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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New market study, "Aluminum in Asia-Pacific", has been published
...Datamonitor's Aluminum in Asia-Pacific industry profile is an essential resource for top-level data and analysis covering the Aluminum industry. It includes data on market size and segmentation, plus textual and graphical analysis of the key trends and competitive landscape, leading companies...
Hong Kong Stocks Drop for Fourth Day; Foxconn, Intime Decline
... Hong Kong stocks fell for a fourth straight day, dragging the Hang Seng Index to a one-month low, as a record plunge in U.S. home sales heightened concern the global economic recovery is faltering...
Aluminum fall on weak global cues
...Aluminum Aug moved down by 0.50% in the afternoon session due to weak global cues...
Alcoa Broke Support
...Shares of Alcoa, Inc. (NYSE:AA) closed the trading session at $10.37 below calculated support at $10.47 breaking current long setups, raising concerns by the bulls, as this move might give the bears the upper hand...
Aluminum: A Market Out of Whack
...When I last wrote about aluminum back in September 2009 (What's In Store For Aluminum?), quite a few things were up in the air for the metal. Price prognosticators called for prices anywhere from $1,700 per metric ton all the way up to $3,000. There was even talk of a physically backed aluminum...
Aluminum gain on lower stocks
...Aluminum Aug moved upby 0.60% in the afternoon session due to short covering and lower stocks...
July World Aluminum Output At 2.054M Tons, +2.8% On Month
...Output in July was 55,000 tons higher than in the previous month, and 104,000 tons, or 5.3%, above output in July 2009...
MM Daily Review - 2010/8/20 Base Metals Market
... LME aluminum prices fell sharply, and SHFE aluminum prices weakened as well. SHFE 1011 aluminum contract prices opened at RMB 15,450/mt, but later lost support and dipped to RMB 15,305/mt as Shanghai Stock Exchange Composite Index dropped by 1.7%. At the tail of trading, SHFE 1011 aluminum...
SMM Morning Review - 2010/8/23 Aluminum Market
... LME aluminum prices opened at USD 2,080/mt, and later dipped gradually to USD 2,020/mt. At the tail of trading, LME aluminum prices reversed some losses supported by a weaker US dollar and after significant price declines, with prices finally closing at USD 2,040/mt, with a drop of 1.3%. ...
SMM Morning Review - 2010/8/20 Aluminum Market
... LME aluminum prices experienced larger declines than other base metals due to weak aluminum market fundamentals. LME aluminum prices opened at USD 2,125/mt, and then fluctuated in a narrow band during Asian trading period, but later dipped to USD 2,064/mt, and finally closed at USD 2,066/mt,...
Critical Movement for Reliance Steel & Aluminum Co. (RS)
...In today's trading session, the shares of Reliance Steel & Aluminum Co. crossed above the 50-day moving average indicating a likely bullish trend...
Aluminum fall on higher stocks
... Aluminum Aug moved down by 2.21% during the session on weak Euro against Dollar and higher stocks...
SMM Morning Review - 2010/8/18 Aluminum Market
... LME aluminum prices opened at USD 2,130/mt, and later moved higher gradually to USD 2,168/mt, with prices finally ending at USD 2,141/mt, up USD 23/mt compared with the previous trading day, or up 1.09%. Total trading volumes were 324,098 lots, ...
Aluminium market tight despite glut
...Worries about tight aluminium supplies lie behind the emergence of a premium for cash material on the London Metal Exchange, even though the market overall is flooded with excess material,traders said...
Aluminium market tight despite excess material
...Worries about tight aluminium supplies lie behind the emergence of a premium for cash material on the London Metal Exchange, even though the market overall is flooded with excess material, traders said...
SMM Morning Review - 2010/8/17 Aluminum Market
... LME aluminum prices opened at USD 2,125/mt, with the highest level and the lowest level at USD 2,131/mt and USD 2,110/mt, respectively, and finally ended at USD 2,118/mt, up USD 8/mt compared with the previous trading day, or up 0.4%. Total trading volumes were 204,455 lots, ....
Recently released market study: Aluminum in the United States
...Datamonitor's Aluminum in the United States industry profile is an essential resource for top-level data and analysis covering the Aluminum industry. It includes data on market size and segmentation, plus textual and graphical analysis of the key trends and competitive landscape, leading...
National Aluminium Profit Rises on Gains in Prices, Demand
...National Aluminium Co., India's second-biggest producer of the metal, said profit more than doubled in the first quarter as an economic recovery led a surge in demand and prices...
