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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BHP Billiton posts record profit
BHP Billiton posted a record US$24bn profit and it forecast strong demand for its commodities. The world's largest miner by market value delivered a net profit result of US$23.64bn – up 85.9% from the year before. BHP said it expected robust demand for commodities in the short and medium term, but...
China Primary Aluminum Imports Seen Rising on Prices
China's imports of primary aluminum may increase in August as demand from fabricators in the southern Guangdong province rises because of steady Chinese prices, traders said on Tuesday. Increased demand from China, the world's top consumer and producer of aluminum, has driven up premiums for spot...
SMM Morning Review – 2011/8/25 Aluminum Market
Investor confidence climbed overnight with all US stock prices climbing after the US Department of Commerce announced July durable goods orders rose 4%, much higher than the 2% expectation. Meanwhile, as more investors expected US Fed to provide QE3, risk aversion capital successively exited gold...
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...
Scrap metal bull and price get a big jump
According to a study by the Institute of Scrap Recycling Industries Inc, the market for non ferrous scrap metal copper, aluminum, lead, nickel, zinc and similar metals grew 28% to USD 40 billion in revenue last year. Products from electronic circuit boards to soda cans provide the raw materials...
US Credit Rating Crisis Lookback: Aluminum of China Has 1.12% Drop in Stock Price Following Downgrade (ACH)
On 08/08/11, the first market day after S&P downgraded the nation's credit rating, Aluminum of China (NYSE:ACH) reached a low of $17.00 and has since moved 1.1% lower to its most recent close of $16.81. Over the same time period the Dow Jones Industrial Average rose 3.4% from 10,810 to 11,177 as of...
Reliance Steel and Aluminum (RS) Showing Bearish Technicals But Could Break Through $38.82 Resistance
Reliance Steel and Aluminum (NYSE:RS) closed Tuesday's dramatic trading session at $38.01. In the past year, the stock has hit a 52-week low of $34.58 and 52-week high of $60.60. Reliance Steel and Aluminum (RS) stock has been showing support around $36.38 and resistance in the $38.82 range....
Barclays: Aluminum primary output rises to 70.2 Ktd in July
Prices were softer across the base metals yesterday as a mixed set of Chinese trade combined with on-going macro concerns weighed on the market. In terms of metalsspecific developments, the latest production data from the International Aluminium Institute (IAI) showed that the daily global average...
South China Aluminum: Resistance Strong at RMB 18,000 on Weak Consumption
With most active SHFE aluminum contract prices slightly moving down after opening higher and low buying interest at among downstream consumers, spot aluminum prices partially trimmed gains in south China with mainstream trading prices at RMB 17,960-17,980/mt. Though spot aluminum stock in the area...
Russia to Drive European Aluminum Industry
Russia’s primary aluminum production is projected to grow at a CAGR of around 4.3% during 2011-2013, says RNCOS in its latest research report. According to the RNCOS report, “European Aluminum Market Analysis”, Europe has emerged as one of the world’s largest manufacturing base for the aluminum...
MCX Aluminium find strength on improving demand
Aluminium yesterday traded with the negative node and settled at 106.30 due to stronger US dollar and market concerns over the global economic growth. MCX Aluminium August delivery contract rose by 0.42 percent to 106.85 rupees per kilogram. Prices are looking slightly bearish below 110 rupees per...
P&F Descending Triple Bottom Breakout – AA, ACH
Alcoa Inc. (NYSE:AA) percentage change surged 0.18%, to close at $11.23 and its overall traded volume was 27.99M shares in the last trading session. AA opened at $11.78 and is trading within the range of $11.20-$11.79. The 52-week range of the stock is $9.92 – $18.47. At current market price, the...
SMM Morning Review – 2011/8/24 Aluminum Market
Despite weak new home sales date from the US, the risk aversion sentiment in the global market lowered overnight following better-than-expected contraction data for manufacturing industries in China and Europe, dragging down the US dollar index by 0.42% to 73.845. London gold prices also fell 3.85%...
South China Aluminum: Falling Prices Attract Middlemen
Most active SHFE 1111 aluminum contract prices fluctuated at the closing prices of previous trading day on August 23rd, and mainstream trading prices of spot aluminum in Guangdong moved down to RMB 17,930-17,960/mt due to sluggish downstream consumption. However, with some middlemen actively buying...
Indian aluminum futures decline on profit booking
Indian aluminum futures prices declined by 0.47% to INR 105.80 per kilogram as speculators booked profits at existing high levels, driven by subdued demand in the spot market. At the Multi Commodity Exchange, aluminum for delivery in August declined by 0.50 paise or 0.47% to INR 105.80 per kilogram...
Southwest Aluminum Business Performance Increasing
Official of Southwest Aluminum said at present “we actively carry out effective management mould to create a first-world aluminum processing enterprise by strictly corresponding to the requirement of fine profit management and energy conservation”. Data indicates that since the implementation of...
ALUMINUM OF CHINA FALLS 1.77% ON HEAVY VOLUME: WATCH FOR POTENTIAL REBOUND (ACH)
Aluminum of China (NYSE:ACH - Analyst Report) traded in a range yesterday that spanned from a low of $15.51 to a high of $16.00. Yesterday, the shares fell 1.77%, which took the trading range below the 3-day low of $15.79 on volume of 353,000 shares. Often times after large one-day declines,...
South China Aluminum: Falling Prices Attract Middlemen
Most active SHFE 1111 aluminum contract prices fluctuated at the closing prices of previous trading day on August 23rd, and mainstream trading prices of spot aluminum in Guangdong moved down to RMB 17,930-17,960/mt due to sluggish downstream consumption. However, with some middlemen actively buying...
