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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In 2013 Aluminium production worldwide rise to more than 46 million tonnes
In the production of primary aluminium IKB Deutsche Industriebank, Düsseldorf, Germany, expects global growth to more than 46 million tonnes for 2013. The IKB presents this assessment in its current report on price trends for commodities in October 2013. According to the IKB, primary aluminium...
Aluminum stocks at Japanese port of Fushiki Toyama swell to 41,000 mt
Stocks of primary aluminum at the Fushiki Toyama port in northeastern Japan swelled to a record high of 41,000 mt at the end of September, a 24.2% increase compared with 33,000 mt a month earlier, Japanese sources said Wednesday. Stocks increased as Japanese trading houses and end-users built up...
Trade activities for Japanese aluminum spot imports thin, focus on domestic trade
Trade activities for Japanese aluminum spot imports were thin Monday as Japanese market participants shifted their focus to domestic trade after having concluded their fourth-quarter contract premiums negotiations last week, sources said. In the absence of spot deals, bids or offers reported from...
China’s aluminum industry estimated to have $1.8B loss last year
The loss is $1.8B, with 35% of companies losing money, or 89 of 281 aluminum enterprises, Qin Junman, vice president of China Nonferrous Metal Industry’s Foreign Engineering & Construction Co., says in presentation for the Metal Bulletin aluminum conference in Geneva today: * Industry still...
LME rule may change the playing field for aluminium players
In October, the London Metal Exchange (LME) will decide on a proposal to shorten delays in delivery of aluminium from the exchange’s warehouses. Investors would do well to keep a watch, as it could affect the performance of aluminium companies. Aluminium buyers, such as beverage can makers in the...
Markets Speak: Three point strategy suggested for China aluminium smelters
The huge overcapacity overhang of Chinese Aluminium in the domestic markets has forced the government to suggest some concrete steps to the smelters. China Aluminium production has increased at a drastic pace leading to supply side glut and rising LME inventories to all time highs. Facing the...
Inventories, surplus output pile pressure on aluminium prices
Tepid demand from principal consumption points like automobile, packaging and construction, yet to recover from the mauling of the world recession, has left the aluminium industry in deepest crisis. Industry giants from the US to Europe to China are sufficiently bedraggled by aluminium prices...
China aluminium firms likely to snub govt call to shift output overseas
China plans to urge local aluminium producers to ramp up overseas investment rather than expand at home, signalling its growing desperation to ease a domestic supply glut. Market participants said the government was clutching at straws and that few firms in the world's largest aluminium consumer...
Oversupply affecting Alcoa and Rusal’s earnings
Over-production is literally bankrupting UC Rusal, Alcoa and other aluminum producers. The Russian producer Rusal recently reported a first half 2013 loss of $439 million, versus a breakeven position last year, nominally a $1 million profit. Revenue for the six months to June 30 fell 8.8%...
North American aluminum demand down through H1
US and Canadian aluminum demand, defined as shipments by domestic producers and imports, reached an estimated 12.157 billion lb in the first half of 2013, 0.3% less than that of the same period last year, according to preliminary estimates released Friday by the Aluminum Association. Demand for...
Uncertainty in global aluminium market due to oversupply: BNP Paribas
There is a large amount of uncertainty in the global aluminium market with limited upside for prices, BNP Paribas metals analyst Stephen Briggs said Thursday. Briggs said that the market is in a large structural surplus and that it is unlikely to move back into balance in the near-term. "The market...
Aluminum reaches three-week low on prospects for larger surplus
Aluminum reached a three-week low in London on prospects for a global surplus of the lightweight metal to expand. Copper slumped, narrowing the biggest monthly gain since September. Supply of aluminum will outpace demand by 994,000 metric tons this year, above the prior 883,000-ton estimate, said...
China's Chalco posts $102 mln first-half net loss
Aluminum Corp of China Ltd (Chalco) , the country's top aluminium producer, posted a first-half net loss of 623.8 million yuan ($101.9 million), hurt by lower prices and oversupply in the world's top producer and consumer of the metal. The result compared with a net loss of 3.25 billion yuan in the...
World unwrought aluminum stocks in July down 6,000 mt
Global unwrought aluminum inventories at the end of July were down 6,000 mt from June and down 190,000 mt from July 2012, according to figures released Tuesday by the International Aluminium Institute. Unwrought inventories totaled 1.173 million mt at the end of July, down from a revised 1.179...
Shandong Nanshan reports 19.4% fall in H1 profit
Shandong Nanshan Aluminium Co., a leading fabricator of the lightweight metal, reported a 19.4% decrease in the first half profit due to an enlarging discount of London prices to Shanghai. Shandong Nanshan’s net profit was 313.2 million yuan ($50.8 million) in the first six months or 0.16 yuan per...
Aluminum Shipments improve in North American metal service centers
North American metals service centers generally improved their shipment levels during July, following several consecutive months of declining volumes for shipments of steel and aluminum products. Data on shipments and inventories of steel and aluminum products at service centers in the U.S. and...
Russia's Rusal may delay aluminium project to help ease oversupply
Russia's Rusal , the world's largest aluminium producer by output, may delay the start of production at one of its biggest projects, seeking to ease a global glut of the metal. Rusal , led by Russian tycoon Oleg Deripaska, and other big aluminium makers are cutting output in response to record...
July US aluminum shipments up year on year
US service centers shipped 128,600 mt of aluminum products in July, up 5.7% from July 2012, the Metals Service Center Institute said Thursday. Aluminum shipments in the first seven months of the year totaled 867,600 million mt, 5.2% below the same period last year, MSCI said in a statement....
