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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Aluminium hits 5-mth high in metals rally
...London Metal Exchange aluminium has hit a five-month high, joining surging copper, tin nickel and zinc, anticipating the US Federal Reserve would follow the Bank of Japan by providing additional liquidity to markets...
Aluminium marginally up in futures trade
...Aluminium prices are up by 0.29 per cent to Rs 105.55 per kg in futures trading today, as speculators enlarged their positions taking cues from the firm overseas markets amid pick up in spot demand...
Aluminum Corporation of China (ACH) Trading Up 0.1% In Premarket Trading
...Aluminum Corporation of China (NYSE: ACH) ended the last trading session at $24.05. The stock is up 0.1% in premarket trading. So far the stock has hit a 52-week low of $18.03 and 52-week high of $34.27. Aluminum Corporation of China stock has been showing support around 23.19 and resistance in...
Hidalco stock on the roll
...The stock of Hindalco has been on a roll in the last three months, driven by recovery in aluminium prices and strong performance at Novelis, its US subsidiary. Analysts expect the stock to continue the strong performance in the medium term, driven by new initiatives in the domestic market and...
MCX Aluminum jump on strong fundaments
...Having witnessed positive global cues Aluminum futures rose to 103 once again after testing a high of 104.10 in earlier week. Aluminum futures rebounded on continuous bull rally in silver futures in past two days. In latest trades at MCX counter Aluminum delivery contract for September opened on...
Nalco sets annual turnover target of Rs 25,000 crore
...With a revival in the global economy, aluminium major National Aluminum Company has set itself a target of achieving annual turnover of over Rs. 25,000 crore by 2020 from Rs 5,310.46 crore in the last financial year...
Aluminum bolsters on optimistic industry demand
...Weak economic data from global markets constrained Aluminum although rally is under pressure in earlier week. MCX Aluminum fell from a peak of Rs.104 per kg in last week due to negative sentiment and increasing speculative selling activity in international market...
Azerbaijan reduces aluminum export by 78%
...In Jan-Aug 2010 Azerbaijan exported 2,695.7 tons of unprocessed aluminum in amount of $1,847,000 which is a 78% decrease over Jan-Augof last year...
DJ US July Aluminum Output 146,000 Tons, +3.5% On Month - USGS
... U.S. domestic primary aluminum production in July was 146,000 metric tons, up 3.5% from 141,000 tons the previous month and up 8.1% from 135,000 tons in July 2009, the U.S. Geological Survey said Friday...
US primary aluminum market flat, lead time concerns loom
...The Platts US aluminum Transaction premium inched back down to 6.35 cents/lb plus LME cash, delivered Midwest, on renewed buying interest after industry meetings concluded. This is down from a previous 6.5 cents...
Global Aluminum Die-Castings Market to Reach 13.5 Billion Pounds by 2015, According to New Report by Global Industry Analysts, Inc.
...GIA announces the release of a comprehensive global report on Aluminum Die-Castings market. The global market for Aluminum Die-Castings is forecast to reach 13.5 billion pounds by the year 2015. The increasing strength of aluminum die-castings in recent years is mostly traceable to automotive...
DJ Middle East Aluminum Cable Market Needs Antidumping Laws-Midal
...The future of the Middle East aluminum cable market remains "ambiguous" unless antidumping measures are put in place, according Wednesday to a senior executive at a Bahrain-based investment company...
Alumina Market To Be More Balanced In 2011 -Rio Tinto Alcan
...Manama, BAHRAIN -(Dow Jones)- The global alumina market will move closer to balance in 2011, a senior Rio Tinto Alcan executive said Tuesday. Rhodri Harries, the senior vice president of the aluminum producer's commercial, energy and carbon products division, said he expects the market to be...
Aluminium shipments rebounds in both US and Canada
...According to the Metals Activity Report from the Metals Service Center Institute, the rate of growth of aluminum shipments from North American metals service centers rebounded in August. Inventories of both metals changed very little during the month in both the United States and Canada...
Trading Update for Century Aluminum (CENX)
...CENX options saw interesting call activity today. A total of 809 put and 3,836 call contracts were traded raising a low Put/Call volume alert. Today's traded Put/Call ratio is 0.21. There were 4.74 calls traded for each put contract...
MCX Aluminum to climb at 105 on global footprints
...Aluminum futures succeeded in maintaining the upward rally for the entire last week, as investor’s maintained steady confidence to purchase this metal. Having witnessed a range bound price movement in all Industrial metals, Aluminum futures proved as a market driver among all of the rest...
Global aluminum market in 178000 tonnes surplus
...According to the World Bureau of Metal Statistics, global aluminum market was in surplus by 178,000 tonnes during the first 7 months...
SMM Morning Review - 2010/9/20 Aluminum Market
... LME base metals prices closed with gains last Friday, and LME aluminum prices showed signs of rising further ...., with SHFE 1012 aluminum contract prices testing RMB 15,700/mt. If the Shanghai Stock Exchange composite index shows positive performance today, SHFE 1012 aluminum contract prices...
