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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Aluminum Stockpiles Fall to Six-Month Low, LME Data Shows
Aluminum inventories monitored by the London Metal Exchange declined to the lowest level in six months, falling for a 33rd session on worldwide declines. Inventories of the lightweight metal declined 8,900 metric tons to 4.43 million tons, exchange data showed today. They are at the lowest level...
SMM Daily Review - 2011/7/4 Aluminum Market
On Monday, SHFE 1109 aluminum contract prices, the most actively-traded one, opened slightly higher at RMB 17,300/mt. After price consolidations, SHFE three-month aluminum prices edged up to test RMB 17,400/mt, but met strong resistance to move higher. Finally, the aluminum contract for three month...
South China Aluminum: Prices and Purchases Both Increase, Market Sentiment Active
Though it was hard for most actively-traded SHFE aluminum contract price to break RMB 17,400/mt, the continuously dropping spot aluminum inventories still led aluminum quotes among South China traders to new highs, with mainstream traded prices falling between RMB 17,560-17,600/mt. Downstream...
Aluminum Stockpiles Fall for 26th Session on Worldwide Decline
Aluminum stockpiles tracked by the London Metal Exchange fell for a 26th session, dropping in warehouses from the U.S. to Malaysia. Inventories of the lightweight metal slid 10,300 metric tons to 4.50 million tons, the lowest level since Jan. 20, LME data showed today. The streak of declines is the...
Aluminum Alloy Stockpiles Reach Nine-Year High on Asian Gains
Aluminum alloy stockpiles tracked by the London Metal Exchange rose to the highest level in more than nine years, while inventories of primary aluminum extended their drop to the longest in almost seven years. Stocks of aluminum alloy, used to make parts for car engines, increased 1,960 metric tons...
Aluminum Stockpiles Have Longest Drop in Six Years Led by Asia
Aluminum inventories extended their longest decline to six years led by removals in Asia. Aluminum inventories in warehouses monitored by the London Metal Exchange fell 10,000 metric tons, or 0.2 percent, to 4.52 million tons, the lowest since Jan. 31. That was the 24th consecutive drop, the...
Unwrought Aluminium Stocks 1.573 Mln T in May - IAI
Western world unwrought aluminium stocks rose to 1.573 million tonnes in May compared with a revised 1.537 million in April, industry data showed on Monday. Unwrought stocks stood at 1.303 million tonnes in May 2010, provisional data from International Aluminium Institute (IAI) figures showed....
Unwrought Aluminium Stocks 1.573 Mln T in May - IAI
Western world unwrought aluminium stocks rose to 1.573 million tonnes in May compared with a revised 1.537 million in April, industry data showed on Monday. Unwrought stocks stood at 1.303 million tonnes in May 2010, provisional data from International Aluminium Institute (IAI) figures showed....
Aluminum Stockpiles Fall for 23rd Session on Worldwide Decline
Aluminum inventories tracked by the London Metal Exchange dropped for a 23rd session, declining in warehouses around the world. Stockpiles of the lightweight metal fell 11,475 metric tons to 4.53 million tons, daily exchange figures showed. That was the lowest level since Feb. 4. Declines were...
Aluminum inventories decrease in London exchange
Commodity reported that aluminum inventories nose dived yet again on London Metal Exchange today. The inventories saw a decline of 10825 tonnes on LME to 4544725 tonnes. Since beginning of June the inventories have declined by 3.12% from 4691450 tonnes. During this period the prices of 3 month...
Aluminium win not saying muchr vows to avoid troubl
AMONG the base metals, tin was the star of 2010. So far in 2011, the unlikely winner is aluminium. Yes, the same metal who stockpiles in London Metal Exchange warehouses now stands at 4.55 million tonnes, and which fell heavily last night in sympathy with oil. So aluminium is the best base metals...
Analysts Predict Higher Prices for Aluminum
Analysts at Harbor Intelligence’s Annual ‘Aluminum Outlook Conference’ are predicting stable to higher aluminum prices on the year. Despite high inventories of aluminum in warehouses, the analysts agree that demand growth and a looming supply issues in China will move the price higher. A poll of...
Aluminum future may uplift on weak inventory data
Commodity reported that aluminum MCX June contract traded with positive node and settled 0.13% up at 113 taking into account negative inventories from past few days and on news that Greece took further steps not to default and to get additional bailout package from European Union and International...
Aluminum’s Premium Gains Being Fueled by LME Warehouse Rules, Harbor Says
London Metal Exchange rules are creating delivery bottlenecks for aluminum that are boosting prices and causing seven-month delays at Detroit warehouses, commodity researcher Harbor Intelligence said. Warehouses monitored by the LME, the world’s largest metals exchange, are obliged to deliver a...
Aluminium service centre shipments in US and Canada continue to grow
May aluminium shipments from US metals centres totalled 127,400 tonnes or 31.4% more aluminium than in May 2010. For the year to date, shipments of aluminium totalled 629,300 tonnes or 27.8% more volume of the metal than last year. Month end aluminium inventories of 362,900 tonnes were 29.4%...
Aluminium service centre shipments in US and Canada continue to grow
May aluminium shipments from US metals centres totalled 127,400 tonnes or 31.4% more aluminium than in May 2010. For the year to date, shipments of aluminium totalled 629,300 tonnes or 27.8% more volume of the metal than last year. Month end aluminium inventories of 362,900 tonnes were 29.4%...
LME year end aluminium stocks over 4 million tonnes - UC Rusal
Reuters reported that UC Rusal expects no significant fall in London Metal Exchange warehouse aluminium stocks currently well above 4 million tonnes by the end of 2011. Mr Steve Hodgson CEO of the Russian aluminium producer's marketing unit said that “It is interesting that we saw stocks peak at a...
Aluminum declines on weak demand
Commodity reported that Chinese aluminum prices may be capped by record production and weaker demand over the coming two months as new capacity comes online which could lead to a boost semi-finished product exports. According to a survey of 20 warehouses in Shanghai, Guangdong, Jiangsu and Zhejiang...
