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 expected to recoil as investors see positive demand
...MCX Aluminium Feb contract yesterday traded in green during the day and closed at 115.55 up by 0.35% but pressure could be seen at higher levels as China's central bank announced yesterday to raise further lending and deposit interest rate for financial institutions by 25 basis points. But...
SMM Morning Review - 2011/2/9 Aluminum Market
... LME aluminum prices to open at USD 2,541/mt and hit a yearly high at USD 2,573/mt. LME aluminum prices fell slightly at the end of trading and finally closed at USD 2,561/mt, up USD 4/mt from the previous trading day. Total inventories grew significantly by 31,650 mt to 4562,625 mt. ....
Potential Century Aluminum (CENX) Trade Has 18.77% Downside Protection
... Century Aluminum (NASDAQ: CENX) closed Wednesday's trading session at $15.24. In the past year, the stock has hit a 52-week low of $8.25 and 52-week high of $17.14. ...
Sell NALCO; target of Rs 320: PINC Research
... “In Q3FY11, Nalco's revenues increased by 2% YoY to Rs 14.4 billion on higher LME aluminium (up 19% YoY to USD2,338/t) even though metal sales declined 12% YoY to 104kt. EBITDA grew 32% YoY to Rs 3.9 billion & OPM expanded 610bps to 27.0%. PAT rose 65% YoY to Rs 2.6 billion aided by lower tax...
Aluminum likely to regain its strength?
... Aluminum traded higher last week at MCX following optimistic overseas market trends. Aluminum futures stayed in green territory and closed at 112.40 rupees per Kilogram. ...
Aluminium trades up on tight supply?
... Global aluminum supply will exceed demand by 5.6 percent this year, spurring lower prices, as idled smelters restart and new capacity comes on-stream. ...
Market Nuggets: Harbor Maintains $2,650/MT Forecast For Aluminum By Mid-April
...Harbor Intelligence analysts say they still look for aluminum at $2,650 a metric ton, or $1.20 a pound, between February and mid-April. “Typical conditions of a tightening physical market are becoming evident and key macro variables are also positive for prices...
Aluminium rises on limited stocks
...Aluminium yesterday traded with the positive node and settled 2.04% up at 115.15. Some support had been seen from the LME stock also which came down by -3450mt, the total stock at LME is now at 4521225mt.
Visiongain's New Analysis on Aluminium Industry
...The Aluminium Market Analysis, Financials and Forecasting 2011-2016 analyzes this dynamic commodity and reveals prevailing trends and anticipates the progression in the global aluminum industry over the next five years...
North American aluminum demand up 15.2% on year in first 11 months of 2010
...Aluminum demand in the US and Canada (shipments by domestic producers plus imports) totaled an estimated 18.849 billion pounds during the first 11 months of 2010, 15.2% above the same period of 2009, according to preliminary estimates from the Aluminum Association...
Potential Century Aluminum (CENX) Trade Has $11.38 Breakeven
...Century Aluminum (NASDAQ:CENX) closed Tuesday's choppy trading session at $14.24. In the past year, the stock has hit a 52-week low of $8.25 and 52-week high of $17.14. Century Aluminum stock has been showing support around $13.59 and resistance in the $14.85 range. ..
Aluminum May Gain to $2,541
...Aluminum may climb to its January high of $2,541 a metric ton as the daily momentum is “rolling higher,” according to technical analysis by Barclays Capital...
SMM Morning Review - 2011/1/28 Aluminum Market
... LME aluminum prices opened at USD 2,413/mt, and later climbed continuously, and finally ended at USD 2,427/mt. LME aluminum inventories declined by 5,475 mt to 4,530,725 mt. Today, ...
Aluminium Industry Expected to Reach $100 Billion in 2011
...MarketResearch.com has announced the addition of Visiongain's new report "The Aluminium Market Analysis, Financials and Forecasting 2011-2016" to their collection of Metals market reports. For more information, visit http://www.marketresearch.com/product/display.asp?ProductID=6060271...
SMM Morning Review - 2011/1/24 Aluminum Market
... LME base metals prices. LME aluminum prices opened at USD 2,415/mt, and hit an intraday high of USD 2,428/mt. LME aluminum prices lost some gains at the tail of trading, and finished at USD 2,420/mt, up USD 12/mt compared with the previous trading day, or up 0.5%. ...
KAISER ALUMINUM SET TO POSSIBLY REBOUND AFTER YESTERDAY'S SELLOFF OF 1.66% (KALU)
... Kaiser Aluminum (NASDAQ:KALU) traded in a range yesterday that spanned from a low of $47.15 to a high of $48.42. Yesterday, the shares fell 1.66%, which took the trading range below the 3-day low of $47.61 on volume of 109,000 shares ...
MCX Aluminium gets profit booking symptoms, falls marginally
... MCX Aluminium Jan contract yesterday traded with the negative sentiments and settled down at 110.35. It touched intraday low of 109.75 on Wednesday and today reached an intraday low of 109.10 and last traded at 109.90 down by 0.45 rupees. ...
Aluminium futures slip on subdued demand
... Aluminium futures prices traded lower by paise 30 to Rs 111.30 per kg in futures trading today due to reduced offtake by speculators following fall in demand in the spot market. ...
