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 aluminium plunged again on rising greenback; SHFE continues to trade weak on sluggish demand
The US dollar index increased on hopes the US and China might renegotiate a trade deal at the G-20 summit in Buenos Aires, and this grew safe-haven gains for the greenback. Base metals, expect for SHFE nickel fell across the board. LME aluminium recovered some losses last week, but plunged heavily...
China’s eastern spot aluminium markets waned as future prices drop; ingot price extends plunge
Shanghai Metals Market research found purchasing enthusiasm among downstream consumers of spot aluminium across east China waned as prices of futures declined in late morning trading. The SHFE 1812 contract declined in late morning trade after it moved in a tight range in earlier trading hours....
Decline in Chinese aluminium future prices results in firmed offers from sellers and expanded spot discounts
According to the data shared by Shanghai Metals Market on Friday, November 2, spot aluminium discounts across eastern markets expanded while sellers held offers firm after prices of futures came off from earlier highs. The SHFE aluminium contract for November delivery fell below RMB 13,480 per...
Surging US dollar pulled LME aluminium down by 2.2%; SHFE 1810 fell overnight after breaking rangebound trend
The dollar index jumped 0.54% to 95.61 overnight as investors bet global trade tensions and a robust US economy would support the currency. LME base metals closed mixed on Thursday. The day’s trading for aluminium closed at US$ 2118 per tonne yesterday. Aluminium slumped 2.2%. LME aluminium plunged...
LME aluminium inched up and likely to trade in a wide range; SHFE expected to hover above RMB 14,500/t level
The US dollar index inched up 0.17% overnight and stood at 94.5. LME closed the day’s trading at US$ 2061 per tonne, higher than the previous closing. The contract traded rangebound within a wide range on Tuesday night with a high of US$2,094 per tonne and a low of US$2,068 per tonne. While the...
MCX aluminium up on rising demand
Aluminium prices advanced by 0.19 per cent to INR 154.30 per kg in futures trading today as speculators engaged in building up positions, tracking a firm trend at spot market on soaring demand. At the Multi Commodity Exchange, aluminium for delivery in June edged up by 30 paise, or 0.19 per cent to...
LME aluminium closes lower on rising of US dollar; SHFE expected to dip further
Base metals fell across the board overnight with the rising of US dollar and LME aluminium closed lower at US$ 2278 per tonne from US$ 2309 per tonne. Shanghai Metals Market expects LME aluminium to edge up with a trading range at US$2,270-2,290 per tonne. As on June 13, LME aluminium cash (bid)...
LME aluminium back to 40 days moving averages; 1808 became the most traded contract in SHFE
LME aluminium had been on a higher range last week with the consolidation of the US dollar. The aluminium contract closed the week lower at US$ 2287.50 per tonne on June 8 from US$ 2331 per tonne on June 7. The contract returned to the five and 40 days moving averages and Shanghai Metals Market...
LME aluminium to trade rangebound on strong greenback; SHFE stays low on recommissioning of capacity
The US dollar index touched a five-month high last night at nearly 94.5 before it closed 0.18% higher at 94.41, on US-North Korea discussions and a weakening euro. Trading was off in LME on May 28 on the occasion of Late May Bank Holiday. LME aluminium was depressed by a rising US dollar index on...
Both LME and SHFE aluminium to trade rangebound with downward room on stronger US dollar
LME aluminium received support and rebounded to close at US$ 2313 per tonne on May 15 from US$ 2285.5 per tonne on previous closing. After that it fell to a low of $2,274 per tonne last night. The contract is expected to trade range bound with downward room today as the US dollar strengthened and...
LME remains closed on May 7; SHFE 1807 climbed to a high of RMB 14,755 per tonne overnight
London Metal Exchange was closed on Monday May 7 due to Early May Bank Holiday. Shanghai Metals Market expects LME aluminium to expand upwards along the 20-day moving average today with a trading range of US$2,320-2,370 per tonne. The benchmark aluminium price on Shanghai Metal Exchange increased...
East China spot aluminium market witnessed cargoes transactions for May invoices
According to Shanghai Metal Market, cargoes transactions with invoices for May dominated the spot aluminium market in East China on April 27, 2018. This was primarily because market participants rushed to take advantage of the last trading day before that value-added tax (VAT) came into effect. The...
China’s aluminium inventory dips further on shrinking future price
After a decline of aluminium inventory on 23 rd of April 2018, from 2.248 million tonnes to 2.231 million tonnes, it witnessed a further plunge to 2.21 million tonnes on Thursday April 26, 2018, down 21,000 tonnes from 2.231 million tonnes on April 23 and RMB 38,000 tonnes from 2.248 million tonnes...
Strong future prices of aluminium give rise to trading in China’s spot market
With an incessant rise in aluminium future price in China as a consequence of US sanctions against Rusal, a large number of brokers and downstream consumers are becoming keen to purchase and stock aluminium for their future use, thereby, contributing to an enthusiastic trading activity in China’s...
MCX aluminium futures slide 0.53% on muted demand, global cues
Aluminium prices moved down by 0.53 per cent to INR 140.80 per kg in futures trade today as speculators reduced exposure amid easing demand in the spot market. Besides, a weak trend overseas weighed on prices. At the Multi Commodity Exchange, aluminium for delivery in January edged down by 75...
MCX aluminium gains 1.34% driven by spot market demand spike
Aluminium traded at India’s Multi Commodity Exchange gained by 1.34 per cent on Monday, January 29, as demand picked up in the spot market and speculators built up fresh positions amid positive cues in the international market. MCX aluminium reached INR 143.50 per kg in futures. Price of aluminium...
MCX aluminium down on tepid demand, although Indian market closed higher on Dec 26
Indian market put up a good show during end-of-the-day trading hours on Tuesday, December 26, after a lacklustre performance throughout the day. Despite the uptrend in the market, aluminium prices on Multi Commodity Exchange fell by 0.5 per cent to INR 138.90 per kg. Speculators were seen limiting...
India aluminium futures soften 0.69% on low demand
Aluminium prices eased by 0.69 per cent to INR 135.90 per kg in futures market today as speculators trimmed positions, taking negative cues from the spot market on muted demand from consuming industries. At the Multi Commodity Exchange, aluminium for delivery in November fell by 95 paise, or 0.69...
