“Daily Mining and Exploration News on Copper and Aluminium”—-Copper and aluminium price tumbled to their lowest in almost three years on Wednesday, dragged down by worries about slowing demand for metals and a strong dollar.
Major U.S. stock indexes fell more than 3 percent in early trade while European stocks sank 5 percent, led lower by falling mining stocks such as BHP Billion and Rio Tinto.
London Metal Exchange copper for delivery in three months dropped to $4,099 a tonne, its weakest since November 2005 and in Shanghai, copper plunged by its 5 percent limit to 36,070 yuan ($5,278) a tonne, a three-year low.
By 1409 GMT, copper was at $4,125 per tonne versus $4,500 on Tuesday. The metal, used in power and construction, has more than halved from a record high of $8,940 a tonne in July.
“What we’re seeing is market pricing expectations of near recessionary demand for base metals,” analyst Gayle Berry at Barclays Capital said, adding a rise in copper stocks also added to worries of weakening demand.
Copper stocks in LME warehouses rose 1,850 tonnes to 207,750 — about 90 percent above the lows for this year seen in May and accounting for just over four days of global consumption.
The dollar also weighed on metals, as it soared to a two-year high against the euro and a five-year high against sterling. Metals are priced in dollars, and a stronger dollar makes it more expensive for holders of other currencies.
“The stronger dollar is also having an influence as it reduces demand for metals from around the world,” said Ashok Shah, chief investment officer at London & Capital.
CHINA SLOWS
The prices of some metals rallied to record highs this year, and seemed immune to the credit crunch that began to take its toll on other markets last year because demand in China appeared intact, analysts say. But that seems to have changed.
“Demand from China was a big driver and now the momentum in terms of demand is coming down very quickly,” said Shah.
Growth China — the world’s biggest consumer of copper — is slowing, and data this week showed soft industrial production and a fall in GDP growth to 9 percent in the third quarter from above 10 percent.
The world’s biggest miner BHP Billiton warned Chinese demand was set to weaken, although it showed little sign of trimming output.
“China has not been immune to the global slowdown,” BHP said. “We expect volatility and uncertainty to continue in the short term.”
China is also the world’s biggest buyer of aluminium scrap, used to produce aluminium alloy, and scrap merchants were defaulting on and delaying imports of contracted scrap, traders said.
Aluminium plummeted to $1,976 per tonne, its lowest since November 2005 and was last at $2,000 versus Tuesday’s $2,080. Lead fell almost 9 percent or $120 to a low of $1,250 a tonne — the lowest since September 2006.
Zinc shed $21 to $1,144 a tonne and earlier it touched $1,118 — the lowest since December 2004 and nickel traded down at $10,150 from $10,700/10,705.
Tin lost 6.4 percent to $11,510, its weakest since January 2007, before being quoted at $11,625, down $675.
Metal Prices at 1428 GMT
Metal Last Change Pct Move End 2007 Ytd Pct
move
LME Cu 4130.00 -370.00 -8.22 6670.00 -38.08
SHFE Cu* 36070.00 -1090.00 -2.93 56880.00 -36.59
LME Alum 1993.00 -87.00 -4.18 2403.00 -17.06
SHFE Alu* 13700.00 -420.00 -2.97 18180.00 -24.64
COMEX Cu** 188.30 -12.40 -6.18 303.05 -37.87
LME Zinc 1144.00 -21.00 -1.80 2370.00 -51.73
SHFE Zinc* 9800.00 -410.00 -4.02 18950.00 -48.28
LME Nick 10050.00 -500.00 -4.74 26350.00 -61.86
LME Lead 1245.00 -125.00 -9.12 2550.00 -51.18
LME Tin 11625.00 -675.00 -5.49 16400.00 -29.12 ** 1st contract month for COMEX copper * 3rd contact month for SHFE AL, CU and ZN SHFE ZN began trading on 26/3/07
Showing posts with label Aluminium. Show all posts
Showing posts with label Aluminium. Show all posts
Friday, October 24, 2008
Wednesday, August 6, 2008
Mining News-US - Related Industries Burnishing Aluminum Industry
The US aluminum industry, the fourth largest industry in the world, accounts for 16% of the world supply and is growing rapidly because of high domestic consumption and strong associated industries.
(1888PressRelease) March 12, 2008 - Metal industry is the backbone of all industries, be it infrastructure, physical plants and facilities, or heavy industry and consumer goods. And aluminum, being a multi-purpose element with innumerable benefits over other metals, is essential for various industries. Countries all over the world are exploiting aluminum deposits to infuse growth in their industrial segment. Specifically the US is strengthening the position of its aluminum industry, the world’s fourth largest industry in terms of annual primary production, by paying adequate attention on efficient production technologies and government support and hence, it accounts for over 16% of the global supply, which is equal to 8 Billion pounds of metal. Considering such high growth potential, RNCOS, a leading market research firm, has come up with its new report, “US Aluminum Market Analysis”, containing vital information about the industry.
The study has identified that the US accounts for around 9% market share worldwide, which is quite significant at the country level. The RNCOS research has given an insight into how other industries are contributing to the growth of the aluminum sector by focusing on their current growth and future prospects. Automobile, Packaging, Building and Construction industries have been identified by the research as the largest aluminum consumers in the country and thus, benefiting the aluminum industry.
The RNCOS report has focused on impact of the rapidly growing consumer electronics market on the US aluminum industry. Growth in the consumer electronics has opened new avenues for the aluminum industry, like recycling, and making lightweight and durable metal. It is apparent that the demand for good quality aluminum is rising in the country, however, the cost structure, which includes energy and labor industries, is obstructing to fulfill this demand.
An analysis is incomplete without a thorough discussion on each segment of the industry, thus, “US Aluminum Market Analysis” has incorporated a detailed study on import and export trends, involvement of other industries in the progress of aluminum industry, new avenues for growth, challenges for the industry, government support and future outlook.
The report has examined the past and current performance of the US aluminum market and looks into its future prospects. It updates on the trends and developments in the market vis-à-vis the global scenario.
About RNCOS:
RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today’s globally competitive environment.
For more information visit: www.rncos.com
Current Industry News: www.rncos.com
(1888PressRelease) March 12, 2008 - Metal industry is the backbone of all industries, be it infrastructure, physical plants and facilities, or heavy industry and consumer goods. And aluminum, being a multi-purpose element with innumerable benefits over other metals, is essential for various industries. Countries all over the world are exploiting aluminum deposits to infuse growth in their industrial segment. Specifically the US is strengthening the position of its aluminum industry, the world’s fourth largest industry in terms of annual primary production, by paying adequate attention on efficient production technologies and government support and hence, it accounts for over 16% of the global supply, which is equal to 8 Billion pounds of metal. Considering such high growth potential, RNCOS, a leading market research firm, has come up with its new report, “US Aluminum Market Analysis”, containing vital information about the industry.
The study has identified that the US accounts for around 9% market share worldwide, which is quite significant at the country level. The RNCOS research has given an insight into how other industries are contributing to the growth of the aluminum sector by focusing on their current growth and future prospects. Automobile, Packaging, Building and Construction industries have been identified by the research as the largest aluminum consumers in the country and thus, benefiting the aluminum industry.
The RNCOS report has focused on impact of the rapidly growing consumer electronics market on the US aluminum industry. Growth in the consumer electronics has opened new avenues for the aluminum industry, like recycling, and making lightweight and durable metal. It is apparent that the demand for good quality aluminum is rising in the country, however, the cost structure, which includes energy and labor industries, is obstructing to fulfill this demand.
An analysis is incomplete without a thorough discussion on each segment of the industry, thus, “US Aluminum Market Analysis” has incorporated a detailed study on import and export trends, involvement of other industries in the progress of aluminum industry, new avenues for growth, challenges for the industry, government support and future outlook.
The report has examined the past and current performance of the US aluminum market and looks into its future prospects. It updates on the trends and developments in the market vis-à-vis the global scenario.
About RNCOS:
RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today’s globally competitive environment.
For more information visit: www.rncos.com
Current Industry News: www.rncos.com
Mining News-New Report Predicts That U.s Aluminium Market To Grow By 210,000 Metric Tons From 2007-2011
Report Buyer, the online destination for business intelligence for major industry sectors, has added a new report which finds that the U.S. aluminium market is expected to grow by volume by 210,000 Metric Tons (nearly 9%) during 2007-2011.
(1888PressRelease) April 12, 2008 - Report Buyer, the online destination for business intelligence for major industry sectors, has added a new report which finds that the U.S. aluminium market is expected to grow by volume by 210,000 Metric Tons (nearly 9%) during 2007-2011.
The report, “US Aluminum Market Analysis”, which is available at http://www.reportbuyer.com/go/ RCS00338, finds that factors like enhanced energy supply capacity, new cost efficient production technologies and government support have helped drive the market.
Analysts say that the U.S. aluminum industry is the world’s largest single producer of primary aluminum. The US industry operates over 300 plants in 35 states, produces more than 23 billion pounds of metal annually, and employs over 145,000 people with an annual payroll of about US$ 5 billion.
The study says aluminum is one of the few products and industries left in America that truly impacts every community in the country, either through physical plants and facilities, recycling, heavy industry, or consumption of consumer goods.
Authors of the report say that market demand is largely fueled by the need for aluminum by various industry sectors, particularly transport and packaging sector and that the aluminum consumption market is highly relied on imported aluminum.
The publication notes that aluminum is chiefly imported from a number of countries, such as Canada, Russia, China and Mexico, where the cost of production is relatively lower. This makes imported aluminum cost effective, thereby posing a significant challenge for the domestic producers.
“US Aluminum Market Analysis” analyses the various drivers and challenges impacting the market including the influence of the automobile market.
“US Aluminum Market Analysis” is available from Report Buyer.
For more information, see website.
http://www.reportbuyer.com/industry_manufacturing/index.html
Report Buyer product ID: RCS00338
About Report Buyer.
Report Buyer is a UK-based independent online store supplying business information on major industry sectors. These include the Automotive Industry, Banking & Finance, Energy & Utilities, Food & Drink, Telecoms and Pharma & Healthcare. The website now carries over 50,000 business information products, including market reports, studies and books. Report Buyer is the intelligent way to buy market research making it an essential resource for executives and information buyers worldwide. Subscribers receive a free monthly newsletter and email alerts on new titles in their areas of interest. A regularly updated blog provides information on the latest market trends.
(1888PressRelease) April 12, 2008 - Report Buyer, the online destination for business intelligence for major industry sectors, has added a new report which finds that the U.S. aluminium market is expected to grow by volume by 210,000 Metric Tons (nearly 9%) during 2007-2011.
The report, “US Aluminum Market Analysis”, which is available at http://www.reportbuyer.com/go/ RCS00338, finds that factors like enhanced energy supply capacity, new cost efficient production technologies and government support have helped drive the market.
Analysts say that the U.S. aluminum industry is the world’s largest single producer of primary aluminum. The US industry operates over 300 plants in 35 states, produces more than 23 billion pounds of metal annually, and employs over 145,000 people with an annual payroll of about US$ 5 billion.
The study says aluminum is one of the few products and industries left in America that truly impacts every community in the country, either through physical plants and facilities, recycling, heavy industry, or consumption of consumer goods.
Authors of the report say that market demand is largely fueled by the need for aluminum by various industry sectors, particularly transport and packaging sector and that the aluminum consumption market is highly relied on imported aluminum.
The publication notes that aluminum is chiefly imported from a number of countries, such as Canada, Russia, China and Mexico, where the cost of production is relatively lower. This makes imported aluminum cost effective, thereby posing a significant challenge for the domestic producers.
“US Aluminum Market Analysis” analyses the various drivers and challenges impacting the market including the influence of the automobile market.
“US Aluminum Market Analysis” is available from Report Buyer.
For more information, see website.
http://www.reportbuyer.com/industry_manufacturing/index.html
Report Buyer product ID: RCS00338
About Report Buyer.
Report Buyer is a UK-based independent online store supplying business information on major industry sectors. These include the Automotive Industry, Banking & Finance, Energy & Utilities, Food & Drink, Telecoms and Pharma & Healthcare. The website now carries over 50,000 business information products, including market reports, studies and books. Report Buyer is the intelligent way to buy market research making it an essential resource for executives and information buyers worldwide. Subscribers receive a free monthly newsletter and email alerts on new titles in their areas of interest. A regularly updated blog provides information on the latest market trends.
Subscribe to:
Posts (Atom)