminum markets and rising Midwest...
The constant rise in U.S. aluminum premiums to a record level is fuelling the worry over falling supply and rising costs of a major raw material for beverage can makers as well as the automakers, despite the oversupply of stocks in the market. Premium for aluminum paid in U.S., on top of the LME...
Aluminium traders and the London Metal Exchange are in advanced discussions over a new contract that will allow consumers to protect themselves against the cost of the surging premiums for the metal. Demand for a hedging tool has mounted in recent weeks as the gap between the physical aluminium...
The London Metal Exchange is considering launching a U.S. aluminum premium contract, a senior executive said, potentially expanding its most-traded product after years of criticism over high physical prices. The contract, plans for which are still in the early stages, would reflect the cash premium...
”Aluminum premiums, or costs to get metal out of storage, have soared to all-time highs in the United States with Europe and Asia close behind as smelters shut and spare metal is snatched up by traders for collateral in financing deals,” reports Reuters. “The rise in premiums highlights the London...
The rise in premiums highlights the London Metal Exchange's (LME) limited ability to cool a market where low interest rates continue to whet appetites for locking up aluminium as a form of investment. January 08, 2014 12:19 MUMBAI: Aluminium settled down -0.32% at 109.30 despite that Aluminium...
Aluminium premiums, or costs to get metal out of storage, have soared to all-time highs in the United States with Europe and Asia close behind as smelters shut and spare metal is snatched up by traders for collateral in financing deals. The rise in premiums highlights the London Metal Exchange's...
The premiums buyers pay for aluminum are poised to reach records after extending highs in the U.S., according to a report from Harbor Intelligence, an Austin, Texas-based researcher. The surcharges are set to reach all-time highs in the next few weeks in Europe, Asia, Mexico and Brazil, according...
Japanese aluminium shipments rose for a fifth month in November, as strong domestic demand offset continued weakness in exports. Shipments jumped 4.9% year-on-year to 168,387 tonnes in November, according to the Japan Aluminium Association (JAA), though volumes were down 5.6% from the previous...
Aluminium settled up at 111.35 rallied as signs of a strengthening US economic recovery prompted traders to buy industrial metals. Manufacturing in the U.S. continued to expand this month, a separate survey showed before data on Jan. 2. The nation ranked second globally after China among consumers...
