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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LME aluminium price closed lower at $1593.5/t amid opening stock decline; SHFE hiked for the third straight day
The US dollar slipped on Wednesday, July 1, in choppy trading, with the market having a modest appetite for risk-taking amid generally upbeat US data and improving European economic numbers. The dollar index, which tracks the greenback against basket of its peers, touched a one-week low of 97.025...
Three-month LME aluminium ended at US$1,618/t; SHFE closed the day 0.77% higher
The US dollar edged lower after rose on Tuesday. LME and SHFE base metals ended mixed overnight. LME aluminium grew 0.31% and aluminium gained 0.72%. Three-month LME aluminium hovered in a broad range between US$1,615-1,626 per tonne. It ended higher on the day at US$1,618 per tonne. As of Tuesday...
Three-month LME aluminium closed higher at $1613/t for the second consecutive session; SHFE hiked to $1977/t
The US dollar started the week on a negative footing and edged lower on Monday. Market sentiment was lifted as the European Union is preparing to open its borders to travellers from 14 countries after months of lockdown. Three-month LME aluminium closed higher for the second consecutive session,...
Three-month LME aluminium ended Friday at US$1,597.5/t; SHFE aluminium grew some 0.5%
The US dollar strengthened last Friday and once rose to the highest in almost four days. LME aluminium climbed 1.69%. Three-month LME aluminium ended Friday at US$1,597.5 per tonne, up 1.69% on the day. Investor reaction to the ongoing coronavirus situation in the US will continue to be watched. As...
LME aluminium price recorded second straight decline at US$1543.5/t; SHFE contract finished the day 0.51% lower
Benchmark aluminium price on the London Metal Exchange dropped 1.31 per cent to US$ 1543.50 per tonne on Thursday, June 25, from US$ 1564 per tonne on Wednesday, June 24. As of Thursday, June 25, LME aluminium cash (bid) price and LME official settlement price slipped by US$ 20.5 per tonne to stand...
LME aluminium price closed Wednesday’s trading at US$ 1564/t; SHFE aluminium fell 0.5%
Benchmark aluminium price on London Metal Exchange dropped 0.86 per cent to US$ 1564 per tonne on Wednesday, June 24, from US$ 1577.5 per tonne on Tuesday. As of Wednesday June 24, LME aluminium cash (bid) price stands at US$ 1564 per tonne, LME official settlement price stands at US$ 1564 per...
LME aluminium price increased to $1577.5/t; Most-liquid SHFE contract came off from session highs
The US dollar continued to edge lower on Tuesday, June 23, hitting the lowest level in more than a week, as the US President Donald Trump boosted investors’ optimism after he tweeted that the trade deal with China was “still intact”. This followed an increase in the greenback when the markets were...
Fitch Ratings amends outlook on Greece based Mytilineos to negative; Affirms at 'BB'
Fitch Ratings has amended the Outlook on Mytilineos S.A.'s long-term Issuer Default Rating (IDR) to Negative from Stable and affirmed the IDR and senior unsecured ratings at 'BB'. The amendment of the Outlook exhibits the weak macro environment with prolonged low commodity prices, material pressure...
Three-month LME aluminium ended at US$1,601/t; SHFE aluminium gained 1.07%
The US dollar fell on Monday. Overnight, LME and SHFE base metals closed mostly higher. LME aluminium added 0.95% and SHFE aluminium increased 0.96%. Three-month LME aluminium rebounded after initially falling to a session low of US$1,581.5 per tonne. It ended up 0.95% on the day at US$1,601 per...
Three-month LME aluminium finished lower at US$ 1,586 per tonne; SHFE climbed US$8/t
The US dollar rose for the fourth consecutive day last Friday and posted its best weekly gain in a month, as fears of a second wave of coronavirus infections boosted demand for safe-haven assets. The dollar index, which measures the greenback against six major peers, was up 0.2% at 97.622, notching...
London Metal Exchange penalizes warehouse firm ISTIM for violating aluminium warrant rules
On 19 th June’20, The London Metal Exchange (LME) stated that it had penalized warehouse operator ISTIM 30,000 pounds ($37,000) for violating aluminium warrant rules. The LME stated in a notice to members: “Between 12 th September’19 and 9 th December’19, ISTIM erroneously instructed its London...
LME aluminium price trended up this week by US$32/t on declining opening stock; SHFE price edged lower over the week
The US dollar declined on Monday, June 15, amid mounting fears of a second wave of the coronavirus pandemic, while on Tuesday it rose on the back of a record rise in US retail sales. On Wednesday, the dollar continued to move higher and further expanded on Thursday, June 18. Three-month LME...
Three-month LME aluminium ended the day 0.47% lower; SHFE aluminium retreated 0.4%
The US dollar extended its increase on Thursday. Overnight, LME aluminium fell 0.47% and SHFE aluminium shed 0.65%. Three-month LME aluminium tested support from the 10-day moving average as it fell from a session high of US$1,615.5 per tonne. It ended the day 0.47% lower at US$1,600 per tonne. LME...
LME aluminium price grew for the second consecutive day to $1577.50/t; SHFE price plunged by $16/t
The US dollar continued to move higher on Wednesday, June 17, as investors safe haven demand increased amid concerns about the coronavirus pandemic with a surge in cases in some US states. Three-month LME aluminium ended higher for the third consecutive day, as it bounced back after dipping to a...
Three-month LME aluminium ended up 1.04%; SHFE aluminium jumped nearly 2%
The US dollar rose on Tuesday on the back of a record rise in US retail sales. LME and SHFE base metals mostly closed higher on the day. Three-month LME aluminium gained for the second straight session. It ended up 1.04% on the day at US$1,604 per tonne. As of Tuesday June 16, LME aluminium cash...
LME aluminium price slipped by $4/t on higher opening stock; SHFE price declined to US$1947/t
The US dollar declined on Monday amid mounting fears of a second wave of the coronavirus pandemic. The Federal Reserve announced it would buy individual corporate bonds in the secondary market, and this sparked a risk-on move, sending US stocks higher and safe-haven assets like the US dollar lower....
Three-month LME aluminium declined for the second straight day; SHFE aluminium lost 0.4%
The US dollar increased on Friday. The dollar index, which measures the greenback against six major peers, gained 0.15% on the week after hitting its highest level since June 4 at 97.45. LME aluminium shed 1.13% and SHFE aluminium went up 0.41%. Three-month LME aluminium fell for the second...
LME aluminium price declined sharply to US$1582/t on US dollar gain; SHFE fell to US$1949/t
The US dollar gained on Thursday, June 11 as US stocks plunged amid reduced expectations that the global economy would recover swiftly from the coronavirus pandemic, following Wednesday’s economic outlook from the Federal Reserve. The three-month LME aluminium declined, closing the day 2.03 per...
