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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Norsk Hydro Declines as Goldman Cuts Rating to Sell
Norsk Hydro fell the most in a month in Oslo as Goldman Sachs Group Inc. advised selling the shares amid weak demand for the lightweight metal and said Vale SA could sell its stake in the market. Hydro, Europe’s third-largest aluminum producer, fell as much as 3.2 percent, the most since Dec. 7,...
Noranda Aluminum Stock Rating Lowered from a “neutral” to “underperform”
Noranda Aluminum Holding was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a report issued on Tuesday. They currently have a $6.10 target price on the stock. Noranda Aluminum Holding traded down 0.31% on Tuesday, hitting $6.42. Noranda Aluminum Holding has a 52-week low...
Indian aluminium futures down due to profit-booking
Aluminium futures prices today declined marginally by 0.13 per cent to Rs 115.25 per kg largely due to profit-booking by speculators despite a firm trend overseas. At the Multi Commodity Exchange, aluminium for delivery in February edged lower by 15 paise, or 0.13 per cent, to Rs 115.25 per kg,...
Century Aluminum Company Stock Rating Lowered to 'sell'
CRT Capital downgraded shares of Century Aluminum Company from a fair value rating to a sell rating in a research note released on Thursday morning. They currently have $7.00 price target on the stock. Shares of Century Aluminum Company traded up 1.49% during mid-day trading on Thursday, hitting...
Current average rating of Alumina Limited stock settles in 'hold'
Alumina Limited was upgraded by equities research analysts at Credit Suisse from a “neutral” rating to an “outperform” rating in a research note issued to investors on Wednesday. A number of other analysts have also recently weighed in on AWC. Analysts at JPMorgan Chase upgraded shares of Alumina...
Norsk Hydro sticks to its outlook for primary aluminium demand
Norwegian aluminium maker Norsk Hydro maintained its outlook for primary aluminium demand this year, even as rival Alcoa released a bullish projection a day earlier, its top executive said on Wednesday. "We haven't changed our position for the future growth of aluminium," Chief Executive Richard...
Asian stock markets rise after Alcoa's strong demand forecast
Asian stock markets rose Wednesday after the fourth-quarter earnings season got off to a positive start in the U.S. with aluminum giant Alcoa forecasting higher demand for 2013. Demand for aluminum has been hurt by the weak global economy, but Alcoa predicted a 7 percent increase in demand this...
Aluminium Bahrain falls despite production record
The Bahrain All-Share Index erased since the beginning of the year its advances form the last week of Dec. 2012. On Monday, the gauge slipped 0.86% to 1,054.99 points. Aluminium Bahrain or Alba plummeted 2.40% to BD0.41. Earlier in the day, Alba said it reached a production record in 2012 with...
Aluminum ingot demand cloudy
Aluminum P1020 market players remain mixed over how the resolution of the fiscal cliff standoff will impact markets in 2013. Although global markets reacted favorably to Congress avoiding falling off the cliff - the London Metal Exchange three-month aluminum price bumped up 3.6 percent to $2,145.50...
Kaiser Aluminum traded at a new 52-week high
Kaiser Aluminum traded at a new 52-week high today of $63.54. So far today approximately 54,000 shares have been exchanged, as compared to an average 30-day volume of 117,000 shares. Kaiser Aluminum Corporation produces alumina, primary aluminum, and fabricated aluminum products. The Company also...
Century Aluminum's Shares Changing Hands at Higher Prices
Century Aluminum shares are trading on heavy volume today, having risen 7.5% to $9.41. About 1.2 million shares have been traded today, as compared to the 30-day average volume of 801,000 shares. Unusually high volume can signify a potential turning point or validate a breakout. Century Aluminum...
NALCO gains 4% as govt plans to divest over 12%
State-owned National Aluminium Company (NALCO) gained as much as 4.55 percent to touch an intraday high of Rs 51.65 on Wednesday as media reports suggest that the government is looking to divest a little more than 12 percent in the company in February, depending on the company's financial...
MCX Aluminium January contract looks positive
Fortune Financial Servies has come out with its report on bullion, metals and energy. According to the research firm, MCX Silver March Contract is looking slightly negative for the day. Market may find support near 57750 & 57200; intraday resistance can be seen near 58200 & 58700. Day traders can...
Kaiser Aluminum shares come up to Neutral
Zacks cut shares of Kaiser Aluminum from an outperform rating to a neutral rating in a research report sent to investors on Monday morning. The firm currently has $63.80 price target on the stock. Shares of Kaiser Aluminum traded up 1.36% during mid-day trading on Monday, hitting $61.08. Kaiser...
Brass, aluminium fall on subdued demand
Brass and select aluminium prices fell in an other wise a more or less mixed non-ferrous metal market here today stockists selling on the back of subdued demand from industrial users. Elsewere, Tin, lead, zinc and copper utensils rose owing good offtake from alloy and consumer industries. The...
Aluminium futures rise on global cues, spot demand
Aluminium prices today edged up by 0.27 per cent to Rs 112.85 per kg at futures market on the back of strong domestic demand and firm global cues. At the Multi Commodity Exchange, aluminium prices for delivery in December gained 30 paise, or 0.27 per cent, to Rs 112.85 per kg, with a business...
The record glut in aluminum will be no bar to rising prices: Barclays
The record glut in aluminum will be no bar to rising prices because of delays in getting metal from warehouses, even as Barclays Plc advises investors to sell and Morgan Stanley says it has the worst outlook of any commodity. Stockpiles will expand for at least the next four quarters, reaching a...
Aluminium futures marginally down on weak spot demand
Aluminium futures prices declined by 0.17 per cent to Rs 114.10 per kg today as speculators indulged in reducing their positions largely in tune with a weak spot demand. However, gains in copper and other base metals at the London Metal Exchange (LME) capped the losses. At the Multi Commodity...
