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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South China Aluminum: Mainstream Trading Prices Fall on Weakening Futures, Weak Consumption
Mainstream trading prices of spot aluminum in south China fell to RMB 17,900-17,940/mt on September 5th with SHFE aluminum futures’ falling significantly from an intraday high, sufficient supply and weak consumption. Overall market transactions were sluggish during the day.
SMM Daily Review - 2011/9/2 Aluminum Market
Most active SHFE 1111 aluminum contract opened slightly lower at RMB 17,465/mt on September 2nd. After erasing weekly gains to RMB 17,370/mt due to profit-taking by the longs and short-selling, the contract partially pared losses at the tail of trading on profit-taking among the shorts, and finally...
Outlook on Aluminum: Kotak Commodity
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 rose by 75 tonnes yesterday and are in the upper range for the year while those at SHFE fell by 15,885 tonnes. Support for Aluminum September contract is...
SMM Brief Review - 2011/9/2 Aluminum Futures
Most active SHFE 1111 aluminum contract opened slightly lower at RMB 17,465/mt on September 2nd. After erasing weekly gains to RMB 17,370/mt due to profit-taking by the longs and short-selling, the contract partially pared losses at the tail of trading on profit-taking among the shorts and finally...
SMM Daily Review - 2011/9/1 Aluminum Market
Though LME aluminum gained again by nearly 2% overnight, most active SHFE aluminum contract opened only slightly higher at RMB 17,510/mt on Sept 1st. After hitting an intraday high of RMB 17,555/mt supported by exiting shorts, the contract erased earlier gains due to weakening Shanghai Composite...
SHFE aluminium slip on profit-taking
Shanghai Futures Exchange copper and aluminium fell back on profit-taking on Thursday but remained near a three-week high after China's manufacturing index rebounded from a 29-month low.
Shanghai to Expand Storage for Aluminum, to Boost Trade-Hub Status
Shanghai will increase storage for metals at bonded warehouses as much as fivefold, lowering costs for commodity trading and potentially boosting shipments. “As we expand our physical and futures-related trading businesses, it’s likely to become a globally influential price- forming center for...
Aluminum Price Regain
Harbor Intelligence predicts that aluminum price will regain to $2,702 /Ton during the rest of 2011, and $3,100/Ton in 2012, while during 2013-2014, it will reach $3,400/Ton. Harbor Intelligence also said that three months futures at LME will decrease 3.7%,due to the weak demand of spot products...
SMM Morning Review - 2011/9/1 Aluminum Market
Investor confidence for LME aluminium rose overnight backed by optimistic expectation for China aluminium consumption in September and better-than-expected factory orders from the US (2.4% to 1.9%), thereby pushing LME aluminium prices to close USD 44.8/mt or 1.84% higher at USD 2471.8/mt, a new...
Kotak Commodity outlook on aluminum
MCX Aluminium may note some decline tracking copper prices, however the downside remains capped. Further, recent jump in stocks at LME warehouses may also weigh on the prices. Stocks at LME rose by 7300 tonnes after rising by 105625 tonnes last week while cancelled warrants eased to 6.98%. Support...
SMM Brief Review - 2011/8/30 Aluminum Futures
Most active SHFE 1111 aluminum contract opened slightly higher at RMB 17,380/mt on August 30th, and failed to break through RMB 17,500/mt despite rising Chinese stock prices and surrounding metals prices. The contract partially erased earlier gains during spot trading hours due to weak spot...
SMM Daily Review - 2011/8/29 Base Metals
After opening higher at RMB 17,380/mt, most active SHFE 1111 aluminium contract outperformed surrounding base metals contracts and hit an intraday high of RMB 17,395/mt on August 29th. However, due to market concerns towards liquidity pressure caused by talks of a spread of base of reserve to...
SMM Brief Review – 2011/8/29 Aluminum Futures: Aluminum Price Stagnates with Reserve Base Spread
After opening higher at RMB 17,380/mt, most active SHFE 1111 aluminum contract outperformed surrounding base metals contracts and hit an intraday high of RMB 17,395/mt on August 29th. However, due to market concerns towards liquidity pressure caused by a spread of base of reserve to include margin...
SMM Brief Review - 2011/8/26 Aluminum Futures: Most Active Contract Breaks 60-day Moving Average
Most active SHFE 1111 aluminum contract opened slightly higher at RMB 17,330/mt on August 26th. After meeting temporary strong resistance, the contract broke through the 60-day moving average with increased buying, hitting an intraday high of RMB 17,445/mt. The contract finally closed RMB 80/mt or...
Outlook on aluminum : Kotak Commodity
Kotak Commodity has come out with its report on aluminum. MCX Aluminum may note some gains tracking copper prices, however the upside remains capped. Recent jump in stocks at LME warehouses may weigh on the gains. Stocks at LME fell by 7300 tonnes yesterday after rising by 105625 tonnes last week...
SMM Brief Review - 2011/8/24 Aluminum Futures: Price Fluctuation to Continue in Short Term
Most active SHFE 1111 aluminum contract prices opened slightly higher at RMB 17,330/mt on August 24th. After a brief test of RMB 17,345/mt the 60-day moving average, market sentiment fell as a result of Japanese rating downgrade by US credit agency Moody’s, with market transactions falling by half....
MCX Aluminium find strength on improving demand
Aluminium yesterday traded with the negative node and settled at 106.30 due to stronger US dollar and market concerns over the global economic growth. MCX Aluminium August delivery contract rose by 0.42 percent to 106.85 rupees per kilogram. Prices are looking slightly bearish below 110 rupees per...
Indian aluminum futures decline on profit booking
Indian aluminum futures prices declined by 0.47% to INR 105.80 per kilogram as speculators booked profits at existing high levels, driven by subdued demand in the spot market. At the Multi Commodity Exchange, aluminum for delivery in August declined by 0.50 paise or 0.47% to INR 105.80 per kilogram...
