LME aluminium price eases 0.3% on September 10; stocks remain stable at 244,525/t
The London Metal Exchange (LME) aluminium price graph contracted on September 10 across cash and contracts, with longer-dated contracts reporting nearly 1 per cent decline. The aluminium opening stocks, however, remained stable. The LME aluminium cash bid price shifted from USD 3,351.5 per tonne on...
LME aluminium price chart rises further to $3,325/t; stocks remain stable
The London Metal Exchange (LME) aluminium price chart continues to record an upward trend across the pricing and contract segments on the September 8 trading session, reporting gains over the September 7 close . Opening stocks remained stable, not reporting any further decline. The LME aluminium...
Grow with
AL Circle
Aluminium rallies on signs of output cuts
Aluminium rallied to the highest level in more than two months amid signs that smelters were finally beginning to respond to low prices by shuttering production capacity in scale. On Wednesday, Chalco, the Chinese state aluminium giant that is one of the world’s top producers of the metal,...
SMM Morning Review: LME aluminum should move within USD 1,950-1,990/mt on 6th June
According to the ADP National Employment Report, 135,000 jobs were added in US private sectors in May, well below the 165,000 forecast. This kept investors cautious about non-farm employment due to the released tomorrow. US factory orders increased 1.0% MoM in April, also missing expectations. On...
SMM Morning Review: LME aluminum should move within USD 1,920-1,960/mt on 5th June
The US Commerce Department announced overnight that the country’s trade deficit expanded to USD 40.29 billion in April as imports of automobiles and mobile phones exceeded exports. This will contribute to its GDP growth in the second quarter. In response, LME aluminum jumped to the highest since...
SMM Morning Review: LME aluminum should move within USD 1,900-1,940/mt on 4th June
HSBC’s final China May manufacturing PMI hit an 8-month low of 49.2. US ISM manufacturing PMI fell unexpectedly to 49, the lowest level since June 2009. Manufacturing in the euro zone slipped into contraction for 22 months in a row. Faltering global economy undermined market sentiment, but also...
SMM Morning Review: LME aluminum should move within USD 1,900-1,930/mt on 3rd June
Most of the US economic data released last Friday were positive. Chicago PMI rose to 58.7 in May, the highest level since last March. The University of Michigan final index of US consumer sentiment in May climbed to 84.5, a record high since July 2007. The US registered a 0.1% increase in retail...
SMM Morning Review: LME aluminum should move within USD 1,880-1,920/mt on 31st May
Economic Sentiment Indicator in the euro zone gained 0.8 points to 89.4 in May, capping forecasts and helping the euro rebound. The US Q1 GDP was revised to a 2.4% annual growth rate. Initial jobless claims in the US rose to 354,000 in the week ended May 25. Weak economic data suggest that the US...
SMM Morning Review: LME aluminum should move within USD 1,850-1,870/mt on 30th May
The Organization for Economic Co-operation and Development (OECD) on Wednesday trimmed its growth estimate for the world economy, saying global GDP will expand 3.1% in 2013, instead of 3.4% estimated earlier. It also lowered the US growth outlook for 2013 to 1.9% from 2% and cut its forecast for...
World aluminum stocks fell by 29,000 tons in April
Total world aluminum inventories in April this year fell by 29,000 metric tons on-month to 2.296 million tons, according to figures released Tuesday by the International Aluminum Institute. World stocks in March stood at 2.325 million tons. April stocks were down 120,000 tons compared to the same...
SMM Morning Review: LME aluminum should move within USD 1,840-1,860/mt on 29th May
US home prices jumped 10.9% in March compared with a year ago, the highest level in seven years. The Conference Board’s Consumer Confidence Index rose to 76.2 in May. These positive data are a sign of sustained improvement in the US economy, but also raised worries that the US Federal Reserve will...
Aluminum steady in April shipments from US and Canada
North America’s aluminum exports through shipments increased during April, increasing their daily shipment rates. The information is based on the Metals Service Center Institute’s Monthly Activity Report, which is based on data supplied by participating metals service centers for both countries....
SMM Morning Review: LME aluminum should move with in USD 1,840-1,860/mt on 24th May
HSBC’s flash China manufacturing PMI for May dropped unexpectedly, slipping into contraction for the first time in seven months. Manufacturing in the euro zone rebounded slightly, but still indicated contraction. Manufacturing in the US slowed, but did point to expansion. Market worries remained...
SMM Morning Review: LME aluminum should move with in USD 1,850-1,880/mt on 23rd May
US Federal Reserve Chairman Bernanke’s testimony to the congress overnight was in support of QE3 to propel US economy. However, Bernanke also said that asset buying may be scaled back later this year if economy improves further. The minutes of April policy meeting indicate intense debate among Fed...
SMM Morning Review: LME aluminum should move with in USD 1,850-1,870/mt on 22nd May
Investors are cautious ahead of US Federal Reserve Chairman Bernanke’s testimony to the congress due today and preliminary manufacturing index from major economies for May due later this week. Despite the retreat of the US dollar index from 84 during European session, LME aluminum pulled back after...
China Halts 1 Million Tonnes Of Primary Aluminium Capacity
Market sources in China have reported that China has temporarily halted 1 million metric tons a year of primary aluminum capacity so far this year. A further cut of 300000 tonnes capacity is expected in the country's east before year-end if metal prices remain low. However, this is unlikely to...
Rusal, Chalco to Decide on JV in June
Russian aluminum producer United Co. Rusal PLC and Aluminum Corp. of China Ltd. ( Aluminum Corporation of China Limited), or Chalco, will decide in late June the outcome of a joint-venture accord to consider cooperation on four projects in the aluminum sector, Rusal's deputy chief executive, Oleg...
SMM Morning Review: LME aluminum should move with in USD 1,830-1,855/mt on 20th May
The University of Michigan preliminary index of consumer sentiment rose to 83.7 in May, a six-year high. Meanwhile, the Conference Board Leading Economic Index for the US also increased 0.6% in April, a five-year high. These positive data helped send the US dollar index up to 84, weighing on...
SMM Morning Review: LME aluminum should move with in USD 1,830-1,855/mt on17th May
US initial jobless claims jumped to 360,000 in the week ended May 11. The US posted a 1.1% growth in CPI in April, below expectations. These data helped reduce possibility of asset purchases cuts by the US Federal Reserve for the immediate term. As such, the US dollar index pulled back from high...
LME Aluminium inventories climb 76125 tons Tuesday
Tuesday has seen London warehouses witnessing a rise in aluminum inventories to the tune of 1.4% or 76125 tons to touch 5230300 tons. The inventories mark a six week high level. The prices have been charting a downward direction ever since higher supply pressure began to be felt by markets. For...
