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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SMM Morning Review - 2011/4/2 Aluminum Market
... LME aluminum prices opened at USD 2,640/mt, with prices struggling at the 5-day moving average in the morning session. Later, LME aluminum prices slid rapidly to below USD 2,600/mt as US dollar ...
ANALYSIS-Aluminium price to ride high on energy, bank deals
...Soaring power costs, lucrative bank deals that keep metal away from the market and strong demand growth will boost aluminium prices this year...
Aluminum Corporation of China (ACH) Showing Bearish Technicals With Resistance At $23.90
...Aluminum Corporation of China (NYSE:ACH) closed Monday's flat trading session at $23.49. In the past year, the stock has hit a 52-week low of $18.03 and 52-week high of $28.88. Aluminum Corporation of China stock has been showing support around $23.22 and resistance in the $23.90 range....
MCX Aluminium likely to continue its uptrend
...MCX Aluminium March contract has been on continues buying mode since last two weeks. 14 days RSI in daily chart is at 54 which suggest Aluminium future prices are likely to rise further. It tested higher levels of 117.55 during the previous week...
Aluminium declines on strong US dollar index
...Aluminium yesterday traded with the negative node and settled -0.9% down at 116.15 as news hit in the market that the Federal Reserve will increase benchmark interest rate recently in order to curb inflationary pressure, helping support US dollar index...
Aluminum Stocks Alert (Alcoa Inc., NOR, CENX, ACH)
...The stock has average daily volume of 27.59 million shares. At Friday’s closing market price, the market capitalization of the company stands at $18.16 billion...
SMM Morning Review - 2011/3/28 Aluminum Market
... LME aluminum prices opened slightly higher at USD 2,635/mt, and later climbed further to a high of USD 2,650/mt supported by high energy costs. At the end of trading, LME aluminum prices lost some gains due to a stronger US dollar, and finally closed at USD 2,641/mt, ...
Robust demand and energy costs to help aluminium prices
...Reuters reported that brisk demand growth and soaring energy costs are expected to nourish aluminium this year while high stocks and prospective oversupply should rein in excess exuberance...
US Aluminum Market to Grow at a Splendid Pace
...The primary aluminum industry in the United States is projected to grow at a CAGR of around 12% during 2011-2013, says RNCOS in its latest research report...
Resurgent aluminum output will cap upside - IAI
...According to figures released this morning by the International Aluminium Institute, global aluminum production surged to an all time high of 116,180 tonnes per day in February...
Robust demand and energy costs to help aluminium prices
...Reuters reported that brisk demand growth and soaring energy costs are expected to nourish aluminium this year while high stocks and prospective oversupply should rein in excess exuberance...
SMM Morning Review - 2011/3/24 Aluminum Market
... LME aluminum prices opened high and moved higher last night supported by rising energy prices and market expectations of robust demand for base metals from post-earthquake reconstruction in Japan, with prices opening higher at USD 2,618/mt and finally closing at a higher of USD 2,631/mt, ...
US Aluminum Market Analysis - Examine the Future of the Industry And How the Industry Is Expected To Continue To Grow
...The US aluminum industry is one of the world's largest producers of primary aluminum. Despite the fact that, the global economic crisis severely hit the US aluminum industry, the industry bounced back and sustained its production in 2010. The global slowdown had not only affected the supply of...
US Aluminum Market Analysis - Examine the Future of the Industry And How the Industry Is Expected To Continue To Grow
...The US aluminum industry is one of the world's largest producers of primary aluminum. Despite the fact that, the global economic crisis severely hit the US aluminum industry, the industry bounced back and sustained its production in 2010. The global slowdown had not only affected the supply of...
MCX Aluminium may continue its uptrend
...MCX Aluminium March contract has been on continues buying mode since last few trading sessions. It traded above 21 days exponential moving average which suggests Aluminium future prices are likely to rise further...
Hindalco Industries can test Rs 215-220
...As far as the Hindalco is concerned, I think the buying comes at below Rs 200, the moment the stock slips below Rs 200 and one can see again the stock moving back to about Rs 215-220. So may be the range of Rs 200-215 gives lot of comfort even to the short-term traders by playing into the stock...
Hindalco Industries can test Rs 215-220
...As far as the Hindalco is concerned, I think the buying comes at below Rs 200, the moment the stock slips below Rs 200 and one can see again the stock moving back to about Rs 215-220. So may be the range of Rs 200-215 gives lot of comfort even to the short-term traders by playing into the stock...
WBMS: 2010 Global Aluminum Market Revised To 577,000-ton Surplus
... The global aluminum market was in surplus by 577,000 metric tons in January-December 2010, the World Bureau of Metal Statistics said Wednesday, revising earlier figures which had showed the market in 558,000-ton surplus. ...
