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...
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LME remained closed on Monday; SHFE aluminium opened lower on Monday and recovered some losses overnight
The US dollar increased on Monday as the cautious stance in the global markets sustained the upside momentum in the greenback. , after the US President Donald Trump re-ignited trade effervescence on Sunday. SHFE nonferrous metals closed lower on the first trading day after the Labour Day holiday,...
LME closed the week lower at 1843.50 per tonne; a weak dollar likely to give support to both LME and SHFE today
The US dollar index slipped on Friday as the euro rose sharply. LME base metals traded higher across the board on Friday April 12. LME aluminium advanced about 0.3% and SHFE aluminium popped 0.1%. LME closed the week lower at 1843.50 per tonne on Friday. As the US dollar weakened, three-month LME...
CRU completes independent assurance review for its leading Alumina Price Index (CRU-API)
CRU has announced the successful completion of the independent assurance review for its leading, transaction-only based, CRU-API (Alumina Price Index) price. The review was carried out by independent professional services company PricewaterhouseCoopers LLP (PwC). This report was prepared to...
LME launches seven new contacts including alumina and aluminium premium contracts
The London Metal Exchange (LME) launched seven new cash-settled futures contracts on Monday, March 11, including contracts on alumina and aluminium premium. The new contracts are launched to attract more business after profits fell last year. London Metal Exchange (LME) announced about the launch...
Falling US dollar lifts LME aluminium overnight after a slow start on Monday; SHFE to hover in a broad range
The US dollar slipped into negative territory, following an anticipated retail sales report that drew little reaction from the greenback. Base metals closed mixed and aluminium fell 0.51%. SHFE aluminium climbed. LME aluminium closed lower on Monday at US$1830 per tonne. After that a weaker US...
DGCX to launch aluminium and zinc futures contracts on March 22
The Dubai Gold & Commodities Exchange and its clearing house the Dubai Commodities Clearing Corporation plans to launch aluminium and zinc future contracts on March 22. DGCX, an electronic commodity and derivatives exchange offers futures and options contracts covering the precious metals, energy,...
Lower aluminium prices and weekend stockpiling lead to brisk aluminium trading in east China
Shanghai Metals Market found brisk trading in east China on Friday morning, March 1, as lower aluminium prices improved purchasing willingness among traders and downstream consumers. Weekend stockpiling was also an important reason for the improved purchasing and therefore, brisk trading as a...
Spot aluminium discounts narrow in east China markets
On Thursday February 28, as updated by Shanghai Metals Market, spot aluminium discounts narrowed in east-China markets as prices of futures dropped. The front-month March aluminium contract on the Shanghai Futures Exchange weakened in the morning. In Shanghai, spot discounts were heard at RMB50 per...
Aluminium futures slip 0.29% on muted demand
Aluminium prices softened by 0.29 per cent to Rs 136 per kg in futures trade Thursday as speculators cut bets amid subdued demand at domestic spot market. At the Multi Commodity Exchange, aluminium for delivery in February eased by 40 paise, or 0.29 per cent, to Rs 136 per kg in a business turnover...
London Metal Exchange to launch new alumina and aluminium premium contracts in March
According to a Reuter’s report, the London Metal Exchange (LME) has announced seven new contracts to be launched on March 11. LME has not been very successful in launching new products and are mostly dependent on its core base metal contracts. LME hopes to boost trading activities in the exchange...
Gains in primary aluminium future prices reduce buying enthusiasm of downstream consumers: SMM
Shanghai Metals Market found downstream consumers across spot aluminium markets in east and south China held back from purchasing in morning on Monday, January 7, amidst growing futures prices. Spot discounts in Shanghai remained unchanged from Friday morning and thus, were heard at RMB 20 per...
LME aluminium recovered slightly overnight after closing weak on January 3; weak fundamentals to limit momentum in LME & SHFE
The US dollar weakened following the biggest slump in the manufacturing activity index by the Institute for Supply Management (ISM) since 2008. The US dollar index, which tracks the greenback against a basket of six global currencies, stood 0.5% lower at 96.32. Base metals grew for the most part as...
Large purchase triggers spot aluminium trades in east China: SMM
Shanghai Metals Market found that a purchase of more than 6,000 tonnes of spot cargoes in east China, at higher than expected prices, by an aluminium trader on Thursday, January 3, 2019, triggered the overall trades across eastern markets. The on-month aluminium contract on the Shanghai Futures...
Chinese aluminium spot sellers show reluctance to offload cargoes on futures price drop: SMM
According to Shanghai Metals Market, spot aluminium sellers in east China showed reluctance in offloading cargoes today, December 27, on the occasion of aluminium futures price drop. In this background, the SHFE January aluminium contract fell in morning trades. Spot discounts in Shanghai were...
China aluminium producers to cut another 800,000 tonnes of capacity: Source says
According to a report by Reuters, China’s aluminium producers are set to cut more than 800,000 tonnes per year of smelting capacity. The news came after analysts from Antaike attending a key smelter meeting in the southern region of Guangxi today said this. However, the analysts attending the...
China's top aluminum producers would gather in Nanning to discuss falling aluminium prices and slow demand
China’s aluminium producers will hold a meeting in Guangxi to discuss falling prices of aluminium and slow demand for the metal, a Reuter report says. China being the world’s largest aluminium producer and consumer is concerned over the fact that aluminium smelters are struggling to turn a profit,...
LME aluminium rebounded with dollar's fall; SHFE to test support at five-day moving average
The US dollar on Monday fell from an 18-month high, ahead of the Federal Reserve's policy meeting this week. LME base metals traded mixed on Monday and aluminium advanced close to 0.6%. SHFE base metals gained overnight with aluminium inching up some 0.1%. LME aluminium rebounded from a low of...
Third consecutive drop in aluminium futures prices sidelines spot buyers in east China: SMM
Shanghai Metals Market research found that further decline in aluminium futures prices today, on November 28, for the third day this week led to a wait-and-watch stance among downstream consumers in the east-China spot aluminium market. The SHFE 1812 contract dipped in morning trade while spot...
