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...
Grow with
AL Circle
Aluminium down by 1.3% on overseas trend
Aluminium futures prices fell 1.35% to INR 109.35 per kg today as speculators reduced positions amid a weak trend in base metals at the London Metal Exchange. At the Multi Commodity Exchange, aluminium for delivery in January lost INR 1.50 paise, or 1.35%, to INR 109.35 per kg, with a business...
Scrap aluminium prices dip reflecting falling LME prices
As the LME aluminium prices fall and the buying activity lessens among the primary metal companies, the UK pure-grade aluminium scrap prices were also seen falling on Wednesday January 7. Commercial pure cutting which was £1,100-1,160 per tonne previously, fell to £1,020-1,100 per tonne. In the...
Shanghai aluminium tumbles
The most traded March aluminium contract on the Shanghai Futures Exchange hit a contract low for the fourth session running, due to a glut of capacity in the world's top producer of the metal. The ShFE contract launched in 2005. China aluminium producers have been stepping up exports of semi...
Speculations on the fate of aluminium in 2015
Predicting the market conditions for the new year is always a tricky business and it becomes even more so when it is in regard to a volatile market like aluminium which has seen such ups and downs in the previous year itself. Yet industry experts are making tentative predictions about what may...
LME to raise rental charges to offset the fast load-out rates
London Metal Exchange registered warehouses will be raising the average rental rates by 3.6% in 2015 which is double the increase of previous year and will help offset the impact of the fast clearing warehouse loud-out queues. LME warehouse owners had gained a lot of revenues by allowing long...
Aluminium up 0.3% on global cues, spot demand
Taking positive cues from overseas markets and rising spot demand, aluminium futures prices rose by 0.30% to INR 117.35 per kg today as traders created fresh positions. At the Multi Commodity Exchange, aluminium for delivery in current month moved up by 35 paise, or 0.30%, to INR 117.35 per kg,...
Marubeni says LME aluminium prices may rise towards $2,300 a tonne next year
London Metal Exchange (LME) aluminium prices are forecast to rise gradually in the latter half of next year possibly to as high as $2,300 a tonne as smelter shutdowns and output cuts squeeze supply, Japanese trading house Marubeni Corp said. "We expect the LME prices to move higher next year as the...
Aluminium rises on global cues, spot demand
Buoyed by firming trend overseas and rising spot demand, aluminium futures prices rose by 0.25 per cent to INR 118.45 per kg today as traders created fresh positions. At the Multi Commodity Exchange, aluminium for delivery in current month moved up by 30 paise, or 0.25 per cent, to INR 118.45 per...
Aluminium market under long liquidation, open interest drops 7.15%
Aluminium settled down -1.2% at 119.25 after US economic data were mixed overnight. Initial jobless claims and the Conference Board Leading Economic Index were positive. But Markit’s service PMI and Philadelphia Fed’s manufacturing index missed forecasts. A firm dollar and falling crude oil prices...
The LME queues are reducing across all registered warehouses
The backlog to remove aluminum from Detroit, the most acutely impacted location, shrank by 30 days to 641 days, while the wait to remove other metals stuck behind the wall of aluminum fell from 111 to 93 days. The reduction in waiting times was even sharper at the Dutch port of Vlissingen, a drop...
Aluminum rebounds as inventories near four-year low
Aluminum rose on speculation that China will further stimulate the economy of the world’s biggest metals consumer and as inventories fell to near a four-year low. Aluminum gained as much as 0.6 percent after closing at the lowest in eight weeks on Dec. 12. A private manufacturing Purchasing...
Dominant holder highlights problems in aluminium market
For years buyers of aluminium have put the metal in warehouses, borrowed against it, and waited for prices to rise. It was an obvious trade. Now the metal is finally starting to leave warehouses, but much is still held up in long queues. That has opened up space for large trading bets that have...
LME sees a flat week while premiums continue to rise
LME officials saw a flat week, with cash prices hovering about $2,025/metric ton. The promise of additional policy support that helped rally prices over the past five weeks (September’s European Central Bank interest rate cut and October’s Bank of Japan QE announcement) has collided with fresh...
Aluminium trades at lower level on global cues, low spot demand
Aluminium prices fell 0.40 per cent to INR125.65 per kg in futures trading today as speculators reduced exposure amid weak global trend. At the Multi Commodity Exchange, aluminium for delivery in December declined by 50 paise, or 0.40 per cent, to INR 125.65 per kg in business turnover of 27 lots....
UC RUSAL announces positive results for the three and nine months ended 30 September 2014
UC RUSAL, a leading global aluminium producer, announces its results for the three and nine months ended 30 September 2014. Commenting on the third quarter results, Oleg Deripaska, CEO of RUSAL said: “In the third quarter of 2014 the situation in the aluminium market continued to improve resulting...
Alba Q3 Results surge ahead of expectations
Q3 2014 Industry Highlights: • World consumption up by 8% year-on-year (YoY) while world production up by 6% YoY. Asian demand up by 11% YoY propelled mainly by a robust growth in China (+14% YoY) on the back of government stimulus and infrastructure investment. Consumption in North America remains...
Aluminium dips on producer selling, others mixed before U.S. data
Aluminium dipped on Friday as producers and trade houses sold while the wider base metals complex was mixed ahead of key U.S. jobs data that could move the dollar. Three-month aluminium on the London Metal Exchange fell 0.9 percent to a session low of $2,056.75 a tonne, but pared losses to stand at...
LME to further tighten warehouse rules, starts consultation
The London Metal Exchange (LME) on Friday launched consultations on proposed changes to rules governing physical delivery and its global network of storage warehouses. The LME, which recently won a major court battle about new rules to cut delivery backlogs at warehouses, plans even tougher rules...
