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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SMM Morning Review - 2011/1/19 Aluminum Market
... LME aluminum prices opened higher at USD 2,468/mt, and later lost some gains as other base metals prices fell, and finally closed at USD 2,450/mt, up USD 15/mt compared with the previous trading day, or up 0.61%. LME aluminum inventories increased by 30,625 mt to 4,461,975 mt. ...
SMM Morning Review - 2011/1/14 Aluminum Market
... LME aluminum market slipped all the way and hit the lowest at USD 2,480/mt after prices opened at USD 2,505/mt, and rebounded at the tail of the trading to close at USD 2,487/mt, down by USD 17/mt from a day earlier. LME aluminum inventories were up by 26,600 mt to 4,434,950 mt, the highest...
UPDATE 1-Japan Dec Aluminium Stocks up 6.5 Pct m/m
... Aluminium stocks held at three major Japanese ports came to 223,600 tonnes at the end of December, rising for the first time since August, trading house Marubeni Corp (8002.T: Quote) said on Wednesday. ....
SMM Morning Review - 2011/1/13 Aluminum Market
... LME aluminum prices climbed gradually after opening at a low of USD 2,488/mt, with prices hitting a high of USD 2,521/mt and closing at USD 2,504/mt, up USD 7/mt compared with the previous trading day, or up 0.28%. LME aluminum inventories continued to increase by 14,650 mt to 4,408,350 mt. ...
Huge Built Up Seen In LME Aluminium Inventories
... Huge built up was seen in LME Aluminium inventories released on Monday. The total inventories of Aluminium are now at 4369500 tonnes, on 10 dec 2010. The inventories increased by 97100 tonnes from 4272400 tonnes on 7 dec 2010. ...
Base metals ends higher on global cues
... Aluminium prices on LME ended higher by 0.6 percent however stronger rupee limited the gains in Indian market. Aluminium stocks on London Metal Exchange witnessed draw-downs of 3,550 tonnes as against build-up of 8,025 tonnes on the previous day. On a weekly basis, stocks rose by a modest 1,775...
SMM Morning Review - 2010/12/31 Aluminum Market
... LME aluminum prices fluctuated at high levels, and opened at USD 2,448/mt, and later hit a high of USD 2,458/mt and closed at USD 2,454/mt, down USD 1/mt compared with the previous trading day. Positions fell by 3,674 lots, while LME aluminum inventories increased by 8,025 mt to 4,280,600 mt....
DJ IAI: Nov World Aluminum Stocks Down 79,000 Tons On Month
... Total world aluminum inventories in November fell 79,000 metric tons to 2.373 million tons, according to figures released Wednesday by the International Aluminum Institute. ... Last month's figure is up 189,000 tons from the November 2009 inventory figure of 2.184 million tons. ...
Unwrought Aluminium Stocks 1.249 in Nov - IAI
... Western world unwrought aluminium stocks fell to 1.249 million tonnes at the end of November 2010, compared with 1.334 million tonnes in October, industry data showed on Wednesday. Unwrought stocks stood at 1.125 million in November 2009, provisional International Aluminium Institute (IAI)...
SMM Morning Review - 2010/12/30 Aluminum Market
... LME aluminum prices. LME aluminum prices opened higher at USD 2,447/mt, and later fluctuated higher and finally closed at an intraday high of USD 2,455/mt, up USD 25/mt compared with the previous trading day, or up 1%. Positions fell by 2,971 lots, while LME aluminum inventories fell by 2,700...
Aluminum smelters in China face winter power shortage
... According to Macquarie Group Ltd, aluminum smelters in China may face a “critical shortage” of power that prevents them from ramping up output in the first quarter of 2011, helping to buoy prices as stockpiles decline further. ... The report said that the power curbs led to a drawdown in...
SMM Morning Review - 2010/12/24 Aluminum Market
... LME aluminum prices ended the upward trend last night, and fluctuated lower gradually after opening at an intraday high of USD 2,450/mt, and finally closed at USD 2,432/mt, down USD 30/mt compared with the previous trading day. Positions increased significantly by 22,881 lots, and LME aluminum...
SMM Morning Review - 2010/12/23 Aluminum Market
... LME aluminum prices climbed gradually after opening at USD 2,455/mt, and later kept fluctuating at high levels, and finally closed at USD 2,462/mt, up USD 27/mt compared with the previous trading day, or up 1.1%. Positions increased by 1,008 lots, and LME aluminum inventories fell further by...
SMM Morning Review - 2010/12/22 Aluminum Market
... LME aluminum prices opened at USD 2,392/mt, and later climbed steadily to break the USD 2,400/mt mark, and finally closed at USD 2,435/mt, up USD 57/mt compared with the previous trading day. LME aluminum inventories fell further by 3,325 mt to 4,279,575 mt. Today, ...
SMM Morning Review - 2010/12/21 Aluminum Market
... LME aluminum prices opened at USD 2,338/mt, and later rallied steadily, with prices finally closing at USD 2,378/mt, up 1.84%. LME aluminum inventories fell by 4,700 mt to 4,282,900 mt. SHFE aluminum prices opened slightly higher today, ...
Aluminum trades sluggish ahead OF LME stockpile concern
...Aluminum declined as few investors sold the metal to lock in gains after it climbed to a record yesterday, and as the appeal of commodities as alternative investments got diminished by a stronger dollar...
Heavy Rise In Aluminium Inventories
...Aluminium has registered a heavy rise in inventories during last two days. The inventories on London metal exchange have appreciated by 21550 tonnes since 13 Dec 2010 to 4293925 tonnes. The increase in inventories is the resultant of lower offtake of the metal at the year-end. Today, stockpiles...
SMM Morning Review - 2010/12/16 Aluminum Market
.... LME aluminum prices slipping all the way from USD 2,335/mt after opening and finally closing at USD 2,321/mt, down by USD 30/mt or 1.28% from a day earlier. LME aluminum inventories continued to increase significantly by 10,325 mt on delivery data. ...
