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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BASE METALS: Shanghai Metals Gain On Weak Dollar; Aluminum Up 1.9%
Base metals on the Shanghai Futures Exchange gained Wednesday on the back of a weak dollar amid growing concerns over the debt situation in the U.S. Aluminum once again outperformed other metals as expectations of a steady rise attracted more speculative buying, while copper also gained due to...
East China Aluminum: Downstream Purchase Confidence Deteriorates With Surging Prices
Traded prices of spot aluminum in Shanghai on July 27th were between RMB 18,190-18,210/mt, with premiums of positive RMB 60-90/mt over SHFE current-month aluminum prices. Low-iron aluminum was traded between RMB 18,290-18,310/mt. Traded prices of spot aluminum in Wuxi were between RMB...
Japan June aluminium shipments down 0.8 pct yr/yr
Japanese shipments of aluminium products eased in June from a year-earlier, but demand was firm due to expectations for a recovery from a destructive earthquake in March and ramped-up output to avoid power shortages ahead of the summer. The Japan Aluminium Association said on Wednesday aluminium...
European aluminium products demand set to slow in Q3: Hydro
European demand for rolled and extruded aluminium products is expected to see a seasonal slowdown in the third quarter, Norwegian aluminium producer Hydro said Tuesday. Market demand for rolled products in Q3 "is expected to decline due to seasonality," Hydro said in its second-quarter results...
Hulamin earnings offset by rand
ALUMINIUM producer Hulamin saw headline earnings rocket in the six months to June, but the company warned yesterday that despite a reduction in costs, the increase comes off a low base and is threatened by rand strength.
Aluminum Regains Its Footing
Aluminum markets are improving. A lot of aluminum scrap is available on the market, and a scrap dealer based in the Midwest says sales are becoming a bit more challenging. “You can get all the material [you want] but you don’t want to sell it too early due to the potential of better pricing,” he...
Reliance Steel and Aluminum (RS) Showing Resistance Near $51.08 With 0.95% Dividend Yield
Reliance Steel and Aluminum (NYSE:RS) closed Monday's downbeat trading session at $50.31. 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 $49.38 and resistance in the $51.08 range....
Alcoa Is Telling Us Good Things About the Global Economy
Aluminum giant Alcoa (NYSE: AA ) just reported a 27% surge in revenue and a more than twofold jump in its bottom line for the second quarter. A major aluminum company covers a lot of major sectors and thus gives us insight into the broader economy.
SMM Morning Review – 2011/7/27 Aluminum Market
The debt talk stalemate in the US has exposed the country to risks of default and downgrade of credit rating. Late on July 26th, a higher July Conference Board Consumer Confidence Index was released, but coupled with lower-than-expected new house sales data in June. As risk aversion sentiment grew,...
Norsk Hydro: Aluminum Seen In "Manageable" Surplus In 2011
Demand for aluminum is expected to grow at a rate of around 7% in 2011, according to Norwegian producer Norsk Hydro ASA (NHY.OS), but a "manageable" market surplus is still expected due to the ramp up of additional production capacity. The company said demand and supply of primary aluminum in the...
East China Aluminum: Spot Price Hits RMB 18,000/mt, Bullish Sentiment Continues
Traded prices of spot aluminum in Shanghai on July 26th were between RMB 17,980-18,000/mt, with premiums of positive RMB 50-100/mt over SHFE current-month aluminum prices. Low-iron aluminum was traded between RMB 18,030-18,070/mt. Traded prices of spot aluminum in Wuxi were between RMB...
Aluminum Prices Climbing As Optimism Continues
The SMM China Aluminum Ingot Trade Index during July 18th to July 22nd slightly rose to 51.4%, up by 6.3% from previous week, and broke through the balance line of 50%. As domestic spot aluminum inventories continuously fell and will keep falling in the short term, goods holders were holding goods...
SMM Daily Review – 2011/7/25 Base Metals Market
After LME aluminum prices gained a huge 2% on July 22nd, SHFE aluminum prices opened higher on July 25th at RMB 17,660/mt in response. Tight spot aluminum supply also pushed SHFE aluminum prices to test RMB 17,700/mt. However, after Shanghai Composite Index plunged by nearly 3%, all base metals...
Century Aluminum Sees Q2 EPS Below Consensus
Century Aluminum Co. (CENX: News ) said Monday that it expects to report second quarter net income of $23 million to $25 million, or $0.23 to $0.25 per share, and adjusted net income for the quarter of $25 million to $27 million, or $0.25 to $0.27 per share. Analysts polled by Thomson Reuters...
Rand clouds Hulamin’s outlook after H1 turnaround
An improved operational performance underpinned a 167% rise in Hulamin’s interim headline earnings to R71-million for the period to June 30, 2011. But the aluminium re-roller warned that the turnaround had been achieved off a “low base” and expressed caution about the outlook, owing to the...
Correction in aluminium prices gives a buying opportunity: Sharekhan
Aluminium prices have corrected nearly 12 per cent after hitting the cycle high of $2,803 on 3rd May earlier this year. The fall in prices leaves a good opportunity for long term buyers to go bullish, says a research report by Sharekhan Ltd. The LME 3-month aluminium is well placed to rise to...
Credit Suisse expects aluminum prices to rebound in H2
Reuters reported that Credit Suisse expects a rebound in aluminum prices in the H2 of the year saying the recent bearish price versus the rest of the metals complex is not justified. Aluminum prices lost ground in June and were expected to drift lower on a seasonal softening in demand coupled with...
Global Demand for Aluminum Taking Off
Pittsburgh-based Alcoa (AA), the largest domestic producer of aluminum, saw its Q2 profit increase more than 100% “after higher prices for the lightweight metal outweighed increasing raw-material costs,” according to a Bloomberg article. Alcoa’s sales increased 27% to $6.59 billion last quarter,...
