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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Indian aluminum futures fall on global cues
Indian aluminum prices fell by 0.70% to INR 113.70 per kilogram in futures trading after speculators reduced their positions on the back of a weak trend at London Metal Exchange. At the Multi Commodity Exchange, aluminum for delivery in August declined by 80 paise or 0.70% to INR 113.70 per...
Aluminum May Gain 9% in Shanghai on Tight Supply, Stanchart Says
Aluminum prices in China may rise about 9 percent “in coming weeks” amid concerns about a shortage in the world’s largest consumer and producer of the metal, according to Standard Chartered Plc analyst Judy Zhu. Aluminum on the Shanghai Futures Exchange may advance to 20,000 yuan ($3,106) a metric...
SMM Brief Review - 2011/8/2 Aluminum Futures
As LME aluminum prices fell overnight, most active SHFE 1110 aluminum contract prices opened lower at RMB 18,350/nt on August 2nd. After sluggish Shanghai Composite Index forced some longs to exit the market, with total positions of SHFE 1110 aluminum contracts decreasing by 14,000 lots, SHFE...
SMM Daily Review - 2011/8/1 Base Metals Market
Most active SHFE 1110 aluminum contract prices opened higher at RMB 18,410/mt on August 1st. In the morning, strong long momentum pushed SHFE 1110 aluminum contract prices to RMB 18,645/mt, a new high since last Thursday’s RMB 18,570/mt. Later released weakening PMI data of China boosted short...
SMM Daily Review – 2011/8/1 Aluminum Market
Most active SHFE 1110 aluminum contract prices opened higher at RMB 18,410/mt on August 1st. In the morning, strong long momentum pushed SHFE 1110 aluminum contract prices to RMB 18,645/mt, a new high since last Thursday’s RMB 18,570/mt. Later released weakening PMI data of China boosted short...
SMM Brief Review - 2011/8/1 Aluminum Futures
Most active SHFE 1110 aluminum contract prices opened higher at RMB 18,410/mt on August 1st. In the morning, strong long momentum pushed SHFE 1110 aluminum contract prices to RMB 18,645/mt, a new high since last Thursday’s RMB 18,570/mt. Later released weakening PMI data of China boosted short...
SMM Brief Review – 2011/7/29 Aluminum Futures
Most active SHFE 1110 aluminum contract prices opened lower at RMB 18,380/mt and later plunged to hit RMB 18,200/mt on July 29th. Finally closed price was RMB 18,210/mt, down RMB 245/mt or 1.33% from previous trading day. Total positions sharply decreased by over 19,000 lots due to profit-making by...
SMM Daily Review – 2011/7/28 Aluminum Market
Most active SHFE 1110 aluminum contract prices opened higher at RMB 18,270/mt on July 28, and surged by nearly 2% in the morning, hitting RMB 18,570/mt. In the afternoon, SHFE 1110 aluminum contract prices erased early gains due to stronger short momentum (short position momentum), and finally...
Aluminium ends higher on global cues
Aluminium yesterday traded with the positive node and settled 0.04% up at 115.5 as US Department of Commerce announced on July 27 that June durable goods orders fell 2.1% MoM, which was a second fall during recent three months, and was opposite from the expected 0.3% gain.
SMM Brief Review – 2011/7/28 Aluminum Futures
Most active SHFE 1110 aluminum contract prices opened higher at RMB 18,270/mt on July 28, and surged by nearly 2% in the morning, hitting RMB 18,570/mt. In the afternoon, after short selling prevailed, SHFE 1110 aluminum contract prices erased early gains and finally closed at RMB 18,360/mt, up RMB...
BASE METALS: Shanghai Metals Gain On Weak Dollar; Aluminum Up 1.9%
Base metals on the Shanghai Futures Exchange gained Wednesday on the back of a weak dollar amid growing concerns over the debt situation in the U.S. Aluminum once again outperformed other metals as expectations of a steady rise attracted more speculative buying, while copper also gained due to...
SMM Daily Review – 2011/7/27 Aluminum Market
Most active SHFE 1110 aluminum contract prices again opened higher at RMB 18,010/mt on July 27. In the morning, most active SHFE 1110 aluminum contract prices successfully broke through RMB 18,000/mt after 11: 00 a.m. and hit RMB 18,400/mt. At the tail of trading, most active SHFE 1110 aluminum...
BASE METALS: Shanghai Metals Gain On Weak Dollar; Aluminum Up 1.9%
Base metals on the Shanghai Futures Exchange gained Wednesday on the back of a weak dollar amid growing concerns over the debt situation in the U.S. Aluminum once again outperformed other metals as expectations of a steady rise attracted more speculative buying, while copper also gained due to...
SMM Brief Review – 2011/7/27 Aluminum Futures
As the bull market of SHFE aluminum futures continued, most active SHFE 1110 aluminum contract prices opened higher at RMB 18,010/mt on July 27. In the morning, most active SHFE 1110 aluminum contract prices successfully broke through RMB 18,000/mt after 11 a.m. and hit RMB 18,400/mt. At the tail...
SMM Daily Review – 2011/7/26 Base Metals Market
A bull market for SHFE aluminum contracts was seen on July 26th. In the morning, after opening at RMB 17,650/mt and consolidating at RMB 17,700/mt, most active SHFE 1110 aluminum contract prices surged and hit RMB 17,910/mt. In the afternoon, after regaining confidence, the longs pushed up SHFE...
SMM Daily Review – 2011/7/26 Aluminum Market
A bull market for SHFE aluminum contracts was seen on July 26th. In the morning, after opening at RMB 17,650/mt and consolidating at RMB 17,700/mt, most active SHFE 1110 aluminum contract prices surged and hit RMB 17,910/mt. In the afternoon, after regaining confidence, the longs pushed up SHFE...
SMM Brief Review – 2011/7/26 Aluminum Futures
A bull market for SHFE aluminum contracts was seen on July 26th. In the morning, after opening at RMB 17,650/mt and consolidating at RMB 17,700/mt, most active SHFE 1110 aluminum contract prices surged and hit RMB 17,910/mt during spot trading hours. In the afternoon, after regaining confidence,...
SMM Brief Review – 2011/7/22 Aluminum Futures
Most active SHFE 1110 aluminum contract prices opened lower at RMB 17,560/mt on July 22nd, and fell below RMB 17,500 due to short selling at the beginning. Later SHFE 1110 aluminum contract prices rallied and fluctuated at RMB 17,600/mt after more longs entered the market. During the last ten...
