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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LME aluminum should move between USD 1,875-1,910/mt on 30th Aug: SMM Morning Review
Markets are cautious about whether or not Federal Reserve Chairman Bernanke will signal QE3 in his speech on Friday. This is because final reading of the US 2Q GDP was upwardly revised overnight and July pending home sales index was far better than forecasts, adding hurdle to the introduction of...
CME considering aluminum contract to rival LME: sources
CME Group Inc has canvassed traders in recent weeks about the viability of an aluminum contract to rival that of the London Metal Exchange, which has dominated the $80 billion market for decades, industry sources said. The talks are at an early stage, according to two traders who said the CME had...
SHFE 1211 contract opened lower at RMB 15,385/mt on August 1
The most active SHFE 1211 contract opened lower at RMB 15,385/mt on August 1. The three-month contract failed to regain RMB 15,400/mt as contracted July China manufacturing PMI data triggered short selling. It finally closed at RMB 15,385/mt, down RMB 55/mt or 0.36%. Positions were up 1,022 lots to...
KediaCommodity offers Trading Tips for Aluminium
Aluminium yesterday traded with the positive node and settled 0.1% up at 103.55 as rebound in euro and the far-better-than-expected GDP in 2Q in the US supported the prices. It was reported euro zone countries and European central bank plan to intervene the financial market to help lower loan costs...
Front end spreads tightening for LME Aluminum: Barclays
Front-end aluminum spreads are continuing to tighten on the London Metal Exchange, which is bucking the trend seen in other base metals, according to Barclays Capital in a commodity research note. The most recent close for front-end aluminum spreads was a contango of just over $26 a metric ton,...
Bargain hunting helps Aluminium to buoy at MCX: Dani Commodities
Dani Commodities has come out with its report on MCX Aluminium, Gold, Silver, Copper, Lead, Zinc, Nickel, Crude Oil and Natural Gas. According to the research firm, Aluminium is likely to find support at Rs 104.1 per kg and Rs 103.6 per kg and resistance at Rs 105.2 per kg and Rs 105.5 per kg....
Aluminium settled at Rs 104.7 per kg on Wednesday, 18 July AT MCX
Aluminium buoyed by 0.5% or R 0. 5 at R 104.7 per kg on Wednesday, 18 July and tested an intraday high at R 105 per kg and low at R 104.1 per kg. Aluminium was in downtrend since June 2012 and ended tad higher on Wednesday bolstered by some bargain hunting with 12% dip in its open interest to 9809...
Aluminium prices fell by 0.43% to Rs 105.20 per kg
Aluminium prices fell by 0.43% to Rs 105.20 per kg in futures trade today as speculators offloaded their positions tracking a weak trend in overseas markets. At the Multi Commodity Exchange, aluminium for delivery in July declined by 45 paise, or 0.43%, to Rs 105.20 per kg, with a business turnover...
SHFE aluminum contract hit a high of RMB 15,790/mt: SMM Daily Review
The most active SHFE aluminum contract for October delivery started slightly higher at RMB 15,645/mt and hit a high of RMB 15,790/mt as shorts continued to take profits, strengthening even when other base metals weakened. Cautious longs and pressure at RMB 15,700/mt dragged the contract back to...
Good time to buy Aluminium: Destimoney Commodities
Kunal Shah of Nirmal Bang Commodities advises going long on MCX natural gas futures at Rs 161 per MMBTU with a stop loss to be placed below Rs 156 per MMBTU. He reckons that prices would move up and test levels of Rs 168 per MMBTU on MCX. Sumeet Bagadia of Destimoney Commodities feels that...
Aluminium rises marginally in futures market
Aluminium prices rose by 0.24 per cent to Rs 103.35 per kg in the futures market today in line with a firming trend in base metals at the London Metal Exchange and a pick-up in demand at the spot markets. At the Multi Commodity Exchange, aluminium for delivery in June rose by 25 paise, or 0.24 per...
LME explores aluminum expansion in North America
The London Metal Exchange is considering launching a North American aluminum contract, sources say, a measure that could expand the footprint of its most-active futures market. Discussions are still at an early stage, but the LME has begun to canvas physical traders and consumers about the...
MCX Aluminium settled at Rs 104.6 per kg on 27th June
MCX Aluminium recovered earlier losses and surged by 1.1% or Rs 1.15 at Rs 104.6 per kg on Wednesday, 27th June and tested an intraday high at Rs 104.85 per kg and low at Rs 102.7 per kg. Bargain hunting with 35% rise to 6117 lots favored the metal to end with huge single day gains but found to be...
SHFE aluminum contract settled up RMB 355/mt at RMB 15,360/mt: SMM Daily Review
The most active SHFE aluminum contract for October delivery started higher at RMB 15,160/mt and settled up RMB 355/mt or 2.37% at RMB 15,360/mt, after finding its high at RMB 15,390/mt. Positions dropped 3,494 lots to 123,850 lots. SMM expects the contract to struggle at RMB 15,200/mt for the near...
Aluminium futures up 0.33 pc on global cues
Aluminium futures prices rose 0.33 per cent to Rs 104.95 per kg today as speculators created fresh position in tandem with a firming global trend amid pick up in spot demand. At the Multi Commodity Exchange, aluminium for delivery in June gained 35 paise, or 0.33 per cent, to Rs 104.95 per kg, with...
SHFE aluminum contract settled down RMB 110/mt at RMB 15,060/mt: SMM Daily Review
The most active SHFE aluminum contract for October delivery started lower at RMB 15,060/mt and settled down RMB 110/mt or 0.73% at RMB 15,060/mt, rebounding from a new two-year low of RMB 14,925/mt as shorts took profits. Positions added 6,236 lots to 127,344 lots. Transacted contracts broke...
Shanghai aluminium falls over 3%
Shanghai aluminium futures fell over 3 percent in afternoon trade to a 14,990 Yuan ($2,400) a tonne, exchange data exchange showed on Tuesday. The most-active October aluminium contract on the Shanghai Futures Exchange was down 3.13 percent at 15,035 Yuan by 0640 GMT, after hitting a low of 14,990....
MCX Aluminium edged up by 0.2% at Rs 104.95 per kg on Friday, 22nd June
MCX Aluminium edged up by 0.2% at Rs 104.95 per kg on Friday, 22nd June and tested an intraday high at Rs 105.7 per kg and low at Rs 104.3 per kg. Bargain hunting with 6% dip in its open interest to 9517 lots helped the Aluminium metal end with modest gains shrugging off the its downtrend since...
