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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Analyst Rating In Review: Alcoa Bid Up 5.8% Since Upgraded 7 Days Ago (AA)
Davenport upgraded Alcoa (NYSE:AA) from Neutral to Buy a week ago. Alcoa shares are selling at $11.86, 5.8% above the $11.21 price point of one week ago. A 49.0% potential upside exists for Alcoa, based on a current level of $12.13 and analysts' average consensus price target of $18.08. The stock...
European aluminium alloy stays firm, market eyes financial woes
The output of ARMENAL plant, the only producer of aluminium foil in the Caucasus and Central Asia, totalled 13,110 tons in the first half of 2011, a 8.2% increase as compared with the same period last year. Company’s volume of exports made 12,602 tons, a 4% increase as compared with Jan.-June 2010....
SMM Morning Review – 2011/8/30 Aluminium Market
In the evening of August 29th, though the US released mixed economic data, a much higher-than-expected personal spending growth (0.8% compared with 0.5% expected) which indicated economic improvement in the US boosted market confidence and limited impact by hurricane “Irene” relieved investor...
CHINA ZHONGWANG - Never Give Up USA Market, Annual Order 400 Thousand Ton
Performance of CHINA ZHONGWANG (01333.HK) with help of Chinese market helped it gradually cope with the downturn from America’s antidumping and countervailing investigation. Lu Changqing, executive director and vice president of CHINA ZHONGWANG said,that since the group will increase high-end...
India's aluminum expansion to fall short of expectations
The expansion of India’s primary aluminum capacity in 2011-12 will fall short of market expectations by some 1.6 metric tons per year, says Harbor Intelligence. Projects have gone through a process of continuous delays and some of them could be canceled due to lack of bauxite and competitive coal,”...
South China Aluminum: Supply Excessive, Transactions Limited on Capital Pressure
While most active SHFE aluminium contract prices narrowly fluctuated near RMB 17,365/mt, spot aluminium prices in south China fell slightly to RMB 17,910-17,950/mt due to weak consumption at the month’s end. Resistance was turning stronger at RMB 18,000/mt, keeping most active SHFE aluminium...
East China Aluminum: More Selling at Month’s End, Price Drop Evident in Wuxi
Trading prices of spot aluminium in Shanghai were between RMB 17,760-17,790/mt, with premiums of positive RMB 140-170/mt over SHFE current-month aluminium prices. Low-iron aluminium was traded between RMB 17,800-17,840/mt. Trading prices of spot aluminium in Wuxi were between RMB 17,720-17,760/mt....
SMM Aluminium Price Forecast (Aug. 29-Sept. 2)
SHFE 1111 aluminium contact prices moved below the 60-day moving average, with prices mainly moving between RMB 17,150-17,350/mt last week. Trading sentiment was sluggish, with daily trading volumes falling to around 50,000 lots. Investors mainly made short-term speculative transactions, keeping...
SMM Morning Review – 2011/8/29 Aluminum Market
Though US Fed president did not mention QE3 during the annual central bank meeting on August 26th, and implied that economic stimulation was not necessary at the time. However, he did say to add two days for the Fed interest rate meeting in September to discuss the need of quantitative easing...
SMM Daily Review – 2011/8/26 Aluminum Market
Most active SHFE 1111 aluminum contract opened slightly higher at RMB 17,330/mt on August 26th. After meeting temporary strong resistance, the contract broke through the 60-day moving average with increased buying, hitting an intraday high of RMB 17,445/mt. The contract finally closed RMB 80/mt or...
Piercing Line – Alumina Limited (AWC)
Alumina Limited (ADR) (NYSE:AWC) gained 3.50%, to close at $7.40 and its overall traded volume was 165,267.00 shares in the last trading session. AWC shares were trading within the range of $6.95-$7.45 while its opening price was $7.07. The stock has a 52 week low of $5.71 and 52 week high of...
Chinalco H1 Net Profit Reaches 413 Million Yuan
On August 26 night, Chinalco reported its H1 net profit reaches 413 million Yuan, decrease 22.24% YOY. The report shows operating income of Chinalco H1 2011 reaches 65970 million Yuan, increase 10.36% YOY. It mainly because of external sales price rise of main products and increase of external...
Vimetco 1H Aluminum Output +3%, Continues To Monitor Market
Netherlands-based Vimetco NV (VICO.LN) Friday reported a 6% year-on-year rise in aluminum production in the first half of 2011 and said it continues to monitor the market despite improving demand. The company produced 454,000 metric tons of primary aluminum in the first six months of the year, from...
East China Aluminum: Spot Quotes Mix on Capital Pressure
Trading prices of spot aluminum in Shanghai on August 26th were between RMB 150-170/mt over SHFE current-month aluminum prices. Low-iron aluminum was traded between RMB 17,840-17,860/mt. Trading prices of spot aluminum in Wuxi were between RMB 17,780-17,840/mt. SHFE aluminum prices climbed in the...
Glencore reports 58% profit rise
Profits at giant commodities trader Glencore have risen 58% thanks to rising global market prices. The firm, which listed on the London Stock Exchange this year, made $2.7bn in the first half of 2011. Earnings at its industrial division - which invests in metals, energy and agricultural production...
SMM Morning Review - 2011/8/26 Aluminum Market
Though the US Department of Labor released on August 25th Thursday a much 5,000 higher than expected unemployment claims data, all LME base metals closed higher during the day as the market expected positive news from Fed president to stimulate development of the US economy. Meanwhile, weak...
Outlook on aluminum : Kotak Commodity
Kotak Commodity has come out with its report on aluminum. MCX Aluminum may note some gains tracking copper prices, however the upside remains capped. Recent jump in stocks at LME warehouses may weigh on the gains. Stocks at LME fell by 7300 tonnes yesterday after rising by 105625 tonnes last week...
Novelis expects rolled aluminum demand to grow
Demand for Novelis Inc's [NVLX.UL] aluminum products is growing globally, with consumption ranging from very strong in Asia to up -- if a bit less than forecast -- in the United States, despite some investors' fears that the economy may be slipping into recession. In a recent interview, Chief...
