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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Japan's aluminum port stocks jump to 44-month high at end Dec
Stocks of primary aluminum stored at Japan's three main port warehouses surged to a 44-month high of 284,000-291,600 mt at the end of December, according to data from local trading houses. The inventory level was up from 272,800-279,800 mt at the end of November, and also the highest since the end...
LME aluminum should fluctuate between USD 2,040-2,060/mt on 16th Jan: SMM Morning Review
LME aluminum prices plunged to USD 2,033/mt during early European session, the lowest in one and a half months. The US economic data released later was mixed. Retail sales in the US rose 0.5% MoM in December and beat forecasts, helping LME aluminum recover earlier losses. However, the New York Fed...
LME aluminum should move between USD 2,050-2,090/mt on 15th Jan: SMM Morning Review
China will probable expand investment in Chinese market by foreign companies, helping the Shanghai Composite Index jump to 2,300 points yesterday. As a result, LME aluminum prices hit a high of USD 2,116/mt during the European session. Nevertheless, market is still worried about the deadlocked debt...
LME aluminum should move between USD 2,095-2,145/mt on 11th Jan: SMM Morning Review
China’s trade surplus surged to USD 31.62 billion in December, well above forecasts. China’s soaring exports greatly boosted market confidence. The Bank of England and European Central Bank decided overnight to keep interest rate unchanged as expected. The US dollar index lost support at 80 as a...
LME aluminum should move between USD 2,040-2,080/mt on Wednesday: SMM Morning Review
Most investors are awaiting China’s economic data due Friday. LME aluminum recovered some losses after falling below USD 2,050/mt thanks to dip-buying by longs. Total positions were up 5,774 lots to 688,450 lots. Resistance, however, remained at the 10-day moving average as longs were wary of...
LME aluminum should fluctuate between USD 2,040-2,080/mt on Tuesday: SMM Morning Review
Market is worried that QE3 may end ahead of schedule, causing LME aluminum to slid to USD 2,034.3/mt in early European session, its lowest since November 29, 2012. As market aversion faded later, the US dollar index plummeted, attracting longs to buy metals at lows. As a result, LME aluminum staged...
Extruders have excess aluminum billet: sellers
Aluminum billet consumers have started the new year with excess material on the floor after they purchased extra billet in 2012 in case labor contract talks at Alcoa Inc.'s Aluminerie de Becancour (ABI) smelter in Quebec turned sour. Few 2013 spot deals have closed as a result, keeping premiums...
Aluminum Prices Will Weigh On Alcoa's Q4 Earning Results
Alcoa will kick off this quarter’s earnings season when it announces its Q4 results after the market closes on Tuesday, January 8. Alcoa’s results are closely eyed as it usually is the first Dow company to post earnings. We expect the company to record soft earnings, but most investors will watch...
November world aluminum stocks down 87,000 tons at 2.258m tons
Total world aluminum inventories in November fell by 87,000 metric tons from the previous month to 2.258 million tons, according to figures released Thursday by the International Aluminum Institute. World stocks in October stood at 2.345 million tons. November stocks were down 143,000 tons compared...
LME aluminum should fluctuate between USD 2,050-2,080/mt on 31st dec: SMM Morning Review
Both the November existing home sales in the US and December Chicago manufacturing PMI released last Friday beat forecasts, but market focus was on the fiscal cliff talks restarted on December 30. The US dollar index staged a strong rebound and approached 80 as investors tried to avoid risks,...
LME aluminum should move between USD 2,060-2,100/mt on 28th Dec: SMM Morning Review
Expectations for the rebound of the Chinese economy helped LME aluminum jumped to a high of USD 2,108/mt during early European session. However, economic data in the US released later was mixed. Worries over the fiscal cliff talks and the sharp decline of US Consumer Confidence Index for December...
The record glut in aluminum will be no bar to rising prices: Barclays
The record glut in aluminum will be no bar to rising prices because of delays in getting metal from warehouses, even as Barclays Plc advises investors to sell and Morgan Stanley says it has the worst outlook of any commodity. Stockpiles will expand for at least the next four quarters, reaching a...
LME aluminum should move between USD 2,065-2,095/mt on 24th Dec: SMM Morning Review
The US durable goods orders and personal income were upbeat in November, but no progress has been made over the fiscal cliff talks, deterring investors from entering the market ahead of the Christmas Day. Short-covering helped push LME aluminum prices up to USD 2,097.3/mt during the European...
Aluminium in surplus during January-October 2012
World Aluminium markets remained in a surplus of 143000 tonnes in the first ten months of 2012, this was following a surplus of 1.87 million tonnes recorded in the full year ended 2011. World Bureau of Metal Statistics (WBMS) said that total reported stocks were 7.23 million tonnes at the end of...
LME aluminum should move between USD 2,040-2,080/mt on 21th Dec: SMM Morning Review
The final reading of the US 3Q GDP expanded at an annualized rate of 3.1%, higher than forecasts and its highest since 4Q 2011. However, investors are worried that easing policy might end in advance because of economic recovery. Besides, the US initial jobless claims rose to 361,000 last week,...
LME aluminum should move between USD 2,070-2,110/mt on 20th Dec: SMM Morning Review
Housing starts in the US declined 3.0% in November to an annualized 861,000 units, far worse than forecasts. Despite expectations for the solution of the budget negotiations in the US, the Fitch warned that if no agreement is reached over the fiscal cliff, the country will probably lose its AAA...
Rising China's Aluminum production aggravates supply surplus
Mainland China's aluminum output remains strong, meaning the market is still not getting the supply cuts necessary to start whittling down ample global supplies, said Barclays Capital in an assessment of a report on Chinese base metal output in October. According to the British bank, copper and...
Aluminum Stockpiles Climb to Record
Aluminum inventories in warehouses monitored by the London Metal Exchange rose to a record and traders may decide to deliver even more metal. Stockpiles climbed 0.7 percent to 5.24 million metric tons on gains in Detroit and Baltimore, exchange data showed today. Tomorrow is the so-called prompt...
