LME aluminium price rises to $3,310/t: Can EGA and Alba repairs bring back 2025 levels?
The London Metal Exchange (LME) aluminium price reported improvements across the pricing and contract segments on the September 7 close, recovering from the downward trend reported at the September 4 session . As the repair and operations stabilise at the facilities of Emirates Global Aluminium...
LME aluminium offer price slips to $3,292.5/t as lower exchange stocks point to tighter availability
LME aluminium prices edged lower on September 4 compared with the previous trading day, while aluminium stocks also declined marginally. The most notable movement was in cancelled warrants, which fell by more than 38 per cent day on day. On September 4, the LME aluminium cash bid price stood at USD...
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Average A00 aluminium ingot price grows amid inventory hike in China
Primary aluminium inventory in China continued to shrink over the weekend ended on July 30, 2018, as consumption was bolstered by exports despite a low season in the domestic market, Shanghai Metals Market research found. The inventory across eight major consumption areas, including SHFE warrants,...
Smelter hits halt global aluminum production growth: Andy Home
Global aluminum production growth ground to a standstill in the first half of this year. The world’s smelters produced 31.76 million tonnes of metal in January-June, a 1 percent decline on the first half of 2017, according to the International Aluminum Institute (IAI). Expressed in annualized...
LME aluminium feels pressure on rising US dollar despite the ease out of trade war between US and EU; SHFE stays rangebound
The US dollar rose 0.6% last night to close at 94.76 as the euro fell. Base metals inched up for the most part as market worries eased after the US and EU stepped back from a potential trade war and agreed to be at the negotiation table. LME aluminium closed yesterday’s trading at US$ 2054 per...
Sluggish consumption drives billet inventory hike in China four weeks in a row, while alloy price remains same
According to the latest data by Shanghai Metals Market, aluminium billet inventory in China has extended growth over the week ended on July 26, amid low season and sluggish consumption. It has increased by 8,600 tonnes from 70,800 tonnes on last Thursday, July 19, and hovering at 79,400 tonnes...
LME aluminium continues to be under pressure on worries over a trade war; SHFE stays flat
The US dollar dipped to around 94, and closed at 94.19. Base metals were under pressure from ongoing worries over a trade war even though the EU and US declared a ceasefire. LME aluminium fell 0.7% from Tuesday to close at US$ 2056.50 per tonne. The contract jumped after opening overnight, to a...
LME dropped yesterday to close at US$ 2082 per tonne; inventory piles up on prospect of sanction clearance
The US dollar index fell 0.05% to close at 94.58 with pressure from a stronger euro, which was buoyed by robust German economic data. LME base metals rose across the board overnight. After closing yesterday’s trading lower at US$ 2082 per tonne, LME aluminium rallied twice, and hit a high of...
LME aluminium started the week higher and pulled its SHFE counterpart up despite the lackluster market
The US dollar climbed up steadily and closed at 94.62 last night. Most base metals fell for the most part with pressure from a strengthened US dollar. The LME aluminium contract closed at US$2130 per tonne on Monday July 23, up from the last closing. The contract tested pressure at the 20-day...
Higher aluminium prices dampens trading in China spot market; inventory down on fewer smelter deliveries
As aluminium prices surged driven by its LME counterpart, downstream consumers in the east and south China spot aluminium markets held back from purchasing on Monday July 23, Shanghai Metal Market said. This accounted for sluggish trades across the regions. The average A00 aluminium ingot price in...
Aluminium inventory hike sidelines traders in east China resulting in price drop
With the growing primary aluminium social inventories in China, spot market traders in the east stood on the sidelines yesterday, July 19, in anticipation of larger spot discounts, Shanghai Metals Market found. The SHFE 1808 contract came off from its initial increase and traded range-bound within...
LME aluminium contract closed a little higher, likely to stay rangebound on ongoing US-China trade conflicts
The US dollar index fell from one year's high and closed at 95.09, slightly up from Wednesday. Base metals dipped across the board on ongoing trade conflicts between China and the US. After diving down the day before, LME aluminium contract closed a little higher at US$ 2062 per tonne yesterday....
Season lull in China results in aluminium billet inventory hike: alloys price remains unchanged
Backed on narrow consumption by downstream consumers, inventories of 6063 aluminium billet in China have extended their growth across five major consumption areas. Over the weekend ended on Thursday, July 19, they have increased by 2,300 tonnes to reach at 70,800 tonnes, as shown by Shanghai Metals...
LME aluminium dived to a low of US$2,040 per tonne; SHFE to remain rangebound
The US dollar index inched down from a three-week high but still stood above the 95 level and closed at 95.09. Base metals mostly consolidated at low levels. As longs exited at highs, LME aluminium dived to a low of US$2,022 per tonne during the European trading session after touching US$2,045 per...
Both LME and SHFE aluminium lost on the impact of trade war and slower growth in Chinese consumption
Base metals saw mixed trading on the impact of trade war and slower growth of China's economy. LME aluminium lost 1.5%. The light metal contract traded within a broad range overnight with support at the five-day moving average and resistance at the 10-day one. It closed at US$2,031.5 per tonne...
Primary aluminium price in China shows restraint after a hike on the previous day
After registering a slight hike on July 17, from RMB 13870 per tonne to RMB 13910 per tonne, A00 aluminium ingot spot price decided to show restraint today, July 18, according to Shanghai Metals Market. The average prices ranged between RMB 13890 per tonne and RMB 13930 per tonne, with no change in...
China’s primary inventory rise over the weekend results in A00 aluminium ingot price fall
After an incessant fall over the past ten consecutive weeks, China’s inventory of primary aluminium across eight major markets, including SHFE warrants, inched up 17000 tonnes over the weekend ended on July 16, 2018, to stand at 1.82 million tonnes, Shanghai Metal Market data showed. On last...
Operating rate of secondary aluminium in China edged down in June: SMM reports
Shanghai Metals Market studied that multiple hindrances relating to environmental problems, additional tariffs on aluminium scrap exports to the US, and stern limitations on impurities in scrap imports inevitably led to a drop in Chinese secondary aluminium operation rate for the month of June. The...
China's aluminium inventory shrank on higher consumption; A00 aluminium ingot price rose RMB150/t today
China's inventory of primary aluminium across eight major markets again continued to drop on higher downstream consumption due to falling prices. According to Shanghai Metals Market, inventories of primary aluminium, including SHFE warrants, fell 33,000 tonnes over the week to stand at 1.8 million...
China aluminium prices find support in buoyant alumina; new commissioning slow down on low demand
The China market is buzzing with the expectations that primary aluminium prices would stabilize or may increase supported by alumina prices. Meanwhile, anticipation of a growth in aluminium inventory grows amid low seasonal demand and slow pace in re-commissioning of capacity. Shanghai Metals...
