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 ended lower overnight as dollar rose to two-week highs; SHFE on a downtrend on slow consumption
The US dollar rose to two-week highs as US-China trade tensions eased after the world’s two largest economies agreed to restart trade talks. Base metals ended mostly lower. LME aluminium dipped 0.14% and SHFE aluminium went down 0.83%. LME cash and three months aluminium closed higher during the...
Both LME and SHFE aluminium continued downward trend on Friday night; likely to rise today on positive trade talks
The US dollar edged lower last Friday, as US economic data confirmed the likelihood of a July interest rate cut. Base metals ended mostly lower. LME aluminium fell 0.25% and SHFE aluminium fell 0.25%. Three-month LME aluminium failed to stand firm at a high of US$1,812.5 per tonne and lost all the...
LME aluminium lost gains and closed 1.1 % lower on Thursday; SHFE followed suit
The US dollar held steady after it recovered from recent lows on Thursday as the market awaited the long-awaited trade talks between China and the US at the G-20 summit this weekend. LME base metals ended mostly higher but aluminium lost 0.9%. SHFE aluminium fell 0.5%. Three-month LME aluminium...
LME aluminium closed higher on Wednesday; SHFE likely to trade at RMB13,800-14,100/t
The US dollar bounced from a three-month low as investors tempered expectations for aggressive rate cuts by the Federal Reserve. Base metals closed lower for the most part. LME aluminium gained 0.1% and SHFE aluminium edged down. Three-month LME aluminium retreated after pessimism around...
LME aluminium closed 1.6% higher yesterday on positive macroeconomic sentiment; SHFE struggles at RMB 14,000/t level
The dollar index, which measures the greenback against six major currencies, rebounded from a more than three-month low and gained 0.21% on the day to end at 96.185. Base metals traded higher for the most part as LME aluminium increased 0.7% and SHFE aluminium went up 0.3%. Upbeat macroeconomic...
Both LME and SHFE aluminium regained some losses yesterday on falling dollar; to trade rangebound today
The US dollar continued to decline against a basket of major currencies as investors remained cautious about the greenback in face of potential interest rate cuts. The dollar index dipped to the lowest since March 21 and closed at 95.985. LME base metals increased across the board. LME aluminium...
Both LME and SHFE aluminium lost earlier gains on Friday; likely to trade lower in absence of positive fundamentals
The US dollar fell against its major rivals last Friday after the US decision to cut interest rates to support flagging economic growth. Base metals ended mostly lower. LME aluminium dropped 0.8% and SHFE aluminium fell 0.5%. Three-month LME aluminium failed to hold firm at a high of US$1,780 per...
LME aluminium surged higher yesterday on falling greenback; likely to face resistance at US$1,800 per tonne level
The US dollar index extended its sharp decline on Thursday. LME base metals closed higher across the board on Thursday and aluminium gained 0.2%. However, SHFE base metals traded lower and aluminium declined 0.4%. LME aluminium surged higher with the decline of greenback and closed yesterday’s...
LME aluminium recovered some losses yesterday on falling greenback; SHFE remains rangebound
The US dollar dropped on Wednesday after the US Federal Reserve left interest rates unchanged. LME base metals closed mixed on Wednesday and aluminium inched up close to 0.1%. SHFE base metals performed and aluminium advanced 0.4%. LME aluminium gained yesterday with dollar’s loss and closed the...
LME aluminium closed higher yesterday after two consecutive losses; SHFE follows upward trend
The US dollar index inched up on Tuesday with the fall of euro. LME and SHFE base metals traded higher across the board after a "very good" telephone conversation between Donald Trump and Xi Jinping on Tuesday night. LME aluminium gained 1.1% on Monday and SHFE aluminium advanced 0.6% overnight....
LME aluminium continues downward trend; SHFE closed flat on weak fundamentals
The US dollar index was little changed on Monday as investors awaited this week’s crucial US Federal Reserve meeting. LME base metals closed mixed on Monday and aluminium nudged up. SHFE base metals performed similarly and aluminium stayed flat. LME continued its downward trend on the first day of...
Both LME and SHFE aluminium fell below moving average on Friday night; likely to trade lower today
The dollar index surged on Friday as encouraging US retail sales data for May eased fears of a slowing economy. With weak manufacturing and investment data from China, LME base metals closed lower on Friday, with the biggest loss of 1.6% in aluminium. SHFE base metals also traded lower and...
LME and SHFE aluminium performed mixed over the week to end lower on Friday; likely to trade rangebound next week
The US dollar started the week higher on Monday, June 11 but, dipped on Tuesday. Then it continued moving up and down leading to a mixed performance by LME and SHFE base metals over the week. Finally the dollar index ended the week higher on Friday. LME aluminium started the week with US$ 1720.5...
Both LME and SHFE aluminium fell below daily moving average overnight with rising greenback; to trade rangebound today
The US dollar rose on Thursday on Donald Trump’s slightly positive tone on the US-China trade war Wednesday despite the threat of increased tariffs. Growing expectations of an interest rate cut limited gains in the greenback. LME base metals closed mixed while aluminium edged down. SHFE base metals...
Improved market sentiment pulled up three months LME aluminium from the previous day; SHFE to trade rangebound
The US dollar index rose on Wednesday, even as government data showed moderate US inflation in May. Most LME base metals closed lower on Wednesday but aluminium advanced 0.5%. SHFE base metals performed similarly overnight and aluminium inched up. Improved market sentiment bolstered three-month LME...
LME aluminium crawled up yesterday after three consecutive declines; SHFE declined overnight
The US dollar index dipped on Tuesday on higher US interest rates. Bolstered by hopes that China will pump money into building metals-intensive infrastructure, LME base metals closed higher across the board on Tuesday. LME and SHFE aluminium crept up slightly. Three-month LME aluminium climbed to...
Both LME and SHFE aluminium continued downward yesterday; recovered some losses overnight
The US dollar recovered on Monday as the US and Mexico reached a deal to avoid tariffs. Most LME base metals closed higher on Monday and aluminium rose 0.9%. Most SHFE base metals also ticked up overnight and aluminium gained 0.3%. Three-month LME aluminium rebounded from an intraday low of...
LME aluminium dropped on Friday night; both LME and SHFE are likely to trade within a lower range today
The US dollar dropped on Friday on disappointing US nonfarm payroll figures. LME base metals, except for tin, closed lower on Friday and aluminium fell 0.8%. The SHFE remained closed from Thursday night for the Dragon Boat Festival and will reopen today. Three-month LME aluminium fell to a low of...
