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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Australian share market rises as investors get optimistic
AUSTRALIAN shares opened higher as a positive start to a month of US earnings buoyed Wall Street overnight and boosted hopes for local equities. Alcoa, the unofficial kick-off to the US reporting season and a key bellwether stock, reported a net loss in the fourth quarter of last year in line with...
Commodity Trading Tips for Aluminium by KediaCommodity
Aluminium yesterday traded with the negative node and settled -0.05% down at 108.25 as the US dollar index stood steady at 81 last Friday as worries towards European debts outweighed support from strong non-farm payroll data of the US. LME aluminum, however, gained supported by profit-taking at the...
Alcoa's Kleinfeld sees 2012 aluminum deficit
Alcoa Inc (AA.N) Chairman and Chief Executive Klaus Kleinfeld expects the global aluminum market to turn into a deficit this year, as biggest consumer China closes inefficient capacity even though demand remains robust. At a conservative estimate, the global deficit will be some 600,000 tons, he...
Alcoa advances on positive growth outlook
Alcoa Inc, the largest US aluminium producer, posted a fourth-quarter loss on Monday but gave a positive outlook for metal demand in the aerospace, construction and other industries, lifting its stock price in after-hours trading. It forecast 7 per cent growth in global aluminium demand this year...
Buy Alcoa on the dip before earnings
Aluminum stock Alcoa announced this week that it will be taking a significant one-time charge from moves to cut smelting capacity. In the short term, this might seem like trouble — but buy-and-hold investors might want to buy in on this dip if they have a long-term horizon for their investments....
Japanese aluminium demand in 2012 likely to be flat or lower
Japan Aluminium Association's chairman Mr Masateru Yoshihara said that domestic aluminium demand in 2012 would be same level or slightly lower than around 3.8 million tonnes in 2011. He warned that the market increases uncertainty since late 2011 at New Year party of the association, Japan...
Analysis: Aluminum traders to producers: Cut like it's 1994
To find a precedent for the deep, lasting output cuts that aluminum producers must make to put a floor under prices, traders are looking a lot further back than the last recession. Three years ago, with the global economy convulsing in the throes of a serious recession, smelters worldwide started...
Alcoa output cuts unlikely to push up prices soon
Alcoa's AA +0.33% decision to cut 12% of its aluminum smelting capacity by mid-year could at best support London Metal Exchange prices around current levels and spur some speculative interest from commodities funds but the move won't be enough to have a substantial bullish impact on the...
Risk Alert For Alcoa, Hydro, Century Aluminum
Wall Street analysts are currently showing no love for three major aluminum miners. Given macro headwinds, cost pressures, and high volatility, the consensus is that the vulnerable fundamentals of Alcoa (AA), Norsk Hydro (NHYDY.PK) and Century Aluminum (CENX) all warrant a "hold" rating. I agree...
Aluminium Industry: Rising cost to defend price softening
CARE Research has come out with its report on aluminium industry. As per the research firm the profitability of the domestic aluminium producers is likely to remain under pressure during FY12. Subsequent to a sharp slowdown, global demand for aluminium during CY10 recorded a healthy growth of 12 %...
Chart Focus: Ess Dee Aluminium – Buy
Investors with medium-term perspective can consider buying the stock of Ess Dee Aluminium (Rs 148.4), one of the largest domestic aluminium-packaging producers. After encountering a key resistance at Rs 525 in June 2010, the stock started trending downwards. In August 2011, the fall accelerated and...
East China Aluminum: Prices Tend to Decline Further over Scant Confidence
Traded prices of spot aluminum in Shanghai were between RMB 15,990-16,020/mt on Thursday, with discounts of RMB 0-30/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,060-16,080/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB...
SMM Morning Review - 2012/1/6 Aluminum Market
The cold response to European debt added to worries towards the European debt crisis. The strong US economic employment data in contrast increased the appeal of the US dollar. As a result, the euro dipped below 1.28 against the US dollar while the latter broke through the 81 mark, removing...
Aluminum will stay firm above 107 rupees
Aluminum traded higher on Tuesday evening at MCX following overseas market trends, but a strong rupee kept the uptrend limited. Aluminum January delievery contract up by 0.50 percent to 107.85 rupees per kilogram on Multi Commodity Exchange(MCX). All metal complex open edge higher but prices cool...
Commodity Trading Tips for Aluminium by KediaCommodity
Aluminium yesterday traded with the negative node and settled -0.19% down at 106.95 but overall the most in two weeks, paring the first annual decline since 2008, on bets that U.S. growth will buoy metals demand as the economy slows in China. The U.S. expanded at a rate of 1.8 percent this year and...
National Aluminium Company (Rs 52.9): BUY
We recommend a buy in the stock of National Aluminium Company (Nalco) from a short-term perspective. It is evident from the charts of the stock that since encountering resistance at Rs 120 in March 2011, the stock has been on a long-term downtrend. Medium-term trend is also down for the stock....
Century Aluminum Shares Climbing Higher, Up 1.4%
Century Aluminum (NASDAQ:CENX) is one of today's biggest movers, up 1.4% to $8.49. The S&P is currently trading fractionally lower to 1,262 and the Dow Jones Industrial Average is trading fractionally lower to 12,267. Potential upside of 39.0% exists for Century Aluminum, based on a current level...
Commodity Trading Tips for Aluminium by KediaCommodity
Aluminium yesterday traded with the negative node and settled -0.19% down at 105.35 tracking LME aluminum opened at USD 2,016/mt and closed 1.72% or USD 34.8/mt lower at USD 1,984/mt on Wednesday as optimism disappeared among in European asset investors, due to climbing Italian debt yields,...
