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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China’s aluminium inventory registers a hike, while A00 aluminium ingot price falls
After a successive decline of aluminium refined inventory over the last couple of weeks, SMM updated on April 4, 2018, including SHFE warrants that it hovered at 2.231 million tonnes. Although the inventory went down from 2.243 million tonnes seen in the last week, it was slightly up from 2.227...
China’s aluminium inventory dwindled again for the second week; SHFE recorded a price rise
China’s refined aluminium inventory has been exhibiting a drop for past two weeks owing to more and more consumption of downstream products in the market. According to the Shanghai Metal Market data, China’s aluminium inventory including SHFE warrants hovered at 2.23 million tonnes on Monday April...
LME aluminium plunges to a record low since August 2017; SHFE follows trend
The month of March is ending with bearish sentiment for LME aluminium as the light metal contract dipped sharply to US$1,996 per tonne overnight, a record low since August 2017. The contract closed at US$1997 per tonne yesterday March 29, down from US$2009 per tonne on Tuesday March 28. As the...
China aluminium inventory dropped considerably as downstream consumption rose in the domestic market
China’s refined aluminium inventory witnessed a further drop on Thursday March 29, 2018, as was expected by the analysts that refined aluminium inventory in China would start reducing between March and April this year after a rise in downstream consumption in the domestic market. According to the...
Aluminium inventory dips after two months; SMM projects slow output growth in 2018
China’s refined aluminium inventory saw a first dip last week to 2.28 million tonnes since the start of February. According to SMM data, China's aluminium inventory including SHFE warrants dropped further to 2.26 million tonnes as of Monday March 26. This is down from 2.28 million tonnes on...
LME aluminium resumes downward trend; High inventories give pressure to SHFE aluminium
After a gain on Tuesday to US$ 2073 per tonne, LME aluminium resumed its downward trends and closed at US$ 2056.5 per tonne on Wednesday 21 March. As updated by Shanghai Metals Market, LME aluminium met resistance at the 10-day moving average and lacked strong support overnight. SMM expects the...
LME aluminium registers a temporary gain; SHFE on a downward trend
LME aluminium shows some positive gain after a drop last Friday. LME aluminium closed at US$2069 per tonne on Friday March 16, up from US$2062 per tonne on Thursday March 15. LME aluminium gradually fell with resistance at the $2,100 per tonne level, according to Shanghai Metals Market. SMM expects...
Aluminium prices struggle to stay rangebound in China with no strong market fundamentals and drop in input cost
China's winter heating season ended on Thursday February 15 with less than expected results. China's aluminium production fell 1.8 per cent in January-February from a year earlier, as the country's pollution crackdown and supply-side reform kicked in. However, an estimated 4.4 million tonnes of new...
LME aluminium plummets on the back of rising US dollar and climbing inventory
Continuing with its downward pressure, London aluminium plummeted to its lowest since late December on Thursday on expectations of a supply gut as China's winter pollution controls expire, as the winter cuts did not have a substantial effect on China’s mounting inventory. Metal prices also came...
Critical dichotomy of rising inventory and winter capacity cut freezes China aluminium market
The winter heating season and capacity cut deadline ends today on Thursday March 15. Aluminium smelters in 28 northern Chinese cities had been told to reduce output by at least 30 percent from Nov. 15 to March 15, although the actual volume cut was below expectations, putting pressure on prices....
LME aluminium resumes downward trend; climbing inventory jeopardizes SHFE aluminium
After a modest gain on Monday to US$ 2097 per tonne, LME aluminium resumed its downward trends and closed at US$ 2080 per tonne on Tuesday 13 March. As updated by Shanghai Metals Market, LME aluminium met resistance at the five-day moving average and support at $2,100 per tonne last night. SMM...
LME aluminium gains on weaker dollar; SHFE aluminium fell to the lowest since 2016
LME aluminium continued falling through last week and closed with USD 2078.5 per tonne on Friday. However, the contract stayed firm above $2,100 per tonne over the weekend due to strong data from US non-farm payrolls. The LME aluminium contract gained higher to close at US$ 2097 per tonne on March...
China aluminium struggles under climbing inventory and low demand; A00 ingot drops across the market
As updated by Shanghai Metals Market, spot aluminium fell to RMB 13,800 per tonne on Monday March 12. SMM updates today’s average A00 ingot price stands at RMB 13,810 per tonne and is expected to trade in a range of RMB 13790 – 13830 per tonne today with a discount of RMB 100-80 per tonne. Primary...
China’s aluminium shipment up despite winter capacity cut; supply reforms expected to repeat in 2018
Ning Jizhe, the VC of the National Development and Reform Commission (NDRC) has recently announced that China will continue to cut aluminium capacity in 2018, and it would be market-based, standard, and prevent rule violations. This indicates the supply side reforms and environmental cuts would...
A00 ingot price drops further on rising aluminium inventory and Chalco alumina price drop
China metals lost ground on Wednesday as looming U.S. trade tensions overshadowed data that showed February semi—finished aluminium exports surged at the fastest pace in three years in China. Average A00 Aluminum Ingot prices dropped to RMB 13,910 per tonne today. The prices are expected to range...
A00 ingot prices register a slight gain today, expected to pick up with the approach of high season
With the growing domestic aluminium inventory and slow demand, both alumina and aluminium prices in China registered fall yesterday. However, China has registered a rise in prices of A00 aluminium ingot prices today. Primary aluminium ingot price also increased across all markets. Average A00...
LME aluminium starts the week with a drop; to be rangebound at the five-day moving average
With the US dollar hovering around the 90 level at the backdrop of the trade war between the US and other countries, base metals saw mixed trading. LME aluminium started the week with a drop. In the short term, Shanghai Metal Market expects the US dollar to continue to hover at 89.9 with...
Rising aluminium inventory in China continues to put pressure on alumina and aluminium prices
With the growing domestic aluminium inventory and slow demand, both alumina and aluminium prices in China are registering a downward trend. China sees a drop in prices of alumina and A00 aluminium ingot prices today across all markets. Today’s average spot alumina price stands at RMB 2777 per...
