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 drops further; may test a support at US$2,125/t
The uptrend in LME aluminium seems to be losing its momentum. The light metal contract which closed at US$2,137 per tonne last Friday, September 22, came down to close at US$2,128 per tonne on Monday, September 25. Technical analysis suggests that LME aluminium may test a support at US$2,125 per...
LME aluminium to move in a narrow range at US$2,145-2,175/t
LME aluminium dropped marginally on Friday, September 22 ending at US$2,137 per tonne. The earlier close was at US$2,154 per tonne. Shanghai Metals Market forecasts that the light metal contract will move narrowly within the range of US$2,145-2,175 per tonne on Monday, September 25. As on September...
LME aluminium dips marginally but may fluctuate at highs
LME aluminium dropped slightly as the market supply still remains robust. The light metal contract came down from its earlier close of US$2,164 per tonne on Wednesday, September 20, to close at US$2,154 per tonne on Thursday, September 21. According to Shanghai Metals Market forecast, LME aluminium...
LME aluminium rises but may fall on a strong dollar; Fed rate hike forecasts weigh
LME aluminium strengthened further as positions dropped sharply. The light metal contract rose to US2,164 per tonne on Wednesday, September 20, up from US$2,490 per tonne on Tuesday, September 19. The U.S. Federation decided to keep the interest rate unchanged, but sounded hawkish on rate hike...
LME aluminium to stay at highs; technicals remain positive & inventory at all-time low
LME aluminium recovered from its recent lows and climbed to US$2,107.50 per tonne on Tuesday, September 19, as positions dropped sharply, indicating risk aversion. The rise of 1.95 per cent from its earlier close of US$2,067 per tonne on September 18 proves that the technical side is positive for...
LME aluminium to meet strong resistance and fall in US$2,055-2,068/t range
LME aluminium improved slightly to close at US$2,068 per tonne on Friday, September 15. Shanghai Metals Market observes that LME aluminium will range US$2,080-2,110 per tonne Monday, September 18. According to Reuters’ technical analysis, LME aluminium may fall into the range of US$2,055-US$2,068...
LME aluminium comes under downward pressure as SHFE aluminium slumps
LME aluminium seems to be coming under a downward pressure from the price declines of its counterpart traded at Shanghai Futures Exchange. The light metal which remained unchanged at US$2,083 per tonne for two consecutive days- September 12th and 13th, came down to US$2,065 per tonne on Thursday,...
LME aluminium remains unchanged; likely to fall below US$2,103/t
LME aluminium seems to be lacking the rising impetus after retracing to previous highs. The light metal contract closed at US$2,083 per tonne on Wednesday, September 13, unchanged from the previous day’s close after trading within a narrow range throughout the day. According to Reuters’ technical...
LME aluminium revisits US$2,100/t; may rise further
Seeking support from the rising aluminium contracts traded at Shanghai Futures Exchange (SHFE), aluminium prices at London Metal Exchange rose from its current lows of US$2,072 per tonne to US$2,100.50 per tonne on Monday, September 11. Reuters’ technical analysis suggests that LME aluminium will...
China’s spot aluminium market active on bullishness, stocks in China’s major markets continue to rise
In east China spot aluminium market, traders bought actively out of bullishness. Downstream producers sourced metal according to their need. Environmental issues continue to hurt production for both primary and downstream producers. Mainstream traded prices were RMB16,160-16,200 /tonne in Shanghai...
LME aluminium edges higher, but likely to lack further momentum
LME aluminium strengthens again. The light metal contract which closed at US$2,066.5 per tonne on Wednesday, August 30, edged higher to close at US$2,113.5 per tonne on Thursday, August 31. According to Shanghai Metals Market forecast, LME aluminium may continue to hover at highs in the short term...
Slow consumption and growing stock to put pressure on China aluminium prices
On last Friday’s night trading, all base metals on SHFE including aluminium fell back and registered obvious declines, except copper. Prices are expected to fluctuate at highs after fallback. SHFE aluminium is expected to hover within a range of RMB16,150-16,450/t on Monday, August 28. In another...
China aluminium prices on six years high today on the back of on-going capacity cut
<p>Aluminium prices in China registers a significant leap today after falling consecutively for two days. The price of aluminium closes on a six-year high today on speculation that the latest limits on expanding output capacity will help curtail oversupply. The aluminium price per tonne on the...
LME aluminium back to US$2,104/t, but may fall on growing stocks
<p>After a temporary dip below US$2,100 per tonne mark, LME aluminium is back to where it was last week. Drawing support from positive market fundamentals the light metal edged higher to US$2,104.50 per tonne after night trading on Tuesday, August 22, from the earlier close at US$2,084.50 per tonne...
Aluminium prices lift further in China despite slow demand, pre-baked anode market to remain tight
<p>While SHFE aluminium is performing well in the Chinese market, aluminium stocks in China continues growing week on week as downstream producers are unwilling to buy at higher price.</p> <p>Stocks in China’s seven major markets grew further compared with a week ago, SMM statistics showed,...
LME aluminium continues its upward trend; to test support at the 5-day moving average
<p>LME aluminium continues its upward trend with another leap from US$2,075 per tonne on Wednesday August 16 to close at US$2,095.50 per tonne on Thursday, August 17. As reported by Reuters, LME aluminium may settle into a range of US$2,081- 2,089 per tonne as it has stabilized around a...
Chalco further cuts aluminium prices; China’s stocks keep growing sharply
<p>China Aluminum International Trading Co. (Chalco Trading) has further cut aluminium prices it offered in China’s major markets today.</p> <p>Unit: RMB/tonne</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;"...
The London Metal Exchange seeks cut in warehouse rent for metals
<p>In order to improve transparency and increase the amount of metal registered under LME warrant, The London Metal Exchange has urged its network of metal warehouse owners to cut the rents charged for storage of metal.</p> <p>Rents for aluminium on warrant currently stands at about around 54 U.S...
