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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Aluminium prices to average $1880 per ton in 2014 on stockpiles
Aluminium prices could averatge $1880 per ton in 2015, rising to an average of $2075 per ton in 2015, according to Natixis in the Q1,2014 metals review. After years of chronic surplus, the global aluminium industry is going through a period of substantial change. In Russia and the west, producers...
World unwrought aluminum stocks down in February
According to report of International Aluminum Institute (IAI), the global unwrought aluminum inventory in February totaled 1.17 million tons, which is lower than the revised 1.19 million tons in January. The figures were 1.28 million tons in the same month of 2013. Besides, all kinds of aluminum...
LME Aluminum is seen trading at $1755
Aluminum: Monday’s review report is an excerpt from our weekly metals report. As of Friday close aluminum’s 3 month rolling forward contract ended the week at $1758, up by more than $20+ from its previous week’s close. At the MCX platform, the April futures contract ended the week at 104 from its...
Aluminium prices to remain low in near-term: ICRA
Prices of aluminium and other non-ferrous metals will remain low in near-term due to the muted demand on the back of uncertain macro-economic environment prevailing globally, ICRA said. "While prospects for the western economies have improved, concerns regarding slower growth of Chinese economy,...
LME aluminum prices are seen trading at $1748, selling recommended
On Tuesday, aluminum’s 3 month forward prices ended the day on a positive note, higher by 1.24% at $1752 while March futures prices at the MCX settled at Rs 103.35, up by mere Rs 0.40 due to the rupee’s appreciation. We could see the metal advancing higher supported by lower inventory numbers...
Semi demand in US and Canada down 1.5% in January
Demand for aluminum semi-fabricated (mill) products in the United States and Canada (measured in shipments by domestic producers plus imports) totaled an esti-mated 1,350 million pounds in January, declining 1.5 percent from the January 2013 total of 1,370 million pounds. Aluminum sheet and plate...
Credit crunch and low aluminium prices forcing China smelters to halt alumina imports
An oversupplied market with extra pressure from tighter credit and falling aluminium prices are forcing Chinese aluminium producers to stop taking any current shipments and cut sport import of alumina, sources said. A cut in the alumina shipments to top alumina buyer of the world will help...
Spot aluminium stockpiles in China crossed 1 million tons
Spot aluminium stockpiles crossed1 million tons in China as no signs of recovery were seen in consumption of downstream, a survey by the Shanghai Metals Market said. On a spot basis aluminium stockplies in the 4 major trading regions of China – Nanhai, Shanghai, Wuxi and Hangzhou – rose by 79,000...
Aluminum prices may again turn lower
Aluminum's 3-month forward prices at the LME recovered sharply yesterday by $50 and settled at $1770. We believe that there has been no major change in the fundamentals overnight, just a mere recovery that took place in the entire complex after concerns over Russian action against Ukraine settled...
Selling Recommended for aluminium
Aluminum was the worst performer in the Friday's trading session both globally and locally despite the US consumer confidence increased marginally and the pending home sales also showing marginal improvement even though the data was lower than the market expectations. However the stocks front...
Aluminum, steel demand at Risk if Honda, Ford cut back auto production
Steel – and, increasingly – aluminum demand could be hit this quarter if automakers cut back on production. Auto inventory levels have soared over recent months as frigid temperatures and winter storms in the past six weeks have slowed retail sales and showroom traffic, Reuters reported in a recent...
Suvery: Spot Aluminium Stockpiles Grow in China as Downstream Demand Has Yet to Recover
Spot aluminium stockpiles grew in China by a hefty amount of 82,000 tons last week due to a lack of downstream consumption, 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, Nanhai and...
World Primary Aluminium surplus in 2013 at 1.102 million tonnes as per WBMS
The World Bureau of Metal Statistics came out with the report on metals. The report showed that the calculated market surplus for primary aluminium for January to December 2013 was 1.102 million tonnes, which follows a surplus of 349000 tonnes recorded for the whole of 2012. Demand for primary...
Excess supply will keep pressure on price of aluminium: BHP Billiton
Aluminium producers will have a tough time in near future as there is a huge stock of unused metal in the warehouses keeping the price of aluminium low, the marketing chief of BHP Billiton said. The LME has approved the storage of above 5 million tonnes of aluminium in warehouses. The shutdown of...
Aluminium swings from surplus to deficit
After seven-eight years of acute oversupply, the world aluminium market is now undergoing a structural change from surplus to deficit. An extended period of overcapacity has been a feature of the world aluminium market for some time now. No doubt, producers in the western world have cut back output...
Base metals hit 2-mth low
Base metals hit two-month low in London due to slowing factory output growth in China coupled with deteriorating demand outlook following uncertainty in the recovery in global economy. Copper hit the low of $7,033.5 in early Monday trade on the London Metal Exchange. The metal lost around four per...
Japanese aluminium production declined in 2013
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 hits the lowest prices on LME
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,...
