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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Rusal sees aluminum deficit exceeding 2 million tons in 2017
Output of aluminum outside China will trail demand by 2.4 million metric tons in 2017, eroding stockpiles and reversing a decline in prices, said United Co. Rusal, the largest producer of the metal. “We already see the aluminum market falling into deficit due to curtailments and strong...
Aluminum heading for 'significant' deficit in 2014 on production cuts - Barclays
The aluminum market has finally turned a corner after years of being in surplus, according to Barclays Capital. "The pace of supply rationing ex-China is enough to drive a small but nonetheless significant global market deficit in 2014," Barclays analyst Nicholas Snowdon wrote in a note. For the...
Heightened competition squeezes margin for secondary aluminum producers
China’s secondary aluminum producers have seen falling profitability this year given slipping prices and rising production costs, as well as fiercer competition. China’s secondary aluminum output dropped 3% year-on-year to about 3.5 million tonnes during the first three quarters, latest data...
Aluminum futures and Alcoa's stock – Promising investment assets : analysts
According to an analyst at Alpari, the aluminum industry is one of the most attractive investments at this point. While metallurgy companies still cannot recover form the crisis (which led to aluminum overproduction, price collapse and shutdowns across the globe), China is still a strategical...
Aluminium futures fall 0.30 per cent on global cues
Aluminium prices fell by 0.30 per cent to INR 107.95 per kg in futures trading today as speculators offloaded their positions driven by weak global trend on supply outlook. At the Multi Commodity Exchange, aluminium for delivery in December declined by 40 paise, or 0.30 per cent, to INR 107.95 per...
Alba bounces back to profit
Aluminium Bahrain (Alba) swung to a third-quarter net profit on higher sales to Saudi Arabia, the owner of the world's fourth-largest aluminium smelter said. Net profit for the three months to 30 September was BD4.9 million ( $13 million ), versus a net loss of BD13 million a year earlier. Alba...
World aluminium production at all-time high of 4.24 million tones
According to the data estimates from International Aluminium Institute (IAI) showed that the total primary Aluminium production reached 4.24 million tones in October 2013. This is the all time high production level, since January 1973, when IAI is collecting the data. The production of Aluminium in...
Aluminum set for first monthly loss since June on supply outlook
Aluminum traded near a four-year low, heading for the first monthly decline since June amid signs that the metal will remain in oversupply. The contract for delivery in three months on the London Metal Exchange was unchanged at $1,754 a metric ton by 3:45 p.m. in Shanghai after tumbling to $1,744...
Aluminium slides to lowest price in more than four years
Aluminium slid to its lowest level in more than four years on Wednesday as speculators piled pressure on a market already weighed down by a global surplus. Three month aluminium touched a low of $1,748 a tonne, the weakest since July 2009, and closed down 0.9 percent at $1,757. It has been one of...
Ex-China Aluminum output hits lowest in 3.5 years on cuts
Base metals have been dragged lower in what appears to be a commodities-specific sell-off, while equities, including metals and mining equities, are holding strong. With LME inventories for most base metals either flat or falling, Chinese demand surprising to the upside, and market balances...
Aluminium to fall to $1,760 before reversing downtrend
LME aluminium may develop the final drop to $1,760 per tonne, before reversing its downtrend, as indicated by its wave pattern and two trendlines. Wave pattern shows that the metal is riding on the final wave of a five-wave cycle, and this wave could be ending around $1,760, as indicated by the...
Aluminium recovers after touching four-and-a-half-month lows
Aluminium steadied on Tuesday, after touching four-and-a-half-month lows the previous day, as the dollar fell, but analysts expected more losses due to an overhang of inventories and to speculators adding short positions. Copper was slightly weaker following gains in the past week that had been...
Aluminium prices to struggle due to oversupply
All-in aluminium prices will struggle despite good demand given persistent overproduction, according to a new report by Fitch Ratings. It says deconsolidation in the industry, producers moving down the cost curve, and substantial barriers to exit have worked to keep production high. Excess...
Aluminium recovers from 4-1/2-month low as dollar dips
Aluminium steadied on Tuesday, after touching four-and-a-half-month lows the previous day, as the dollar fell, but analysts expected more losses due to an overhang of inventories and to speculators adding short positions. Relative-value trades have been popular this year, including shorting...
Alcoa hits two-week high on Goldman upgrade
Alcoa Inc., the largest U.S. aluminum maker, climbed to the highest in more than two weeks after Goldman Sachs upgraded the stock and raised its price target. The shares rose 3.7 percent to $9.58 at 1:23 p.m. in New York, after reaching $9.75, the highest intraday price since Nov. 6. Goldman Sachs...
Goldman sachs upgrades alcoa to buy on its downstream growth
In a report published Monday, Goldman Sachs analyst Sal Tharani upgraded the rating on Alcoa from Neutral to Buy, and raised the price target from $8.00 to $11.00. In the report, Goldman Sachs noted, “We upgrade AA to Buy from Neutral, on the back of strong growth from its high-margin downstream...
Aluminium down 0.4% on global cues
Aluminium futures prices fell by 0.41% to INR110.65 per kg today as speculators offloaded positions driven by weak global trend. At the Multi Commodity Exchange, aluminium for delivery in December declined by 45 paise, or 0.41%, to INR 110.65 per kg in business turnover of 13 lots. Similarly, the...
Can-One Bhd worth more than market value
Can-One Bhd, which once hogged the limelight when it battled to acquire the 32.9% stake in Kian Joo Can Factory Bhd from the See family, probably warrants investors taking a second look at this packaging company. Being the single largest shareholder, Can-One’s investment is riding high on the rally...
