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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Copper in London Advances to a Record as Market Reopens; Aluminum Climbs
... Copper jumped to a record on the London Metal Exchange, catching up with gains in other metals markets as trading resumed today after a two-day holiday. Aluminum, zinc and lead also climbed. ... Aluminum in London climbed 1.6 percent to $2,450 a ton, ...
MCX Aluminium may drag up on upside rally
... MCX Aluminium Dec contract yesterday traded with the positive and settled marginally up at 109.65. Yesterday MCX Aluminium Dec contract has touched intraday high of 110.3 on Monday and today MCX Aluminium Dec contract touched an intraday low of 109.65 and last traded at 109.85 up by 0.20...
Electrolytic Aluminum Plants Low Production Resumption, Aluminum Market Lacks Upward Momentum
... Domestic aluminum market kept stably. Aluminum ingot of Chinalco remained at 16300-16500 Yuan per ton. Shanghai aluminum ingot traded at 16020-16170 Yuan per ton. Wuxi aluminum ingot traded at 16010-16190 Yuan per ton. Nanhai aluminum ingot traded at 16190-1632 Yuan per ton. ...
SMM Morning Review - 2010/12/28 Aluminum Market
... LME market was closed on Monday for the Christmas holiday. The Federal Reserve planned to resume its plan of USD 600 billion government bond purchases, helping push up the yen and euro, and the US dollar index dipped in response. The US dollar index opened at 80.146, and dipped to a low of...
Japan Nov Aluminium Shipments Up 11.4 Pct Yr/yr
... Japanese shipments of aluminium products rose 11.4 percent in November from a year earlier to 183,613 tonnes, industry data showed on Monday. That was up 4.9 percent from October, data provided by the Japan Aluminium Association showed.
RUSAL aims to refinance $11.7 billion debt in 2011
... RUSAL, the world's largest producer of aluminium, aims to refinance $11.7 billion in debt next year, starting a fresh chapter in the company's hard-fought restructuring,... RUSAL restructured around $17 billion in total debt after the global credit crisis pushed it to the brink of disaster.
SMM Morning Review - 2010/12/27 Aluminum Market
... LME aluminum prices slipped first but advanced later. LME aluminum prices fell gradually after opening at an intraday high of USD 2,445/mt, and later reversed some losses after dipping to USD 2,412/mt, and finally ended at USD 2,430/mt, down USD 2/mt compared with the previous trading day. ...
Commodity Outlook for Aluminium by KediaCommodity
...Aluminium yesterday traded with the positive node and settled 0.99% up at 110.75. Although base metals prices lost gains during the day, the strong buying at the low-end of price range helped support aluminum prices...
North American Metals Shipments Show November Upturn
...Metals service center shipments of steel and aluminum rose sharply in November, according to the latest Metals Activity Report, and the Metals Service Center Institute said this may signal of the beginning of a sturdier recovery for the metals industry...
SMM Morning Review - 2010/12/23 Aluminum Market
... LME aluminum prices climbed gradually after opening at USD 2,455/mt, and later kept fluctuating at high levels, and finally closed at USD 2,462/mt, up USD 27/mt compared with the previous trading day, or up 1.1%. Positions increased by 1,008 lots, and LME aluminum inventories fell further by...
Base Metals set for bullish run in 2011
...2011 is going to be the year of base metals, if the strong fundamentals of metals like copper, aluminium, zinc and lead are anything to go by. Driven by huge demand from emerging markets like China and India, base metals complex led by copper have been the best performing commodities in the year...
Aluminum shipments in US and Canada continue healthy growth trend
...Metals service center shipments of steel and aluminum products rose robustly in November, perhaps signaling the beginning of a sturdier recovery for the metals industry, the Metals Activity Report from the Metals Service Center Institute shows...
Emerging Markets Help Ease Aluminum Supply & Demand Concerns
... Aluminum prices have been up for the better half of a month fuelled by a weak US dollar and a recent declaration by the Federal Reserve to buy $600 billion of Treasuries...
Aluminum trades sluggish ahead OF LME stockpile concern
...Aluminum declined as few investors sold the metal to lock in gains after it climbed to a record yesterday, and as the appeal of commodities as alternative investments got diminished by a stronger dollar...
Global Aluminum Market In 318,000-ton Surplus Jan-Oct
...The global aluminum market was in a 318,000 metric ton surplus in the first 10 months of the year, the World Bureau of Metal Statistics said Wednesday...
Weather sends aluminum scrap prices higher
...Aluminum scrap prices rose this week as flows were reduced drastically and markets went quiet. Heavy snowfall in some Midwest regions like northern Indiana also caused minor delivery delays...
Major aluminum market developments in November
...Reuters reported that the global aluminium market will be in supply surplus again next year as demand growth will slow from this year while production continues to rise...
US primary aluminum October output gains 9pct YoY
...Reuters reported that the annual rate of primary US aluminum production rose 8.6% to 1,746,478 tonnes in October from 1,607,884 tonnes in October 2009 and was up 0.3% from September's annual rate of 1,741,233 tonnes...
