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 surged to US$1613.5/t on extended loss of US dollar; SHFE price grew further by US$13/t
The US dollar extended losses on Wednesday, falling to a fresh three-month low against a basket of major currencies after the Federal Reserve made no policy changes, as expected. Three-month LME aluminium recovered its declines from March as it climbed on a softened US dollar, hitting a session...
LME aluminium price declined to US$1565.5/t on increasing opening stock; SHFE price continued to grow
The US dollar continued to trade lower against all of the European currencies on Tuesday ahead of the Federal Reserve’s monetary policy announcement. Three-month LME aluminium recovered after declined, but it failed to end higher on the day as it lost 0.12 per cent on the day at US$ 1,603 per...
Hindalco hikes its aluminium ingot price by INR2500/t
Hindalco Industries Ltd has continued to increase the price of its aluminium ingots, billets and wire rods by 2%. This marked the second consecutive hike in the price of the same products. With effect from June 6, Hindalco aluminium ingots price now stands at INR 135,750 per tonne, marking an...
Three-month LME aluminium closed 0.82% higher; SHFE aluminium jumped 2%
The US dollar slipped on Monday. LME and SHFE base metals closed higher across the board last night. LME aluminium added 0.82% and SHFE aluminium gained 1.54%. Three-month LME aluminium traded robustly and broke up US$1,600 per tonne overnight. It ended 0.82% higher on the day at US$1,605 per...
LME aluminium price increased to US$1553.50/t as opening stock stood down; SHFE price edged higher at US$1919/t
The US dollar rose slightly last Friday after data showed the US labour market unexpectedly improved in May, but the currency ended the week lower, for a third consecutive week. Uncertainties about the economic outlook and the possibilities of a second wave of the coronavirus infections capped the...
LME aluminium price edged higher at US$1553.5/t during June 1-5; SHFE price slightly up at US$1880/t
The US dollar on Monday, June 1, fell against a basket of rivals for a fifth straight trading day as risk sentiment improved on optimism that the worst of the economic downturn caused by the global spread of the coronavirus may be in the past. On June 2, easing further, the dollar index, which...
Three-month LME aluminium closed lower at US$1,564.5/t; SHFE aluminium gained 0.5%
The euro jumped to a 12-week high against the US dollar on Thursday. The dollar index, which gauges the greenback against a basket of major currencies, fell for a eighth straight day and plumbed the lowest since March 12 at 96.5774. Three-month LME aluminium fluctuated to close a tad lower at...
LME: Intends to float a platform to trade LOW-CARBON aluminium
The London Metal Exchange desires to launch a platform to trade ‘low-carbon’ aluminium mostly manufactured with renewable energy. This will mark as an inceptive in the exchange’s 143-year history a metal will be traded deployed on its environmental footprint. Matt Chamberlain, CEO, LME said: “The...
LME aluminium price rebounded to US$1526/t after two consecutive declines; SHE climbed to US$1878/t
The US dollar eased further on Wednesday, June 3, while stocks on Wall Street posted yet another robust day, as better-than-expected economic data bolstered optimism over the recovery from coronavirus-led shutdowns, which outweighed brewing US-China tensions and widespread protests in the US. The...
Three-month LME aluminium ended at a 10-week peak; SHFE aluminium shed 1.06%
The US dollar eased further on Tuesday. The dollar index, which gauges the greenback against a basket of major currencies, fell for a sixth straight day and plumbed the lowest since March 13 at 97.4335. LME aluminium climbed 1.4% and SHFE aluminium inched up 0.3%. Three-month LME aluminium climbed...
COVID-19 hit: Rusal loses 70-80% of its customers’ usual aluminium demand
Aluminium producer Rusal is seeing a 70-80 per cent cut in demand from customers, after the market slowed down in April due to the COVID-19 pandemic. The news came after Roman Andryushin, Rusal’s head of sales and marketing, told Reuters that its customers are returning with 20-30 per cent of their...
Bearish global aluminium spot price encouraging investors to take part in metal storage trade
According to a recent survey, commodity investors are rushing to make profit from a surplus supply of aluminium. They are buying the metal to store and sell it for future delivery when millions of tonnes of lightweight metal are being produced across the world. As smelters are continuing to produce...
Three-month LME aluminium stepped down from two-month highs; SHFE down to US$1869/t
The US dollar fell against a basket of rivals for a fifth straight trading day on Monday as risk sentiment improved on optimism that the worst of the economic downturn caused by the global spread of the coronavirus may be in the past. Three-month LME aluminium pulled back from two-month highs on...
Three-month LME aluminium ended the day 0.59% higher at US$1,547/t; SHFE aluminium added 0.84%
The US dollar extended its slide against a basket of rivals on Friday. LME aluminium climbed 0.6% and SHFE aluminium gained 0.5%. Three-month LME aluminium hit a new two month-peak of US$1,549 per tonne, before ending the day 0.59% higher at US$1,547 per tonne. Shanghai Metals Market expects the...
LME aluminium price recorded growth this week to US$1515/t; SHFE increased to US$1864/t
The US dollar started the week on May 25 with a hike against a basket of rivals. On Tuesday, the dollar slipped as risk sentiment returned to the market amid a reopening world economy and subdued demand for the safe-haven currency. On Wednesday and Thursday, it plunged further to a two-month trough...
Three-month LME aluminium hit a two-month peak of US$1,541/t; SHFE aluminium continued to rise by 1.47%
The US dollar fell to a two-month trough against a basket of currencies on Thursday. LME aluminium gained 0.6% and SHFE aluminium rose 0.4%. Three-month LME aluminium hit a two-month peak of US$1,541 per tonne. It ended up 0.56% at US$1,538 per tonne. Shanghai Metals Market expects the contract to...
Three-month LME aluminium increased to close at US$1,529.5/t; SHFE aluminium added 0.85%
The US dollar edged lower against a basket of currencies on Wednesday. LME aluminium closed higher and SHFE aluminium rose 0.9%. Three-month LME aluminium advanced to US$1,534 per tonne. It closed up 0.5% at US$1,529.5 per tonne. Shanghai Metals Market expects the contract to move between...
Three-month LME aluminium ended the day higher at US$1,521.5/t; SHFE decreased to US$1847/t
The US dollar slipped on Tuesday as risk sentiment returned to the market amid a reopening world economy and this subdued demand for the safe-haven currency. Three-month LME aluminium climbed and found steady support from US$ 1,520 per tonne ending the day 1.2 per cent higher at US$ 1,521.5 per...
