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 aluminium registered drop on Monday to close at US$1,774/t; SHFE inched up
The US dollar index slipped on Friday, lowered by fresh concerns about an economic slowdown. LME base metals closed lower on Friday and aluminium shed 0.4%.SHFE aluminium inched up 0.04%. Three-month LME aluminium dipped to a low of US$1,770 per tonne on Friday, and ended at US$1,774 per tonne,...
LME aluminium regained losses yesterday after a plunge; SHFE bullish on alumina capacity cut and expected consumption rebound
The US dollar edged higher on Thursday, as a lull in US-China trade turbulence, and better-than-expected data boosted risk appetite. On Thursday, China reported trade data that was better than expected despite mounting economic pressure from elevated US tariffs. LME base metals finished the trading...
LME aluminium plunged to a two years low yesterday; SHFE likely to strengthen up in the short term
The US dollar inched up on Wednesday as investors turned to safe havens on growing concerns about the weak global economy after New Zealand’s central bank cut interest rates by more than expected. LME base metals closed mixed on Wednesday. LME aluminium shed 0.2% and SHFE aluminium lost 0.3%. LME...
LME aluminium fell overnight after the news of operation resumption at Achinsk alumina; SHFE likely to pick up in the short term
The US dollar rebounded from earlier lows on Tuesday, after China's central bank said that it would not use currency as a tool to deal with trade disputes. China on Monday let its currency weaken past 7 to the dollar, its lowest level since the 2008 financial crisis, which led the US to label...
Three-month LME aluminium plunged to a seven-week low of US$1,760/t on Monday; SHFE likely to remain rangebound
The US dollar slipped to near a two-week low against key rivals on Monday, while the Chinese yuan weakened below 7 versus the greenback, an 11-year low, as the US-China trade war intensified. Most LME base metals closed lower on Monday. LME aluminium lost 0.4% while SHFE aluminium rose 0.4%....
LME and SHFE aluminium continue the downward trend started last week; the trend is likely to continue in the short term
The US dollar fell on Friday as slower US employment growth in July and escalated US-China trade tensions fuelled expectations that the Federal Reserve would cut interest rates again in September. LME base metals closed lower on Friday. LME aluminium shed 0.2% and SHFE aluminium edged down 0.04%....
Weekly highlight: A robust dollar kept LME and SHFE aluminium under pressure over the week; trend likely to continue
The US dollar held near a two-month high in the beginning of the week as investors await the latest monetary policy decision from the Federal Reserve as well as developments from US-China trade talks. The US dollar sharply rose on Wednesday, hitting a two-year high against a basket of other...
Century Aluminium’s net sales dropped 3% over the quarter in Q2 2019; Adjusted EBITDA declined by over 70%
The US-based global aluminium producer Century Aluminium, on August 1, announced that its net sales for the second quarter of 2019 declined 3 per cent over the quarter to come in at $473.1 million. In Q1 2019, the company’s net sales were at $490 million. It reported a net income loss of $20.7...
Both LME and SHFE aluminium plunged yesterday in absence of positive fundamentals; likely to trade lower today
The US dollar came off from highs after the US President Donald Trump threatened China with a new 10% tariff. Donald Trump tweeted on Thursday that, starting September 1, the US will impose a 10% tariff on $300 billion of Chinese goods. Base metals fell for the most part. LME aluminium dipped 1.2%...
A rising dollar took a toll on LME and SHFE aluminium prices on Wednesday; likely to close lower today
The US dollar sharply rose on Wednesday, hitting a two-year high against a basket of other currencies and the index gained 0.5% to end at 98.554. LME base metals closed mixed on Wednesday. LME aluminium lost close to 0.3% and SHFE base aluminium slipped 0.2%. The stronger greenback took a toll on...
Three months LME aluminium underperformed overnight after a rise in day's trading; SHFE likely to remain strong
The US dollar traded rangebound on Tuesday as investors awaited the latest interest rate decision from the Federal Reserve and the index inched up 0.01% to 98.066. LME base metals closed lower across the board on Tuesday. LME aluminium declined 0.6% and SHFE aluminium traded lower overnight....
LME aluminium traded weak on Monday regaining some losses overnight; SHFE aluminium remains rangebound
The US dollar held near a two-month high on Monday as investors await the latest monetary policy decision from the Federal Reserve as well as developments from US-China trade talks. Most LME base metals closed higher on Monday. LME aluminium advanced 0.4%, while SHFE aluminium gained 0.5%. LME...
LME aluminium ended lower on Friday after a flat run over the week; a rangebound pattern likely for LME and SHFE this week
The US dollar climbed to two-month highs on Friday after data showed that the world’s largest economy slowed less than expected in the second quarter. The US dollar index rose 0.22% to 97.996. LME base metals closed lower on Friday. LME aluminium tumbled 1.1% and SHFE aluminium lost 0.2%....
LME aluminium closed flat during the day's trading but ended higher at night, falling inventory supports SHFE prices
The US dollar strengthened on Thursday, with the index against a basket of other currencies hitting the highest since the end of May after a batch of generally positive US economic data. The US dollar index inched up 0.09% to 97.785. LME base metals closed mixed on Thursday. LME aluminium gained...
Both LME and SHFE aluminium closed flat yesterday over Tuesday's closing; likely to trade in a close range today
The US dollar was flat against a basket of currencies on Wednesday, recovering from losses from downbeat US factory activity data. LME base metals closed higher across the board on Wednesday. LME aluminium climbed 0.2% and SHFE aluminium gained 0.1% and zinc inched up 0.03%. Three-month LME...
LME and SHFE traded lower yesterday but rallied slightly at night; a rising greenback will put pressure on the contracts today
The US dollar rose on Tuesday to near a five-week high the US dollar index closed at 97.689. Boris Johnson, who promised to withdraw the UK from the European Union with or without deal by the end of October, will replace Theresa May as Britain’s new prime minister. This will have a further bearing...
Both LME and SHFE registered a drop on Monday after a week of rise; rising greenback will keep prices rangebound today
The US dollar inched up on Monday as investors tempered expectations for an aggressive Federal Reserve interest rate cut later this month. LME base metals, closed lower on Monday. Aluminium tumbled 1.8% and SHFE aluminium shed 0.6%. Three-month LME aluminium slipped 1.81% to close at US$1,813.5 per...
LME and SHFE aluminium erased earlier gains on Friday night; likely to trade rangebound today
The US dollar rebounded on Friday after dropping on Thursday. LME base metals closed mixed on Friday. LME aluminium declined 0.2% while SHFE aluminium sank 0.3%. Three-month LME aluminium dropped on Friday night after climbing to a more-than two-month high of US$1,866 per tonne, and closed 0.22%...
