LME aluminium cash bid price drops 2.06% to $3,273/tonne as stocks decline to 244,350t
LME aluminium prices recorded a sharp decline on September 11 compared with the previous trading day, with cash and three-month prices falling by around 2%, while exchange stocks edged lower. The LME aluminium cash bid price slipped to USD 3,273 per tonne on September 11, compared with USD 3,342...
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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Barclays forecasts 1.8MT market surplus for Aluminium in 2013
Barclays forecast a 1.8Mt market surplus for aluminium in 2013, which would drive the stock-to-consumption ratio to more than nine weeks over the course of the year. There is more diversity in perspective on the aluminium market this year, they said. The standout performer over the past week has...
LME Aluminium price falls from 6-week high
Aluminium prices on the London Metal Exchange fell from a six-week high in early Asian trading on Monday February 18 as China returned from a week-long holiday to sell the lightweight metal. LME three-month aluminium traded down $7 from open at $2,153.50 per tonne by 03:00 London time. The metal...
Aluminum Drops Most in Three Weeks as Industrial Metals Fall
Aluminum in London declined by the most in three weeks as markets in Shanghai reopened after a week-long holiday amid expectations of growing supplies. Copper, zinc, lead, nickel and tin also fell. Aluminum for delivery in three months fell as much as 1.2 percent to $2,143 a metric ton on the...
LME aluminium to consolidate in $2,139-$2,153 range
LME aluminium faces a resistance at $2,153 per tonne, and may consolidate in $2,139-$2,153 range for half or one session before gaining more to $2,169. The resistance is established by the 61.8 percent Fibonacci projection level of an upward wave c which started at the Feb. 7 low of $2,082 and is...
Hindalco expansions on stream by June
Aluminium maker Hindalco Industries will bring on stream its three greenfield projects by the first half of 2013. Analysts, however, expressed concerns that subdued aluminium prices could put pressure on the operating income of the new projects. While the 1.5 million tonne per annum (tpa) Utkal...
Hindalco Q3 updates
Hindalco Industries may post muted growth in December quarter as it is still in the midst of ramping up production at its Hirakkud plant in Orissa, say analysts. According to a CNBC-TV18 poll, the Aditya Birla Group company is expected to witness 10.1%, quarter-on-quarter jump in sales to Rs 6730...
Aluminum Stumbles in the Base Metal Market
The cash price of primary Indian aluminum fell 1.2 percent on Feb. 6, 2013, making it the day’s biggest mover on MetalMiner’s daily pricing service. On the LME, the primary aluminum cash price declined 0.2 percent to $2,074 per metric ton. Also on the LME, the aluminum 3-month price held steady...
Novelis criticizes LME for monthly Aluminum Price Index Drop
The monthly Aluminum registered a value of 98 in February, a decrease of 1 percent from 99 in January. The aluminum price index fell on the back of softer China pricing for primary aluminum and billet and for European semi-finished products. “We continue to have an interesting situation with...
LME aluminum prices closed at USD 2,102/mt on 6th Feb: SMM Morning Review
Risky events in Europe, including the corruption scandal of Spanish prime minister and the rising support for Italian former prime minister Berlusconi fueled market concerns overnight, driving the US dollar index to grow and LME aluminum prices to fall below USD 2,100/mt during the European trading...
LME aluminum prices moved up to the 5-day moving average to close at USD 2,118/mt on 5th Feb: SMM Morning Review
The political issue in Italy and Spain weighed down base metals on Tuesday. However, as the eurozone service PMI for January improved and the IBD consumer confidence index for February also increased, LME aluminum prices moved up to the 5-day moving average during European trading session and...
China's impact on 3 Month LME aluminium prices neutral at best
We expect much of China's new production of aluminium to be absorbed by improving demand in 2013. However, surpluses in the country are likely to remain as inventory levels stay high throughout the year. China is unlikely to release its surpluses into the global market, given the 15% export tax on...
European prices fall big on the week
European 5083 plate finished as the week’s biggest mover on the weekly Aluminum MMI® after dropping 5.5 percent. European 1050 aluminum weakened by 5.3 percent. Korean 3003 coil premium over 1050 sheet traded sideways last week. Korean 5052 coil premium over 1050 sheet prices held steady from the...
LME aluminum should fluctuate between USD 2,100-2,150/mt on 4th Feb: SMM Morning Review
The January manufacturing PMI from Europe and the US rose and beat forecasts, boosting market confidence on economic recovery. The January nonfarm payrolls in the US were disappointing, with the unemployment rate rising slightly, which provides support for the US Federal Reserve to continue its...
Indian Aluminum up at Base Metals market
The cash price of primary Indian aluminum closed as the biggest mover for Jan. 30, 2013. Switching from a downward trend, the metal closed with a 2.2 percent increase. On the LME, the 3-month price of aluminum fell 0.5 percent to $2,035 per metric ton. Also on the LME, the primary aluminum cash...
LME aluminum should move between USD 2,080-2,120/mt on 31st Jan: SMM Morning Review
The economic sentiment in the euro zone rebounded in January. The ADP employment report shows the number of employed people rose significantly in the US in January and was well above forecasts. Besides, market expectations are growing that the US Federal Reserve will continue easing policies. These...
Mill-grade aluminum scrap prices dip
Mill-grade aluminum scrap prices slipped Jan. 28 in step with the London Metal Exchange, with market participants noting limited activity on worsening margins. Prices for 5052 segregated low-copper alloy clips were in a range of 94 to 96 cents per pound, down from 95 to 97 cents Jan. 24, while 3105...
LME aluminum should move between USD 2,050-2,090/mt on 25th Jan: SMM Morning Review
The preliminary manufacturing PMI for January in China, euro zone and the US, released yesterday, all hit a two-year high. The US new weekly jobless claims fell to a five-year low. These figures signal global economic recovery. However, upbeat data also means that existing stimulus policies may end...
LME aluminum should move between USD 2,050-2,090/mt on 24th Jan: SMM Morning Review
The House of Representatives passed a bill to extend the debt ceiling deadline by an additional 3 months through voting on Wednesday. This move eased market apprehension and helped LME aluminum hit a high of USD 2,101.3/mt during the European session. However, uncertainty over debt ceiling issues...
