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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Century Aluminum Shares Plunged: What You Need to Know
...Aluminum (Nasdaq: CENX) plunged as low as 12% in early Wednesday trading after the company posted disappointing quarterly results...
SMM Morning Review - 2010/10/28 Aluminum Market
... LME aluminum prices slipped as well after opening, with prices falling below all short-term moving averages and finally closing at USD 2,323/mt, down USD 67/mt compared with the previous trading day, or down 2.8%. ...
Aluminum Consumption by China This Year Better Than Expected, Antaike Says
...China’s aluminum surplus is likely to narrow next year, as strong growth in consumption will absorb an increase an output, according to Beijing Antaike Information Development Co...
Chinese plan to auction aluminum to effect global market
...Commodity reported that China is continuing its games with base metals as any decision taken by the Communist nation will affect the global market in a big way...
Aluminum demand may out strip supply
...Bloomberg reported that aluminum producers will have to expand global output by about two thirds to keep pace with an expected consumption increase of 5.3% per year over the next decade...
$500m IPO for Bahrain's state-run aluminium producer
...Bahrain's state-owned aluminium producer launched an initial public offering today that will raise more than US$500 million (Dh1.83 billion) for the country's beleaguered sovereign wealth fund, the company's majority owner...
SMM Morning Review - 2010/10/25 Aluminum Market
... LME aluminum prices opened at USD 2,363/mt, with the highest level and the lowest level at USD 2,375/mt and USD 2,362/mt, respectively, and prices finally closed at USD 2,365/mt,...
WBMS: Global Aluminum Market In 434,000-ton Surplus January-August
...The global aluminum market was in surplus by 434,000 metric tons between January and August, down from a large surplus in the same period last year, the World Bureau of Metal Statistics said Wednesday...
Aluminium futures strengthen on overseas trend
...New Delhi,Aluminium futures prices edged up by 0.29 per cent to Rs 104 per kg today, after tracking gains in base metals overseas amid pick up in spot demand....
SmarTrend Detects Continued Buying Pressure in Shares of Century Aluminum (CENX)
...SmarTrend identified an Uptrend for Century Aluminum (NASDAQ:CENX) on June 21, 2010 at $10.84. In approximately 4 months, Century Aluminum has returned 24% as of today's recent price of $13.43...
Top 3 Aluminum Stocks To Play Soaring Demand In China
...The Chinese are gearing up to devour aluminum on a scale previously unimaginable, boosting imports from 200,000 tons to over 5 million tons in five short years...
Aluminum set for sixth weekly gains on robust demand
...MCX Aluminum was trading little changed, headed for a weekly advance as a weaker Dollar made metals cheaper for buyers holding other currencies. Having witnessed optimistic industry demand in global markets Aluminum futures had remained firm in the earlier weeks...
Aluminum In Surplus In 2011; Demand Lower-MF Global
...The aluminum market will be in another surplus in 2011, with demand lower on a percentage basis than in 2010 and stimulus measures wearing off, according to a senior commodity analyst at MF Global...
Aluminum Import Demand by China May Jump to 5 Million Tons, Harbor Says
...Aluminum imports by China, the world’s largest producer, may increase more than 25 times by 2015 as surging local demand outpaces growth in output, according to research group Harbor Intelligence...
SMM Morning Review - 2010/10/12 Aluminum Market
... LME aluminum prices opened at USD 2,421/mt, and fluctuated during Asian trading hours, with the highest prices reported at USD 2,424/mt. LME aluminum prices finally closed at an intraday low of USD 2,400/mt,...
SMM Morning Review - 2010/10/11 Aluminum Market
... LME aluminum prices post a larger gain than other base metals. Last Friday, LME aluminum prices opened at USD 2,342/mt, ... LME aluminum prices helped SHFE aluminum prices rise further after a open high this morning, and SHFE 1012 aluminum ...
Alcoa Says China Demand Drives Growth in Aluminum Use
...Alcoa Inc., the largest U.S. aluminum producer, reported profit that beat analysts’ estimates and said growing Chinese demand will help boost global use by 13 percent this year....
SMM Morning Review - 2010/10/8 Aluminum Market
... LME aluminum prices set several new highs consecutively during the holidays, and even climbed to above USD 2,400/mt on October 6th, setting a new high since April 22nd, 2010. On October 7th, LME aluminum prices advanced to RMB 2,390/mt after opening at USD 2,362/mt,...
