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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Buoyant seasonal demand driving China aluminium prices up
China’s aluminium futures rose to their highest level in half a year on Monday, March 28, thanks to an increase in seasonal demand, and lowered domestic output due to capacity cuts made late last year. Stocks of aluminium ingots at major warehouses across China dropped from 937,000 metric tons last...
SHFE Aluminium to resist declines
SHFE 1605 aluminium proved resistant to declines and is expected to move at RMB 11,700-11,800/mt on Thursday. LME aluminium will range USD 1,488-1,510/mt, with support at the 5-day moving average. In China’s spot aluminium market, spot discounts of RMB 0-40/mt are expected over SHFE 1604 aluminium...
CME Group announces first trades of new Aluminium European premium duty-paid futures
CME Group, the world's leading and most diverse derivatives marketplace, today announced that the first Aluminium European Premium Duty-Paid (Metal Bulletin) futures contracts were traded on Thursday, March 24, 2016. A total of 96 futures contracts were traded, equalling 2,400 metric tons. "We are...
MCX Aluminium up by 0.4% on global trend
Aluminium futures traded 0.41 per cent higher at INR 99.15 per kg, largely in tandem with a firming trend in base metals at the London Metal Exchange (LME). Besides, increased demand at domestic spot markets influenced prices. At Multi Commodity Exchange, aluminium for delivery in current month...
MCX Aluminium up by 0.1% on rising demand
Aluminium prices were up by 0.10 per cent to INR 98.85 per kg in futures trade as traders enlarged positions, driven by pick up in demand at the spot market amid firm Asian cues. At the Multi Commodity Exchange, aluminium for delivery in March moved up by 10 paise, or 0.10 per cent, to INR 98.85...
India Aluminium futures weaken on global cues
Aluminium prices were down 0.10 per cent to INR 101.95 per kg in futures trade as investors reduced exposure amid weak global cues. Besides, sluggish demand in the domestic spot markets weighed on the metal's prices. At the Multi Commodity Exchange, aluminium for delivery in April eased 0.10 per...
Aluminium futures firm up on global trend
Aluminium futures traded higher at INR100.20 per kg, largely in tandem with a firming trend in base metals at the London Metal Exchange (LME). Besides, increased demand at domestic spot markets also influenced prices. At the Multi Commodity Exchange, aluminium for delivery this month rose 15 paise...
Spot demand, global cues lift aluminium futures by 0.59%
Aluminium prices edged up 0.59 per cent to INR 101.90 per kg in futures trade today as participants enlarged positions, supported by strong demand in the spot markets amidst a positive trend in the base metals pack at the London Metal Exchange (LME). Aluminium for delivery in current month edged...
LME Aluminium to underperform SHFE Aluminium this week
SHFE aluminium will gather more steam on positive market fundamentals in China, while LME aluminium will face short selling pressure, SMM expects. Capacity restarts and new capacity release are still limited in domestic aluminium market. Consumption is still in recovery. As such, aluminium stocks...
Boguchansk smelter news from Rusal lifts Indian aluminium scrap, MCX aluminium
India major aluminium scrap commodities prices advanced on Wednesday in line with aluminium futures prices at Multi Commodity Exchange as the world's biggest aluminium producer Rusal said on Wednesday it planned to start its Boguchansk smelter in the first half of the year, but also said output...
MCX aluminium outlook: Aluminium futures contract rises to INR 111.3 in Feb
Aluminium price has recovered strongly from its six-year low. The aluminium spot price on the London Metal Exchange (LME) fell to a six-year low of $1,423 per tonne in November 2015. The metal price has surged about 13 per cent from this low to the current levels of $1,604 per tonne. The strong...
India aluminium scrap prices remain stable; MCX aluminium inches up
India major aluminium scrap commodities prices remained flat on Monday, while aluminium futures prices at Multi Commodity Exchange settled slightly higher driven by expectations for demand recovery in Chinese aluminum market. The major aluminium scrap commodities dropped on Scrap Register Price...
Aluminium smelters to benefit from SHFE delivery warehouse capacity expansion
The Shanghai Futures Exchange (SHFE) recently approved 12 warehouses from eight companies for aluminium delivery. The latest move by the SHFE will help facilitate hedging business for local aluminium smelters and processors, as well as reduce aluminium delivery costs, SMM aluminium analyst Liu...
CME Group introduces Aluminium European Premium Duty-Paid futures
CME Group is expanding its base metals offering with the introduction of a new Aluminium European Premium Duty-Paid (Metal Bulletin) futures contract to begin trading on 21 March, 2016. Pending relevant regulatory review periods, the new contract will be available for trading on CME Globex, for...
SHFE approves ten warehouses for aluminium delivery
The Shanghai Futures Exchange (SHFE) announced March 1 that it has approved ten warehouses from eight companies for aluminium delivery. This move will expand capacity of SHFE aluminium delivery warehouses by 175,000 tonnes, according to the SHFE website. These newly approved delivery warehouses...
Indian aluminium scrap, MCX aluminium prices rise in line with LME aluminium
India major aluminium scrap commodities prices gained on Tuesday, 1st March, while aluminium futures prices at Multi Commodity Exchange settled higher as profit booking seen after prices of LME Aluminium hit a 4-1/2 month high on Monday after top metals consumer China cut its reserve ratio for...
Aluminium futures inches up 0.14% on spot demand, global cues
Aluminium prices edged up 0.14 per cent to INR 108.34 per kg in futures trade today as participants enlarged positions, supported by strong demand in the spot markets and a better trend in the base metals pack at the London Metal Exchange (LME). Aluminium for delivery in March inched up 15 paise,...
India aluminium scrap prices remain stable; Norsk Hydro forecasts weaken aluminium futures
India major aluminium scrap commodities prices remained stable on Tuesday, February 23, while aluminium futures prices at Multi Commodity Exchange weakened after Norsk Hydro cuts aluminium demand growth forecasts. The major aluminium scrap commodities stayed stable on Scrap Register Price Index as...
