Macro rate hike expectations bring periodic pressure, while destocking in China provides solid bottom support
Futures: The most-traded SHFE aluminium contract opened at RMB 24,310 per tonne in the night session on September 10, reached a high of RMB 24,310 per tonne and a low of RMB 24,075 per tonne, and closed at RMB 24,125 per tonne, down RMB 365 per tonne or 1.49 per cent from the previous close....
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...
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Aluminum Suppliers Offer $114-115/Ton 1st-Qtr Premium To Japan Buyers
Aluminum suppliers are offering first-quarter contract premiums to Japanese buyers around $114 to 115 a metric ton as negotiations for January-March shipment start against a background of soft domestic demand, suppliers told Dow Jones Newswires. First-quarter charges are expected to settle lower...
Shanghai Metals Market Morning Review - 2011/11/28 Aluminum Market
Italian bond yields surged to new highs last Friday. Standard & Poor’s downgraded Belgium’s debt rating and offered a negative outlook for the country. Mounting worries towards the European debt crisis caused a continuous slip in the Euro while the US dollar index surged to 79.702 supported by its...
SMM Morning Review - 2011/11/24 Aluminum Market
HSBC’s November China PMI contracted unexpectedly. Demand was weak at major consumption countries. Disappointing results of German bond sales added to worries that the Euro zone debt crisis is spreading into core countries of the region. As a result, investors sold their commodities to buy the...
Aluminium prices unlikely to rebound amid a slowdown
Aluminium prices on the London Metal Exchange (LME) have fallen 23% from their April 2011 peak to around $2,140/tonne. The rally was triggered by the excess liquidity injected into the markets by the US Federal Reserve as part of its QE2 (quantitative easing) programme in November 2011. But as the...
Latest Q4 2011 Figures for the Aluminum Die-Casting Foundries Industry in the U.S. and its International Trade
Research and Markets has announced the addition of Supplier Relations US, LLC's new report "Aluminum Die-Casting Foundries Industry in the U.S. and its International Trade" to their offering. This latest 2011 Aluminum Die-Casting Foundries Industry report provides the most updated market research...
Shanghai Metals Market Morning Review - 2011/11/18 Aluminum Market
Nearly 7% yields for Spanish debt and a 0.5 percentage point surge in French 2-year and 4-year debt overnight may indicate that the European debt crisis is spreading from peripheral countries to core countries of the Euro zone. Selling for commodities accelerated as investors’ risk aversion...
Aluminium's allure to increase in next decade -CRU
Less volatile prices and supply certainty are just two factors that will make aluminium stand apart from other industrial metals including copper in the next decade, a senior analyst at consultancy CRU Group said on Wednesday. "We are predicting at least a decade now of aluminium being the...
Aluminium Registers Surplus In Jan-Sep, Lower On A Y-o-Y Basis
Aluminium markets situation looks more comfortable than Copper even though the surpluses in the former are high. The Aluminium markets recorded a surplus of 638500 tons during Jan-Sep 2011, this was down by 25% from 859000 tons surplus registered in Jan-Sep 2010. The calculation by World Bureau of...
Analyst expects high crude oil prices will cushion sharp downside in Aluminum
Returns in case of Aluminum on a year-to-date basis stands at a negative 13 percent on the LME as weak global economic prospects has led to downside pressure on prices. Also, rising inventories acted as a negative factor for aluminum which have increased by 6 percent and 69 percent on the LME and...
SMM Morning Review - 2011/11/11 Aluminum Market
Weak overseas demand narrowed China’s trade surplus in October. The Italian debt issue was continuously weighing on global markets. Good news were that US new unemployment claims dropped to 390,000, a seven-month low, for the week ending on November 5th and Standard & Poor’s denied rumors that...
SMM Morning Review - 2011/11/10 Aluminum Market
Mounting investor worries towards debt woes of Italy had pushed yield of Italian public debt to 7.502% overnight, a new high since establishment of the Euro zone. A selling wave for the Euro and commodities also started. The US dollar index, supported by increased haven demand, surged to the 78...
Aluminium Inventories In China Appreciates On Some Restocking
Aluminium inventories in Shanghai appreciated during the week ending 4 Oct 2011 giving an indication that some restocking exercise was under way in the metal after week imports reported for September. After the decline in China PMI this month the markets were wondering that the intake of Aluminium...
SHFE copper and aluminum inventories rise but zinc and lead fall
Commodity reported that all the metals apart from Nickel closed higher and has continued to strengthen on Friday. Copper breaking above USD 8,000 per tonne after markets took some comfort from Tuesday's ECB rate cut and scrapping of the Greek referendum. The move up in prices has come alongside a...
Aluminum Plate, Sheet and Strip Producers Face Difficulties in Destocking on Weak Demand
SMM sources report that aluminum plate, sheet and strip producers faced growing difficulties in destocking. Finished product inventories at many aluminum plate, sheet and strip producers account for 50% of or even exceed their current monthly output, and few producers can keep inventories below 33%...
Chinese aluminum imports in Sept up by 40pct
China remained a net importer of primary Aluminum in September, as imports of primary aluminum at 10.8 Kilo tonnes advanced 40% YoY and outpacing export levels at 1.2 Kilo tonne declined 81% YoY. Barclays said that combined with a robust domestic production at 1.58 million tonne gained 21% YoY and...
Destocking hits Hydro’s rolled products unit
Norsk Hydro ASA is feeling the negative effects of destocking in its rolled products division, which posted a nearly 50-percent drop in volume in the third quarter over the previous three months. "Volume is down...on seasonality, but also (due to) what we call destocking in this segment,...
Kaiser cut back in 3d qtr. at Kalamazoo
Kaiser Aluminum Corp. significantly scaled back production at its Kalamazoo, Mich., extrusion plant for a few weeks in the third quarter in response to service centers destocking, the company’s top executive said. "Destocking caught us a little bit flat-footed, and we curtailed operations at...
SMM Aluminum Price Forecast (Oct. 24-28)
Aluminum inventories monitored by SHFE surged by 40,000 mt following China’s National Day holiday due to the approaching delivery date and weak consumption, taking inventories which fell to a record low since February 2008 before the holiday to above 100,000 mt. SHFE three-month aluminum contract...
