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 $3,353/t; stocks remain unchanged at 244,525t
The LME aluminium price moved higher on September 9 compared with the previous trading day, with cash and three-month aluminium prices recording gains, while total warehouse stocks remained unchanged. On September 9, the LME aluminium cash bid price stood at USD 3351.5 per tonne, up USD 27.5 per...
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LME aluminium closed the week higher; SHFE aluminium gained 0.44% on Friday
The US dollar index stemmed earlier losses and rebounded above 97.2 on Friday. LME base metals, except for tin, traded higher on Friday and aluminium gained 0.31%. SHFE base metals closed higher across the board on Friday night. SHFE aluminium rose 0.44%. LME aluminium closed Friday’s trading...
Both LME and SHFE aluminium traded in a close range over the week; SHFE likely to stay firm over next week
The US dollar traded lower in the beginning of the week as the US government bond yields extended their decline from last week on fears of slower global growth. The dollar then rose for three consecutive trading days and jumped to the highest since March 11. Base metals traded mixed over the week...
LME aluminium closes slightly lower yesterday; SHFE stays firm on falling inventory and cost support
The US dollar rose for the third consecutive trading day and jumped to the highest since March 11, at 97.3 last night. Base metals ended mixed. LME aluminium gained while SHFE aluminium went down slightly. LME aluminium closed Thursday's trading lower at US$ 1896.50 per tonne and rebounded and...
Both LME and SHFE aluminium closed lower yesterday; likely to regain some losses over the day
The US dollar inched higher against its rivals as benchmark US 10-year Treasury debt yields rebounded from 15-month lows. Base metals ended mostly higher. LME aluminium rose 0.9% and SHFE aluminium, edged down. LME aluminium dropped to a low of $1,874.5/mt after miner Rio Tinto said they restarted...
Both LME and SHFE continued downward trend on Monday to settle lower; likely to trade within a tight range today
The US dollar traded lower as the US government bond yields extended their decline from last week on fears of slower global growth. Base metals ended mixed and both LME and SHFE aluminium dropped overnight. LME registered the third consecutive loss yesterday to close at US$1856 per tonne after the...
A strong US dollar weighed on both LME and SHFE aluminium on Friday; likely to trade rangebound today
The US dollar climbed in last Friday's trading, as investors grappled with an inverted US Treasury yield curve. Base metals declined across the board and both LME and SHFE aluminium edged down. As the US dollar jumped, LME aluminium dipped to a low of US$1,880 per tonne on Friday night and tested...
LME aluminium fell last night after dollar rebounded to a three-day high; SHFE also drops to 40-day moving average
The US dollar rebounded and regained most of the ground lost in the previous session, to a nearly three-day high of 96.63, as Brexit concerns weighed on the euro and sterling. Base metals ended mostly lower. LME aluminium fell 1.63% and aluminium went down 0.47%. LME aluminium fell below support...
News of cyber-attack on Hydro smelter lifted LME aluminium overnight; both LME and SHFE are likely to trade higher today
The US dollar edged lower against a basket of major currencies due to concerns over the strength of the American economy and expectations that the Federal Reserve will prove accommodative at its meeting this week. Base metals closed higher on Tuesday and aluminium grew 0.66%. SHFE aluminium closed...
LME aluminium rebounds on the first day of the week; slow domestic consumption keeps SHFE rangebound
The US dollar changed little against a basket of currencies, sticking close to a two-week low. Base metals closed mixed and LME aluminium jumped 1.5%. SHFE aluminium increased 0.51%. A lower US dollar lifted LME aluminium from last Friday’s closing to US$1879 per tonne during the first day of the...
LME aluminium traded higher over the week and buoyed the SHFE counterpart; lower Chinese economic data put pressure on the price
The US dollar weakened this week after progress in Brexit negotiations between the European Union and Britain and dipped to the lowest since March 4, at 96.37 on March 14, after new inflation data increased expectations that US interest rates will not be raised anytime soon. Base metals traded...
A higher US dollar weighed on LME aluminium; SHFE down on China’s weaker economic data
The US dollar snapped a four-session decline after the British pound stalled at lower levels ahead of a vote to extend Britain's March 29 deadline for exiting the European Union. Base metals, expect for LME tin, closed lower and aluminium edged down. SHFE aluminium lost 0.37%. A rebound in the US...
LME aluminium traded robust to end at US$1,903.5 per tonne overnight; SHFE continued upward trend
The US dollar dipped to the lowest since March 4, at 96.37, after new inflation data increased expectations that US interest rates will not be raised anytime soon. Base metals ended mixed and LME aluminium jumped 1.38%. SHFE aluminium rose 0.7%. LME aluminium closed the day's trading higher than...
LME launches seven new contacts including alumina and aluminium premium contracts
The London Metal Exchange (LME) launched seven new cash-settled futures contracts on Monday, March 11, including contracts on alumina and aluminium premium. The new contracts are launched to attract more business after profits fell last year. London Metal Exchange (LME) announced about the launch...
Both LME and SHFE aluminium are in a bullish territory on positive fundamentals; likely to trade higher today
The US dollar weakened after progress in Brexit negotiations between the European Union and Britain. Base metals rose across the board and LME aluminium grew over 1% and SHFE aluminium closed higher. LME aluminium closed the day’s trading at US$ 1851 per tonne yesterday. Then the contract slid and...
Falling US dollar lifts LME aluminium overnight after a slow start on Monday; SHFE to hover in a broad range
The US dollar slipped into negative territory, following an anticipated retail sales report that drew little reaction from the greenback. Base metals closed mixed and aluminium fell 0.51%. SHFE aluminium climbed. LME aluminium closed lower on Monday at US$1830 per tonne. After that a weaker US...
LME aluminium closed the week higher on Friday; expected to trade at US$1,840-1,900/t
The US dollar fell against most major currencies on Friday. Base metals, except for LME aluminium, declined across the board last weekend. SHFE metals kept their declines within 1%. LME aluminium price closed Friday’s trading at US$ 1848 per tonne. This was up 0.38 per cent from US$ 1841 per tonne...
LME aluminium closed 0.27% lower at US$ 1841 /t; SHFE closed slightly lower
The US dollar increased against a basket of currencies, to a near three-month peak as the euro sold off. Base metals declined for the most part last night. LME aluminium inched up and SHFE aluminium closed slightly lower. LME aluminium price closed lower from previous day at US$ 1841 per tonne...
LME aluminium closed lower at US$ 1846/t; SHFE aluminium fell as most base metals weakened
The US dollar held steady, while the Canadian dollar dipped to a two-month low. Base metals declined for the most part last night. LME aluminium dipped 0.4% and SHFE aluminium fell 0.4%. LME aluminium closed lower from previous day at US$ 1846 per tonne during the day’s closing yesterday. As longs...
