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 market creaks under weight of financing deals
The $80-billion aluminium market is starting to crack under the weight of finance deals that have locked up millions of tonnes of the metal as collateral in warehouses. For years, financial institutions have been buying physical aluminium and simultaneously selling futures. Stock financing is...
China Aluminum Stockpiles at Record High
Aluminum inventories in China’s main trading regions are estimated to have climbed to a record as supply growth outpaces demand in the largest user and producer, adding to a global glut of the lightweight metal. Reserves expanded to 1.119 million metric tons from 750,000 tons a year ago, according...
Export of Chinese Aluminium Cable Increased Four Years in a Row
China exported 121,921 tonnes of aluminium cable, aluminium braid and other similar products(non aluminium steel core cable) in 2012, increased 5.4%. As the forth year of increase since 106,138 tonnes in 2008, it is better than the time before the financial crisis. The main market inside the...
Aluminium futures fall 0.99% on global cues
Aluminium prices fell by 0.99 per cent to Rs 114.70 per kg in futures trading on Monday as speculators offloaded their positions driven by weak global trend. At the Multi Commodity Exchange, aluminium for delivery in February declined by Rs 1.15, or 0.99 per cent to Rs 114.70 per kg in business...
Aluminum Drops Most in Three Weeks as Industrial Metals Fall
Aluminum in London declined by the most in three weeks as markets in Shanghai reopened after a week-long holiday amid expectations of growing supplies. Copper, zinc, lead, nickel and tin also fell. Aluminum for delivery in three months fell as much as 1.2 percent to $2,143 a metric ton on the...
Aluminium futures trade higher on overseas cues
Aluminium prices traded higher by 0.35 per cent to Rs 114.05 per kg in futures trading as speculators enlarged their positions in tandem with a firming global trend. At the Multi Commodity Exchange, aluminium for delivery in February traded higher by 40 paise, or 0.35 per cent to Rs 114.05 per kg...
US aluminum producer Novelis sees solid demand despite Q3 headwinds
US aluminum producer Novelis faced a challenging fiscal third quarter, with net sales down 6% from the year-ago period, but saw improved demand compared with last year and was optimistic about solid global demand moving forward, President and CEO Phil Martens said Tuesday. In a third-quarter...
Aluminium Foil Deliveries in Europe positive in 2012, optimistic outlook for 2013
The moderate increase in demand and deliveries for aluminium foil products from European manufacturers, seen during the first three quarters of 2012, was maintained in Q4. The year ended with total production up 2.1% at 818,400t (2011: 801,600t) according to the European Aluminium Foil Association...
Banks unwind aluminium financing deals
Several big banks are unwinding the lucrative financing deals that tie up millions of tonnes of aluminium as collateral in warehouses, but the activity is flourishing as eager rivals enter it or expand. For years a handful of banks have been buying up aluminium and simultaneously selling it forward...
Norsk Hydro expects recovery of aluminum
The global aluminum production is expected to continue its recovery this year after bottoming out in the course of 2012, Norsk Hydro said on Tuesday on the occasion of the publication of quarterly figures exceeded expectations. The Norwegian group, one of the largest aluminum producers in the...
The disinvestment of NALCO to to hit the market after the Budget
The disinvestment of NALCO (The National Aluminium Company), which could fetch Rs 1,400 crore to the exchequer, is likely to hit the market during the first week of March after the Budget to ensure it is not impacted by volatility in the stock-markets. The department of disinvestment (DoD) will...
China Aluminium imports and exports decline in January
A sharp contraction of Aluminium and Aluminium products was noted in China imports and exports. The General Administration of Customs came out with a brief report on the imports of metals showing that Aluminium and Aluminium product imports declined by 26.2% in the month of January. The total...
Aluminum Stumbles in the Base Metal Market
The cash price of primary Indian aluminum fell 1.2 percent on Feb. 6, 2013, making it the day’s biggest mover on MetalMiner’s daily pricing service. On the LME, the primary aluminum cash price declined 0.2 percent to $2,074 per metric ton. Also on the LME, the aluminum 3-month price held steady...
European banks begin trading swaps designed to protect aluminium users
Banks in Europe have begun trading swaps designed to protect industrial users of aluminium - who already have to pay steep premiums above the London Metal Exchange (LME) cash price to get hold of metal - from yet bigger surcharges. Banking and industry sources say customer enquiries on using the...
Noranda Aluminum Shares Down 1.2%
Noranda Aluminum, a company whose shares are moving quickly, is trading 1.2% lower to $5.81. The S&P is currently trading fractionally lower to 1,509 and the Dow Jones Industrial Average is trading 0.2% lower to 13,945. In the past 52 weeks, shares of Noranda Aluminum have traded between a low of...
Century Aluminum Down 0.1% Since Last Week's Downgrade
One week ago Century Aluminum was downgraded from Neutral to Sell at Goldman Sachs. The stock closed at $8.85, which is 0.1% lower than the price one week ago ($8.86). Century Aluminum is currently priced 11.8% above its average consensus analyst price target of $7.70. Century Aluminum shares have...
NALCO gets a neutral rating
Motilal Oswal has maintained neutral rating on NALCO with a target of Rs 42, in its January 31, 2013 research report. “Nalco reported EBITDA of INR1.8b, above our estimate of INR980m, as the impact of mine closure on alumina production was lower-than-expected. Adjusted PAT increased to 132% YoY to...
Excess capacity in China’s electrolytic aluminum industry continues poses a threat
At present,aluminum industry focus on the current situation of excess capacity,how it forms and how to solve it. As reported,two enterprises with first-class equipment,advanced management and serious cost control saw a loss of more than 0.3billion yuan of major works in 2012,which was learned about...
