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....
Grow with
AL Circle
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....
Norsk Hydro expects quarter three to be "very weak"
Norwegian aluminium producer Norsk Hydro sees further gloom on the aluminium market with weak results expected in the third quarter, its top executive said on Tuesday. "With the LME price we see today, and the uncertainty in the macro economy going forward, we expect that the third quarter will be...
Aluminium prices may fall further: Sucden Financial
Aluminium prices may have further to fall as sentiment continues to become more bearish on the eurozone debt crisis and slower economic growth in the US, Sucden said in its quarterly metals report Wednesday. The brokerage said that there were a lot of "cross currents" affecting the aluminium market...
Kaiser Aluminum second-quarter results beat market expectations
Specialty aluminum products Kaiser Aluminum Corp's second-quarter results beat market expectations on strong demand from the aerospace and automotive sectors. Net income rose to $21 million, or $1.09 per share, from $4 million, or 21 cents per share, a year earlier. Excluding items, the company...
Century Aluminum posts second quarter loss
Century Aluminum Co swung to a second-quarter loss as lower aluminum prices offset rise in shipments. Net loss was $12.3 million, or 14 cents a share, compared with a net profit of $24 million, or 24 cents a share, the company said. Revenue fell 12 percent to $323.6 million. Shipments of primary...
Noranda Aluminum stocks declared oversold
In trading on Monday, shares of Noranda Aluminum Holding Corp (NYSE: NOR) entered into oversold territory, changing hands as low as $6.17 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of...
Alumina Ltd shares entered oversold territory
In trading on Monday, shares of Alumina Ltd entered into oversold territory, changing hands as low as $2.70 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is...
Front end spreads tightening for LME Aluminum: Barclays
Front-end aluminum spreads are continuing to tighten on the London Metal Exchange, which is bucking the trend seen in other base metals, according to Barclays Capital in a commodity research note. The most recent close for front-end aluminum spreads was a contango of just over $26 a metric ton,...
June's daily aluminium output drops to 67,700 T
Daily average primary aluminium output in June dropped to 67,700 tonnes compared with 67,900 in May and 70,000 in June 2011, figures from the International Aluminium Institute (IAI) showed on Friday. Total production in June was 2.030 million tonnes, compared with a revised 2.106 million tonnes in...
Bargain hunting helps Aluminium to buoy at MCX: Dani Commodities
Dani Commodities has come out with its report on MCX Aluminium, Gold, Silver, Copper, Lead, Zinc, Nickel, Crude Oil and Natural Gas. According to the research firm, Aluminium is likely to find support at Rs 104.1 per kg and Rs 103.6 per kg and resistance at Rs 105.2 per kg and Rs 105.5 per kg....
Chalco is showing bearish trend
Aluminum Corporation of China Limited, also known as Chalco, is a producer of alumina and primary aluminum in China. The Company refines bauxite into alumina and smelts aluminate to produce primary aluminum. The company suffers from industrial commodities low prices. From a fundamental viewpoint,...
Vedanta's MALCO Aluminium sold 57,921,364 shares at Rs 9.50 on the BSE
On July 18, 2012 BNP Paribas Arbitrage has bought 69,000,000 shares of Future Ventures India at Rs 9.50 on the BSE. However, The Madras Aluminium Company limited sold 57,921,364 shares at Rs 9.50 on the BSE. At 13:55 hrs the share was quoting at Rs 8.70, down Rs 0.13, or 1.47%. It was trading with...
Orkla to shut more aluminium plants in Europe
Norwegian food and industrial conglomerate Orkla plans to close more aluminium plants in Europe after its markets deteriorated more than it expected, particularly in areas worst hit by the debt crisis. The company, which aims to sell many of its disparate businesses to focus exclusively on its...
Aluminium settled at Rs 104.7 per kg on Wednesday, 18 July AT MCX
Aluminium buoyed by 0.5% or R 0. 5 at R 104.7 per kg on Wednesday, 18 July and tested an intraday high at R 105 per kg and low at R 104.1 per kg. Aluminium was in downtrend since June 2012 and ended tad higher on Wednesday bolstered by some bargain hunting with 12% dip in its open interest to 9809...
Standard & Poor's Ratings lowers 2012 nickel, aluminum price forecasts
Standard & Poor's Ratings Services has lowered its price assumptions for nickel and aluminum for the rest of this year, noting that "most metals prices are unlikely to fall much further under our base-case scenario for 2012." "Our revised assumptions take into account the notable decline in spot...
S&P lowers aluminum price assumption for 2012 second quarter to $1,980/mt
Standard & Poor's Ratings Services has lowered its price assumption for aluminum to $0.90/lb ($1,980/mt) for the rest of 2012, from $0.95/lb ($2,090/mt) in January, the company said last Thursday in a report. S&P attributed the move to an 11% decline in aluminum spot price since January, which it...
Aluminium prices to increase by 10% in 2-3 months- B L Bagra, Nalco
Aluminium prices may rise by up to 10% in 2-3 months to USD 2,000 per tonne due to subdued supply in the international market, Nalco Chairman B L Bagra said today. "The price of Aluminium should recover from the present level of USD 1,850 a tonne. In the next 2-3 months, it should cross USD 2,000...
Century Aluminum shares fall below previous 52-week low
Shares of Century Aluminum (NASDAQ:CENX) traded at a new 52-week low today of $6.20. So far today approximately 2.9 million shares have been exchanged, as compared to an average 30-day volume of 1.2 million shares. Potential upside of 39.2% exists for Century Aluminum, based on a current level of...
