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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SMM Morning Review - 2011/10/14 Aluminum Market
The EFSF expansion was approved by all members of the euro zone, but failed to provide further support in global markets. China’s September import and export data dropped both on a yearly and a month basis. Trade surplus stayed on the downward track and missed market expectations. The outlook for...
Strong aluminum use despite price drop
Alcoa Inc expects global demand for aluminum to hold up into the Q4 despite a falling metal price and fears the global economy may slip back into recession. Mr Klaus Kleinfeld CEO of Alcoa said that Alcoa remains a confident company in a very nervous world. He thought the world was almost worrying...
Nonferrous market report in China
In August,domestic prices of aluminum ingot metal fell sharply because of the overall metal and financial market bearish sentiment.Many market participants believe the recent fast rise in aluminum prices will actually give the market a callback opportunity. Aluminum ingot is still sought after and...
SMM Morning Review - 2011/10/12 Aluminum Market
Slovakia vetoed the EFSF expansion plan overnight, Greece may not be able to receive the new round of 8 billion euro loan scheduled in early November, Standard & Poor’s downgraded ratings of 10 Spanish banks… With negative news continuously coming out, the European debt crisis seemed still far away...
South China Aluminum: Downstream Buying Interest Down After Weekend Stock Replenishment
SHFE aluminum prices opened high on Monday after China’s National Day holiday. Meanwhile, downstream buyers in south China were eager to purchase for replenishment on the first weekend after the holiday, leading to a slight increase of spot aluminum prices in the local. Mainstream transactions were...
Outlook on Aluminium: Kotak Commodity
MCX Aluminum may trade with positive bias tracking international exchange. Prices may continue to seek support from falling stocks at exchange warehouses. Stocks at LME fell 18600 tonnes last week. Support for Aluminum October contract is seen at Rs.107 while resistance of Rs.110.5.
SMM Morning Review - 2011/10/10 Aluminum Market
Though China and the US reported some improving economic data during the Chinese National Day holiday period, the global economic recovery remained out of sight. Investors’ pessimism towards the global economy therefore only saw slight comfort. In the contrary, the spreading and worsening debt...
SCRAP REACHES FLOOR, EYES Q1 DEMAND
Scrap input prices have come down over the past couple of months and have "found a floor," said an Italian alloy producer, adding: "It's not possible to push prices down any further otherwise we will be suffering again." Prices for scrap in Germany were said to be flat. Scrap buyers would be...
European aluminium alloy 226 lower, negative sentiment creeps in
Secondary aluminium prices drifted lower in Europe this week in quiet market conditions as negative sentiment on the economy and future demand levels crept into the physical market, sources said. "Our plants are fully booked and sold out for Q4 but everyone is talking about the financial crisis,"...
Aluminum utensil manufacturers eyeing sluggish growth
An expected swerve in commodity prices has compounded miseries for utensil manufacturers in Jagadhri, the metal town of Haryana, as growth figures both on domestic end as well as export end are likely to be under stress. Bharat Garg, general secretary of Jagadhri Metal Association, maintained that...
Non-ferrous metals market
Aluminum will have the strongest demand growth among industrial metals right until the end of 2015, Bloomberg reports. In the next four years, aluminum demand will grow by about 7.6% per year, while in 2015, an oversupply will be replaced by a deficit.
LME aluminum to consolidate in USD 2203 range
LME aluminum is expected to consolidate in a range of USD 2,130 per tonne to USD 2,203 per tonne for one trading session as it is riding on a wave (4). A Fibonacci retracement on the wave (3) fall from USD 2,438 to USD 2,130 reveals a target for a weak wave (4) at USD 2,203, the 23.6% level while a...
Aluminium growth prospect stronger than copper: CRU
Aluminium may be where your money should be as it has a much better prospect than copper, says CRU, the commodities research specialists. He added that Chinese stockpiling had boosted copper prices for a long time but Copper consumption is threatened by three factors- declining Chinese consumption,...
IIFL`s view on base metals
Base metals complex witnessed annihilation in September, with double digit declines on a mom basis seen across the board. In fact, most of the metals, barring Aluminium are down by more than 20% on an YTD basis. Debt jitters in Europe have unnerved the markets, as market participants have lost...
Above average' growth predicted for global aluminium demand
The aluminium industry is emerging as one of the strongest markets this year as the commodity shows gains in prominence in the recovering transportation and construction industries. The global aluminium market is a steadily growing market in the wake of the recession and is expected to follow a...
SMM Morning Review - 2011/9/30 Aluminum Market
German parliament approved the EFSF expansion overnight, boosting investors' optimism over the second bailout fund for Greece. US new unemployment claims dropped below 400,000 unexpectedly to a 5-month low. The country’s 2Q GDP growth was also revised upward. As a result, investor worries towards a...
Aluminum alloy tags tumble on panic sales
Secondary aluminum alloy prices nosedived this week as panic selling overtook what has been a fairly resilient market this year. Lower-priced sales continued this week after several producers dropped numbers in rapid succession late last week, according to market participants. Rumors are rife that...
Chinese aluminum bar market may become sluggish
It’s reported that the sales volumes of aluminum bar have dropped in Eastern China recently due to the low capacity utilization rate of downstream aluminum section steel industry. Furthermore the manufactures have cut the processing charges. It’s known that the aluminum bars in Eastern Chinese...
