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 futures rise on global cues, spot demand
Aluminium prices edged up by 0.66 per cent to Rs 114.35 per kg at futures market on the back of strong domestic demand and firm global cues. At the Multi Commodity Exchange, aluminium for delivery in January gained 75 paise, or 0.66 per cent, to Rs 114.35 per kg, with a business turnover of 58...
Norsk Hydro aims at creating a global leader on Capital Markets Day 2012
Hydro is focusing its Capital Markets Day 2012 on the improvement efforts being made throughout the company, aiming to create a global leader in aluminium. Hydro is expecting world aluminium demand outside China of 2-4% in 2013 and solid global long-term growth of4-6% annually over the next 10...
Aluminum Global Production Growth Slows
According to the World Bureau of Metal Statistics’ most recent report, the market surplus for primary aluminum between January and September 2012 was 488,000 tons, which follows a surplus of 1,871,000 tons recorded for the whole of 2011. Production in January to September 2012 rose by 835,000 tons...
Aluminum Prices Shielded From Surplus
Aluminum prices look likely to remain propped up for some time, as the metal's popularity with nonmanufacturers, who hold the aluminum in anticipation of selling it at higher prices later, outweighs the bearish impact of a sizable production surplus. By all accounts, there is a lot more aluminum...
European physical aluminium market remains focused on 2013 contracts
The European physical aluminium market has seen little spot activity this week with buyers and sellers continuing to negotiate contracts for next year. "There is nothing exciting happening. We are still trying to find the right prices and agreements for next year," one consumer said. He said that...
Hydro CEO talks about the aluminium market scenerio at ARABAL
Norsk Hydro’s CEO Svein Richard Brandtzaeg, speaking in an opening address at the 16th Arabal Conference and Exhibition in Doha, Qatar, spoke of an aluminium industry with a big dilemma. Aluminium, he said, has experienced the highest growth but it lags behind on price because demand has fallen...
German Jan/Sept aluminium output falls 1.5% on year
Low demand in the sluggish economic environment cut German aluminium production in Jan/Sept 2012 to a fall of 1.5 per cent on the year to 790,854 tonnes, German aluminium industry association GDA estimated on Tuesday. "No improvement is expected in the final quarter of the year," the association...
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...
LME aluminium stocks set to hit record 5 mt
Aluminium stocks on the London Metal Exchange (LME) are poised to hit another all-time record above five million tonnes (mt) as soon as next week in a market swamped by a structural surplus. Stocks are also likely to keep touching fresh records throughout next year as no end is in sight to chronic...
Slackening global demand to hit aluminium prospects
The world’s most abundant metal aluminium, has been an under performer in the base metals complex owing to weak demand and rising inventories at LME. The metal that has wide usage in packaging, aerospace, automobiles, construction and power, amongst other sectors, has been witnessing slackening...
Aluminium down in futures trade
Aluminium futures prices fell by 0.19 per cent to Rs 107.30 per kg today as speculators trimmed positions amid a weak trend in metal at the London Metal Exchange. At the Multi Commodity Exchange, aluminium for delivery in November fell by 20 paise, or 0.19 per cent, to Rs 107.30 per kg, with a...
Sterlite Industries share improve in the market
Sterlite Industries' (Sterlite) 2QFY13 consolidated EBITDA, at Rs.25.3bn, was better than estimates, led by above estimated volumes across business segments. PAT, at Rs.17.4bn, was significantly higher than expectations due to forex gains and lower finance expenses. Sterlite will benefit from...
Aluminum, Copper Looking Up in Base Metal Market
Current Aluminum Price Movements Following a two-day decline on the LME, the 3-month price of aluminum climbed up 2.1 percent on MetalMiner’s aluminum price index to end at $1,948 per metric ton on Nov. 13, 2012. Following a 2.1 percent rise, the primary aluminum cash price closed on the LME at...
Russian tycoon Deripaska increases stake in RUSAL
Oleg Deripaska's En+ Group topped up its shareholding in UC RUSAL , where he faces a slide in profits on the back of a weak aluminium market and a possible boardroom revolt by two fellow mining tycoons who also hold stakes in the company. The company said Deripaska's investment vehicle bought...
Outlook for non-ferrous metals weak in near-term, says ICRA
Near-term demand outlook for non-ferrous metals is likely to remain subdued due to continuing global economic sluggishness, an ICRA report said. “With China being the leader in production and consumption of aluminium, copper and zinc, a moderation in Chinese industrial output over the last few...
Aluminum on Verge of Rebound
Slightly higher prices on the London Metals exchange are helping the aluminum industry but demand will need to pick up significantly for a lasting recovery to begin. Recent performances from producers like Alumina Limited and Noranda Aluminum Holding Corporation have been encouraging but numerous...
China domestic alloy ADC12 prices slip on weak demand
Offer prices for aluminum alloy ADC12 in China's domestic market inched down this week as a prolonged period of weak demand continued, local industry sources said Tuesday. Leading producer Sigma Metals kept its offers at Yuan 17,100/mt ($2,719/mt) ex-works Tuesday, unchanged from last Tuesday. Most...
Shares of Century Aluminum up 2.6%
Century Aluminum is one of today's notable stocks on the rise, up 2.6% to $7.57. The Dow Jones Industrial Average is now trading 0.5% higher to 12,881 and the S&P is trading 0.9% higher to 1,390. There is potential upside of 42.7% for shares of Century Aluminum based on a current price of $7.57 and...
