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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Aluminium drops on oversupply worries
Aluminium hit a three-week low on Thursday on concerns of oversupply and a cut in Chinese power prices, while lead and zinc hit multi-month highs on further inventory drawdowns. Daily London Metal Exchange (LME) data showed lead stocks MPB-STOCKS fell 725 tonnes to 223,125 tonnes, their lowest...
Aluminium slides on global cues
Prices of aluminium declined by INR 2 per kg at the non-ferrous metals market today largely on weak global trend. Traders said sentiments in aluminium turned weak as it declined to a three-week low in global markets after the biggest US producer flipped its outlook for the metal to an oversupply...
Shanghai aluminium drops on prospect of cheaper power in China
Shanghai aluminium dropped on Thursday after the Chinese government announced measures to cut power prices, which traders bet would lower the production costs of local aluminium and depress prices. Aluminium traded on the Shanghai Futures Exchange fell more than 2 percent before trimming losses to...
Aluminium outlook appears neutral according to Fibonacci projection
LME aluminium looks neutral in a range of $1,780-$1,805 a tonne, and an escape will point a direction. The range has been formed by the 23.6 per cent and the 61.8 per cent Fibonacci projection levels of an upward wave C, the third wave of a presumed three-wave cycle developed from March 12 low of...
Aluminium marginally up on global cues
Aluminium futures traded a shade higher at INR 111.70 per kg today as speculators enlarged exposures on pick-up in spot demand. However, the metal's weakness overseas capped the gains. At the Multi Commodity Exchange, aluminium for delivery in March traded higher by 15 paise, or 0.13%, at INR...
London Metal Exchange urged to act swiftly over 'broken' aluminium market
The giant corrugated white shed that dominates the quayside at Vlissingen in the Netherlands is just one of many dull metal boxes like it, dotted around the harbour city. Inside the vast hangar, shimmering under the fluorescent bulbs, are row after row of neatly stacked aluminum ingots. Mundane as...
Aluminium falls by 0.4% on profit-booking
Aluminium prices fell by 0.45% to INR 111.50 per kg in futures trade today as participants reduced their exposures even as the metal strengthened at the London Metal Exchange (LME). At the Multi Commodity Exchange, aluminium for delivery in March eased by 50 paise, or 0.45%, to INR 111.50 per kg in...
LME wants more electronic trading, deals with aluminum warehousing fallout
The London Metal Exchange wants to grow its electronic trading marketplace. Executives at the world’s biggest and oldest market for industrial metals believe they can grow it quite rapidly if the right conditions are put in place. Paul MacGregor, the exchange’s head of sales, said at an LME event...
Aluminium rises by 0.2% on global cues
Aluminium futures rose by 0.23% to INR 111.05 per kg today as speculators enlarged exposures on pick up in spot demand and a firming trend in base metals overseas. At the Multi Commodity Exchange, aluminium prices for delivery in March traded higher by 25 paise, or 0.23%, at INR 111.05 per kg in a...
LME paid $2 mln by Rusal after court case; profit up 1 pct
The London Metal Exchange (LME) was paid around $2 million by Russia's Rusal after the aluminium producer lost a lawsuit over warehouse reform, the LME's owner said on Thursday. The hefty Rusal payment in February will provide a respite from heavy legal fees for Hong Kong Exchanges and Clearing Ltd...
London Metal Exchange aims to double cuts to warehouse logjams
The London Metal Exchange (LME) announced new rules and proposals on Monday aimed at slashing delivery backlogs at its global network of warehouses twice as quickly as under current reforms. The move is part of a wide-ranging reform drive sparked by consumer complaints about long delays to obtain...
Aluminium up by 0.2% on high demand
Aluminium futures edged higher by 0.23% to INR 111 per kg today after speculators enlarged positions amid pick-up in demand at spot markets. Furthermore, a firming trend in metal at the London Metal Exchange (LME) on fall in its inventories supported the upside. At the Multi Commodity Exchange,...
UC RUSAL announces its results for the year ended 31 December 2014
Key highlights • Positive trends in the aluminium market observed during the year ended 31 December 2014 with recovering London Metals Exchange (“LME”) aluminium prices and growing premiums, coupled with weakening local currency had significant positive effect on the profitability and financial...
UC Rusal comments on LME official stock decline below 4 Mln tonnes
UC RUSAL, a leading global aluminium producer, notes that official LME aluminium stocks fell below 4 million tonnes on 11 February for the first time since May 2009. RUSAL notes that LME aluminium stocks keep declining and maintain a steady decrease of around 7 thousand tonnes per day. This...
Aluminium futures weaken on global cues
Aluminium prices fell by 0.22 per cent to INR 113.85 per kg in futures trading today as speculators reduced positions amid weak global cues. Further, subdued demand in the domestic spot markets weighed on the prices of the metal. At the Multi Commodity Exchange, aluminium for delivery in current...
Aluminium futures weaken on global cues
Amid a weak trend in base metals at the London Metal Exchange, aluminium prices fell by 0.56 per cent to INR115.20 per kg in futures trading today as speculators trimmed positions. Further, subdued demand in the domestic spot markets also weighed on the metal prices. At the Multi Commodity...
Aluminium sheds by 0.4% on global cues
Aluminium prices traded marginally down by 0.39% to INR114.90 per kg in futures trading today as speculators reduced exposure amid a weak trend overseas and sluggish demand from consuming industries in the spot market. At the Multi Commodity Exchange, aluminium for delivery in February shed 45...
Aluminium gains as global stockpiles dwindle
The global aluminium stockpiles drops to the lowest it has been in more than five months, tightening supply and pushing the aluminium prices up. London Metal Exchange tracked the metal stockpiles to find that it has now hit 4.08 million which is the least it has been since May 2009. Aluminium...
