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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Gulf Extrusions organizes Supply Chain Excellence Program for its senior management
Gulf Extrusions (Gulfex), a leading global manufacturer of extruded aluminium products, in partnership with the American University of Sharjah , has recently organized a workshop on Supply Chain Management (SCM) for its senior management team at (Waldorf Astoria-The Palm). The objective of the...
Escalating China aluminum glut to weigh heavily on prices in Q1 2015
Oversupply in China’s aluminum market is expected to escalate in Q1 2015 on massive new capacities and falling demand, CNMN reported on January 2. Most new capacities came on stream in H2 2014. Nearly 3 million-tpy aluminum capacities in Xinjiang and at Shandong Weiqiao Group began to enter...
Aluminium market under long liquidation, open interest drops 7.15%
Aluminium settled down -1.2% at 119.25 after US economic data were mixed overnight. Initial jobless claims and the Conference Board Leading Economic Index were positive. But Markit’s service PMI and Philadelphia Fed’s manufacturing index missed forecasts. A firm dollar and falling crude oil prices...
Base metal prices rise on global cues
Base metal prices rose by INR2 per kg at the local non-ferrous market today on increased buying by stockists, tracking a firm global trend. Traders said sentiment bolstered after aluminium rose in global markets on speculation that China will further stimulate the economy and as inventories fell to...
Aluminum rebounds as inventories near four-year low
Aluminum rose on speculation that China will further stimulate the economy of the world’s biggest metals consumer and as inventories fell to near a four-year low. Aluminum gained as much as 0.6 percent after closing at the lowest in eight weeks on Dec. 12. A private manufacturing Purchasing...
Japan Aluminium stocks hit record high on increased imports
Aluminium stocks held at three major Japanese ports rose for an eighth straight month to hit a record high at the end of November on rising imports and softer demand at home. Aluminium stocks held at Yokohama, Nagoya and Osaka rose 14 percent in November from a month earlier to 378,000 tonnes, the...
Growing stockpiles and falling port prices curbs alumina imports in China
According to customs data, China’s alumina imports have seen a sharp decline from last year falling 40.94% to 271,900 tons in October. The prime reason for this fall is the lack of supply from Brazil and Suriname which has also brought down the month on month imports by 21.05%, says the Shanghai...
Japan aluminium stocks rise by 6% month-on-month
Trading house Marubeni Corp said on Tuesday, aluminium stocks held at three major Japanese ports were 332,200 tonnes at the end of October, up 6 percent from 313,400 tonnes a month earlier, Marubeni collects data from the ports of Yokohama, Nagoya and Osaka. The stock level at Yokohoma was 149,900...
U.S. aluminum premiums soar as fabricators scramble for metal
U.S. aluminum surcharges have jumped to record levels this month as fabricators scramble for metal amid cutbacks at domestic smelters and storage backlogs that traders say have tightened supplies. Premiums that fabricators and merchants pay on top of benchmark London Metal Exchange prices for...
Downward pressure looming in Chinese aluminum market
Aluminum market proves strong amid the bearish commodity market, with LME aluminum hitting $2,078 per tonne in early week. The rising momentum in LME aluminum market mainly comes from supply tightness, continuous declines in inventories, and rising backwardation, one local media reported today. The...
Aluminum Association updates on North American primary aluminium market
Shipments of primary aluminum by North American (U.S. and Canada) producers totaled 1,115 thousand metric tonnes (kmt) in the third quarter of 2014, down 6.7 percent from the third quarter 2013 total of 1,195 kmt. Shipments of primary billet were off six-tenths of one percent year-over-year, while...
Rusal to keep aluminium output flat
Russian aluminium giant Rusal plans to keep output largely flat for three years because healthy stock levels will ensure the market is supplied despite market deficits, a top executive said on Wednesday. Robust aluminium prices have prompted some Chinese smelters to abandon production cutbacks and...
Aluminium prices may face newer challenges
The Director of metals research and strategy at Citigroup Inc. David Wilson stated recently that the unwinding of financial deals is likely to curb the upward climb for aluminium prices in the coming year. According to Citigroup estimates, nearly 20% of the world’s aluminium supply amounting to...
Japan end-Sept aluminium stocks up 6.3 pct on month
Aluminium stocks held at three major Japanese ports were 313,400 tonnes at the end of September, up 6.3 percent from 294,800 tonnes a month earlier, trading house Marubeni Corp said on Friday. Marubeni collects data from the ports of Yokohama, Nagoya and Osaka. Here are stock levels at the ports...
Aluminium stocks continue to fall
The daily inventory data released by the London Metal Exchange (LME) today showed a decline in the inventory levels of Aluminium, Lead and Zinc. The data also showed a rise in the inventory levels of Copper and Nickel. Aluminium inventory continued its down trend, falling by 8575 tonnes today....
Aluminum Association updates on North American aluminium market
Aluminum net shipments (including exports) by domestic U.S. and Canadian facilities totaled an estimated 2,062 million pounds during August, up 3.9 percent over the August 2013 total of 1,985 million pounds. Shipments of aluminum mill products increased 3.1 percent over the previous year to 1,301...
Aluminum climbed for the first time in six days
Aluminum climbed for the first time in six days as stockpiles declined to the lowest in 33 months and United Co. Rusal Plc, the biggest producer, forecast that demand will exceed supply next year. The metal in London rose as much as 0.3 percent. Global supply may lag behind demand by as much as 1.3...
Aluminium and other base metals trend higher in China - ASIA METALS
The news of People’s Bank of China (PBoC) providing CNY 100 billion of lending facility each to China’s five largest banks to boost liquidity has created ripples in the Asian trading sector. The prices of base metals continue to trend higher on Wednesday’s Asian trade after the news had broken out...
