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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East China Aluminum: Rapidly Slipping PPI Erodes Spot Momentum
Traded prices of spot aluminum in Shanghai were between RMB 16,200-16,240/mt on November 9th, with discounts of RMB 0-30/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,270-16,310/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB...
South China Aluminum: Policy Fine-tuning Boosts Confidence with Low Selling Interest
China's October CPI growth narrowed remarkably as expected, and eased inflationary pressure led to fine-tuning in tightening monetary policy, boosting confidence in domestic market. Purchases were not frequently seen among downstream aluminum processors in South China, limiting rebound in aluminum...
Aluminium up 0.94 pc in futures trade
Aluminium prices gained 0.94 per cent to Rs 106.90 per kg in futures market today on the back of pick-up in spot demand and a firming trend overseas. At the Multi Commodity Exchange, aluminium for delivery in November rose by a rupee, or 0.94 per cent, to Rs 106.90 per kg, with a business turnover...
Aluminum Slump Means 25% of Global Smelters Now Losing Money: Commodities
The biggest decline in aluminum prices since the global recession means at least 25 percent of the world's smelters may be unprofitable. The metal fell 23 percent to $2,135.50 a metric ton on the London Metal Exchange since May 1 and energy costs gained 16 percent in the past month. Twenty-five...
Potential Aluminum Corporation of China (ACH) Trade Has $10.94 Breakeven
Aluminum Corporation of China (NYSE:ACH) closed Friday's unfavorable trading session at $14.64. In the past year, the stock has hit a 52-week low of $10.39 and 52-week high of $25.88. Aluminum Corporation of China (ACH) stock has been showing support around $14.05 and resistance in the $14.95...
East China Aluminum: Discount Widens due to Strong Bearish Sentiment
Traded prices of spot aluminum in Shanghai were between RMB 16,200-16,240/mt on November 8th, with discounts of RMB 30/mt to premiums of RMB 10/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,270-16,300/mt in Shanghai. Traded prices of spot aluminum in...
South China Aluminum: Futures Market Depressed, Aluminum Prices Fall Slightly
Most active SHFE aluminum prices struggled around 5-day moving average on Tuesday. Spot aluminum prices fell slightly due to the lack of upward momentum, with mainstream transactions done at RMB 16,340-16,380/mt. Since futures market presented a weak track recently, cargo holders were much more...
Shares of Alcoa Cross Below the Critical Support Price
Shares of Alcoa closed below the 50-day moving average of $10.78 on Monday. From a technical perspective, this is a sign of weakness as long as prices remain below the stock's moving average. Shares of AA settled the day down $0.1 to $10.81 on lighter than usual volume. Today, the stock price...
Alcoa and Century Aluminum benefit from aluminum greater exposure
Aluminum prices are at a low right now as investors worry about a weak US economy and a possible European recession negatively affecting the global industry. With aluminum being used in many different industries across the market weak aluminum prices could reflect broader economic troubles ahead....
SMM Morning Review - 2011/11/8 Aluminum Market
The worsening debt issues of Greece and Italy have been continuously dampening market confidence. The meeting of European finance ministers did not present any breakthrough either. LME aluminum closed USD 11.3/mt or 0.53% lower at USD 2,125/mt overnight due to short selling at the tail of trading....
Aluminum Plate, Sheet and Strip Producers Face Difficulties in Destocking on Weak Demand
SMM sources report that aluminum plate, sheet and strip producers faced growing difficulties in destocking. Finished product inventories at many aluminum plate, sheet and strip producers account for 50% of or even exceed their current monthly output, and few producers can keep inventories below 33%...
Chinese aluminum imports in Sept up by 40pct
China remained a net importer of primary Aluminum in September, as imports of primary aluminum at 10.8 Kilo tonnes advanced 40% YoY and outpacing export levels at 1.2 Kilo tonne declined 81% YoY. Barclays said that combined with a robust domestic production at 1.58 million tonne gained 21% YoY and...
Aluminum posts largest decline in nearly a year
LME aluminum prices posted their steepest one-day decline in almost a year, say analysts with Harbor Intelligence. This occurred amid a stronger U.S. dollar and fresh speculative short selling, Harbor says. Analysts say physical demand for primary and secondary remain healthy, considering seasonal...
SMM Morning Review - 2011/11/3 Aluminum Market
Due to the European debt crisis, manufacturing data of most European countries have slipped to 2009 levels. However, the US released later a better than expected October ADP employment data, and the Fed said easier monetary policies will be provided at times appropriate, which effectively depressed...
Noranda Aluminum says demand patterns remain stable
Within the recent environment of global economic uncertainty, the Company has observed that demand patterns remain stable across the integrated business and the rate of raw material input costs inflation has slowed. For fourth quarter 2011, the Company expects to experience seasonal demand patterns...
Total Aluminum Export Reached to 230 thousand tons in September
As per China Customs,in September total aluminum export amounted to 230 thousand tons,an increase of 37.3% yoy;aluminum profiles were 67.9 thousand tons,an increase of 67.8% and aluminum plate were 100.9 thousand tons,an increase of 31.63%. On a monthly basis, compared with August,aluminum export...
East China Aluminum: Quotations Divide, Demand Weaker at Month’s End
Traded prices of spot aluminum in Shanghai were between RMB 16,460-16,520/mt on October 28th, with premiums of RMB 0-20/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,560-16,580/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB...
Hydro Warns of Softer Demand as Profit Lags Forecasts
Norway's Norsk Hydro warned uncertain macro conditions could soften demand for aluminum as it posted a smaller-than-expected rise in third-quarter earnings on Thursday. The firm stuck to its view that global demand for aluminum would rise by 7 percent in 2011, but said markets had weakened and that...
