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 inventory builds deflate backwardation
Recent increases in LME aluminium warehouse stocks have deflated the backwardation that was in the market, says MF Global. Backwardation is a condition in commodities markets where nearby prices are more expensive than deferred and is generally seen as a sign of supply tightness. “It seems that the...
Primary Aluminium Surplus At 252000 Tonnes In Jan-Mar 2011
Primary Aluminium surplus stood at 252000 tonnes in Jan-Mar 2011 as per the latest report from World Bureau Of Metal Statistics (WBMS). The primary Aluminium markets were in surplus of 348000 tonnes in Jan-Mar 2010. For the full year 2010 surplus of primary Aluminium was 735000 tonnes. Demand for...
Aluminium On warrants Declining In Shanghai
Aluminium on -warrants are declining in Shanghai while inventories in LME has shown rising trend. The inventories of Aluminium are at all time high in LME. Total stocks maintained in LME were 4711875 tonnes up 2% since the beginning of this month. Meanwhile, the on-warrants of Shanghai were 248077...
Aluminum premium spot prices remain at high level in European market
Reportedly, traders indicated that the aluminum premium spot prices after tax have remained at high level in European market due to tight supply. It’s known that the aluminum premium spot prices after tax in Rotterdam are at USD 210 per tonne to USD 240 per tonne recently in comparison of USD 200...
LME aluminium stocks hit record above 5 million tonne
Reuters reported that stocks of aluminum in London Metal Exchange warehouses jumped 22,625 tonnes to hit a record high of 4,710,550 million tonnes. Data showed that a backwardation or premium for the cash contract against the 3 month contract is attracting metal to LME warehouses.
Aluminium rises on active selling
Aluminium yesterday traded with the positive node and settled 0.09% up at 116.15. Some pressure had been seen from the LME stock also which came up by 32075mt, the total stock at LME is now at 4622825mt. LME stocks of aluminium rose by 32,075 tonnes to 4,622,825 tonnes within touching distance of...
Aluminum outperformance driven by higher oil
Despite high inventory levels at the London Metal Exchange, aluminum has managed to outperform other base metals so far in 2011 as spot prices have climbed roughly 13%. Perhaps the most important driver of aluminum’s relative strength is higher oil prices, according to Kenrick Jordan, senior...
SMM Morning Review - 2011/4/29 Aluminum Market
... LME aluminum prices finally closed at USD 2,764/mt, up USD 23/mt compared with the previous trading day. LME aluminum inventories increased by 5,950 mt to 4,612,050 mt. ...
Japan March Aluminium Stocks Down 3.3 pct m/m
...Aluminium stocks held at three major Japanese ports came to 201,200 tonnes at the end of March, down 6,900 tonnes or 3.3 percent from a month earlier, trading house Marubeni Corp said on Wednesday...
Aluminum price may fall as tougher financing hits warehouse stocks: analyst
...Despite strong expected demand growth this year, aluminum prices are likely to see a correction to $2,200/mt in London by the end of the year as interest rates rise, making financing deals less attractive, senior analyst William Adams of basemetals.com said Thursday...
Aluminium zooms on overseas demand
...There was a big oversupply of aluminium, with brimming inventories in LME warehouses. Data showed aluminium headline inventories fell 5,925 tonnes to 4,602,950 tonnes, but remain less than a percent from record highs...
Warehouse deals lift aluminum premium to 9 month high
...Reuters reported that US Midwest spot aluminum premiums rose to 9 month high this week as incentive based financial deals drew more material into warehouses, particularly Detroit where the concentration of deliveries has surged since last year...
Japanese earthquake - Aluminum prices to stabilize
...Affected by Japan's earthquake, the aluminum prices have dropped by USD 127 per tonne to USD 2,426 per tonne in the early last week. However, the prices have turned strong to reach USD 2,536 per tonne in the end of last week due to the low inventory...
Warehouse deals lift aluminum premium to 9 month high
...Reuters reported that US Midwest spot aluminum premiums rose to 9 month high this week as incentive based financial deals drew more material into warehouses, particularly Detroit where the concentration of deliveries has surged since last year...
Aluminium trades up on overseas demand
...Aluminum stockpiles dropped 10,138 tons to an 11-month low of 411,589 tons the exchange said. Some support had been seen from the LME stock also which came down by -6575mt, the total stock at LME is now at 4612825mt...
SMM Morning Review - 2011/3/18 Aluminum Market
... LME aluminum prices opening at an intraday low of USD 2,466/mt but closing at USD 2,520/mt, up USD 53/mt compared with the previous trading day. LME aluminum inventories fell further by 1,050 mt to 4,619,400 mt. ...
US February aluminum shipments outpace Canada; US inventories up: MSCI
... Shipments of aluminum products from US service centers enjoyed double-digit growth in February, while Canadian shipments grew more slowly, the Metals Service Center Institute said Wednesday in its February Metals Activity Report. ...
Unwrought aluminum stocks 1 million tonne in Jan
...Reuters reported that Western world unwrought aluminum stocks rose to 1.468 million tonnes at the end of January 2011 compared with a revised figure of 1.395 million tonnes in December 2010...
