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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LME aluminum inventories jump more than 100000 tonnes
Aluminum inventories fell 8,700 tonne. On the LME, there was another huge increase in aluminum inventories of 104,000 tonne due again to a large delivery into Vlissingen. This large increase has not weighed on prices.
LME aluminium inventories jump more than 100Kt
Prices sold-off sharply yesterday and remain at lower levels this morning. Sentiment has taken another turn for the worst with bearish sentiment becoming increasingly engrained. SHFE stock data surprised by showing a draw of 8.8Kt in copper, which we believe also goes alongside draws in bonded...
MCX Aluminium outperforms as inventory declined
Aluminium was the top gainer of the day as the metal surged more than 2 percent on the LME as well as on the MCX from beginning of the week. Aluminium rose above 109 rupees per kilogram after opening edge higher at 108.35 rupees. Aluminium sustain above 107 that is very good indication for buying...
Aluminium Undeterred In The Mid Session Trades
Aluminium was undeterred in the mid-session trades. The lackluster session in the metals continued even after the inventories showed a downtrend on Wednesday. The Aluminium inventories in London metal exchange declined by 7100 tons to 4572250 tons. MCX Aluminium was seen trading at Rs. 106.9 per...
Aluminum Waiting Times May Lengthen in Malaysia as Orders Jump
Obtaining aluminum from London Metal Exchange warehouses in Johor, Malaysia, may take longer after orders to draw the metal from local stocks jumped to the highest level in more than seven years. Orders to draw aluminum from Johor warehouses, known as canceled warrants, jumped 19,350 metric tons,...
Jump In Inventories And Slowdown In Europe Deteriorate Aluminium
A sharp rise in inventories on Tuesday and slowdown news of GDP in Europe led to a sharp decline in Aluminium prices on MCX. The inventories gained by 21675 tons to 4579350 tons on London Metal Exchange. The metal inventories have gained 3% since 1 August.
SMM Aluminum Price Forecast (Aug. 15-19)
Last week, SHFE aluminum prices fell initially, but rebounded later in the week. SHFE 1110 aluminum contract prices fell continuously early in the week to RMB 16,425/mt given bearish market sentiment, but later rallied to the 60-day moving average, supported by low spot aluminum inventories and...
SMM Daily Review - 2011/8/15 Base Metals Market
Market optimism towards the talk between German Prime Minister Merkel and French president Sarkozy on solving the euro zone debt crisis led the euro surge overnight to above the 1.44 mark, which finally closed at 1.4437, up 1.35%. US stock prices also rose in response, and the US dollar index fell...
SMM Morning Review - 2011/8/16 Aluminum Market
Market optimism towards the talk between German Prime Minister Merkel and French president Sarkozy on solving the euro zone debt crisis led the euro surge overnight to above the 1.44 mark, which finally closed at 1.4437, up 1.35%. US stock prices also rose in response, and the US dollar index fell...
Rise in LME aluminum inventories does not accelerate weakness
Aluminum prices have held their ground “reasonably well” lately as other base metals fell more sharply, and the latest big rise in LME stocks did not accelerate the fall in prices, Commerzbank says. Wednesday marked the sharpest rise in LME stocks ever for aluminum, with over 185,000 metric tons...
High aluminium premiums underpinned by stock build in Europe
Record-high aluminium premiums have been further reinforced after stocks in Pacorini’s London Metal Exchange-listed warehouses in Vlissingen jumped massively again on Wednesday.
Aluminium semis production continues to grow strongly y/y
Prices have received something of a fillip rising this morning from Tuesday’s close. A strong set of Chinese economic data together with strong metals-specific data has boosted sentiment. Unwrought Aluminium exports meanwhile rose by 39% m/m and by 19% y/y to 82Kt marking the strongest export level...
LME Aluminium Stocks Jump in Vlissingen
The Dutch port of Vlissingen registered the biggest single-day influx of aluminium into London Metal Exchange warehouses ever, data showed on Wednesday, and traders suggested Glencore was delivering metal partly to free up capital as a storage rent deal ends.
Japan July Aluminium Stocks Down 11 pct m/m
Aluminium stocks held at three major Japanese ports fell 11 percent in July from a month earlier due to slowing imports, trading house Marubeni Corp said on Thursday. Marubeni, which collects data from the key ports of Yokohama, Nagoya and Osaka, said aluminium stocks at the ports came to 203,500...
Shanghai Copper Inventories Rise Fourth Week; Aluminum Drops
Copper stockpiles monitored by the Shanghai Futures Exchange increased for a fourth week, while aluminum inventories declined to a 26-month low. Aluminum inventories decreased for a 21th week, losing 23,585 tons to 158,130 tons, the lowest level since June 2009, according to a survey of 20...
SMM Daily Review – 2011/8/5 Aluminum Market
Due to plunging commodity prices overnight, most active SHFE 1110 aluminum contract prices opened lower at RMB 17,800/mt on August 5th. Within ten minutes after opening, most active SHFE aluminum contract prices fell and stopped at RMB 17,485/mt, down RMB 730/mt or 4% with positions falling by over...
Shanghai Copper Inventories Rise Fourth Week; Aluminum Drops
Copper stockpiles monitored by the Shanghai Futures Exchange increased for a fourth week, while aluminum inventories declined to a 26-month low. Aluminum inventories decreased for a 21th week, losing 23,585 tons to 158,130 tons, the lowest level since June 2009, according to a survey of 20...
SMM Morning Review – 2011/8/4 Aluminum Market
US ISM said on August 3rd its non-manufacturing index fell from June’s 53.6 to 52.7 in July, a new low since February 2010 and lower than the expected 53.6. US Department of commerce announced US June factory orders fell by 0.8%, higher than the expected 0.7%, and adjusted June durable goods orders...
