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 $3,353/t; stocks remain unchanged at 244,525t
The LME aluminium price moved higher on September 9 compared with the previous trading day, with cash and three-month aluminium prices recording gains, while total warehouse stocks remained unchanged. On September 9, the LME aluminium cash bid price stood at USD 3351.5 per tonne, up USD 27.5 per...
Grow with
AL Circle
LME aluminium closed higher after Easter Monday Holiday; SHFE aluminium fell overnight
On the first trading day after Easter Monday Holiday on April 23, LME aluminium contract closed higher at US$ 1855 per tonne, from US$1839 per tonne on Friday, April 19. Recent strong performance in SHFE aluminium helped LME aluminium buck the downtrend across nonferrous metals on Tuesday....
SHFE aluminium traded higher on resumption of downstream demand; LME remained closed on Monday
The US dollar edged lower against a basket of currencies in poor trades on Monday. The LME was closed for Easter Monday holiday. SHFE aluminium traded higher. The benchmark aluminium price on Shanghai Metal Exchange increased to US$ 2113 per tonne today from US$ 2105 per tonne on April 22. The...
SHFE aluminium continues bullish trend during Friday night; LME remains closed for Good Friday holiday
The US dollar index dipped amid the holiday-thin trades, after the release of disappointing US homebuilding data. SHFE base metals rose across the board on Friday night, aluminium advanced close to 0.5%. The London Metal Exchange closed for the Good Friday holiday. As on April 18, LME aluminium...
The week saw a flat LME aluminium trend while SHFE remained strong on positive economic data and solid consumption
The US dollar rebounded against a basket of foreign currencies on Monday and continued to stay above 97 keeping pressure on LME base metals. Though better-than-expected economic data in China weakened it in the mid-week, strong retail sales and labour data bolstered the US dollar on later. LME...
LME aluminium saw upward movement during Thursday night trading; SHFE remains strong on suspended capacity
Strong retail sales and labour data bolstered the US dollar on Thursday. LME aluminium traded flat and SHFE aluminium inched up close to 0.1%. Despite the rebound in the greenback, three-month LME aluminium rallied from earlier lows to close 0.84% higher at US$1,868 per tonne on Thursday night,...
LME aluminium continues to struggle upward today; SHFE is bolstered by China's upbeat economic data
The US dollar weakened against a basket of foreign currencies on Wednesday as better-than-expected economic data in China bolstered risk appetite. LME base metals traded mixed on Wednesday. LME aluminium dipped 0.05% and SHFE aluminium advanced 0.5%. Three-month LME aluminium came off from a...
Higher greenback puts pressure on LME aluminium; SHFE gains on cost support and consumption growth
The US dollar index extended its gains above 97 on Tuesday with the weakening of the euro. LME base metals traded lower on Tuesday. LME aluminium fell 0.5% and SHFE aluminium gained 0.5%. The robust greenback pulled down the three-month LME aluminium 0.5% to close at US$1,853.5 per tonne on...
LME and SME benchmark aluminium prices closed flat on Monday; likely to drop today on rising greenback
The US dollar rebounded against a basket of foreign currencies on Monday. LME base metals traded lower on Monday. LME Aluminium edged down 0.05% and SHFE aluminium sank 0.1%. LME aluminium is in a consolidating phase without much fluctuation. LME cash settlement price remained flat from the...
LME closed the week lower at 1843.50 per tonne; a weak dollar likely to give support to both LME and SHFE today
The US dollar index slipped on Friday as the euro rose sharply. LME base metals traded higher across the board on Friday April 12. LME aluminium advanced about 0.3% and SHFE aluminium popped 0.1%. LME closed the week lower at 1843.50 per tonne on Friday. As the US dollar weakened, three-month LME...
A rising US dollar puts pressure on LME; SHFE continues to stay bullish on falling inventory
The US dollar index sharply rose on Thursday, driven by strong producer prices and unemployment claims. Base metals mostly traded lower across the board on Thursday. LME aluminium slipped 0.4% and SHFE aluminium dipped 0.07%. Pressurised by the stronger greenback, three-month LME aluminium fell to...
LME aluminium closed lower for the third consecutive day yesterday; higher demand keeps SHFE higher
The US dollar stood lower against a basket of currencies on Wednesday to a little below 97. LME base metals traded lower on Wednesday. LME Aluminium dropped 0.7% and SHFE aluminium lost close to 0.3%. Three-month LME aluminium fell to a one-month low of US$1,862 per tonne before it closed 0.67%...
Fall in US dollar lifted LME and SHFE aluminium overnight; SHFE to get support from positive market fundamentals
The US dollar index fell on Tuesday after the International Monetary Fund downgraded its outlook on the global economy. LME base metals traded mixed on Tuesday. LME aluminium rose 0.3% and SHFE aluminium advanced some 0.3%. Three-month LME aluminium fluctuated to end 0.3% higher at US$1,879 per...
Both LME and SHFE aluminium closed slightly lower yesterday; likely to trade in a tight range today
The US dollar declined against a basket of currencies on Monday as recent strong economic data eased concerns about the global economy. However, the index remained above 97. LME base metals traded mixed on Monday. LME aluminium fell 0.5% and SHFE aluminium fell 0.3%. Three-month LME aluminium fell...
LME aluminium closed the last week lower at US$1864/t; SHFE reopens higher after Qingming holiday
The US dollar index rose on Friday after the US government said that job creation was stronger than expected in March, but wages grew at a sluggish pace. LME base metals traded lower on Friday. LME aluminium dropped 1.4% while SHFE aluminium edged up. The Shanghai Futures Exchange closed from...
LME aluminium closed higher at US$1872 per tonne yesterday on anticipation of US-China trade deal; SHFE remains close
The US dollar index recovered and settled at 97.3. Most London industrial metals rose on Friday, supported by news that the United States and China are edging closer to a trade deal after months of dispute.Three months LME aluminium traded down 0.2% at $1,892 a tonne yesterday and then rose 0.5 per...
Both LME and SME recovered some losses overnight on dollar's fall; to trade under pressure today
The US dollar weakened on Wednesday after data showed that US services sector activity slowed to a more than 1-1/2-year low in March however it remains slightly above 97. LME base metals traded higher on Wednesday and aluminium crept 0.6%. SHFE aluminium inched up close to 0.2%. With resistance at...
Strong greenback pulled down both LME and SHFE aluminium overnight; likely to trade in a tight range today
The US dollar rose against a basket of foreign currencies on Tuesday, with the index hitting 97.51, the highest since March 8. LME base metals traded lower and aluminium slid 0.5%. SHFE aluminium declined some 0.2%. As expected, the news of Rusal’s supply resumption and a strong dollar put pressure...
A rising Greenback and Rusal being back into business weighed on LME aluminium overnight; SHFE followed the trend
US manufacturing rebounded more than expected in March as shown by an industry report released on Monday. The US dollar index rose on Monday as stronger-than-expected US manufacturing data offset sluggish retail sales. LME base metals closed mixed on Monday. LME aluminium dropped close to 1% and...
