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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China Aluminum Market Analysis
China, being the largest consumer and major producer of aluminium, remains the growth engine for global aluminium industry. China’s aluminium demand outstripped the domestic supply in the last few years. The growth of aluminium depends on a number of factors, like rapid industrialization, economic...
China Aluminum Market Analysis
China, being the largest consumer and major producer of aluminium, remains the growth engine for global aluminium industry. China’s aluminium demand outstripped the domestic supply in the last few years. The growth of aluminium depends on a number of factors, like rapid industrialization, economic...
Aluminum declines on weak demand
Commodity reported that Chinese aluminum prices may be capped by record production and weaker demand over the coming two months as new capacity comes online which could lead to a boost semi-finished product exports. According to a survey of 20 warehouses in Shanghai, Guangdong, Jiangsu and Zhejiang...
ALUMINIUM-Major market developments in May
Aluminum lost ground in May after initial strength but will draw support near term from tight physical supplies and the fact that prices are close to the break-even costs ofChinese aluminum smelters. "We're not bullish on aluminium, but the physical market is quite tight and the downside will be...
Demand growth for aluminium to be in range of 13%-15%: NALCO
In an interview with ET Now, BL Bagra, CMD, NALCO, talks about the aluminium demand and company's prospects. Excerpts: ET Now: How do you see the demand for aluminium in India for FY12 do you see it rising? BL Bagra: The growth of demand in India is mainly triggered by the power transmission...
Chinese aluminum market remains flat on high production and weak demand
Chinese aluminum prices may keep flat due to high production and weaker demand in the coming two months. It’s estimated that 1.5 million tonnes of new annual capacity will come on stream during June and July. Also, the monthly production hit the record high of 1.46 million tonnes in April....
Aluminium prices driven by financials -Norsk Hydro
Norsk Hydro's (NHY.OL: Quote) chief financial officer said on Tuesday that financing deals were helping to drive aluminium prices but they still had performed poorly compared with other base metals. "There seems to be a willingness to invest in these inventories to keep them off the market, with...
Boeing Eyes Aluminum Hedging Amid Market Volatility
Boeing Co (BA.N: Quote) may decide within the next year to begin hedging aluminum prices on the London Metals Exchange (LME) in order to reduce volatility in its costs, a senior executive said on Friday. If initiated, the company intends to use the new hedging program on its long-term agreements,...
Nonferrous Scrap, China, Asia
The spot price of domestic aluminum ranged in the 16,490 to 16,670 per ton range in April. Early month trading was in the doldrums. Better external markets drove domestic aluminum prices to rise, but prices continued because of weak demand downstream and trading was flat. Shanghai Futures Exchange...
Harbor Intelligence aluminum prices still in correction
According to report of Harbor Intelligence, global leader in aluminum industry analysis and outlook, LME aluminum prices were still in the correction and the demand from global end users have been decreasing. Harbor Intelligence indicated that the aluminum would settle down at USD 2,400 per tonne...
Aluminum Corporation of China (ACH) Could Fall Through $20.43 Support Leve
According to report of Harbor Intelligence, global leader in aluminum industry analysis and outlook, LME aluminum prices were still in the correction and the demand from global end users have been decreasing. Harbor Intelligence indicated that the aluminum would settle down at USD 2,400 per tonne...
Aluminum Corporation of China (ACH) Could Fall Through $20.43 Support Leve
Aluminum Corporation of China (NYSE:ACH) closed Friday's downbeat trading session at $20.71. In the past year, the stock has hit a 52-week low of $18.18 and 52-week high of $26.80. Aluminum Corporation of China stock has been showing support around $20.43 and resistance in the $20.97 range....
Aluminium declines on international market
Aluminium yesterday traded with the negative node and settled -0.72% down at 117.5 on thursday after the US Labor Dept announced that the number of application for jobless benefits fell to 422k in the week ending May 28th, but the decline was below expectation. The US Commerce Dept announced that...
Industry
The aluminum market in the GCC region is projected to reach US$3bn by 2015, led by growth of the building construction sector and rising population, according to a recent study. Sohar Aluminium, the sultanate’s only aluminium producer, is likely to cash in on the boom. The study, conducted by Abu...
World Aluminum output reaches highest since 1999 as prices climb
Global aluminum production climbed to the highest daily average in April since at least 1999 amid rising prices on the London Metal Exchange. According to data compiled by the International Aluminum Institute, primary aluminum output rose to a daily average of 118,800 tonnes in April from 115,400...
Unwrought aluminum stocks fall to 1.514 in April - IAI
A series of recent FT articles covering a range of topics such as global growth, commodity market volatility and aluminum demand appear to offer conflicting guidance on the direction of prices for the light metal later this year and next. Aluminum’s price correlation to oil is an issue we have...
Aluminium futures likely to trade higher on MCX
MCX Aluminium yesterday traded with the positive node and settled 1.66% up at 114.75 as rising crude oil prices helped push up Aluminium prices to a high of 115.45, but high inventories caused LME Aluminium prices to trim some gains. Market sentiment will remain sluggish in view of rising cash flow...
Aluminium futures up 0.44% in range-bound trade
In range-bound movements, aluminium traded 0.44% higher in futures trading today in line with a firming trend at the London Metal Exchange. At the Multi Commodity Exchange counter, aluminium for delivery in July gained 50 paise, or 0.44% to Rs 114.50 per kg, with a business turnover of three lots....
