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 marginally down on global cues
Aluminium futures fell marginally by 0.27% to Rs 111.05 per kg as speculators reduced their positions amid a weak trend at the London Metal Exchange. Subdued demand in the domestic spot market also put pressure on aluminium prices.At the Multi Commodity Exchange, aluminium for delivery in September...
Brief Review - 2011/9/19 SHFE Aluminum Futures
Most active SHFE 1111 aluminum contract gapped lower at RMB 17,100/mt today due to aggressive short selling, and climbed to an intraday high of RMB 17,290/mt during initial trading hours on profit taking by the shorts. After the longs were forced to exit by worries towards a downgrade on Italy debt...
Outlook on Aluminium: Kotak Commodity
MCX Aluminum may trade with negative bias tracking weakness in copper prices. However recent fall in stocks at LME warehouses may cap the downside. Stocks at LME fell by 22950 tonnes last week while those at SHFE fell by 1334 tonnes. Support for Aluminum September contract is seen at Rs.109.5 while...
SMM Daily Review - 2011/9/16 Aluminum Market
Most active SHFE 1111 aluminum contract opened slightly higher at RMB 17,385/mt on September 16th. After hitting an intraday high of RMB 17,405/mt at the beginning of trading, the contract quickly slipped on profit taking by the longs with positions dropping by 3,758 lots, and finally closed at RMB...
LME aluminium to drop to $2,326/T
A bearish target has been established at $2,326 per tonne for LME aluminium as indicated by its wave pattern and a Fibonacci projection analysis. The metal is riding on a fierce downward wave "C", unfolding towards $2,326, the 50 percent Fibonacci projection level, based on the length of the...
SMM Brief Review - 2011/9/16 SHFE Aluminum Futures
Most active SHFE 1111 aluminum contract opened slightly higher at RMB 17,385/mt on September 16th. After hitting an intraday high of RMB 17,405/mt at the beginning of trading, the contract quickly slipped on profit taking by the longs with positions dropping by 3,758 lots, and finally closed at RMB...
SMM Brief Review - 2011/9/13 SHFE Aluminum Futures
Most active SHFE 1111 aluminum contract opened lower at RMB 17,430/mt on the first trading day following China’s Mid-Autumn Festival. Due to a bearish economic environment, domestic investors successively exited the market. Transactions during the day were less than 30,000 lots and positions of the...
SMM Brief Review – 2011/9/9 SHFE Aluminum Futures
Most active SHFE 1111 aluminum contract opened slightly higher at RMB 17,455/mt on September 9th, and narrowly fluctuated in the morning session due to a lack of upward momentum on remaining high inflation pressure as reflected by August CPI data. The contract fluctuated upward to an intraday high...
SMM Morning Review - 2011/9/8 Aluminum Market
The USD 300 billion job package scheduled to be announced by Obama today, combined with successful approval of austerity plan in Italy meaning lower default risk, boosted investor risk appetite overnight, with US stock markets surging by over 2% and the US dollar index closing 0.47% lower at...
SMM Brief Review - 2011/9/7 SHFE Aluminum Futures
Most active SHFE 1111 aluminum contract opened slightly higher at RMB 17,305/mt on September 7th. With alleviated investor worries towards global economic recession, the Shanghai Composite index rebounded to above the 2,500 mark, forcing shorts in SHFE aluminum market to exit and sending most...
South China Aluminum: Transactions Slightly Rise with Futures Rally
Most active SHFE aluminum contract ended its 5-day loss with higher opening prices and later gains on September 7th, and goods holders in south China kept their quotes firm at above RMB 17,900/mt. Remaining weak consumption, however, limited spot price gains, with mainstream trading prices only...
East China Aluminum: Market Sentiment Improves with Futures Rally
Trading prices of spot aluminum in Shanghai were between RMB 17,750-17,780/mt on September 7th, with premiums of positive RMB 20-50/mt over SHFE current-month aluminum prices. Low-iron aluminum was traded between RMB 17,800-17,840/mt. Trading prices of spot aluminum in Wuxi were between RMB...
LME Aluminum Trading Surges to Record Level in August
Trading of aluminum futures and options on the London Metal Exchange surged to a record in August, Miriam Heywood, a spokeswoman for the bourse, said today.
Aluminium futures tumble under pressure below 110
This week began on a negative note and expected to continue as eyes have now down turned towards the rising European economic issues. On Monday, global markets witnessed a stock selloff and equities in Europe especially declined sharply. Metals prices also move downside as market anxiety increases...
SMM Brief Review - 2011/9/6 SHFE Aluminum Futures
Following a plunge in financial markets overnight, most active SHFE 1111 aluminum contract opened lower at RMB 17,320/mt on September 6th. After hitting an intraday low of RMB 17,215/mt in the morning due to strong short momentum, the contract rebounded slightly in the afternoon on profit-taking by...
Outlook on Aluminum: Kotak Commodities
MCX Aluminum may note some decline tracking copper prices. Also recent jump in stocks at LME warehouses may weigh on the prices. Stocks at LME fell by 20875 tonnes last week but are in the upper range for the year while those at SHFE fell by 7009 tonnes. Support for Aluminum September contract is...
SMM Morning Review - 2011/9/6 Aluminum Market
Continued market panic fueled by pessimism towards future global economy pressed global stock and commodity prices lower overnight, while sending the US dollar index to 75 and gold price back again to USD 1,900/oz. During European trading hours, LME aluminum prices fell below the 20-day moving...
SMM Brief Review - 2011/9/5 SHFE Aluminum Futures
Most active SHFE 1111 aluminum contract opened slightly lower at RMB 17,405/mt on September 5th, due to renewed worries towards US economic recession among investors. After hitting an intraday high of RMB 17,480/mt at the beginning, the contract fell to RMB 17,315/mt, a two-week low, after Shanghai...
