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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MCX Aluminum surges on domestic demand
Commodity reported that aluminum futures in India rose as pickup in demand from the domestic market and on tracking firm global markets. At MCX Aluminum August contract is now trading at INR 108.60 per Kilogram higher by 0.79% against the previous close. In the morning session the contract traded...
SMM Daily Review – 2011/8/19 Aluminum Market
Most active SHFE 1111 aluminum contract gapped over 1% lower at RMB 17,070/mt on August 19th due to a plunge in global financial markets. In the morning, it quickly rebounded to struggle at RMB 17,200/mt following an intraday low of RMB 17,020/mt. Total positions of the contract climbed in the...
MCX Aluminium outperforms as inventory declined
Aluminium was the top gainer of the day as the metal surged more than 2 percent on the LME as well as on the MCX from beginning of the week. Aluminium rose above 109 rupees per kilogram after opening edge higher at 108.35 rupees. Aluminium sustain above 107 that is very good indication for buying...
SMM Daily Review – 2011/8/18 Base Metals Market
Most active SHFE 1111 aluminum contract prices opened slightly higher at RMB 17,345/mt on August 18th, and hit an intraday high of RMB 17,430/mt in the morning with longs buying at lower prices. In the afternoon, most active SHFE aluminum contract prices fell to a lowest RMB 17,200/mt due to...
SMM Daily Review – 2011/8/18 Aluminum Market
Most active SHFE 1111 aluminum contract prices opened slightly higher at RMB 17,345/mt on August 18th, and hit an intraday high of RMB 17,430/mt in the morning with longs buying at lower prices. In the afternoon, most active SHFE aluminum contract prices fell to a lowest RMB 17,200/mt due to...
SMM Daily Review – 2011/8/17 Base Metals Market
Most active SHFE 1111 aluminum contract prices opened lower at RMB 17,190/mt on August 17th, and quickly climbed to an intraday high of RMB 17,345/mt before meeting resistance at the 60-day moving average caused by sluggish transactions and exiting capital. Finally closed price was RMB 17,310/mt,...
Base metal prices may tumble under pressure
Commodity reported that Industry metals tumble due to low demand in international market and weak US housing data released in next week. Base metals drifted by more than 1.5% down in opening trade amid weak global trend. Among all industrial metals, Aluminum future underperformed as prices drop by...
LME aluminium may bottom around $2,363/T
LME aluminium's fall may have ended and the contract may bottom out around $2,363 per tonne. The short-term downtrend that started at the July 27 high of $2,675.25 has developed five waves, with the final wave "5" likely to complete around $2,363.25, a low touched on Aug. 9.
SMM Daily Review – 2011/8/16 Base Metals Market
Most active SHFE 1111 aluminum contract prices opened lower at RMB 17,340/mt on August 16th. During the trading day, strong short momentum forced long capital to exit with positions falling by 4,218 lots following previous increase. Mainstream trading prices also fell below the 60-day moving...
SMM Daily Review – 2011/8/16 Aluminum Market
Most active SHFE 1111 aluminum contract prices opened lower at RMB 17,340/mt on August 16th. During the trading day, strong short momentum forced long capital to exit with positions falling by 4,218 lots following previous increase. Mainstream trading prices also fell below the 60-day moving...
SMM Brief Review - 2011/8/16 Aluminum Futures: Gap Filled, Bottom to Move Down
Most active SHFE 1111 aluminum contract prices opened lower at RMB 17,340/mt on August 16th. During the trading day, strong short momentum forced long capital to exit the market with positions falling by 4,218 lots following previous increase. Mainstream trading prices also fell below the 60-day...
East China Aluminum: Futures Lost over 1%, Spot Premiums Surge
Trading prices of spot aluminum in Shanghai on August 16th were between RMB 17,730-17,760/mt, with premiums of positive RMB 200-240/mt over SHFE current-month aluminum prices. Low-iron aluminum was traded between RMB 17,770-17,810/mt. Trading prices of spot aluminum in Wuxi were between RMB...
Aluminium up 0.28% in futures trade
In range-bound movements, aluminium prices edged higher by 0.28% to Rs 109 per kg in futures trading today, largely in tandem with a firming trend overseas.
SMM Daily Review - 2011/8/15 Base Metals Market
Most active SHFE 1110 aluminum contract prices opened slightly higher at RMB 17,535/mt and narrowly fluctuated in the morning session on August 15th. In the afternoon, positions of SHFE 1111 aluminum contracts significantly increased as a result of short activities, which dragged spot aluminum...
SMM Daily Review - 2011/8/15 Aluminum Market
Most active SHFE 1110 aluminum contract prices opened slightly higher at RMB 17,535/mt and narrowly fluctuated in the morning session on August 15th. In the afternoon, positions of SHFE 1111 aluminum contracts significantly increased as a result of short activities, which dragged spot aluminum...
China could hike aluminum imports in second half of 2011
Chinese aluminum imports could increase in the second half of 2011 as marginal costs in China are above the average price at the Shanghai Futures Exchange, says Barclays.
SHFE aluminium up for third day as strong buying continues
Aluminium remained the star performer on the Shanghai Futures Exchange on Thursday as prices slipped into backwardation after recent market volatilities drove futures prices down.
SMM Daily Review – 2011/8/11 Aluminum Market
Most active SHFE aluminum contract prices opened lower at RMB 17,480/mt on August 11th, and broke through the 30-day moving average to a high of RMB 17,765/mt in the morning with strong long momentum. Due to profit-taking in the afternoon, most active SHFE aluminum contract prices finally closed at...
