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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North American primary aluminum shipments totaled 1,143 thousand metric tons in Q2
Shipments of primary aluminum by North American (U.S. and Canada) producers totaled 1,143 thousand metric tonnes (kmt) in the second quarter of 2014, down 6.4 percent from the second quarter 2013 total of 1,221 kmt. Shipments of primary billet were up seven-tenths of one percent year-over-year...
Hongqiao sells shares worth $275.9 million to pay down debt
One of China’s largest aluminium producers, China Hongqiao Group resorted to selling off some of their stocks raising $220 million to pay off some debts and buy some upstream assets. On Thursday, 4th September, the Shandong province based company sold its shares at a rate of HK$6.19 per share which...
Century Aluminum receives “Buy” recommendation
Shares of Century Aluminum have been given a consensus rating of “Buy” by the ten brokerages that are presently covering the stock, American Banking and Market News reports. Two analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The...
Noranda Aluminum drops 5.47% on September 8
Noranda Aluminum Holding (NOR) was one of the Russell 2000's biggest losers for September 8 as the stock slid 5.47% to $4.32, a loss of $0.25 per share. Starting at an opening price of $4.55 a share, the stock traded between $4.30 and $4.58 over the course of the trading day. Volume was 765,416...
Aluminium futures down on overseas trend
Aluminium futures prices fell 0.63 per cent to INR 126.35 per kg today as speculators reduced positions amid a weak trend in base metals at the London Metal Exchange. At the Multi Commodity Exchange, aluminium for delivery in October month contracts lost 80 paise, or 0.63 per cent, to INR 126.35...
China’s high export and low import of aluminium creates a $49.8 billion trade surplus
With the rising exports and a second climb of aluminium in three days, China, the biggest consumer of industrial metals, experienced a healthy trade surplus. According to the Beijing based customs administration, China’s export grew by 9.4% in August when compared to last year, beating the...
Demand for aluminium cable going up: Nexans
More and more pieces of equipment used in the industrial sector could be manufactured using aluminium over copper, if the thoughts of a leading French cable producer are anything to go by. In fact, Nexans has acknowledged from its enquires that demand for aluminium cable has increased recently,...
Aluminium up by 0.2% on global trends
Aluminium prices were up by 0.24% in futures trade today as speculators created positions, tracking a firming trend in the global markets. Besides, increased demand at domestic spot markets also influenced prices. At the Multi Commodity Exchange, aluminium for delivery in current month rose by 30...
Century Aluminum upgraded to overweight by Morgan Stanley (CENX)
Morgan Stanley upgraded shares of Century Aluminum from an equal weight rating to an overweight rating in a research report sent to investors on Tuesday morning. The firm currently has $33.00 price target on the stock. “We are upgrading CENX to Overweight and introducing our PT at $33 (up 106% vs....
Partial closure of Xinfa smelter pushes up Chinese domestic aluminium by 4%
A Chinese smelter experiences partial closure due to technical faults which results in hike in the domestic price of the metal by nearly 4% this week as investors are desperate to compensate the deficit in supply. A unit of Shandong Xinfa Aluminium Electricity Group went offline suddenly due to a...
Aluminum leads metals higher on stimulus bets for China, Europe
Aluminum led most industrial metals higher as worse-than-expected manufacturing data in China and the euro area increased speculation of more economic stimulus. Aluminum on the London Metal Exchange rose as much as 0.6 percent. China’s official purchasing managers’ index for August declined for the...
China’s Aluminum imports down 31.32% YoY in July
China imported 14,100 mt of primary aluminum in July, down 31.32% YoY and 4.08% MoM, according to China Customs. The SHFE/LME aluminum price ratio kept falling and dropped below 7.0 at the end of July, adding to import costs. In addition, aluminum premiums overseas are rising steadily, also...
The tight supply pushes aluminium towards 18-month high
According to Reuters reports, the aluminium prices have once again reached close to the 18-month high on Tuesday, which has pushed up the Shanghai futures by more than 2%. The aluminium rate has edged quite close to the peak it had reached the previous week, the highest it had been since February...
China’s aluminum semis exports up 14.3% MoM in July
China exported 320,000 mt of aluminum semis in July, up 15.1% YoY and 14.3% MoM, China Customs data revealed. Extrusion exports increased 34.92% YoY and 4.32% MoM to 72,500 mt in July. Foil exports also grew 15.81% YoY and 12.73% MoM to 78,800 mt. Exports of plate/sheet and strip totaled 151,700...
LME aluminium due for a good correction
LME aluminium is due for a good correction as a five-wave cycle from the May 21 low of $1,754.75 may peak around a resistance at $2,129. The resistance is at the 161.8 percent Fibonacci projection level of an upward wave C that developed from $1,754.75. Aluminium has approached this level but...
Hindalco and Sesa Sterlite seeking new market for their growing aluminium output
By the end of this fiscal year, India’s aluminium production capacity is going to rise to about 4.36 mt, a huge leap from 1.71 mt in 2012. The local demand however is less than half that number so the big guns in the industry, like Sesa Sterlite Ltd and Hindalco Industries Ltd, who have grown...
Aluminium futures gain 1.19% on overseas cues
Aluminium prices rose 1.19 per cent to INR 127.70 per kg in the evening session of futures trade today as speculators enlarged positions amid positive cues from overseas markets. Besides, increased demand from consuming industries in the spot market supported the uptrend. There was no trading in...
Judge tosses aluminium antitrust suit; consumers failed to prove conspiracy
A New York judge on Friday dismissed a class action lawsuit that accused major banks and a trading house of fixing the price of aluminium by ruling that market inefficiencies were the result of rational profit maximization and not illegal collusion. Aluminium consumers alleged that Goldman Sachs,...
