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 $3,353/t; stocks remain unchanged at 244,525t
The LME aluminium price moved higher on September 9 compared with the previous trading day, with cash and three-month aluminium prices recording gains, while total warehouse stocks remained unchanged. On September 9, the LME aluminium cash bid price stood at USD 3351.5 per tonne, up USD 27.5 per...
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LME aluminium price traded lower at US$ 1742.50 /t; SHFE aluminium fell 0.82%
Benchmark aluminium price on London Metal Exchange declined 1.33 per cent from the previous day and closed at US$ 1742.50 per tonne on Thursday, June 6, 2019. As on June 6, Thursday, LME aluminium cash (bid) price stood at US$ 1742 per tonne, LME official settlement price stands at US$ 1742.50 per...
Rising US dollar put pressure on LME aluminium overnight after a gain during day's trading; to trade rangebound today
The US dollar recovered from earlier losses on Wednesday as stronger-than-expected US services sector growth countered weak jobs data. LME base metals closed lower and aluminium dropped over 1%. SHFE aluminium declined close to 0.3%. The LME cash contract closed Wednesday’s trading higher at US$...
Three months aluminium gained overnight on weak greenback; SHFE likely to trade rangebound today
The US dollar dipped on Tuesday after comments from Federal Reserve Chair Jerome Powell fuelled expectations of a cut in interest rates. LME base metals closed mixed on Tuesday. Aluminium climbed 0.6%. SHFE base metals also saw mixed performance overnight. Aluminium traded marginally lower. After...
Tiwai Point smelter’s net profit down NZ$53 million in 2018
Pacific Aluminium (New Zealand) Limited (PacAl NZ), a subsidiary of Rio Tinto, has reported its interest in the Tiwai Point smelter operated by New Zealand Aluminium Smelters Limited (NZAS). Smelter’s underlying earnings came in at NZ$22 million in 2018, down NZ$53 million from NZ$75 in 2017. This...
LME aluminium started the week higher; SHFE registers a decline
The US dollar sharply extended its declines on Monday. LME base metals closed mixed on Monday, and aluminium dropped 1.1%. SHFE base metals performed similarly, and aluminium declined 0.6%. Three-month LME aluminium fell below the five- and 10-day moving averages to close the trading day 1.11%...
LME aluminium closed higher at Friday night; both LME and SHFE likely to trade rangebound today
The US dollar fell sharply on Friday after US President Donald Trump threatened new tariffs on Mexico. Most LME base metals traded lower on Friday, and aluminium advanced 0.7%. SHFE base metals traded mixed on Friday night and aluminium stayed flat. Three-month LME aluminium jumped to an intraday...
Both LME and SHFE traded downward last week on higher greenback and slow consumption; trend likely to continue next week
The US dollar recovered some ground on Monday May 27 and continued to hover at a higher range over the week amidst US-China trade tension. LME aluminium registered a declining trend throughout the week. After a holiday on Monday May 27, the LME aluminium cash contract started the week with US$ 1773...
LME aluminium closed 0.45% lower at US$ 1762/t; SHFE registers a drop
The US dollar came off from earlier highs on Thursday. LME base metals closed mixed on Thursday and aluminium fell 0.8%. SHFE base metals traded lower overnight and aluminium lost 0.2%. Three-month LME aluminium dropped 0.84% on Thursday to close at US$1,781 per tonne. LME aluminium inventories...
Both LME and SHFE aluminium traded lower yesterday on rising dollar and expectation of falling input cost
The US dollar extended its gains on Wednesday amidst US-China trade tension. LME base metals closed lower on Wednesday and aluminium shed 0.4%. SHFE base metals performed similarly and aluminium lost 0.5%. Despite a 23,550 tonne decline in LME aluminium stocks, three-month LME aluminium declined...
LME aluminium closed higher after the holiday; Mexico's provisional duties on Chinese aluminium foil to impact market today
The US dollar extended its rebound on Tuesday, driven by trade and political concerns as well as a strong rise in American consumer confidence. LME base metals closed mixed on Tuesday after the long weekend. Aluminium inched up close to 0.1%. Most SHFE base metals traded lower overnight but...
Capacity cut news in Henan supported SHFE aluminium yesterday; LME remained closed on Monday
The US dollar recovered some ground on Monday, as market holidays in Britain and the US muted trades. Most SHFE base metals traded higher overnight but aluminium dipped close to 0.1%. LME remained closed yesterday. As on May 21, Friday, LME aluminium cash (bid) price stood at US$ 1761 per tonne,...
Both LME and SHFE aluminium ended the week higher; likely to trade rangbound today
The US dollar index extended its declines on Friday as disappointing data of US durable goods orders grew worries that the trade conflict with China may have slowed the growth of the world’s largest economy. LME base metals traded higher on Friday. Aluminium rose 0.3%. SHFE aluminium advanced 0.5%....
Declining inventory pulled up LME aluminium overnight after the day's fall; positive fundamentals support SHFE
The US dollar declined from a two-year high as weaker domestic data and the threat of economic fallout from the trade war with China grew expectations for an interest-rate cut this year. Base metals ended mixed as LME aluminium jumped 0.84 and SHFE aluminium expanded 0.39%. Three months aluminium...
Falling LME aluminium pulled down its SHFE counterpart yesterday; both the contracts are likely to trade lower today
The US dollar index firmed near a one-month peak, hovering around 98, after the May Federal Open Market Committee (FOMC) meeting. Base metals declined across the board. SHFE aluminium fell 0.49% and LME aluminium dropped 0.7%. Three months LME aluminium slipped to a low of US$1,776.5 per tonne and...
Lifting of embargo on Alunorte has put pressure on aluminium prices; both LME and SHFE registered a decline yesterday
The dollar index climbed close to 90, the highest in nearly a month, supported by US-China trade tension and higher US Treasury yields.Base metals ended mostly higher as LME aluminium went up 0.22%. SHFE aluminium dipped 0.53%. LME aluminium dipped in the European session after it traded robustly...
LME and SHFE aluminium dropped yesterday on macroeconomic pressure; likely to trade rangebound today
The US dollar maintained last week’s gains as investors awaited developments in US-China trade negotiations and the Federal Reserve’s stance on interest-rate policy. LME base metals extended their declines as aluminium lost 2.29%. SHFE metals also closed lower and aluminium fell 0.31%. LME...
LME aluminium continued the weak trend during Friday night after lifting of tariffs on Canada and Mexico; SHFE remains rangebound
The US dollar index on Friday advanced to its highest level in two weeks near 98 as the heavy selling pressure surrounding the major European currencies allowed investors to return to the relatively safer greenback. Base metals ended lower across the board as LME aluminium lost over 1%. SHFE...
Both LME and SHFE aluminium saw an upward trend over the week; Lifting of tariffs to determine price trend in the coming week
Greenback hit a four-month high against the Chinese Yuan at the beginning of the week. The Yuan slid with the escalation of trade war between the US and China. The US dollar rose to the highest since May 3, at 97.88 on May 17 Friday, as better-than-expected US data boosted investors’ risk appetite,...
