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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Non-Ferrous Minerals and Metals Conference projects positive outlook for India despite bearish market situation
The International Conference on Non-Ferrous Minerals and Metals; organized by Corporate Monitor, which has earned its reputation as a forum for the domestic and international Non-Ferrous industry players as well as industry experts, just concluded its 19th session on July 10, 2015 in Bhubaneswar....
Saudi's Ma'aden Q2 net profit falls 27%
Saudi Arabian Mining Co (Ma'aden) posted a 27 percent fall in second-quarter net profit on Tuesday, missing analysts' forecasts as higher sales by the Gulf's largest miner could not make up for lower prices for its products. Net profit for the three months to June 30 was 270 million riyals ($72...
Rapid expansions aggravate China aluminum supply glut
Aluminum oversupply in China is worsening as new capacity expands rapidly, Shanghai Metals Market understands. The country’s new capacity is expected to surpass 5 million-tpy this year, most of which enjoy low costs, SMM statistics showed. Capacity cuts, including capacity closed for maintenance,...
Bearish aluminum market piles pressure on world’s biggest smelters
The world’s biggest aluminum makers will be under even more pressure to make deeper production cuts and stave off a price slump that saw the metal trade near its lowest level in six years on Wednesday. China, which accounts for half of the world’s aluminum output, is on pace to export record...
Hindalco said to seek refinancing of $2.4 billion debt
Hindalco Industries Ltd., the Indian aluminum producer backed by billionaire Kumar Mangalam Birla, is seeking to refinance about Rs15,000 crore ($2.4 billion) of debt, people familiar with the matter said. The Mumbai-based company is discussing with banks about extending the maturity of the...
Press Metal's capacity expansion likely to translate into superior earnings growth for FY16
Press Metal Bhd’s (Press Metal) capacity expansion of its Samalaju plant in Bintulu has been viewed positively by analysts as the expansion will likely translate into superior earnings growth in the financial year 2016 (FY16). Following a visit to the plant, Kenanga Investment Bank Bhd’s research...
NZAS 2014 Sustainable Development Report shows an increase in aluminium production despite volatile market
The power supply contract deadline that could see New Zealand Aluminium Smelters close is looming but a report from the smelter shows it was still investing capital and upping production. Despite this, industry analysts are still not confident of the outcome as aluminium prices had fallen from more...
Aluminium futures slide on weak demand
Aluminium prices eased by 0.32 per cent to INR 108.90 per kg in futures trade today as speculators reduced positions amid weak demand at the spot market. At the Multi Commodity Exchange, aluminium for delivery in July traded lower by 35 paise, or 0.32 per cent, to INR 108.90 per kg in a business...
Aluminium edges higher on hopes for China demand, Greek deal
Base metals edged higher on Wednesday on hopes that demand would recover in China and that Greece would eventually agree a bailout with creditors. There was also some buying by investors who took profits from short positions over the past two days when some metals hit multi-year lows and others who...
Aluminium market under long liquidation, open interest drops 8.73%
Aluminium settled down -0.47% at INR 105.65 on the possibility of a Grexit increased, allowing market panic to grow. Also pressure seen after China imported 6,738 mt of primary aluminum in May, down 71.98% YoY, customs data showed. Also pressure seen after last ditch Greek debt negotiations broke...
Chinese imports of primary aluminium ingot likely to rise in coming months
Chinese imports of primary aluminium ingot are likely to rise in coming months after the price of the metal fell on the global market, prompting end-users to buy, industry and trading sources said on Thursday. The weak London Metal Exchange (LME) price is opening a rare arbitrage opportunity for...
Aluminium witness up 1.27% at 107.55 , trading range 105.6-109.2
Aluminium settled up 1.27% at 107.55 rallied after improved manufacturing data from top consumer China bolstered sentiment, though gains are expected to be capped by seasonal demand weakness ahead and the strength of the dollar. But still sentiments remain weak as concern prevails in the market in...
Missouri recycler suspends metals collection due to low aluminum prices
Columbia, Missouri-based Civic Recycling stopped taking metal from the public last week, and will keep it on hold for at least until the week's close. The company buys nonferrous metals from the public, and mostly handles aluminum. Civic Recycling employees said the center’s temporary shutdown was...
Aluminium glut to continue as smelters get lifeline of lower costs
The aluminium market is unlikely to see enough producer cutbacks to reduce oversupply in coming months as currency benefits and cheaper inputs have allowed most smelters to stay out of the red. That means the price of the lightweight metal used in transport and packaging may be drawn still lower...
SHFE aluminum to rebound next week after hitting over three-year low
August aluminum on the SHFE is expected to rebound to 12,600-12,750 yuan per tonne next week, Shanghai Metals Market foresees. The contract is in oversold territory, presaging a rally on the horizon, SMM’s research team said. LME aluminum might face correction following steep fall this past week,...
North American aluminium production down 0.6% in May
The Aluminum Association, in cooperation with the Aluminum Association of Canada, reported primary aluminum production in North America (U.S. and Canada) was at an annual rate of 4,489,865 tonnes during May 2015, down 26,621 tpy (-0.6%) from the previous month's rate of 4,516,486 tonnes. The annual...
South32 facing earnings slide
South32 faces the spectre of a significant earnings slump, as the young company ends its first month on the market in the midst of growing pains. The commodities that looked so promising six months ago now face almighty headwinds, prompting several analysts to warn that earnings will slide by more...
Aluminium futures marginally up on global cues, spot demand
Aluminium futures traded a shade higher at INR 106.90 per kg today as participants strengthened their positions, supported by an upward trend overseas. Further, a rising demand at the domestic spot market also influenced metal prices. At the Multi Commodity Exchange, aluminium for delivery in June...
