Low inventory supports aluminium prices to consolidate at highs; Peak season recovery pace awaits verification
Futures: The most-traded SHFE aluminium contract opened at RMB 24,590 per tonne in the night session on September 9, reached a high of RMB 24,660 per tonne and a low of RMB 24,565 per tonne, and closed at RMB 24,650 per tonne, up RMB 90 per tonne or 0.37 per cent from the previous close. Futures...
LME aluminium cash offer rises 0.84% to $3,353/t; stocks remain unchanged at 244,525t
The LME aluminium price moved higher on September 9 compared with the previous trading day, with cash and three-month aluminium prices recording gains, while total warehouse stocks remained unchanged. On September 9, the LME aluminium cash bid price stood at USD 3351.5 per tonne, up USD 27.5 per...
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SHFE aluminum to rebound next week after hitting over three-year low
August aluminum on the SHFE is expected to rebound to 12,600-12,750 yuan per tonne next week, Shanghai Metals Market foresees. The contract is in oversold territory, presaging a rally on the horizon, SMM’s research team said. LME aluminum might face correction following steep fall this past week,...
LME aluminium contract may fail to serve its purpose
LME aluminium contract which was supposed to be launched in November 2015 may fail to serve the purpose as the aluminium premiums are falling at a higher rate. LME aluminium contract was a strategy to withstand rising aluminium premiums and long LME warehouse queues as well as to free the metal...
London Metal Exchange to launch new range of aluminum contracts
The London Metal Exchange on Monday said it is launching a new range of aluminum contracts to allow users to protect themselves against rising regional charges that occur in addition to the cost of the metal. The decision is part of a broader strategy by the LME to keep a handle on costs for market...
Aluminium drops after data shows high Chinese exports
Aluminium prices fell on Monday after data showed Chinese exports of the metal remained strong, highlighting worries about a glut of supply on the global market. Copper was steady and some other metals were firmer after a bigger than expected slide in overall Chinese imports boosted hopes for more...
Aluminum gains second time in three days on China demand outlook
Aluminum gained for the second time in three sessions on speculation that demand will climb in China, the world’s top metals consumer. A Chinese factory gauge rose last month, signaling that the government’s monetary easing has helped to cushion the economy. Goldman Sachs Group Inc. said Monday...
Growing aluminium supply hurts prices
Aluminium hit its weakest in a year yesterday on rising supplies amid fears that the market is headed for the worst period in three years. Aluminium is in oversupply with a huge stock overhang, and output has continued to rise this year, with the latest industry figures showing daily average...
Aluminium prices rise by 0.36% in futures trade on overseas uptrend
Aluminium prices today rose 0.36 per cent to INR110.55 per kg in futures trade as speculators enlarged positions amid a rising trend overseas. Furthermore, increased demand at domestic spot markets influenced prices. At the Multi Commodity Exchange, aluminium for delivery in May rose 40 paise, or...
US Aluminium Scrap prices show flat trend; LME Aluminium settles down to $1,846 a ton
United States major aluminium scrap commodities prices showed a flat trend on Thursday, while the futures prices at London Metal Exchange settled down 0.7% at $1,846 a ton. As per Scrap Register Price Index, major aluminium scrap commodities like 356 auto wheels, 5052 alum clip, 6061 alum...
Coca-Cola wants more done on aluminum waits as costs run high
The London Metal Exchange hasn’t done enough to reduce the time it takes to withdraw aluminum from warehouses, said William Hovis, who helps oversee Coca-Cola Co.’s purchases of the metal. Hovis, chief procurement officer at the company’s bottling investment group, echoed concerns from other...
UC RUSAL announces results for first quarter ending 31 March 2015
Key highlights • The first quarter of 2015 was a challenging period for the aluminium industry. In particular, there was a 8.5% decrease in the average London Metals Exchange ("LME") aluminium price of USD1,801 for the first quarter of 2015 as compared to USD1,968 in the preceding quarter, as well...
Aluminium futures fall on global cues
Aluminium prices fell 0.41 per cent to INR 120.40 per kg in futures trading today, taking weak cues from global markets. Further, subdued demand in the domestic spot markets also weighed on the metal prices. At the Multi Commodity Exchange, aluminium for delivery in June shed 50 paise, or 0.41 per...
Noranda CEO predicts rise in LME aluminium price
Noranda, along with its results, also declared that its Board of Directors has declared a regular quarterly dividend of $0.01 per share which will be paid on June 10, 2015 to shareholders of record as of May 18, 2015. The Board intends to maintain this dividend in all the future quarters on a...
LME aluminium to fall to $1,892
LME aluminium may fall to a support at $1,892 per tonne, as it has peaked around a resistance at $1,930. The resistance and the support are identified respectively as the 161.8 percent and the 123.6 percent Fibonacci projection levels of an upward wave C, the third wave of a three-wave cycle that...
Three-month aluminium on the London Metal Exchange improves
Aluminium has surged to a two-and-a-half-month high, pushed up by speculative buying, but some analysts doubt how long the rally can last given expectations of high Chinese exports. THREE-MONTH aluminium on the London Metal Exchange ended up 2.1 per cent at $US1,874 a tonne, its highest since early...
Rusal battles with LME on aluminium price
Rusal, the world’s largest aluminium producer, has reignited its war of words with the London Metal Exchange, saying the LME has allowed financial speculators to distort prices. Vladislav Soloviev, chief executive of the heavily indebted Russian group, said the price of aluminium traded on the LME...
China primary aluminum imports fell 74.25% YoY in March
China imported 10,600 mt of primary aluminum in March, down 74.25% YoY, but up 60.61% MoM. Imports in Q1 totaled 22,500 mt, down 85.35% YoY, customs data showed. LME aluminum fell to USD 1,800/mt due to tumbling crude oil, growing aluminum semis exports by China, expansions in Indian aluminum...
LME moves to cut warehouse queues faster
New measures to increase the amount of metal withdrawn from warehouses, relative to material brought in, will help to reduce queues faster at London Metal Exchange (LME) registered warehouses, the exchange said on Monday. The LME, the world's oldest and biggest market for industrial metals which is...
Bank of America Merrill Lynch cuts 2015 price forecast for Aluminium to $1,800 a ton
Bank of America Merrill Lynch has cut its this year price forecast for aluminium to $1,800 a ton and remained unchanged for 2016. Bank of America Merrill Lynch previously mentioned that gold prices to average $1,818 a ton this year and $1,850 a ton for next year. Aluminium has been among the best...
