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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The tight supply pushes aluminium towards 18-month high
According to Reuters reports, the aluminium prices have once again reached close to the 18-month high on Tuesday, which has pushed up the Shanghai futures by more than 2%. The aluminium rate has edged quite close to the peak it had reached the previous week, the highest it had been since February...
Aluminium futures gain 1.19% on overseas cues
Aluminium prices rose 1.19 per cent to INR 127.70 per kg in the evening session of futures trade today as speculators enlarged positions amid positive cues from overseas markets. Besides, increased demand from consuming industries in the spot market supported the uptrend. There was no trading in...
Global cues push aluminium down by 0.32%
The futures for aluminium dropped to INR 125.35 per kg on Wednesday as the speculators reduced their expectations taking a cue from the global markets. The domestic spot markets too have seen a dip in demand which in turn have affected the metal prices. In a business turnover of 1,392, the...
Aluminium up 0.28% up on firm global trends
Aluminium prices rose marginally by 0.28 per cent in futures trade today in line with a firming trend in the global markets. Besides, increased demand at domestic spot markets also influenced prices. At the Multi Commodity Exchange, aluminium for delivery in current month rose by 35 paise, or 0.28...
The slow Chinese economy triggers a fall in aluminium contract
According to a Bloomberg report, China, the biggest consumer of aluminium, revealed a dismal manufacturing data causing decline in industrial metals after an 18-month high. There was a drop of 6% in the contract due for delivery in three months on the London Metal Exchange to $2,069 per metric ton...
Aluminium falls by 0.1% on global cues
Aluminium slipped to INR 122 per kg in futures trade today as participants reduced their exposures amidst weak global cues. Besides, sluggish demand in the domestic spot markets also weighed on the metal's price. At the Multi Commodity Exchange, aluminium for delivery in August eased by 10 paise,...
Aluminium down 0.4% on global cues
Aluminium prices fell by 0.36% to INR 124.50 per kg in futures trading today as speculators reduced their positions amid weak global cues. Further, subdued demand in the domestic spot markets also weighed on the metal prices. At the Multi Commodity Exchange, aluminium for delivery in August shed 45...
Aluminium futures gain 0.24% on pick-up in demand
Aluminium prices edged up by 0.24% to INR 123.15 per kg in futures trade today as speculators enlarged positions due to pick-up in demand at the spot market. At the Multi Commodity Exchange, aluminium for delivery in August moved up marginally by 25 paise, or 0.24%, to INR 123.15 per kg in a...
Indian Aluminium futures weaken on global cues
Aluminium prices fell 0.69 per cent to INR 123 per kg in futures trade today as participants reduced their exposures amidst weak global cues. Besides, sluggish demand in the domestic spot markets also weighed on the metal's price. At the Multi Commodity Exchange, aluminium for delivery in August...
Aluminium futures rise on global cues, spot demand
Aluminium prices edged up by 0.21 per cent to INR 121.70 per kg in futures trade today as participants enlarged positions amid a firming overseas trend. Further, strong demand in the spot markets also influenced metal prices. At the Multi Commodity Exchange, aluminium for delivery in August inched...
LME aluminium to range from $1,989 to $2,043
LME aluminium is expected to consolidate in the range of $1,989-$2,043 for a few trading sessions before either resuming or reversing its uptrend. The range has been formed by the 100 percent and the 123.6 percent Fibonacci projection levels of an upward wave C that developed from the June 12 low...
Aluminium up 0.25% on firm overseas trend
Taking positive cues from overseas markets, aluminium futures prices rose 0.25 per cent to INR 119.65 per kg today as speculators enlarged positions. At the Multi Commodity Exchange, aluminium for delivery in August gained 30 paise, or 0.25 per cent, to INR 119.65 per kg, with a business turnover...
Aluminium down 0.29% on global cues
Aluminium prices fell by 0.29% to INR 121.95 per kg in futures trade today as speculators trimmed positions amid a weak global trend. At the Multi Commodity Exchange, aluminium for delivery in July shed 35 paise, or 0.29%, to INR 121.95 per kg in a business turnover of 258 lots. Likewise, the metal...
Aluminium futures up 0.30% on pick-up in demand
Aluminium futures edged higher by 0.30 per cent to INR 115.25 per kg today as speculators enlarged positions amid pick-up in demand at spot markets. At the Multi Commodity Exchange, aluminium for delivery in July rose 35 paise, or 0.30 per cent, to INR 115.25 per kg, with a business turnover of 259...
Aluminium futures may trade down on -0.22%, trading range is 113.7-115.1
Aluminium settled down -0.22% at 114.15 slipped on Friday but still posted their biggest weekly rise in more than nine months, having earlier hit a four-month peak as U.S. jobs data boosted the demand outlook for industrial metals. Earlier this week prices gained as global aluminium producers have...
Aluminium futures down on overseas trend
Aluminium futures prices fell 0.26 per cent to INR 115.35 per kg today as speculators reduced positions amid a weak trend in base metals at the London Metal Exchange. At the Multi Commodity Exchange, aluminium for delivery in August lost 30 paise, or 0.26 per cent, to INR 115.35 per kg, with a...
Rusal’s action a vote of confidence for CME aluminum futures contract
Last week, the world’s largest producer of aluminum, UC Rusal, began giving its customers the option of using the CME Group ‘s Chicago-based aluminum futures contract to set prices for its products. CME began offering the contract in May, after widespread dissatisfaction with the warehouse...
Rusal to offer CME-based aluminum pricing by July
United Company Rusal PLC, the world's biggest aluminum producer, plans by next month to begin offering customers the option of using CME Group Inc.'s new aluminum futures contract to set prices, a company executive said in an interview. Rusal's use of CME futures would give a boost to the fledgling...
