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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SMM Morning Review: LME aluminum to fluctuate between USD 1,850-1,895/mt on 22nd April
Economic data from China and the US were discouraging. Worries over the European debt crisis remain. The UK’s AAA credit rating was downgraded by Moody’s in February, and revised down again last Friday by Fitch. The US dollar index broke through resistance at all the moving averages during the...
SMM Morning Review: LME aluminum should struggle between USD 1,890-1,920/mt on 19th April
Gold prices stabilized following earlier sharp declines, keeping the US dollar index in check. Short-covering helped push LME aluminum above USD 1,900/mt. However, a slight rise in the US weekly initial jobless claims, slowing Philadelphia Fed manufacturing in April and unexpected fall in...
SMM Morning Review: LME aluminum should fluctuate between USD 1,850-1,890/mt on 18th April
The IMF lowered last night its forecast for global economy for this year and the next. The US March economic indicators were disappointing and demand in China is slack. The ECB may consider cutting interest rate should the European economy shrink again. The euro fell overnight, pushing the US...
Fall in aluminum price expected if production is not cut says top executive of UC Rusal
A top executive of the world's No1 aluminum producer, United Co Rusal, warned yesterday that the price of the metal may fall further unless production is cut as current stocks could last for another three years. The global inventory stands at five to six million tonnes, Rusal deputy chief executive...
SMM Morning Review: LME aluminum should fluctuate between USD 1,890-1,930/mt on 17th April
According to the US Commerce Department, the country’s building permits were at a seasonally adjusted annual rate of 902,000 in March, falling short of forecasts. However, this was offset by upbeat housing starts in March, which surged to the highest level since June 2008 at 1.04 million units....
SMM Morning Review: LME aluminum should struggle between USD 1,825 -1,875/mt on 16th April
China’s slowing Q1 GDP growth dampened market sentiment. This is compounded by a sharp decline of April New York Fed manufacturing index to 3.05 and a third straight monthly drop of April NABH Housing Market Index to 42. Shorts dominated the market due to worries over demand, sending LME aluminum...
SMM Morning Review: LME aluminum should fluctuate between USD 1,880-1,920/mt on 12th April
The US Labor Department announced overnight that US initial jobless claims dropped more than expected to 346,000 in the week ended April 6, boosting confidence over recovery in the country’s jobs market. A weaker US dollar also offered support to the low-end price of commodities. Nevertheless, LME...
Rusal estimates aluminium output to cut by 3%
Rusal official says more aluminum-production cuts are needed to cut record-high inventories. Rusal estimates 1.5 million metric tons of supply should be cut. A 3% reduction in global output could bring LME stocks to pre-2008 levels in two or three years, according to Rusal official. About 1.5...
China’s alumina imports down 54.5% YoY in March
According to China Customs, China imported 200,000 mt of alumina during March, down 54.5% YoY. YTD imports through March amounted to 1.04 million mt, also down 10.3% YoY. This is the first time China’s alumina imports slid to near 200,000 mt since December 2012, a steep decline from January’s...
SMM Morning Review: LME aluminum should struggle between USD 1,880-1,920/mt on 11th April
China reported trade deficit in March, but metal imports actually fell sharply. The minutes of the US Federal Reserve (Fed)’s March meeting indicate that FOMC members debated over whether the Fed should slash the scale of asset purchases and bring quantitative easing to an end before the end of...
SMM Morning Review: LME aluminum should fluctuate between USD 1,900-1,930/mt.on 10th April
China announced yesterday its March CPI climbed 2.1% YoY, better than expected, but its PPI declined 1.9% YoY, pointing to negative growth for a 13th straight month and constraining upside space of commodity prices. The US dollar index was mired during the European trading session, helping LME...
Alcoa plagued by aluminum glut
Alcoa Inc. is witnessing a seventh consecutive quarter of falling or flat raw aluminum prices on the London Metal Exchange, despite its own moves to curtail production. The depressed raw aluminum price is expected to fall one cent to eight cents a share. Speculators are busy shorting aluminum, part...
DUBAL implements integrated Inbound Logistics solution to optimize inventory
A passion for professionalism, excellence in all aspects of the business and continuous improvement has inspired yet another innovative application of information technology at Dubai Aluminium, the entirely state-owned corporation that operates the world's largest single-site primary aluminium...
SMM Morning Review: LME aluminum should move within USD 1,850-1,895/mt on 8th April
The US March nonfarm private sector employment shown in the ADP National Employment Report missed forecasts. Besides, weekly initial jobless claims rose significantly. Discouraging as they may be, these employment figures mean the US Federal Reserve will continue its QE3. LME aluminum sank to USD...
SMM Morning Review: LME aluminum should move within USD 1,860-1,900/mt on 3rd April
The manufacturing PMI in the euro zone fell in March from the previous month, and pointed to contraction for 20 months in a row. Coupled with shrinking manufacturing in Germany and France, worries over the European debt crisis pushed the US dollar index up to challenge resistance at 83. As a...
SMM Morning Review: SHFE 1306 aluminum contract has a low opening at RMB 14,600/mt on 29 March
The United States Labor Department announced overnight that initial jobless claims in the week ending March 23 rose to 357,000, falling short of market expectations. The Chicago PMI index was 52.4 in March, down 4.4 points from February. Coupled with worries over the European debt crisis, all base...
SMM Morning Review: LME aluminum should fluctuate in the band of USD 1,900-1,940/mt on 28th March
Worries over the European debt crisis drove the US dollar index above 83 and sent LME aluminum down to USD 1,900/mt. Later, LME aluminum recovered losses due to dip-buying and as US pending home sales rose 8.4% YoY in February. Finally, LME aluminum closed up 0.42% at USD 1,922/mt. Latest LME...
ALCHA’s profits plunged in 2012
According to Jiangsu ALCHA Aluminum's 2012 annual report, the company reported 93,800 mt in sales volumes last year, up 2,700 mt from the previous year. However, its operating revenues fell 6.78% YoY to RMB 1.91 billion, with profits attributable to shareholders of its listed company down to – RMB...
