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 move between USD 1,860-1,895/mt: SMM Morning Review
The decline of China’s trade and loans data for July as well as the US Import Price Index increased market concerns over the slowdown of the global economy. In response, total positions of LME aluminum surged 8,402 lots due to short selling. LME aluminum slipped below all moving averages to a low...
Japanese aluminium stocks up 0.9 pct in July
Aluminium stocks held at three major Japanese ports stood at 235,100 tonnes at the end of July, up 0.9 percent from 232,900 tonnes a month earlier, trading house Marubeni Corp said on Friday. The stocks at the end of July were up 15.5 percent from 203,500 tonnes in the same month in 2011. Marubeni...
LME aluminum should move between USD 1880 - 1900/mt: SMM Morning Review
The release of China’s July CPI and PPI on Thursday raised hopes for further easing monetary policy in China, but whether or not it will be delivered in the short term is hard to tell. The unexpected decline in the US weekly jobless claims pushed up LME aluminum briefly during the European trading...
Aluminum Bookings shoot up at Trafigura unit's UK warehouses
Commodities trading house Trafigura is the latest company to start allowing queues for metal to grow in warehouses monitored by the London Metal Exchange (LME), a practice critics say has tarnished the exchange's role as market of last resort. Latest inventory data from the LME showed that 47,700...
LME aluminum should move between USD 1,890-1,930/mt: SMM Morning Review
Germany’s industrial output fell overnight and DBRS downgraded Spain and Italy’s credit rating, weighing on the euro. Investors are staying cautious as they are awaiting China’s CPI for July to be released on Thursday. LME aluminum regained USD 1,900/mt during the European trading session to a high...
LME aluminum should move between USD 1,880-1,915/mt: SMM Morning Review
Market expectations were running high overnight that the ECB may deliver easing policies soon, pushing LME aluminum to break through the 30-day moving average to a high of USD 1,913/mt during the European trading session. However, as the US dollar index held firm at 82, LME aluminum pared gains at...
LME aluminum should move within USD 1,860-1,890/mt: SMM Morning Review
Market confidence was greatly boosted, as markets were digesting the positive US nonfarm payrolls and as the big drop of bond yields of Spain and Italy helped cut borrowing costs in the two countries. The US dollar index tested support at 82, pushing LME aluminum to rebound. LME aluminum broke...
LME aluminum should move within a price range of USD 1,850-1,875/mt: SMM Morning Review
The US nonfarm payrolls for July released last Friday surged 163,000, beating forecasts and boosting market confidence. As a result, the US dollar index pared early gains, down by 1.20%. LME aluminum gained more momentum for a rebound during the European trading session to touch a high of USD...
LME aluminum to move within USD 1,885-1,910/mt: SMM Morning Review
The markets were eyeing the interest rate meeting by the Fed and ECB overnight, raising high expectations on whether the ECB would deliver concrete measures to solve the debt crisis. The July Chicago PMI index and CCI by the Conference Board released later beat forecasts. However, Germany rejected...
LME aluminum should struggle between USD 1,885 to1,910/mt: SMM Morning Review
The Fed and ECB will hold interest rate meeting later this week, raising expectations for loose policies again. Investors stayed cautious ahead of the soon-to-be-released important economic data form China and the US, causing LME aluminum to move narrowly overnight. LME found support at the 5-day...
LME aluminum should struggle within USD 1,885-1,910/mt: SMM Morning Review
The rebound in euro last Friday and the far-better-than-expected GDP in 2Q in the US pushed LME aluminum to extend gains during the European trading session. LME aluminum regained USD 1,900/mt at the tail of trading, but met strong resistance at the 20-day moving average. Coupled with trading...
GSM Aluminium opts for IRIS Exchequer accounts software
GSM Aluminium has selected IRIS Exchequer accounts software to maintain greater control of their stock and finances. GSM Aluminium Ltd. is a solution driven supplier of bespoke extruded, drawn & fabricated aluminium profiles. Established in Yorkshire since 1992, they provide a wide range of...
World unwrought aluminum stocks down 105,000 mt from May
Global unwrought aluminum inventories at the end of June fell 105,000 mt from May and 137,000 mt from June 2011, according to figures that the International Aluminium Institute released Thursday. Unwrought inventories totaled 1.326 million mt at the end of June, down from a revised 1.431 million mt...
LME aluminum to move between USD 1,850-1,880/mt: SMM Morning Review
Spain’s continually climbing borrowing costs, which has stirred worries that the nation may need all-round aid, and reports of manufacturing contractions in both the U.S. and Europe overshadowed the rebound of HSBC China Manufacturing PMI. LME aluminum closed down USD 8.5/mt or 0.45% at USD...
Aluminium Importers Stocking Up on aluminium
From the soda can you hold in your hand, to the building in which you stand in, materials made from aluminum are all around us. The aluminum industry, and the metal industry in general, play an important role in determining the strength of the manufacturing and construction sectors in an economy....
LME aluminum should move between USD 1,915-1,950/MT: SMM Morning Review
The US dollar index was pressured at 83 as a string of weak economic data from the United States – new unemployment claims climbed sharply, NAR existing home sales dropped 5.4% after seasonal adjustment, the Philadelphia Fed manufacturing index weakened further to negative 12.9 – and increasing...
S&P lowers aluminum price assumption for 2012 second quarter to $1,980/mt
Standard & Poor's Ratings Services has lowered its price assumption for aluminum to $0.90/lb ($1,980/mt) for the rest of 2012, from $0.95/lb ($2,090/mt) in January, the company said last Thursday in a report. S&P attributed the move to an 11% decline in aluminum spot price since January, which it...
The light metal rebounded to USD 1,886/mt after a new low of 1,865.5/mt: SMM Morning Review
Caution towards China’s second-quarter GDP data had fueled worries that consumption has remained sluggish so far, pushing the US dollar index to 83.829, a new high of this year. LME aluminum prices slipped quickly to USD 1,865.5/mt, a new low of this month. Bearishness slightly eased later,...
