Trends - aluminium producer - Business Recorder

Markets

Copper hits 7-week low as China to sell strategic stockpiles

No doubt that Chinese efforts to curb prices is playing out and having a negative impact on otherwise bullish price sentiment. It highlights a market that has lost momentum.
Three-month copper on the LME slipped 0.3% to $9,538 a tonne in official trading after earlier touching its lowest since April 23 and slumping by 4% on Tuesday.

Published 16 Jun, 2021 06:15pm

Markets

Copper hits 7-week low as funds, traders cut long positions

"The next leg of the rally will be led by the physical market around the third quarter when the whole supply chain has used up its stocks."
Aluminium was down 1.8% at $2,449.50 a tonne, zinc fell 1.4% to $3,002, lead slipped 1.2% to $2,185, tin dropped 1.4% to $31,217 and nickel ceded 2.9% to $17,938.

Published 15 Jun, 2021 09:03pm

Markets

Copper set for weekly fall on China price-curb fears

Three-month copper on the London Metal Exchange fell 0.2% to $9,871 a tonne.
The most-traded July copper contract on the Shanghai Futures Exchange declined 0.8% to 70,920 yuan ($11,106.76) a tonne and was also set for a weekly decline.

Published 11 Jun, 2021 06:35pm

Markets

China eyes releasing up to 900,000 tonnes of aluminium reserves

"The stock releases could ... offset some of the shortages caused by imposed curtailments in Yunnan and Inner Mongolia."
China churned out 3.35 million tonnes of primary metal in April.

Updated 10 Jun, 2021 04:49pm

Markets

Copper edges lower on China demand concerns

Three-month copper on the London Metal Exchange slipped 0.2% to $10,201 a tonne.
Torlizzi expected copper prices to correct lower during the summer, when bullish investors would start buying again. He targeted $8,000 as an attractive level to re-enter the market.

Published 28 May, 2021 08:41pm

Markets

China crackdown on prices subdues industrial metals

Benchmark copper on the London Metal Exchange traded up 0.1% at $9,961 a tonne in official rings.
Prices of the metal used widely in the power and construction industries have fallen 7% since hitting a record high at $10,747.50 a tonne earlier this month.

Published 25 May, 2021 08:16pm

Markets

Copper retreats on fears over Chinese price crackdown

Copper on the London Metal Exchange (LME) was set for its biggest weekly drop since January after a sizzling rally with near 40% gains since the start of the year to a record peak of $10,747.50 last week.

Published 21 May, 2021 04:45pm

Markets

China April aluminium imports rise 36% from prior month

China, the world's top aluminium producer, brought in record amounts of the metal last year as strong demand helped Shanghai prices overtake London prices, opening an arbitrage window for cheaper overseas metal.

Published 18 May, 2021 11:31am

Markets

China's pollution clampdown drives aluminium to three-year peak

Benchmark aluminium on the London Metal Exchange was up 1% at $2,387 a tonne at 1121 GMT. Prices of the metal used widely in the transport, construction and packaging industries earlier touched $2,389, a gain of more than 20% since January.
Electricity, much of it from coal in China, can account for 30%-40% of aluminium smelting costs.

Published 23 Apr, 2021 05:35pm

Markets

Russia's Rusal to upgrade technology for 35pc of smelter capacity to cut emissions

The new cells will have the same total annual production capacity - of 1.4 million tonnes of aluminium. These four smelters in total produced 2.7 million tonnes of aluminium in 2020, or 71% of the company's output.
The 10-year project will start this year, and investments, which the Hong Kong-listed Rusal is yet to disclose, will peak in 2022-2027.

Published 14 Apr, 2021 08:41pm

Markets

China Jan-Feb aluminium output rises

SHANGHAI: China’s aluminium production rose 8.4% in the first two months of 2021 compared with the same period ...

Published 16 Mar, 2021 04:43am

Markets

Copper prices slip as China cools growth and credit plans

China is widely expected to rein in coronavirus-induced stimulus and cool credit growth to contain debt risks while maintaining support for ailing small firms. It has also set modest growth targets.
Three-month copper on the London Metal Exchange (LME) declined 1.4% to $8,883 a tonne.

Updated 09 Mar, 2021 09:30pm

Markets

Aluminium producer Norsk Hydro sued by Brazilian group over alleged pollution

The lawsuit is brought by a group of communities who live in the lower Amazon region in the Brazilian state of Para.
Hydro has three installations in Para: Paragominas, a bauxite mine; Alunorte, a refinery where the bauxite is transformed into alumina; and Albras.

Published 09 Feb, 2021 05:27pm

Markets

Russia's Rusal Q4 aluminium sales down 7.1pc y/y

Hong-Kong listed Rusal, the world's largest aluminium producer outside China, said its aluminium sales totalled 1.028 million tonnes in October to December 2020, up 2.0% quarter-on-quarter.
Sales to Europe as a proportion of the total fell 9 percentage points year-on-year to 45%, while Asia's share grew by 8 pp to 25%.

Updated 08 Feb, 2021 10:03pm