LME aluminium price eases 0.3% on September 10; stocks remain stable at 244,525/t
The London Metal Exchange (LME) aluminium price graph contracted on September 10 across cash and contracts, with longer-dated contracts reporting nearly 1 per cent decline. The aluminium opening stocks, however, remained stable. The LME aluminium cash bid price shifted from USD 3,351.5 per tonne on...
LME aluminium price chart rises further to $3,325/t; stocks remain stable
The London Metal Exchange (LME) aluminium price chart continues to record an upward trend across the pricing and contract segments on the September 8 trading session, reporting gains over the September 7 close . Opening stocks remained stable, not reporting any further decline. The LME aluminium...
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Average Operating Rate 61% to drop to at Chinese Aluminum FRP Producers in June
The average operating rate at alumninium producers in China is expected to fall to 61% in the month of June, according to Shanghai Metals Market. SMM says, the main reasons behind this drop are start of off-season as well as liquidity crunch. The tightening liquidity in mid-year and poor orders are...
Metals traders scramble to secure stocks amid China port probe
Metals traders are rushing to secure copper and aluminium stocks following a financing probe in the northeast Chinese port of Qingdao, with at least one company asking courts to freeze inventory while traders move metal to other ports to prevent possible seizure. CITIC Resources, an arm of Chinese...
Prices of Aluminium seen trading at $1787, rise by 0.87
After prices of aluminium falling over 5+% in May, it witnessed a slight positive change towards 15th May, 2014. Since Friday last, prices of aluminium are seen trading at $1787, a rise by 0.87% from the last week’s close while the highest for the week was $1810. It was anticipated that prices...
LME Aluminium may witness below $1800, buying recommended
We had the local trading only for half session yesterday however; the metal in the domestic exchange traded higher and settled the day at Rs. 105.65 up by 1.40% taking cues from LME which ended higher by 1.57%. One of the major reasons for the metal to rise in the global market is declining...
Spot aluminium stockpiles continue to fall in China; export orders up
Spot aluminium stockpiles continued to fall in China as a lower Shanghai-London price ratio increased export orders for the metal products, according to a survey by Shanghai Metals Market. Stockpiles of the lightweight metal on a spot basis in China’s four major trading regions – Shanghai, Wuxi,...
Glencore, Goldman warehouses have longest aluminium queues-LME report
Wait times to get metal out of warehouse firms owned by trade house Glencore and bank Goldman Sachs stretch up to two years, according the London Metal Exchange's (LME) first report detailing backlogs at its global network of depots. Lengthy logjams at warehouses monitored by the LME, the world's...
Aluminium may show slight gain in the prices short covering
3 month forward LME Aluminum prices ended the day at $1766.50 mostly unchanged from its previous close. We saw slight intraday volatility in the prices while by end of the day market remained steady. We had no news from the fundamental front, Aluminum stocks at LME declined in a single day by 9700...
Aluminum may witness trading steady near $1775
We saw a good amount of nearly 0.75% decline in the Aluminum prices on Wednesday to settle the three month contract at $1769/MT. Likewise, at the domestic market, May future ended lower at INR 104.40/kg. Also, daily inventory declined at LME but the reaction on the prices were negligible. We saw a...
LME Aluminium may witness losses trading at $1837 up by 0.14%
We had a bearish view on Aluminum last day with the anticipation that the commodity may take price correction in the form of profit booking on the long positions. Also, a rebound in the inventory supported the metal to retreat from the highs. 3 month forward LME Aluminum ended the day at $1826.75...
Aluminum falls to lowest in a period of two weeks with high inventories
Prices of aluminium dropped to the lowest in London for two weeks or more as the inventories expanded. Inventories of the unwrought aluminium rose to 1.215 mn mt in the month of March from an amount of 1.71 mn tons that were revised a month earlier. This was said in a recent report published in...
China alumina imports fall in March; further declines expected in April
Inbound shipments of alumina to China fell 18.91% to 376,900 tonnes in March due to production cuts at aluminum producers and falling prices, Shanghai Metals Market understands. In China, more than 1.32 million tonnes of aluminum capacity has been put offline by the week ending April 18, leaving...
Spot Aluminium Stockpiles declines for the first time in China over a year
The stockpiles of spot aluminium in China was down for the 1st time within a year after the production was cut down in a number of smelters to reduce losses, a survey made by Shanghai Metals Market said that. On a spot basis, stockpiles of aluminium were down in four major trading regions in China...
Service centers’ steel, aluminum deliveries rebound for March
Service centers across North America increased delivery volumes during March, and in most instances managed to reduce their inventory levels, too. The Metals Service Center Institute, which reports the shipment and inventory results in its Monthly Activity Report, stated that “shipment growth...
Aluminium outlook positive for 2014, China deciding factor
Aluminium outlook for 2014 appears positive with consumption to grow by 6% as in 2013 but new capacity creation despite shut down of inefficient plants could have a bearing on market. China, the largest consumer and produce of the metal would be a deciding factor for the commodity, according to...
LME aluminum prices are seen trading at $1843, down by $8
We had a bullish outlook on Aluminum yesterday but, it declined sharply during the early US session when the dollar index surged. The commodity finally ended on a lower note at Rs 110.20, down by 1.50% while it settled lower at $1852 at the LME. We also believe it was a broad based sell off that...
Average operating rate expected to be stable at Chinese Aluminum Fabricators
According to a survey made by a Shanghai Metals Market, it is expected that the production rate at the aluminum fabricators in China will have a lit bit of change in the month of April. It is expected that the average operating rate at the Chinese extrusion producers will be 64% in the month of...
Aluminum heads for the biggest weekly gain since 2012
Aluminum has headed for its biggest weekly advance since 2012 November in London as there were orders to withdraw aluminum from the warehouses and producers have also cut down their output. According to LME data, canceled warrants (as they call the orders) jumped to its highest level this week...
Aluminium jumps after halt to LME plan
Aluminium has jumped 6 per cent in the week since the London Metal Exchange was forced to halt a plan to cut queues at its global warehouse network. Prices for three-month delivery at the LME rose to $1,838 a tonne on Thursday, a five-month high. The increase will bring some relief to aluminium...
