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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SMM Morning Review - 2010/12/14 Aluminum Market
... LME aluminum prices to a high of USD 2,340/mt, and LME aluminum prices lost some gains at the tail of trading and finally closed at USD 2,330/mt, up USD 22/mt compared with the previous trading day. Transactions improved significantly, and total trading volumes were near 300,000 lots. LME...
Bear of the day: Stock that fell 42% in 3 days
...India's largest aluminium foil container manufacturer Parekh Aluminex slipped 9.99% or Rs 32.95 to end at Rs 296.85 on the BSE. It touched an intraday high of Rs 312 and an intraday low of Rs 296.85. There were pending sell orders of 3,417 shares, with no buyers available. The total traded...
MCX Aluminium suffer some profit booking
...MCX Aluminium Dec contract prices jumped lower on Friday. MCX Aluminium Dec contract has touched intraday high of 107 on Friday and closed at 104.65. This morning MCX Aluminium Dec contract opened at Rs 105.1, and last traded at Rs104.40 down by 0.35 rupees...
SMM Morning Review - 2010/12/7 Aluminum Market
... LME aluminum prices were very weak due to significantly increasing inventories and sluggish trading sentiment. LME aluminum prices opened lower at USD 2,304/mt last night, and later climbed slightly to USD 2,314/mt. LME aluminum prices later dipped to a low of USD 2,298/mt when the US dollar...
Aluminium futures down 0.52%
...Aluminium futures traded 0.52 per cent lower at Rs 105.70 per kg today, as speculators reduced their holdings at prevailing levels even as metal strengthened overseas in the previous session...
Aluminium Prices To Show Resilience Going Forward, Dips Should Be Bought
...Aluminium prices in the last one-month have shown the perfect rounding bottom pattern. The prices on major exchanges were trading with strong gains till the first half of November from where it dipped from the tensions of Korea and declines of EURO against the Dollar. The markets took negative...
MCX Aluminium settles marginally higher
...MCX Aluminium Dec contract prices jumped marginally on Tuesday. Investors showed huge buying interests in the industrial metal after the US reported positive macro economic data joined with a healthier demand prospects for the metal. MCX Aluminium Dec contract has touched a low of Rs 103.9 a kg...
Alba Board upbeat on IPO success
...Aluminium Bahrain said its transition into a publicly-listed company and membership in both Bahrain and London Stock Exchanges would enable it to demonstrate greater transparency and stronger corporate governance...
Rio CEO warns aluminium stocks weighing on market
...Rio Tinto (RIO.AX: Quote) (RIO.L: Quote), the world's biggest aluminium producer, on Monday warned large inventories of aluminium amassed during the global financial crisis were weighing on the outlook for the commodity over the next few years...
Aluminium futures gain 0.15% on higher global trend
...Aluminium futures prices edged up by 0.15 per cent to Rs 102.50 per kg today, as speculators increased their holdings influenced by a firm global trend. Increased demand in the spot market further fuelled the uptrend...
MCX Aluminium likely to fall further
...Commodity reported that MCX Aluminium November contract future prices had closed at 103 per kilogram down by INR 0.05 against previous close of 103.05. MCX Aluminium November contract opened down at 102.90 this morning and last traded at 102.10 down by INR 0.90 as selling pressure seen in the...
Aluminum trades calm amid falling metals
...Metal prices slipped as North and South Korea exchanged fire. The escalation sent metals price to two week low at Multi Commodity Exchange. Among all these, Aluminum is the only promising metal which traded steadily in last few days with narrow trading range...
Decline In Aluminium Surplus Positive For The Metals
...Recently World Bureau of Metal Statistics (WBMS) data was released. The report showed that the calculated market surplus of primary Aluminium was 285000 tonnes for the first nine months of 2010. The surplus declined by 78.6% from 1327000 tonnes in Jan-Sep 2010...
SMM Morning Review - 2010/11/19 Aluminum Market
... LME aluminum market. Yesterday, LME aluminum prices opened at USD 2,295/mt, with the highest level and the lowest level at USD 2,308/mt and USD 2,282/mt, respectively, and finally closed at USD 2,305/mt, up USD 35/mt or 1.5%. ...
Aluminum shipments on healthy growth trend in US and Canada
...Metals service center shipments in the US and Canada for aluminum continued to increase at robust rates in October, the Metals Activity Report from the Metals Service Center Institute shows. Inventory to sales ratios remained stable for aluminum in both the US and Canada...
Aluminum shipments on healthy growth trend in US and Canada
...Metals service center shipments in the US and Canada for aluminum continued to increase at robust rates in October, the Metals Activity Report from the Metals Service Center Institute shows. Inventory to sales ratios remained stable for aluminum in both the US and Canada...
Aluminum shipments on healthy growth trend in US and Canada
...Metals service center shipments in the US and Canada for aluminum continued to increase at robust rates in October, the Metals Activity Report from the Metals Service Center Institute shows. Inventory to sales ratios remained stable for aluminum in both the US and Canada...
Alcoa sees aluminium demand outstrip supply: FT
...Aluminium prices will rise over the next decade as a scarcity of high-quality mines and sites for new smelters constricts supply in the face of surging global demand, a top Alcoa official told the Financial Times ...
