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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Global Aluminum Smelting Overcapacity Continues to Persist
Global aluminum smelting overcapacity will continue to persist over the next two to three years despite increasing pressure from higher costs, Tony Rizzuto, managing director and head of metals and mining research at Dahlman Rose & Co., said at the American Metal Market Aluminum Summit. "It's going...
LME aluminum closed down USD 12/mt or 0.6% at USD 1,974/mt: SMM Moring Review
Spain’s EUR 100 billion aids ignited bullishness in the market, but as practical measures are absent, pessimism is waning, pushing up the US dollar index and eroding gains of commodities. LME aluminum hit a high of USD 2,002/mt and closed down USD 12/mt or 0.6% at USD 1,974/mt. Latest LME aluminum...
Goldman cuts 3-month price targets for base metals
U.S. investment bank Goldman Sachs on Monday lowered its 3-month price targets for base metals, citing weaker than expected consumption and a stronger U.S. dollar against the euro. Recent trips across North America confirmed a near complete lack of conviction in the very short-term outlook for...
Goldman Sachs predicts short to medium term risk reward for aluminium
The short to medium term risk reward for aluminium is attractive from current price levels, Goldman Sachs said in a research note Monday. Although the investment bank has lowered its near-term three-months aluminium forecast to $2,200/mt from $2,400/mt, its current base case remains solid on the...
Aluminium demand in North American on the rise
Preliminary estimates of total aluminium demand in the USA and Canada for Q1 2012 totaled 5.8 million pounds, a 7.5% increase over Q1 2011. Compared to April 2011, net new orders of mill products reported by domestic producers increased 3.7%. A significant increase was seen in demand for...
LME aluminum to hover between USD 1,970-2,000/mt: SMM Morning Review
Amid early strong interest rate cut expectations, the PBOC announced Thursday evening to cut one-year deposit and loan benchmark rates by 0.25 percentage point, boosting market confidence. During European trading, LME aluminum got over early weakness and climbed with other metals, breaking through...
Noranda Aluminum Shares Showing Bullish Trend
Noranda Aluminum crossed over its 10-day moving average of $7.73 on a volume of 137K shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term. Noranda Aluminum share prices have moved between a 52-week high of...
Aluminium dropped by 0.2% or Rs 0.25 at Rs 108.4 per kg on 6th June
Aluminium was the only metal that dropped by 0.2% or Rs 0.25 at Rs 108.4 per kg on Wednesday, 6th June and tested an intraday high at Rs 109.75 per kg and low at Rs 107.7 per kg. The open interest also dipped by 15% to 2033 lots and pulled down the metal. Aluminium obtained few gains during the...
Special power rate to Century Aluminum could Increase Electric Bill of consumers
Efforts to bring an aluminum plant to Jackson County could mean an increase in your electric bill. Right now, state leaders are working a deal between Century Aluminum and Appalachian Power, but the arrangement could leave you footing the bill. "It adds up! so I think it is out of the question,"...
Rising Dollar Affects Australian Aluminium Sector
CQ University economist Professor John Rolfe said a rising Australian dollar was just one factor affecting Gladstone's aluminium sector. "The Australian dollar puts businesses under a bit of pressure and the fact that other aluminium plants are downsizing before Gladstone suggests there's more...
Aluminium dropped to 5-week's low at Rs 108.25 per kg
Aluminium dropped to 5-week's low by 0.6% or Rs 0.6 at Rs 108.25 per kg with an intraday high at Rs 108.8 per kg and low at Rs 108.1 per kg on Monday, 4th June. Aluminium recovered huge losses during the morning session and edged up at MCX. The contract traded below 9-day EMA and found to be...
Noranda Aluminum insider Schumacher Alan H buys $ 38,350 worth of stock
Schumacher Alan H purchased 5,000 shares of Noranda Aluminum Holding Corp stock, or $38,350 worth, as noted in an SEC Filing today. As reported in the filing, the transactions occurred on May 31, 2012. After the transaction, Schumacher Alan H's stake was reported as 26,382 shares of Noranda...
Noranda Aluminum shares fallen on Above-Average Volume (NOR)
Noranda Aluminum shares are trading on heavy volume today, having fallen 14.3% to $6.59. About 1.8 million shares have been traded today, as compared to the 30-day average volume of 335,000 shares. Spikes in volume can validate a breakout or signify a potential turning point. SmarTrend recommended...
LME aluminum settled at USD 2,010/mt, down USD 5/mt or 0.25%
Successive downgrades on Spanish debt lead to heavier pressure on the nation’s banks and continue to stir risk aversion. The unexpected plunge in US pending home sales index for April added to market worries. The US dollar index hit 83,116, a record high this year, as investors flocked to the haven...
Bargain Hunting Favoures Aluminium
Aluminium edged up by 0.3% or Rs 0.35 at Rs 110.15 per kg with an intraday high at Rs 110.3 per kg and low at Rs 109.35 per kg on Monday, 28th May. Bargain hunting with 3.4% drop in its open interest to 2193 lots and the improvement in the risk appetite in the global markets favored the sentiment....
China secondary aluminium production may feel global economic pinch in 2012
China's secondary aluminium output could fall this year because of a slowdown in the global economy and "lack of confidence" among buyers, a senior executive from one of the country's biggest producers told Metal Bulletin. "This year is a bit special, and will probably end up with a year-on-year...
Novelis may emerge profitable for Hindalco
Aditya Birla group’s Hindalco Industries, which posted lacklustre March quarter results, may find a saviour in Novelis – the US firm it bought in 2007 for $6billion. Novelis, now its US subsidiary, is expected to report stable or even better-than-expected results on Thursday as it is largely...
LME aluminum settled up USD 4/mt or 0.2% at USD 2,014/mt: SMM Morning Review
The US May Michigan Consumer Confidence climbed to a new high since October 2007, beating expectations. However, debt woes of Greece and Spain continued to weigh on market. LME aluminum hit a high of USD 2,030/mt and fell back to settle up only USD 4/mt or 0.2% at USD 2,014/mt. Strong pressure was...
