Low inventory supports aluminium prices to consolidate at highs; Peak season recovery pace awaits verification
Futures: The most-traded SHFE aluminium contract opened at RMB 24,590 per tonne in the night session on September 9, reached a high of RMB 24,660 per tonne and a low of RMB 24,565 per tonne, and closed at RMB 24,650 per tonne, up RMB 90 per tonne or 0.37 per cent from the previous close. Futures...
LME aluminium cash offer rises 0.84% to $3,353/t; stocks remain unchanged at 244,525t
The LME aluminium price moved higher on September 9 compared with the previous trading day, with cash and three-month aluminium prices recording gains, while total warehouse stocks remained unchanged. On September 9, the LME aluminium cash bid price stood at USD 3351.5 per tonne, up USD 27.5 per...
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SHFE aluminium price rose marginally by $1/t to $2154/t, most-liquid SHFE 2010 contract ended 0.7% lower
The US dollar hit a more than two-year low and a fourth straight month of losses on Monday in the wake of the US Federal Reserve’s policy shift on inflation. It is down 1.24 per cent for the month, marking its worst August in five years and the longest run of monthly losses since the summer of...
Three-month LME aluminium ended 0.12% higher at US$1,798/t on Friday; SHFE aluminium edged up 0.07%
Three-month LME aluminium broke above US$1,800 per tonne to a more than half-year high of US$1,806 per tonne on Friday, ending 0.12% higher at US$1,798 per tonne. As of Friday August 28, LME aluminium cash (bid) price stands at US$ 1762 per tonne, LME official settlement price stands at US$ 1762...
LME aluminium price settled higher this week at $1762/t amidst incessant opening stock decline; SHFE trended up at $2128/t
Three-month LME aluminium started the week on Monday, August 24, with a growth of 0.11 per cent to stand at US$ 1770 per tonne. On Tuesday, the price settled 0.51 per cent higher at US$ 1779 per tonne, which however, weakened a bit by 0.17 per cent on Wednesday, August 26, to end at US$ 1776 per...
GFG Alliance Chairman Sanjeev Gupta nominated as the keynote speaker for LME’s seminar
The Executive Chairman of aluminium and steel investment company GFG Alliance, Sanjeev Gupta will head the roster at the London Metal Exchange’s virtual seminar for 2020, as declared on 28 th August. The virtual seminar will commence from 19 th October ‘20 and replaces the annual LME week gathering...
Three-month LME aluminium ended 11% higher at $1779/t; SHFE declined to $2128/t after three consecutive hikes
The US dollar gained on Thursday, August 27, in choppy trading after Federal Reserve Chairman Jerome Powell said, as widely expected, that the US central bank would roll out an aggressive new strategy to lift US employment and inflation. Three-month LME aluminium fluctuated widely on Thursday,...
Three-month LME aluminium ended at US$1,776/t; SHFE aluminium added 0.96%
Three-month LME aluminium weakened 0.17% to end at US$1,776 per tonne on Wednesday. As of Wednesday August 26, LME aluminium cash (bid) price stands at US$ 1737per tonne, LME official settlement price stands at US$ 1737per tonne; 3-months bid price stands at US$ 1779 per tonne, 3-months offer price...
LME aluminium price edged lower at $1733/t amid continued decline in opening stock; SHFE price extended rise to $2130/t
The dollar dipped on Tuesday, August 25, as investors waited on comments from Federal Reserve Chairman Jerome Powell about the US central bank’s policy framework review, and after data showed improving German business morale. Three-month LME aluminium settled 0.51 per cent higher at US$ 1,779 per...
Three-month LME aluminium closed higher at US$1,770/t; SHFE aluminium fell 0.44%
Three-month LME aluminium settled 0.11% higher at US$1,770 per tonne on Monday. As of Monday August 24, LME aluminium cash (bid) price stands at US$ 1735.50 per tonne, LME official settlement price stands at US$ 1735.50 per tonne; 3-months bid price stands at US$ 1776 per tonne, 3-months offer...
Sumitomo Corporation: Japan's aluminium premiums to hit $90/tonne in October-December quarter
Sumitomo Corporation, Japan’s one of the largest global general trading companies, and a diversified corporation forecast that the Japanese aluminium premium to rise to $90 a tonne in the October-December quarter, from $79 this quarter, as industry demand and stock-financing deals return, as stated...
China’s aluminium imports jumped sevenfold Y-o-Y to stand at 391,297 tonnes in July 2020: Customs data
China, the world’s top exporter of aluminium, turned net importer for the first time in July 2020 since 2009. The country’s aluminium imports during the said month jumped nearly sevenfold year-on-year to record the second-highest level, found China customs data. Arrivals of unwrought aluminium and...
LME aluminium price decreases by $30/t after three consecutive rises, SHFE edges lower at $2115/t
The US dollar on Friday gained against the euro for the first week since mid-June after data showed a strong uptick in US business activity, while the single currency was held down as an August batch of European business surveys pointed to a stuttering economic recovery. Three-month LME aluminium...
Three-month LME aluminium ended at US$1,783; SHFE aluminium rose 0.82%
Three-month LME aluminium declined 0.5% to end at US$1,783 per tonne on Thursday. As of Thursday August 20, LME aluminium cash (bid) price stands at US$ 1755.50 per tonne, LME official settlement price stands at US$ 1755.50 per tonne; 3-months bid price stands at US$ 1791.50 per tonne, 3-months...
LME aluminium price increased for the second consecutive day to $1746.5/t on opening stock decline, SHFE up by $22/t
The US dollar gained on Wednesday, August 19, after the Federal Reserve suggested it could pursue aggressive stimulus measures for longer than under its previous strategy, minutes from its last policy meeting showed. Three-month LME aluminium closed 1.07 per cent higher at US$ 1,787.5 per tonne on...
Three-month LME aluminium closed 0.91% firmer at US$1,773/t; SHFE aluminium increased 0.7%
Three-month LME aluminium trended higher on Tuesday, closing 0.91% firmer at US$1,773 per tonne. Open interest fell 10,706 lots to 797,000 lots. It is expected to move between US$1,750-1,780 per tonne today. As of Tuesday August 18, LME aluminium cash (bid) price stands at US$ 1733 per tonne, LME...
LME aluminium price declined for the second consecutive day to $1719.5/t, SHFE price increased to $2081/t
US dollar fell for four straight trading days, and recorded a new low since August 7 of 92.76 on Monday as weak results from a regional manufacturing survey added to doubts sowed by grim data last week that the US recovery is on shaky grounds. Three-month LME aluminium closed 0.92 per cent firmer...
Three-month LME aluminium closed lower at US$1,741/t on Friday; SHFE aluminium added 0.31%
Three-month LME aluminium closed 1.28% lower at US$1,741 per tonne on Friday. Open interest increased 7,854 lots to 809,000 lots as shorts added positions. The effect of US dollar index on LME aluminium will be monitored. As of Friday August 14, LME aluminium cash (bid) price stands at US$ 1730 per...
NALCO increases its aluminium price by only 1% in line with LME price downtrend this week
National Aluminium Company Limited (NALCO) has expanded its aluminium and aluminium product prices for the fourth time in a row, with effect from Friday, August 14. The company has raised its aluminium ingot price by INR 1,300 per tonne or 1 per cent to INR 150,050-153,550 per tonne, as of August...
LME reveals proposed layout plans for its LOW-CARBON aluminium trading platform
On Thursday, August 13, the London Metal Exchange laid out plans to create the much-intended low-carbon aluminium spot trading platform to support sustainable metal production. The platform is expected to play a growing role in the green energy transition enabling registered producers to...
