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
Incompetent demand from China makes Japan's Sumitomo see aluminum surplus at highest level
Sumitomo Corp., Japan’s fourth- largest trading house, raised its forecast for a global aluminum surplus to the highest level in two years as demand from China, the biggest consumer, won’t be enough to absorb new capacity. Supply will outpace demand for a seventh year by 866,000 metric tons this...
LME aluminum should fluctuate between USD 1,930-1,980/mt on 7th March: SMM Morning Review
Base metals consumption in China was tepid, and the euro zone revised its 4Q GDP to -0.9%, offsetting positive news from forecast-beating US ADP employment in February. As such, the US dollar index climbed to 82.604 overnight, causing LME aluminum to tumble below USD 1,950/mt to the lowest for the...
LME aluminum should fluctuate between USD 1,960-2,000/mt on 6th March: SMM Morning Review
Premier Wen said in his government work report yesterday that the Chinese economy will grow by 7.5% in 2013, boosting market confidence on stabilizing economy. Later, the US announced that ISM non-manufacturing PMI advanced to 56 in February, similarly improving market sentiment. As such, LME...
LME aluminum should fluctuate between USD 1,950-2,000/mt on 4th March: SMM Morning Review
Worse-than-expected economic figures from the euro zone and expectations for lower interest rate in the region pushed the euro down against the US dollar. February manufacturing PMI in the US suggested that the US economy is continuing to recover, driving the US dollar index above 82 and weighing...
LME aluminum should fluctuate in the band of USD 1,980-2,030/mt on 1st March: SMM Morning Review
The final reading of Spain’s 4Q GDP shrank 1.9% YoY. The 4Q GDP of the US was revised to a meager 0.1% growth, but still fell short of expectations. Growing worries over economy in Europe and the US, coupled with a lack of progress on negotiations over automatic spending cuts in The US, helped the...
World unwrought aluminum stocks in January up 45,000 mt on month
Global unwrought aluminum inventories at the end of January were up 45,000 mt from December but down 186,000 mt from January 2012, according to figures released Wednesday by the International Aluminium Institute. Unwrought inventories totaled 1.307 million mt at the end of January, up from a...
Pressure of London Aluminium Continued, Shanghai Aluminium Continue to be Weak
Shanghai aluminium future continues to be weak. 1305 contract closed at 14850 yuan per ton, dropped 5 yuan. Initial value of Huifeng Manufacture Industry was not as good as expected in the report of Feb. US dollar indexed performance is still powerful, pressure of outer disc London aluminium...
LME aluminum should fluctuate between USD 2,010-2,050/mt on 27th Feb: SMM Morning Review
The US new home sales rose to 437,000 annual rate in January, beating forecasts. Besides, the US Consumer Confidence index also rebounded appreciably in February and Richmond Fed manufacturing index jumped into positive territory in February. These positive figures eased market worries. However,...
Profits of Chinese aluminium companies declined in 2012
Due to the depressed market, profits of Chinese aluminium companies declined a lot in 2012. Chinese economic situation has been steady since 2013. But market analysts don’t have positive comments. Almost all of them said that aluminium price won’t come out of bear market in 1 or 2 years. The direct...
Aluminum Prices Post Biggest Weekly Decline in 14 Months
Aluminum fell, capping the biggest weekly drop in 14 months, on signs that increasing output in China will add to a global glut. Global output increased 5.7 percent in January from a year earlier to 3.917 million metric tons, the International Aluminium Institute said Feb. 20. Chinese production...
Aluminium shipments in North American off to a slow start in 2013
Metal shipments in 2013 decreased from last January’s levels at small single digit rates in both the United States and Canada. In January, 126,100 tonnes of aluminum products were shipped by US service centers, a decrease of 5.6% from the same month in 2012. Inventories of aluminum products were...
China's aluminium stockpiles reach new high
China's aluminium inventories reached a record high this week, caused by rapidly growing supply and weak demand in the country, China Daily reported Sunday. The country's overall aluminium stockpiles climbed to 1.25 million tonnes Monday, almost double the level during the same period late year. On...
LME aluminum should fluctuate between USD 2,030-2,070/mt on 25th Feb: SMM Morning Review
The European Commission predicted last Friday that the euro zone’s economy will shrink 0.3% in 2013, down from its earlier forecast. The ongoing general election in Italy will add uncertainties to the European economy. As a result, the US dollar rose against the euro, causing LME aluminum prices to...
Downstream consumption expected to lift Aluminium Price in China
Shanghai aluminium price reached new low this week. Stagnated downstream consumption and increasing inventory largely affected aluminium price. From the view of position, main buyers increased holding this week. Qingtongxia, China International and Chalco International Trade increased the most....
Barclays shows concern over weak numbers for Aluminium demand
On the demand side, the most recent numbers have been uninspiring for Aluminium, said Barclays in a report. In Europe, Japan and the US, data displayed sequential weakness in shipment levels into year-end, although an up -tick in regional premia in January, alongside some positive auto data in the...
Aluminium market creaks under weight of financing deals
The $80-billion aluminium market is starting to crack under the weight of finance deals that have locked up millions of tonnes of the metal as collateral in warehouses. For years, financial institutions have been buying physical aluminium and simultaneously selling futures. Stock financing is...
Chinese Aluminium Inventory Reached New High
Due to the over speed of supply growing rate, Chinese main trade area’s aluminium inventory estimated to reach new high in record. This will intensify the over supply of non-ferrous situation in the world. According to research of four cities, the inventory of aluminium has risen to 1.11 million...
LME aluminum should fluctuate between USD 2,050-2,090/mt on Friday: SMM Morning Review
Fears that the US Federal Reserve may stop bond buying sooner than expected continued to negatively affect markets. Besides, February manufacturing PMI from the US and euro zone fell short of forecasts and US initial jobless claims rose again, increasing worries over global economic outlook....
