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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Scrap yards enduring falling aluminum prices
Central Wisconsin scrap yards are seeing a dramatic drop in aluminum prices. An oversupply in the market is forcing them to lower the amount they can pay people recycling cans. Yaeger Auto Salvage in Weston is now offering 41 cents a pound, down from its usual 50 or 55 cents. The owner Jeff Yaeger...
EAFA releases Auminium foil statistics for first quarter 2015
Alufoil demand starts 2015 weaker, but signs of recovery emerging Deliveries of aluminium foil products fell by 2.5% to 218,500 tonnes in the first three months of 2015 compared with the first quarter of 2014 (224,000 tonnes). But clear signs of stronger demand emerged in February and March,...
Goldman Sachs predicts a grim future for aluminium
Goldman Sachs Group predicts a not so rosy future for aluminium as aluminium prices are expected to fall along with production cuts after record production levels from the world’s biggest producer. China too continues to add to the world’s aluminium production making surplus a major concern. The...
Chinese exports damp aluminium rally
The recent rally in the price of aluminium has lost momentum as Chinese exports of the lightweight metal continue to hit the market. Aluminum for three-month delivery on the London Metal Exchange has fallen 5.7 per cent since it almost reached $2,000 a tonne at the start of the month. On Friday it...
Stronger dollar steers Romanian aluminum producer Alro back to profit
Romanian aluminum producer Alro Slatina, part of international group Vimetco, posted an adjusted net profit of some EUR 5.17 million in the first quarter of 2015, compared to an adjusted loss of EUR 10 million in the same period of last year. The company’s turnover went up by 20.5%, in local...
Chinese aluminum smelters suffer, but processors heap profit
Many aluminum smelters in China are suffering losses, while aluminum processors make big money, a local source reported. Chalco, China’s top aluminum producer, swung into its largest-ever net loss 16.2 billion yuan ($2.6 billion) in 2014. Yunnan Aluminum Co., another large aluminum smelter, also...
Coca-Cola wants more done on aluminum waits as costs run high
The London Metal Exchange hasn’t done enough to reduce the time it takes to withdraw aluminum from warehouses, said William Hovis, who helps oversee Coca-Cola Co.’s purchases of the metal. Hovis, chief procurement officer at the company’s bottling investment group, echoed concerns from other...
Rusal sees aluminum market deficit erased on Chinese exports
United Co. Rusal, the world’s largest aluminum producer, said increasing Chinese exports may eliminate a market deficit of the metal this year. “Rusal doesn’t see the aluminum market in deficit this year after April,” Chief Executive Officer Vladislav Soloviev said to reporters on Wednesday, after...
Rio Tinto Alcan sees possible deficit in 2015 in aluminium market
May 12 Rio Tinto Alcan, the mining giant's aluminium business, expects a global deficit in the aluminum market in 2015 despite good figures in the first quarter, the company's chief executive said on Tuesday. Speaking at the CRU Aluminium industry conference in Dubai CEO Alf Barios said he expected...
Noranda Aluminum Holding Corporation announces secondary offering of common stock by Apollo
Noranda Aluminum Holding Corporation announced today the commencement of a secondary public offering of 22,840,000 shares of the Company's common stock by certain funds affiliated with Apollo Global Management, LLC (the Selling Stockholders). The Company itself is not selling any shares and will...
Analysts predict profitable start for Hulamin’s new recycling plant
The growing demand from Nampak follows the conversion of beverage can body stock in South Africa from steel to aluminium. “In the rest of the world aluminium makes up 90% of all beverage packaging, so we appreciate that Nampak has decided to convert their plants. While the conversion has taken...
After Wall Street Banks exit controversial aluminum trade, prices return to normal
For the last five years, every beer guzzler in America paid a tiny surcharge to some of the nation’s largest banks. According to manufacturers, practices at warehouses owned by Goldman Sachs and other financial institutions inflated the price of aluminum used in beer cans and thousands of other...
Alumina sees a jump in earnings for Q1 2015
Alumina says average earnings per tonne jumped at its AWAC joint venture during the first quarter of the year amid "healthy demand" and lower costs, while the longer-term outlook is likely to benefit from a global supply squeeze. Chief executive Peter Wasow said average alumina earnings before...
U.S. aluminium demand up in the beginning of 2015
Preliminary estimates indicate that aluminum demand in the United States and Canada (shipments by domestic producers plus imports) totaled an estimated 4,133 million pounds during the first two months of 2015, up 2.9 percent over a year ago. Demand for semi-fabricated (mill) products totaled 2,900...
LME aluminium to fall to $1,892
LME aluminium may fall to a support at $1,892 per tonne, as it has peaked around a resistance at $1,930. The resistance and the support are identified respectively as the 161.8 percent and the 123.6 percent Fibonacci projection levels of an upward wave C, the third wave of a three-wave cycle that...
China’s aluminum giant is a lightweight stock
Investors could be forgiven for thinking Aluminum Corp of China’s return to profitability, fatter margins and surging share price makes the lightweight metal producer a stock to own but that may not be the case. The company, better known as Chalco, may be a giant of China’s aluminum industry but...
Three-month aluminium on the London Metal Exchange improves
Aluminium has surged to a two-and-a-half-month high, pushed up by speculative buying, but some analysts doubt how long the rally can last given expectations of high Chinese exports. THREE-MONTH aluminium on the London Metal Exchange ended up 2.1 per cent at $US1,874 a tonne, its highest since early...
Rusal plays down concerns of Chinese aluminium flooding market
Concerns about Chinese aluminium flooding the global market are not justified, according to the deputy chief executive of United Company Rusal , the world's top aluminium producer. Worries about oversupply in the aluminium market have put pressure on prices of the metal use in packaging and...
