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 recovered some losses yesterday to close at US$1,792/t overnight; SHFE consolidates after a bullish phase
The US dollar strengthened on Wednesday after the Federal Reserve cut interest rates as expected, but failed to signal more easing in 2019. LME base metals closed mixed on Wednesday with aluminium dipping 0.06%. SHFE base metals performed similarly overnight and aluminium lost 0.5%. Three-month LME...
LME plunged below its early September level yesterday; SHFE moves within 20-day moving averages
The US dollar fell on Tuesday ahead of an expected US interest rate cut from the Federal Reserve. LME base metals, except for aluminium, closed lower on Tuesday. SHFE aluminium rose 0.2%. After a weeklong upward movement, LME has started its downturn to a level below early September. Three-month...
Higher greenback pushed LME aluminium down on Monday night; SHFE came off from highs after the holidays
The US dollar rebounded against a basket of currencies on Monday. LME base metals dropped on Monday, on growing concerns about demand in China after the release of bleak economic data. LME aluminium fell 1.4% and SHFE aluminium declined 0.6%. The SHFE /LME cash aluminum ratio registered at 8.13,...
With dollar's decline, LME aluminium regained some losses during Friday night; SHFE opens today after the holidays
The US dollar index extended its decline on Friday, after briefly hitting a high of 99.109 on Thursday. The European Central Bank on Thursday cut its deposit interest rate by 10 basis points to a record low of minus 0.5%. LME base metals rose on Friday and aluminium advanced 1.1%. The SHFE closed...
LME proposes longer warehouse queues for loading out metal; consumers fear higher cost for aluminium
London Metal Exchange is planning to allow long queues for loading out metal in warehouses. Metal industry analysts believe this will boost profits for LME warehouses by holding metal for longer, but consumers will pay higher costs for metal. Consumers have opposed the change in rules. LME...
Three-month LME aluminium continued downward to close at US$ 1809 per tonne yesterday; SHFE likely to stay high next week
The US dollar index receded slightly to end at 98.3. LME base metals closed mostly lower while SHFE metals grew for the most part yesterday. LME aluminium traded lower over the day. Three-month LME aluminium came off from highs as shorts added their positions and continued the trend to close lower...
LME aluminium continued higher during day's trading but a higher dollar pulled it down at night; SHFE traded higher
The US dollar regained losses from the previous five sessions, buoyed by an unexpected increase in US producer price for August. The dollar index gained 0.3% to end at 98.63. President Donald Trump on Wednesday tweeted that he will be delaying the increased tariffs on $250 billion in Chinese goods...
Weak US dollar helped LME aluminium pare losses yesterday; SHFE remains bullish on news of Indonesia's bauxite export ban
The US dollar weakened against sterling. The dollar index pared some losses and ended 0.08% lower at 98.33. Base metals closed mixed. SHFE aluminium lost 0.1% and LME aluminium grew 1%. Three-month LME aluminium surged during the Asian trading session on market talk that Indonesia will expedite its...
LME aluminium closed the week slightly lower on Friday night; SHFE continues strong on lower inventory
The US dollar was marginally lower on Friday against a basket of currencies, holding above a one-week low. Base metals ended mostly lower. LME aluminium lost 0.5% and SHFE aluminium dropped 0.4%. LME aluminium closed the week higher with the falling dollar. Three-month LME aluminium pulled back a...
Weekly update: LME recovered from a depressing week; SHFE traded strong on consumption recovery
The US dollar continued to rise to a more than two-year high of 99.13 on expectations of an upcoming interest rate cut by the Federal Reserve. After holding it for two days, the dollar dropped 0.55% against a basket of major currencies, to 98.38, marking its biggest one-day loss in three months....
Three months LME aluminium continued recovering from lows and shot higher at US$1,793/t last night; SHFE closed higher
The US dollar held its earlier losses against a basket of currencies as payroll processor ADP said US private hiring came in stronger than expected in August, while it revised lower its job reading for July. Three-month LME aluminium closed higher for the third consecutive trading day as departing...
A lower US dollar boosted LME aluminium yesterday to a high of US$1,769.5/t; SHFE continues to remain strong
The safe-haven US dollar fell against sterling yesterday. The dollar ended down 0.55% against a basket of major currencies, at 98.38, marking its biggest one-day loss in three months. Both LME and SHFE base metals rose across the board on a weaker US dollar. A lower US dollar boosted LME aluminium...
Downturn continues for LME aluminium and the contract plunged further to US$ 1714.50 per tonne; SHFE remained firm
The US dollar barely changed against a basket of currencies, underpinned by safe-haven demand amid worries about US-China trade tensions and a chaotic British exit from the European Union. LME aluminium is seeing one of the lowest periods in last three years. Three-month LME aluminium continued its...
US dollar rose to a more than two-year high to depress LME aluminium further yesterday; SHFE remains strong
The US dollar continued to rise to a more than two-year high of 99.13 on expectations of an upcoming interest rate cut by the Federal Reserve. LME base metals mostly dipped while SHFE metals closed higher for the most part. LME aluminium lost 0.46% and SHFE aluminium grew 0.11%. Three-month LME...
Three month LME aluminium gained for two consecutive days to close higher on Friday night; SHFE traded mixed
The US dollar index rose last Friday to the highest since May 2017. The offshore Chinese yuan headed toward its biggest monthly decline in 25 years as the two countries prepared for the implementation of new tariffs on Sunday. LME base metals closed mixed while SHFE metals ended mostly lower. LME...
Global producer asks for $110/t aluminium premium from Japanese buyers for Q4 2019
According to the Reuters report, a global aluminium producer has offered Japanese buyers a premium of $110 per tonne for primary metal shipments during October-December quarter. This premium is higher by 2 per cent than that in the current quarter. The news came after five sources directly involved...
Weekly update: LME saw a depressing week on higher dollar and tariff concerns; SHFE traded flat but remained strong
The US dollar index edged up in the beginning of the week after the US and China sought to ease trade war tensions and started with at 98.38. The dollar remained strong over the week. LME base metals traded mostly weaker during the week. SHFE aluminium traded strong due to positive fundamentals....
Three months LME aluminium rebounded overnight to US$1,754/t after continuous decline; SHFE remained flat
The US dollar was modestly higher as news that Washington and Beijing were discussing negotiations in September eased anxieties about the ongoing trade war. LME base metals closed mixed while SHFE metals ended mostly lower. LME aluminium gained 0.29% and aluminium fell 0.25%. LME continued its...
