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...
Grow with
AL Circle
Growth in metals shipments decelerates in June
Service center shipments in the US and Canada for both steel and aluminum increased from 2010 levels but the rate of growth slowed significantly. Inventory levels decreased in the US but increased slightly in Canada. 1. Aluminum Product Activity 134,300 tonnes of aluminum products were shipped by...
Aluminum Stockpiles Rise the Most in Two Months on Detroit Gain
Aluminum inventories monitored by the London Metal Exchange rose the most in more than two months on increases in Detroit. Stockpiles rose 12,200 metric tons, the most since May 17, to 4.42 million tons, exchange data showed today. Detroit stockpiles increased 24,075 tons to 1.16 million tons....
East China Aluminum: Unwillingness to Sell Strong Among Bullish Goods Holders
Traded prices of spot aluminum in Shanghai on July 19 were RMB 17,750-17,780/mt, with premiums of positive RMB 60-80/mt over SHFE current-month aluminum contract prices. Low-iron aluminum was traded between RMB 17,780-17,820/mt. Traded spot aluminum prices in Wuxi were between RMB 17,750-17,780/mt....
LME Establishes Aluminum Load Out Rule – New Buying Strategies Needed?
Late last week the London Metal Exchange announced a rule change impacting any warehouse holding over 900,000 tons of inventory. The new rule would require those warehouses, beginning in April of next year, to load out a minimum of 3000 tons per day rather than the current 1500 tons per day. The...
SMM Morning Review – 2011/7/18 Aluminum Market
On July 15, the US Department of Labor announced that June CPI was down 0.2% MoM, worse than the expected 0.1%. Later US FED announced June industrial production growth was 0.2%, lower than the expected 0.3%. As weak US economic data and spreading European debt crisis dampened investor risk...
ALUMINIUM-Major market developments in June
STOCKS Total exchange stocks were at 4.743 million tonnes at the end of June, equating to around 39 days of demand. Of the end June total, some 4.488 million tonnes were held in LME warehouses, down from 4.691 million a month earlier. LME inventories reached a record high of 4.712 million tonnes...
ALUMINIUM-Major market developments in June
Aluminium prices lost ground in June and while they may drift lower as demand softens for seasonal reasons, the market is expected to hold firm in coming months even though it is on course for another year of supply surplus. "Demand has slackened a bit, but we expect it to accelerate after the...
Aluminum Warehouse Withdrawal Orders Advance on Jump in Toledo
Orders to draw aluminum from warehouses monitored by the London Metal Exchange advanced for the first time in nine days on a jump in Toledo, Ohio. The orders, known as canceled warrants, rose 2,550 metric tons to 384,550 tons, exchange data showed today. The bookings at Toledo jumped 10,125 tons....
LME Aluminum Stockpiles Fall Further as Metal Climbs in Japan
Aluminum stockpiles monitored by the London Metal Exchange declined for a 35th day. Inventories of the lightweight metal fell 6,275 metric tons to 4.42 million tons, LME data showed today. They are at the lowest level since Jan. 12, falling 4.2 percent in June, the biggest monthly decline since...
Aluminum fundamentals make current prices 'attractive'
Global aluminum fundamentals, such as output costs, inventory trends, scrap and secondary demand and primary aluminum output challenges, are sending signals of “attractive value” at current prices, says Harbor Intelligence. Analysts see limited downward moves from current levels and “high odds not...
Aluminum fundamentals make current prices 'attractive'
Global aluminum fundamentals, such as output costs, inventory trends, scrap and secondary demand and primary aluminum output challenges, are sending signals of “attractive value” at current prices, says Harbor Intelligence. Analysts see limited downward moves from current levels and “high odds not...
UPDATE 1-Japan June aluminium stocks up 1.4 pct m/m
Aluminium stocks held at three major Japanese ports inched up in June from May, reflecting sluggish domestic demand and slowing deliveries from ports, trading house Marubeni Corp said on Wednesday. Aluminium stocks rose to 228,600 tonnes at the end of June, up 3,200 tonnes or 1.4 percent from a...
UPDATE 1-Japan June aluminium stocks up 1.4 pct m/m
Aluminium stocks held at three major Japanese ports inched up in June from May, reflecting sluggish domestic demand and slowing deliveries from ports, trading house Marubeni Corp said on Wednesday. Aluminium stocks rose to 228,600 tonnes at the end of June, up 3,200 tonnes or 1.4 percent from a...
Seven-Month Wait for Aluminum From Detroit Drives LME to Review Warehouses
When the London Metal Exchange was founded in the days of steamships, contracts were priced three months out to reflect the time it took to get tin from Southeast Asia or copper from Chile. These days, it can take twice as long to get aluminum out of an LME-approved warehouse in Detroit. The...
Seven-Month Wait for Aluminum From Detroit Drives LME to Review Warehouses
When the London Metal Exchange was founded in the days of steamships, contracts were priced three months out to reflect the time it took to get tin from Southeast Asia or copper from Chile. These days, it can take twice as long to get aluminum out of an LME-approved warehouse in Detroit. The...
Aluminum Stockpiles Extend Declines, Driven by U.S. Withdrawals
Aluminum inventories monitored by the London Metal Exchange fell to a six-month low, driven by declines in the U.S. Inventories of the lightweight metal fell for a 34th session, dropping 6,500 metric tons to 4.42 million tons, exchange data showed today. They are at the lowest level since Jan. 12....
DJ China Aluminum Stocks On The Decline; Prices May Test Highs In 3Q
China's aluminum stocks have fallen sharply since reaching a record in early March, and if the trend continues, prices could exceed highs seen in February, industry participants said. Higher Chinese prices could undergird global prices, as the country accounts for 40% of global aluminum...
Aluminum Spot Inventories in China (2011-7-11)
SHANGHAI, Jul. 12 (SMM) -- Aluminum Spot Inventories in China (unit: 10 kt) Date Shanghai Wuxi Nanhai Total July 7th 22.0 7.2 8.4 37.6 July 11th 21.5 7.4 8.4 37.3 Changes on a Weekly Basis (%) -0.5 +0.2 0.0 -0.3
