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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More production cuts needed for Aluminum price recovery
The aluminum price briefly touched a three-year low of $ 1,827.25 per ton on the London Metal Exchange (LME) last week. It managed to avoid falling off a technical cliff, just, but the pressure is still on, three-month metal already trading as low as $1,830 in early trading yesterday. Analysts are...
2.1% reduction in daily aluminium production run-rates in July – Standard Bank
According to data released recently by the IAI, daily aluminium production run-rates decreased 2.1% in July, compared to the record 125.5 ktpd output registered in June. It is mainly due to cutbacks in China but, as Leon Westgate from Standard Bank points out, “with seasonal factors in China likely...
Vedanta expects India's aluminium export to rise 5 pct
India's aluminium exports could rise 5 percent in the current fiscal year to 325,000 tonnes, despite a slowdown in global demand, a senior industry official said, as falling prices have led rival global producers to cut production. Declining aluminium prices have forced major players such as Alcoa...
Global Aluminum Market in 381,000-ton Surplus Jan-Jun
The global aluminum market was in surplus by 381,000 metric tons in the first six months of the year, the World Bureau of Metal Statistics said Wednesday. This compares with a surplus of 1.798 million tons in the whole of 2011. Global demand for primary aluminum in the first six months of 2012 rose...
Aluminum price hit by a supply overhang: Novelis CEO
Aluminum prices are likely to stay near their current low levels for the next nine to 12 months, pressured by a supply overhang of the lightweight metal, the chief executive of aluminum products maker Novelis Inc. said Tuesday. Benchmark aluminum prices on the London Metal Exchange have traded near...
Aluminum company shares expected to climb
Aluminum company shares are poised to return more than the metal they make as financial contracts mask a glut by limiting supplies and raising costs for buyers. United Co. Rusal, the biggest producer, will climb 29 percent in Hong Kong trading and Oslo-based Norsk Hydro ASA, 27 percent, the average...
Ormet Workers future stuck in uncertainty
A complete shutdown of Ormet Corp.'s Hannibal Primary Aluminum Reduction Plant would leave 1,000 employees out of work, a situation Tom Byers said he is doing everything he can to avoid. However, Ormet officials noted they may have to lay off the workers because of metal market pressures and rising...
Russia's Basic Element to start trading grain directly
Russian aluminium tycoon Oleg Deripaska's vehicle Basic Element (BasEl), a longtime investor in agriculture, has decided to start trading grain, aiming to sell direct to world markets instead of through Louis Dreyfus and Glencore. "Basic Element plans to create its own trading structure in order to...
Aluminum Corp. of China stocks look promising despite low trading
Most Asian equities traded lower on Monday as the result of a dearth of major global data points over the weekend. On Chinese exchanges, Aluminum Corp. of China (ACH, quote) was no exception, leading shares in Hong Kong (EWH, quote) downwards. Both Hong Kong and Mainland Chinese indices (FXI,...
CME considering aluminum contract to rival LME: sources
CME Group Inc has canvassed traders in recent weeks about the viability of an aluminum contract to rival that of the London Metal Exchange, which has dominated the $80 billion market for decades, industry sources said. The talks are at an early stage, according to two traders who said the CME had...
Alba turns to debt market to fund a plan to boost production
Aluminium Bahrain (Alba), which is 70 per cent owned by the state, expects to pay similar yields to the government for a record borrowing plan after the nation’s credit risk fell to the lowest in almost a year. The metals maker known as Alba plans to raise $2.5 billion (Dh9.1 billion) from bonds,...
Arabal 2012 presents aluminium prices and market factors
The program of Arab International Aluminium Conference (ARABAL 2012), which will be held in Doha from 20th to 22nd of November 2012, will include a discussion panel on aluminium prices, the related supply and demand factors, and a historical view on the price levels and the prospects in the light...
Kaiser Aluminum shares perform excellent
Shares of Kaiser Aluminum Corp (KALU) are up more than 15% so far in 2012. However, KALU's performance so far in 2012 is very impressive relative to its peers. Other leading Aluminum companies such as Alcoa (AA), Century Aluminum Co (CENX), Alumina Ltd (AWC), and Aluminum Corp of China (ACH) are...
Electrolytic aluminum output increases at a faster rate
Latest statistics from NDRC (National Development and Reform Commission) show that electrolytic aluminum output was 9.505 million tons, increased by 9.7 percent year on year, and the increase rate has risen 4.1 percent year on year. Electrolytic aluminum output has been increasing in recent years...
SHFE 1211 contract opened lower at RMB 15,385/mt on August 1
The most active SHFE 1211 contract opened lower at RMB 15,385/mt on August 1. The three-month contract failed to regain RMB 15,400/mt as contracted July China manufacturing PMI data triggered short selling. It finally closed at RMB 15,385/mt, down RMB 55/mt or 0.36%. Positions were up 1,022 lots to...
KediaCommodity offers Trading Tips for Aluminium
Aluminium yesterday traded with the positive node and settled 0.1% up at 103.55 as rebound in euro and the far-better-than-expected GDP in 2Q in the US supported the prices. It was reported euro zone countries and European central bank plan to intervene the financial market to help lower loan costs...
Metals melt in heat of financial crisis
Industrial metals such as copper, Aluminium and nickel are sensitive to changes in the global economic cycle, because of their uses in construction and manufacturing. So, as expectations for economic growth in Europe, China and the US have been scaled down, prices have fallen to the lowest in...
Aluminum Corporation of China showing Bearish indications
Aluminum Corporation of China (NYSE:ACH) closed Friday's favorable trading session at $10.24. In the past year, the stock has hit a 52-week low of $9.59 and 52-week high of $21.71. Aluminum Corporation of China (ACH) stock has been showing support around $9.83 and resistance in the $10.45 range....
