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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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...
MII: 2010 Nonferrous Metals First Up then Down, Run high
... In January Aluminum, Zinc 3-month Futures respectively reached the highest close price 18,260Yuan per ton and 21,740 Yuan per ton during the year, but then dropped. In June, Aluminum, Zinc 3-month Futures respectively slipped to the year lowest 14,080Yuan per ton and 13,810Yuan per ton. On...
SMM Morning Review - 2011/1/10 Aluminum Market
... LME aluminum prices opened at USD 2,505/mt, and later hit an intraday high of USD 2,541/mt, setting a new high. Later, the weakening base metals prices and strengthening US dollar index weighed down LME aluminum prices, and LME aluminum prices finally closed at USD 2,509/mt, down USD 10/mt...
Aluminum Outlook 2011
... While the precious metals have been blowing up into a possible bubble and with copper taking the prize for hottest base metal in the latter half of 2010 (and continuing today), aluminum remains the ubiquitous sibling that has kept quiet. But with all its fundamentals solid and supply tightness...
U.S. demand for refractory products to reach $3 billion in 2014
...U.S. demand for refractory products is forecast to advance 8.0 percent annually to $3.0 billion in 2014, reflecting a rebound in steel manufacturing from dismal 2009 levels, according to a Jan. 4 release from The Freedonia Group Inc., Cleveland...
Hindalco Industries strikes record high in weak market
...Sustained selling pulled the key benchmark indices to fresh day's low in mid-morning trade after a firm start. Asian markets were trading mixed. The BSE 30-share Sensex was down 74.70 points or 0.37% to 20,226.40, off 199.45 points from the day's high and up 30 points from the day's low. The...
Hindalco Industries strikes record high in weak market
...Sustained selling pulled the key benchmark indices to fresh day's low in mid-morning trade after a firm start. Asian markets were trading mixed. The BSE 30-share Sensex was down 74.70 points or 0.37% to 20,226.40, off 199.45 points from the day's high and up 30 points from the day's low. The...
SMM Morning Review - 2011/1/7 Aluminum Market
... LME base metals prices were weak with the exception of LME aluminum prices. LME aluminum prices rebounded and closed at an intraday high of USD 2,519/mt, up USD 54/mt compared with the previous trading day. Trading volumes were nearly 180,000 lots, and positions increased by over 2,000 lots. ...
Aluminium drops tracking overseas market
...On LME aluminum prices opened at USD 2,480/mt, and later climbed to USD 2,490/mt, close to the 2-year high of USD 2,500/mt. Although later the tumbling LME copper prices weighed down LME aluminum prices, LME aluminum prices still closed at USD 2,485/mt, up USD 1/mt compared with the previous...
Aluminium gains on overseas market
...Aluminum yesterday traded with the positive node and settled 0.54% up at 111.4 as US dollar index slipped gradually after opening at 79.45 on December 31st, and finally closed at 79.96, down 0.62%...
SMM Morning Review - 2011/1/5 Aluminum Market
... LME base metals prices were mixed yesterday. LME aluminum prices opened at USD 2,480/mt, and later climbed to USD 2,490/mt, close to the 2-year high of USD 2,500/mt. Although later the tumbling LME copper prices weighed down LME aluminum prices, ...
Traders Brace for Action in Alcoa and GM
...Alcoa marks the unofficial start to earnings season next week. Ahead of the event, volume was brisk in the company's January $16 "call" options on a day when Deutsche Bank analysts upgraded their investment rating on the stock...
SMM Morning Review - 2011/1/4 Aluminum Market
... LME aluminum prices fell to USD 2,468/mt after opening at USD 2,480/mt, and later rebounded and finally closed at USD 2,484/mt, up USD 30/mt compared with the previous trading day, or up 1.2%. Today, SHFE aluminum prices opened higher, with SHFE 1103 aluminum contract prices even breaking...
Aluminum Center Up Obviously
... 2011 global aluminum market supply will be improved, which will enhance cost supporting efforts, additionally short-term liquidity is difficult to sharp, it is expected that aluminum price focus will rise to a new stage. .... rapid growth of demand, which will be good for financial property to...
Aluminium plunges on overseas market
... Aluminum yesterday traded with the negative node and settled -0.18% down at 110.1 LME aluminum prices opened higher at USD 2,447/mt, and later fluctuated higher and finally closed at an intraday high of USD 2,455/mt, up USD 25/mt compared with the previous trading day, or up 1%. ...
MCX Aluminium gain, rally may continue
... MCX Aluminium Dec contract yesterday traded with the negative node and settled -0.18% down at 110.1. In yesterday's trading session MCX Aluminium Dec contract has touched the low of 109.55 after opened at 110.45, and finally settled at 110.1. ...
Aluminum sluggish on low downstream operation rate
... It is reported that domestic aluminum market stayed firm in the week December 20 to 24. Price remained at CNY 16,300 per tonne to CNY 16,500 per tonne for Chalco aluminum ingot. The material was traded at CNY 16,020 per tonne to CNY 16,170 per tonne in Shanghai, CNY 16,010 per tonne to CNY...
Aluminium gains on overseas market
... Aluminum yesterday traded with the positive node and settled 0.59% up at 110.3 from last nearly 1week market is trading in the range of 109-111 and same yesterday we have seen as LME market remained closed for the boxing day holiday and will resume trading from today. SHFE aluminum prices...
