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 inches higher, but will the bearish uptrend sustain?
LME aluminium has edged higher above the US$2,100 per tonne mark. The light metal contract which has been struggling around US$2,080 per tonne level over the last five days rose 1.25 per cent to close at US$2,106 per tonne on Thursday, November 16. However, the bearish trend in global non-ferrous...
Aluminium futures tad higher by 0.18% on spot demand
Aluminium prices were marginally higher by 0.18 per cent to INR 139.90 per kg in futures trade today as speculators created fresh positions amid improved demand in the spot market. At the Multi Commodity Exchange, aluminium for delivery in November inched up by 25 paise, or 0.18 per cent to INR...
LME aluminium prices strengthen on declining inventories
LME aluminium prices are holding at highs. With the inventories falling by 10,800 tonnes to 1,218,950 tonnes, the light metal contract edged further up to close at US$2,144 per tonne on Monday, October 16 from US$2,140 per tonne last Friday, October 13. Technical analysis and recent price movements...
LME aluminium inches lower as US dollar holds gain
LME aluminium has dropped slightly. With the US dollar index moving higher after strong US data, the light metal contract slipped to US$2,124 per tonne on Thursday, October 5, from the earlier close of US$2,139 per tonne. Reuters’ technical analysis suggests that LME aluminium may break a...
LME aluminium jumps to US$2,139.5/t; further rise is likely
LME aluminium has gained further. The light metal contract which closed at US$2,114 per tonne on Tuesday, October 3, reversing its current downtrend toward US$2,066 per tonne, has jumped to US$2,139.50 per tonne on Wednesday, October 4. Reuters’ technical analysis suggests that LME aluminium may...
LME aluminium headed for a near-term downtrend; revisits Aug 30 low of US$2,066t
LME aluminium has come under pressure. With the US Dollar index trading higher by 0.5 per cent on the day (October 3), the light metal contract crossed the US$2,000 per tonne mark and fell into the US$2,065-US$2,085 range. After night trading on October 2, Monday, LME aluminium closed at US$2,067...
LME aluminium revisits US$2,100/t; may rise further
Seeking support from the rising aluminium contracts traded at Shanghai Futures Exchange (SHFE), aluminium prices at London Metal Exchange rose from its current lows of US$2,072 per tonne to US$2,100.50 per tonne on Monday, September 11. Reuters’ technical analysis suggests that LME aluminium will...
LME aluminium slips on strong bearishness; may fall further
In a sign of the prevailing bearishness, LME aluminium dropped marginally from its earlier close of US$2,075 per tonne on Thursday, September 7, to US$2072 per tonne on Friday, September 8. According to the Shanghai Metals Market forecast, the light metal contract will drop further into the range...
LME aluminium down by 0.64%; may break support at US$2,089/t
LME aluminium seems to have temporarily reversed its uptrend though it is too early to predict a direction. The light metal contract dropped to US$2,082 per tonne after night trading on Tuesday, September 5, down 0.64 per cent from its earlier close of US$2,095.5 per tonne on September 4. Reuters’...
LME aluminium unchanged, but to continue uptrend on China capacity cuts
LME aluminium remained buoyed up, unchanged for two consecutive days ahead of the weekend. The light metal contract closed at US$2,113.50 per tonne on Friday, September 1, showing a clear uptrend through its day’s performance. Shanghai Metals Market (SMM) suggests that LME aluminium will continue...
LME aluminium may fall after meeting resistance at moving averages
LME aluminium remained unchanged at US$2,096.50 per tonne till yesterday, August 28, as London Stock Exchange was closed due to summer bank holiday. On resuming trading today, the light metal contract is expected to fall in the range of US$2,060-2,085 per tonne. As per Shanghai Metals Market...
India aluminium prices up by 1.33% on higher spot demand
<p>Building up of fresh positions amid improved demand scenario in the spot market led aluminium prices in India drive up by 1.33 per cent to INR 133.45 per kg in futures trade today, August 21.</p> <p style="text-align: center;"><img style="vertical-align: middle;"...
India aluminium scrap prices increase in line with aluminium futures
<p>India major aluminium scrap commodities prices increased on the Scrap Register Price Index as on Friday in line with aluminium futures prices at India's Multi Commodity Exchange amid worries about supplies from China have been reinforced by Shandong province, which ordered the closure of 3.21...
India’s MCX aluminium drops 0.08% amid sluggish spot market demand
<p>Aluminium futures traded on India’s Multi Commodity Exchange eased by 0.08 per cent to INR 122.20 per kilogram on Friday, August 4. Market participants cut down their bets based on speculations amid weak demand in the spot market</p> <p style="text-align: center;"><img...
India aluminium scrap prices drop; Aluminium futures up on China environmental crackdown worries
<p>India major aluminium scrap commodities prices dropped on the Scrap Register Price Index as on Tuesday, while aluminium futures prices at India's Multi Commodity Exchange settled higher as investors worried about an environmental crackdown in China to close polluting smelters.</p> <p><img...
Indian aluminium futures gain on rising demand
<p>The prices of aluminium futures in Indian market rose 0.62 per cent today, further up from yesterday’s 0.29 per cent rise, to stand at INR 121.95 per Kg. Speculators were found engaging themselves in enlarging positions and taking positive cues from the aluminium spot market as demand...
MCX-Aluminium stuck within a narrow range
<p>The Aluminium futures contract on the Multi Commodity Exchange fell below a key support level of INR 121.5 a kg in the past week.</p> <p>However, the contract has not witnessed any strong follow-through selling after this break and has been stuck in a narrow range between INR 120 and INR 121...
MCX aluminium futures extend gain, up 0.29% on spot market cues
<p>Rising for the third straight day, aluminium prices rose by another 0.29 per cent to INR 120.50 per kg in futures trading on June 15, as speculators engaged in enlarging positions, taking positive cues from spot market on rising demand.</p> <p style="text-align: center;"><img...
