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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Housing market gloom effects CSR Construction Company
Construction products company CSR fears the soft housing market and low Aluminium prices will be a drag on its first half earnings. CSR managing director Rob Sindel told the company's annual general meeting on Thursday that earnings will be weighted to the second half of the year, which ends on...
Alcoa results dent market confidence
While Alcoa Inc. (US:AA) kicked off the latest earnings season with an unexpectedly small loss, it did little to calm analysts’ concerns that slumping commodity prices mirror a weak economy and could further erode investor confidence. Aluminum producer Alcoa, as the first of the 30 Dow Jones...
Toronto stock market fell about one per cent
The Toronto stock market fell about one per cent Tuesday as further indications of a slowing Chinese economy helped extinguish early optimism arising from a better than expected earnings report from U.S. aluminum giant Alcoa Inc. The S&P/TSX composite index dropped 122.45 points to 11,512.22 its...
Aluminium prices fell by 0.43% to Rs 105.20 per kg
Aluminium prices fell by 0.43% to Rs 105.20 per kg in futures trade today as speculators offloaded their positions tracking a weak trend in overseas markets. At the Multi Commodity Exchange, aluminium for delivery in July declined by 45 paise, or 0.43%, to Rs 105.20 per kg, with a business turnover...
Russia Aluminum Exports up 17% in Jan-May
Russia exported in January-May 1.572 million metric tons of aluminum, 17% more than in the corresponding period last year, the federal customs service reported Tuesday. The exported aluminum was worth $3.171 billion, compared with $2.801 billion a year ago. Aluminum exports to countries outside the...
The light metal settled down USD 16.3/mt at USD 1,910/mt: SMM Morning Review
The sharp contraction in Chinese imports in June pushed the US dollar index to test resistance at 83.5, weakening momentum of commodities. LME aluminum struggled at the 5-day moving average without any breakthrough, hitting a high of only USD 1,930.5/mt. The light metal retreated to losses at the...
Alcoa to benefit from higher aluminum prices
Alcoa Inc. should benefit from slightly higher aluminum prices this year and next year, but analysts disagree how much that will affect profits. After the markets closed Monday, Alcoa reported it slid to a second-quarter loss from a year-ago profit due to weak aluminum prices and hefty quarterly...
Reopening Ravenswood plant is important: Century CEO
Century Aluminum's president and CEO said Monday that he and his company remain dedicated to reopening the company's Ravenswood smelting plant by the end of the year or early next year. "We are trying to get this plant reopened. We have made good progress over the last nine to 12 months," Michael...
Aluminum Bahrain's sales slightly up in first quarter of 2012
Aluminum Bahrain (Alba) said that its global sales were hit as weaker European economy trimmed demand in the first quarter of 2012, Reuters reported. Alba said output grew by 1.7 percent to 443,533 tons during the first quarter from 436,256 tons a year earlier. The company added that sales were...
Alcoa profit affected by low aluminum price
Aircraft and automobile makers may be using more aluminum, but as long as the metal's price remains near two-year lows, Alcoa Inc will struggle, analysts said on Friday. The average earnings estimate has been cut over the past week from 15 cents per share and Wall Street now expects Alcoa to post...
Aluminum Makers Turn to Middle East for cheaper aluminium production
Aluminum production is tilting toward the Persian Gulf and industry giants Rio Tinto (RIO), Alcoa Inc. (AA) and Norsk Hydro ASA (NHY.OS) are betting heavily that the region can produce aluminum more cheaply and can grab global market share. The rush to lower production costs is intense. The...
Alcoa Earning Preview does not raise much expectations
The world's biggest aluminum maker Alcoa is set to kick start the much awaited earnings season on July 9. Investors and analysts are keenly watching the earnings season to rekindle interest in the stock market that has witnessed somewhat lukewarm or lackluster trading in the second quarter after a...
Good time to buy Aluminium: Destimoney Commodities
Kunal Shah of Nirmal Bang Commodities advises going long on MCX natural gas futures at Rs 161 per MMBTU with a stop loss to be placed below Rs 156 per MMBTU. He reckons that prices would move up and test levels of Rs 168 per MMBTU on MCX. Sumeet Bagadia of Destimoney Commodities feels that...
Edelweiss Securities sees 5-7% rise in Sterlite Industries stocks
Badkar told CNBC-TV18, "I think across metal stocks Tata Steel , Sterlite, Sesa Goa , Hindalco – we have seen good amount of short covering. It looks like the positions aren’t very heavy right now. They seem to be little subdued but all these stocks are by and large on a bullish trend and within...
LME aluminum settled down USD 5.3/mt or 0.27% at USD 1,909.8/mt: SMM Morning Review
Contractions of manufacturing data were reported across China, the US and Europe on Monday, (Euro zone and US data have fallen to their three-year lows in this regard), rekindling investor worries. At the moment investors are waiting for a direction from the coming ECB interest resolution and the...
Chinese Stocks rose after domestic price advanced
Most Chinese stocks rose after the nation’s home prices advanced for the first time in 10 months and manufacturing indicators beat forecasts. Poly Real Estate Group Co., the nation’s second-biggest property developer, surged 2.3 percent as data showed home prices across 100 cities increased in...
Aluminium rises marginally in futures market
Aluminium prices rose by 0.24 per cent to Rs 103.35 per kg in the futures market today in line with a firming trend in base metals at the London Metal Exchange and a pick-up in demand at the spot markets. At the Multi Commodity Exchange, aluminium for delivery in June rose by 25 paise, or 0.24 per...
Alcoa stocks booming despite slow market
Alcoa doesn't need much of an introduction. The company has been at the vanguard of every major aluminum industry innovation for well over a century. With aluminum below the industry's cost of production, plant closures are putting a crimp on supplies. As a result, the world could be headed toward...
