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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RUSAL switches to loss in H1
United Company RUSAL Plc switched to loss-making in the first half as aluminium prices continued to fall on oversupplies, and urged the industry to take further curtailments to tackle overcapacity. The world's largest aluminium producer posted a recurring net loss of $156 million in the first six...
Two aluminium recyclers also accuse Goldman Sachs Group of hoarding aluminium
A steel-railings manufacturer and a scrap-metal dealer have joined to sue Goldman Sachs Group, adding to the Wall Street firm's legal headaches stemming from allegations it manipulated the aluminium market. Viva Railings and Regal Recycling accused Goldman and two subsidiaries of hoarding aluminium...
Russia should consider state aluminium stocks - deputy PM
Russia's government should consider creating state aluminium stocks which could help the country's metals giant Rusal by supporting global prices, deputy prime minister Arkady Dvorkovich said on Friday. Rusal, the world's largest aluminium producer, earlier this week urged the government to create...
Aluminium stocks at Japan’s major ports fall 6.3% in July
Aluminium ingot inventories at three major Japanese ports fell about 6.3% month-on-month in July, trading house Marubeni Corp’s data showed on Monday August 12. The total inventories at Osaka, Yokohama and Nagoya stood at 234,000 tons in July down from 249,600 tons in June. Inventories were down...
Goldman to offer Metro customers immediate access to aluminium
Goldman Sachs Group said on Wednesday that it would offer customers of its Metro International metals warehouse business immediate access to aluminium held up in queues through an exchange deal with the bank. "In light of the concerns that end-users have raised about their access to aluminium they...
Goldman Sachs denies aluminium price-rigging
Brewer Miller Coors last week told the US Senate that inflated aluminium prices were costing consumers $3bn a year, putting the focus on the stockpiles held by the Wall Street investment bank and the world’s largest commodity trading firm. Together, the two firms are estimated to control two-thirds...
SMM Morning Review: LME aluminum should move within USD 1,810-1,850/mt on 22nd July
The US dollar index fell following Fed Chairman Bernanke’s announcement that any decision to scale back bond-buying program will depend on how labor market and economy perform, buoying commodity prices. LME aluminum held stable at USD 1,800/mt during the early European session, and later broke...
LME scheme not enough to end warehouse logjam
The London Metal Exchange's (LME) proposals to tackle the long queues that end-users face to obtain aluminium from warehouses is unlikely to resolve the problem, the chairman of the Japan Aluminium Association said on Wednesday. On a separate issue, Shigenori Yamauchi also said Japan does not need...
June US aluminum shipments, inventories down year on year
US service centers shipped 121,900 mt of aluminum products in June, down 5.4% from June 2012, the Metals Service Center Institute said Wednesday. Aluminum shipments in the first six months of the year totaled 739,000 million mt, 6.8% below the same period last year, MSCI said in a statement....
SMM Morning Review: LME aluminum should move within USD 1,820-1,840/mt on 15th July
The US dollar index rebounded last Friday following two days of declines, keeping LME aluminum in check. Investors pulled out of the market ahead of the release of China’s 2Q GDP, causing trading volumes to fall to around 10,000 lots. LME aluminum broke through the 30-day moving average to USD...
SMM Morning Review: LME aluminum should move within USD 1,815-1,845/mt on 12th July
Chinese Premier Li Keqiang recently emphasized the importance of pro-growth policy and economic restructuring, triggering anticipating that the central government will introduce economic stimulus soon. Fed Chairman Bernanke said the Fed will not taper off monetary stimulus for the foreseeable...
Aluminum industry seeks solutions to overcapacity quandary
As with many industrial market trends today, the overcapacity problem stems from China’s rapid economic expansion. According to London-based research firm CRU, China now has an installed aluminum production capacity of 28 million tons and is producing at a rate of 24 million tons per year. The...
SMM Morning Review: LME aluminum should move within USD 1,770-1,800/mt on 9th July
Eurozone finance minister agreed overnight to release bailout funds to Greece, pushing the euro up. Sustainable recovery in the US economy drove US stocks up. The US dollar index inched down as a result, boosting commodity prices. However, longs are cautious ahead of upcoming Chinese economic...
Spot aluminium stockpiles fall for the 13th consecutive week in China
Spot aluminium stockpiles fell for the 13th consecutive week in China as some producers delivered their output to State Reserve Bureau (SRB), according to a survey by Shanghai Metals Market (SMM). Stockpiles of the lightweight metal on a spot basis in China’s four major trading regions – Shanghai,...
Support for aluminum July contract is seen at INR 106: Kotak
MCX Aluminium July contract traded at INR 109.20, up 1.35% on Wednesday. It opened at INR 108.20 and touched a high of INR 109.40. LME aluminum traded marginally lower tracking record high stocks at LME warehouses coupled with supply glut. Stocks at LME fell by 5,500 tons yesterday after hitting a...
North American aluminum demand 2% up during Jan-Apr: Aluminum Association
US and Canadian aluminum demand, defined as shipments by domestic producers and imports, reached an estimated 8.175 billion pounds in the first four months of 2013, 2% above that of the same period last year, according to preliminary estimates released Tuesday by the Aluminum Association. Demand...
SMM Morning Review: LME aluminum should move within USD 1,760-1,800/mt on 1st July
Worries over liquidity crunch in China eased last Friday, which was the last trading day of the first half of the year. US economic data released last Friday night was mixed. Chicago reported that its PMI for June fell to 51.6, the biggest monthly decline in more than four years. On the other hand,...
Quintiq software enhances Constellium’s inter-plant supply chain planning
Constellium has enjoyed great success using Quintiq’s platform to optimize its melt/cast and hot rolling operations for over a decade, and now intend to use it to improve key performance indicators in delivery performance and inventory reduction between plants in Valais and Issoire. The extended...
