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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European Metal Trade and Recycling Federation Reports On Aluminium
Suddenly, in April a significant decrease in the offers has been noticed in the Benelux and in the rest of Europe. Were they preliminary signs of a worldwide economic recession? The offers and demands for nonferrous items were significantly weaker during the summer holiday. On top of that, it was...
US aluminum extruders in no rush to sign deals
Aluminum extruders aren’t rushing to sign their 2012 billet supply contracts with the same fervor as last year, market participants told AMM as the mating season began this week. Aluminum extruders aren’t rushing to sign their 2012 billet supply contracts with the same fervor as last year, market...
US aluminum scrap exports jump to three-year high
US aluminum scrap exports reversed a two-month slide in July as China’s large appetite and softer US prices vs. other nations helped push deliveries of the light metal to a three-year high. US aluminum scrap exports reversed a two-month slide in July as China’s large appetite and softer US prices...
UK secondary aluminium market thins on debt crisis contagion
UK secondary aluminium ingot prices were stable on Wednesday as the nervousness surrounding the debt crises in Europe and the USA pushed the market into a state of inertia. “I’ve had a few conversations with customers this morning and everyone is nervous of what’s around the corner,” a producer...
Weak Consumption and high costs lower scrap imports
China Customs released imports and exports data of aluminum scrap in August.In August China imports 200 thousand tons of aluminum scrap, decrease 23.08%, compared with the same period of last year. Comsumption continues weak and the high cost of import are the main reasons for the decline. There...
Positive prospects for Aluminium
For the aluminum metal,companies have a very positive view mid- to long-term as far as its global demand prospects are concerned. The market for aluminum outside of China “may take a small beating” from the global economic slowdown, according to the company.It is expected that companies will...
SMM Morning Review - 2011/9/14 Aluminum Market
Investor worries caused by debt crisis in Greece and Italy overnight were relieved by surging share prices of France’s biggest banks BNP Paribas and Societe Generale, with the euro rebounding to help European and US stock prices close higher. The US dollar index fell 0.27% to 77.059 as a result....
SMM Aluminum Price Forecast (Sept. 13-16)
SHFE 1111 aluminum contract prices fell at first but rebounded later in the week, with mainstream prices moving between RMB 17,200-17,450/mt and facing strong pressure from the 30-day moving average. Power shortages in southwest China are becoming more severe in September, and aluminum producers in...
National Aluminium Company Limited shares fall over 11% on output cut
Shares in India's state-run National Aluminium Co Ltd (NALCO) fell over 11 per cent in early trades after a senior company official said on Saturday that the company had to cut it's daily aluminium output by about 6 per cent due to insufficient power supply. At 9.41 a.m., shares were at 62.55...
Reliance Steel and Aluminum (RS) Showing Bearish Technicals With Resistance At $40.13
Reliance Steel and Aluminum (NYSE:RS) closed Friday's downbeat trading session at $38.50. In the past year, the stock has hit a 52-week low of $36.61 and 52-week high of $60.60. Reliance Steel and Aluminum (RS) stock has been showing support around $37.43 and resistance in the $40.13 range....
CLOSE TO CLOSE: Base metals recover in LME kerb
Base metals prices recovered strongly in kerb trading on the London Metal Exchange on Monday, as volatile stock markets reversed losses and the euro regained ground against the dollar. “This morning the euro was weak as stock markets fell, but once that was forgotten it bounced back up and all was...
Lower North American aluminum orders reflect unease
Aluminum orders in North America fell 4.5 percent in August from the previous month due to heightened uncertainty about the health of the U.S. economy, according to Davenport & Co. LLC research using Aluminum Association data. The choppy, subpar trend in orders continues. The recent pullback in...
Alcoa (AA) Shares Given New $13.00 Price Target by UBS AG (UBS) Analysts
Equities research analysts at UBS AG (NYSE: UBS) lowered their price target on shares of Alcoa (NYSE: AA) from $16.25 to $13.00 in a research issued note to investors on Friday. They currently have a “neutral” rating on the company’s shares. Separately, analysts at Jefferies initiated coverage on...
ALUMINUM SEEN AVERAGING $2,650/TON IN 2012 - GFMS
Aluminum prices should average $2,650 a metric ton in 2012, up 5% from expectations for this year, an analyst at research consultancy GFMS said Friday. GFMS, which was acquired by Thomson Reuters Corp. (TRI) last month, projects an average price of $2,525/ton for 2011, its Managing Director Neil...
MB ALUMINIUM CONF: US,Europe double-dip likely, Bhar says
The United States and Europe likely will face another economic downturn that could have an adverse affect on aluminum, analysts agreed at Metal Bulletin’s 26th International Aluminium Conference in Paris, although rising global demand and warehousing deals could temper some of that potential...
Monday Market Monitor - Metals - WEEK 36 - Europe debt crisis weighing heavily
Base metals, with the exception of tin, slid last week at LME in London as deepening concerns about Europe's debt crisis and sluggish global growth pushed investors out of growth sensitive metals. A new economic stimulus proposal of USD 447 billion package of tax cuts and spending designed to boost...
South China Aluminum: Transactions Extremely Rare on Coming Festival
Spot aluminum market in South China was extremely quiet today, the last trading day before China’s Mid-Autumn Festival starts. Only a few purchases were seen as downstream buyers purchased as needed with fewer orders. SHFE aluminum consolidated after a higher opening today, which pushed spot...
Chinalco market analysis
Aluminum Corp. of China (NYSE: ACH): fell by 2.53% or $-0.4/share to $15.42. In the past year, the shares have traded as low as $15.13 and as high as $26.80. On average, 351074 shares of ACH exchange hands on a given day and today's volume is recorded at 266325. The shares are currently trading...
