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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DJ WBMS: Global Aluminum Market In 859,900-ton Surplus January-November
The global aluminium market was in surplus by 859,900 metric tons in January to November, the World Bureau of Metal Statistics said Wednesday. The gap between supply and demand was greater than in the same period of 2010, when the market had recorded an oversupply of 825,900 metric tons, the WBMS...
Secondary aluminum alloy market on verge of growth: Spectro VP
North American secondary aluminum demand will grow over the next few years as diecasters are expected to need more of this product for automotive parts, Gary Borner, vice president of secondary aluminum producer Spectro Alloys, said Tuesday. Diecasting shipments are forecast to grow by 8% and...
Rusal Agrees to Pay Additional Margin on $4.75 Billion Loan
United Co. Rusal, the world’s largest aluminum producer, agreed to pay additional margins on a $4.75 billion loan after banks granted the company greater leeway on the terms of its debt. “The company will have the option to introduce a 12-month covenant holiday, starting from any quarter in 2012,...
UPDATE 1-Norsk Hydro to cut Australia aluminium plant output
Norwegian aluminium producer Norsk Hydro will close one of three production lines at its Kurri Kurri plant in Australia, taking 60,000 metric tonnes a year off the weak metals market, the company said on Wednesday. "Kurri Kurri is in a tough spot, and we need to take swift actions to reduce...
Report says: Aluminum Output Cuts May Widen on Margin Pressure,
Aluminum production cuts may increase as smelters face margin pressure amid falling demand, according to a report by Bank of America Merrill Lynch dated Jan. 16. Announcements of further large production reductions may lead to temporary rallies in prices, according to the report.
Tomago smelter jobs to go mid-year
IN LITTLE more than six months 100 workers at Tomago Aluminium will be shown the door after falling aluminium prices and the rising Australia dollar led the company to restructure its operation. The smelter is a leading Port employer and the news marks an uncertain few months ahead for the...
MCX aluminium to edge higher on global cues
Aluminium yesterday traded with the positive node and settled 0.45% up at 110.5 tracking LME three-month aluminum gained USD 22.8/mt or 1.06% overnight as impact of euro zone downgrades faded and focus is put on today’s Chinese GDP data. American markets were closed on Monday in memory of Martin...
Columbia Falls Aluminum Company Future Uncertain, Blame Bad Economy
Industry experts say a tough economy means the Columbia Falls Aluminum Company won't likely reopen this spring. The aluminum industry's been hard hit by high electric prices and a lousy economy. Plant officials had hoped a deal for better power prices with Bonneville Power would help them reopen,...
Rio more exposed to aluminium
The weakening trend in aluminium, which lost nearly a fifth of its value in 2011, holds broader implications for Rio than BHP. Rio became the world's no. 1 supplier of the lightweight metal after buying Alcan in 2007. "Rio is staring down the barrel of a weakening market for aluminium," said a...
ALUMINIUM-Major market developments in December
Aluminium prices fell in December as demand worries weighed, and while a handful of production cutback announcements have since lent the market a steadier tone, lacklustre demand is seen likely to limit moves higher near term. In early January, Alcoa Inc announced it was cutting its global smelting...
US sheet maker Novelis sees strong long-term aluminum outlook
US aluminum sheet maker Novelis is looking to a strong long-term outlook in the aluminum market, with automotive up almost 25%, specialty products up 6% and 4-5% in beverage can through 2015, said Nick Madden, senior vice president and chief procurement officer. Speaking at the Platts Aluminum...
Trade of the Week: Output cuts boost aluminium
Overcapacity in the aluminium industry and the decline in the price of the metal since its peak in 2008 prompted two major producers to announce cuts in jobs and output last week, and the prospect of further cutbacks across the sector bodes well for commodity investors hunting for upside. Since...
CFAC contract paused due to poor economy
COLUMBIA FALLS- Right now it seems like the Columbia Falls Aluminum Company (CFAC) may not be opening their doors, at least until the economy gets better. A spokesman for the plant says the market for aluminum is so bad right now, that it wouldn't be possible to open up CFAC. While the aluminum...
DJ Russia January-November 2011 Aluminum Exports +2.5% On Year
Russia exported 3.126 million metric tons of aluminum in January-November 2011, an increase of 2.5% compared with the corresponding period in 2010, the federal customs service reported Friday. The exported aluminum was worth $6.628 billion, compared with $5.481 billion in January-November 2010....
Commodity Trading Tips for Aluminium by KediaCommodity
Aluminium yesterday traded with the positive node and settled 0.09% up at 110 tracking LME aluminum for three-month delivery dropped to an intraday low of USD 2,116/mt last Friday after Standard & Poor’s downgraded 9 euro zone countries. Better than expected Michigan University Index and leading...
Why aluminium firms are on fire despite Alcoa’s poor show
Even though the world’s largest aluminum maker, Alcoa, posted quarterly losses for the first time in two years, global markets welcomed the results and moved higher. Indian markets too followed suit and are trading in the green. For the fourth quarter the company posted a loss of $193 million or...
Shanghai Metals Market Morning Review - 2012/1/17 Aluminum Market
LME three-month aluminum gained USD 22.8/mt or 1.06% overnight as impact of euro zone downgrades faded and focus is put on today’s Chinese GDP data. American markets were closed on Monday in memory of Martin Luther King. Transactions for LME aluminum therefore were down almost by half. China’s 4Q...
Zhongwang Says 2012 Orders to Rise More Than 20% on Demand
China Zhongwang Holdings Ltd., Asia’s largest industrial aluminum extrusion products maker, said orders this year may rise by more than 20 percent as it shifts its focus to the domestic market where demand is steady. China “is still in the stage of fast urbanization and industrialization,” Lu...
