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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CHALIECO plans bonds as yield premiums drop to month’s low
China Aluminum International Engineering Corp. (CHALIECO) is planning to sale dollar perpetual bonds as the interest premium investors demand for U.S. currency debt in Asia drops to minimum within a month. CHALIECO, a unit of CHINALCO has engaged Morgan Stanley and CLSA for the task who will...
Rio sees a positive outlook for Tiwai Point smelter
Rio Tinto, International mining giant, the ultimate owner of the Tiwai Pt smelter near Bluff, said the outlook for aluminium was positive despite a 9% fall in spot prices over the year 2013. The aluminium division of Rio- Rio Tinto Alcan, reported last week underlying earnings of around US$557...
Aluminium swings from surplus to deficit
After seven-eight years of acute oversupply, the world aluminium market is now undergoing a structural change from surplus to deficit. An extended period of overcapacity has been a feature of the world aluminium market for some time now. No doubt, producers in the western world have cut back output...
Chalco sells CNY3bn 270-day bills
Aluminum Corporation Of China Limited (Chalco) has issued CNY 3 billion 270-day fixed-rate unsecured bills on interbank market. This is the company's first issuance of super and short-term commercial papers in 2014. Financing will be used to repay bank loans, replenish working capital and lower...
Hindalco Q3 net down 23% to INR 334 crore
Hindalco Industries' net profit for the third quarter ended December was INR 334 crore, down 23% compared with INR 434 crore a year ago, hurt by weak demand for aluminium and higher taxes. Analysts were expecting a standalone net profit of INR 364 crore, according to a poll conducted by Bloomberg....
Aluminium financing deals to keep metal locked up in LME -Rio Tinto
Aluminium financing deals will continue to lock up substantial amounts of metal in the London Metal Exchange system, Rio Tinto Chief Financial Officer Chris Lynch said on Thursday. Most of the roughly 5 million tonnes of aluminium in LME warehouses is locked up in financing deals. This involves an...
LME base metals close higher
Base metals at London Metal Exchange(LME) closed with a higher rate, backed by an upbeat trade data of the top consumer China, while the market focus turned once again to controversial warehousing system of the bourse. On the closure of an open-outcry trading on Wednesday, Aluminium rose to about...
Chile sees aluminium deficit
Weak aluminium prices are pointing to a major oversupply in the metal in Chile. But, Citi thinks the market indicators for aluminium are conflicting. The London Metals Exchange 3-month prices imply a market that's in significant oversupply, despite the closure of smelting capacity around the world...
Trafigura's Impala delists 8 metals warehouses in Antwerp
Commodity trader Trafigura's warehousing and logistics subsidiary has delisted eight metals warehouses in Antwerp, Belgium, the London Metal Exchange (LME) said on Monday. The move by Impala Terminals UK Ltd comes as the market prepares for tighter LME rules to reduce wait times to access metal in...
Alumina prices persist near $335 as China deals through holiday
Metal Bulletin’s fob Australia alumina index settled at $334.57 per tonne on Friday February 7, from $335.35 previously, as China took all the spot business reported to MB even during the Lunar New Year holiday. The index has stayed at about $335 per tonne since the beginning of the year as spot...
Aluminum prices rebound from 4.5 year lows; oversupply grims
Aluminum prices which tumbled to 4.5 years low managed to stage smart recovery on London Metal Exchange. Earlier, disappointing economic data from the US and China had dragged the aluminum prices to $1,671.25 per ton. The elevated supply levels of aluminum also had added momentum to the drastic...
LME Aluminum Prices Plummet, Monthly Index at All-Time Low
Our aluminum price index registered a value of 89 in February, a decrease of 3.3 percent from 92 in January. The 3-month LME price closed on Tuesday at $1,686 per metric ton, the lowest level seen in the past 4+ years. Aluminum keeps struggling to reach previous peaks, but it doesn’t seem to have...
Guessing game continues over aluminium demand
This could be the year the world at last stops churning out much more aluminium than it can use, as economic recovery begins to stoke demand while some producers cut output after years of falling metal prices. At least that is what a few aluminium smelters and bankers are predicting, going against...
Century Aluminum rating lowered to Market Perform
Century Aluminum was downgraded by analysts at Cowen and Company from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Wednesday, TheFlyOnTheWall.com reports. They currently have a $9.00 target price on the stock, down from their previous...
Rise of aluminium futures on spot demand, new overseas trend
Aluminium prices rises by 0.43 per cent to INR 104.50 per kg in futures trade today as all participants enlarged positions on a firming overseas trend. Strong demand in spot markets is also responsible for metal prices. At the Multi Commodity Exchange, aluminium for delivery in the month of...
Base metals hit 2-mth low
Base metals hit two-month low in London due to slowing factory output growth in China coupled with deteriorating demand outlook following uncertainty in the recovery in global economy. Copper hit the low of $7,033.5 in early Monday trade on the London Metal Exchange. The metal lost around four per...
Aluminium prices fall by 0.9% on global cues
Aluminium prices fell by 0.97% to INR 106.65 per kg in futures trading today after speculators trimmed their exposures amid a weak global trend. At the Multi Commodity Exchange, aluminium for delivery in January declined by Rs 1.05, or 0.97% to INR 106.65 per kg in business turnover of 505 lots....
Global aluminium market looks well supplied: JP Morgan
The global aluminium market looks very well supplied. On the surface, JP Morgan projects primary demand will be 53.1m tonnes in 2014, implying the stock-to-use coverage on the London Metals exchange is 14 weeks or more. Nevertheless, a closer look at the fundamentals reveals a sharp divergence in...
