Macro rate hike expectations bring periodic pressure, while destocking in China provides solid bottom support
Futures: The most-traded SHFE aluminium contract opened at RMB 24,310 per tonne in the night session on September 10, reached a high of RMB 24,310 per tonne and a low of RMB 24,075 per tonne, and closed at RMB 24,125 per tonne, down RMB 365 per tonne or 1.49 per cent from the previous close....
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...
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World primary aluminium stock to see record volume in 2012
Primary aluminium inventory registered to London Metal Exchange could increase in 2012 after the stock hit record 4.95 million tonnes now. Japanese trading firm sources see the stock would reach 5 million tonnes depending on world economy. A trading firm source sees aluminium suppliers keep selling...
East China Aluminum: Trading Cools ahead of Holiday
Traded prices of spot aluminum in Shanghai were between RMB 15,990-16,030/mt on Tuesday, with discounts of RMB 10-40/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,080-16,100/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB...
East China Aluminum: Transactions Improve with Downstream Replenishment by Year End
Traded prices of spot aluminum in Shanghai were between RMB 16,000-16,040/mt on Friday, with discounts of RMB 10-50/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,080-16,090/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB...
ALUMINIUM-Major market developments in November
Aluminium prices lost ground in November and while persistent demand worries will weigh on sentiment, production cuts will limit further declines. "A lot of the industry is under pressure because of these low prices, so there's going to be a lot of support if prices fall further, there's not that...
Aluminium shipment in November down slightly from October
November service center shipments grew at slightly slower rates for both steel and aluminum in the US and Canada. Steel inventory levels declined in the US and Canada from last month. US Service Center Activity 120.8 thousand tons of aluminum products were shipped by US service centers in November,...
Aluminum LME Inventories Balloon to Record High – Part One
LME aluminum inventories have been skyrocketing in recent days, leading some to speculate that falling demand is creating a massive surplus. They may be right; even Andy Home, Reuters columnist and usually a good interpreter of the workings of the LME and related physical trading, wrote an article...
Shanghai Metals Market Morning Review – 2011/12/20 Aluminum Market
Worries towards the euro zone debt crisis led to a struggle of the euro at 1.3 US dollar and in contrast helped the US dollar index consolidate above 80. As Christmas nears, more investors chose to close their positions on risk concerns. Due to weak consumption, the LME aluminum stock surged...
South China Aluminum: Stalemate between Buyers and Sellers Suppresses Price Increase
The most active SHFE aluminum contract price fluctuated narrowly around the daily moving average on Monday and met strong resistance at RMB 15,800/mt level. Accordingly, spot prices in South China market edged up slightly, but downstream buyers were not actively buying at higher prices, so increase...
China Auto Sales Decline 2.4% In November
Already troubled Aluminium markets due to rise of inventories will find tough to maintain a stable trend after the news that China auto sales declined by 2.4% in the month of November. China produced a total of 1695000 vehicles in November and sold a total of 1656000 vehicles. The first 11 months...
Metals Shipments in North America
U.S. service centers shipped 128.0 thousand tons of aluminum products in October 2011, up 10.3% from October 2010. Year-to-date, 2011 aluminum shipments were 1,271.2 thousand tons, up 16.1% from the first 10 months of 2010. Aluminum products inventories at the end of October 2011 were 358.2...
South China Aluminum: Transactions Become Active over Limited Supply
SHFE aluminum prices rebounded for the second day on Friday, boosting buyers in South China to purchase at lower prices. Cargo holders were not willing to move goods due to insufficient spot aluminum inventories in South China, pushing prices up slightly. Mainstream transactions were done at RMB...
Aluminum Glut at Record as Traders Bet on Price Decline
Aluminum stockpiles rose to a record and orders to withdraw metal from warehouses fell to a 15-month low amid speculation traders are adding to bets the commodity will extend its biggest slump since the global recession. Inventories monitored by the London Metal Exchange rose 2 percent to 4.81...
Barclays: Heavy selling in LME aluminum leaves it vulnerable to short covering rally
Base metal prices have been falling sharply in recent days as disappointment grows following the EU summit, said Barclays Research in a research note. According to Barclays, aluminum is facing selling pressure with LME open interest still reaching new records highs daily. This leaves aluminum...
Aluminium stocks to hit 5 MT; premiums soften-trade
More large shipments of aluminium are expected to enter warehouses registered by the London Metal Exchange before the year is out, driving stockpiles to a new record above 5 million tonnes and helping to depress premiums, traders said on Tuesday. In November, traders said large inflows were...
Japan end-Nov aluminium stocks down 6 pct -Marubeni
Aluminium stocks at key ports in Japan totalled 221,500 tonnes at the end of November, down 6 percent from the month before, trading house Marubeni Corp said on Tuesday. End-October inventories totaled 235,800 tonnes. Marubeni collects data for the key ports of Yokohama, Nagoya and Osaka.
Long haul for aluminium
Much to the relief of aluminium producers, the white metal has not stayed for long below the psychologically unsettling level of $2,000 a tonne when 30 per cent of smelting capacity is found in the red zone. At no point in current weeks, however, did the scene come anywhere close to the scare that...
Aluminum Association Highlights December 2, 2011
Back in October, we commented that investors were helping to drive aluminium prices lower by reducing their exposure to commodities in general, due to negative sentiment regarding the global economic outlook. Deteriorating market fundamentals in October justified the negative investor outlook....
SMM Morning Review - 2011/12/7 Aluminum Market
LME aluminum was pressured at the 30-day moving average during initial trading hours as Standard & Poor’s downgrade warning for euro zone countries weighed on metals. The market sentiment slight improved later after German manufacturing data came out better-than-expected, which helped LME aluminum...
