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-Major Market Developments in June
...The global aluminium market remains in over-supply and prices will stay under pressure as global economic worries persist and inventories build over the quieter period for demand in the northern hemisphere summer, some analysts say...
SMM Morning Review - 2010/7/19 Aluminum Market
... LME base metals prices retreated last Friday due to weak economic data in the US. LME aluminum prices opened at USD 2,012/mt,...
Aluminium Lacking Buying Spree As Metals Remain Cautious
...Aluminium has been lacking the spree necessary for taking the prices to a certain direction and this has limited any hope of any immediate appreciation in the prices. Whole of June and July has seen metal trading in a limited range...
Cut in Aluminum Production Could Mean Profits for Alcoa
...Analysts believe Alcoa Inc. (NYSE:AA) will see profits as aluminum production will be cut worldwide, especially in China. “We remain optimistic on the long-term fundamentals surrounding the aluminum market and believe that Alcoa is well-positioned to benefit from these trends,” said analyst Tony...
Aluminum wheels market should integrate & set up industrial groups
...Recent years aluminium wheels have been regarded as key exported auto parts & components, which drew much attention form the public...
Alcoa posts profit on stronger sales
...SAN FRANCISCO (MarketWatch) -- Alcoa Inc. said Monday that worldwide demand for aluminum was increasing as the company reported that it swung to a second-quarter profit from a year-ago loss on significantly lower costs and stronger-than-expected sales...
Alumininum trades low in futures trade on profit booking
...Aluminium traded slightly lower by Rs 0.10 or 0.11 per cent, at Rs 93 per kg in futures trade today after speculators booked profits, driven by weak trend at the London Metal Exchange....
TOP 5 COMPANIES IN THE ALUMINUM INDUSTRY WITH THE HIGHEST BETA (CENX, AA, KALU, AWC, ACH)
...Below are the top five companies in the Aluminum industry as measured by beta. Higher-beta stocks mean greater volatility and are therefore generally considered to be riskier but also may provide the potential for higher returns.
Aluminium futures up on spot demand, global trend
...Buoyed by overnight gains at the London Metal Exchange and good demand at spot market, aluminium futures at the Multi Commodity Exchange platform gained Rs 0.30, or 0.32 per cent, at Rs 94.30 per kg today.
<em>Secondary</em> Al <em>prices</em> stable as market looks at what H2 holds <b>...</b>
... Secondary aluminium prices held in the UK on Wednesday as the market turns to look at what the remainder of the year holds.
Market situation of Chinese aluminium foil packaging and its prospect
...Aluminium foil is widely used in many fields. Experts divided it into more than 20 categories in accordance with its application characteristics. As different economic levels of different countries, aluminium foil structures are varied.
SMM Morning Review - 2010/7/8 Aluminum Market
... LME aluminum prices opened at USD 1,979/mt, and later slipped to the daily low of USD 1,966.5/mt, but then rebounded to the daily high of USD 2,008/mt as the US dollar index fell to below 84, and finally prices ended at USD 1,987/mt, down USD 10/mt compared with the previous trading day, or...
Indian shares rise 1 pct; financials lead | Reuters
... equities so far in 2010, with primary market offerings absorbing a share. ... BO) firmed 1.6 percent while aluminium maker Hindalco (HALC. ... from " neutral" and raised price target to 155 rupees from 120 rupees. ...
Chalco to Seek Loans as Market Drop Delays Share Sale (Update2)
... Aluminum Corp. of China Ltd., China's largest maker of the metal, will seek bank loans after an equity market decline forced it to delay share sale plans.
Hindalco Industries good for long-term investment
...Hindalco Industries, a formidable player in non-ferrous segment, has seen its stock surging to a record high of Rs 184 in the first week of April 10. Since then,however, it has plunged by around 22% ..
Aluminium trades 0.33% higher in futures trade
...In a range bound trading, aluminium futures prices traded in positive zone, rising marginally by Rs 0.30, or 0.33 per cent, to Rs 92.35 per kg at futures market today.
China cuts aluminium output as markets slide continues
...It is reported that around 10% of China's annual aluminium output is being idled, thanks to high costs sluggish demand and low prices.
Copper, Aluminum, Zinc Slump in Quarter on Economic Concerns
...Copper, aluminum and zinc are heading for a quarterly slump on concerns about the strength of the global economy.
