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Tag: Aluminum

Aluminum Set for Record Run of Monthly Gains as Supplies Shrink

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Gsr-54-AluminiumAluminum rose in London, heading for the longest-ever run of monthly advances amid shrinking supplies. Copper and tin gained.

Inventories of aluminum tracked by the London Metal Exchange are at a two-year low. The metal for immediate delivery settled yesterday at a $3.25-a-metric-ton premium to the contract for delivery in three months, the first backwardation since December 2012 and a sign of limited supplies. The fee to borrow the lightweight metal for one day jumped to $10 a ton yesterday, the highest since December 2012.

Aluminum Prices To Remain Around Present Level, LME Stocks Seen Falling

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Gsr-057-AluminiumThe LME spot aluminium price is expected to remain around current levels in second halfof 2014 and there is a possible potential upside for physical premiums, according toglobal mining major RUSAL. The positive dynamics in the aluminium sector is supported bythe mounting ex-China deficit, solid demand fundamentals driven by the ongoing shift fromsteel to aluminium in the automotive sector and a lack of new primary aluminium projectsputting pressure on the supply side of the equation, according to the company. RUSAL alsoexpects the LME inventories to drop further on physical market tightness. The LME aluminumprices are hovering around $2080 per tonne right now- their highest mark since February2013. Prices are up nearly 11% on a year –on-year basis.

Zinc and Aluminum Rise on Signs U.S. Demand Will Quicken

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Gsr-5122-ZincAluminum and zinc rose in London as a jump in home building fueled speculation that demand will accelerate in the U.S., the world’s second-biggest consumer of industrial metals.

Housing starts surged in July to the highest in eight months, U.S. government data showed today. Yesterday, a private report showed confidence among home builders rose in August to the highest in seven months. Zinc goes into household products including brass plumbing fixtures, while aluminum is used in window frames and other building components.

Zinc, Aluminum Retreat Ahead of China Factory Output Data

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Gsr-524-ZincZinc and aluminum snapped two days of gains before data on industrial production from China, the world’s biggest user of industrial metals.

Zinc for delivery in three months on the London Metal Exchange retreated as much as 0.5 percent to $2,319 a metric ton and was at $2,329 at 10:25 a.m. in Tokyo. The price is up 13 percent this year. Aluminum fell 0.2 percent to $2,048 a ton.

Aluminum To Swing To Deficit in 2015 After Output Cuts, Ban

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aluminium-futures-down-0-46-per-cent-on-global-cues-300x225Aluminum To Swing To Deficit in 2015 After Output Cuts, Ban

The aluminum market outside China is set to record its first deficit in nine years in 2015 following production cuts and an Indonesian ore export ban, a turning point that could be the start of a prolonged shortfall as demand recovers.

After years of chronic oversupply, the market is beginning to tighten as producers cut production to battle rising costs, Indonesia bans bauxite ore exports and demand for aluminum rises, particularly from U.S. auto makers.

Zinc Falls Most in Six Weeks Amid Speculation Gain Was Excessive

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gsr-zinc-2Zinc dropped the most in six weeks in London amid speculation a rally to the highest level since 2011 lifted prices too far.

The metal climbed yesterday to the highest since Aug. 3, 2011, after posting this year’s biggest monthly advance in June. Prices also retreated today as the European Union and U.S. prepared new sanctions against Russia. The yield on 10-year German government bonds fell to a record and gold gained. Aluminum paced declines on the London Metal Exchange.

Zinc Prices Risess to 35-Month High as Inventories Shrink

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gsr-zinc-2Zinc prices rose to a 35-month high as inventories dwindled amid speculation that increasing auto sales inChina and the U.S. will boost metal use.

Zinc stockpiles monitored by the London Metal Exchange have dropped 29 percent this year to the lowest since December 2010. Auto sales in China climbed 14 percent in June, an industry group said yesterday. In the U.S., new-vehicle demand surged in May and June, Bloomberg Industries said.

China Aluminum Sales for Use in Beercans Foiling Deficit

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aluminium-futures-down-0-46-per-cent-on-global-cuesAluminum factories in China are rolling more metal into shapes for beer cans and cigarette packaging, maintaining an eighth year of surplus even as producers from Alcoa Inc. (AA) to United Co. Rusal curb output.

China, which accounts for half of the world’s aluminum, will produce 2.5 million metric tons more than it uses in 2014, exceeding the 2 million tons of capacity cuts elsewhere since 2013, Morgan Stanley says. While most of China’s surplus is staying home, its shipments of processed metal are growing. The net global surplus will be 160,000 tons, according to the median estimate of 10 analysts in a Bloomberg survey.

Shanghai Copper Falls to Weekly Loss on China Economy

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gsr-copperCopper futures in Shanghai had the first weekly loss in five weeks on concern that demand is slowing in China, the world’s biggest user of metals.

The contract for July delivery on the Shanghai Futures Exchange retreated 0.4 percent to close at 46,360 yuan($7,451) a metric ton and was down 0.8 percent this week. Aluminum and zinc also dropped in Shanghai.

Premier Li Keqiang said yesterday it is “not easy” for China to keep economic growth of about 7.5 percent, the official China National Radio reported. China’s expansion moderated to the weakest pace in six quarters and property construction plunged, testing leaders’ commitment to keep reining in credit as risks mount of a deeper slowdown.

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