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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SMM Morning Review: SHFE 1308 aluminum contract should move within a RMB 14,650-14,750/mt range
It was announced last Friday that the US April non-farm employment increased more than expected by 165,000 and unemployment rate fell to the lowest in four years at 7.5%. These positive data offset the decline in March factory orders and worse-than-expected April ISM non-manufacturing index in the...
Aluminium futures up on firm global cues
Supported by a firming trend overseas and domestic demand, aluminium futures prices on Friday recovered by 1.37 per cent to INR 99.70 per kg as speculators created positions. At the Multi Commodity Exchange, aluminium for delivery in June edged higher by INR 1.35, or 1.37 per cent, to INR 99.70 per...
Aluminium weakens 0.2% on global cues
Aluminium futures for April eased by INR 0.15, or 0.15%, to INR 100.55 per kg in 122 lots. At the Multi Commodity Exchange, the May contract fell by a similar margin to trade at INR 102.30 per kg in 71 lots. Subdued demand in the domestic spot markets also weighed on the metal prices. Market...
Aluminium weakens 0.4% on global cues
Aluminium futures for May eased by INR 0.40, or 0.39%, to INR 101.90 per kg in 150 lots. At the Multi Commodity Exchange, the April contract traded lower by INR 0.35, or 0.35%, to INR 100.05 per kg in 415 lots. Prices fell as speculators reduced their positions amod subdued domestic spot markets...
Aluminium futures weaken on global cues
Aluminium prices fell by 0.15 per cent to INR 100.55 per kg in futures trading on Tuesday, largely in tune with a weakening trend in the global markets on demand concern. Further, subdued demand in the domestic spot markets also weighed on the metal prices. At the Multi Commodity Exchange,...
Aluminium futures weaken on global cues
Aluminium prices fell by 0.39 per cent to INR101.90 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...
Aluminum’s gain halted at about $2,000
Aluminum may rise for a third week next week in London, though gains are likely to be capped at about $2,000 a metric ton, according to technical analysis by Barclays Plc. The chart shows prices yesterday climbed above $1,928 a ton, the top of the range that starts with the April 16 session. The 50...
Aluminium weakens 0.4% on global cues
Aluminium futures for April eased by INR 0.45, or 0.39%, to INR 102.40 per kg in 866 lots. At the Multi Commodity Exchange, the May contract traded lower by INR 0.40, or 0.38%, to INR 103.90 per kg in 74 lots. Prices fell as speculators reduced their positions. Further, subdued domestic spot...
Aluminium futures weaken on global cues
Aluminium prices fell by 0.39 per cent to INR 102.40 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 April...
Aluminium futures marginally up on global trends
Aluminium prices today rose marginally by 0.24 per cent in futures trade mostly 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 April rose by 25 paise, or 0.24...
Aluminium futures down on weak global cues
Taking weak cues from global markets, aluminium prices fell by 0.24 per cent, to INR103.60 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 futures fall by 0.38 percent on global cues
Aluminium prices fell by 0.38 per cent to INR104.60 per kg in futures trading today as speculators offloaded their positions, tracking a weak trend in the Asian region amid subdued demand. At the Multi Commodity Exchange, aluminium for delivery in May declined by INR 0.40, or 0.38 per cent to INR...
SMM Morning Review: SHFE 1306 aluminum contract has a low opening at RMB 14,600/mt on 29 March
The United States Labor Department announced overnight that initial jobless claims in the week ending March 23 rose to 357,000, falling short of market expectations. The Chicago PMI index was 52.4 in March, down 4.4 points from February. Coupled with worries over the European debt crisis, all base...
Aluminium futures down on global cues
Taking weak cues from global markets, aluminium prices fell marginally to INR 103.30 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...
Aluminium futures rise on spot demand, overseas cues
Aluminium prices edged up by 0.53 per cent to INR 104.60 per kg in futures trade today as participants enlarged their positions, supported by a firming trend overseas. Strong demand in the spot markets also influenced metal prices. At the Multi Commodity Exchange, aluminium for delivery in March...
Aluminium futures down 0.19 pc on global cues
Taking weak cues from global markets, aluminium prices fell marginally to Rs 105.65 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...
Aluminium futures rise on spot demand, global cues
Aluminium prices edged up by 0.33 per cent to Rs 106.45 per kg in futures trade on Wednesday as participants enlarged their positions, supported by a firming trend overseas. Further, strong demand in the spot markets also influenced metal prices. At the Multi Commodity Exchange, aluminium for...
LME aluminum should fluctuate between USD 1,950-1,990/mt on Wednesday: SMM Morning Review
Markets are cautious ahead of the release of US February economic indicators due later this week. Shorts liquidated positions to avoid risks after the US dollar index plunged overnight, helping LME aluminum regain support at near the 10-day moving average and hit a high of USD 1,986.8/mt. LME...
