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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Indian Ministers to sell stake in National Aluminium on friday
A panel of Indian ministers gave the government the go-ahead to sell a part of its stake in state-run National Aluminium Co. Ltd. through a public offering Friday, Disinvestment Secretary Ravi Mathur said. The federal cabinet had already approved a 12.15% stake sale in the aluminum producer....
Aluminium futures down 0.19 pc on global cues
Taking weak cues from global markets, aluminium prices fell marginally to Rs 105.65 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...
Aluminium up on increased demand, global cues
Aluminium showed some strength on the local non-ferrous metal market on Wednesday with prices rising by Rs 2 per kg on increased demand from consuming industries amid a firming global trend. Sentiment turned better after aluminium rose to a one-week high in overseas markets amid speculation that an...
Aluminij Mostar said it may have to close down due to weak market
Bosnia's sole aluminium smelter Aluminij Mostar said it may have to close down if it continues to make losses in a weak market beset with slumping demand and rising energy costs. The country's top exporter, which sells most of its aluminium into the depressed European construction and auto...
UC Rusal cuts capacity by 300kt
UC Rusal, billed as the world's largest producer of primary aluminium, has announced that it will be cutting production at its less efficient smelters by 300kt by the end of 2013. The planned cuts, which have now been approved by Rusal's board, are designed to maintain the company’s competitive...
Industrial Metals Advance as U.S. Data Show Economy Improving
Aluminum in London rose to a one- week high and copper climbed for a third day amid speculation that an improving U.S. economy will drive prices higher, prompting Chinese users to place orders. Aluminum for delivery in three months gained as much as 0.6 percent to $1,993 a metric ton on the London...
Aluminum prices depressed economic data
Aluminum prices depressed. China's industrial production data were disappointing, raising fears the market would demand for industrial metals, including aluminum will remain weak. Price of aluminum for three-month delivery on the London Metal Exchange (LME), Monday (11/3), fell 0.69% to U.S. $...
Aluminium futures rise on spot demand, global cues
Aluminium prices edged up by 0.33 per cent to Rs 106.45 per kg in futures trade on Wednesday as participants enlarged their positions, supported by a firming trend overseas. Further, strong demand in the spot markets also influenced metal prices. At the Multi Commodity Exchange, aluminium for...
China ADC12 spot offers under pressure as trades fail to pick up
China's domestic spot aluminum alloy offers were under pressure as trading activity has failed to pick up, and also due to weak London Metal Exchange aluminum ingot prices, market sources said Tuesday. Leading Chinese producer Sigma Metals held its offer steady at Yuan 17,100/mt ex-works...
LME aluminum should fluctuate between USD 1,950-1,990/mt on Wednesday: SMM Morning Review
Markets are cautious ahead of the release of US February economic indicators due later this week. Shorts liquidated positions to avoid risks after the US dollar index plunged overnight, helping LME aluminum regain support at near the 10-day moving average and hit a high of USD 1,986.8/mt. LME...
Global Market view on Aluminium
LME three months prices were trading below $2,000/t at the time of writing. Sentiment remains weak amidst the potential turmoil in the Eurozone caused by the gridlock in Italian general elections, the US government sequester coming into effect on March 1, and disappointing data out of China. In the...
EGoM to decide on Nalco stake sale floor price
An inter-ministerial panel is likely to decide tomorrow the floor price for 12.5 per cent stake sale in Nalco, which can fetch around Rs 1,400 crore to the exchequer at current rates. The Empowered Group of Ministers (EGoM) on disinvestment, headed by Finance Minister P Chidambaram, is scheduled to...
Aluminium price high boosts the outlook for growth
Aluminium prices rebounded on Thursday, lifted by a strong euro and better-than-expected U.S. data that boosted the outlook for growth, but slow demand from top consumer China may keep further gains in check. Aluminium gained 1.3 percent to finish at $1,979 a tonne. Investors were encouraged on...
Alumina Ltd. shares rise high
International companies trading in New York closed sharply higher Tuesday after the Dow Jones Industrial Average surged to a new record. Alumina Ltd. shares rose 2.6% to $4.69 after logging a drop of more than 4% on Monday. Shares of Sims Metal Management Ltd. (SMS, SGM.AU) gained 1.5% to $10.57.
Sanford C. Bernstein reaffirms Glencore International’s outperform rating
Glencore International‘s stock had its “outperform” rating reaffirmed by research analysts at Sanford C. Bernstein in a report released on Wednesday. They currently have a $7.14 (475 GBX) target price on the stock. Glencore International opened at 389.05 on Wednesday. Glencore International has a...
Aluminium futures fall 0.14 pc on global cues at the Multi Commodity Exchange
Aluminium futures prices today fell marginally by 0.14 per cent to Rs 106.10 per kg in as speculators offloaded positions driven by weak global trend. At the Multi Commodity Exchange, aluminium for delivery in March declined by 15 paise, or 0.14 per cent, to Rs 106.10 per kg in business turnover of...
Rusal dismisses shareholder's criticism as "Unbashed Populism"
United Co. Rusal PLC, the world's largest aluminum producer, on Tuesday dismissed a key shareholder's criticism of the company's plans to cut annual output by 7% as "unabashed populism." Sual Partners had called Rusal's plan to cut production by 300,000 metric tons at its less-efficicient smelters...
Aluminium price declined sharply after Chinese spring festival holiday
Aluminium price declined sharply both inside and outside China after Chinese spring festival holiday. The price drop ranges of London aluminium and Shanghai aluminium are near 9% and 3%. Meanwhile alumina price in China keeps falling. Market prices in Shanxi, Shandong and southern China are near...
