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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NORANDA ALUMINUM TRADING HIGHER ON 1.4X ABOVE-AVERAGE VOLUME (NOR)
... Shares of Noranda Aluminum (NYSE:NOR) are trading up 7.6% to $16.46 today on above average volume. Approximately 355,000 shares have traded hands today vs. average 30-day volume of 252,000 shares. ... In the past 52 weeks, shares of Noranda Aluminum have traded between a low of $5.87 and a high...
Aluminum may gain on high industrial demand
... MCX Aluminum traded higher on Wednesday evening at MCX following overseas market trends, but a strong rupee kept the uptrend limited. Aluminium contract closed at 121.90 rupees per Kilogram in last trade. ...
SMM Morning Review - 2011/4/29 Aluminum Market
... LME aluminum prices finally closed at USD 2,764/mt, up USD 23/mt compared with the previous trading day. LME aluminum inventories increased by 5,950 mt to 4,612,050 mt. ...
SMM Morning Review - 2011/4/26 Aluminum Market
... LME aluminum prices opened slightly lower at USD 2,735/mt, and are expected to move between USD 2,700-2,750/mt in view of high crude oil prices. SHFE 1106 aluminum contract prices are expected to fluctuate weakly between RMB 16,650-16,770/mt today, ...
Global aluminum output oversupplied by 302000 tonnes in first 2 months 2011
...According to data of World Bureau of Metal Statistics, the global aluminum had a surplus of 302,000 tonnes in the first 2 months of this year in comparison of 247,000 tonnes in the same period of last year...
Noranda Aluminum sees strong demand from emerging mkts
...Noranda Aluminum Holding Corp posted strong quarterly revenue, and said it expects emerging markets to drive demand for the metal. "We remain bullish about aluminum over the medium- and long-term. We believe global demand will continue to increase," said Chief Executive Layle Kip in a conference...
Aluminium settles higher on global cues
...Aluminium yesterday traded with the positive node and settled 0.08% up at 118.25 in the late session initially dipped as Standard & Poor's slapped a negative outlook on the US’s top-notch credit rating on Monday, triggering investor concerns over the US economic growth and raising risk-aversion....
Alcoa on Track for a Bumper Year
...Alcoa (NYSE:AA) recently announced its performance for the first quarter of 2011. [1] Based on these figures, we have updated our price estimate to $17 from the earlier value of $17.68. While the increase in aluminium prices and divisional shipment figures have been close to the values we...
Aluminum demand grows in March, but extrusion lags
...Demand for most aluminum products rebounded in March even as the extrusion sector continued to lag, according to Davenport & Co. LLC data based on seasonally adjusted figures from the Aluminum Association...
Aluminium shines in a lackluster base metal performance
... Metals in international market performed in a mixed pattern since last evening. Aluminum and Lead were exceptions amidst the falling other base metals. In last trade, all Base Metals ended in red with selling sentiment in volume at London Metal Exchange...
Kaiser aluminum shares down 3.45 since smartrend said sell
...SmarTrend identified a Downtrend for Kaiser Aluminum (NASDAQ:KALU) on February 23, 2011 at $47.99. In approximately 2 months since that trend was identified, Kaiser Aluminum has fallen 3.4% as of today's recent price of $46.37...
Alcoa Broke Support
...Shares of Alcoa, Inc. (NYSE:AA) closed the trading session at $16.13 below calculated support at $16.38 breaking the stock technically, raising concerns by investors, as the move might trigger more selling...
Alcoa Broke Support
...Shares of Alcoa, Inc. (NYSE:AA) closed the trading session at $16.13 below calculated support at $16.38 breaking the stock technically, raising concerns by investors, as the move might trigger more selling...
Alcoa Broke Support
...Shares of Alcoa, Inc. (NYSE:AA) closed the trading session at $16.13 below calculated support at $16.38 breaking the stock technically, raising concerns by investors, as the move might trigger more selling...
ANALYSIS-Fears of end to bank aluminium deals are premature
...Fears of an end to lucrative deals that have locked up large swathes of aluminium stocks are premature because it is likely to take many months for interest rates to reach levels that make them unprofitable...
ANALYSIS-Fears of end to bank aluminium deals are premature
...Fears of an end to lucrative deals that have locked up large swathes of aluminium stocks are premature because it is likely to take many months for interest rates to reach levels that make them unprofitable...
ACH Makes Bearish Cross Below Critical Moving Average
...In trading on Monday, shares of Aluminum Corp of China Ltd. (NYSE:ACH) crossed below their 200 day moving average of $23.06, changing hands as low as $22.96 per share. Aluminum Corp of China Ltd. shares are currently trading off about 4% on the day. The chart below shows the one year performance...
Rio Tinto chairman warns of market risks
...Mr Jan du Plessis chairman of Rio Tinto Plc has warned shareholders that world markets remain fragile, despite many economies having recovered from the financial crisis. However the mining giant had enjoyed an outstanding 2010 with record underlying earnings and was well placed for growth as...
