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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Kaiser Aluminum Downward Momentum Looks to Continue
... In the past 52 weeks, shares of Kaiser Aluminum have traded between a low of $32.83 and a high of $52.00 and are now at $46.36, which is 41% above that low price. Kaiser Aluminum is currently below its 50-day moving average of $48.76 and should find support at its 200-day moving average of...
US aluminum scrap availability to remain tight
... Aluminum scrap availability is likely to remain tight in the US and elsewhere because of a number of macroeconomic reasons, one of the largest recyclers of aluminum scrap in the US said Monday. ...
RusAl Looks to Chinese Yuan to Refinance $5Bln in Loans
... United Company RusAl will look to yuan-denominated bonds to help refinance almost $5 billion in foreign loans this year as the biggest aluminum producer ....
Global Aluminum Market to Exceed 52 Million Tons by 2015, According to a New Report by Global Industry Analysts, Inc.
... GIA announces the release of a comprehensive global report on the Aluminum markets. The global market for Aluminum is expected to exceed 52 million tons by 2015 ....
SMM Morning Review - 2011/1/18 Aluminum Market
... LME aluminum prices. LME aluminum prices slipped continuously after opening at a high of USD 2,462/mt, and finally closed at a low of USD 2,435/mt, down USD 37/mt compared with the previous trading day, ....
SMM Morning Review - 2011/1/17 Aluminum Market
... LME aluminum prices fell continuously after opening at an intraday high of USD 2,479/mt, with the lowest prices reported at USD 2,462/mt, and finally closed at USD 2,472/mt, down USD 15/mt compared with the previous trading day. Positions fell by 14,000 lots. ....
SMARTREND'S TREND SPOTTER SEE CONTINUED UPWARD MOMENTUM ON SHARES OF ALUMINA (AWC)
...SmarTrend identified an Uptrend for Alumina (NYSE:AWC) on December 10, 2010 at $8.70. In approximately 1 month, Alumina has returned 12.8% as of today's recent price of $9.81...
Chalco to Favor Bonds Over Loans After Market Rates Double: China Credit
... Aluminum Corp. of China Ltd., the nation’s biggest producer of the metal, is increasing bond sales to fund expansion after China’s market rates for loans doubled in a year. .... than double its short- and medium-term debt to 47 billion yuan ($7.1 billion) by June 2012, company filings show. ...
Alcoa sees 12-percent aluminum growth
... Alcoa Inc, the largest U.S. aluminum producer, reported a fourth-quarter profit on Monday and projected a 12-percent rise in demand for the metal in 2011, driven by aerospace and auto manufacturing. But Alcoa shares, which hit a 12-month high last week, dropped 1.3 percent to $16.24 in...
Alcoa sales growth to slow down as China tackles inflation?
... Alcoa Inc growth in demand for aluminum in China, the world largest market for the metal will decelerate as government measures to curb inflation slow housing and automobile sales. ...
SMM Morning Review - 2011/1/13 Aluminum Market
... LME aluminum prices climbed gradually after opening at a low of USD 2,488/mt, with prices hitting a high of USD 2,521/mt and closing at USD 2,504/mt, up USD 7/mt compared with the previous trading day, or up 0.28%. LME aluminum inventories continued to increase by 14,650 mt to 4,408,350 mt. ...
Hindalco stock up on expectations of good Q3 numbers
... Hindalco Industries gained 3 per cent today as investors expect it to come out with strong third-quarter numbers following robust figures reported by US rival Alcoa overnight. ... Hindalco is currently trading at Rs 226.60 per share, up Rs 3.80. The stock hit an intra-day high of Rs 231.40 and...
Aluminium maker Alco posts solid profits
... Aluminium maker Alco has kicked off earnings season in America with solid profits over the last three months. The company's net income was $258M, a marked improvement on its net loss of $277m dollars this time last year.Alco also says it expects the global economic recovery to bring a rise in...
Alcoa Rebounds to Profit; Sees Stronger Aluminium Demand
... Aluminium giant Alcoa has rebounded to profit, reporting fourth-quarter net income of $258 million, as company executives predict that world demand for the metal will double during the next ten years. ...
SMM Morning Review - 2011/1/12 Aluminum Market
... LME aluminum prices opened at an intraday high of USD 2,503/mt, with the lowest prices reported at USD 2,474/mt. Later, the weaker US dollar, stronger crude oil prices, and upbeat Alcoa's earnings report helped push up LME aluminum prices, and LME aluminum prices finally finished at USD...
Commodity Trading Tips for Aluminium by Kedia Commodity
... Aluminium yesterday traded with the positive node and settled 0.08% up at 113.7. Some support had been seen from the LME stock also which came down by -2075mt, the total stock at LME is now at 4274975mt. In yesterday's trading session aluminium has touched the low of 113.55 after opening at...
NYSE Stocks Trading Actively (Alcoa Inc., EP, WFT, VLO)
... Alcoa Inc. (NYSE:AA) added 0.30% to $16.47. Alcoa Inc. is engaged in the production and management of primary aluminum, fabricated aluminum, and alumina combined. The stock has average daily volume of 24.78 million shares. At current market price, the market capitalization of the company stands...
NYSE Stocks Trading Actively (Alcoa Inc., EP, WFT, VLO)
... Alcoa Inc. (NYSE:AA) added 0.30% to $16.47. Alcoa Inc. is engaged in the production and management of primary aluminum, fabricated aluminum, and alumina combined. The stock has average daily volume of 24.78 million shares. At current market price, the market capitalization of the company stands...
