Aluminium fluoride prices rise on cost support; premium for high-grade supply widens
This week, trading sentiment in China's aluminium fluoride enterprises was moderate, and aluminium fluoride prices continued to rise. As of now, SMM mainstream quotations for aluminium fluoride stand at RMB 11,500-12,300 per tonne; cryolite spot prices firmed, with SMM cryolite quotations at RMB...
Macro rate hike expectations bring periodic pressure, while destocking in China provides solid bottom support
Futures: The most-traded SHFE aluminium contract opened at RMB 24,310 per tonne in the night session on September 10, reached a high of RMB 24,310 per tonne and a low of RMB 24,075 per tonne, and closed at RMB 24,125 per tonne, down RMB 365 per tonne or 1.49 per cent from the previous close....
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Noranda Aluminum plans quarterly dividend of $0.04 (NOR)
Noranda Aluminum Holding Corp. declared a quarterly dividend on Wednesday, July 24th, Stock Ratings Network reports. Investors of record on Monday, August 5th will be given a dividend of $0.04 per share on Wednesday, August 28th. This represents a $0.16 dividend on an annualized basis and a yield...
Aluminum Shipments by Japan Decrease 8.6% in June
Shipments of rolled-aluminum products by Japanese fabricators to domestic and overseas markets decreased 8.6 percent in June, the eighth month of decline, an industry group said today. Volume declined to 161,854 metric tons last month from 177,050 tons a year earlier, the Japan Aluminium...
Alcoa urges LME to provide more transparency in aluminum trading
Alcoa Inc., the largest U.S. aluminum producer, is urging the London Metal Exchange to provide more transparency into its marketplace for the lightweight metal. The current system isn’t sustainable, Klaus Kleinfeld, Alcoa’s chairman and chief executive officer, said in an interview. At stake, he...
Aluminium down by 0.6%
Aluminium futures today fell by 0.57% to Rs 104.90 per kg, largely in tandem with a weakening trend in base metals overseas and subdued demand at domestic markets. At the Multi Commodity Exchange, aluminium prices for delivery in July traded 60 paise, or 0.57%, lower at Rs 104.90 per kg in a...
China’s Fluoride Salt Exports Surged 29% in H1, 2013
China exported 76,779 mt of anhydrous aluminum fluoride in H1, 2013, up 35% YoY. Artificial cryolite exports, however, fell 3% YoY to 9,953 mt. Fluoride salt exports totaled 86,732 mt, an increase of 29% YoY, according to China Customs. The export price of anhydrous aluminum fluoride averaged USD...
Operating rates at chinese aluminum wire and cable producers rose to 73% in June
Operating rates at domestic aluminum wire and cable producers averaged 73% in June, up 4 percentage points from May, Shanghai Metals Market’s survey has found. This signals a peak season for aluminum wire and cable sector. Increased investments in power grid construction are boosting order books at...
Goldman denies New York Times' aluminium Price Manipulation Scheme Story
This weekend the New York Times published a big story on Metro International Trade Services, a Detroit based aluminium storage company owned by Goldman Sachs. The NYT reported that Goldman shuffles the commodity around between storage units to skirt regulations meant to keep the commodity moving...
MillerCoors, Coca-Cola accuse big banks of manipulating aluminum market
A MillerCoors LLC official will reportedly speak in front of the U.S. Senate Banking Committee next week to call out big banks for alleged anti-competitive actions in the aluminum market, according to a Huffington Post story published Tuesday. The HuffPo story said Chicago-based joint venture...
European spot offers of aluminum alloy push higher on further insolvency rumors
Spot offers of aluminum alloy in Europe have pushed higher this week as rumors of additional insolvencies continued to circulate in the market. Prices for commodity grade standard 226 aluminum alloy have risen by around Eur80-100/mt ($105-131/mt) in Germany, Europe's key market, since news that a...
Analysts predict spike in aerospace plate use
Aerospace aluminum plate demand is expected to surge in coming years as aircraft manufacturers make more and bigger planes and aluminum-lithium alloys gain traction in the market, according to a recent analyst report on the sector. The potential growth should significantly boost prices, increase...
Beer Brewers blast wall street banks over aluminum business amid congressional scrutiny
A loose coalition of beer brewers, automakers, Boeing and Coca-Cola is accusing big banks, including Goldman Sachs and JPMorgan Chase, of anti-competitive behavior in the aluminum market, fueling regulatory concerns and prompting a Senate probe as part of an international political battle over Wall...
Aluminium rises by 0.62% on global cues
Aluminium prices edged up by 0.62% to INR 105.85 per kg in futures trade today as participants enlarged their positions, supported by a firming overseas trend. Further, strong demand in the spot markets also influenced metal prices. At the Multi Commodity Exchange, aluminium for delivery in July...
LME aluminium signals mixed
Signals are mixed for LME aluminium, as it is not clear how high the current rebound could reach. The rebound followed the completion of a five-wave cycle around a support at $1,794, the 61.8 percent Fibonacci retracement on the rise from the June 27 low of $1,758 to the July 12 high of $1,851.25....
Tight margins cause mounting casualties in secondary aluminium
The gloss has come off the secondary aluminium markets in the UK and Europe this year, and we are now beginning to see the cracks that have been forecast since producers started struggling for an adequate margin last year. During its daily conversations with market participants, Metal Bulletin has...
East China Aluminum: Prices Inch Down on Soft Downstream Demand
Mainstream traded prices for spot aluminum in Shanghai were RMB 14,400-14,420/mt on Friday, RMB 0-20/mt lower than SHFE 1307 aluminum contract prices. Low-iron aluminum was traded below RMB 14,570/mt. The most active SHFE aluminum contract inched down, triggering bearishness over spot aluminum....
European aluminum alloy spot demand slow, prices inch higher
Spot demand for secondary aluminum in Europe was seasonably low this week as inquiries slowed ahead of the summer vacations and manufacturing turnarounds. Prices in Europe have firmed slightly, consolidating the move higher after a major German alloy producer, Oetinger, filed for insolvency June...
China: Low prices dig in following lower-than-expected economic recovery
High production costs and a lower-than-expected economic recovery have led to a slower pace of aluminium output and under-performing light metal prices in China. The Chinese aluminium industry is in the process of shifting its production base to Western China where it will benefit from abundant...
Shares of Kaiser Aluminum receive a boost, up 1.3%
Kaiser Aluminum is a company whose shares are active, trading 1.3% higher to $64.42. The S&P is trading fractionally lower to 1,650 and the Dow is trading fractionally lower to 15,278. Kaiser Aluminum Corporation produces alumina, primary aluminum, and fabricated aluminum products. The Company also...
