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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Press Metal a direct beneficiary of rising aluminium prices & premiums
Press Metal Bhd (Press Metal) will be a direct beneficiary of rising aluminium prices and premiums. AmResearch Sdn Bhd (AmResearch) noted that aluminium prices have reached a 17-month high due to low inventories, high demand and the cut in global capacity. On Monday, the London Metal Exchange (LME)...
Aluminum in bull market as investors lured by shortage outlook.
Aluminum entered a bull market in London and traded near the highest in 16 months on speculation demand will exceed supply for the metal used in everything from cars to packaging. Stockpiles monitored by the London Metal Exchange slumped 9.4 percent this year to the lowest in 22 months. Producers...
Aluminum contango sinks to lowest in 18 months on dwindling stocks
Aluminum's contango has fallen to 18-month lows amid dwindling exchange stocks, the latest in a recent series of bouts of volatility that have reignited a years-long debate about how tight the market really is. The cash price on the London Metal Exchange was at a discount of $16.75 per tonne to...
Hindalco plans share sale to raise INR 5,000 crore
Hindalco Industries Limited, the metals flagship company of the Aditya Birla Group and a global leader in aluminium and copper, on Friday announced plans to raise up to INR 5,000 crore ($829.5 million) through sale of shares to institutions or through other options. Hindalco Industries Ltd today...
LME aluminium to approach $1,999 again
LME aluminium is expected to approach a resistance at $1,999 per tonne again, to complete a wave c. This is the third wave of a three-wave cycle that developed from the June 12 low of $1,836, it may travel the same distance as the preceding wave a, to arrive at $1,999, a 100 percent projection...
LME aluminium to gain more to $1,999
LME aluminium is expected to rise to $1,999 per tonne, as it has broken above a resistance at $1,961. The resistance was provided by the 76.4 percent Fibonacci projection level of an upward wave c that developed from the June 12 low of $1,836. The next resistance will be at 1,999, the 100 percent...
Trafigura targets $8 Bn India metals market with online store.
Switzerland-based Trafigura has launched an online store in India to sell aluminium, copper and other metals, seeking a slice of the $8 billion market and becoming the first big commodities trader to cater to hordes of small manufacturers dotting the country. Trafigura, co-founded by French...
SMM expects little impact on near-term China aluminum supply from production resumptions
Some aluminum producers in Guizhou, Gansu, Henan and Guangxi are now restarting production after local governments introduced stimulus measures, but China’s aluminum market is not expected to suffer immediate impact from those resumptions in the short term, Shanghai Metals Market foresees. At...
Smelter capacity cuts surprise on the upside
ALCOA’S second quarter earnings issued overnight surprised on the upside and contained a glimmer of optimism for the long-beleaguered upstream segments of the aluminium industry. The turnaround in the performance of Alcoa’s primary metals business, which produced a $US97 million profit in the...
Aluminium futures up 0.30% on pick-up in demand
Aluminium futures edged higher by 0.30 per cent to INR 115.25 per kg today as speculators enlarged positions amid pick-up in demand at spot markets. At the Multi Commodity Exchange, aluminium for delivery in July rose 35 paise, or 0.30 per cent, to INR 115.25 per kg, with a business turnover of 259...
Rusal creditors vote to restructure aluminum producer’s debt
During a hearing at the High Court of Justice of England and Wales, the majority of Rusal creditors voted for a scheme to refinance the aluminum giant’s $5.15 billion loans, the company said in a statement. A total of 94% of Rusal’s creditors voted for the scheme at the court, which was authorized...
Century Aluminum shares climbing higher, up 1.9%
One of today's notable stocks on the rise is Century Aluminum, up 1.9% to $16.82. The S&P is currently trading 0.3% higher to 1,970 and the Dow Jones Industrial Average is trading 0.2% higher to 16,944. Based on a current price of $16.82, Century Aluminum is currently 7.1% above its average...
Chinese aluminum production moving into balance
Where government controls and environmental pressures have failed, good old market economics may finally be picking up sway. Of course, it isn’t quite that simple. Some of the credit must go to federal pressure on state governments to reign in subsidies and support, but it would seem if a Reuters...
Chinese aluminum surplus likely to contract in 2014
The expected Chinese aluminum surplus in 2014 is likely to get reduced, according to most recent analysis. The robust demand from transport sector and the closure of more facilities may reduce the aluminum surplus from earlier projected 1 million tonnes to less than 500,000 tonnes. According to...
Hindalco gains after Alcoa's earnings beat
Shares of Hindalco Industries Ltd are trading sharply higher after U.S. rival Alcoa Inc reported better-than-expected earnings, several traders said. Alcoa also increased its 2014 growth estimate for the North America commercial transportation market. Shares of Hindalco, India's leading aluminium...
LME aluminium to retrace to $1,898
A bearish target at $1,898 per tonne remains unchanged for LME aluminium as the correction from the July 3 high of $1,938.50 has not completed. The correction was triggered by resistance at $1,931, the 76.4 percent Fibonacci projection level of an upward wave C that developed from the May 21 low of...
Nonferrous Metal Recycling industry revenue to grow to $19 bn in 2014
Revenue for the Nonferrous Metal Recycling industry is forecast to grow strongly over the five years to 2014, rising at an annualized rate of 12.1% to $19.0 billion, said IBISWorld Industry. “As research continues to demonstrate the energy efficiencies and cost benefits of using recycled metals in...
Constellium NV’s “Buy” Rating Reaffirmed at Deutsche Bank
Deutsche Bank reaffirmed their buy rating on shares of Constellium NV in a report released on Thursday. Deutsche Bank currently has a $36.00 price objective on the stock, up from their previous price objective of $35.00. Deutsche Bank has also taken action a number of other stocks recently. The...
