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 zooms on weak dollar index
...Aluminium yesterday traded with the positive node and settled 0.3% up at 114.85 but overall market was traded in the range as US stock markets were closed for Presidents' Day on February 21st. Euro once strengthened against the US dollar due to positive economic data, the political turmoil in...
Hedge funds now eye aluminium
...With aluminium lagging other base metals’ spiral in the past year, hedge funds are eyeing this white metal as the next growth avenue for high profitability. Until recently, aluminium was considered a subsidiary to copper for portfolio rebalancing in base metals. Global investment fund houses...
Alcoa near Key Resistance Area
...Shares of Alcoa, Inc. (NYSE:AA) are trading very close to calculated resistance at $17.48 with the current price action closing at just $17.28 placing the stock near levels that make it difficult to buy...
SMM Morning Review - 2011/2/23 Aluminum Market
... LME aluminum prices fell steadily after opening at an intraday high of USD 2,584/mt, and later hit a low of USD 2,502/mt. At the tail of trading, LME aluminum prices rebounded slightly supported by a weaker US dollar index, and finally closed at USD 2,528/mt,....
Calculated Market Surplus Of Aluminium Decline By 70% In 2010
...The market surplus for Aluminium declined by a sharp 70% in 2010 to 558 kt in 2010 as against 1840 kt in 2009. The latest report from World Bureau of Metal Statistics (WBMS) showed that the surplus in 2008 was 2290 kt...
Aluminium prices declining due to slack demand
...Due to decline in the demand of Aluminium across the world amid weak global trends, the future prices of the commodity fell by approximately 1.51% to reach Rs 114.30/kg. According to the figures provided by Multi Commodity Exchange...
Yunlv Aluminum Shares: Issue price of short-term financing bond is 100 Yuan
...Yunlv Aluminum shares released notice today that the company would issue the first phase short- term financing bond, which was called “ The first short- term financing bond in 2011 of Yunnan Aluminum Co.,Ltd”, referred to as “11 Yunlv Aluminum CP01”, code 1181053. The actual amount reached 500...
Century Aluminum Shares Popped: What You Need to Know
...What: Shares of aluminum producer Century Aluminum (Nasdaq: CENX) were hopping today, gaining as much as 11% in intraday trading after a strong fourth-quarter report...
Goldman Sachs Downgrades Noranda Aluminum Holding To Neutral (NOR)
... Goldman Sachs downgraded its Noranda Aluminum Holding (NYSE: NOR) to Neutral in a research report published today. ... over supplied aluminum market as a downside risk. Recent capacity restarts by Alcoa and Century as well as a planned restart of the potlines at the Hannibal smelter by Ormet
Aluminium producer Alro doubles net profit to USD 50.4 mln on international market recovery
... Aluminium producer Alro posted a preliminary net profit of USD 50.4 million last year, almost double on the previous year, the company has announced. Its turnover was of USD 570 million, up on the EUR 334 million posted the year before. ...
Major aluminum market developments in January
... Reuters reported that the sharp increase in London Metal Exchange aluminum stocks in January is a worry and high inventories be a drag on prices in coming months even if the benchmark copper contract continues to scale new heights. ....
SMM Morning Review - 2011/2/16 Aluminum Market
... LME aluminum prices fell continuously to break through the USD 2,500/mt mark after opening at USD 2,521/mt, and finally closed at USD 2,492/mt, down USD 32/mt compared with the previous trading day. LME aluminum inventories increased by 5,500 mt to 4,600,225 mt. ....
Rusal Surges to Record in Hong Kong
... United Co. Rusal surged to a record in Hong Kong trading after OAO GMK Norilsk Nickel raised its offer to buy back shares held by the world’s biggest maker of aluminum to $12.8 billion and said it will boost output. ...
Hindalco: Buoyancy in aluminium will boost realisations?
... Also,the current buoyancy in aluminium is expected to help the company get better realisations in the short term. The results were declared on Saturday. And on Monday, the stock managed to rise 3.9% to Rs 219.4 on investor expectations of a pick-up in the company’s performance over the next few...
SMM Morning Review - 2011/2/15 Aluminum Market
... LME aluminum prices climbed continuously after opening at USD 2,510/mt, and finally closed at an intraday high of USD 2,524/mt, up USD 28/mt compared with the previous trading day. LME aluminum inventories fell by 4,725 mt to 4,594,725 mt. ....
NA primary aluminum production in January up by 7 pct YoY
...Reuters reported that the annual rate of primary US aluminum production rose 7.0% to 1,784,850 tonnes in January from 1,668,262 tonnes in January 2010 and was up 1.3% from December's annual rate of 1,761,667 tonnes...
Annual US primary aluminum production rate rises 7% in January
...The annual rate of US primary aluminum production was 1,784,850 mt in January, an increase of 7% over the January 2010 rate of 1,668,262 mt, the Aluminum Association trade group said Thursday...
Aluminium declines on overseas market
...Aluminium yesterday traded with the negative node and settled -0.39% down at 115.1 but overall since last 2-3 session market activity was dull and yesterday as there was no significant economic data was released market traded in the tight range...
