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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The light metal closed down USD 8.8/mt at USD 1,901.3/m: SMM Morning Review
The apparent Fed disagreement on further economic stimulus reflected in its June interest rate meeting minutes pushed the US dollar index to 83.610, a two-year high, eroding the space for commodities prices to climb. LME aluminum dropped to a low of USD 1,895/mt as short selling increased, with...
Japan aluminium stocks up 4.3 percent in June
Aluminium stocks held at three major Japanese ports came to 232,900 tonnes at the end of June, up 4.3 percent from 223,200 tonnes a month earlier, trading house Marubeni Corp said on Tuesday. The stocks at the end of June were up 1.9 percent from 228,600 tonnes in the same month in 2011. Marubeni...
The light metal settled down USD 16.3/mt at USD 1,910/mt: SMM Morning Review
The sharp contraction in Chinese imports in June pushed the US dollar index to test resistance at 83.5, weakening momentum of commodities. LME aluminum struggled at the 5-day moving average without any breakthrough, hitting a high of only USD 1,930.5/mt. The light metal retreated to losses at the...
Ample Aluminium inventory responsible for low aluminium price
AS METAL markets enjoyed a once-in-a-generation party over the past decade, aluminium was the proverbial wallflower. At most, its price rose 143 per cent, and it now sits 38 per cent above where it stood 10 years ago. Compare that to copper, which peaked with a gain of more than 500 per cent and is...
LME aluminum lost USD 44.3/mt to close at USD 1,900/mt : SMM Morning Review
LME aluminum lost a heavy USD 44.3/mt or 2.28% to USD 1,900/mt on Friday, though recovering a little from the intraday low of USD 1,894/mt, as less-than-expected increases in non-farm payrolls in the United States in June pushed up risk aversion to induce short selling. Positions for the light...
Alcoa profit affected by low aluminum price
Aircraft and automobile makers may be using more aluminum, but as long as the metal's price remains near two-year lows, Alcoa Inc will struggle, analysts said on Friday. The average earnings estimate has been cut over the past week from 15 cents per share and Wall Street now expects Alcoa to post...
LME aluminum closed down USD 11/mt at USD 1,945/mt: SMM Morning Review
Interest rate cuts by Chinese and European central banks overnight were overshadowed by ECB President Mario Draghi’s pessimistic remarks towards the euro zone economy, pressing down the euro and pushing the US dollar index near 83. LME aluminum started at USD 1,956.8/mt and closed down USD 11/mt,...
LME aluminum settled at USD 1,971/mt: SMM Morning Review
LME aluminum surged as much as 4.36% overnight to USD 1,993/mt, a new high since June 11th, amid strong short covering induced by rapidly increasing expectations on easing policies from both China and Europe. Transacted contracts doubled to 25,000 lots, a new high since December 30th, 2011. Lacking...
LME aluminum settled down USD 5.3/mt or 0.27% at USD 1,909.8/mt: SMM Morning Review
Contractions of manufacturing data were reported across China, the US and Europe on Monday, (Euro zone and US data have fallen to their three-year lows in this regard), rekindling investor worries. At the moment investors are waiting for a direction from the coming ECB interest resolution and the...
China in monthly aluminum deficit in May as global demand rises
China and the rest of the world (RoW) were in a physical aluminum market deficit in May as global aluminum demand grew 7.7% year-on-year, said Harbor Intelligence in a research note. According to the Harbor Intelligence, under the traditional formula (production plus/minus visible headline...
LME B8Aluminum prices fall to a two-year low
Aluminum prices have fallen to a two-year low on the London Metal Exchange (LME), pressured by a mix of technical and fundamental factors that are weighing on the broader base-metals complex, given growing concerns about the health of the global economy. Traders and brokers said sellers appeared to...
May World Aluminum Stocks dropped by 21,000 metric tons to 2.396 million tons
Total world aluminum inventories in May dropped by 21,000 metric tons to 2.396 million tons, according to figures released Tuesday by the International Aluminum Institute. World stocks in April stood at a revised 2.417 million tons. May stocks were up 966,000 tons compared with the same month of...
LME aluminum slipped to a fresh two-year low of USD 1,854/mt and settled at USD 1,868.8/mt: SMM Morning Review
LME aluminum slipped to a fresh two-year low of USD 1,854/mt on Friday after Moody’s downgraded 15 large banks and due to the huge needed for the Spanish banking sector. Investor risk appetite rebounded during later trading, however, trimming LME aluminum losses to only USD 0.3/mt. The light metal...
Aluminum shipment picks up in US and Canada in May
Growth in May shipments of aluminum accelerated in both the US and Canada, an improvement from the smaller growth levels shown in April. Inventory positions improved slightly in both countries. US Service Center Activity: 136,100 tonnes of aluminum products were shipped by US Service Centers in...
Alcoa's fortune drops with the dropping aluminum price
Alcoa Inc. makes aluminum, so when aluminum prices drop, so do its fortunes. Goldman Sachs cut its earnings estimate for Alcoa through 2014 because of lower aluminum prices. Alcoa's share price fell more than 4 percent Thursday. Analyst Sal Tharani wrote late Wednesday that aluminum inventory...
LME aluminum slipped to USD 1,897.8/mt, a two-year low: SMM Morning Review
LME aluminum lost USD 24.8/mt or 1.28% to USD 1,902.8/mt overnight as Fed decided only to extend “operation twist” till year-end in addition to maintaining low interest rates, disappointing investors expecting QE3. The light metal also slipped to USD 1,897.8/mt, a two-year low, while extending its...
Base metals outlook by Kotak
MCX Aluminum may note gains tracking firmness in international exchange. Supporting prices is firmness in copper prices and falling stocks at LME. Stocks at LME rose by 2,050 tons yesterday after declining by 16650 tons last week. Meanwhile cancel warrants ratio jumped to 37.5% signaling demand in...
Hulamin gains 1,8% after reparing its hot finishing mill
Aluminum product manufacturer Hulamin gained 1,8% to R5,60 yesterday after saying its Camps Drift hot finishing mill has been repaired and recommissioned, 46 days after a failure in its main 68-ton motor. It said production of thicker gauge plate and production from the mill’s twin roll casters...
