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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ARABAL 2012 kicks off with a virtual tour of LME and a physical tour of Qatalum plant
The 16th ARABAL Conference has kicked off at the Grand Hyatt, and taken the delegates from around the world on two separate tours: a virtual tour through a storied corner of the City of London – the London Metal Exchange – as well as a physical tour of the Qatalum plant at Mesaieed Industrial City....
3-Month Price of Aluminum Falls 1.7 pct
Daily Aluminum Prices The 3-month price of aluminum fell 1.7 percent on Nov. 16, 2012 to $1,953 per metric ton on the LME, making it the day's biggest mover on MetalMiner's aluminum price index. The LME primary aluminum cash price changed direction with a 1.7 percent drop, after two days of...
LME aluminum should move between USD 1,950-1,980/mt on 21st Nov: SMM Morning Review
Moody’s downgraded France’s sovereign debt rating on Tuesday, offsetting optimism brought by the upbeat existing home sales in the US. The EU finance ministers meeting was discussing Greece’s application for 15 billion euros worth of bailout funds during the European session, turning investors...
LME aluminum should move between USD 1,950-1,985/mt on 20th Nov: SMM Morning Review
Market was digesting optimism during the European session brought by the initial agreement reached on the US fiscal cliff. The US existing home sales grew for 16 straight months in October, boosting market confidence on the US economic recovery. LME aluminum was mired during the early European...
LME Price Sees Biggest Increase
Closing at $1,965 per metric ton on the LME, a 3.4 percent increase made the cash price of primary aluminum the biggest mover on the weekly Aluminum MMI®. Also on the LME, the 3-month price of aluminum rose 3.1 percent last week to $1,987 per metric ton. Last week, the cash price of primary Indian...
LME aluminium stocks set to hit record 5 mt
Aluminium stocks on the London Metal Exchange (LME) are poised to hit another all-time record above five million tonnes (mt) as soon as next week in a market swamped by a structural surplus. Stocks are also likely to keep touching fresh records throughout next year as no end is in sight to chronic...
LME aluminum should move between USD 1,930-1,970/mt on 19th Nov: SMM Morning Review
The US industrial production slid by 0.4% in October from last month, falling short of expectations. Along with the fiscal cliff in the US, LME aluminum sank to a low of USD 1,930/mt during the European session. Later, President Obama held talks with the Republican and Democratic Party and reached...
Aluminium down in futures trade
Aluminium futures prices fell by 0.19 per cent to Rs 107.30 per kg today as speculators trimmed positions amid a weak trend in metal at the London Metal Exchange. At the Multi Commodity Exchange, aluminium for delivery in November fell by 20 paise, or 0.19 per cent, to Rs 107.30 per kg, with a...
Unwrought Aluminium Imports In China Decline In October
Unwrought Aluminium imports declined on a monthly basis in October 2012 as per latest data from China General Administration of Customs. China unwrought Aluminium and product imports declined by 1.1 percent to 101174 tonnes in October from 102320 tonnes in September this year. The yearly imports...
LME aluminum should move between USD 1,950-2,000/mt on 15th Nov: SMM Morning Review
Market was absorbing positive news on the State Reserve Bureau (SRB)’s purchase of aluminum ingot, which has been postponed to Thursday. LME aluminum jumped to a high of USD 2,007/mt during the European session. However, the industrial output in the euro zone slid steeply in September from August,...
EU Plans to Discuss Metal Premiums and LME Warehouse ‘Issue’
The European Commission will discuss aluminum premiums and “difficulties” in getting metal from warehouses monitored by the London Metal Exchange, at a time when consumers pay record fees to obtain metal. “We can confirm that industry, especially aluminum industry, has brought to our attention the...
LME aluminum should move between USD 1,940-1,990/mt on 14th Nov: SMM Morning Review
Greece raised 4.062 billion euros in short-term bond sale, helping the euro stabilize at the lower end. Still, the debt crisis in Greece tends to deteriorate, capping gains of commodities overnight. LME aluminum was weak in early European session, but touched a high of USD 1,989/mt as positive news...
Rusal’s Nine-Month Profit Falls 91%
Rusal, the world's biggest aluminum producer, posted a 91 percent fall in its nine-month IFRS net profit to $143 million as a result of falling prices, the company said in its earnings statement on Monday. The figure was below a consensus forecast of analysts polled by RIA Novosti who expected the...
LME aluminum should move between USD 1,880-1,920/mt on 12th Nov: SMM Morning Review
China’s economic data for October showed that domestic inflationary pressure eased and PPI rebounded slightly MoM, but fell sharply YoY, curbing gains of LME aluminum prices during Asian session to some extent. The US dollar index jumped above 81 during the European session due to concerns over the...
LME aluminum should move between USD 1,900-1,930/mt on 9th Nov: SMM Morning Review
Investors are expecting more economic stimulus measures from the 18th CPC National Congress opened yesterday, helping ease concerns over the US fiscal cliff and European debt crisis. The US dollar index climbed to 81 during the European session, but LME aluminum was resilient to declines and only...
Aluminum consumers are buying metal on a short-term basis
Aluminum consumers are buying metal on a short-term basis rather than for later delivery, according to Sucden Financial Ltd., one of the 12 companies on the floor of the London Metal Exchange. “There is little sign of forward bookings,” said Steve Hardcastle, head of client services for industrial...
LME aluminum should move between USD 1,900-1,930/mt on 8th Nov: SMM Morning Review
President Barack Obama has been re-elected to a second term, causing the US dollar index to plunge. Market focus later shifted to the US “fiscal cliff” for 2013 and Greece austerity vote. Rumor has it that the EU will revise down its economic forecast for next year, dampening sentiment. In...
Aluminium futures gain marginally on speculator action, global cues
Aluminium futures prices rose by 0.29 per cent to Rs 104.60 per kg today as speculators enlarged positions, supported by a firming trend in base metals in the global markets. At the Multi Commodity Exchange, aluminium for delivery in November rose by 30 paise, or 0.29 per cent, to Rs 104.60 per kg,...
