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 continues upward trend supported by higher alumina cost; SHFE follows trend
The US dollar rose to the highest since May 3, at 97.88, as better-than-expected US data boosted investors’ risk appetite, even as the US and China remained locked in a trade dispute. LME base metals advanced for the most part and aluminium gained 0.19%. SHFE aluminium ended 0.24% higher. Lower...
LME aluminium saw two consecutive gains; SHFE likely to trade robust on cost support
The US dollar retreated after a gain and ended flat on the day on disappointing data on the US retail sales for April. Base metals rose across the board and LME aluminium rose 0.68%. SHFE aluminium increased 0.38%. LME aluminium price saw two consecutive increases in last two days and crossed the...
LME aluminium rebounded yesterday after a week of low run; SHFE trading robustly
The dollar rebounded from a nearly one-month low hit in the previous session, as US and Chinese officials said the two countries would continue to negotiate on trade. US President Donald Trump insisted on Tuesday that trade talks with China had not collapsed and called the widening US-China tariff...
Solid demand and cost support helped SHFE 1906 contract outperform its LME counterpart last night; trend to continue in short term
The US dollar came under pressure as investors moved towards safe-haven currencies such as the Japanese yen and Swiss franc. Despite that the greenback hit a four-month high against the Chinese yuan on Monday. The yuan slid with the escalation of trade war between the US and China. China announced...
Lower inventory and weaker US dollar buoyed LME aluminium to a high on Friday night; SHFE continues strong
The US dollar weakened against its major rivals on Friday as market participants worked through newly-released consumer price data. US and China trade representatives wrapped up two days of talks but failed to reach an agreement. The Trump administration raised the stakes for future negotiations by...
LME aluminium had a weak run over the week while SHFE remained strong; trend to continue this week
Labour Day holidays in China last week, re-escalations of trade tensions between Washington and Beijing and another LME holiday in the beginning of the week have driven the movements of LME and SHFE aluminium in this week. The US dollar increased on Monday as the cautious stance in the global...
LME aluminium regained some losses after three consecutive days; falling inventory supports SHFE aluminium
The US dollar dropped to the 6-week low against the yen, as risk appetite lowered on most markets amid the US-China trade conflict. Two days of trade negotiations begin in Washington on Thursday and market participants are waiting for a solution. LME base metals declined for the most part while...
LME aluminium dropped further in absence of positive fundamentals; SHFE contract continues to trade strong
The US dollar rebounded with foreign exchange traders holding off from making big moves as they awaited definitive news out of the trade talks between the US and China which resume on Thursday. Base metals ended mostly lower and LME aluminium fell almost 1.1% and SHFE aluminium closed 0.4% lower....
LME aluminium opens lower after Early May Bank Holiday; SHFE to trade at RMB14,000-14,100/t
The US dollar weakened against the Japanese yen. LME aluminium grew 1.06% and SHFE aluminium finished slightly higher last night. Benchmark aluminium price on London Metal Exchange dropped to close at US$ 1767 per tonne on Tuesday, May 7, from US$ 1783.5 per tonne on Friday May 3. LME aluminium is...
LME Asia Week starts today, May 7, 2019, at Hong Kong with industry experts discussing metals
LME Asia Week is staring today, May 7, 2019, at Hong Kong with over 2,000 metals professionals and media converging together. The week will see industry experts discussing a number of topics around precious, base and ferrous metals. Ian Roper, general manager of SMM Singapore said during LME Asia...
LME remained closed on Monday; SHFE aluminium opened lower on Monday and recovered some losses overnight
The US dollar increased on Monday as the cautious stance in the global markets sustained the upside momentum in the greenback. , after the US President Donald Trump re-ignited trade effervescence on Sunday. SHFE nonferrous metals closed lower on the first trading day after the Labour Day holiday,...
LME aluminium fell below all moving averages to close Friday's trading at US$ 1783.50 per tonne; SHFE resumes trading today
The US dollar decreased sharply in afternoon trade on Friday, surrendering early gains after an employment report for the month of April that topped economists’ expectations. LME base metals ended mostly higher but aluminium lost over 1%. SHFE metals closed mixed on Tuesday April 30, the last...
LME aluminium recovered from the two year's low yesterday; likely to trade rangebound today
US dollar continued to stay strong and hovered just below 98 last night. Most of the LME base metals saw a tumbling session on Wednesday but recovered to a certain extent on Thursday. Aluminium stock in the LME registered warehouses registered a rise yesterday. The LME aluminium price, however,...
Alba registers drop in revenue in Q1 2019 on lower LME prices, sales volume up 2%
Alba published its financial results for the first quarter of 2019. The company’s top-line and bottom-line were primarily impacted by 14% year-over-year decrease in LME prices. With regards to Total Sales/Revenues, Alba generated BD 203.5 million (US$ 541.3 million) in Q1 2019, down 8% YoY. Alba’s...
LME aluminium hit the lowest in more than two years yesterday at US$ 1775.50 per tonne; likely to rebound today
US dollar held on to overnight gains today. Most of the LME base metals saw a tumbling session on Wednesday with aluminium and lead hitting their lowest in more than two years. This was attributed to the sale of computer-driven funds after an options expiry amid concerns about China demand....
LME aluminium closed lower yesterday April 30; SHFE remains closed for Labour Day
US dollar index settles over 97 today. LME base metals traded lower. LME aluminium closed at US$ 1809 tonne. Chinese market will remain closed from Wednesday May 1 to Saturday May 4 for Labour Day. As on April 30, LME aluminium cash (bid) price stood at US$ 1808 per tonne, LME official settlement...
LME aluminium continued its steady downward trend; SHFE remains strong on pre-holiday stockpiling
The US dollar index weakened and fell below 98 as traders awaited more data to decide whether to add to their bullish positions in the greenback. Most major currencies remained in tight ranges and traded lightly as Japan began its 10-day Golden Week holiday. China will have its Labour Day holiday...
LME aluminium closed lower on Friday, expected to trade between $1,830-1,870/t
LME aluminium contract closed at US$ 1,832 per tonne on Friday, April 26, down from US$1,852 per tonne on Thursday, April 25. The contract is expected to trade between $1,830-1,870 per tonne today. As on April 26, LME aluminium cash (bid) price stood at US$ 1831.50 per tonne, LME official...
