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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Aluminum breaks below key support at 1900 a metric ton
Three-month aluminum falls to October 2012 lows in Asian trading on the London Metal Exchange, with a break below major psychological support at 1,900 a metric ton likely to spur further selling later in the day. Aluminum is trading at 1,897.75/ton, down 0.3% from its previous settlement as prices...
Indian Government raises $115 million through OFS
Government of India, the promoter of National Aluminium Company BSE 1.01 % , concluded its offer for sale of shares at INR 40, and raised $115 million on March 15. Soon after that the stock price nosedived to INR 33 in the next few trading sessions . In fact, there are many instances of stock...
Higher production of aluminium in China becomes a cause to worry
Higher production in China is worrying stakeholders as the demand for Aluminium is lackluster. The expansion of production units in China in the western region is due to lower power costs in the region. The other regions in China are still struggling due to higher power and raw material costs and...
Aluminium futures down on global cues
Taking weak cues from global markets, aluminium prices fell marginally to INR 103.30 per kg in futures trading today as speculators offloaded their positions. Further, sluggish demand in the domestic spot markets also weighed on the metal prices. At the Multi Commodity Exchange, aluminium for...
LME aluminium spot prices may touch $2,050/t in second half of 2013
London Metal Exchange Aluminium spot prices would go higher in the second half of 2013, averaging $2,050/t versus $1,925/t in the first half, according to a market analysis by London based Barclays. For short term, it could trigger some short covering in the metal, particularly if macro sentiments...
Aluminium prices under stress due to excess supply
Aluminium prices are unlikely to bounce back in the near-term as capacity surpluses continue to exert downward pressure, despite major global producers resorting to cuts. From a medium-term perspective, a dip in automobile purchases amid renewed economic uncertainty in Europe and a slowdown in...
Aluminum of China up 1.4% to $10.07
One of today's stocks on the move is Aluminum of China, up 1.4% to $10.07. The Dow Jones Industrial Average is now trading 0.5% higher to 14,525 and the S&P is trading 0.5% higher to 1,557. In the past 52 weeks, Aluminum of China share prices have been bracketed by a low of $9.22 and a high of...
Aluminium futures rise on spot demand, overseas cues
Aluminium prices edged up by 0.53 per cent to INR 104.60 per kg in futures trade today as participants enlarged their positions, supported by a firming trend overseas. Strong demand in the spot markets also influenced metal prices. At the Multi Commodity Exchange, aluminium for delivery in March...
Aluminum may extend losses on bear flag
Aluminum prices, down 6.5 percent this year, probably will extend the slump to the lowest since October on the London Metal Exchange, according to technical analysis by Matt McKinney at Zaner Group LLC. After touching a low of $1,934.85 a metric ton on March 11, prices jumped two days later to...
Alumina's shares trading down at lower prices
Shares of Alumina are trading down 3.1% to $5.02 today on above average volume. Today's volume of 495,000 shares tops the average 30-day volume of 327,000 shares. Spikes in volume can validate a breakout or signify a potential turning point. In the past 52 weeks, shares of Alumina have traded...
India raises $116 million from aluminium stake sale
India raised $116 million by selling shares in state-run National Aluminium Co Ltd on Friday, taking the government closer to its fundraising target to reduce the budget deficit. The single-day NALCO auction received bids for a total of 156.94 million shares, at a weighted average price of 40.05...
LME aluminum should fluctuate between USD 1,940-1,980/mt on 18th March: SMM Morning Review
The US Labor Department announced last Friday that the country’s CPI grew by 0.7% in February. The New York Federal Reserve reported its Empire State manufacturing activity index fell in March to 9.24, falling short of expectations. Despite a better-than-expected 0.7% growth in industrial...
National Aluminium Sinks on 4-Year Low Sale Price
National Aluminium Co. , India’s second-largest maker of the lightweight metal, plunged the most in more than a year after the government said it would sell shares today at a price last seen four years ago. The shares of the state-controlled company declined as much as 8 percent to 40.55 INR and...
Aluminum gain on stronger equities and demand signals
Aluminum rose in London, leading gains by industrial metals amid strengthening European equities and signs of demand. The Stoxx 600 Europe Index (SXXP) of shares reached an almost five-year high. It’s up from the close on Feb. 1, while the LME Index of the six main metals traded in London is down...
Aluminum price weighed by uncertain economy
Norwegian aluminum producer Norsk Hydro ASA said on Friday that the current weakness and uncertainty in the world economy is weighing on the aluminum price, but underlying factors point to continued solid growth in demand. CEO Svein Richard Brandtzaeg says: "Weakness and uncertainty in the world...
Rusal's 'Last Act of Drama' in commodity market
Oleg Deripaska, the CEO of the world's largest aluminum company Rusal said global commodity producers need to cut output by up to 10 percent to bring the market back to balance. "At the moment in many industries not just aluminum, [but] steel, cement, nickel we have a very urgent call to reduce...
LLC's new report analyzes the flexible packaging uses industry
Research and Markets has announced the addition of Supplier Relations US, LLC's new report "Laminated Aluminum Foil Manufacturing for Flexible Packaging Uses Industry in the U.S. and its International Trade [2013 Edition]" to their offering. This latest Laminated Aluminum Foil Manufacturing for...
Nalco down 6% in early trade ahead of offer for sale
Shares of state-run Nalco on Thursday tumbled nearly six per cent in early trade, ahead of its share sale programme where the government will sell up to 10 per cent stake in the aluminium major. After making a weak opening, shares of the company further lost 5.61 per cent to Rs 43.7 on the BSE in...
