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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Asia Pacific to record the highest growth in aluminium over 2012-2017
APAC emerges as the greatest potential market during the forecast period. The growing markets of China and India are expected to continue witnessing growth in the aluminum industry. Higher demand from key consuming end user markets, such as construction, automotive, consumer durables, and packaging...
Aluminium drifts lower on Tuesday
Aluminium prices drifted lower on Tuesday along with other base metals as uncertainty about when the US Federal Reserve will start “tapering” its bond buying programme weighed on the market. Aluminium for three month delivery on the London Metal Exchange eased 1 per cent to $1,799 a tonne – barely...
Alcoa, Rusal’s aluminum production cuts not enough to improve market situation
As our old friend Chuin-Wei Yap at the WSJ in Beijing recently observed, in spite of chronically low aluminum prices and massive global overcapacity of supply, China continues to invest in new smelters in its northwest region. In fact, as the article reports, Xinjiang Qiya Aluminum & Power Ltd.,...
LME aluminium targets $1,639-$1,657 range in three months
LME aluminium may drop into a range of $1,639-$1,657 per tonne in three months, as indicated by its wave pattern and a Fibonacci ratio analysis. The uptrend from the Feb. 24, 2009 low of $1,279 to the May 3, 2011 high of $2,803 has been reversed more than 61.8 percent, as revealed by a Fibonacci...
World aluminum supply needs 40% cut: Rusal
In a little more than two weeks, Alcoa Inc. will report third-quarter results, and there is every reason to believe that those results will not be pretty. The consensus estimates call for earnings per share of $0.06 on sales of $5.74 billion. The earnings estimate has been cut in half over the past...
Hindalco shares up after conversion of warrants by promoters
Industries rose 0.22% to INR 114.50 at 13:59 IST on BSE after the company said that the promoter group companies have converted 15 crore warrants into equity shares at INR 144.35 per share. The announcement was made after market hours on Friday, 20 September 2013. Meanwhile, the S&P BSE Sensex was...
Noranda Aluminum Holding Corp. Receives New Coverage from Analysts at Sidoti
Equities research analysts at Sidoti assumed coverage on shares of Noranda Aluminum Holding Corp. in a research note issued to investors on Tuesday, American Banking and Market News reports. The firm set a “buy” rating on the stock. Shares of Noranda Aluminum Holding Corp. traded up 0.39% during...
Cost pressures puts up challenged upon China’s emerging aluminium hub Xinjiang
The rise of China’s Xinjiang province as a hub for aluminium production may be challenged in the coming years by increasing transport and labour costs, and its difficult geographical location, market participants said. Once a comparatively small cog in China’s aluminium production, northwest...
European secondary aluminium producers frustrated by low LME prices
European secondary aluminium prices stayed flat on Friday September 13, as low London Metal Exchange prices continued to hinder any price increases that would otherwise spring from strong demand. “We thought prices would rise with increased demand, but they have remained stable for a long time,”...
Aluminum buyers in Japan said to win lower fees from suppliers
Aluminum buyers in Japan, Asia’s biggest importer, won the first cut in nine months on fees they pay to producers as London Metal Exchange proposals to ease the backlog at warehouses pushed down global premiums. The fee for the three months starting in October fell to $245 a metric ton over the...
Kaiser aluminum looks to continue to trade above its annual-high share price today
Shares of Kaiser Aluminum traded at a new 52-week high today of $71.25. So far today approximately 71,000 shares have been exchanged, as compared to an average 30-day volume of 114,000 shares. There is potential upside of 4.6% for shares of Kaiser Aluminum based on a current price of $70.77 and an...
Inventories, surplus output pile pressure on aluminium prices
Tepid demand from principal consumption points like automobile, packaging and construction, yet to recover from the mauling of the world recession, has left the aluminium industry in deepest crisis. Industry giants from the US to Europe to China are sufficiently bedraggled by aluminium prices...
Rusal urges greater transparency in LME's disclosure of positions
Russian aluminum producer Rusal said Monday that there is a need for greater transparency in the London Metal Exchange's disclosure of commercial and non-commercial positions on the exchange. "Specifically, the LME should introduce disclosure of commercial and non-commercial positions on the...
Eltherington Group revamps business by making a £250,000 investment
Aluminium company Eltherington Group has revamped its stockholding business after making a £250,000 investment. The Hull-based firm, which supplies aluminium extrusions, sheet, plate and bars to fabricators and specialist manufacturers across the region, has introduced new products, a new pricing...
China aluminium firms likely to snub govt call to shift output overseas
China plans to urge local aluminium producers to ramp up overseas investment rather than expand at home, signalling its growing desperation to ease a domestic supply glut. Market participants said the government was clutching at straws and that few firms in the world's largest aluminium consumer...
Alumina prices fall back after summer highs
Alumina prices dropped back to what sources said was a more representative level on Friday September 6, following a summer of higher prices supported by decent interest for the sporadic deals on offer over the past weeks. Metal Bulletin’s fob Australia alumina index fell to $312.88 per tonne from...
Aluminum climbs for first time in three days on growth optimism
Aluminum advanced for the first time in three days, rebounding from a four-week low, after the U.S. Federal Reserve said a recovery in the world’s largest economy was intact. Aluminum for delivery in three months increased as much as 0.8 percent to $1,804 a metric ton on the London Metal Exchange...
Aluminium down 0.9% on global cues
Aluminium prices edged lower by 0.92% to INR 123.90 per kg in futures trade today as participants trimmed positions, tracking a weak overseas trend. Further, subdued demand in the spot markets also put pressure on metal prices. At the Multi Commodity Exchange, aluminium for delivery in October shed...
