JJU: iPath Dow Jones-UBS Aluminum Total Return Sub-IndexS ETN Instablogs

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Thursday, May 16, 2:54 PM Aluminum demand is strong despite record-high inventories and will be further buoyed in coming years by increased usage in the automotive and aerospace industries, a top Alcoa (AA +0.6%) and other industry players tell CRU's World Aluminum congress. Alcoa says it is investing $575M in two new U.S. automotive sheet production facilities to meet North American demand that should quadruple by 2015. 4 Comments [Commodities]
Tuesday, May 14, 7:49 AM The aluminum market (JJU) remains vastly oversupplied, even as the world’s top producer United Co. Rusal cuts Q1 output 4% to trim the global surplus that’s helped send prices 10% down YTD. A push by China to bolster aluminum production in Xinjiang province is adding to excess domestic stocks, Rusal notes. Also, LME-approved warehouses globally are piled high with 5M-plus tons of the metal. 2 Comments [Commodities, Global & FX]
Monday, March 11, 11:13 AM Kentucky state lawmakers are set to decide whether to let Century Aluminum (CENX -3.7%) buy power on the open market in its bid to save its money-losing smelter from closure. The bill could have implications for the U.S. aluminum industry, as high-cost electricity for aging plants has challenged producers to seek more efficient operations with aluminum prices dropping ~30% in two years. Comment! [Commodities, On the Move]
Thursday, March 7, 10:30 AM Sumitomo raises its forecast for a global aluminum surplus to the highest level in two years, saying demand from China won’t be enough to absorb new capacity. Supply is projected to outpace demand by 866K metric tons this year from 760K tons in 2012; China alone will have a surplus of ~510K tons after years of smelting capacity expansion. Comment! [Commodities, Global & FX]
Friday, November 16, 2012, 9:32 AM Industrial metals prices are set to rally into the middle of 2013, says Westpac's Justin Smirk, who has the hottest hand in forecasting of late. He's keeping it simple: Easy money in the U.S. and Europe will combine with a rebounding Chinese economy. Copper, zinc, nickel, and aluminum are all headed higher. Comment! [Commodities]
Thursday, April 12, 2012, 2:49 PM It's a good day to own commodity stocks. Alcoa's (AA +2.5%) strong Q1 and China optimism is not only lifting aluminum names, but also makers of steel (SLX +4.7%), copper (CU +4.1%), silver (SLVP +2.7%), and gold (PSAU +3.8%), among other things. 2 Comments [Commodities, On the Move]
Thursday, April 5, 2012, 9:53 AM Alcoa (AA +0.1%) will make further cuts in alumina production in response to weak demand, and to avoid aggravating oversupply in the Atlantic region. The company is slashing output capacity by 390K tons, having lowered refining capacity by 531K tons in January. Alcoa has total global refining capacity of 18M tons/year. Comment! [Commodities]
Wednesday, February 1, 2012, 3:42 PM Industrial metals enjoyed January's risk rally, with the basket of futures trading on the LME rising 10.9%, led by tin (JJT), up 26.5%. Looking to sink below $3/lb. 3-4 months ago, copper (JJC) has rallied all the way back to $3.84, and resurfaced bullish talk that there's just not enough of the metal being mined. 1 Comment [Commodities]
Thursday, January 12, 2012, 3:22 PM There's carnage in the grain pits after today's final USDA report on the 2011 harvest shows greater-than-expected production and ending stocks, surprising traders who had been leaning the other way. Corn was locked limit down all day, -6.1% at $6.11/bushel. Wheat -6.2% at $6.01. Beans -1.6% at $11.83. (ag stocks) 6 Comments [Commodities, On the Move]
Tuesday, December 20, 2011, 9:12 AM Goldman is lowering its 12-month aluminum price forecast to $2,400/ton, from a prior $2,650/ton, though the new target still represents a healthy increase from aluminum's current price of less than $1,900/ton. The firm expects production cutbacks from Chinese companies, some of whom are losing money, to bolster prices. Aluminum makers such as AA, NOR, CENX, ACH, and KALU have had a rough year. 1 Comment [Commodities]
Thursday, October 6, 2011, 11:07 AM Alcoa (AA) gains 4.5%, leading a bevy of aluminum producers higher on a slightly better outlook. The Motley Fool postulates prices may get some support with Goldman Sachs behind the scenes as a trader of the commodity. Gainers: CENX +2.7%, NOR +4%, AWC +3.7%. Comment! [Commodities, On the Move]
Tuesday, October 4, 2011, 7:41 AM "We have certainly seen a slowdown," admits a Rio Tinto (RIO) VP of demand for aluminum, but "the wheels are not falling off yet in terms of demand." He says Asia remains "pretty good," North America is flat, and the weakness is coming from Europe. Shares -1.5% premarket. Comment! [Commodities, Global & FX]
Friday, September 23, 2011, 1:12 PM Microscopic Fed rates and opaque information out of China have combined to distort the prices of industrial metals, but fundamentals such as years of rising stock/usage ratios are finally catching up. YTD: Copper JJC -28.5%, Lead LD -25%, Aluminum JJU -14.9%, Nickel JJN -23.7%. Comment! [Commodities]
Monday, August 8, 2011, 1:11 PM Commodity prices get slammed as economic fears intensify with some metals breaking through what is seen as important technical levels. Any current projections for commodity prices now need to be wadded up and be given a fresh macro look. Leading the downward spiral: Steel SLZ -7.4%, Copper JJC -7%, Tin JJT -6%. Comment! [Commodities, On the Move, Quick Ideas]
Tuesday, July 5, 2011, 11:43 AM Goldman, JPMorgan and other securities firms are snapping up warehouse operators to take advantage of the big profit opportunities in holding metals. Warehousers collect a holding fee and can charge a premium on large corporate orders, but critics worry firms will exploit their trading knowledge. 9 Comments [Financials, Commodities]
Friday, July 1, 2011, 2:49 PM S&P raises its outlook on Century Aluminum (CENX +2.9%) to Stable from Negative, and keeps a B rating in place. S&P says the company will benefit from higher aluminum prices, but finds cyclical risk and a high cost position in the U.S. on the downside. Comment! [Commodities]

JJU iPath Dow Jones-UBS Aluminum Total Return Sub-IndexS ETN

JJU

iPath Dow Jones-UBS Aluminum Total Return Sub-IndexS ETN