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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UC Rusal update on aluminum production on Asia
General growth in Asia varies between the mature market of Japan, which has experienced years of flat growth and China which has been growing at 11% per annum. Whilst we predict that Japan's growth is likely to expand in 2012 with reconstruction after the earthquake and tsunami in March of 2011,...
Norsk Hydro CEO Mulls Further Production Cuts In Australia
Norwegian aluminum producer Norsk Hydro ASA (NHY.OS) said Thursday it is considering reducing production further from its Kurri Kurri plant in Australia, after a write-down on the plant weighed on the company's earnings. Norsk Hydro, Europe's largest aluminum producer, shuttered more than 300,000...
UPDATE 1-China's Primary Aluminum Imports to Fall on Weak Domestic Prices
A recent surge in imports of primary aluminum by China, the world's top producer and consumer of the metal, could hit a wall in April as weak domestic prices drive traders to cut new orders for spot metal, trading sources said on Friday. Slowing global economic growth has cut demand for Chinese...
Norsk Hydro: Aluminum Market In 1.9 Million-ton Surplus In 2011
The global aluminum market was in a 1.9 million metric tons a year surplus by the end of 2011, Norwegian producer Norsk Hydro ASA (NHY.OS) said Thursday, with demand affected by weak markets in the latter part of the year. Consumption in the fourth quarter on an annualized basis amounted to 24.7...
Norsk Hydro CEO Sees Aluminum Cuts in West, Not China
Look to the west, not China, to make further aluminum production cuts to help reduce the market oversupply, the chief executive of Europe's largest producer of the metal said Thursday. Speaking in an interview with Dow Jones Newswires, Norsk Hydro ASA's Svein Richard Brandtzaeg said that history...
Norsk Hydro Sees Stable Alumina Market In First Quarter 2012
The global alumina market is expected to stay fairly stable for the first quarter of 2012, Norwegian producer Norsk Hydro ASA (NHY.OS) said Thursday, with prices trading around $305 a metric ton by the end of 2011. The producer said the ramp-up of new primary metal production capacity was a key...
Aluminium producer Alro ups profit in Romania despite higher electricity costs towards end-2011
Romanian aluminum producer Alro made a EUR 52.9 million profit in 2011, up from EUR 37.9 million the year before, due to favorable market conditions in the first nine months of the year, and despite a drop in revenues caused by lower aluminum prices and higher electricity costs in the last three...
Rusal Drops in Moscow as Aluminum Prices Fall to One-Month Low
United Co. Rusal (486), the world’s largest aluminum producer, declined in Moscow trading as prices for the light metal dropped to the lowest in a month. Rusal’s Russian depositary receipts lost as much as 2.8 percent in Moscow trading, which would be the biggest fall since Dec. 16, before trading...
Alcoa May Hit $15, Century A 'Sell'
Analysts are currently bearish about Alcoa (AA) and Century Aluminum (CENX) given uncertainty in the industrial economy. Based on my review of the fundamentals and multiples, I find significant risk for both companies but attractive upside for Alcoa. From a multiples perspective, Alcoa and Century...
Aluminum Market In 1.205M-ton Surplus In 2011: WBMS
The global aluminum market was in surplus by 1.205 million metric tons in 2011, the World Bureau of Metal Statistics said Wednesday. The gap between supply and demand was greater than in 2010, when the market had recorded a surplus of 1.05 million tons, the WBMS added. Demand for primary aluminum...
Shanghai Metals Market Morning Review - 2012/2/16 Aluminum Market
Euro zone Finance Ministers said overnight they were disappointed by Greece’s lack of determination to implement its austerity plan and decided to postpone voting for the second round of Greek bailout until next Monday, adding to investor worries towards the euro zone and pushing the US dollar...
NSE lists N4.6bn Tower Aluminium Bond
The Nigerian Stock Exchange (NSE) last week listed N4.6 billion bonds floated by Tower Funding Plc on its daily Official list. The bonds, series one tranche A and series one tranche B, were raised by Tower Aluminium Group from the capital market under its N9 billion (Medium Term Note) last year....
Aluminium weakens on global cues
Aluminium prices edged lower by 0.42% to Rs 107.85 per kg in the futures market after speculators reduced positions taking weak cues from overseas markets amid sluggish spot demand. At the Multi Commodity Exchange, aluminium for delivery in February shed 55 paise, or 0.42%, to Rs 107.85 per kg,...
Global aluminium market 'almost balanced' in 2012: Rusal
A combination of output cuts covering around 8% of global supply and an upturn in demand should leave the global aluminium market "almost balanced" in 2012, Russian aluminium producer Rusal said Monday. Global primary aluminium consumption is set to grow 7% in 2012 to 48.2 million mt, while total...
Aluminum Traders Probably Closed Out Bets That Prices Will Climb
Aluminum traders probably closed out bets that prices will climb as the number of outstanding contracts declined to the lowest in more than three months at the same time as prices fell. Open interest in London Metal Exchange aluminum futures declined by 9,457 lots to 1.35 million contracts in the...
Shanghai Metals Market Morning Review - 2012/2/15 Aluminum Market
Even though LME aluminum stocks surged again by 49,900 mt to 5.11 million mt as the delivery date nears, US retails sales in January came out far below expected and investors still hold worries towards the Greek austerity plan, which helped the US dollar index consolidate at 79, LME three-month...
Russia 2011 Aluminum Exports 2.4% Up On Year At 3.419M Tons
Russia exported in 2011 3.419 million metric tons of aluminum, an increase of 2.4% compared with the 2010, the federal customs service reported Tuesday. The exported aluminum was worth $7.158 billion compared with $6.021 billion in 2010. Aluminum export to countries outside the Commonwealth of...
Novelis cuts 2012 forecast; quarterly loss narrows
Aluminum products producer Novelis cut its fiscal-year earnings estimate for the second time, citing lower shipments because of soft demand in Europe and weakness in its electronics business in Asia. But the U.S. unit of top Indian aluminum producer HindalCo Industries Ltd said it was seeing signs...
