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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Aluminium dropped by 0.5% or at R 105.75 per kg on Wednesday, 20th June
MCX Aluminium was in downtrend since the early of this month by breaching the major support level of R 107.5 per kg and was found to be near to the another major resistance level of R 105.5 per kg. Aluminium dropped by 0.5% or R 0.5 at R 105.75 per kg on Wednesday, 20th June and tested an intraday...
Base metals outlook by Kotak
MCX Aluminum may note gains tracking firmness in international exchange. Supporting prices is firmness in copper prices and falling stocks at LME. Stocks at LME rose by 2,050 tons yesterday after declining by 16650 tons last week. Meanwhile cancel warrants ratio jumped to 37.5% signaling demand in...
SHFE aluminum settled down RMB 65/mt at RMB 15,800/mt
The most active SHFE aluminum contract for September delivery opened slightly higher at RMB 15,885/mt, shortly hit RMB 15,900/mt and trended downward. Its losses accelerated in the afternoon to finally settle at its low of RMB 15,800/mt, down RMB 65/mt or 0.41%. Positions dropped 244 lots to...
Aluminium rises marginally in futures trade
Aluminium prices rose by 0.14 per cent to Rs 107.85 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 domestic demand at spot markets. At the Multi Commodity Exchange, aluminium for delivery in June rose by 15 paise, or 0.14...
SHFE aluminum settled down RMB 5/mt or 0.03% at RMB 15,865/mt: SMM Daily Review
The most active SHFE aluminum contract started lower at RMB 15,855/mt and settled down RMB 5/mt or 0.03% at RMB 15,865/mt. It met strong resistance at the 5-day moving average and was pressured by the losses in Shanghai Composite Index. Transacted contracts added 4,440 lots to 6,686 lots and total...
SHFE aluminum contract settled down RMB 60/mt at RMB 15,860/mt on Tuesday: SMM Daily Review
The most active SHFE aluminum contract for September delivery started lower at RMB 15,845/mt and settled down RMB 60/mt or 0.38% at RMB 15,860/mt on Tuesday. Resistance at the 5-day moving average was still strong. Positions added 1,528 lots to 100,942 lots. As LME aluminum prices have been soft...
Aluminium to hang between Rs 108 per kg and Rs 107.5 per kg on11th June
MCX Aluminium buoyed by 0.5% or R 0.5 at R 108.9 per kg on Friday, 8th June and tested an intraday high of R 108.95 per kg and low of R 108 per kg. Bargain hunting with 10% dip in its open interest to 1900 lots lifted up the metal. The contract traded below 9-day EMA and RSI stood at 38.13....
Aluminium dropped to 5-week's low at Rs 108.25 per kg
Aluminium dropped to 5-week's low by 0.6% or Rs 0.6 at Rs 108.25 per kg with an intraday high at Rs 108.8 per kg and low at Rs 108.1 per kg on Monday, 4th June. Aluminium recovered huge losses during the morning session and edged up at MCX. The contract traded below 9-day EMA and found to be...
SMM Daily Review of Aluminum Market
Following the plunge of LME aluminum prices last Friday, the most active SHFE September aluminum contract gapped lower at RMB 15,850/mt and ended down RMB 85/mt or 0.53% at RMB 15,865/mt on Monday. It slipped to RMB 15,800/mt in the beginning, but recovered some losses with the help of bargain...
SHFE aluminum contract for September to struggle at RMB 15,950/mt : SMM Daily Review
The most active SHFE aluminum contract for September delivery opened lower at RMB 15,945/mt and settled down only a slight RMB 30/mt or 0.19% at RMB 15,965/mt, even though LME aluminum dipped to a 2012 low. Positions added 1,720 lots to 97,270 lots. Tight cash flow at month’s end and cautiousness...
SHFE aluminum contract to test pressure at RMB 16,050/mt
The most active SHFE aluminum contract for September delivery started at RMB 16,035/mt and closed unchanged from the previous trading day at RMB 16,030/mt on Tuesday. The light metal found its low at RMB 16,005/mt and rebounded with the help of bargain hunting. Profit-taking by longs dragged it...
SHFE aluminum settled up RMB 20/mt or 0.13% at RMB 16,020/mt
The most active SHFE aluminum contract opened at RMB 16,020/mt and settled up RMB 20/mt or 0.13% at RMB 16,020/mt. Its moving band was RMB 16,000-16,065/mt. Strong support was found at RMB 16,000/mt. Resistance at the 10-day moving average also remained strong though. Total transacted contracts of...
SHFE aluminum contract closed down RMB 80/mt or 0.5%
The Chinese central bank announced in the evening of May 12 to cut banks’ reserve requirement by 0.5 percentage point from May 18, a second cut this year and a signal that monetary policies will continue to loosen as necessary. However, investor worries towards implementation of austerity measures...
Bargain Hunting Favored Aluminium at Mcx Date
Aluminium buoyed by 0.6% or Rs 0.65 at Rs 108.5 per kg and tested an intraday high at Rs 108.65 per kg and low at Rs 107.9 per kg on Friday, 12th May. Short covering with 26% drop in its open interest to 2692 lots helped the metal to recover from its earlier lows. The contract traded below 9-day...
SHFE aluminum settled down RMB 70/mt or 0.43% at RMB 16,065/mt on Friday: SMM Daily Review
SHANGHAI, May 14 (SMM) – The most active SHFE aluminum contract for August delivery settled down RMB 70/mt or 0.43% at RMB 16,065/mt on Friday, after opening lower at RMB 16,120/mt. Transacted contracts climbed to 20,000 lots. SHFE aluminum futures prices dropped continually last week, with the...
Tin tack Recovery in aluminium prices cut short by China's increased output
The recent tentative recovery in aluminium prices has stalled, as China increased its output of the lightweight metal. Smelters that were shut down last year to meet the country's energy consumption targets in its five-year plan have now been restarted. "Once again, Chinese aluminium producers have...
Shanghai Metals Market Morning Review - 2012/3/27 Aluminum Market
Following a four-day loss, LME aluminum added USD 15/mt or 0.69% settling at USD 2,190/mt on Monday, after Fed President’s signal to maintain low interest rates dragged the US dollar index below 79. Transactions dropped to 7,805 lots, however, reflecting inadequate confidence. SMM expects LME...
Shanghai Metals Market Morning Review - 2012/3/26 Aluminum Market
LME aluminum closed down at USD 2,175/mt last Friday, after paring losses with a weakening US dollar. Volatile aluminum inventories, however, had limited the metal’s ability to recover losses. Transacted contracts dropped 7,947 lots to 12,590 lots. SMM expects LME aluminum to open at USD 2,180/mt...
