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 Holding Corp.’s “Neutral” Rating Reaffirmed at Jefferies Group
Jefferies Group restated their neutral rating on shares of Noranda Aluminum Holding Corp. in a report issued on Monday, StockRatingsNetwork.com reports. They currently have a $4.25 target price on the stock, down from their previous target price of $4.75. “We mark to market our 2Q13 estimates for...
Commodity warehouse ownership rules need rethink -report
Conflicts of interest over ownership of commodity warehouses can inflate prices of raw materials such as aluminium, a report by two Brussels think-tanks said on Tuesday. It is likely to add to market pressure to reform the London Metal Exchange's (LME) storage system, in which companies such as...
Aluminum industry seeks solutions to overcapacity quandary
As with many industrial market trends today, the overcapacity problem stems from China’s rapid economic expansion. According to London-based research firm CRU, China now has an installed aluminum production capacity of 28 million tons and is producing at a rate of 24 million tons per year. The...
Rio under market pressure to cut aluminium production
Australia's high-cost aluminium production is in the firing line amid sliding prices, with global giant Alcoa confirming its Victorian smelters are prime targets for capacity closures and Rio Tinto being urged to cut production from local assets. Alcoa, which kicked off the US reporting season with...
Alba sales increase 1.9% in H1 2013
Aluminium Bahrain B.S.C ( Alba ) was able to increase its overall sales on the back of higher production. Its sales figures for H1 2013 rose by 1.9% year-on-year to 454,428 metric tonnes (mt) ahead of the company's own forecast for the period. Production figures year-to-date were up by 2% --...
Alcoa CEO Not Worried About Proposed LME Policy Change
Alcoa Inc.'s chief executive said Monday that he wasn't concerned about the rollout of a London Metal Exchange warehousing policy that may limit demand for the company's metal. Warehouses licensed by the LME have emerged as a source of demand for aluminum in recent years as banks and commodities...
Noranda Aluminum Holding Corp. Receives “Neutral” Rating from Jefferies Group
Noranda Aluminum Holding Corp.‘s stock had its “neutral” rating reaffirmed by Jefferies Group in a research note issued on Monday, Stock Ratings Network.com reports. They currently have a $4.25 price target on the stock, down from their previous price target of $4.75. Jefferies Group’s target price...
Alumina may still prevail when market conditions normalise
ALUMINA'S buddy Alcoa is sticking to its forecast of 7 per cent growth in global aluminium demand this calendar year, in ?essentially balanced'' alumina and aluminium markets. This is despite lower prices for the finished metal and the general industry funk. In fact Alcoa's downstream operations...
Aluminium industry faces challenges, says report
The Middle East’s aluminium industry is in an advantageous position, and can play a key role in industry consolidation and the development of new globally active players, shows a new report by The Boston Consulting Group (BCG). The Middle East’s strategic position is supported by the recent $15...
Aluminium down 0.5% on global cues
Taking weak cues from global markets, aluminium prices fell 0.51% to INR 107.25 per kg in futures trading on Thursday as speculators offloaded their positions. Further, sluggish demand in India's domestic spot markets also weighed on the metal prices. At the Multi Commodity Exchange, aluminium for...
Alcoa drops on JPMorgan downgrade
Alcoa stock took a dive Wednesday after JPMorgan downgraded the barometer for market sentiment and made deep cuts to earnings estimates. Shares of Alcoa, which kicks off the second-quarter earnings season on Monday, fell 1% to $7.72. JPMorgan lowered its rating to Neutral from Overweight and...
Constellium receives “buy” rating from Goldman Sachs analysts
Equities researchers at Goldman Sachs initiated coverage on shares of Constellium in a research report issued on Tuesday. The firm set a “buy” rating and a $21.00 price target on the stock. Goldman Sachs’ price target indicates a potential upside of 32.41% from the company’s current price. The...
Alcoa estimate down in past month
Expectations have dropped for Alcoa’s second quarter results in the month leading up to the company’s earnings announcement slated for Monday, July 8, 2013. The consensus analyst estimate has dropped from 12 cents a share to the current estimate of earnings of nine cents a share. Over the past...
Zacks downgrades Reliance Steel & Aluminum to “Underperform” rating
Reliance Steel & Aluminum Co. was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research report issued on Tuesday, ARN reports. They currently have a $60.00 price target on the stock. Zacks' price target would suggest a potential downside of 9.52% from the stock’s...
Support for aluminum July contract is seen at INR 106: Kotak
MCX Aluminium July contract traded at INR 109.20, up 1.35% on Wednesday. It opened at INR 108.20 and touched a high of INR 109.40. LME aluminum traded marginally lower tracking record high stocks at LME warehouses coupled with supply glut. Stocks at LME fell by 5,500 tons yesterday after hitting a...
Aluminium prices up 0.7%
Aluminium future prices yesterday rose by 0.74% to INR 108.55 per kg as speculators created positions on pick up in spot demand. However, a weak trend in the global market, limited the gains. At the Multi Commodity Exchange, aluminium prices for delivery in July traded INR 0.80, or 0.74%, higher at...
Top 40 Chinese aluminum alloy wheel exporters in May
The number of Chinese aluminum alloy wheel exporters was 678 during the first five months of this year. Export value at top 40 exporters hit USD 1.13 billion, accounting for 81.8% of total export value. China exported 59,800 mt of aluminum alloy wheels in May, which are worth USD 298 million, with...
China’s anhydrous aluminum fluoride exports leap 38% YoY during January-May
According to China Customs, China exported 9,750 mt of anhydrous aluminum fluoride in May, a 101% surge YoY. YTD exports through May grew 38% YoY to 63,739 mt. The export FOB price of China’s anhydrous aluminum fluoride averaged USD 1,256/mt in May, down 15% YoY, due chiefly to falling fluorite and...
