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...
Grow with
AL Circle
Shanghai Metals Market Morning Review - 2012/2/3 Aluminum Market
LME three-month aluminum contract initially dropped below USD 2,200/mt and net positions of the contract lost 28,000 lots due to profit taking by longs ahead of release of the latest US non-farm payroll data. The metal narrowed losses at the tail of trading with bargain hunting and closed down USD...
Markets Weaken after DJ Norsk Hydro Q4 Hit By NOK1.3B Writedowns
Norway's Norsk Hydro ASA (NHY.OS) said Wednesday its fourth quarter results will be hit by writedowns of NOK1.3 billion ($221.4 million) as weakening in certain markets, low prices and raw material and currency pressures weigh on the aluminum producer. "We have seen a worsening in some markets,...
Aluminum Surplus May Plunge to Lowest in 5 Years, Sumitomo Says
A global aluminum surplus may shrink to the lowest level since 2007 as major producers cut output amid soaring energy costs and sluggish demand, said Japan’s third-largest trading house. Supply will exceed demand by 941,000 metric tons this year, down 42 percent from 1.61 million tons in 2011, said...
Shares of Kaiser Aluminum Under Pressure, Down 1.9%
Kaiser Aluminum (NASDAQ:KALU) is one of today's notable stocks in decline, down 1.9% to $49.33. The Dow is down 0.3% to 12,620 and the S&P is currently trading fractionally lower to 1,310. Potential upside of 20.6% exists for Kaiser Aluminum, based on a current level of $49.33 and analysts' average...
Shanghai Metals Market Morning Review - 2012/2/1 Aluminum Market
LME aluminum for three-month delivery opened at USD 2,280/mt and hit USD 2,310/mt supported by gains in oil prices during initial trading on Tuesday. The metal dropped and closed down 1.15% at USD 2,248/mt, however, after US home and manufacturing data came out missing expectations and causing more...
Aluminum of China Crosses Below its 10-day MA (ACH)
Today, shares of Aluminum of China (NYSE:ACH) have crossed bearishly below their 10-day moving average of $12.94 on a volume of 190K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term. Aluminum of China share...
Failing aluminum complex threatens Montenegrin economy
The debt of a failing aluminum complex in Montenegro is threatening the tiny Balkan state with economic collapse, reported Radio Television Serbia (RTS) on Saturday. The Aluminum Plant Podgorica (KAP) is jointly managed by the Montenegrin government and the Central European Aluminum Company (CEAC)...
Aluminium to average $2,250/ton in 2012: Natixis
Aluminium prices rising modestly to an average of $2,250/tonne in 2012, but significant downside risks clearly exist, said a 2012 first quarter Metals Review by Natixis Commodity Markets Ltd. According to Natixis, despite a rapid increase in demand for aluminium, a sustained increase in supply kept...
Sales Revenue of Hualu Aluminium Exceeds 3 Billion CNY in 2011
Sales revenue of Hualu Aluminium exceeded 3 billion CNY in 2011. Faced with tough market situation and production task, Hualu Aluminium has improved its production organization and management and adjusted its sales structure to ensure the stable production of the plant. The company has also...
Secondary alloys continue upward trek
Free-market secondary aluminum alloy tags rose for a second time this past week, sparked by a four-day run in the London Metal Exchange’s North American special aluminum alloy contract (Nasaac), market sources said. Producers were quoting A380.1 at $1.12 to $1.13 per pound by early Friday. However,...
Major aluminum market developments in December
Reuters reported that aluminum prices fell in December as demand worries weighed and while a handful of production cutback announcements have since lent the market a steadier tone, lackluster demand is seen likely to limit moves higher near term. In early January, Alcoa Inc announced it was cutting...
Major aluminum market developments in December
Reuters reported that aluminum prices fell in December as demand worries weighed and while a handful of production cutback announcements have since lent the market a steadier tone, lackluster demand is seen likely to limit moves higher near term. In early January, Alcoa Inc announced it was cutting...
Capacity expansions key for Sterlite
Sterlite Industries’ stock, which had nearly halved over five months to Rs 85 in mid-December, has risen 24 per cent so far in 2012 on the back of a 9-12 per cent rise in metal prices. The decent December quarter numbers, which Sterlite announced on Monday, has only helped the stock stand out; it...
Alcoa Tied to Skittish Aluminum Price
Aluminum giant Alcoa (AA), a bellwether for manufacturing, is tied to a skittish commodity price: aluminum. The metal’s price plummeted over 27 percent last year, after peaking in April. Analysts’ opinions on Alcoa’s 2012 prospects now vary widely as the world economic picture dims. Alcoa operates...
Update: Rusal secures PXF covenant waivers
Lenders have signed a covenant waiver agreement with Russian aluminium producer Rusal on its multibillion pre-export financing. Trade Finance provides full details on the new agreement. Lenders have agreed to offer Russian aluminium producer Rusal the option of introducing a 12-month covenant...
The aluminum alloy market: Report
Platts Report: The aluminum alloy market – strong but beset with uncertainty – examines in detail activity throughout the sector and beyond, in Europe, the US and Asia over the past few months and helps bring focus to the outlook of Q1 2012. The automotive industry is a major consumer of secondary...
Aluminum May Extend Advance to $2,295 After Breakout: Technical Analysis
Aluminum, the second best-performing metal on the London Metal Exchange this year, may extend a rally to $2,295 per ton in the next few weeks, according to technical analysis by Commerzbank AG. “Aluminum has maintained its break higher and continues to correct higher,” Karen Jones, a Commerzbank...
Aluminum is clearly back after years of overproduction (AA, ACH)
After Alcoa's ( AA , quote ) earnings, the story in aluminum right now is about whether the industry has conquered the overproduction that crippled its margins in recent years. AA represents 10% of global production. Capacity still needs to come down and the Chinese producers like Alchina ( ACH ,...
