LME aluminum

Joe Hinrichs, Ford Motor Co.’s president of the Americas, said Wednesday he doesn’t envision a run on all-aluminum cars if Ford’s aluminum-bodied F-150 is successful.

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Speaking at the Automotive News World Congress, Hinrichs said the launch of the new truck — which on Monday won the North American Truck of the Year award — is going “pretty well,” but that Ford will likely keep the aluminum bodies on its truck side, the Detroit News reported.

“One of the big benefits you get from light-weighting … you can tow more and haul more,” he said. “You don’t get those same benefits to a customer on the car side. Truck buyers will pay for more capability, car buyers will pay for better fuel economy, but there’s other ways to get fuel economy in a car without the need to provide more capability.

Staying around $1,766 per metric ton for the day, the aluminum cash price remained flat on the LME. The 3-month price of aluminum saw little price change yesterday on the LME at $1,782 per metric ton. After dropping for two days, the cash price of primary Indian aluminum flattened at INR 110.65 ($1.79).

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Chinese aluminum prices closed flat for the day. Chinese aluminum scrap stayed flat at around CNY 11,900 ($1,921) per metric ton. The price of Chinese aluminum billet remained essentially flat at CNY 13,200 ($2,131) per metric ton. Following two days of downward movement, the price of Chinese aluminum bar held steady at CNY 12,500 ($2,018) per metric ton. The cash price of Chinese aluminum flattened at CNY 12,490 ($2,016) following two-days of declines.

This week in aluminum, Novelis slowed down production at the Kentucky plant that supplies 40% of the aluminum beverage can sheet used by Coca-Cola and a much of MillerCoors’ beverage can needs, too.

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In the automotive world, Joe Hinrichs, Ford Motor Co.’s president of the Americas, said Wednesday he doesn’t envision a run on all-aluminum cars if Ford’s aluminum-bodied F-150 is successful.

Prices for Korean 1050 aluminum sheet saw the biggest increase on the weekly Aluminum MMI® this week, rising 16.3% and settling at KRW 4,290 ($3.96) per kilogram. Over the past week, Korean 3003 coil premium over 1050 sheet rose 16.0% to KRW 4,340 ($4.01) per kilogram. Korean 5052 coil premium over 1050 sheet prices climbed to KRW 4,490 ($4.15) per kilogram, up from KRW 3,890 ($3.56) a week ago. Following a steady week, prices for European 5083 plate closed flat at EUR 2,843 ($3,437) per metric ton.

* Get the complete prices every day on the MetalMiner IndX℠

Chinese aluminum prices were mixed for the week. For the third week in a row, the price of Chinese aluminum scrap dropped, falling 3.3% to CNY 11,900 ($1,921) per metric ton. The Chinese aluminum cash price fell 2.1% over the past week to CNY 12,490 ($2,016) per metric ton. This was the fourth week in a row of declining prices. The price of Chinese aluminum bar fell 2.1% over the past week to CNY 12,500 ($2,018) per metric ton. This was the fourth week in a row of declining prices.

The Indian aluminum cash price fell 2.5% over the past week to INR 110.65 ($1.79) per kilogram. This was the fourth week in a row of declining prices. The 3-month price of aluminum fell 1.3% on the LME over the past week to $1,782 per metric ton. This was the fourth week in a row of declining prices. The primary aluminum cash price fell 0.3% on the LME over the past week to $1,766 per metric ton. This was the fourth week in a row of declining prices.

The Aluminum MMI® collects and weights 12 global aluminum price points to provide a unique view into aluminum price trends. For more information on the Aluminum MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.

A major aluminum sheet manufacturer that supplies materials used by Coca-Cola Co. and MillerCoors for beverage cans has been forced to slow production as it works to fix a key piece of machinery that broke down last month.

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Output will be constrained until late January while repairs are made on a hot-roller motor at a facility in Russellville, Kentucky, said Fiona Bell, a spokeswoman for Novelis Inc., which partly owns the plant. The aluminum-rolling mill is the largest in North America and makes 44% of the beverage-can sheet used in the US, according to a fact-sheet provided by Bell.

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On Wednesday, January 14, the day’s biggest mover was the price of Chinese aluminum scrap, which saw a 2.5% decline to CNY 11,900 ($1,921) per metric ton. The Chinese aluminum cash price declined 2.3% to CNY 12,490 ($2,016) per metric ton. The price of Chinese aluminum bar fell to a 30-day low at CNY 12,500 ($2,018) per metric ton after shifting 2.3%. The price of Chinese aluminum billet continues hovering around CNY 13,200 ($2,131) per metric ton for the fifth day in a row.

The cash price of primary Indian aluminum weakened by 2.1%, settling at INR 110.65 ($1.79) per kilogram. The 3-month price of aluminum changed direction with a 2.0% drop. After two days of improving prices, the metal finished at $1,782 per metric ton on the LME. The primary aluminum cash price closed at $1,766 per metric ton. Following a couple days of improvement, prices fell by 1.8% on the LME.

US stocks rallied on Tuesday to bounce from a 2-day decline as financial results from Alcoa helped ease some investor worry regarding the corporate earnings season.

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Alcoa reported a higher-than-expected quarterly profit due to automotive demand, higher aluminum prices and lower energy costs. The stock opened higher but was last trading little changed at $16.18.

The metals maker reported fourth-quarter adjusted earnings per share of 33 cents, up from 4 cents a share in the year-earlier period, and beating analysts’ forecast. Revenue also beat expectations at $6.38 billion, up from from $5.59 billion a year ago mostly from diversified automotive and aerospace returns.

With a 1.2% increase over the past day, the cash price of primary aluminum was the biggest mover on the LME, closing at $1,798 per metric ton on Monday, January 12. The cash price of primary Indian aluminum fell 1.1% to INR 113.00 ($1.82) per kilogram. After rising 0.9%, prices settled at $1,818 per metric ton, driving an accelerated rise since Tuesday, January 6. Today marks the fifth day in a row of improvement for the 3-month price of aluminumon the LME.

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Chinese aluminum prices were mixed for the day. The cash price of Chinese aluminum declined 0.4% to CNY 12,780 ($2,058) per metric ton. Chinese aluminum bar ended the day at CNY 12,790 ($2,060) per metric ton, after the 0.4% drop on Monday. The price of Chinese aluminum scrap remained essentially flat at CNY 12,200 ($1,965) per metric ton. For the fifth day in a row, the price of Chinese aluminum billet remained essentially flat at CNY 13,200 ($2,126) per metric ton.

Ford Motor Company‘s aluminum-body 2015 F-150 pickup won the North American Truck of the Year award by topping the votes of the independent, 57-member jury of US and Canadian auto writers and editors.

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The F-150 is first standard-duty pickup to use an aluminum body, which cuts weight for better mileage and greater towing and hauling capabilities. It went on sale in November. It also drives more nimbly than most pickups, the voters said.

On Friday, January 9, the day’s biggest mover was the Indian aluminum cash price, which saw a 0.9% increase to INR 114.30 ($1.83) per kilogram. This increase comes after the price fell for the two previous days. Following a 0.8% rise last Friday, the cash price of primary aluminum closed on the LME at $1,776 per metric ton. After falling for two days, the aluminum 3-month price rose 0.6% on the LME to $1,802 per metric ton.

* Get the complete prices every day on the MetalMiner IndX℠

Chinese aluminum closed mixed last Friday. Today marks the fifth day in a row of increases for the cash price of Chinese aluminum. After climbing 0.5%, prices settled at CNY 12,830 ($2,065) per metric ton, driving an accelerated improvement since Monday, January 5. After hitting a 30-day low of CNY 12,840 ($2,066) per metric ton on Wednesday, January 7, the price of Chinese aluminum bar rose 0.5% last Friday. The price of Chinese aluminum scrap steadied at CNY 12,200 ($1,963) per metric ton following two-days of dropping prices. The price of Chinese aluminum billet held steady at CNY 13,200 ($2,124) per metric ton.

Despite most analysts agreeing that aluminum is in deficit, outside factors such as the strong US dollar and oil prices are still pushing prices of the non-ferrous metal down.

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After a big decline this week, the aluminum market is looking forward to Monday when Alcoa will report and kick off earnings week in the US. Most expect strong earnings for the now-diversified metals company.

The week’s biggest mover on the weekly Aluminum MMI® was the cash price of primary Indian aluminum, which saw a 4.3% decline to INR 113.25 ($1.79) per kilogram. This week marked the third in a row of declining prices for the metal. The primary aluminum cash price fell to $1,762 per metric ton on the LME, a 3.9% change from the prior week. The aluminum 3-month price fell 3.4% on the LME over the past week to $1,791 per metric ton. This was the fourth week in a row of declining prices.

* Get the complete prices every day on the MetalMiner IndX℠

Chinese aluminum prices were mixed for the week. Chinese aluminum scrap finished the week at CNY 12,200 ($1,964) per metric ton after falling 3.2%. The cash price of Chinese aluminum fell 1.8% over the past week to CNY 12,760 ($2,054) per metric ton. This was the fourth week in a row of declining prices. The price of Chinese aluminum bar fell 1.8% over the past week to CNY 12,770 ($2,055) per metric ton. This was the fourth week in a row of declining prices.

Prices for Korean 3003 coil premium over 1050 sheet remained constant, closing the week at KRW 3,740 ($3.42) per kilogram. At KRW 3,890 ($3.55) per kilogram, the price of Korean 5052 coil premium over 1050 sheet did not change since the previous week. Following a steady week, prices for European 5083 plate closed flat at EUR 2,843 ($3,437) per metric ton. European 1050 aluminum prices held steady from the previous week at EUR 2,499 ($3,021) per metric ton.

The Aluminum MMI® collects and weights 12 global aluminum price points to provide a unique view into aluminum price trends. For more information on the Aluminum MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.

London Metal Exchange aluminum is languishing near its weakest point in 7 months on fears oil’s slump signals a slowdown in economic growth and weaker commodities demand.

FREE Download: The Monthly MMI® Report – covering the Aluminum market.

The day’s biggest mover was the aluminum 3-month price which dropped by 0.9% on Thursday, January 8 to close at $1,791 per metric ton on the LME. The primary aluminum cash price weakened by 0.6% on the LME, settling at $1,762 per metric ton. The Indian aluminum cash price saw a 0.2% decline to INR 113.25 ($1.79) per kilogram.

* Get the complete prices every day on the MetalMiner IndX℠

Chinese aluminum prices were mixed for the day. Chinese aluminum scrap closed 0.8% lower at CNY 12,200 ($1,964) per metric ton. The price of Chinese aluminum billet saw essentially no change for the fifth day in a row, remaining around CNY 13,200 ($2,125) per metric ton. The price of Chinese aluminum bar flattened at CNY 12,770 ($2,055) following two-days of declines. The Chinese aluminum cash price flattened at CNY 12,760 ($2,054) per metric ton after two days of downward movement.

Investorplace‘s Dan Burrows wrote that Alcoa is “no longer just a boring old materials play on aluminum, Alcoa stock now represents a stake in a value-added industrial company that make high-tech products and alloys for the auto and aerospace markets.”

FREE Download: The Monthly MMI® Report – covering the Aluminum market.

Alcoa will release its fourth quarter earnings Monday, kicking off the earnings season, and most analysts expect them to soar on an adjusted basis.

The cash price of primary Indian aluminum saw a 1.9% drop on Wednesday, January 7, landing at INR 113.45 ($1.78) per kilogram and making it the biggest mover of the day. The cash price of primary aluminum weakened by 1.1% on the LME, settling at $1,772 per metric ton. On the LME, the 3-month price of aluminum declined 0.9% to $1,806 per metric ton.

* Get the complete prices every day on the MetalMiner IndX℠

Chinese aluminum prices were mixed for the day. The price of Chinese aluminum scrap declined 0.8% to CNY 12,300 ($1,981) per metric ton. The cash price of Chinese aluminum saw a 0.4% decline to CNY 12,760 ($2,055) per metric ton. The price of Chinese aluminum bar reached a 30-day low after decreasing 0.4% to CNY 12,770 ($2,056) per metric ton. The price of Chinese aluminum billet remained essentially flat at CNY 13,200 ($2,126) per metric ton.

The monthly Aluminum MMI® registered a value of 89 in January, a decrease of 5.3% from 94 in December.

Aluminum_Chart_January-2015_FNL

Aluminum fell again in another volatile month. After the bullish first half of 2014, aluminum seems unable to rise in the face of a strong dollar and sinking oil prices. Primary Aluminum on the LME is back bellow $1,900/ton as the bears have regained control.

If you frequently read us, you should have heard us arguing that 40% of the movements that a metal makes are due to the general market, another 30% due to the metal sector and the remaining 30% due to what is going on with that specific metal. This means that an individual metal has little upside potential while commodities and industrial metals are both in bearish mode.

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Amsterdam-based Constellium NV, one of the world’s biggest aluminum companies, will shift its focus to the US from Europe, Chief Executive Pierre Vareille said in an interview with the Wall Street Journal.

FREE Download: The Monthly MMI® Report – covering the Aluminum market.

Car makers are increasingly using aluminum instead of steel as they try to meet new government fuel-efficiency standards by making cars lighter. By 2025, 18% of all vehicles in the US will have all-aluminum bodies, compared with less than 1% now, according to Ducker Worldwide, a consulting and market-research firm.

“In Europe, for the time being the cars that have switched to aluminum are high brand,” Mr. Vareille told the WSJ. “In this country, it’s the high sellers, and it’s been very brutal, very quick.”

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On Tuesday, January 6, the day’s biggest mover was the price of Chinese aluminum scrap, which saw a 1.6% decline to CNY 12,400 ($1,993) per metric ton. This was the first move after three changeless days. The Chinese aluminum cash price declined 0.5% to CNY 12,810 ($2,059) per metric ton. Chinese aluminum bar saw its price drop 0.5% to a 30-day low of CNY 12,820 ($2,061) per metric ton yesterday. The price of Chinese aluminum billet saw essentially no change for the fifth day in a row, remaining around CNY 13,200 ($2,122) per metric ton.

Declining prices continue for the cash price of primary aluminum on the LME. It closed at $1,793 per metric ton only after falling further, this time by. The aluminum 3-month price saw a 1.4% decline on the LME to $1,822 per metric ton. The Indian aluminum cash price weakened by 0.6%, settling at INR 115.70 ($1.82) per kilogram.

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