Bursa Alert
Global Market
NewsHot Stock Press Metal falls 4.9% as Shanghai aluminium price sinks to 7-month low
Page 1 of 1
Hot Stock Press Metal falls 4.9% as Shanghai aluminium price sinks to 7-month low
by Cals Wed 10 Dec 2014, 03:38
Hot Stock
Press Metal falls 4.9% as Shanghai aluminium price sinks to 7-month low
By Supriya Surendran / theedgemarkets.com | December 9, 2014 : 11:33 AM MYT
KUALA LUMPUR(Dec 9) : Press Metal Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) saw its share price fall as much as 15 sen, or 4.9%, to a low of RM2.91 this morning, as Shanghai aluminium prices sunk to a 7-month low.
At 10.51 a.m today, Press Metal’s share price climbed slightly to RM2.94 from its earlier low but was still 12 sen, or 3.9%, lower than its closing price of RM3.06 yesterday, with 535,800 shares traded.
According to a Reuters report today, Shanghai aluminium plumbed its lowest since May on Tuesday, as growing overcapacity and a shaky demand outlook in China curbed buying that had already begun to wane towards year-end.
The most traded February aluminium contract on the Shanghai Futures Exchange had fallen as far as 13,300 yuan ($2,151) a tonne by 0219 GMT, down 0.8 percent to its lowest level since May 16.
However, Reuters said U.S. aluminum imports in October were at their highest for the month since 2008 as bigger inflows from Canada offset a slowdown in material from Russia, according to International Trade Commissiondata released on Monday.
Press Metal falls 4.9% as Shanghai aluminium price sinks to 7-month low
By Supriya Surendran / theedgemarkets.com | December 9, 2014 : 11:33 AM MYT
KUALA LUMPUR(Dec 9) : Press Metal Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) saw its share price fall as much as 15 sen, or 4.9%, to a low of RM2.91 this morning, as Shanghai aluminium prices sunk to a 7-month low.
At 10.51 a.m today, Press Metal’s share price climbed slightly to RM2.94 from its earlier low but was still 12 sen, or 3.9%, lower than its closing price of RM3.06 yesterday, with 535,800 shares traded.
According to a Reuters report today, Shanghai aluminium plumbed its lowest since May on Tuesday, as growing overcapacity and a shaky demand outlook in China curbed buying that had already begun to wane towards year-end.
The most traded February aluminium contract on the Shanghai Futures Exchange had fallen as far as 13,300 yuan ($2,151) a tonne by 0219 GMT, down 0.8 percent to its lowest level since May 16.
However, Reuters said U.S. aluminum imports in October were at their highest for the month since 2008 as bigger inflows from Canada offset a slowdown in material from Russia, according to International Trade Commissiondata released on Monday.
Cals- Administrator
- Posts : 25277 Credits : 57721 Reputation : 1766
Join date : 2011-09-08
Location : global
Comments : “My plan of trading was sound enough and won oftener that it lost. If I had stuck to it Iâ€
d have been right perhaps as often as seven out of ten times.â€
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis
Similar topics» Hot Stock Press Metal rises 6% on potential upturn in aluminium price
» Hot Stock Press Metal rises 2.1% on lucrative aluminium auto parts segment
» Hot Stock Press Metal drops 15.6% despite aluminium fundamentals intact
» Hot Stock Press Metal rises 3% on higher aluminium prices
» Hot Stock Press Metal rises 4.4% amid surging aluminium prices
» Hot Stock Press Metal rises 2.1% on lucrative aluminium auto parts segment
» Hot Stock Press Metal drops 15.6% despite aluminium fundamentals intact
» Hot Stock Press Metal rises 3% on higher aluminium prices
» Hot Stock Press Metal rises 4.4% amid surging aluminium prices
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum