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...
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LME aluminum should fluctuate between USD 2,070-2,110/mt on 21st Feb: SMM Morning Review
US housing starts declined in January, but building permits rose to the highest level since June 2008. Besides, the January PPI in the US grew for the first time in four months. Nevertheless, the January meeting minutes released by the US Federal Reserve show that some members of the Congress...
China Aluminum Stockpiles at Record High
Aluminum inventories in China’s main trading regions are estimated to have climbed to a record as supply growth outpaces demand in the largest user and producer, adding to a global glut of the lightweight metal. Reserves expanded to 1.119 million metric tons from 750,000 tons a year ago, according...
China’s Aluminum ingot social stock reached record highs
Since continuous supply of aluminum manufacture during Spring Festival,aluminum ingot social stock goes up largely after festival.As the statistic shows ,the aluminum ingot social stock in Shanghai,Wuxi,Nanhai and Guangdong reached record highs with a quantity of 1,119,000 tons,159,000 tons over...
Japan Aluminum Stocks up 11.1% in January
Aluminum stocks at Japan's major ports were up 11.1% at the end of January compared with a month earlier, a major Japanese trading house said in an email Thursday. The rise follows a period of slow demand for the light metal in Japan, where it is used in areas such as the automotive and electronics...
LME aluminum prices closed at USD 2,102/mt on 6th Feb: SMM Morning Review
Risky events in Europe, including the corruption scandal of Spanish prime minister and the rising support for Italian former prime minister Berlusconi fueled market concerns overnight, driving the US dollar index to grow and LME aluminum prices to fall below USD 2,100/mt during the European trading...
LME aluminum prices moved up to the 5-day moving average to close at USD 2,118/mt on 5th Feb: SMM Morning Review
The political issue in Italy and Spain weighed down base metals on Tuesday. However, as the eurozone service PMI for January improved and the IBD consumer confidence index for February also increased, LME aluminum prices moved up to the 5-day moving average during European trading session and...
China's impact on 3 Month LME aluminium prices neutral at best
We expect much of China's new production of aluminium to be absorbed by improving demand in 2013. However, surpluses in the country are likely to remain as inventory levels stay high throughout the year. China is unlikely to release its surpluses into the global market, given the 15% export tax on...
LME aluminum should fluctuate between USD 2,100-2,150/mt on 4th Feb: SMM Morning Review
The January manufacturing PMI from Europe and the US rose and beat forecasts, boosting market confidence on economic recovery. The January nonfarm payrolls in the US were disappointing, with the unemployment rate rising slightly, which provides support for the US Federal Reserve to continue its...
LME aluminum should move between USD 2,080-2,120/mt on 31st Jan: SMM Morning Review
The economic sentiment in the euro zone rebounded in January. The ADP employment report shows the number of employed people rose significantly in the US in January and was well above forecasts. Besides, market expectations are growing that the US Federal Reserve will continue easing policies. These...
LME aluminum should move between USD 2,050-2,090/mt on 25th Jan: SMM Morning Review
The preliminary manufacturing PMI for January in China, euro zone and the US, released yesterday, all hit a two-year high. The US new weekly jobless claims fell to a five-year low. These figures signal global economic recovery. However, upbeat data also means that existing stimulus policies may end...
LME aluminum should move between USD 2,050-2,090/mt on 24th Jan: SMM Morning Review
The House of Representatives passed a bill to extend the debt ceiling deadline by an additional 3 months through voting on Wednesday. This move eased market apprehension and helped LME aluminum hit a high of USD 2,101.3/mt during the European session. However, uncertainty over debt ceiling issues...
LME aluminum should move between USD 2,040-2,075/mt on 23rd Jan: SMM Morning Review
The US announced overnight that the Chicago Fed National Activity Index (CFNAI) for December and Richmond Fed manufacturing index for January both shrank and were well below expectations. What’s worse, US existing home sales also slid in December. Nevertheless, easing monetary policy introduced...
LME aluminum should fluctuate between USD 2,030-2,060/mt on 22nd Jan: SMM Morning Review
Trading volumes in LME aluminum market dropped to 5,405 lots overnight as financial markets in the US were closed yesterday for the Martin Luther King, Jr. Day. LME aluminum prices failed to break through USD 2,050/mt and dipped to a low of USD 2,037.8/mt. Finally, LME aluminum finished at USD...
Primary Aluminium surplus at 365100 tonnes in Jan-Nov 2012
WBMS has said that the calculated market surplus for primary aluminium for January to November 2012 was 365100 tonnes which follows a surplus of 1.88 million tonnes recorded for the whole of 2011. Global Aluminium production in January to November 2012 rose by 901000 tonnes from the same period in...
Chinese Aluminum Plate/Strip/Foil stock increased according to 50% enterprises
According to the survey of aluminum plate/strip/foil enterprises data, 50% enterprises said stock was increased when compared with last month, 30% enterprises said stock was decreased, while 20% said stock was unchanged. Near the end of year, in order to deliver goods in time after holidays, some...
Rio Tinto charge underlines weak outlook for aluminum
Rio Tinto's latest write-down of its aluminium assets supports our view that weak pricing and net market surpluses are likely to continue for at least the next two years, pressuring producer profitability, Fitch Ratings says. The charge of between $10bn and $11bn is not a surprise given the state...
LME aluminum should fluctuate between USD 2,040-2,070/mt on 18th Jan: SMM Morning Review
The US housing starts surged 12.1% in December, the highest since June 2006. Meanwhile, the US weekly jobless claims ending January 12 tumbled to 335,000, the lowest since January 2008. The boom in property sector and job market pushed US stock market and commodity prices up. However, Philadelphia...
LME aluminum should fluctuate between USD 2,030-2,060/mt on 17th Jan: SMM Morning Review
The World Bank lowered its forecast for global economic growth overnight, turning investors away from risky assets and sending the US dollar index up. LME aluminum prices dipped to USD 2,031.8/mt during the European session, extending losses for four trading days in a row, but still found strong...
