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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Aluminium weakens on overseas market
Aluminium yesterday traded with the negative node and settled -0.8% down at 111.85 after the preliminary HSBC data shows that the PMI in manufacturing sector during May slipped to a 10-month low, triggering investor concerns over China’s economic growth. Fitch Ratings cut Greece's credit rating by...
Global Aluminum Industry Value to Reach $100bn Barrier According to Merchant Research & Consulting, Ltd.
Future Aluminum market awaits several revolutions and reformations, regional shifts and technological changes that would lead to growth opportunities. New products and processes will appear on the world aluminum market. Due to the metal’s unique properties of being light, strong and reusable,...
Aluminium rises on international market
Primary Aluminium surplus stood at 252000 tonnes in Jan-Mar 2011 as per the latest report from World Bureau of Metal Statistics (WBMS). The primary Aluminium markets were in surplus of 348000 tonnes in Jan-Mar 2010. Aluminum stockpiles dropped for a tenth week, shrinking 8,523 tons to 356,646 tons,...
April daily average aluminum output 70400 tonnes
According to provisional figures from the International Aluminum Institute, daily average primary aluminum output in April rose to 70,400 tonnes from 69,800 tonnes in March. Total production in April was 2.112 million tonnes compared with 2.163 million tonnes in March and 1.983 million in April...
Alcoa CEO doesn't see aluminium price plunge-paper
Aluminium prices should not drop much, Alcoa (AA.N) chief executive Klaus Kleinfeld told a German Sunday paper, giving an upbeat outlook for business at the largest U.S. aluminium producer. Asked by Welt am Sonntag about prospects for higher prices and good business conditions, the German executive...
INVESTORS SELL OFF SHARES OF NORANDA ALUMINUM, DOWN 2.4%
May 20, 2011 (SmarTrend(R) Market Surveillance via COMTEX) -- Noranda Aluminum (NYSE:NOR) is one of today's notable stocks in decline, down 2.4% to $14.00. The S&P is currently trading 0.7% lower to 1,335 and the Dow Jones Industrial Average is trading 0.7% lower to 12,522. Noranda Aluminum is in...
LME aluminum inventory builds deflate backwardation
Recent increases in LME aluminium warehouse stocks have deflated the backwardation that was in the market, says MF Global. Backwardation is a condition in commodities markets where nearby prices are more expensive than deferred and is generally seen as a sign of supply tightness. “It seems that the...
Primary Aluminium Surplus At 252000 Tonnes In Jan-Mar 2011
Primary Aluminium surplus stood at 252000 tonnes in Jan-Mar 2011 as per the latest report from World Bureau Of Metal Statistics (WBMS). The primary Aluminium markets were in surplus of 348000 tonnes in Jan-Mar 2010. For the full year 2010 surplus of primary Aluminium was 735000 tonnes. Demand for...
Aluminum correction not over yet but uptrend to eventually resume
Aluminum prices lately have fallen back to the upper end of Harbor Intelligence’s correction target zone of $2,500 to $2,400 a metric ton. “Today’s prices offer value under key industry metrics, but (the) correction phase is not officially over yet,” Harbor says. Still, Harbor says any slowdown in...
Aluminum correction not over yet but uptrend to eventually resume
Aluminum prices lately have fallen back to the upper end of Harbor Intelligence’s correction target zone of $2,500 to $2,400 a metric ton. “Today’s prices offer value under key industry metrics, but (the) correction phase is not officially over yet,” Harbor says. Still, Harbor says any slowdown in...
Global Aluminum Market In 252,000-ton Surplus January-March
The global aluminum market was in surplus by 252,000 metric tons in the first three months of the year, the World Bureau of Metal Statistics said Wednesday. This compares with a surplus of 348,000 tons in the same period a year before. Demand for primary aluminum in the first three months of 2011...
Neutral On Alcoa
We maintain our Neutral recommendation on Alcoa Inc. (NYSE:AA). Alcoa reported first-quarter 2011 earnings per share of $0.28, which was a penny ahead of the Zacks Consensus Estimate. However, revenues of $5.96 billion missed the Zacks Consensus Estimate of $6.112 billion. The company posted...
Aluminum prices may recover soon - NALCO Chief
NALCO as saying that aluminum prices may recover soon from a low of USD 2,600 per tonne as the current declining trend in metal prices is not due to demand supply mismatch. Mr BL Bagra acting chairman of NALCO said that "The correction is an impact of stronger dollar. It has got nothing to do with...
Aluminium rises on active selling
Aluminium yesterday traded with the positive node and settled 0.09% up at 116.15. Some pressure had been seen from the LME stock also which came up by 32075mt, the total stock at LME is now at 4622825mt. LME stocks of aluminium rose by 32,075 tonnes to 4,622,825 tonnes within touching distance of...
2011/5/13 Aluminum Market
China's central bank announced on Thursday that it will raise the reserve requirement ratio (RRR) of the country's lenders by 50 basis points, the fifth such increase in 2011. The raise will become effective on May 18th, and this move will lift the RRR for China's large financial institutions to a...
RUSAL sees stroStacking Up the Aluminum Stocks: NOR, AA, AWC, CENX, KALU, ACHng demand, prices intact after Q1 profits rise
Did you know that about 40% of a stock's net performance has nothing to do with the company's merits, but is directly attributable to the sector/industry it's in, and that group's net movement? Ergo, you find a good (budding) sector, and the battle's almost half-won. Well, aluminum is apt to be one...
Ess Dee Aluminum counter sees high volume
India Infoline reported that Ess Dee Aluminum clocked volume of 0.132 million shares by 13:26 IST on BSE, a 15.23 times surge over two week average daily volume of 9,000 shares. The stock jumped 5.29% to INR 473.50. United Breweries notched up volume of 0.670 million shares, a 14.68 fold surge over...
Imports of aluminum turn negative in China
India Infoline reported that China imports data has not given any ray of hope for the traders who were desperately awaiting the data after the yesterday's downgrade of Greece rating by S&P and unenthusiastic buying. The monetary tightening measures in China seemed to work well for the imports....
