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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Japan's June aluminium imports rise 36% from May to 185,054 mt
...Japan has imported 185,054 mt of primary aluminium from 25 countries in June, up 36% from a month earlier, according to customs data released on Friday...
Industrial Metals to Advance Next Year on Demand, Natixis Says
...Copper and other industrial metals prices will rise next year as demand increases on global economic growth, according to Natixis Commodity Markets Ltd...
UPDATE 1-Deutsche Declines Comment on Talk of Aluminium ETF Plan
... Deutsche Bank (DBKGn.DE: Quote) on Friday declined to comment on market talk that it will launch a physically-backed aluminium exchange traded product (ETP) by the end of this year...
Options Activity for Century Aluminum Co. (CENX)
...CENX options saw interesting call activity today. A total of 356 put and 7,258 call contracts were traded raising a low Put/Call volume alert. Today's traded Put/Call ratio is 0.05. There were 20.39 calls traded for each put contract...
Aluminum gain on lower stocks
...Aluminum gained 1% on MCX during the evening trading session and hit a high of 97.20 due to lower stocks. Aluminum July contract opened at 95.7, made low of 95.4 and high of 97.2 during trading session. Total volume was recorded at around 3339 lots and open interest around 1818 lots till 6.15...
Alumininum weakens in futures trade
...Aluminium traded a shade lower by Rs 0.25, or 0.26 per cent, at Rs 96.65 per kg in futures trade today after speculators booked profits amid approaching monthly expiry...
SMM Morning Review - 2010/7/30 Aluminum Market
... LME base metals prices extended gains yesterday. LME aluminum prices opened at USD 2,070/mt, with the highest level and the lowest level at USD 2,113/mt and USD 2,058/mt, respectively, and finally ended at USD 2,094/mt, up USD 25/mt ...
DJ <em>Aluminum</em> Market Outside China In 1M-Ton Surplus In 2Q-Hydro <b>...</b>
... Chinese demand for primary aluminum meanwhile rose to 17.6 million tons on an annualized basis with output relatively stable at around the ...
Base metals weaken, aluminium outperforms
...The base metal complex ended lower after gaining for six consecutive sessions. Lead was the top loser ending lower by about 2%. Aluminium continued to outperform on the down side and ended flat...
SMM Morning Review - 2010/7/29 Aluminum Market
... LME base metals prices closed with gains yesterday. LME aluminum prices opened at USD 2,056/mt, with the highest level and the lowest level at USD 2,086/mt and USD 2,054/mt, respectively, and finally ended at USD 2,069/mt, up USD 12/mt ....
SMM Morning Review - 2010/7/28 Aluminum Market
... LME base metals prices were weaker yesterday. LME aluminum prices opened at USD 2,060/mt, with the highest level and the lowest level at USD 2,074/mt and USD 2,044/mt, respectively, and finally ended at USD 2,057/mt, up USD 0.5/mt compared with the previous trading day, or up 0.02%. ...
Unusual Trading Activity for Century Aluminum Co. (CENX)
...CENX options saw interesting call activity today. A total of 697 put and 3,247 call contracts were traded raising a low Put/Call volume alert. Today's traded Put/Call ratio is 0.21. There were 4.66 calls traded for each put contract...
Alcoa in $1bn notes issue
...Aluminium giant Alcoa today announced it was refinancing some of its debt through the issue of $US1 billion in notes due in August 2020...
Alcoa in $1bn notes issue
...Aluminium giant Alcoa today announced it was refinancing some of its debt through the issue of $US1 billion in notes due in August 2020...
SMM Morning Review - 2010/7/27 Aluminum Market
... LME base metals prices surged yesterday. LME aluminum prices opened at USD 2,026/mt, with the highest level and the lowest level at USD 2,063/mt and USD 2,026/mt, respectively, and finally ended at USD 2,056.5/mt, up USD 26/mt compared with the previous trading day, or up 1.3%. ...
<em>Al</em> alloy squeeze likely to continue as warrant holders play market <b>...</b>
... The tightness has become so acute that alloy prices have exceeded cash and three -month primary aluminium prices for about a week now. ...
Aluminium slips in futures trade on profit booking
...At the Multi Commodity Exchange counter, aluminium for delivery in September contract fell by Rs 0.80 or 0.83 per cent, to Rs 95.35 per kg, with a turnover of 15 lots...
Despite rough times, Alcoa positions itself for prosperity
...It’s hard to find a mining and metals company that has experienced a tougher two years than Alcoa (NYSE: AA). With economic factors pushing and tugging at it, including a 60 percent drop in aluminum prices, the company’s shares have tumbled from the $30s to the around $10. That should draw...
