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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Nalco, Hindalco and Vedanta raised their ingot prices on July 19 following rise in LME aluminium price
The rates of National Aluminium Co Ltd's aluminium ingots are at their highest level in two months after the company hiked the prices of these products on Friday. The government-owned aluminium maker has raised the prices of these products by 1% in the domestic market. This was following the recent...
Weekly highlight: Both LME and SHFE traded upward on positive fundamentals; LME aluminium reached two months high
Poor summer trades bolstered the US dollar in the beginning of this week. It gained further as surprisingly strong growth in US retail sales in June eased out uncertainties. The index started softening from mid-week and slid to 96.696 towards the end. Improved macroeconomic sentiment buoyed most...
Falling US dollar buoyed LME aluminium yesterday to a two month's high; SHFE followed upward trend
The US dollar extended its losses against the euro, yen and other major currencies and the dollar index slid 0.54% and ended at 96.696. Base metals traded mostly higher. LME aluminium rose 0.2% and SHFE aluminium climbed 0.25%. Three-month LME aluminium registered the sixth consecutive trading day...
LME aluminium continued upward for the third consecutive day; SHFE September contract regained losses
The US dollar softened on lower US bond yields and expectations that the Federal Reserve would cut interest rates. The dollar index fell 0.17% and ended at 97.217. LME base metals traded higher across the board. Aluminium advanced 0.2% and SHFE aluminium lost 0.4%. Three-month LME aluminium rose...
LME aluminium faced resistance overnight on rising dollar after trading higher during the day; SHFE regained some losses
The US dollar gained as surprisingly strong growth in US retail sales in June eased worries about the American economy. Base metals ended mostly higher. LME aluminium nudged up, while SHFE aluminium rose 0.1%. Aluminium contracts continued upward movement over the day’s trading yesterday....
Improved macroeconomic sentiment buoyed LME and SHFE aluminium yesterday; likely to continue the trend today
Poor summer trades bolstered the US dollar yesterday. Base metals ended mostly higher. LME aluminium climbed 0.8% and SHFE aluminium went up 0.3%. Improved macroeconomic sentiment buoyed most base metals yesterday. All LME aluminium contacts settled over US$ 1800 per tonne mark. Three-month LME...
Both LME and SHFE aluminium gained during Friday night on a weak dollar; likely to trade rangebound today.
The US dollar fell for the third consecutive day last Friday and the dollar index fell 0.26% and ended at 96.826. Base metals closed mostly higher. LME aluminium increased 0.4% and SHFE aluminium grew 0.3%. Both LME aluminium cash and three months contract registered a decline during Friday’s...
LME aluminium lost gains from the previous day overnight; SHFE under pressure in absence of cost support
The US dollar slipped to a week-low after Federal Reserve Chair Jerome Powell’s downbeat comments on the US economy bolstered expectations of an interest rate cut later this month. Base metals ended mixed. LME aluminium fell 1.57%, and aluminium fell 0.72%. Three-month LME aluminium cut gains from...
Vedanta increases aluminium ingot prices effective July 11 with the rise in LME aluminium price
Vedanta Ltd has raised prices of aluminium ingots today registering a rise for two consecutive days in a row. Vedanta has increased the price of P1020/ EC Grade Ingot with 99.7% purity to INR 143000 per tonne effective from today, July 11 from INR 141250 per tonne on July 9. Last increase took...
LME aluminium climbs up on the news of closure of Aluminij Mostar smelter; SHFE follows trend
The US dollar fell 0.47%, to a three-day low of 97.03. Base metals closed mostly higher. LME aluminium advanced 1.62% and SHFE aluminium grew 1.05%. The news of closure of Aluminij Mostar smelter buoyed LME aluminium. As the US dollar weakened, three-month LME aluminium advanced 1.62% to finish at...
Three months aluminium registered significant gain last night to close at US$1,820.5/t; SHFE remained flat
The US dollar continued to climb against its major rivals yesterday. Base metals ended mixed. LME aluminium climbed 0.89% and SHFE aluminium went flat. LME aluminium traded flat yesterday. Three-month LME aluminium registered slight gain during the day but outperformed most other base metals as it...
Three months aluminium drops on loss of confidence in longs; SHFE remains rangebound and conosolidated
The US dollar held on to gains from last Friday, hovering at a three-week high, as investors continued to reappraise the Federal Reserve interest rate outlook in the wake of last week's nonfarm payrolls report. Base metals traded mixed. LME aluminium closed flat and SHFE aluminium gained 0.11%....
A higher dollar put pressure on LME aluminium on Friday night; SHFE trades rangebound in absence of cost support
The US dollar traded sharply higher against all of the major currencies on the back of Friday's non-farm payrolls report and climbed to the highest in two-and-a-half weeks, to 97.446. Base metals ended mostly lower. LME aluminium dipped 0.28% and SHFE aluminium eased 0.07% during Friday night....
Weekly highlight: LME aluminium ended the week higher and SHFE traded within a close range; no significant gains likely
The US dollar rose to two-week highs at the beginning of the week as US-China trade tensions eased after the world’s two largest economies agreed to restart trade talks. The dollar index then continued to edge lower from recent highs over the week sliding down to 96.735. LME base metals started the...
Both LME aluminium and the most-traded SHFE August contract recovered losses yesterday; likely to trade higher today
The dollar continued to edge lower from recent highs and the euro was stuck near two-week lows on Thursday. The US dollar index slid 0.05% to end at 96.735. Base metals ended mostly higher. LME aluminium climbed 1.15% and SHFE aluminium advanced 1.13%. Thursday saw some bullish trading of LME...
LME aluminium climbed up overnight on weak dollar; SHFE continues to hover in a tight range
The US dollar edged lower as President Donald Trump said in a tweet that the US should match China and Europe’s “currency manipulation game.” The US dollar index slid 0.02% to end at 96.76. After the day’s trading LME aluminium closed slightly lower from the previous day yesterday. As the US dollar...
LME aluminium closed lower yesterday after a temporary gain; SHFE to test support at RMB 13,500 per tonne
The US dollar slipped from two-week highs as the boost from easing trade tensions between the US and China faded and ended 0.07% lower at 96.765. Base metals ended mostly lower. LME aluminium dropped 0.67% and SHFE aluminium dipped 0.4%. As base metals mostly weakened overnight, three-month LME...
Alba unveils Arab International Aluminium Conference 2019 key industry topics
Aluminium Bahrain B.S.C. (Alba), one of the 1 million-metric tonnes smelters in the world, reportedly reveals some of the key industry topics that will be addressed in the 23 rd edition of the Arab International Aluminium Conference (Arabal) 2019. Arabal will take place from November 19 to November...
