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 months LME aluminium gained last Friday to a high of US$1,790/t; SHFE followed its counterpart
The US dollar dropped on Friday after data showed a mixed view on the economy, and on the optimism that the United States and China will reach a deal to end their trade war soon. The dollar index, which tracks the greenback against a basket of other currencies, shed 0.1% and ended at 97.21. LME...
Weekly throwback: LME aluminium traded higher on weak dollar and SHFE remained rangebound on the higher side
The US Dollar Index (DXY) remains under heavy bearish pressure this week. The US dollar eased in the beginning of the week as growing hopes for a US-China trade deal improved risk sentiment and sapped demand for the safe-haven greenback. The dollar index started the week at 97.74 and continued...
LME aluminium recovered losses last night after dipping low over the day; SHFE continues its flat trend
The US dollar fell against a basket of major currencies, reversing earlier gains. The dollar index, which tracks the greenback against a basket of other currencies, fell 0.16% and ended at 97.31. LME base metals and the SHFE complex mostly fell. LME aluminium gained 0.46% and SHFE aluminium edged...
LME aluminium capped its three days' gain overnight and closed lower; SHFE traded rangebound
The US dollar fell against other major currencies after the US Federal Reserve lowered interest rates for the third time this year and signalled the central bank will pause from here. The dollar index, which tracks the greenback against a basket of other currencies, fell 0.21% and ended at 97.47....
LME aluminium continued the uptrend with limited upward room; SHFE traded rangebound
The US dollar weakened as expectations that the Federal Reserve will cut rates was offset by a potential delay in a US-China trade deal. LME base metals rose across the board while the SHFE complex mostly fell. LME aluminium increased 0.84%, and SHFE aluminium shed 0.29%. Three-month LME aluminium...
LME aluminium opened the week higher on weak dollar; SHFE remains strong on higher premium
The US dollar eased on Monday as growing hopes for a US-China trade deal improved risk sentiment and sapped demand for the safe-haven greenback. The dollar index fell 0.07% and ended at 97.74. LME base metals mostly increased with the SHFE complex trading mixed. LME aluminium rose 0.14% and SHFE...
Alba's gross profit dropped 51% in the first three quarters of 2019 on lower LME price and premium
Alba has released financial results for Q3 2019 and nine months of 2019. The leading aluminium producer’s performance was impacted by lower LME price and premiums in the quarter, which was partially offset by higher sales volume. The company reported a profit and total comprehensive income of...
LME aluminium gained on Friday night; SHFE likely to remain rangebound today
The US dollar and bond yields rose on Friday as the United States said it was close to finalizing parts of a trade deal with China. The dollar index, which tracks the greenback against a basket of other currencies, was up 0.62% for the week with a rise of 0.17% last Friday, ending at 97.83. LME...
Three months LME aluminium dropped at night after a bullish day; SHFE ended higher for the fourth straight day
The US dollar rose against the British pound and the euro, on the back of better-than-expected US manufacturing sector data. The dollar index, which tracks the greenback against a basket of other currencies, climbed 0.2% and ended at 97.66. LME base metals most increased with the SHFE complex...
LME aluminium climbed up yesterday after the last plunge; SHFE aluminium faces resistance at RMB 13,800/t
The US dollar fell against the British pound and the euro after European Union leaders delayed a decision on whether to grant Britain a three-month Brexit extension. LME base metals closed higher overnight, with the SHFE complex trading mixed. LME aluminium gained 0.44%, while SHFE aluminium rose...
LME alumina contract starts trading based on CRU's API and Fastmarkets' FOB Australia alumina index
The London Metal Exchange's alumina contract has started trading last week and multiple lots of 50 tonnes were traded on Thursday 17 October 2019 at US$284 per tonne for November 2019 and US$294 per tonne on the January 2020 contract. The contracts were settled on a basket of CRU's alumina price,...
US dollar's gain depressed LME aluminium overnight; SHFE edged higher on robust consumption
The US dollar continued to rise against the pound and euro as uncertainty spread ahead of the British parliament’s vote on the Withdrawal Agreement Bill which will shine light on when and how Britain will exit the EU. The dollar index, which tracks the greenback against a basket of other...
LME aluminium came off from a high overnight on dollar's gain; SHFE aluminium fell on weak fundamentals
The US dollar recovered earlier losses afternoon as Brexit negotiations were once again thrown into disarray. The dollar index, which tracks the greenback against a basket of other currencies, rose from a nearly three-month low, ending 0.13% higher at 97.33. LME base metals closed mixed while SHFE...
A weak dollar lifted LME aluminium last Friday; SHFE to see limited upward room in the short term
The US dollar headed for its worst week in almost four months. The dollar index, which tracks the greenback against a basket of other currencies, fell for the third consecutive week and ended 0.4% lower at 97.2 last Friday. LME base metals closed mixed as aluminium gained 0.43%. The SHFE aluminium...
LME aluminium ended higher yesterday on falling US dollar; SHFE trades robust on higher consumption
The US dollar fell for a third straight day to the lowest in nearly two months against a basket of other currencies on Thursday, as weak US economic data rekindled fears of an economic slowdown and the European Union and the UK striking a Brexit deal. LME base metals closed higher on Thursday....
Weaker dollar gave support to LME aluminium yesterday, SHFE aluminium traded rangebound
The US dollar weakened for a second straight day to month lows against a basket of its rivals on Wednesday after bleak US retail sales data painted a gloomy picture of the economy and supported the case for further interest rate cuts by the Federal Reserve. LME base metals closed lower on Wednesday...
LME aluminium gained overnight with dollar's fall; SHFE to trade strong on positive fundamentals
The US dollar weakened against a basket of its rivals on Tuesday as expectations for a further easing from the Fed grew amid fading optimism over the latest China-US trade truce. LME base closed higher on Tuesday. Aluminium rose 0.6%. SHFE aluminium gained 0.3%. LME aluminium continued downward...
LME aluminium extends decline on Monday for the second day in a row; SHFE recovered from earlier losses
The US dollar rebounded slightly against a basket of other currencies on Monday, after touching a three-week low on Friday, as details of the partial trade deal between the US and China remained hazy and investors fretted about the ongoing twists and turns on Britain’s exit from the European Union....
