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 rose 0.06% to end at US$1,771.5/t; SHFE aluminium edged down 0.07%
The US dollar stood near two-week highs on Monday after positive US economic data was released Friday. The dollar index, which tracks the greenback against a basket of other currencies, eased 0.02% and finished at 97.66. LME base metals mostly fell while the SHFE complex traded on a mixed note. LME...
LME traded bullish last week and closed at US$1,801/t on Friday night; SHFE to trade between RMB 14,170-14,250/t
The US dollar recorded its best week since early November on the back of a series of strong US economic data that reduced the likelihood of a near-term cut in interest rates. The dollar index, which tracks the greenback against a basket of other currencies, rose 0.3% on the day and finished at...
LME aluminium regained the losses on Thursday; SHFE continued its upward momentum to close at RMB 14,200/t
The US dollar was roughly flat on Thursday as the market awaited the release of US gross domestic product data on Friday. The dollar index, which tracks the greenback against a basket of other currencies, rose 0.01% and finished at 97.39. LME base metals mostly increased and the SHFE complex rose...
LME aluminium is getting back to contango; SHFE climbed to its highest since September yesterday
The US dollar continued to rise Wednesday, moving close to a one-week high, as improving economic data reduced the likelihood of a Federal Reserve interest rate cut in 2020. LME base metals and the SHFE complex traded mixed yesterday. LME aluminium gained 1.02% and SHFE aluminium grew 0.85%. Three...
LME aluminium registered a slight increase on Monday; SHFE moves upward supported by falling inventory
The US dollar extended decline and hit the lowest in nearly five months as a lack of detail about the preliminary US-China trade deal appeared to fuel the market doubts. The dollar index, which tracks the greenback against a basket of other currencies, slipped 0.16% and ended at 97.04. LME base...
LME aluminium trimmed gains on Friday night after a bullish day; SHFE followed the trend with a drop
The US dollar edged lower against a basket of currencies last Friday on news of a preliminary China-US trade deal and an election victory for Britain’s Brexit-backing Conservative Party. LME base metals and the SHFE complex closed mostly lower. LME aluminium fell 0.4% and SHFE aluminium dropped...
Three-month LME aluminium rose to its highest in nearly two weeks yesterday; SHFE continues strong
The US dollar dropped to its lowest in more than five months against its rivals, reversing gains from Thursday’s rally, as risk appetite returned on reports that China and the US are close to the signing of a “phase one” trade deal. LME base metals drifted higher on Thursday. Aluminium advanced...
LME aluminium cash and three months contract registered gain yesterday on weak dollar; SHFE traded higher
The US dollar fell to its lowest in more than four months against its rivals on Wednesday, after the Federal Reserve held interest rates steady and indicated it will likely not raise rates in 2020. LME base metals trended higher on Wednesday. Aluminium rose 0.4% and SHFE aluminium gained 0.1%. LME...
ISTIM UK held 35% of aluminium stocks in its warehouse in Malaysia; longer queues likely to be back in LME warehouses
LME data shows that Warehousing firm ISTIM UK held 35% of aluminium stocks in its LME registered warehouse in Malaysia by the end of November. Reuter reported aluminium stocks in ISTIM’s Port Klang and Johor warehouses increased 213,275 tonnes to 476,846 tonnes in November. Total aluminium stocks...
LME aluminium lost Monday's gains on buildup of short positions; SHFE gained for third consecutive day
The US dollar fell against its rivals on Tuesday, as investors were wary of a looming deadline for US tariffs on China. LME base metals, except for aluminium closed higher on Tuesday. SHFE aluminium gained 0.2%. Three-month LME aluminium erased earlier gains to close down 0.43% at US$1,753 per...
LME aluminium regained losses on the first day of the week but dropped during night trading; SHFE advanced slightly
The US dollar held its ground against its rivals on Monday, after a sharp rally last Friday boosted by the stronger-than-expected US jobs data. LME base metals closed mixed on Monday and aluminium shed 0.1%. The SHFE complex also saw mixed performance overnight and aluminium increased about 0.7%....
Three-month LME aluminium recovered on Friday night to hit US$1,762.5/t; SHFE capped its uptrend
The US dollar rallied from one-month lows against its rivals on Friday, as investors digested a better-than-expected US nonfarm payrolls report. LME base metals closed higher on Friday and aluminium rose 0.8%. The SHFE complex also traded mostly higher on Friday night but aluminium bucked the...
Weekly Recap: Both LME & SHFE aluminium traded mixed over the week; backwardation continues in LME
The US dollar dropped to the lowest in more than one week on Monday against a basket of currencies. The US dollar continued a six-day losing streak, as investors monitored US-China trade and data releases. Friday saw some gains on the index. LME aluminium gained 1.8% to become the outperformer on...
Three months LME aluminium slipped yesterday after a temporary rise; SHFE too registered a drop
The US dollar dropped against its rivals on Thursday, registering a six-day losing streak, as investors monitored US-China trade and data releases. LME base metals closed mixed on Thursday. Aluminium shed 0.5%. SHFE aluminium also declined 0.4%. Three-month LME aluminium slipped to its lowest since...
Three-month LME aluminium dipped to the lowest in more than one week to US$1,748/t on Wednesday night
The US dollar held firm above a one-month low against its rivals after a news report on Wednesday from Bloomberg that said the US and China were edging closer to a trade deal. LME base metals, except for aluminium and nickel, drifted higher on Wednesday. The SHFE aluminium dipped 0.07%. Three-month...
LME aluminium closed lower on Tuesday night after a bullish day; SHFE traded higher on healthy consumption
The US dollar extended its decline on Tuesday against a basket of its rivals as disappointing manufacturing data and new developments in global trade tensions rattled greenback investors. LME base metals closed lower on Tuesday and aluminium tumbled 1.3%. The SHFE complex traded mixed overnight and...
Three months LME aluminium rose above moving averages on Monday night to touch US$1,791.5/t; likely to trade high today
The US dollar dropped to the lowest in more than one week on Monday against a basket of currencies after data showed US factory activity contracted in November. LME base metals closed mixed on Monday and aluminium gained 1.8% to become the outperformer. The SHFE aluminium also registered a gain....
LME aluminium closed November with a gain at US$1785.5/t; SHFE traded stronger on healthy consumption
The dollar gave up early gains to trade slightly lower against a basket of currencies on last Friday as a still unsigned partial US-China trade deal kept investors on edge. But for the month, the dollar index was up 0.9%, its best monthly performance since July. LME base metals closed mixed while...
