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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Three-month LME aluminium closed 2.23% higher at US$1,699.5/t; SHFE aluminium edged up 0.04%
Three-month LME aluminium notched its highest since July 13 at US$1,702 per tonne on Tuesday. It ended 2.23% higher at US$1,699.5 per tonne. It is likely to move at US$1,680-1,720 per tonne today. As of Tuesday July 21, LME aluminium cash (bid) price stands at US$ 1646.50 per tonne, LME official...
LME aluminium price closed slightly higher at $1621/t on lower opening stock; SHFE increased after four declines in a row
The US dollar fell on Monday against a basket of rivals, as risk appetite improved on a flurry of announcements about a potential COVID-19 vaccine and expectations of more stimulus from Europe and from the US. Three-month LME aluminium closed little changed at US$ 1,662.5 per tonne on Monday in...
Three-month LME aluminium ended lower on the day at US$1,663/t; SHFE aluminium fell 0.28%
The US dollar was broadly lower last Friday as the euro climbed to close to a four-month high. LME and SHFE base metals traded lower for the most part on last Friday night. Three-month LME aluminium recovered during the American trading hours after it slipped to a session low of US$1,652 per tonne....
LME aluminium price displayed bearish trend last week ranging between $1664.50-1618/t; SHFE price also edged lower
The US dollar started the week lower on July 13, and then fell to its lowest in more than a month against a basket of rivals on Tuesday, July 14. On Wednesday, July 15, the dollar expanded its decline and stood at the lowest level in nearly five weeks. On Thursday, July 16, the currency, however...
LME aluminium price edged lower by $24/t on US dollar rise after four consecutive days of losses; SHFE extended decline
The US dollar rose on Thursday, July 16, while global stocks fell, as investors reacted to a mixed batch of economic data out of China and the US. The US dollar index, which measures the currency against a basket of rivals, gained 0.29 per cent to 96.250, after four consecutive days of losses....
Three-month LME aluminium ended at US$1,678.5/t; SHFE aluminium fell 0.72%
The US dollar declined to the lowest level in nearly five weeks. LME aluminium shed 0.24% and SHFE aluminium dropped 1.24%. Three-month LME aluminium recovered from a session low of US$1,673 per tonne, ending last night at US$1,678.5 per tonne. LME aluminium is expected to trade between...
LME aluminium price trended down to $1640 per tonne; SHFE price slipped by $9/t
The US dollar fell to its lowest in more than a month against a basket of rivals on Tuesday as stocks on Wall Street gained. Three-month LME aluminium eased 0.44 per cent to US$1,682.5 per tonne on Tuesday in choppy trading. It is likely to move between $1,670-1,710 per tonne today. As of Tuesday,...
Three-month LME aluminium jumped to a four-month high; SHFE aluminium advanced 2.79%
The US dollar edged lower on Monday. LME aluminium inched up less than 0.1% and SHFE aluminium advanced 0.6%. Three-month LME aluminium jumped to a fresh four-month high of US$1,705 per tonne on Monday. It closed just 0.06% firmer at US$1,690 per tonne. It is likely to move between US$1,670-1,710...
LME aluminium price decreased to $1639.5/t, while SHFE extended growth to $2172/t
Stocks on Wall Street were mostly higher on Friday, while the dollar slipped on Friday, July 10, as market sentiment was supported hopes of a potential vaccine for the novel coronavirus that outweighed concerns about the surge in infections in the US and around the world. The US currency posted its...
Three-month LME aluminium fell closed 0.96% lower at an intraday low of US$1,649/t; SHFE aluminium grew 1.17%
The US dollar rallied from a four-week low against a basket of rivals on Thursday. LME aluminium fell nearly 1% and SHFE aluminium advanced 0.3%. Three-month LME aluminium fell on Thursday after notching its highest since March 13 at US$1,695.5 per tonne. It ended 0.96% lower at an intraday low of...
Three-month LME aluminium scaled highest in four months to close at $1665/t; SHFE rebounded at $2062/t
The US dollar edged lower on Wednesday, July 8, as investors weighed hopes for a quick economic recovery against concerns about resurgence in the coronavirus pandemic, particularly in the US. Three-month LME aluminium scaled the highest level in four months, topping US$ 1,670 per tonne, before it...
Vedanta Ltd increases its aluminium ingot and billet prices by INR1250/t with effect from July 8
Vedanta Limited has increased its aluminium ingot and aluminium billet prices with effect from July 8, following the two consecutive cuts on July 1 and July 4. The aluminium ingot price has been raised by INR 1,250 per tonne or 1 per cent to INR 136,750-149,750 per tonne. After the last cut,...
LME aluminium price recorded a slight rise to close at $1596.5/t; SHFE dipped after six declines in a row
The US dollar inched higher against a basket of currencies on Tuesday, July 7, holding above the near two-week low hit in the previous session, as investors turned uneasy over new coronavirus flare-ups and local lockdowns in some countries. Three-month LME aluminium held onto one-month highs on...
Three-month LME aluminium rose 1.43% to four-week highs; SHFE aluminium added 0.93%
Three-month LME aluminium advanced 1.43% to four-week highs of US$1,635 per tonne on Monday. It is likely to move between US$1,620-1,660 per tonne today. As of Monday July 6, LME aluminium cash (bid) price stands at US$ 1593 per tonne, LME official settlement price stands at US$ 1593 per tonne;...
Three-month LME aluminium fell nearly 1% to end at $1612/t; SHFE price up for the fifth straight day
The US dollar was hemmed into a narrow range on Friday, while European stocks closed lower as concern over a spike in US coronavirus infections tempered the optimism arising from upbeat economic data out of the US, China and the eurozone. Three-month LME aluminium fell 0.74 per cent to end at a...
LME aluminium price showed bullish sentiment this week on opening stock decline, SHFE trended up at $2022/t
The US dollar started the week on a negative footing and edged lower on Monday, June 29, and extended the downfall on Wednesday, July 1. Three-month LME aluminium closed higher on Monday, June 29, for the second consecutive session, ending at US$ 1,613 per tonne, up 0.97 per cent on the day. On...
Three-month LME aluminium closed at US$1,624/t; SHFE aluminium stayed flat
Three-month LME aluminium rebounded from a session-low of US$1,613 per tonne to a more than three-week high of US$1,630 per tonne before ending at US$1,624 per tonne. As of Thursday July 2, LME aluminium cash (bid) price stands at US$ 1601.50 per tonne, LME official settlement price stands at US$...
Hindalco again increases its aluminium prices by 1% w.e.f July 1 in line with rallying LME prices
Hindalco Industries Limited has increased its aluminium products prices by again 1 per cent for the second consecutive time, with effect from July 1, 2020. With the latest hike, the company’s aluminium ingot price has come in at INR 139,750 per tonne compared to INR 138,000 per tonne on June 27,...
