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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Indian Aluminium weakens on global cues
Aluminium prices fell by 0.23 per cent to INR 109.55 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 May...
Despite UC Rusal’s fight with LME, aluminum price index holds steady
The month of March saw a decision in the closely-followed lawsuit filed by the world’s largest aluminum manufacturer, UC Rusal, against the London Metal Exchange over long queues to remove product from LME warehouses. It was also the month that CME Group, owner of the Chicago Mercantile Exchange,...
Aluminium may witness down and short covering
Aluminum edged down after the initial consolidation in the month of March on back of worries about spreading bank-ruptcies in China, after a solar panel-maker defaulted on a bond payment, sending prices to 9 months low. The looming bankruptcy of a Chinese devel-oper owing billions of yuan to...
Aluminium futures weaken on global cues
Aluminium prices fell 0.56 per cent to INR 105.65 per kg in futures trading today as speculators reduced their positions amid weak global cues. Besides, subdued demand in the domestic spot markets also weighed on the metal prices. At the Multi Commodity Exchange, aluminium for delivery in April...
Indian Aluminium trades at lower level on global cues
Aluminium prices fell 0.19 per cent to INR 103 per kg in futures trading today as speculators reduced exposure amid weak global trend. At the Multi Commodity Exchange, aluminium for delivery in March declined by 20 paise, or 0.19 per cent, to INR 103 per kg in business turnover of 17 lots....
LME Aluminum is seen trading at $1755
Aluminum: Monday’s review report is an excerpt from our weekly metals report. As of Friday close aluminum’s 3 month rolling forward contract ended the week at $1758, up by more than $20+ from its previous week’s close. At the MCX platform, the April futures contract ended the week at 104 from its...
Aluminium futures up 0.20 per cent on firming overseas trend
Aluminium prices edged higher by 0.20 per cent to INR 102.10 per kg in futures trade today as speculators enlarged positions amid a firming trend overseas. Besides, increased demand at domestic spot markets also influenced the prices. At the Multi Commodity Exchange, aluminium for delivery in March...
LME aluminum prices are seen trading at $1748, selling recommended
On Tuesday, aluminum’s 3 month forward prices ended the day on a positive note, higher by 1.24% at $1752 while March futures prices at the MCX settled at Rs 103.35, up by mere Rs 0.40 due to the rupee’s appreciation. We could see the metal advancing higher supported by lower inventory numbers...
CME finds perfect setting in CRU to launch its North American aluminium contract
CME has found the perfect setting in CRU aluminium conference to launch its North American aluminium contract which intends to solve the hedging issues created by rising physical aluminium premiums. It was the main focus of discussion in the CRU conference. According to Barclays, who attended the...
Aluminum gains on LME as CME sheds light on upcoming futures contract
The Chicago Mercantile Exchange’s new aluminum futures contract, which will begin trading May 5th, will be available for trading on the floor and electronically via CME Globex, as well as submission for clearing through CME ClearPort, and will be listed by and subject to the rules of COMEX. CME...
Aluminium futures down on weak global cues
Taking weak cues from global markets, aluminium eased by 0.24 per cent, to INR 104.30 per kg in futures trading today as speculators offloaded their positions. Besides, subdued demand in the domestic spot markets also weighed on the metal prices. At the Multi Commodity Exchange, aluminium for...
Aluminium down 0.6% on global cues
Taking weak cues from global markets, aluminium prices fell 0.61% to INR 106.05 per kg in futures trading today as speculators offloaded their positions. Further, sluggish demand in the domestic spot markets also weighed on the metal prices. At the Multi Commodity Exchange, aluminium for delivery...
For Alcoa and others, new CME aluminum contract must reflect accurate pricing
The London Metal Exchange has faced more than a year of criticism for its aluminum contract. Blamed for everything that’s wrong with the aluminum market, the LME finally got a competitor who will also try to win the hearts and minds of metal buyers in the CME Group, which announced yesterday that...
Aluminium down 0.3% on global cues
Aluminium prices fell by 0.33% to INR 105.45 per kg in futures trading today as speculators offloaded their positions on weak cues from global markets. At the Multi Commodity Exchange, aluminium for delivery in April declined by 35 paise, or 0.33%, to INR 105.45 per kg in business turnover of 180...
CME Group to launch aluminium futures contract in May to compete with LME
CME Group Inc will launch in May a physically deliverable aluminium futures contract in North America to compete with LME’s $54 billion market. The group came up with the plan after LME implemented the sweeping reforms to its metals warehousing system after a years-long crisis that has undermined...
Aluminium up 0.2% on global trends
Aluminium prices today rose marginally by 0.24% in futures trade mostly in line with a firming trend in the global markets. Further, increased demand at domestic spot markets also influenced prices. At the Multi Commodity Exchange, aluminium for delivery in March rose by 25 paise, or 0.24%, to INR...
Price of aluminum fell to 0.37% on weak global trend
Following the weak signals from global markets, the price of aluminum came down 0.37% to a trading rate of INR 107 per kg today as the speculators unloaded their positions. Further, slow demand of aluminum in the domestic spot markets also resulted in the fall of metal prices. At the Multi...
Aluminium down 0.3% on global cues
Taking weak cues from global markets, aluminium prices fell marginally to INR 108.25 per kg in futures trading today as speculators offloaded their positions. Further, sluggish demand in the domestic spot markets also weighed on the metal's prices. At the Multi Commodity Exchange, aluminium for...
