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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Aluminium Starts Monday On A Green Note
...luminium prices started Monday's session on MCX on a green note. Buying in all the metal counters provided the supports. Aluminium inventories since the start of the year have shown declines. In last few days the stockpiles have also declined by huge margins. So far this year inventories are...
SMM Morning Review - 2010/12/14 Aluminum Market
... LME aluminum prices to a high of USD 2,340/mt, and LME aluminum prices lost some gains at the tail of trading and finally closed at USD 2,330/mt, up USD 22/mt compared with the previous trading day. Transactions improved significantly, and total trading volumes were near 300,000 lots. LME...
SMM Morning Review - 2010/12/13 Aluminum Market
... LME aluminum prices fell from an intraday high of USD 2,344/mt to a low of USD 2,308/mt, down USD 30/mt, or down 1.28%. LME aluminum inventories fell by 4,275 mt to 4,274,025 mt. ...
SMM Morning Review - 2010/12/10 Aluminum Market
... LME base metals prices generally closed with declines, and LME aluminum prices fell from a high, and finally closed at an intraday low of USD 2,338/mt, down USD 37/mt compared with the previous trading day, or down 1.56%. LME aluminum inventories fell further by 3,125 mt to 4,278,300 mt. ...
China - Aluminium inventories will be key for prices in coming days
...Aluminium inventories on LME showed marginal correction in last one month. The inventories stood at 4288750 tonnes down 0.33% on December 1st 2010 as against 4303075 tonnes on November 1st 2010. During the same period prices of three month forward Aluminium contract declined by 3.7%. The basis...
SMM Morning Review - 2010/12/9 Aluminum Market
... LME aluminum prices climbed steadily after opening at USD 2,325/mt last night, and finally closed at an intraday high of USD 2,375/mt, up USD 70/mt, or up over 3%. Inflows of speculative funds increased, and positions jumped by over 10,000 lots in response, while LME aluminum inventories...
SMM Morning Review - 2010/12/8 Aluminum Market
... LME aluminum prices, and LME aluminum prices climbed to USD 2,351/mt after opening, but later lost gains and finally closed at USD 2,305/mt, unchanged from a day earlier. Positions increased by 2,085 lots to 729,418 lots, while LME aluminum inventories fell by 4,500 mt to 4,287,225 mt. ...
Aluminium inventories will be key for prices in coming days
...Aluminium inventories on LME showed marginal correction in last one month. The inventories stood at 4288750 tonnes down 0.33% on December 1st 2010 as against 4303075 tonnes on November 1st 2010. During the same period prices of three month forward Aluminium contract declined by 3.7%. The basis...
SMM Morning Review - 2010/12/7 Aluminum Market
... LME aluminum prices were very weak due to significantly increasing inventories and sluggish trading sentiment. LME aluminum prices opened lower at USD 2,304/mt last night, and later climbed slightly to USD 2,314/mt. LME aluminum prices later dipped to a low of USD 2,298/mt when the US dollar...
SMM Morning Review - 2010/12/6 Aluminum Market
... LME aluminum prices opened at USD 2,358/mt, and later slipped steadily to a low of USD 2,318/mt. LME aluminum prices later pared some losses supported by a weaker US dollar, with prices finally closing at USD 2,326/mt, down 1.2%. Positions increased by 3,888 lots, while LME aluminum inventories...
Aluminium Inventories Will Be Key For Prices In Coming Days
...Aluminium inventories on LME showed marginal correction in last one month. The inventories stood at 4288750 tonnes, down 0.33% on 1 Dec 2010 as against 4303075 tonnes on 1 Nov 2010. During the same period prices of three month forward Aluminium contract declined by 3.7%. The basis of decline was...
Aluminium prices may rise 11% by end of fiscal
...Despite higher inventory level of aluminium at the London Metal Exchange (LME), prices of aluminium are set to rise to $2,400-$2,500 a tonne by March 2011 on the back of good demand from various sectors like aviation, transportation, electronics among others...
SMM Morning Review - 2010/12/3 Aluminum Market
... LME aluminum prices still opened higher at USD 2,365/mt driven up by previously weakening US dollar index. The US dollar index briefly rebounded to 81 during the day, and LME aluminum prices dipped slightly to a low of USD 2,348/mt in response, but later rallied again at the tail of trading,...
Rio CEO warns aluminium stocks weighing on market
...Rio Tinto (RIO.AX: Quote) (RIO.L: Quote), the world's biggest aluminium producer, on Monday warned large inventories of aluminium amassed during the global financial crisis were weighing on the outlook for the commodity over the next few years...
Unwrought aluminum stocks 1million tonnes in Oct - IAI
...Reuters reported that Western world unwrought aluminum stocks rose to 1.334 million tonnes at the end of October compared with a revised 1.289 million in September...
Taiwan-based aluminum electrolytic capacitor makers see sales bottom in November and December
...Taiwan-based aluminum electrolytic capacitor makers have indicated that revenue declines will end in November and December as clients finished adjusting their inventory. Looking at the supply side, high-voltage aluminum capacitors are in tight supply due to a shortage of aluminum foil and steady...
Hydro chief executive sees 2-3 million aluminium tonnes unregistered
...An estimated two to three million tonnes of aluminium are held in unregistered inventories world-wide, the Chief Executive of Norsk Hydro told Reuters on Monday. The world's fourth-largest integrated aluminium company has been trying to evaluate how much aluminium is held in unregistered stocks...
State Reserve Bureau to sell aluminum ingot reserves
...China's State Reserve Bureau, which is part of the National Development and Reform Commission and is responsible for managing strategic material reserves, will sell 117,000 tons of aluminum ingot reserves from Nov. 23 to Nov. 24, according to a statement released by the NDRC...
