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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Alcoa pre-earnings outlook
Alcoa is set to report second quarter earnings on July 8. Its second quarter earnings report follows some speculation in the market regarding aluminum prices and global industry demand. Analysts’ have a second quarter consensus estimate of $0.10 per share, $0.04 above the previous year’s second...
Aluminum glut means company’s petcoke production, income at stake
Calcined petroleum coke, a key raw material commodity in aluminum production, is at the center of a storm. The plans of many aluminum manufacturers and those in its ancillary aluminum manufacturing businesses are going awry because of the aluminum oversupply in the global market. One among those...
Noranda Aluminum lowered “underweight” by Morgan Stanley analysis
Noranda Aluminum Holding Corp. was lowered by investment analysts at Morgan Stanley from an “equal weight” rating to an “underweight” rating in a note issued to investors on Tuesday, Analyst Ratings Network.com reports. Noranda Aluminum Holding Corp. opened at 3.27 on Tuesday. Noranda Aluminum...
Low aluminium prices in global markets affect Groupa K's revenue
The Management Board of Grupa K S.A., as scheduled in the corporate events programme, has published preliminary forecasts concerning the results for the second quarter of 2013. In the second quarter of the year, the development of the economic situation in Poland continued to be uncertain. However,...
Kotak says downside may be capped in aluminum
MCX Aluminum dropped on Tuesday amid range bound movements seen in international markets. MCX Aluminum June contract is trading at INR 103.55, down 0.19% on Tuesday. It opened at INR 103.45 and touched a low of INR 103. LME Aluminium traded marginally lower on Tuesday after noting 1.2% decline...
Analysts expect Hindalco to rally past INR 100 mark
Shares of Hindalco Industries moved higher in choppy trade as sentiment turned bullish in the counter after its subsidiary Novelis hiked price of painted aluminium sheet products in Europe. According to reports, the fabrication price will increase by 100 euro per ton for painted products and...
Aluminium plant close up influences Big Rivers power plants sale
Big Rivers Electric is looking to sell two of its western Kentucky coal-fired power plants, Coleman and D B Wilson, representing nearly 900 MW of generating capacity, and plans to idle both baseload facilities next winter if it has no buyers or long-term power purchase agreements in hand by then, a...
Research forecasts global aluminium industry to reach US$160billion in 2017
The global aluminium industry is forecast to reach an estimated US$160billion in 2017 with a CAGR of 5.3% over the next five years (2012-2017), says Research and Market agency. Increasing application, growing environmental concerns, and the move toward greater use of recyclable materials are...
SMM Morning Review: LME aluminum should move within USD 1,750-1,790/mt on 25th June
Investors pulled out of financial markets against liquidity crunch in China at the end of mid-year. As a consequence, China’s A-shares plummeted 5.3% on Monday, and gloomy outlook for demand in China added to market worries. Meanwhile, LME aluminum inventories broke through 5.44 million mt to a new...
China's urbanization to boost aluminum demand in coming decades
Urbanization in China is expected to stimulate aluminum consumption in coming decades, Chinese metals consultancy Beijing Antaike told a metals seminar in Hong Kong Monday. "China's is still undergoing urbanization in the next few decades, with urbanization rate reaching 60% by 2020, and 65% by...
Daily average aluminium output falls in May
Daily average primary aluminium output excluding China fell to 68,100 tons in May, against a revised 68,400 tons in April, data from the International Aluminium Institute (IAI) showed Thursday. Global production for May was 2.112 million tons against a revised 2.052 million tons in April. In China,...
Noranda Aluminum upgraded to “Neutral” by Zacks ratings
Noranda Aluminum Holding Corp. was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a report issued on Thursday, AnalystRatingsNetwork reports. The firm currently has a $3.90 price target on the stock. Zacks’price objective would suggest a potential upside of 1.83% from the...
Bank of America downgrades Century Aluminum
In a report published on Wednesday, Bank of America analyst Timna Tanners downgraded Century Aluminum from Neutral to Underperform while maintaining a price target of $9 on the company. In the report, Bank of America stated, "We downgrade aluminum producer CENX to Underperform from Neutral as our...
Alcoa given hold rating at TheStreet
Alcoa’s stock had its “hold” rating reiterated by TheStreet in a research note issued on Wednesday, Stock Ratings Network.com reports. The analysts wrote, “Alcoa (AA) has been downgraded by TheStreet Ratings from buy to hold. The company’s strengths can be seen in multiple areas, such as its...
Aluminium to correct lower on poor fundamentals, producer selling
Aluminium prices, which have risen on aggressive short-covering in recent weeks, are well above fair value and a correction lower is likely, Barclays Capital said. Producer selling and poor fundamentals will be the drivers of this price correction of around 10 percent from current levels, the...
Alcoa's woes reiterated by over supply and price fall
It is said that the tough will only get tougher when the road is rough and Alcoa Inc., the leading aluminum producer in the world, is flexing its muscles every single day. The massive aluminum glut and dropping aluminum prices are the two demons that the company has been waging a war with for some...
Morgan Stanley reiterates equal weight rating for Century Aluminum
Century Aluminum Company’s stock had its “equal weight” rating restated by research analysts at Morgan Stanley in a report released on Monday, AnalystRatingsNetwork.com reports. Other equities research analysts have also recently issued reports about the stock. Analysts at The Street upgraded...
Rusal's monopoly deemed worthless
Russia’s aluminium monopoly Rusal, with its hidden Kremlin shareholders, has slipped below the worthlessness level on the Hong Kong Exchange – that is, its market cap is now less than the value of the 28% shareholding it owns in Russia’s largest mining company, Norilsk Nickel. The aluminium assets...
