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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European physical aluminium slow as seasonal holiday approaches
Spot demand in the European physical aluminium market remains weak with little market activity reported as the seasonal holiday approaches. "There's nothing going on. Just a little end of year stuff," said one European trader. The trader said that business had pretty much been completed for the...
Aluminium in surplus during January-October 2012
World Aluminium markets remained in a surplus of 143000 tonnes in the first ten months of 2012, this was following a surplus of 1.87 million tonnes recorded in the full year ended 2011. World Bureau of Metal Statistics (WBMS) said that total reported stocks were 7.23 million tonnes at the end of...
Vale to book $4.2 billion charge for nickel and aluminum assets
Vale SA, the world’s largest iron- ore producer, said it will book a $4.2 billion fourth-quarter charge after lowering the valuation of a nickel mine and its stake in aluminum producer Norsk Hydro ASA. (NHY) Vale will take a $2.85 billion pretax writedown on its Brazilian nickel project Onca Puma...
Aluminium makers drop as Alcoa ratings go down
Sterlite Industries (India) (down 1.13% at 118.45), National Aluminium Company (down 0.31% at Rs 48.75), and Hindalco Industries (down 0.04% at Rs 129.30), edged lower. Meanwhile, the BSE Sensex was down 24.71 points or 0.13% at 19,451.29. Shares of Sterlite Industries (India) outperformed the...
Japan's aluminum auto scrap dealers eye exports as local demand slows
Japanese aluminum auto shred scrap suppliers are eyeing exports as local demand has slowed on the back of falling car production since October, market sources said Tuesday. Spot inquiries for scrap aluminum exported from Japan to Asian countries rise at this time of the year as scrap yards close in...
Rising China's Aluminum production aggravates supply surplus
Mainland China's aluminum output remains strong, meaning the market is still not getting the supply cuts necessary to start whittling down ample global supplies, said Barclays Capital in an assessment of a report on Chinese base metal output in October. According to the British bank, copper and...
Aluminium futures rise on global cues, spot demand
Aluminium prices moved up by 0.22 per cent to Rs 115.45 per kg at futures market, taking positive cues from the global markets and strong domestic demand. At the Multi Commodity Exchange, aluminium for delivery in January gained 25 paise, or 0.22 per cent, to Rs 115.45 per kg, with a business...
Nalco shares gain on aluminium price hike buzz
On BSE, 60,242 shares were traded in the counter as against an average daily volume of 71,374 shares in the past one quarter. The stock hit a high of Rs 48.15 and a low of Rs 47.15 so far during the day. The stock had hit a 52-week high of Rs 68.45 on 16 February 2012. The stock had hit a 52-week...
LME aluminum should move between USD 2,115-2,135/mt on 17th Dec: SMM Morning Review
The upbeat flash manufacturing PMI in China and the US for December boosted market confidence. However, manufacturing activity in the euro zone contracted in the fourth quarter, clouding market outlook. A weaker US dollar failed to give a lift to commodity prices. LME aluminum found it high at USD...
Aluminium futures down 0.22 per cent
Aluminium futures prices declined by 0.22 per cent to Rs 115.25 per kg today as speculators offloaded their positions, triggered by a weakening trend in base metals in the global markets. At the Multi Commodity Exchange, aluminium for delivery in January edged lower by 25 paise, or 0.22 per cent,...
Orbite sees steady market growth as demand intensifies
The price of alumina is expected to crest and stabilise at about $330/t by the end of the year, buoyed by strong demand from the construction and high-technology sectors, Quebec project developer Orbite Aluminae CEO Richard Boudreault believes. The alumina market is expected to expand by about 6% a...
China Copper, India Aluminum Up in the market
Dropping 1.5 percent on the LME, the aluminum cash price was the biggest mover on Dec. 10, 2012, closing at $2,078 per metric ton. Also on the LME, the 3-month price of aluminum declined 1.5 percent to $2,077 per metric ton. The cash price of primary Indian aluminum rose 1.4 percent. Chinese...
Aluminium futures up on strong global cues
New Delhi, Dec 10 (PTI) Aluminium futures prices rose by 0.31 per cent to Rs 114.05 per kg today as speculators enlarged positions, supported by a firming trend in base metals in the global markets. At the Multi Commodity Exchange, aluminium for delivery in January up by 35 paise, or 0.31 per cent,...
China Exports of Unwrought Aluminium Increases in November
China exports of unwrought Aluminium and Aluminium product imports increased in the month of November. This indicates that the spot demand for the metal in the country is down and this is resulting in China stepping up its exports. Total unwrought Aluminium exports were 49788 tonnes in the month of...
LME aluminum should move between USD 2,050-2,100/mt on Friday: SMM Morning Review
The Bank of England and European Central Bank (ECB) decided overnight to leave interest rates unchanged. The ECB revised down its economic forecast for the euro zone for the year of 2012 and 2013, increasing market worries and causing the euro to plunge. No progress had been made on the US budget...
Kaiser Aluminum Has Returned 11.2% Since SmarTrend Recommendation
SmarTrend identified an Uptrend for Kaiser Aluminum on July 27th, 2012 at $54.65. In approximately 4 months, Kaiser Aluminum has returned 11.15% as of today's recent price of $60.74. In the past 52 weeks, Kaiser Aluminum share prices have been bracketed by a low of $40.12 and a high of $61.60 and...
Russian aluminium manufacturers are safe in the current market scenario: Frost & Sullivan
The application range for aluminium products is steadily expanding. To address changing end-user needs and survive intense competition, manufacturers are modernising their production facilities and broadening their product portfolios. In Russia, manufacturers have the added challenge of dealing...
Aluminium futures marginally up on spot demand
Aluminium prices edged up by 0.13 per cent to Rs 115.75 per kg at futures market as speculators created fresh positions, supported by rising demand at spot markets even as metal weakened overseas. At the Multi Commodity Exchange, Aluminium for delivery in January gained 15 paise, or 0.13 per cent,...
