China continues destocking, coupled with recovering peak-season demand; aluminium prices are expected to consolidate at highs with an upward bias next week
1. Macro perspective The US-Iran conflict escalated sharply. On September 9, Iran's Revolutionary Guard struck multiple oil tankers and merchant vessels in the Strait of Hormuz, causing a significant drop in strait traffic. Brent crude broke through USD 100 per bbl, closing at USD 101.21, while WTI...
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...
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World aluminium demand to double in 10 years
World demand for aluminium will double in the next decade, driven by growing use in aircraft, transportation and luxury cars, the head of major European products maker Amag said on Monday. 'We forecast that demand for aluminium will double within the next 10 to 12 years, so a global growth rate of...
Century Aluminum (CENX) Could Break Through $16.34 Resistance Level
Century Aluminum (NASDAQ:CENX) closed Friday's downbeat trading session at $15.81. In the past year, the stock has hit a 52-week low of $8.70 and 52-week high of $20.76. Century Aluminum (CENX) stock has been showing support around $15.24 and resistance in the $16.34 range. Technical indicators for...
Potential Aluminum Corporation of China (ACH) Trade Has 8.53% Downside Protection
Aluminum Corporation of China (NYSE:ACH) closed Friday's negative trading session at $20.51. In the past year, the stock has hit a 52-week low of $18.97 and 52-week high of $26.80. Aluminum Corporation of China (ACH) stock has been showing support around $20.32 and resistance in the $20.70 range....
DJ China Aluminum Stocks On The Decline; Prices May Test Highs In 3Q
China's aluminum stocks have fallen sharply since reaching a record in early March, and if the trend continues, prices could exceed highs seen in February, industry participants said. Higher Chinese prices could undergird global prices, as the country accounts for 40% of global aluminum...
Alcoa May Beat, But Don't Expect a Pop: Analyst
Alcoa’s quarterly results may beat Wall Street expectations, but don’t expect a positive market reaction, according to David Silver, equity research analyst at Wall Street Strategies. “Following last quarter’s earnings beat, [Alcoa’s] stock [AA 15.91 -0.47 (-2.87%) ] was down in the after-market...
East China Aluminum: Falling Prices Met with Limited Response
Traded prices of spot aluminum on July 11 in Shanghai were between RMB 17,550-17,580/mt, with premiums of positive RMB 50-60/mt. Low-iron aluminum was traded between RMB 17,580-17,600/mt. Traded prices of spot aluminum in Wuxi were RMB 17,560-17,580/mt. SHFE current-month aluminum prices slightly...
Alcoa Profit May Double as Airbus to GM Drive Aluminum Demand
Alcoa Inc. (AA), the largest U.S. aluminum producer, may say second-quarter profit more than doubled as customers from General Motors Co. (GM) to Airbus SAS helped drive demand for the lightweight metal. Profit excluding one-time items rose to 33 cents a share, from 13 cents a year earlier,...
Alcoa Profit May Double as Airbus to GM Drive Aluminum Demand
Alcoa Inc. (AA), the largest U.S. aluminum producer, may say second-quarter profit more than doubled as customers from General Motors Co. (GM) to Airbus SAS helped drive demand for the lightweight metal. Profit excluding one-time items rose to 33 cents a share, from 13 cents a year earlier,...
Correlative Earnings Outlook: As Alcoa Moves, So Will Century Aluminum
As earning season approaches, it seems as if the market is putting more emphasis on its outcome. After discouraging jobs data on Friday, the VIX showed little upward change. This observation gives way to the inference that the market expects earnings data to provide positive upward pressure....
June Output of A356 Aluminum Alloy Ingot Reaches New High
Domestic output and sales volume of passenger cars in June have reached new highs compared with previous month and the same month in 2010. Overseas wheel hub orders were continuously reported. As the automotive industry growth outweighed expectations, June output of A356 aluminum alloy ingot...
South China Aluminum: Demand and Supply Scarce Before Weekend
Though most active SHFE aluminum contract prices failed to break the RMB 17,500/mt level, spot aluminum prices still rose as a result of rising aluminum futures prices. Mainstream traded prices for spot aluminum in south China were between RMB 17,680-17,700/mt. Local traders’ unwillingness to move...
South China Aluminum: Consumption Limited as Prices Going Up
As most active SHFE aluminum contract price broke the RMB 17,400/mt level, spot aluminum prices continued to rise on July 6. Mainstream traded prices of spot aluminum in South China were between RMB 17,620-17,650/mt. Though the traders were actively moving goods, aluminum consumers’ response was...
East China Aluminum: Market Sentiment Lowered with Middlemen Purchase Interest
Traded prices of spot aluminum on July 6 in Shanghai were between RMB 17,550-17,580/mt, with premiums of positive RMB 50-80/mt. Low-iron aluminum was traded between RMB 17,580-17,620/mt. Traded spot aluminum prices in Wuxi were RMB 17,550-17,580/mt. As SHFE current month aluminum price fluctuated...
Research and Markets: US Aluminum Industry - 2011 Report on the $40 Billion Industry
Research and Markets (http://www.researchandmarkets.com/research/dc9edf/us_aluminum_indust) has announced the addition of the "US Aluminum Industry" report to their offering. The United States has one of the biggest aluminum industries in the world. The country produces over $40 billion worth of...
SMM Morning Review - 2011/7/6 Aluminum Market
The US Department of Commerce (DOC) announced on July 5 factory orders in May increased 0.8%, slightly lower than the expected 1.0%. The revised durable goods orders rose 2.1%, which is slightly higher than previous month. Such economic data showed that US industrial activity was moderately...
Century Aluminum (CENX) Showing Bullish Technicals With Resistance At $16.61
Century Aluminum (NASDAQ:CENX) closed Friday's winning trading session at $16.08. In the past year, the stock has hit a 52-week low of $8.39 and 52-week high of $20.76. Century Aluminum (CENX) stock has been showing support around $15.09 and resistance in the $16.61 range. Technical indicators for...
Gold, copper to shine; avoid crude & aluminium, say experts
Volatility in equity markets has seen investors shift from high risk assets to commodities. But is this the smart investment? Experts give their views on the hot commodities of the day. Aluminium: According to Anand Rathi Commodities, this metal is looking weak for the next couple of days. Kishore...
East China Aluminum: Suppliers Lead Market, Middlemen Transactions Active
Traded prices of spot aluminum on July 5 in Shanghai were between RMB 17,450-17,490/mt, with premiums of positive RMB 40-50/mt. Low-iron aluminum was traded between RMB 17,490-17,530/mt. Traded spot aluminum prices in Wuxi were RMB 17,450-17,480/mt. As SHFE current month aluminum price fluctuated...
