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 - 2011/3/17 Aluminum Market
... LME aluminum prices fell further, with prices opening at USD 2,498/mt and closing at USD 2,467/mt, down USD 35/mt compared with the previous trading day. Positions fell by 18,319 lots to 699,714 lots, ....
Why aluminum shines amid base metals sell off
...Aluminum has become the in-vogue defensive play amid the broader sell-off across the LME metals markets. This is partly due to the fact that there was less speculative premium built into the light metal than, say, copper. It also reflects the unwinding and reversal of previous long copper/short...
Aluminium rises on low production
...February aluminium output rose 0.5 percent to 1.31 million tonnes from January, which had posted a 7 percent gain from the end of 2010 as several smelters restarted idle capacity...
Metalico Inc announces Q1 FY 2011 outlook
...Metalico finished 2010 with one of the best fourth quarters in its history. The Company continues to see improving macroeconomic conditions, strong commodity prices and exceptional organic growth opportunities in many of Metalico's markets...
SMM Morning Review - 2011/3/14 Aluminum Market
... LME aluminum prices to reverse some losses, and finally LME aluminum prices closed at USD 2,545/mt, down USD 40/mt compared with the previous trading day, or down 1.55%. Total positions increased by 5,352 lots to 719,829 lots. ....
Century Aluminum (CENX) Could Break Through $17.09 Resistance Level
...Century Aluminum (NASDAQ:CENX) closed Friday's negative trading session at $16.70. In the past year, the stock has hit a 52-week low of $8.25 and 52-week high of $17.71. Century Aluminum stock has been showing support around $15.91 and resistance in the $17.09 range...
US October Aluminum Output 147,000 Tons, +2.8% On Month - USGS
...U.S. domestic primary aluminum production in October was 147,000 metric tons, up 2.8% from 143,000 tons in September and up 7.3% from 137,000 tons a year earlier, according Thursday to the U.S. Geological Survey...
MCX Aluminum may continue its uptrend
...Commodity Online reported that MCX Aluminum March contract has been on continues buying mode since last 3 trading sessions. It tested higher levels of 116.50 during the previous week. It remained above 21 days exponential moving average which suggests more buyers...
Trading Alcoa
...New York, March 2nd (TradersHuddle.com) - Shares of Alcoa, Inc. (NYSE:AA) closed the trading session at $16.23 near its 50 day moving average currently set at $16.36. Alcoa's price action is below this important level, which makes the stock difficult to buy, as there will certainly be resistance...
Aluminium futures likely to surge on buying sentiments
...MCX Aluminium March contract yesterday traded with the positive and finally settled at 116.75. The euro continued to strengthen due to strong expectations that the ECB will raise the interest rates, and the US dollar index weakened in response...
SMM Morning Review - 2011/3/2 Aluminum Market
... LME aluminum prices climbed, since the Libyan unrest negatively affected local supplies of aluminum ingot. Last night, LME aluminum prices fluctuated higher to USD 2,617/mt after opening at USD 2,595/mt, and finally closed at USD 2,610/mt, ....
Nalco scrip plunges on CMDs arrest
...PTI reported that National Aluminum Company Limited fell by over 8% in the early trade on the BSE hit by the arrest of the CMD Mr AK Srivastava in a bribery case...
Select base metals rise on industrial offtake
...Select base metals prices rose at the non-ferrous metal market here today on good buying by stockists as well as higher demand from industrial users. Meanwhile, copper utensils scrap, copper sheet cuttings, aluminium utensils scrap eased on subdued demand from consumer industries. ..
Heavy selling drags Aluminium futures to red zone
...AHMEDABAD (Commodity Online): MCX Aluminium Feb contract yesterday traded with the positive up by 0.83% and finally settled at 114.45. The US Labor Department announced on Thursday that the initial jobless claims fell to 390,000 last week, slightly lower than the expected 400,000. In addition,...
National Aluminium Shares Drop After CBI Arrests Chairman
...National Aluminium Co., India’s second-biggest producer, fell the most in more than two years in Mumbai trading after federal investigators said they arrested the company’s chairman in a bribery investigation...
National Aluminium Shares Drop After CBI Arrests Chairman
...National Aluminium Co., India’s second-biggest producer, fell the most in more than two years in Mumbai trading after federal investigators said they arrested the company’s chairman in a bribery investigation...
MCX Aluminum weakens on selling pressure
...Commodity reported that MCX Aluminum February contract opened at 114.40 per Kilogram against previous close of 114.85. It tested lower levels of 112.50 during the day. It last traded at 112.70 down by INR 2.20...
MCX Aluminium weakens on selling pressure
...MCX Aluminium February contract opened at 114.40 per Kg against previous close of 114.85. It tested lower levels of 112.50 during the day. It last traded at 112.70 down by 2.20 rupees...
