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
Continue reading "Alcoa Inc. crushed by low aluminum price"
Wednesday, April 1, 2009
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
Continue reading "Chalco increases alumina prices"
Wednesday, March 25, 2009
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.
Continue reading "Arbitrage opportunity increases China’s aluminum imports"
Thursday, March 19, 2009
Alcoa Inc. announced that it will sell 150 million common shares at $5.25 each to raise $ 787.5 million to boost its liquidity. The price is a 4.2% discount from the Wednesday closing price of $5.48. For full story, click here
Continue reading "Alcoa declared to sell its shares at $5.25 each"
Thursday, February 26, 2009
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.
Continue reading "Record high LME stocks overwhelm stimulus’ potential"
Thursday, February 19, 2009
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
Continue reading "Aluminum prices fell"
Tuesday, February 17, 2009
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
Continue reading "Three-month aluminum was untraded"
Friday, February 13, 2009
Aluminium perked up 8.53 per cent to end the week at $1,438. For full story, click here
Continue reading "Aluminium perked up 8.53 per cent"
Monday, February 9, 2009
Aluminium March 9 contract rose by 4.78 per cent to Rs 69.10 per kg. For full story, click here
Continue reading "Aluminium March 9 contract rose"
Sunday, February 8, 2009
Aluminium March 9 contract rose by 4.78 per cent to Rs 69.10 per kg, For full story, click here
Continue reading "Aluminium March 9 contract rose"
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Friday, April 3, 2009