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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Ess Dee Aluminium board recommends 20% dividend
Ess Dee Aluminium announced Tuesday that its board of directors has recommended a dividend of 20% or INR 2 a share of INR 10 each. The declaration and payment of dividend is subject to approval of shareholders at the ensuing Annual General Meeting. Shares of the company gained INR 6.95, or 1.27%,...
Rusal sees room for more cuts as aluminum price struggles
Aluminum giant Rusal could consider deeper capacity cuts if prices for the metal continue to languish around levels last seen in the aftermath of the financial crisis, a senior executive said. The aluminum industry is struggling with excess capacity, rising costs and weak prices. RusAl estimates a...
Aluminum steady in April shipments from US and Canada
North America’s aluminum exports through shipments increased during April, increasing their daily shipment rates. The information is based on the Metals Service Center Institute’s Monthly Activity Report, which is based on data supplied by participating metals service centers for both countries....
Hindalco slips after twin bulk deals
A bulk deal of 10 lakh shares was struck on Hindalco Industries counter at Rs 108.25 at 11:26 IST on BSE, on 23 May 2013. Another bulk deal of 4 lakh shares was struck on the counter at Rs 107.45 at 11:33 IST on BSE on 23 May 2013. The bulk deals constituted 0.07% equity of Hindalco Industries....
Kaiser Aluminum's shares soared at 52 week high
Kaiser Aluminum traded at a new 52-week high of $67.04 on Wednesday. Approximately 232,000 shares were exchanged, as compared to an average 30-day volume of 186,000 shares. Kaiser Aluminum Corporation produces alumina, primary aluminum, and fabricated aluminum products. The Company also supplies...
Constellium NV's shares down in their debut on NY Stock Exchange
Dutch aluminum products maker Constellium NV's shares opened 10 percent below their IPO price in their debut on the New York Stock Exchange, valuing the company at $1.36 billion. Constellium, whose shareholders include Apollo Global Management LLC, miner Rio Tinto and French investment firm FSI,...
Global Aluminium surplus in 2013 expected at 1 million ton: Barclays
Global aluminium market surplus in 2013 is expected to be at 1 mn ton from 1.2 mn ton previously estimated as Chinese market has moved into a modest deficit in Q2, driven by production cuts amounting to as much as 1Mty capacity by mid-May, stated London based Barclays in its recent market analysis....
Japan expects diecast aluminum alloy shipments to near 3-year high in May
Japan's domestic shipments of diecast aluminum alloy are expected to rise to about 43,000 mt in May as the weak yen shrinks imports from China, market sources said Tuesday. Domestic shipments were last seen around this level in March 2010, when they stood at 43,903 mt. Japanese secondary aluminum...
DUBAL and EMAL to tap potential European market
Dubai Aluminium and Emirates Aluminium target growth in market share within the European market. Since its first forays into the region in 1996, DUBAL has developed long-term partnership relationships with customers that have driven consistent growth in the company's sales volumes into Europe,...
Alcoa’s massive drop in Alcoa profits
Alcoa of Australia has filed full-year accounts and revealed that the company's profits of $106.2 million were down from $569 million. Sales fell by 12% and the company's return on capital was 3% – down from 9.47% at the end of 2011. Alcoa of Australia is 60% owned by Alcoa and 40% owned by Alumina...
China’s Aluminum Producers Seen Having to Make Cuts Amid Surplus
China, the world’s largest producer of aluminum, will have a “manageable” surplus of the metal for the next five years if companies cut back 4 million to 5 million metric tons of production, according to researcher CRU. China has cut output 1 million metric tons this year and will probably reduce...
Aluminum prices dropped 2.67%
Aluminum prices dropped in four consecutive trading days until Tuesday (14/5). Decline in aluminum prices along with other industrial metals prices drop in the past week. Only tin which recorded an increase in price. Price of aluminum for delivery in three months on the London Metal Exchange (LME)...
Rusal increases profits amid falling aluminium prices
Oleg Deripaska’s Rusal on Tuesday reported a better than expected net profit of $52m, yet concerns remain about the company’s recovery following a sharp decline in aluminium prices. Market prices for aluminium have fallen to as low as $1,800 a tonne in recent weeks, with the average price for the...
Rusal Aluminum Output Falls in First Quarter
United Co. Rusal PLC, the world's largest aluminum producer, said Tuesday that it saw a substantial narrowing in first-quarter losses, as it pushes to cut annual output in a market battling with excess global supply, poor demand and low prices. First-quarter net losses adjusted for the company's...
SMM Morning Review: LME aluminum should move with in USD 1,820-1,850/mt on16th May
Q1 GDP in France, Spain and Italy contracted. Germany’s GDP pointed to slight growth in the first quarter, but still missed forecasts. As a result, Q1 GDP in the euro zone declined 0.2%, contracting for a sixth straight quarter. The US dollar index surged above 84 on weak European economic data. It...
Aluminium weakens 0.4% on global cues
Aluminium prices fell by 0.44% to Rs 101.25 per kg in futures trading today, largely in tune with a weakening trend in the global markets on demand concern. Further, subdued demand in the domestic spot markets also weighed on the metal prices. At the Multi Commodity Exchange (MCX), the May contract...
China aluminum capacity cuts won't solve glut: CRU
China has temporarily halted 1 million metric tons a year of primary aluminum capacity so far this year and could cut a further 300,000 tons capacity in the country's east before year-end if metal prices remain low, but this won't solve the global industry's overcapacity problems, CRU consultants...
Aluminum Corporation of China upgraded to “Outperform” rating by Credit Suisse
Aluminum Corporation of China was upgraded by investment analysts at Credit Suisse from a "neutral" rating to an "outperform" rating in a note issued to investors on Friday. Aluminum Corporation of China traded up 4.41% on Friday, hitting $10.41. Aluminum Corporation of China has a 1-year low of...
