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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LME aluminium breaks below support level; more weakness to follow
A host of unconducive macroeconomic factors is driving LME aluminium price below its support level. The dollar index at 93.17 is edging higher on some progress being made in US tax reform, the effect of production reduction in China is still not getting reflected in downstream purchase behaviour,...
LME aluminium sinks further taking heat out of the year’s 22% rally
The rally in LME aluminium is not over yet, but the momentum has certainly vanished. The light metal contract which started November at US$2,188 per tonne has fallen by 5.7 per cent to stand at US$2,062 per tonne as on November 29. It seemed to have drawn little support from the encouraging...
LME aluminium slips back as key raw material prices drop in major markets
LME aluminium retraced US$2,100 per tonne mark on Tuesday, November 28, as key raw material prices in China, one of the world’s major markets, dropped further. The light metal edged slightly higher to US$2,109.5 per tonne on Monday, November 27. Though the rest of the financial year outlook for the...
LME aluminium rises, but slowly; short-term volatility to continue
The slow-paced uptrend in LME aluminium is continuing. The light metal contract having risen from the monthly low of US$2,062 per tonne on November 21, neared US$2,110 per tonne yesterday. It closed at US$2,109.50 per tonne after night trading on Monday, November 27. Current price scenario, raw...
A tuned down USD index lifts LME aluminium prices; bearish trend getting weak
LME aluminium has edged further up after the marginal gains last week. Buoyed by a declining dollar index, the light metal contract rose from US$2,090 per tonne on Thursday, November 24 to US$2,104 per tonne on Friday, November 27. However, since aluminium raw material prices are trending low...
LME aluminium gains after US dollar index hits one-month low
LME aluminium gained slightly after the US dollar index hit one-month low following the minutes from the Federal Reserve’s last FOMC meeting. The light metal contract inched higher from US$2,085 per tonne on Wednesday, November 23 to US$2,090 per tonne on Thursday, November 24. JP Morgan in its...
LME aluminium inches up despite quiet trading ahead of U.S. Thanksgiving holiday
LME aluminium edged slightly higher on Wednesday, November 22, despite muted trading ahead of the Thanksgiving holiday in the United States. The light metal contract closed at US$2,085 per tonne yesterday, up from US$2,062 per tonne on Tuesday, November 21. The fact that the demand growth has...
LME aluminium heads down; near-term outlook negative, analysts opine
LME aluminium slid further down. With the price support from two of aluminium’s key raw materials coal and alumina weakening, the light metal is unable to reverse the downtrend, even when aluminium stocks in LME warehouses are declining. On the other hand, demand growth has slowed down. All these...
LME aluminium keeps declining as alumina and coal price support weakens
LME aluminium is extending its declines. With the downward tendency of alumina and coal prices already setting in across China market, the light metal is unable to draw support and reverse the downtrend. From US$2,077 per tonne on November 17, LME aluminium has dropped further to US$2,067.50 per...
LME aluminium drops below US$2,100/t again amid weakening downstream demand
LME aluminium failed to sustain last week’s gain as buying slowed down in the downstream verticals. The light metal contract which had inched higher to US$2,106 per tonne on Thursday, November 16, slid back to US$2,077 per tonne after night trading on Friday, November 17. Current price trend...
Winter capacity cut to take time to improve aluminium inventory in China; prices on downward track today
It will take time to reflect results of the implementation of production cut in the aluminium ingots inventory in the Chinese market. This is putting pressure in the aluminium prices by keeping it low. A00 ingot prices in China drop across two days after the winter capacity cut started on November...
LME aluminium inches higher, but will the bearish uptrend sustain?
LME aluminium has edged higher above the US$2,100 per tonne mark. The light metal contract which has been struggling around US$2,080 per tonne level over the last five days rose 1.25 per cent to close at US$2,106 per tonne on Thursday, November 16. However, the bearish trend in global non-ferrous...
LME aluminium keeps slipping as Chinese consumption slows down
LME aluminium dropped marginally as consumption in China, the world’s biggest aluminium consumer market, slowed down alongside the onset of winter capacity cuts. The light metal contract which closed at US$2,085 per tonne on Tuesday, November 14, came down to close at US$2,082 per tonne on...
LME aluminium falters amid subdued demand; drops below US$2,100/t
LME aluminium is struggling to break above the US$2,100 per tonne mark. After inching higher at US$2,100 per tonne on Monday, November 13, the light metal contract again dropped to US$2,085 per tonne on Tuesday, November 14. Current price trend analysis suggests that LME aluminium will extend its...
A00 ingot prices in China continue downward trend, the industry awaits winter capacity cut
A00 ingot prices in China drop across all markets driven by poor consumption and increasing stock. The capacity cut till date has not been able to change the inventory scenario substantially till date. As updated by Shanghai Metals Market, average A00 aluminium ingot price has dropped further to...
LME aluminium inches up; gains likely to be limited
LME aluminium edged higher and retraced US$2,100 per tonne on Monday, November 13 as dollar index remained flat. The light metal contract has been following a downtrend since November 3 when it touched US$2,165 per tonne. LME aluminium has declined 3 per cent since then. It is projected that LME...
LME aluminium may rise slightly before testing resistance at US$2,125/t
LME aluminium slid below US$2,100 per tonne mark last week due to subdued demand and strong dollar. The light metal contract ended slightly higher on Friday, November 10, at US$2,090 per tonne, rising from US$2,078 per tonne on November 9. Reuters’ technical analysis suggests that LME aluminium may...
LME aluminium slides below US$2,100/t on tepid demand
LME aluminium after having risen to US$2,188 per tonne in a month has caught on a down trend. Due to subdued demand in China and a more or less plateaued consumption in rest of the world, the light metal has given up its gain and gradually heading towards US$2,046 per tonne support. From...
