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 yesterday with dollar's gain; SHFE likely to trade higher on positive fundamentals
The US dollar was modestly higher against the yen on Wednesday. The dollar index rose 0.21% to 98.21. LME base metals closed mixed and SHFE metals ended mostly higher. LME aluminium fell 0.62% and SHFE aluminium increased 0.24%. LME aluminium plunged during yesterday’s trading. Three-month LME...
LME aluminium closed lower on Tuesday with rising dollar; SHFE traded robust with fundamental support
The US dollar held onto gains from the previous session as risk aversion eased on trade hopes and better economic data. The dollar index held above 98 and finished at 98.01. Base metals closed mixed. LME aluminium fell 0.42% and SHFE aluminium advanced 0.28%. After the bank holiday on Monday at...
Chalco’s net profit dropped by 14.1% YoY in H1 2019 on higher operating costs and lower aluminium prices
According to Reuters report, the net profit of Aluminium Corporation of China Limited, popularly known as Chalco, fell by 14.1 per cent year-on-year in the first half of 2019, attributing to higher costs that offset an increase in revenue. As per the report, Chalco’s net income came in at RMB 705.8...
LME remained closed on August 26 for Summer Bank Holiday; SHFE aluminium closed flat on easing of trade tension
The US dollar recovered on Monday from overnight losses after the US and China sought to ease trade war tensions. President Donald Trump said negotiations with Chinese officials would restart soon. Vice Premier Liu He, who has been leading the talks with Washington, said China was willing to...
LME aluminium closed higher after higher Chinese tariff announcement on American goods; SHFE remains flat
The US dollar dipped broadly on Friday after President Donald Trump ordered US companies to start looking for an alternative to China after Beijing imposed more tariffs on American goods. China announced retaliatory tariffs against about US$75 billion worth of US goods, putting as much as an extra...
Supply concerns pushed China aluminium prices to a nine-month high this week; LME traded weaker
Disruptions in two of the Chinese primary aluminium smelters pushed SHFE aluminium prices to a nine-month high this week. Though the exact status of both plants is uncertain, there have been enough speculation and the market is buzzing with a potential supply squeeze. A media report last week said...
LME aluminium extended its decline yesterday despite dollar's gain; SHFE lost gains influenced by its counterpart
The dollar fell but moved within narrow ranges yesterday. The dollar index slipped some 0.1% and finished at 98.22. Base metals closed lower across the board. LME aluminium slid 0.7%. SHFE aluminium lost 0.5%. Three-month LME aluminium extended its declines overnight and fell to a low of US$1,774.5...
LME aluminium traded lower yesterday; SHFE off slightly on signs of supply recovery
The dollar rose against the safe-haven yen and Swiss Franc yesterday. The dollar index rallied some 0.15% and finished at 98.3. LME base metals closed mixed while SHFE metals ended mostly higher. LME aluminium fell 0.3%, and SHFE aluminium edged lower. LME traded lower yesterday with the contracts...
Aluminium import surge in India hurts domestic production during April-June quarter – Source says
According to a recent report, a 7 per cent growth in aluminium demand in India during April-June quarter of the financial year 2019-20 failed to boost production as consumption remained moderate in industries facing liquidity crunch. Sales of aluminium companies also fell by 10.8 per cent in that...
Three-month LME aluminium closed 0.5% lower last night; SHFE aluminium dips 0.4%
The US dollar fell with the drop in Treasury yields and the dollar index lost close to 0.2% and finished at 98.16. LME and SHFE base metals closed lower for the most part despite a weakened US dollar. LME aluminium fell 0.5% and SHFE aluminium dropped 0.4%. Three-month LME aluminium came off after...
LME aluminium lost previous gains on Monday night; SHFE soared on news of production suspension in Xinjiang
The US dollar rose to its highest level since August 1 and the dollar index gained close to 0.2% and finished at 98.38 yesterday. LME base metals fell for the most part while SHFE metals closed mostly higher during night trading. SHFE aluminium climbed 0.8% and LME aluminium fell 0.2%. Three-month...
LME aluminium gained during Friday night on weak dollar; SHFE underperformed after the saturation of supply concerns
The US dollar lost gains from earlier trades and ended roughly flat on last Friday, after worries tied to trade tensions and a Federal Reserve rate cut weighed on consumer sentiment. LME base metals closed mixed while SHFE metals fell for the most part. LME aluminium gained 0.6% and SHFE aluminium...
Weekly highlight: A robust dollar kept LME aluminium under pressure; SHFE traded higher on supply worries caused by typhoon
The US dollar index edged down in the beginning of the week amid trade tensions between the US and China and concerns of slowing global economic growth. The dollar then started strengthening over the week and rose to 98.14. LME base metals traded mostly lower during the week. SHFE aluminium traded...
En+ records Q-o-Q increase in revenue in Q2 2019 on improved aluminium sales; Revenue in H1 remains down
En+ Group, a leading vertically integrated producer of aluminium and electricity, announced in its financial results that the revenue in the first half of the year decreased by 5.4 per cent to US$5.8 billion, compared to the same period last year. Adjusted EBITDA decreased by 30 per cent to US$1.2...
Both LME and SHFE aluminium closed higher than the previous closing yesterday; likely to trade rangebound today
The US dollar rose on Thursday to 98.14, as better-than-expected US retail sales data eased fears that the US economy could be headed for a recession. LME base metals closed mixed overnight. LME aluminium nudged up 0.03% and SHFE aluminium inched up 0.1%. LME aluminium gained during day’s trading...
LME aluminium dipped overnight yesterday with rising US dollar; SHFE likely to trade rangebound
US Treasury bond yield curve inverted for the first time since 2007 on Wednesday, which sparked fears of an economic recession and led to a plunge on Wall Street. The US dollar index rose 0.16% to 97.98. LME base metals closed lower on Wednesday. LME aluminium dipped 0.06% and SHFE aluminium rose...
Three-month LME aluminium rallied overnight to US$1,785.5/t; SHFE fell on easing out of typhoon impact on supply
The US dollar strengthened on Tuesday, after the US decided to delay tariffs on certain Chinese goods while outright removing some items from the tariff list, reigniting hopes that Washington and Beijing could reach a resolution. Signs of easing US-China trade tensions also bolstered oil prices and...
Monday saw a plunging LME aluminium and climbing SHFE contract; trend is likely to continue today
The US dollar index edged down on Monday, amid trade tensions between the US and China and concerns of slowing global economic growth. LME base metals closed mixed on Monday. LME aluminium slipped 0.2% and SHFE aluminium rose 0.9%. LME aluminium contracts closed the day’s trading lower on Monday....
