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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LME Aluminum continues the losing streak: SMM Morning Review
Greek election results motivated early Asian trading, but the market soon focused on whether the new government can improve Greece's debt problem and optimism gradually dissipated, and with Spain's 10-year bond yields climbing to more than 7% to further exacerbate the worries over the debt of...
Aluminum continues to struggle around $1,950/ton
Aluminum continues to struggle around $1,950 a metric ton support, said Edward Meir, commodities consultant with INTL FCStone. Meir continued that, “Some of this may be due to the lack of fresh production cutbacks despite prices below $2,000. This is especially true of China, where year-to-date...
LME aluminum settled down USD 18.3/mt at USD 1,935.3/mt: SMM Morning Review
The Greek election led to cautious shorts standing on the sidelines. Weaker-than-expected May industrial output and Michigan University Consumer Confidence Index in the US rekindled stimulus expectations on Fed. The US dollar retreated, helping commodities rebound. LME aluminum, however, failed to...
LME aluminum settled down USD 6.5/mt or 0.33% at USD 1,953.5/mt
Italian and Spanish debt yields climbed. Greek stocks prices jumped before the Greek election. US CPI and employment data disappointed, dragging the US dollar index below 82. LME aluminum opened at USD 1,960/mt during Asian trading and climbed slightly, shortly breaking through the 5-day moving...
LME aluminum settled down USD 10/mt or 0.51% at USD 1,960/mt: SMM Morning Review
Soft US economic data dragged the US dollar index down to 82. LME base metals stayed within narrow bands, however, as investors were cautiously waiting for the Greek election result. LME aluminum opened at USD 1,975/mt and settled down USD 10/mt or 0.51% at USD 1,960/mt. Both transactions and...
The grey metal settled down USD 4/mt or 0.2% at USD 1,970/mt: SMM Morning Review
Greek debt yields surged to new highs, with 18 banks being downgraded. The Greek election is also near. European factors continued to stimulate risk aversion. LME aluminum met strong resistance at and stayed below the 5-day moving average, dropping to a low of USD 1,961/mt, a new low of this year....
Japan's aluminium stocks falls 5% month on month
Aluminium stocks held at 3 major Japanese ports came to 223,200 tonnes at the end of May down 4.9% from 234,800 tonnes a month earlier. Trading house Marubeni Corporation said that the stocks at the end of May were down 1% from 225,400 tonnes as of the end of May 2011. Marubeni collects data from...
Aluminum may face supply deficit in 2013: Rio Tinto
The global aluminum market will be more balanced this year and could shift into a supply deficit by 2013 as new projects fail to keep the pace with high-cost capacity cuts this year, Rio Tinto Alcan's Chief Executive said Tuesday. "Supply will become more challenging ... the market will be near a...
LME aluminum closed down USD 12/mt or 0.6% at USD 1,974/mt: SMM Moring Review
Spain’s EUR 100 billion aids ignited bullishness in the market, but as practical measures are absent, pessimism is waning, pushing up the US dollar index and eroding gains of commodities. LME aluminum hit a high of USD 2,002/mt and closed down USD 12/mt or 0.6% at USD 1,974/mt. Latest LME aluminum...
Aluminium to hang between Rs 108 per kg and Rs 107.5 per kg on11th June
MCX Aluminium buoyed by 0.5% or R 0.5 at R 108.9 per kg on Friday, 8th June and tested an intraday high of R 108.95 per kg and low of R 108 per kg. Bargain hunting with 10% dip in its open interest to 1900 lots lifted up the metal. The contract traded below 9-day EMA and RSI stood at 38.13....
LME aluminum settled down USD 2/mt or 0.1% at USD 1,986/mt on Friday
LME aluminum hit a low of USD 1,968/mt and almost recovered later supported by bargain-hunting, settling down a slight USD 2/mt or 0.1% at USD 1,986/mt on Friday. The wait-and-see sentiment was strong before delivery of Chinese economic data for May and as European leaders stepped up efforts on aid...
Japan aluminium stock dropped by 4.9% month on month
Aluminium stocks held at three major Japanese ports came to 223,200 tonnes at the end of May, down 4.9 percent from 234,800 tonnes a month earlier, trading house Marubeni Corp said on Monday. The stocks at the end of May were down 1 percent from 225,400 tonnes as of the end of May 2011. Marubeni...
LME aluminum to hover between USD 1,970-2,000/mt: SMM Morning Review
Amid early strong interest rate cut expectations, the PBOC announced Thursday evening to cut one-year deposit and loan benchmark rates by 0.25 percentage point, boosting market confidence. During European trading, LME aluminum got over early weakness and climbed with other metals, breaking through...
Alumina Ltd Dividend Under Threat
The near-term operating environment for Alumina is difficult, as overcapacity is driving down prices, aluminium inventories are at near record levels and capacity closures haven't yet been enough to tighten up the market. In JP Morgan's view this tough near-term outlook for Alumina Ltd should not...
Aluminium ended on flat note at LME
Aluminium ended flat at 1986 per tonne Thursday. Investors got cheered by the successful bond auction and fall in US jobless claims on one side and China's reserve rewuiement which raised the concerns on its sluggish growth economic scenario coupled with Fed signaling no further stimulus on other...
LME aluminum prices dropped down USD 22/mt or 1.1% settling at USD 1,972/mt
Manufacturing contraction showed in major economies and the United States’ May non-agricultural employments grew less than expected, with the unemployment rate rebounding, increasing risk aversion and leading to widespread sell-off of commodities and buying of haven gold. LME aluminum prices...
LME aluminum dropped below USD 2,000/mt to close down 0.8% at USD 1,994/mt: SMM Morning Review
Weak US ADP employment data for May and final 1Q GDP released overnight reignited risk aversion, helping the US dollar index return above 83 and record a new 2012 high. LME aluminum weighed by the strong US dollar, dropped below USD 2,000/mt and for the first trading day failing to return above the...
Midwest aluminum premiums hit 11 cents
Midwest aluminum spot premiums rose to new highs this week, hitting 11 cents per pound as the contango on the London Metal Exchange continues to encourage traders to finance metal in warehouses, keeping supply tight. "The sky’s the limit," one trader told AMM, quipping that the Midwest premium was...
