Analysts Predict Higher Prices for Aluminum
Analysts are in agreement at Harbor Intelligence’s Annual Aluminum Outlook Conference predicting stable to higher prices on the year. Also, Coca-Cola accuses Goldman Sachs of manipulating aluminum prices.
Articles Tagged "alumina"
Aluminum Price Rises Despite Record Stockpiles
Aluminum is defying logic when it comes to basic economics. Spot aluminum premiums have climbed to their highest price in nearly five years, in the face of mounting warehouse stockpiles.
Alumina Shares Surged on Smaller Than Expected Loss
Alumina Ltd., partner in the world’s leading producer of the material used to make aluminum, rose to the highest in almost nine months in Sydney trading after reporting a smaller-than-expected first-half underlying loss. For full story, click here
Tough times ahead for aluminum industry
Despite the recent recovery in LME aluminum prices; demand for the stainless steel component remains in the dumps. Without any idea of when demand may stage a comeback, aluminum miners are bracing for more tough times.
Aluminum sector’s failure to launch
In the past few weeks, the global marketplace has been met with some much welcomed positive news. However, on the back of a massive slide in commodities prices, aluminum companies are still struggling with record low prices and seemingly nonexistent demand.
Alumina Jamaica to cut hours, pay
Alumina Jamaica Limited reported that it is cutting employees’ work schedules to three days a week following the closure of two plants. For full story, click here
Record high LME stocks overwhelm stimulus’ potential
Aluminium for delivery in three months on the London Metal Exchange fell to a low of $1,279 a tonne – the lowest level since November, 2001. Record high stocks were responsible for the overwhelming downward pressure. Aluminium LME warehouse inventories leapt by 13,125 tonnes to stand at 3.17 million tonnes, their highest ever.
Alumina Second-Half Profit Falls 18% on Lower Prices
Alumina Ltd partner in the world’s biggest producer of the material used to make aluminum, had an 18 percent decline in second-half profit because of lower prices and higher costs. For full story, click here
Market pessimistic on aluminum’s comeback potential
Aluminum prices are near five-year lows as orders drop from automakers, builders and appliance manufacturers. The global recession, collapsing consumer and corporate confidence and plunging demand for industrial metals have combined to drop the aluminum prices on the LME to their lowest monthly rate since April 2003.
More cuts needed to stabilize aluminum market
Aluminum industry executives sent a warning to other market leaders that unless large aluminum producers make deeper output cuts, the entire industry will likely take many years to recover from the current slump. Just 10% of world aluminum output is slated to be taken offline, and unless this number is pushed higher by more output cuts long-lasting damage to the sector is possible.
