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...
Aluminium tariffs, not Trump’s alcohol ban, are the bigger threat to BC brewers
The escalating US-Canada trade conflict is putting pressure on the US alcohol industry from two directions. The BC wine and beer industry is facing fresh uncertainty as the US President Donald Trump proposed to block most Canadian alcoholic beverage imports from September 29, 2026. While British...
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Global slump in bauxite demand leads to stockpile rise to 70,000 tonnes
In the face of declining demand for bauxite, worldwide, a total quantity of 70,000 tonnes of the ore valued at about $1.4 million is reported to have been stockpiled at the Aurum Exploration (Fiji) Ltd in Nawailevu, Bua. Mr Derek Qiu, executive Aurum Exploration said about half of the mining...
China primary aluminum imports up 5.97% MoM in June
China imported 7,100 mt of primary aluminum in June, down 51.63% YoY, but up 5.97% MoM, customs data showed. Imports totaled 53,800 mt in H1, plunging 76.31% YoY. Aluminum premiums in Japan fell to a six-year low of around USD 100/mt for Q3 shipment. The SHFE/LME aluminum price ratio climbed to...
Century Aluminum permanently closes Ravenswood, WV plant
Ending a years-long battle with public officials, former employees and utility companies, Century Aluminum announced at 8 p.m. July 27 it will permanently close its Ravenswood, WV plant, effective immediately. The Ravenswood smelter had been idled since February 2009, putting 650 employees out of...
NALCO eyeing new oversees market to offset falling aluminium prices
With domestic and global market for metal witnessing sluggishness, National Aluminium Company Limited (NALCO), a Navaratna central public sector unit, is looking at exploring virgin markets for its products on foreign soil, besides attempting to increase its footprint in mining sector. “It is...
Chinese spot alumina prices rangebound as market awaits new direction
Chinese spot alumina prices were rangebound this week as market participants awaited clearer direction amid continued weak domestic aluminum prices and market volatility. Platts ex-works Henan alumina spot price closed the week Friday at a stable Yuan 2,360/mt ($386) for 70:30 cash and credit...
Industrial metals decline due to Chinese export concerns
Industrial metals from copper to zinc fell again on Wednesday, buffeted by a strengthening US dollar and nagging concerns about China. Aluminium, a lightweight metal used in everything from aeroplane bodies to drinks cans, was among the fallers. It dropped to a fresh six-year low after the Ministry...
Primary aluminum market in deficit during Jan - May 2015, reveals WBMS
The latest report published by the World Bureau of Metal Statistics (WBMS) indicates that global primary aluminum market has recorded a deficit during the initial five months of the year. As per the report, the market turned into a deficit of 261,000 tons when matched with the deficit of 723,000...
China's aluminium exports leading to unfair competition- observes Hydro
China’s aluminum exports that are compounding a glut of the metal are unfair competition to overseas producers, according to Norsk Hydro ASA. China accounts for half of the world’s aluminum supply and has been producing record amounts of the metal, which it then ships out in the form of...
Global aluminum output, excluding China, declined in June
The most recent statistics released by the International Aluminum Institute (IAI) indicates that the global aluminum output during the month of June this year, excluding China, dropped when compared with the prior month. As per IAI data, the total aluminum production during June this year totaled...
Aluminum prices plummet further as China's production surge adds to Glut
Aluminum slid to the lowest in almost two weeks as increasing supply from China adds to a global glut in the metal. Chinese exports of unwrought aluminum and products swelled 35 percent in the first half from a year earlier to 2.5 million metric ons, according to customs data. While demand in the...
Norsk Hydro Second Quarter 2015 Results: upstream down on weaker prices but downstream up
Hydro's underlying earnings before financial items and tax declined to NOK 2,667 million in the second quarter from NOK 3,208 million in the first quarter of 2015, mainly reflecting lower aluminium prices and premiums. Highlight: • Underlying EBIT of NOK 2,667 million • Record downstream results on...
Aluminium down 0.3% on weak global cues, low spot demand
Tracking a weak trend in the base metals pack at the London Metal Exchange (LME) and low demand at spot market, aluminium prices eased by 0.33 per cent to INR 105.55 per kg in futures trade today as speculators reduced positions. In futures trading at the Multi Commodity Exchange, aluminium for...
LME reaches settlement on U.S. aluminium class-action cases
Hong Kong Exchanges & Clearing Ltd (HKEx) No money was paid by either side in arriving at the settlement, the HKEx-owned LME said in a statement. Under the settlement announced by HKEx on Sunday, the plaintiffs agreed to drop the LME from appeals against a U.S. court’s decision last August...
US Shredded Scrap prices plummet to $266 a long ton; Aluminum scrap prices stay stable
United States shredded scrap prices plummeted in the week ended July 10, while US aluminum scrap prices on Scrap Register Price Index stayed stable. According to TSI, US Midwest shredded index fell $16 a long ton to $266 a long ton (delivered mill) the week. As was reported in “buy-week” last...
Aluminum output jumps to record in china swelling world glut
China’s aluminum output advanced to a record, underscoring the threat to global producers as low-cost capacity expands in the world’s biggest supplier. The country made 2.8 million metric tons of aluminum in June, 18 percent more than a year earlier, National Bureau of Statistics data show....
Fresh selling seen in Aluminium, open interest up 6.24%
Aluminium settled down -0.7% at 106.25 as major economic indicators released yesterday fell short of market expectations. China's exports of unwrought aluminum and aluminum semis were 450,000 mt in June, with YTD exports from January to June at 2510,000 mt, up 35.2 % YoY. Aluminium stocks held at...
Aluminium rises by 0.4% on global cues
Taking positive cues from global market and strong demand at domestic spot markets, aluminium prices edged up 0.38% to INR 106.65 per kg in futures trade today as participants enlarged positions. Marketmen said apart from increased domestic demand, a firming global trend as Chinese economic data...
Aluminum Prices face downward pressure from poor market fundamentals
Aluminum prices, though rebounding from six-year low thanks to China’s efforts to stabilize plummeting stock market, still face downward pressure from poor market fundamentals, enanchu.com predicts. Expansions of low-cost new capacity are exacerbating already oversupplied market. For example,...
