LME aluminium price rises to $3,310/t: Can EGA and Alba repairs bring back 2025 levels?
The London Metal Exchange (LME) aluminium price reported improvements across the pricing and contract segments on the September 7 close, recovering from the downward trend reported at the September 4 session . As the repair and operations stabilise at the facilities of Emirates Global Aluminium...
LME aluminium offer price slips to $3,292.5/t as lower exchange stocks point to tighter availability
LME aluminium prices edged lower on September 4 compared with the previous trading day, while aluminium stocks also declined marginally. The most notable movement was in cancelled warrants, which fell by more than 38 per cent day on day. On September 4, the LME aluminium cash bid price stood at USD...
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LME Aluminium to underperform SHFE Aluminium this week
SHFE aluminium will gather more steam on positive market fundamentals in China, while LME aluminium will face short selling pressure, SMM expects. Capacity restarts and new capacity release are still limited in domestic aluminium market. Consumption is still in recovery. As such, aluminium stocks...
North America’s aluminum net shipments down in January
According to an Aluminum Association report, aluminum net shipments (including exports) by domestic U.S. and Canadian facilities totalled an estimated 1,853 million pounds during January 2016, down 3.4 per cent from the January 2015 total of 1,919 million pounds. Shipments of aluminum mill products...
Aluminium market under long liquidation, open interest drops 17.62%
Aluminium prices pared its gains to settle in negative zone due to oversupply and a massive inventory overhang. Aluminium price has risen over the past month, supported by a tightening of the ex-China balance, higher oil prices, and a weaker dollar. Chinese output and semi-fabricated export growth...
Gains in aluminium products boost ANZ commodity prices
New Zealand commodity prices rose 0.4 per cent last month riding gains in the price of aluminium products . The ANZ Commodity Price Index rose to 233.4 in February from 232.4 a month earlier and was down 18 per cent on an annual basis. In New Zealand dollar terms, the index was unchanged in...
Aluminium demand recorded 1% rise in the US, Canada in 2015
The preliminary statistics released by the Aluminium Association indicates marginal rise in aluminium demand in the US, Canada during 2015. The producer inventories in Dec ’15 were up slightly when matched with the previous month. Also, aluminium scrap purchases by the industry during Dec ’15...
Aluminium bet dents Hulamin’s annual profit
A bad bet on aluminium prices contributed to Hulamin’s profits more than halving during the year, ended December. Hulamin, an aluminium product manufacturer based in KwaZulu-Natal, South Africa, reported a net profit of R163.7m, down from R384.92 the previous year as the price of aluminium slumped...
China alumina prices firm as stock levels dip, metal prices rise
Chinese spot alumina prices firmed further Monday on the back of stronger domestic aluminum prices and reduced alumina reserves following refinery cutbacks in recent months. Platts ex-works Shanxi alumina spot price stood at Yuan 1,710/mt ($262/mt) full cash payment terms Monday, rising Yuan 15...
Chinese driven aluminium overhang to foil price bulls
A massive overhang of aluminium stocks, mostly due to rising Chinese production, is set to cap a tentative price recovery triggered by large output cuts. Last year plummeting prices and squeezed margins led to production cuts of around 5.5 million tonnes with the bulk, about 4 million tonnes, in...
Sumitomo says Japan's Q2 aluminium premiums to hit $120-$130
Japan's aluminium premiums will likely rise to $120-$130 per tonne over April-June from the current quarter's $110 per tonne as falling imports are trimming local inventories, Japanese trading house Sumitomo Corp said on Friday. Japan is Asia's top aluminium importer and the premiums it agrees to...
UC RUSAL announces Q4 and full year 2015 operating results
Leading, global aluminium producer UC RUSAL announced yesterday its fourth quarter and full year 2015 operating results. Aluminium production in Q4 2015 totalled 878 thousand tonnes, down 4.0 per cent Q-o-Q, remaining flat on the Y-o-Y basis. Q4 2015 aluminium sales totalled 876 thousand tonnes...
Japan aluminium imports down 14% - lowest since 2009
Japan's demand for imported aluminium plummeted to a six-year low in 2015 weighed upon by record-high stocks in the domestic market. The country imported 1.46 million tonnes of primary aluminum in 2015, down 14 per cent from corresponding period previous year, showed data from Japan's Ministry of...
Fresh buying seen in aluminium, open interest up by 3.75%
Aluminium settled up 0.34% at 104.20 recovered from the day's low despite China's manufacturing growth shrank at the fastest pace in more than three years in January, underlining slowing appetite from the world's top user of metals. Activity in China's manufacturing sector contracted at its fastest...
Aluminium demand stable in North America despite the volatile market
Preliminary estimates indicate that aluminum demand in the United States and Canada (shipments by domestic producers plus imports) totaled an estimated 23,798 million pounds through November 2015, up nine-tenths of one percent over the same period last year. Demand for semi-fabricated (mill)...
China aluminium stocks fall faster on output cuts and pre-holiday stocking
Aluminium stocks in China’s five major trading markets fell at a faster pace, SMM has learned. SMM attributes the decline to production cuts and downstream stocking before the 2016 Chinese New Year holiday in early February. Production cuts continued affecting aluminium ingot shipments from...
China aluminium destocking slows on softening consumption
Aluminium stocks in China fell at a slower pace as downstream consumption has softened. Aluminium stocks in China’s five major trading markets fell almost 40,000 tonnes each week on average in December, SMM data showed. However, average weekly decline was just about 5,000 tonnes in the first half...
Aluminium market under long liquidation, open interest drops 2.28%
Aluminium settled down -0.61% at 97.75 logging small losses while LME aluminium, which has been the best LME performer this year, finished down 0.8 percent at $1,450 a tonne, the lowest since Dec. 1 last year. Prices may see support today as profits ahead of key trade data from China, but the...
Six Chinese firms to form JV for commercial aluminium stockpiling - Antaike
Six large Chinese aluminium producers in China are considering forming a joint venture company that will handle primary aluminium stockpiling, a report by state-backed research firm Antaike said on Tuesday. The six companies -- four state-owned firms and two private enterprises -- include Aluminium...
Japan's aluminium imports seen falling as buyers trim Q1 purchases
Japan's aluminium imports are expected to shrink for a second year running in 2016, after buyers skipped or trimmed purchases for January-March shipments due to still-high levels of local inventory. The expected drop in imports could help trim domestic aluminium stocks by March by about 100,000...
