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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SHFE 1610 aluminium rebounds slightly on short covering
<p>On Wednesday’s night trading, SHFE 1610 aluminium fell to RMB 12,280/mt after opening at RMB 12,440/mt, and ended at RMB 12,320/mt. <br /><br />On Thursday, SHFE 1610 aluminium opened at RMB 12,320/mt, and fell to RMB 12,290/mt on short selling. The most active contract then rallied due to...
CME Group to launch two alumina futures contracts next month
<p>In a move to boost its rivalry in base metals trading against the London Metal ‎Exchange (LME), the oldest and largest market for industrial metals, Chicago-‎based CME Group, one of the world’s paramount exchange ‎operators, today said it will launch two aluminium futures...
India Aluminium Scrap prices remain stable; Aluminium Futures down
<p>India major aluminium scrap commodities prices remained stable on Thursday, while aluminium futures prices at Multi Commodity Exchange settled down on profit booking after prices rallied to test 113.70 mark tracking gain's from LME aluminium which held near their strongest level in 13 months on...
Aluminium futures down 0.6% on dollar's strength
<p>Aluminium futures inched 0.6 per cent downward to close a bit lower this week. The strengthening of the U.S. dollar weighed heavy on the white metal traded on London Metal Exchange. <br /><br />According to the latest Economic Calender report, the U.S. dollar edged higher vis-a-vis rival...
India major aluminium scrap prices remain flat; aluminium futures up
<p>India major aluminium scrap commodities prices remained flat on Wednesday; while aluminium futures prices at Multi Commodity Exchange ended up as support seen after Norsk Hydro raise its estimate of growth in global aluminium demand to between 4 per cent and 5 per centfrom 3-4 per cent. <br...
India major aluminium scrap prices down in line with aluminium futures
<p>India major aluminium scrap commodities prices declined on Tuesday in line with aluminium futures prices at Multi Commodity Exchange tracking LME Three-month aluminium which closed down 0.6 percent at $1,625 as recent US data suggests tepid economic growth, slowing manufacturing activity and...
SHFE 1610 aluminium inches up, 56% Chinese smelters see prices stabilizing this week
<p>SHFE 1609 aluminium, after opening at RMB 12,290/mt, fell to RMB 12,240/mt on Friday’s night trading. Prices of the white metal then rallied to RMB 12,355/mt on short covering, ending at RMB 12,340/mt.<br /><br />On Monday, short selling sent SHFE 1610 aluminium down to RMB 12,195/mt after...
India major aluminium scrap prices show flat trend; aluminium futures down
<p>India major aluminium scrap commodities prices showed a flat trend on Wednesday, while aluminium futures prices at Multi Commodity Exchange ended down in the line of expectation tracking weakness from LME Aluminium which sank to its lowest in six weeks in yesterday's...
MCX aluminium reverses from a key hurdle
<p>The aluminium futures contract traded on the Multi Commodity Exchange (MCX) plunged 3.6 per cent to close at INR 107.4 a kg last week.<br /><br />Significant resistance at around INR 111 which is also 50 per cent Fibonacci retracement level of the prior downtrend has been limiting the...
SHFE 1609 aluminium falls on short selling
<p>On Monday’s night trading, SHFE 1609 aluminium fell to RMB 12,140/mt after opening at RMB 12,175/mt. Prices then rallied to RMB 12,205/mt, closing at RMB 12,200/mt. <br /><br />On Tuesday, short selling sent the most active contract down to RMB 12,115/mt after starting at RMB 12,195/mt....
India major aluminium scrap prices remain stable; MCX aluminium slightly up
<p>India major aluminium scrap commodities prices remained stable on Friday, while aluminium futures prices at Multi Commodity Exchange settled up as industrial consumers took advantage of recent declines to make purchases.<br /><br />The major aluminium scrap commodities showed a flat trend during...
CME Group announces first trades of new Aluminum A380 Alloy (S&P Global Platts) futures
<p>CME Group, the world's leading and most diverse derivatives marketplace, today announced that the first Aluminium A380 Alloy (S&P Global Platts) futures contracts were traded on Tuesday, July 19, 2016. A total of 50 futures contracts were traded across the August through December 2016...
India aluminium scrap prices remain flat; aluminium futures down
<p>India major aluminium scrap commodities prices remained stable on Tuesday, while aluminium futures prices at Multi Commodity Exchange settled down tracking weakness from LME Aluminium ended down 0.8 percent at $1,647 as the dollar held steady and markets awaited fresh signals for direction.<br...
India aluminium scrap prices show almost flat; MCX aluminium inches down
India major aluminium scrap commodities prices showed almost a flat trend on Friday, while aluminium futures prices at Multi Commodity Exchange settled lower tracking after stronger than expected U.S. economic data after LME closed down 1.4 percent at $1,659 after hitting $1,703, the strongest...
SHFE aluminium to hover at highs
Falling aluminium stocks in China will allow SHFE 1609 aluminium to stay at highs of RMB 12,500-12,700/mt today. LME aluminium will move at USD 1,645-1,670/mt, with support at the 5-day and 10-day moving averages. In China’s spot aluminium market, spot premiums of RMB 30-70/mt are expected over...
SHFE aluminium to gather rising strength
Big possibility of short squeeze will push SHFE 1609 aluminium up to RMB 16,520-16,700/mt on Monday, June 11. The US dollar gained favor as US non-farm payrolls hit 8-month high in June. But strong dollar will have little impact on LME aluminium. LME aluminium will move at USD 1,650-1,675/mt. In...
SHFE aluminium to move higher
SHFE 1609 aluminium should grow to RMB 12,500-12,700/mt today with positive technical indicators. Eyes will be on US June ADP employment data due for release tonight. LME aluminium will move at USD 1,640-1,660/mt. In China’s spot aluminium market, spot premiums of RMB 40-80/mt are expected over...
SHFE aluminium to move around moving averages
SHFE 1609 aluminium almost lost support at the 5-day moving average as shorts took the upper hand. The contract should move at RMB 12,300-12,500/mt today, hovering around the 5-day and 10-day moving averages. LME aluminium has found strong support and will move at USD 1,640-1,660/mt. In China’s...
