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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East China Aluminum: Premiums Expand, Spots and Futures Go Oppositely
Traded prices of spot aluminum in Shanghai were between RMB 15,830-15,860/mt on Thursday, with premiums of RMB 40-60/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 15,840-15,880/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB...
Shanghai Metals Market Morning Review - 2011/12/14 Aluminum Market
News overnight were almost all negative. For instance, the LME aluminum stock surged again by almost 100,000 mt overnight to a new record, Germany prime minister rejected expansion of the 500 billion euro EMS loan agreement and the Fed maintained its interest rates and provided no stimulus plan....
Shanghai Metals Market Morning Review - 2011/11/29 Aluminum Market
News said on November 28th that European leaders will propose a new solution for the region’s debt crisis and IMF may provide Italy with 400-600 billion euro of financial aid. Meanwhile, U.S. National Retail Federation data show retail sales during this year's Thanksgiving Day surged 16% from last...
Aluminium futures continues to trade lower on MCX
MCX Aluminium traded with the negative node and settled -1.67% down at 106.3 as HSBC’s November China PMI contracted unexpectedly. Demand was weak at major consumption countries. Disappointing results of German bond sales added to worries that the Euro zone debt crisis is spreading into core...
Aluminium neutral in $2,096.25-$2,170 range
LME aluminum has turned neutral as it returned into a range of $2,096.25-$2,170 per tonne. The metal refused to fall below a key support at $2,096.25, indicating that a big upward wave ""C"" could develop. But so long as the contract stays below $2,170, the upward wave ""C"" will not be confirmed....
Hindalco Q2 net lags f'cast, sees tough H2
Non-ferrous metals producer Hindalco Industries lagged estimates with a 16 percent rise in quarterly net profit and warned the second half of this fiscal year would be tough due to global economic uncertainty and cost pressures. The firm, part of the diversified Aditya Birla Group, said on Thursday...
Aluminium up 0.94 pc in futures trade
Aluminium prices gained 0.94 per cent to Rs 106.90 per kg in futures market today on the back of pick-up in spot demand and a firming trend overseas. At the Multi Commodity Exchange, aluminium for delivery in November rose by a rupee, or 0.94 per cent, to Rs 106.90 per kg, with a business turnover...
Russia RUSAL registers metal with Shanghai exchange
Russia's UC RUSAL , the world's biggest aluminium producer, said it had registered two brands of its metal with the Shanghai Futures Exchange to increase sales in China, the world's largest consumer of the metal. "Growing urbanisation and industrial development will continue to drive China's...
South China Aluminum: Futures Market Depressed, Aluminum Prices Fall Slightly
Most active SHFE aluminum prices struggled around 5-day moving average on Tuesday. Spot aluminum prices fell slightly due to the lack of upward momentum, with mainstream transactions done at RMB 16,340-16,380/mt. Since futures market presented a weak track recently, cargo holders were much more...
Shanghai Metals Market Brief Review - 2011/10/28 SHFE Aluminum Futures
The most active SHFE 1201 aluminum contract opened higher at RMB 16,570/mt on October 28th following an overnight surge in LME aluminum prices. The contract hit an intraday high of RMB 16,680/mt earlier in the day. However, as support from the EU deal has already been consumed and gains during the...
SMM Brief Review - 2011/10/28 SHFE Aluminum Futures
The most active SHFE 1201 aluminum contract opened higher at RMB 16,570/mt on October 28th following an overnight surge in LME aluminum prices. The contract hit an intraday high of RMB 16,680/mt earlier in the day. However, as support from the EU deal has already been consumed and gains during the...
LME aluminium to retrace into $2,161-$2,175 range
LME Aluminum is expected to retrace into a range of $2,161-$2,175 per tonne, as a rebound from the Oct. 20 low of $2,077.75 could have completed. The rebound slowed after it approached a resistance at $2,230, the 38.2 percent Fibonacci retracement on the fall from $2,476 to $2,077.75, and the wave...
South China Aluminum: Violent Fluctuation in Futures Market with Active Transactions Only at Noon
Most active SHFE aluminum contract led a drop on Tuesday morning after rising high for 2 consecutive days, but strongly rebounded later driven by SHFE copper prices which surged to limit-up. This boosted confidence in aluminum prices among downstream buyers, with relatively high buying interest in...
SMM Brief Review - 2011/10/24 SHFE Aluminum Futures
The most active SHFE 1112 aluminum contract gapped higher at RMB 16,390 on October 24th, and surged 2.9% in the afternoon to an intraday high of RMB 16,700/mt. The contract trimmed gains later, however, and finally closed at RMB 16,560/mt, up RMB 330/mt or 2.03% from previous trading day. Positions...
South China Aluminum: Remarkable Contrast in Futures and Spot Markets with Quiet Spot Trading
SHFE aluminum rallied significantly in the afternoon session on Monday, up nearly 3%. By contrast, spot aluminum market was quite lackluster, and downstream buyers in south China just purchased as needed. Although cargo holders actively sold goods at low prices, limited consumption pared increase...
Aluminum futures may go down further on MCX
Commodity reported that MCX Aluminum October contract traded with the negative node and settled -1.31% down at 106.75 as the European debt bailout negotiation bogged down again overnight following a rating cut for Spain and divergence on EFSF expansion. Later Fed said that the US economy continued...
SMM Daily Review - 2011/10/18 Aluminum Market
The most active SHFE 1112 aluminum contract gapped lower at RMB 16,570/mt on October 18th after Germany denied a final solution deadline for the euro zone debt crisis. Due to strong short selling, the contract plunged over 2% to RMB 16,320/mt after its opening, and narrowed losses with...
East China Aluminum: Aluminum Futures Plunge 2%, Only Inquiries from Middlemen
Traded prices of spot aluminum in Shanghai were between RMB 16,530-16,560/mt on October 18th, with premiums of RMB 50-80/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,600-16,640/mt. Traded prices of spot aluminum in Wuxi were between RMB...
