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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Aluminum giant seeks to double alloy income
...UC Rusal (0486), the world's largest aluminum producer, seeks to double income from aluminum alloy products to up to 70 percent of revenue in three to five years. Customers are ready to pay more for alloy, which commands a higher profit margin than primary aluminum, Rusal chief financial officer...
North American aluminum demand rises 6.6% in January-February
...Aluminum demand in the US and Canada -- shipments by domestic producers plus imports -- totaled an estimated 3.302 billion lb during the first two months of 2011, 6.6% above the same period of 2010, according to preliminary Aluminum Association estimates...
SMM Morning Review - 2011/4/15 Aluminum Market
... LME aluminum prices fluctuated narrowly around the 20-day moving average last night. The weaker US dollar index boosted crude oil prices to above USD 108/bbl, and LME aluminum prices finally closed at USD 2,644/mt supported by higher energy costs, up USD 8/mt ...
SMM Morning Review - 2011/4/15 Aluminum Market
... LME aluminum prices fluctuated narrowly around the 20-day moving average last night. The weaker US dollar index boosted crude oil prices to above USD 108/bbl, and LME aluminum prices finally closed at USD 2,644/mt supported by higher energy costs, up USD 8/mt ...
Futures market survey: 80 pct expect range trading of Shanghai aluminum on Wed
...About 80 percent of futures experts surveyed by the China Finance Corporation, a financial information provider run by Xinhua News Agency, expect range-bound trading of the aluminum futures traded on the Shanghai Futures Exchange (SHFE) on Wednesday, while 20 percent are negative about the...
Futures market survey: 80 pct expect range trading of Shanghai aluminum on Wed
...About 80 percent of futures experts surveyed by the China Finance Corporation, a financial information provider run by Xinhua News Agency, expect range-bound trading of the aluminum futures traded on the Shanghai Futures Exchange (SHFE) on Wednesday, while 20 percent are negative about the...
Alcoa prices $1.25 billion in notes due 2021
...Alcoa Inc. on Wednesday said it will sell $1.25 billion in debt, and use the proceeds to buy back notes that come due eight years earlier. The Pittsburgh-based aluminum mining and processing company said it expects net proceeds of more than $1.24 billion from the sale of 5.40 percent notes due...
Aluminium weakens on selling pressure
...Aluminium yesterday traded with the negative node and settled -1.35% down at 118.4 as US dollar index fluctuated narrowly around 75 on Monday, with the low-end rising slightly but pressures at all moving averages strong. ..
Aluminum ETFs Follow Alcoa Lower After Results
...Exchange traded products that invest in aluminum followed Alcoa shares lower Tuesday morning after the Dow component reported quarterly results that disappointed Wall Street. Alcoa said it swung to a profit in the first quarter as aluminum prices rose, but traders punished the stock and Alcoa...
Aluminum ETFs Follow Alcoa Lower After Results
...Exchange traded products that invest in aluminum followed Alcoa shares lower Tuesday morning after the Dow component reported quarterly results that disappointed Wall Street. Alcoa said it swung to a profit in the first quarter as aluminum prices rose, but traders punished the stock and Alcoa...
SMM Morning Review - 2011/4/13 Aluminum Market
... LME aluminum prices fell further to close at USD 2,654/mt, down USD 28/mt, or down 1.04%. Total positions increased by 6,667 lots to 750,042 lots. LME aluminum prices are expected to struggle at the 10-day moving average between USD 2,630-2,680/mt today, ...
Market vagaries complicate Alumina
...The trend is all very helpful for this passive alumina/aluminium play, but there are pricing and currency vagaries that complicate the picture...
Aluminum price may fall as tougher financing hits warehouse stock
...Worldal reported that despite strong expected demand growth this year, aluminum prices are likely to see a correction to USD 2,200 per tonne in London by the end of the year as interest rates rise making financing deals less attractive...
Aluminum price may fall as tougher financing hits warehouse stocks: analyst
...Despite strong expected demand growth this year, aluminum prices are likely to see a correction to $2,200/mt in London by the end of the year as interest rates rise, making financing deals less attractive, senior analyst William Adams of basemetals.com said Thursday...
Is Alcoa Breaking Out?
...Shares of Alcoa, Inc. (NYSE:AA) closed the trading session at $18.05 just above calculated resistance at $17.8 effectively breaking out, grabbing the attention of momentum traders, which could eventually push the stock to different trading range...
Aluminium trades up on international market
...Aluminium yesterday traded with the positive node and settled 1.06% up at 117.9. Aluminium rose to $2,685 a tonne, its highest since September 2008, before ending up $29 at $2,670...
Aluminium drops on sluggish demand
...The aluminium maker expects demand for the metal to rise by 8.3%, after growing 9% in 2010, spurred by growing consumption in the Bric (Brazil, Russia, India and China) countries...
China’s Economy Will Maintain 7% to 8% Growth, Chalco Says
...China’s economy will maintain “stable” growth of 7 percent to 8 percent a year, supporting demand for commodities including aluminum and copper, said a senior official at Aluminum Corp. of China Ltd...
