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 group Trimet reports loss in first quarter
For the first time in its history, the German aluminium concern Trimet has reported a loss. Despite full order books, the Essen-based company posted a loss of €44.4m for the business year ended 30 July, the company said on Friday. A year earlier, the Trimet group reported earnings of €32.6m. The...
RUSAL sees refinancing deal within 6 months
RUSAL, the world's largest aluminum producer, expects to reach a deal with lenders within six months to refinance part of an $11 billion debt burden and will agree new loan conditions by the end of 2012, before its covenant "holiday" expires. RUSAL's head of equity and strategic development, Oleg...
Rise in LME price expected to boost Aluminum shipments in North America
A continued run-up in the London Metal Exchange aluminum price and the Federal Reserve’s recent decision to extend quantitative easing could boost aluminum shipments from North American distributors in the coming months, market sources said. "I’m optimistic for the next few months. The metal...
Alcoa shares downgraded from Buy to Hold
Alcoa, like other metals and mining companies, caught a nice tailwind last week when the Fed announced its big new asset-buying program. But Alcoa’s recent strength may fall off in the face of an ongoing surplus in the aluminum industry, notes Jefferies analyst Peter Ward, who downgraded shares to...
Aluminium futures in India soften on lower global trend
Aluminium prices softened by 0.52 per cent to Rs 115.50 per kg in futures market today due to lower global trend. At the Multi Commodity Exchange, aluminium for delivery in October traded lower by 60 paise, or 0.52 per cent, to Rs 115.50 per kg, with a business turnover of 328 lots. Similarly, the...
Aluminum Alloy Ingot Price shows Limited Growth possibility
According to the research results that aluminum alloy price was increased slightly in East China, Southern China and southwest, market supply volume increased also, weak consumption limited the growth space. It is learned that newly added output in some large manufacturers in East China was put...
Aluminium futures are trading uptrend for long time on the MCX
MCX Aluminium futures, traded on the MCX (Multi Commodity Exchange of India), have been on a long-term uptrend ever since bottoming out at February 2009 low around Rs 62. It closed at Rs 116.95 per kg on Friday. However, after marking a peak at Rs 124 in May 2011, the commodity reversed its...
Russal copnsiders Aluminum financing deals to be still profitable
Financing deals tying up aluminum inventories are still profitable as interest rates remain at historical lows, a status quo that is likely to last for some time, a senior executive at United Co. Rusal said Thursday. "The current positive forward curve, low interest rates and growing premiums...
RUSAL expects global aluminium supply cuts in next 6-9 months
The main owner of Russia's RUSAL , the world's largest aluminium producer, said an overhang of aluminium should be reduced through production cuts and said stocks should be slashed to get rid of loss-making supplies. Oleg Deripaska, also the aluminium giant's CEO, said he expected global aluminium...
Government to divest 12.5% in NALCO
According to sources, Government is going to divest 12.5% in NALCO , 9.59% in Hindustan Copper , 10% in Oil India and 5% in Neyveli Lignite , reports CNBC-TV18. National Aluminium Company (NALCO) touched an intraday high of Rs 55.15 and an intraday low of Rs 52.95. At 09:22 hrs the share was...
Investment banks in the aluminium market surging the premiums to record high
The arrival of investment banks in the aluminium market has triggered a shake-up in the $100bn industry that is forcing producers from Alcoa to Rusal and consumers such as BMW and Coca-Cola to change the way they do business. The increasingly dominant role of banks including Goldman Sachs, JPMorgan...
China's metal output up in August, aluminium at record high
China's production of most base metals rose in August, reversing declines in the previous month, with primary aluminium hitting an all-time monthly high, official data showed on Tuesday, as smelters expect demand to improve in the next 3 or 4 months. Metal demand in China, the world's top consumer...
Nalco and NMDC stocks unlikely to rise further
Nalco and NMDC have gained 6% and 2% in market value, respectively, after the government announced plans to divest 12% stake in the former and 10% stake in the latter. But the euphoria may well be short-lived as both these stocks are already trading at significant premiums to their private sector...
European aluminium market affected by Rusal's tender
The European physical aluminium market remained quiet with market participants spending much of the week debating the premium level at which a Rusal tender for 3,000 mt of primary metal was concluded. "There's not a lot of business, that's the reality," one trader said. He added that he had not...
Hindalco shares decline 2% due to downgraded ratings
Shares of Hindalco Industries, country's largest aluminium maker, fell over 2 percent after the foreign research firm Citi has downgraded the stock to a sell. Citi has cut the target price of the stock Rs 118. "A muted aluminum outlook, rising costs in existing operations and less viable project...
Rising aluminium costs worry utensil makers
The festive season, one of the peak times for utensil manufacturers, is a few months away, but manufacturers in the Haryana town of Jagadhri are a concerned lot. Bharat Garg, former president, Federation of All India Aluminum Utensil Manufac-turers Association, says that the sale of aluminum...
South China Aluminum Spot Trading low on slow Demand from Downstream producers
The SHFE 1212 aluminum contract fell along with other base metals, with strong resistance at RMB 15,700/mt. Trading was thin in south China market. Downstream producers purchased as needed, causing traded prices to fall from RMB 15,480/mt to RMB 15,460/mt. Supply was ample, but trading was light.
Reliance Steel & Aluminum ratings downgraded from “overweight” to “neutral”
Reliance Steel & Aluminum was downgraded by JPMorgan Chase from an “overweight” rating to a “neutral” rating in a research note issued on Monday. They currently have a $62.00 price target on the stock, down from their previous price target of $67.00. A number of other firms have also recently...
