SHFE aluminium falls, East China premium pulls back
Today, the centre of SHFE aluminium futures fell from the previous trading day, market shipment sentiment was relatively pronounced, and overall spot aluminium transactions shifted to discounts. Today, market transactions for A00 aluminium ingot premiums were between a discount of RMB 40 per tonne...
Concerns over liquidity tightening ease marginally, aluminium prices are under pressure at high levels in the short term
Futures: SHFE aluminium closed at RMB 24,010 per tonne, down 0.62 per cent, with the price breaking below MA5 (around 24,160) but holding slightly above MA10 (23,988.5); short-term moving average support faces a test, while medium-term MA30 (23,469.5) and MA60 (23,699.67) remain in bullish...
Grow with
AL Circle
Vedanta raises prices of aluminium ingots after 5 cuts in a row
Vedanta Ltd has raised the prices of aluminium ingots after cutting them five times in a row, trade sources told Cogencis. The natural resources major raised the prices of these products by nearly 2% with effect from Thursday, for the first time since early September. The hike in prices is in line...
LME aluminium continued upward yesterday to close at US$1,744/t overnight; SHFE traded higher on the opening day
The US dollar strengthened against a basket of other currencies on Tuesday as investors monitored the latest news around US-China trade talks and digested comments from the top Federal Reserve official. LME base closed lower on Tuesday and aluminium fell 0.4%. The SHFE complex also traded mostly...
LME aluminium closed lower at US$ 1756/t; SHFE aluminium gained 0.3%
The US dollar strengthened on Monday, as investors were attracted to its relatively high yield and the strength of the US economy. LME base metals closed mixed on Monday. LME aluminium stayed flat and SHFE aluminium gained 0.3%. LME aluminium closed 0.57% lower at US$ 1756 per tonne on Monday, 23...
Both LME and SHFE aluminium traded in a tight range on Friday night; likely to trade higher today
The US dollar rose against a basket of currencies on Friday, prompted by hopes of progress in US-China trade talks and that the Federal Reserve would not lower rates aggressively. LME base metals closed mixed in Friday. LME aluminium fell 0.5% and SHFE aluminium inched up 0.2%. LME aluminium ended...
LME plunged below its early September level yesterday; SHFE moves within 20-day moving averages
The US dollar fell on Tuesday ahead of an expected US interest rate cut from the Federal Reserve. LME base metals, except for aluminium, closed lower on Tuesday. SHFE aluminium rose 0.2%. After a weeklong upward movement, LME has started its downturn to a level below early September. Three-month...
Three-month LME aluminium moves higher to reach the highest since July 26; SHFE trades range bound
The US dollar stayed in its recent tight range and the index, which tracks the greenback against a basket of other currencies, gained 0.04% to end at 98.37 yesterday. LME base metals closed mixed while SHFE settled mostly higher on Tuesday. LME aluminium gained 1.2% and SHFE aluminium grew 0.1%....
Weekly update: LME recovered from a depressing week; SHFE traded strong on consumption recovery
The US dollar continued to rise to a more than two-year high of 99.13 on expectations of an upcoming interest rate cut by the Federal Reserve. After holding it for two days, the dollar dropped 0.55% against a basket of major currencies, to 98.38, marking its biggest one-day loss in three months....
Three months LME aluminium continued recovering from lows and shot higher at US$1,793/t last night; SHFE closed higher
The US dollar held its earlier losses against a basket of currencies as payroll processor ADP said US private hiring came in stronger than expected in August, while it revised lower its job reading for July. Three-month LME aluminium closed higher for the third consecutive trading day as departing...
Three months LME aluminium underperformed overnight after a rise in day's trading; SHFE likely to remain strong
The US dollar traded rangebound on Tuesday as investors awaited the latest interest rate decision from the Federal Reserve and the index inched up 0.01% to 98.066. LME base metals closed lower across the board on Tuesday. LME aluminium declined 0.6% and SHFE aluminium traded lower overnight....
Both LME and SHFE registered a drop on Monday after a week of rise; rising greenback will keep prices rangebound today
The US dollar inched up on Monday as investors tempered expectations for an aggressive Federal Reserve interest rate cut later this month. LME base metals, closed lower on Monday. Aluminium tumbled 1.8% and SHFE aluminium shed 0.6%. Three-month LME aluminium slipped 1.81% to close at US$1,813.5 per...
LME aluminium continued upward for the third consecutive day; SHFE September contract regained losses
The US dollar softened on lower US bond yields and expectations that the Federal Reserve would cut interest rates. The dollar index fell 0.17% and ended at 97.217. LME base metals traded higher across the board. Aluminium advanced 0.2% and SHFE aluminium lost 0.4%. Three-month LME aluminium rose...
Improved market sentiment pulled up three months LME aluminium from the previous day; SHFE to trade rangebound
The US dollar index rose on Wednesday, even as government data showed moderate US inflation in May. Most LME base metals closed lower on Wednesday but aluminium advanced 0.5%. SHFE base metals performed similarly overnight and aluminium inched up. Improved market sentiment bolstered three-month LME...
Hindalco cuts prices of aluminium products by nearly 2% from Wed
Hindalco Industries Ltd. has cut the prices of aluminium products by nearly 2% with effect from Wednesday, trade sources told Cogencis. With this price cut, rates of the company's products have slipped to a multi-month low. The rates are down more than 7% compared to the previous quarter. The...
Three months aluminium gained overnight on weak greenback; SHFE likely to trade rangebound today
The US dollar dipped on Tuesday after comments from Federal Reserve Chair Jerome Powell fuelled expectations of a cut in interest rates. LME base metals closed mixed on Tuesday. Aluminium climbed 0.6%. SHFE base metals also saw mixed performance overnight. Aluminium traded marginally lower. After...
Capacity cut news in Henan supported SHFE aluminium yesterday; LME remained closed on Monday
The US dollar recovered some ground on Monday, as market holidays in Britain and the US muted trades. Most SHFE base metals traded higher overnight but aluminium dipped close to 0.1%. LME remained closed yesterday. As on May 21, Friday, LME aluminium cash (bid) price stood at US$ 1761 per tonne,...
LME aluminium saw two consecutive gains; SHFE likely to trade robust on cost support
The US dollar retreated after a gain and ended flat on the day on disappointing data on the US retail sales for April. Base metals rose across the board and LME aluminium rose 0.68%. SHFE aluminium increased 0.38%. LME aluminium price saw two consecutive increases in last two days and crossed the...
Solid demand and cost support helped SHFE 1906 contract outperform its LME counterpart last night; trend to continue in short term
The US dollar came under pressure as investors moved towards safe-haven currencies such as the Japanese yen and Swiss franc. Despite that the greenback hit a four-month high against the Chinese yuan on Monday. The yuan slid with the escalation of trade war between the US and China. China announced...
LME aluminium opens lower after Early May Bank Holiday; SHFE to trade at RMB14,000-14,100/t
The US dollar weakened against the Japanese yen. LME aluminium grew 1.06% and SHFE aluminium finished slightly higher last night. Benchmark aluminium price on London Metal Exchange dropped to close at US$ 1767 per tonne on Tuesday, May 7, from US$ 1783.5 per tonne on Friday May 3. LME aluminium is...
