The queues at LME warehouses might be contracting but premiums for immediately delivery of aluminium – which are added to the benchmark futures price – are still sky high. But how much further can they go? The answer to this question will be widely debated. The answer will depend largely on the outlook for interest rates – key to the financing trades that have locked up millions of tonnes of the lightweight metal in warehouses – and also demand, which has been solid this year.
Related to this issue, there will be much discussion about the implementation of LME’s warehousing reforms now that the exchange has won its legal battle with Rusal. Delegates will also be keen to get an update on the LME’s new premium hedging contract.
The impact of the Ebola on the supply of bauxite – the world’s main source of aluminium – from west Africa is also likely to get an airing. And brokers will no doubt have a few choice words to say about the LME’s new fee structure.
'On behalf of the Board of Directors of Press Metal Berhad (“PMB”), Maybank Investment Bank Berhad wishes to announce that the shareholders of PMB have, at the extraordinary general meeting (“EGM”) of PMB held today, unanimously approved all the resolutions set out in the notice of EGM dated 1 October 2014.'
PMETAL CEO believes that aluminum prices to continue upward trend next year and should climb another 10% to USD2,200 from the current average of USD2,000/tonne as demand will continue to outstrip supply .He believes that the shortage of aluminium will continue for at least a few years .PEMETAL next 3Q14 result expect to see more than 8 times vs 3Q13 of RM8.6 million,that is approximately RM68 million.Its target price will hit to RM8.70 in the medium term
yes rchi...have always been here. didn't post anything cause was bz counting the gains from pmetal....from here onwards....price will move like comet shooting towards the brightest star....
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
CCV2013
121 posts
Posted by CCV2013 > 2014-10-20 15:35 | Report Abuse
ok... thanks.