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 prices driven by financials - Norsk Hydro
Reuters cited Mr Jorgen Rostrup CEO of Norsk Hydro as saying that financing deals were helping to drive aluminium prices but they still had performed poorly compared with other base metals. Mr Jorgen Rostrup said that there seems to be a willingness to invest in these inventories to keep them off...
Japanese aluminum stocks in May up by 3pct MoM
Reuters reported that aluminum stocks held at three major Japanese ports at the end of May rose to 7 month high, reflecting inflows from delayed deliveries and also a rise in imports. An official at trading house Marubeni Corporation said that aluminum stocks at the ports came to 225,400 tonnes at...
Chinese aluminum market remains flat on high production and weak demand
Chinese aluminum prices may keep flat due to high production and weaker demand in the coming two months. It’s estimated that 1.5 million tonnes of new annual capacity will come on stream during June and July. Also, the monthly production hit the record high of 1.46 million tonnes in April....
Aluminium prices driven by financials -Norsk Hydro
Norsk Hydro's (NHY.OL: Quote) chief financial officer said on Tuesday that financing deals were helping to drive aluminium prices but they still had performed poorly compared with other base metals. "There seems to be a willingness to invest in these inventories to keep them off the market, with...
Aluminum Stockpiles Fall the Most Since November, LME Data
Aluminum inventories tracked by the London Metal Exchange fell the most since November, daily exchange figures showed today. Aluminum stockpiles fell 9,000 metric tons, or 0.2 percent, to 4.64 million tons, the most since Nov. 10, led by declines in the U.S. and South Korea. Inventories fell for...
Aluminum Bookings Advance From LME Warehouses Across Asia
Bookings to remove aluminum held in warehouses in Asia have surged to the highest level in at least 13 years, prompting speculation that record fees for supplies in the U.S. and Europe may be drawing away inventories. So-called canceled warrants from Asian stockpiles monitored by the London Metal...
Aluminum Stockpile Orders Advance on Increase in California
Orders to draw aluminum from London Metal Exchange inventories climbed, nearing the highest level in more than 13 years, on an increase in California. Total canceled warrants, as the orders are known, rose 6,775 metric tons to 529,725 tons, daily exchange figures showed. A further increase of 50...
Aluminum Stockpile Orders Advance on Increase in California
Orders to draw aluminum from London Metal Exchange inventories climbed, nearing the highest level in more than 13 years, on an increase in California. Total canceled warrants, as the orders are known, rose 6,775 metric tons to 529,725 tons, daily exchange figures showed. A further increase of 50...
Rio Alcan still cautious on aluminum outlook
Reuters reported that Rio Tinto Alcan sees strong demand for aluminum in all sectors but remains cautious about its medium term outlook because of the high level of the inventories in London Metal Exchange warehouses. Ms Jacynthe Cote CEO of Rio Tinto Alcan said that concerns about European debt,...
Post-Recession Outlook Positive for Aluminum, Say Mill Execs
The U.S. aluminum market improved more last year than many had expected and this year may be even better, predicted Steven Demetriou, chairman and chief executive officer of Aleris International Inc., Beachwood, Ohio. Demetriou was part of a press roundtable at the Aluminum Association and Aluminum...
Aluminum Canceled Warrants Climb to Highest Since at Least 1997
Orders to draw aluminum from warehouses monitored by the London Metal Exchange climbed to the highest level since at least October 1997, daily exchange figures showed today. Total canceled warrants, as the orders are known, rose 14,275 metric tons to 514,650 tons, the highest level in more than 13...
Aluminum Inventories Decline for a Sixth Day, LME Data Show
Aluminum inventories tracked by the London Metal Exchange fell for a sixth day, led by declines in the U.S., daily exchange figures showed today. Stockpiles of the metal dropped 6,350 metric tons to 4.69 million tons, with 3,250 tons delivered out of warehouses in Detroit, Mobile, New Orleans and...
Aluminium supply decreased, premiums jumped
Bank financing deals which have tied up large amounts of aluminium in London Metal Exchange warehouses has led some suppliers to impose surcharges, German luxury carmaker BMW (BMWG.DE) said on Friday. Metal industry sources estimate these deals have tied up a hefty 70 percent or 3.3 million tonnes...
Unwrought aluminum stocks fall to 1.514 in April - IAI
A series of recent FT articles covering a range of topics such as global growth, commodity market volatility and aluminum demand appear to offer conflicting guidance on the direction of prices for the light metal later this year and next. Aluminum’s price correlation to oil is an issue we have...
Unwrought aluminum stocks fall to 1.514 in April - IAI
Western world unwrought aluminium stocks fell to 1.514 million tonnes in April from a revised 1.550 million in March, industry data showed on Thuerday. Unwrought stocks stood at 1.209 million tonnes in April 2010, provisional data from the International Aluminium Institute (IAI) showed. Total...
Aluminium futures likely to trade higher on MCX
MCX Aluminium yesterday traded with the positive node and settled 1.66% up at 114.75 as rising crude oil prices helped push up Aluminium prices to a high of 115.45, but high inventories caused LME Aluminium prices to trim some gains. Market sentiment will remain sluggish in view of rising cash flow...
Aluminium rises on international market
Primary Aluminium surplus stood at 252000 tonnes in Jan-Mar 2011 as per the latest report from World Bureau of Metal Statistics (WBMS). The primary Aluminium markets were in surplus of 348000 tonnes in Jan-Mar 2010. Aluminum stockpiles dropped for a tenth week, shrinking 8,523 tons to 356,646 tons,...
Aluminum consumer pinch won't prompt U.S. restarts
Aluminum users in the United States are feeling the pinch from tight availability, but idled smelters there will not be lured out of semi-retirement while stocks of the metal climb and it can be produced more cheaply elsewhere. U.S. Midwest spot aluminum premiums -- which reflect how tight domestic...
