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 plunged on Friday after a temporary gain; SHFE hovers in a tight range
The US dollar weakened on Friday against a basket of other currencies after US President Donald Trump said China and the US reached the first phase of a substantial trade deal that delays tariff hikes that were set to kick in this week. LME base metals, except for aluminium and nickel, drifted...
LME aluminium recovered losses on weak greenback; SHFE ended lower on weak investor interest
The US dollar dropped to a more than two-week low on Thursday against its rivals on optimism over the ongoing US-China trade talks. LME base metals closed higher on Thursday. LME aluminium gained 0.4% and SHFE base metals also drifted mostly higher overnight. Aluminium edged down 0.1%. Three-month...
China to account for global aluminium deficit in 2019; SHFE outperforms LME on falling supply
Shanghai Aluminium prices are outperforming the LME aluminium prices as the falling domestic supply is boosting prices, while weak demand in the rest of the world is putting pressure on the prices. This equation is likely to continue in the medium term. Benchmark LME aluminium price hit its lowest...
LME aluminium closed down yesterday on stronger greenback; SHFE traded rangebound
The US dollar was flat against a basket of other currencies on Wednesday as investors digested a summary of the Federal Reserve’s meeting last month. LME base metals closed mixed on Wednesday. Aluminium dipped 0.03%. The SHFE complex also saw mixed performance overnight. Aluminium declined 0.4%....
LME aluminium continued upward yesterday to close at US$1,744/t overnight; SHFE traded higher on the opening day
The US dollar strengthened against a basket of other currencies on Tuesday as investors monitored the latest news around US-China trade talks and digested comments from the top Federal Reserve official. LME base closed lower on Tuesday and aluminium fell 0.4%. The SHFE complex also traded mostly...
LME aluminium price closed Friday’s trading at US$ 1701.50 /t
Benchmark aluminium price on London Metal Exchange dropped 0.27 per cent to US$ 1701.50 per tonne on Friday, October 4, from US$ 1697 per tonne on October 3. As on October 4, Friday, LME aluminium cash (bid) price stood at US$ 1701 per tonne, LME official settlement price stands at US$ 1701.50 per...
Three months LME aluminium recovered losses yesterday on weak dollar to close at US$1711 per tonne
LME aluminium prices climbed off recent lows on Thursday, boosted by a weaker dollar, as trading was thin due to China’s National Day week long holiday. Three months LME aluminium prices rose 0.4% to $1,711.50 a tonne, from $1,704.85 on Wednesday which was the weakest since early 2017. US dollar...
LME aluminium plunged to record lows on Wednesday; regained some losses overnight on weak dollar
The dollar has nursed losses on Thursday, hitting near one-week lows against the euro and yen, amid signs of a slowdown in U.S. economic growth and a deepening of global trade tensions. Despite the inventory of LME warehouses falling to a multi-year lows and Shanghai Futures Exchange stocks are at...
LME aluminium struggles to stay afloat on higher greenback and lackluster demand; SHFE remains close
A very strong U.S. dollar index that hit a new high for the year overnight is a negative for the base metals markets. Dollar index continues its highs and currently stands at 99.1 putting pressure on LME aluminium. Despite the inventory of LME warehouses falling to a multi-year lows and Shanghai...
Three-month LME aluminium closed lower at US$ 1722.50/t on Monday; SHFE closes for National Day holiday
The US dollar held onto three-week highs against a basket of its rivals on Monday. LME base metals closed mixed on Monday and aluminium dropped further. LME aluminium continued its downturn yesterday. Three-month LME aluminium recovered from a low and finished 0.12% higher at US$1,741 per tonne...
LME aluminium finished higher over the day on Friday night; pre-holiday cautiousness keeps SHFE rangebound
The US dollar held onto three-week highs against a basket of its rivals on Friday, supported by quarter-end rebalancing flows and after the release of mixed economic data. LME base metals closed mixed on Friday. LME aluminium inched up 0.1%, while SHFE aluminium shed 0.3%. Three-month LME aluminium...
LME aluminium continued its decline yesterday; SHFE dropped ahead of National Day holiday
The US dollar extended its gain on Thursday, with the index that measures the greenback against a basket of other currencies nearing a two-year high hit at the start of this month. LME base metals closed lower on Thursday. LME aluminium slipped 0.8% and SHFE aluminium declined 1.1%. Downtrend...
LME plunged further yesterday on stronger greenback; SHFE dropped to the lowest in about six weeks
The US dollar rose to a two-week high of 99.06 against a basket of currencies on Wednesday after the launch of a formal impeachment inquiry against President Donald Trump, while the political uncertainty added to worries about economies strained by the Sino-US trade row. LME aluminium dropped and...
LME aluminium weakened for a third consecutive day; SHFE too extended its losses
The US dollar weakened on Tuesday as Democratic lawmakers called for an impeachment inquiry against President Donald Trump. The dollar index was down 0.3% to 98.33. LME base metals traded lower on Tuesday. LME Aluminium dropped 1.3% and SHFE aluminium lost 0.2%. Three-month LME aluminium weakened...
LME aluminium closed lower at US$ 1756/t; SHFE aluminium gained 0.3%
The US dollar strengthened on Monday, as investors were attracted to its relatively high yield and the strength of the US economy. LME base metals closed mixed on Monday. LME aluminium stayed flat and SHFE aluminium gained 0.3%. LME aluminium closed 0.57% lower at US$ 1756 per tonne on Monday, 23...
Both LME and SHFE aluminium traded in a tight range on Friday night; likely to trade higher today
The US dollar rose against a basket of currencies on Friday, prompted by hopes of progress in US-China trade talks and that the Federal Reserve would not lower rates aggressively. LME base metals closed mixed in Friday. LME aluminium fell 0.5% and SHFE aluminium inched up 0.2%. LME aluminium ended...
Weekly update: LME traded within a close range over the week; SHFE came off from last week's highs
The US dollar rebounded against a basket of currencies on the first day of the week and then fell on Tuesday ahead of an expected US interest rate cut from the Federal Reserve. Though it registered a gain mid-week, the greenback ended the week lower. LME base metals started the week slightly higher...
LME aluminium rebounded to a three-day high yesterday; SHFE recovered losses on consumption recovery
The US dollar dipped against a basket of currencies on Thursday after the US Federal Reserve Wednesday cut interest rates by 25 basis points. LME base metals closed mixed on Thursday. LME aluminium gained 0.2%, while aluminium inched up 0.2%. LME continued its upward momentum yesterday. Three-month...
