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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India Aluminum Cash Price, LME Prices Back Up
On Nov. 2, 2012, the day’s biggest mover on MetalMiner’s aluminum price index was the Indian aluminum cash price, which saw a 2.6 percent increase. The India price rise comes after it fell for the two previous days. After a 1.4 percent increase, the cash price of primary aluminum finished the day...
Fall in metal prices takes toll on Bahrain's Alba
Aluminium Bahrain (Alba) has reported third-quarter losses on increased natural gas prices and falling metal prices. Net losses stood at US$35 million (Dh128.5m), compared with a net profit of $214m a year earlier. Prices for the metal declined by 24 per cent to $1,922 per tonne in the quarter,...
LME aluminum should move between USD 1,900-1,930/mt on 6th Nov : SMM Morning Review
Wait-and-see sentiment dominated the market ahead of the final result of the US presidential election. Greece is conducting another round of expenditure cuts to guarantee next batch of bailout fund. Greece is slipping to the verge of default, causing market risk aversion to grow and pushing the US...
LME aluminium targets $1,905
LME aluminium is expected to fall to $1,905 per tonne, as a rebound from the Oct. 29 low of 1,887 has completed. The rebound has been driven by three waves labelled as a, b, c, signalling the preceding medium-term downtrend remains unchanged. A Fibonacci retracement on the rise from $1,887 to...
ALBA 3rd Quarter sales reach $457 million
The Bahrain Aluminum BSC Company (ALBA) has announced its sales during the 3rd Quarter (3Q) of this year have reached USD 457 million, meanwhile its profits before deduction of interest, taxation, depreciation and bad debts has reached USD 35 million as a result of decreased prices of aluminum in...
LME aluminum should move between USD 1,900-1,940/mt on 5th Nov : SMM Morning Review
The final reading of the euro zone’s manufacturing PMI was 45.4 in October, pointing to contraction for 15 straight months. The US nonfarm payrolls surged by 171,000 in October, while unemployment rate climbed slightly to 7.9%, briefly lifting commodities. However, forecast-beating nonfarm payrolls...
3-month price of LME aluminum fell 1.2 percent
Aluminum Prices Still Sagging Too With a decline of 1.4 percent on the LME to $1,873 per metric ton on Oct. 30, 2012, the aluminum cash price recorded the biggest decline of the day on the price index. On the LME, the 3-month price of aluminum fell 1.2 percent to $1,901 per metric ton. The cash...
LME aluminum to move between USD 1,900-1,930/mt on 1st Nov: SMM Morning Review
LME aluminum hovered above the 5-day moving average after opening at USD 1,920.8/mt during the Asian session. However, LME aluminum retreated from the 5-day moving average to a low of USD 1,904/mt during the European session, down USD 14.8/mt or 0.77%, as higher-than-expected unemployment rate in...
LME aluminium expected to rebound to $1,947
LME aluminium is poised to rebound more to $1,947, following the completion of a five-wave cycle. The cycle developed from the Oct. 2 high of $2,140 and ended at $1,887, and a Fibonacci retracement analysis reveals an immediate target at $1,947, the 23.6 percent level. The rebound may eventually...
Copper, aluminium recover from lows but Hurricane Sandy hurts liquidity
Base metals were firmer in premarket trading on the LME on Tuesday but volumes remain thin while the US East Coast struggles with the impact of Hurricane Sandy. Copper and aluminium recovered from near-two-month lows set in the previous session, with analysts ascribing the recovery to dip buying....
Hindalco, Sterlite under pressure due to lower aluminium price
Hindalco Industries and Sterlite Industries, two leading players operating in the non-ferrous metal segment are witnessing pressure on margins due to lower aluminium prices on London Metal Exchange and also due to lower profit margins on refining of copper. Hindalco Industries, Aditya Birla group’s...
LME aluminum should move between USD 1,890-1,925/mt on 31st Oct: SMM Morning Review
The US financial markets were closed on Monday and Tuesday due to the Hurricane Sandy. The pullback of bond yields in Spain and Italy eased market worries. Thin trading sent the US dollar index below 80, helping base metals rebound during the European session. LME aluminum regained USD 1,900/mt and...
Noranda's bauxite profit squeezed
Noranda Jamaica Bauxite Partners saw its third-quarter profit plunge on near historically low aluminium prices. The subsidiary of US-based Noranda Aluminum Holdings posted a profit of US$0.3 million ($27 million) for the three months to September 30, compared to US$6.8 million in the corresponding...
LME aluminum should move between USD 1,880-1,910/mt on 30th Oct: SMM Morning Review
Spiraling bond yields in Spain and Italy aggravated borrowing costs and turned investors to the safety of the US dollar. The US dollar index was firm above 80 overnight as a result. The US economic data was mixed. Trading was even thinner as the US stocks market was closed on Monday and Tuesday...
LME aluminum should move between USD 1,915-1,945/mt on 26th Oct: SMM Morning Review
The US durable goods orders for September jumped more than expected by 9.9% on a monthly basis, the biggest growth since 2010, easing bearish sentiment. However, the US dollar index bounced back to 80 after hitting bottom, weakening upward momentum of commodities. LME aluminum was trapped within...
LME Aluminum Price Switches Direction on Daily Index
The cash price of primary aluminum fell 2.2 percent on Oct. 23, 2012 to $1,932 per metric ton on the LME, making it the day’s biggest mover on our price index. The aluminum 3-month price closed at $1,962 per metric ton, a 1.9 percent drop. Meanwhile, the Indian aluminum cash price weakened by 1.1...
Noranda Aluminum posts $3.8M 3Q earnings
Noranda Aluminum Holding Corp.'s earnings dropped sharply in the third quarter over the previous year, though the company beat analyst expectations. The company (NYSE: NOR) reported earnings of $3.8 million on revenue of $336 million for the quarter ended Sept. 30. Those numbers were far higher, at...
LME aluminum should move between USD 1,920-1,950/mt: SMM Morning Review
HSBC’s flash China manufacturing PMI for October rose from September, pointing to contraction for 12 consecutive months, but expectations remain on rebound of the Chinese economy. However, preliminary manufacturing PMI in the euro zone for October continued to shrink, weighing down data in Germany...
