Articles Tagged "price"

Alcoa Inc. crushed by low aluminum price

Wall Street is expecting aluminum producer Alcoa Inc to declare a second consecutive quarterly loss next week, mostly because the metal’s price has dipped 9 percent this year. Analyst Charles Bradford of Bradford Research stated: The metal price is down, that’s the key. For full story, click here

Chalco increases alumina prices

Aluminum Corp of China Ltd increased its alumina prices by 4.5 percent from Wednesday as spot prices have surged 15 percent over the past week in China, the world’s top user of alumina, used for aluminium production. For full story, click here

Arbitrage opportunity increases China’s aluminum imports

Aluminum’s fundamentals remain dire, despite the upswing in Chinese Imports. Imports in the country are rising due to an arbitrage opportunity as Shanghai Futures Exchange aluminum is selling at a premium of $400-$500 per tonne on the London Metal Exchange.

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.

Aluminum prices fell

Aluminum prices fell as stocks of the metal used in transport and packaging jumped by more than 10,000 tonnes for the second day in a row to a record above 2.94 million tonnes. For full story, click here

Three-month aluminum was untraded

Three-month aluminum was untraded at the close, but bid at $1,330, from $1,348 a tonne at the close Monday, having earlier fallen to $1,331 – the lowest since late January. For full story, click here