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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Capacity expansions to slow China aluminum inventory declines
China’s aluminum stocks have been falling for three months running, but the pace will slow down due to robust growth in new capacity, Shanghai Metals Market notes. On the supply side, the scale of aluminum production cuts will be small this year due to falling production costs. Some 2-3 million...
Fresh selling seen in aluminium, open interest up 1.96%
Aluminium settled down -0.2% at 100.35 even after Century Aluminium curtailed capacity at one of its four smelters. Prices also seen under pressure as the market focused on a growing supply glut due to surging exports from top producer China and high stocks. China's exports of primary aluminium...
LME Aluminium hits six years low on supply concern
Global glut caused benchmark aluminium to crash on London Metal Exchange hitting a six years low at $1,576 a tonne. The metal widely used across packaging and transport sectors recouped some losses closing at $1,592.50, down 0.2 per cent. Primary aluminium exports from China surged 66 per cent in...
Aluminum Association updates on aluminum net shipments in North America
According to the Aluminum Association reports Aluminum net shipments (including exports) by domestic U.S. and Canadian facilities totaled an estimated 1,941 million pounds during June, up slightly (0.4 percent) over the June 2014 total of 1,933 million pounds. Shipments of aluminum mill products...
Global slump in bauxite demand leads to stockpile rise to 70,000 tonnes
In the face of declining demand for bauxite, worldwide, a total quantity of 70,000 tonnes of the ore valued at about $1.4 million is reported to have been stockpiled at the Aurum Exploration (Fiji) Ltd in Nawailevu, Bua. Mr Derek Qiu, executive Aurum Exploration said about half of the mining...
LME reaches settlement on U.S. aluminium class-action cases
Hong Kong Exchanges & Clearing Ltd (HKEx) No money was paid by either side in arriving at the settlement, the HKEx-owned LME said in a statement. Under the settlement announced by HKEx on Sunday, the plaintiffs agreed to drop the LME from appeals against a U.S. court’s decision last August...
Japanese aluminum inventories fall as banks buy it up
The stock and finance trade is investing in Japanese aluminum again and republicans in the US House unveiled an $8.1 billion infrastructure bill. Big Banks Investing in Aluminum Again Aluminum stocks at major Japanese ports fell for the first month in more than a year in June as western banks...
Japan aluminium stocks fall for the first time in 15 months
Aluminium stocks at Japanese ports fell for the first month in more than a year in June as western banks started snapping up metal in Asia after spot premiums fell to two-year lows. Aluminium stocks held at three major Japanese ports fell 0.5 percent to 499,900 tonnes at the end of June from a...
Alcoa ups aluminium output estimate, bearish for prices
Alcoa Inc.’s revised outlook for aluminium in 2015 comes close on the heels of a sharp fall in metal prices. Aluminium on the London Metal Exchange (LME) has fallen 15.3% since a year ago and by 6% since 1 June. Alcoa’s results for the June quarter reflect the impact of falling prices, although the...
Aluminum Association updates on North American aluminum shipment
Shipments of Aluminum Extruded Products (extruded shapes, pipe & tube, and rod & bar) by U.S. and Canadian producers totaled an estimated 444.9 million pounds during May 2015, an increase of 5.7 percent over the May 2014 revised total of 420.9 million pounds. Compared to the previous month,...
North American aluminium production down 0.6% in May
The Aluminum Association, in cooperation with the Aluminum Association of Canada, reported primary aluminum production in North America (U.S. and Canada) was at an annual rate of 4,489,865 tonnes during May 2015, down 26,621 tpy (-0.6%) from the previous month's rate of 4,516,486 tonnes. The annual...
Supply glut puts pressure on aluminium
Aluminium prices show few signs of recovering as the world remains in a glut of the lightweight metal used in cars and cans. The price of the metal has fallen 11 per cent in the past 24 days to $1,758 a tonne on the London Metal Exchange. That is below the metal's average price of more than $2,000...
Aluminum gains second time in three days on China demand outlook
Aluminum gained for the second time in three sessions on speculation that demand will climb in China, the world’s top metals consumer. A Chinese factory gauge rose last month, signaling that the government’s monetary easing has helped to cushion the economy. Goldman Sachs Group Inc. said Monday...
Growing aluminium supply hurts prices
Aluminium hit its weakest in a year yesterday on rising supplies amid fears that the market is headed for the worst period in three years. Aluminium is in oversupply with a huge stock overhang, and output has continued to rise this year, with the latest industry figures showing daily average...
Rio Tinto Alcan sees possible deficit in 2015 in aluminium market
May 12 Rio Tinto Alcan, the mining giant's aluminium business, expects a global deficit in the aluminum market in 2015 despite good figures in the first quarter, the company's chief executive said on Tuesday. Speaking at the CRU Aluminium industry conference in Dubai CEO Alf Barios said he expected...
Xingan Chemical Alumina Plant closure unlikely to raise local prices
Xingan Chemical Alumina Plant shut down 1.8 million-tpy alumina capacity on April 25 due to an accident, Shanghai Metals Market has learned. It will take about 2 months for production to return to normal. Some traders raised offers by 40 yuan/tonne to 2,540 yuan ($415) per tonne immediately after...
U.S. aluminum premiums tumble to lowest in year as arb draws imports
U.S. aluminum premiums have plunged by as much as 20 percent in the past week, reaching their lowest in more than a year as imports flood into the last remaining bright spot in a worsening global market. Premiums paid for physical delivery on top of the London Metal Exchange benchmark have sunk to...
LME moves to cut warehouse queues faster
New measures to increase the amount of metal withdrawn from warehouses, relative to material brought in, will help to reduce queues faster at London Metal Exchange (LME) registered warehouses, the exchange said on Monday. The LME, the world's oldest and biggest market for industrial metals which is...
