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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Aluminium drops to 3-1/2 year low
Aluminium prices fell to their lowest level in 3-1/2 years on Monday, tracking falls across base metals as lower-than-expected growth figures from major consumer China raised fears about the outlook for demand. Benchmark aluminium on the London Metal Exchange fell to $1,818 a tonne, its lowest...
SMM Morning Review: LME aluminum should struggle between USD 1,825 -1,875/mt on 16th April
China’s slowing Q1 GDP growth dampened market sentiment. This is compounded by a sharp decline of April New York Fed manufacturing index to 3.05 and a third straight monthly drop of April NABH Housing Market Index to 42. Shorts dominated the market due to worries over demand, sending LME aluminum...
Century Aluminum bearish moving average crossover alert
Today, shares of Century Aluminum have crossed bearishly below their 10-day moving average of $7.33 on a volume of 281K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term. Century Aluminum has overhead...
Market conditions hit Yunnan Aluminium Co.
Shenzhen-listed Yunnan Aluminium Co, one of China's leading aluminum smelters, is expecting to record first quarter losses totaling between 70 million yuan ($11.31 million) and 75 million yuan, nearly three times the 24.28 million yuan deficit it wrote down during the same period last year, the...
China's new smelters set to swamp effort to dam aluminium flood
Aluminium smelters are set to open in China at a faster pace than producers there and worldwide shut loss-making plants to tackle a glut that keeps the metal's prices weak. So far this year, analysts estimate cutbacks in aluminium production have totaled as much as 700,000 tonnes in China, the...
Shares of Kaiser Aluminum up 1.2%
Kaiser Aluminum is one of today's notable stocks on the rise, up 1.2% to $62.78. The Dow is trading fractionally higher to 14,619 and the S&P is currently trading fractionally higher to 1,564. Potential upside of 14.4% exists for Kaiser Aluminum, based on a current level of $62.78 and analysts'...
Alcoa lowers 2013 aluminium surplus forecast
Alcoa Inc., the largest US aluminium producer, has not changed its forecasted growth in demand in 2013 after reporting its first quarter earnings. That should be some comfort to investors in companies making non-ferrous metals, especially aluminium, as fears that the euro zone’s continuing problems...
Deutsche bank finds global aluminium demand 'disappointing'
Global aluminum demand has been disappointing so far this year but current price levels offer good value, Deutsche Bank said Tuesday in its quarterly commodities comment. "Continued weakness in Europe has been exacerbated by disappointing demand from China and other emerging/developing markets....
Aluminium futures marginally up on global trends
Aluminium prices today rose marginally by 0.24 per cent in futures trade mostly in line with a firming trend in the global markets. Besides, increased demand at domestic spot markets also influenced prices. At the Multi Commodity Exchange, aluminium for delivery in April rose by 25 paise, or 0.24...
Ess Dee Aluminium turns weak and is down 1.1%
The Ess Dee Aluminium stock has reversed after witnessing an upswing in Monday’s trade on NSE. The stock is currently trading at INR 383.15, down 4.30 or 1.1% at 1:11PM. Reports state that the company is in talks with Amcor of Australia to sell the company. A report in ET quoting sources states...
Alcoa boosted by strong aluminum demand
Alcoa Inc. kicked off earnings season on Monday by reporting a larger first-quarter profit than analysts expected, helped by strong demand for aluminum used to make airplanes and automobiles. The company still sees demand for aluminum growing 7 per cent in 2013, with gains cutting across many...
Alcoa losing its accuracy as a bellwether for the U.S. stock market
Alcoa Inc., the first Dow Jones Industrial Average member to report results each quarter, is losing its accuracy as a bellwether for the U.S. stock market. The Standard & Poor’s 500 Index has usually followed Alcoa’s lead since 2002, rising 2.5 percent in quarters when the aluminum producer beat...
Alcoa plagued by aluminum glut
Alcoa Inc. is witnessing a seventh consecutive quarter of falling or flat raw aluminum prices on the London Metal Exchange, despite its own moves to curtail production. The depressed raw aluminum price is expected to fall one cent to eight cents a share. Speculators are busy shorting aluminum, part...
Alba sales increase 2.2% in the first quarter of 2013
Aluminium Bahrain B.S.C was able to increase its overall sales on the back of higher production. For the first quarter of 2013, sales figures reached 219,537 metric tonnes (mt), up by 2.2% from 214,891 mt in Q1 2012. Production jumped by 3% to 227,414 mt versus 220,738 mt for the same period in...
Noranda Aluminum's RSI reading hits 28.0
In trading on Wednesday, shares of Noranda Aluminum Holding Corp entered into oversold territory, changing hands as low as $4.00 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to...
Aluminium futures down on weak global cues
Taking weak cues from global markets, aluminium prices fell by 0.24 per cent, to INR103.60 per kg in futures trading today as speculators offloaded their positions. Besides, subdued demand in the domestic spot markets also weighed on the metal prices. At the Multi Commodity Exchange, aluminium for...
Downward price index trend due to sluggish demand of aluminium
The monthly Aluminium MMI clocked in at 93 in April, a drop of 1.1 percent from 94 in March. This index has been on an uneven decline since the beginning of 2013 – matching its all-time low, first reached in August 2012 – and this month’s fall comes primarily from LME and Indian aluminium prices....
Estimated aluminum demand in US and Canada up 4.4%
Aluminum demand in the United States and Canada (shipments by domestic producers plus imports) totaled an estimated 1,996 million pounds during January 2013, up 4.4 percent over January of 2012. Demand for semi-fabricated (mill) products totaled 1,299 million pounds, rising 4.2 percent. Apparent...
