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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SMM Daily Review – 2011/7/21 Base Metals Market
Most active SHFE 1110 aluminum contract prices opened lower at RMB 17,630/mt on July 21st and fell below the 5-day moving average later. At the tail of trading, SHFE 1110 aluminum contract prices further plunged and hit RMB 17,480/mt. Finally SHFE 1110 aluminum contract prices slightly rebounded...
SMM Brief Review – 2011/7/21 Aluminum Futures
Most active SHFE 1110 aluminum contract prices opened lower at RMB 17,630/mt on July 21st and fell below the 5-day moving average later. At the tail of trading, SHFE 1110 aluminum contract prices plunged further and hit RMB 17,480/mt. Finally SHFE 1110 aluminum contract prices slightly rebounded...
SMM Daily Review – 2011/7/20 Aluminum Market
Most active SHFE 1110 aluminum contract prices opened higher at RMB 17,750/mt on July 20th, but quickly fell to RMB 17,575/mt after position increases by the shorts and profit-taking by the longs. Later SHFE 1110 aluminum contract prices rebounded and tested RMB 17,600/mt. Finally closed price was...
SMM Daily Review - 2011/7/19 Aluminum Market
On Tuesday, SHFE 1110 aluminum contracts became the most actively traded, with prices opening at RMB 17,680/mt in the morning session, touching RMB 17,725/mt and then falling to struggle at RMB 17,650/mt. At the end of trading SHFE 1110 aluminum contract prices closed at RMB 17,665/mt, up RMB...
SMM Brief Review – 2011/7/19 Aluminum Futures
Most active SHFE aluminum contract changed to 1110 on July 19. In the morning session, after opening higher at RMB 17,680/mt, SHFE aluminum prices temporarily broke RMB 17,700/mt and hit RMB 17,725/mt. However, after short selling increased, SHFE aluminum prices fell and fluctuated between RMB...
South China Aluminum: Buyers Scared Away by Surging Prices
Today the most active SHFE 1109 aluminum contract prices opened slightly higher at RMB 17,535/mt. During the day, after the longs gained confidence, SHFE 1109 aluminum contract prices surged and hit 17,720/mt, a recent new high. Total positions of SHFE 1109 aluminum contracts decreased by 1,890...
SMM Brief Review – 2011/7/18 Aluminum Futures
Today the most active SHFE 1109 aluminum contract prices opened slightly higher at RMB 17,535/mt. During the day, after the longs gained confidence, SHFE 1109 aluminum contract prices surged and hit 17,720/mt, a recent new high. Total positions of SHFE 1109 aluminum contracts decreased by 1,890...
SMM Brief Review – 2011/7/15 Aluminum Futures
Today’s most active SHFE 1109 aluminum contract prices opened slightly lower at RMB 17,365/mt, and slightly rebounded in the morning session. After 10:30, the longs pushed SHFE 1109 aluminum contract prices to today’s highest RMB 17,605/mt, which fell later due to the shorts’ selling. Finally...
SMM Brief Review – 2011/7/14 Aluminum Futures
Most active SHFE 1109 aluminum contract prices opened higher at RMB 17,400/mt today. As the US dollar index fell, SHFE 1109 aluminum contract prices rose steadily before the tail of the trading. Finally closed price was RMB 17,390/mt, up RMB 30/mt or 0.17% from previous trading day. Positions for...
Aluminium futures up on spot demand
Aluminium prices traded marginally higher by 0.36% to Rs 111.05 per kg in futures trading today as speculators enlarged their positions, driven by pick-up in spot market demand. Firming trend in base metal in global markets also influenced the trading sentiment. At the Multi Commodity Exchange,...
Indian aluminium futures up on spot demand
PTI reported that aluminum prices traded marginally higher by 0.36% to INR 111.05 per kilogram in futures trading as speculators enlarged their positions, driven by pick-up in spot market demand. Firming trend in base metal in global markets also influenced the trading sentiment. At the Multi...
SMM Brief Review – 2011/7/13 Aluminum Futures
SMM Brief Review – 2011/7/13 Aluminum Futures Most active SHFE 1109 aluminum contract prices opened higher at RMB 17,285/mt on July 13, and slightly rose to fluctuate near the 5-day moving average in the morning session. In the afternoon, as other metals prices jumped, SHFE 1109 aluminum contract...
MCX Aluminium will gain, buying recommended
MCX Aluminium yesterday traded with the positive node and settled 0.68% up at 110.65 tracking gains in other base metals counters. US credit rating agency Moody’s downgraded Ireland’s credit rating from BAA3 to BA1 and maintained a negative outlook for the country’s rating, which indicated the...
SMM Brief Review – 2011/7/12 Aluminum Futures
As LME aluminum prices fell another 2% overnight, most active SHFE 1109 aluminum contract prices opened lower at RMB 17,270/mt in response. They fluctuated at RMB 17,250/mt after failing to break through the 10-day moving average. Finally closed price was RMB 17,250/mt, down RMB 110/mt or 0.63%...
SMM Brief Review – 2011/7/11 Aluminum Futures
The high inflation pressure as indicated by the June CPI data which reached a new high in recent 3 years pressed most active SHFE 1109 aluminum contract price lower at RMB 17,320/mt during today’s opening. In the morning session, the 1109 contract price fluctuated upward but met resistance near RMB...
South China Aluminum: Demand and Supply Scarce Before Weekend
Though most active SHFE aluminum contract prices failed to break the RMB 17,500/mt level, spot aluminum prices still rose as a result of rising aluminum futures prices. Mainstream traded prices for spot aluminum in south China were between RMB 17,680-17,700/mt. Local traders’ unwillingness to move...
Gold, copper to shine; avoid crude & aluminium, say experts
Volatility in equity markets has seen investors shift from high risk assets to commodities. But is this the smart investment? Experts give their views on the hot commodities of the day. Aluminium: According to Anand Rathi Commodities, this metal is looking weak for the next couple of days. Kishore...
MCX Aluminum expected to retreat in next week
Commodity reported that aluminum remains negative in ongoing week as selling sentiment continues. Aluminum demand is weak these days. Mr Amrita Mashar commodity analyst said that “Technically, Resistance for Aluminum is at 114. Aluminum July contract opened at INR 112.60 and made low of 112 during...
