ADC12 consolidates on a strong note as costs rise and orders see marginal improvement
Aluminium scrap: This week, China's aluminium scrap market price centre edged up alongside primary aluminium. As of September 10, SMM A00 aluminium prices closed at RMB 24,560 per tonne, up RMB 210 per tonne from RMB 24,350 per tonne last Thursday. Domestic aluminium scrap prices followed with...
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...
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Commodity Trading Tips for Aluminium by KediaCommodity
Aluminium yesterday traded with the negative node and settled -0.27% down at 112.1 tracking LME three-month aluminum ended positively for a seventh consecutive trading day on Tuesday, closing USD 9/mt or 0.39% higher at USD 2,327/mt as positive expectations for ECB refinancing operation and...
East China Aluminum: Transactions Show No Improvements with Tight Cash Flow by Month End
Traded prices of spot aluminum in Shanghai were between RMB 15,880-15,910/mt on Wednesday, with discounts of RMB 130-160/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 15,980-16,020/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB...
Aluminum now technically in bull market
Aluminum prices have “officially entered into a technical bull mode” after prices closed above the 200-day moving average for two consecutive days and also met other key technical standards, said Harbor Intelligence in a research note. “Since 2003, when these conditions have been met, LME aluminum...
Norsk Hydro Falls as Aluminum Surplus May Increase:
Norsk Hydro ASA (NHY), Europe’s third- largest aluminum producer, fell the most in almost two weeks in Oslo trading after an analyst report predicted a worsening of oversupply in the global aluminum market in 2012. The shares fell as much as 3.2 percent, the most since Feb. 14 and were down 2.3...
Aluminium Outlook Dependent On China, Europe
While the future of the European Union has come into question given the sovereign debt issues of the region, Deutsche Bank remains of the view Europe will stay united as financial stabilisation will eventually be achieved. Assuming this occurs Deutsche expects risks relating to the region may be...
Global aluminium demand rises 6% in 2011, production up by 6.2%: WBMS
Global aluminium demand advanced sharply by 6% in 2011while its production increased by 6.2%, according to the data released by World Bureau of Metals Statistics (WBMS). According to WBMS, primary aluminium demand increased by 2389 kt to 42.45 million tons in 2011 and production gained by 2540 kt...
India's investment in aluminium on track as prices set to rise
Rising costs in the aluminium business and sluggish market conditions have crimped the margins of aluminium firms in India. Though three firms in the sector have posted a decline in third quarter earnings, new investments in ramping up production are clearly on track. Aluminium, on the London Metal...
Shanghai Metals Market Morning Review - 2012/2/27 Aluminum Market
LME three-month aluminum surged USD 47.3/mt or 2.08% last Friday to USD 2,321/mt, a record high since September 21, 2011, backed by strong short covering with a rebound in euro and New York crude’s marching towards USD 110/bbl. Positions of the contract dropped 2,538 lots while transacted contracts...
UPDATE 1-Century Aluminum Posts Loss on Higher Costs
Century Aluminum posted a fourth-quarter loss, hurt mainly by higher costs. Net loss was $31.1 million, or 35 cents per share, compared with a profit of $65.3 million, or 64 cents per share, a year ago. Revenue rose slightly to $318.2 million. Costs for sold goods rose 20 percent to $331.8 million....
Aluminium down 0.14% on sluggish demand
Aluminium prices edged lower by 0.14% to Rs 110.20 per kg in the futures market, tracking a weak trend in global markets and subdued domestic demand. At the Multi Commodity Exchange, the February contract for aluminium shed 35 paise, or 0.14%, to Rs 110.20 per kg, with a business volume of 188...
January annualized global aluminum production lowest in 10 months
Global aluminum production, on an annualized basis, fell to a 10-month low in January, said Harbor Intelligence in a research note. According to Harbor, daily primary aluminum production declined by 0.9% from the prior month, or 388,548 annualized metric tons, to a run rate of 43 million tons. This...
Hold Hindalco, target Rs 150: HDFC Securities
HDFC Securities has given a hold recommendation on Hindalco with a target price of Rs 150. The stock has risen 38 per cent from the start of the year and is now trading at 5.7 times FY13EV/EBITDA. "We like the company for its hedged aluminium price play and stable cash flows from Novelis, potential...
Rusal Falls in Moscow as Aluminum Futures Decline in Shanghai
United Co. Rusal, the world’s largest aluminum producer, led declines in the Moscow-based Micex Index as aluminum futures fell for a second day in Shanghai. Rusal’s Russian depository receipts dropped 4.1 percent, the biggest intraday decline since Dec. 16, to 247.41 rubles by 12:24 p.m. in Moscow....
Aluminium up 0.28% on rising demand
Buoyed by a firming trend in base metals at the London Metal Exchange (LME), aluminium prices rose by 0.28% to Rs 106.30 per kg in the futures market today. At the Multi Commodity Exchange, the February contract rose by 30 paise, or 0.28%, to Rs 106.30 per kg, with a business volume of 229 lots....
Guangxi Baise Aluminum Industrial Output Reaches Hundred Million Yuan Per Day
It is learned of that Baise City overcame coal and power shortage, market sluggish and increased production cost that produced alumina 5292.1 thousand tons, electrolytic aluminium 417.1 thousand tons, aluminum products 712.6 thousand tons, carbon 506.3 thousand tons and caustic soda 180.5 thousand...
Commodity wrap: Data sends mixed signals
Aluminium prices fell to their lowest in three weeks following the declining trend across industrial metals amid fears of a Greek default in addition to disappointing economic data from China. But positive data from the US, one of the triggers for the commodity rally since January, reduced losses...
UC Rusal aluminum production capacity loss
As a result of aluminum price decline at the end of 2011, a significant share of the world and European primary aluminum capacity has become unprofitable, resulting in partial or total closing of some smelters. In UC RUSAL's view, a further 6% to 8% of global capacity curtailments are to be...
Norway's Hydro says aluminium industry faces challenging time
The aluminium industry is facing a challenging time as producers tackle high input costs and lower prices for aluminium and aluminium-related products, Norwegian producer Norsk Hydro's CFO said Thursday in an interview. "For many players it's still challenging, there is always more you can do," CFO...
