london metal exchange

Rusal Beats Market Expectations with Third Quarter Numbers

Rusal Beats Market Expectations with Third Quarter Numbers

Russian Federation aluminium titan UC Rusal reported third quarter numbers today. The firm boasted a significantly higher than expected twenty-two percent increase in earnings quarter-on-quarter, largely thanks to a bump in shipment and global prices and greater discipline by the company on...

Events

Hindalco Stock Corrected 6% Over Past Two Trading Sessions

Stock of India’s Hindalco Industries Ltd. has experienced a 6% correction over the last two trading periods on the National Stock Exchange of India. Experts say the slide in the Aditya Birla Group subsidiary is due to a similar dip in the price of primary aluminium on the LME. Although the sector has experienced a […]

Indian Government Abandons Plan to Implement Tariff on Unwrought Aluminium

Due to protectionism criticisms for tariffs levied on imported steel, India has shelved a plan to impose a 5% provisional safeguard duty on unwrought aluminium. Such a tariff would affect imports from countries like United Arab Emirates, Malaysia, Russia, South Africa, Oman, Qatar, Bahrain, and Thailand. The Directorate General of Safeguards recommended the tariff on […]

China’s Aluminium Prices Up, Semi Exports Down

China’s aluminium futures rose to their highest level in half a year on Monday, thanks to an increase in seasonal demand, and lowered domestic output due to capacity cuts made late last year. Stocks of aluminium ingots at major warehouses across China dropped from 937,000 metric tons last week to 870,000 metric tons this week. […]

JPMorgan Quietly Sheds Aluminium Stockpile After Report

A few short days after a report emerged alleging JP Morgan Chase & Co. owned over half of the aluminium traded on the London Metal Exchange, the financial giant quietly divested itself of approximately twenty percent of its stockpile. According to data published by Financial Times, the company’s position on the market is down to […]