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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China’s aluminium sheet, plates and strips export drop 1.8% MoM in January, but up 20% YoY
According to the data from China Customs released over the weekend, the country’s exports of aluminium sheet, plates and strips came in at 246,000 tonnes in January, down 1.8 per cent from 250,000 in December, but up 20 per cent from 205,000 tonnes year-on-year. This decline in China’s export...
LME aluminium price edged down last night; SHFE aluminium inched up
The US dollar increased to a two-week high against a basket of currencies as unexpectedly strong data on US services industries and new home sales allayed some worries about the US economy. Base metals ended mix last night. LME aluminium edged down and SHFE aluminium inched up. LME aluminium closed...
Both LME and SHFE aluminium edged down on Monday with on a strong greenback; likely to trade lower today
The US dollar increased against a basket of major currencies on traders' bets that China and the US are moving closer to a trade deal. The greenback gained for a fourth consecutive trading day. Base metals declined across the board as LME aluminium led the drops and fell 2.02%. SHFE aluminium also...
LME aluminium rebounded on Friday night but, lowered by a higher dollar; SHFE to trade under pressure
The US dollar increased to 10-week-highs against the yen last Friday, as risk appetite improved amid a more upbeat outlook on some major economies and on expectations of a trade deal between China and the US. Base metals ended mostly higher last Friday and aluminium rose 0.29%. SHFE aluminium rose...
Both LME and SHFE aluminium lost some gains yesterday with the rebounding dollar; to trade under pressure today
The US dollar index rebounded from earlier lows on Thursday, after US data showed growth in the world's largest economy was stronger than expected in the fourth quarter. LME base metals traded mixed on Thursday and aluminium dropped 0.9%. SHFE base metals also saw mixed performance overnight and...
Positive fundamentals buoyed both LME and SHFE aluminium yesterday; likely to trade higher today
The US dollar rebounded on Wednesday as investors digested testimonies from the lead US trade negotiator with China and the top ranking Federal Reserve official. LME base metals traded higher across the board on Wednesday and aluminium gained 0.3%. SHFE base metals performed similarly overnight and...
LME aluminium gained slightly during night trading; SHFE to test pressure at 60-day moving average
The US dollar slid to a three-week low on Tuesday. LME base metals traded mixed on Tuesday and aluminium rose 0.7%. SHFE base metals also saw mixed performance overnight and aluminium lost 0.2%. LME aluminium contract fell to US$ 1870 per tonne during the day’s closing yesterday despite the dollar...
LME aluminium closed lower despite falling US dollar; both LME and SHFE likely to trade rangebound today
The US dollar extended its losses on Monday after US President Donald Trump decided to extend a March 1 deadline for additional tariffs on Chinese goods, suggesting progressive trade negotiations between the two countries. LME base metals traded mixed on Monday and aluminium fell 0.6%. Most SHFE...
Both LME and SHFE ended last week higher on falling dollar and positive fundamentals; expected to continue the trend today
The US dollar index fell on Friday as investors took on riskier assets on hopes for a trade deal between the US and China. LME base metals traded higher on Friday and aluminium advanced 0.4%. SHFE base metals also ticked up across the board on Friday night and aluminium advanced 0.8% and tin inched...
Both LME and SHFE aluminium closed higher on positive market sentiments; expected to trade higher today
The US dollar index on Thursday recovered from earlier losses spurred by soft US economic data, as investors consolidated positions and looked for fresh trading incentives amid US-China trade talks and Brexit negotiations. LME base metals traded mixed on Thursday and aluminium rose 1.6%. SHFE base...
LME aluminium price slips again; SHFE aluminium gains 0.3% overnight
The US dollar index rose on Wednesday as the Federal Reserve’s latest policy meeting appeared more hawkish than the market had expected. LME base metals traded higher across the board on Wednesday and aluminium increased1%. SHFE base metals, except for tin, performed similarly overnight. SHFE...
LME aluminium price inches up 0.2%; SHFE to trade at RMB13,400-13,500/t
The US dollar fell on Tuesday as optimism about the outcome of a fresh round of US-China trade talks in Washington this week prompted traders to scale back their safe-haven greenback holdings. Most LME base metals traded higher on Tuesday and aluminium edged up 0.2%. SHFE base metals, except for...
LME aluminium starts the week lower but regains some losses overnight; SHFE 1903 plunges overnight on lack of support
The US dollar index slipped on Monday as optimism over a breakthrough in US-China trade talks drove investors to the euro and riskier currencies. LME base metals traded mixed on Monday and aluminium edged down 0.08%. SHFE base metals also closed mixed overnight while aluminium lost 0.3%. LME...
Glencore to take delivery of 200K tonnes of aluminium from ISTIM in Port Klang, Malaysia
Anglo-Swiss mining company Glencore will reportedly take delivery of 200,000 tonnes of aluminium, which they had purchased on the London Metal Exchange, from warehouses owned by ISTIM UK in Port Klang, Malaysia. The news came when five sources familiar with the matter revealed the fact. According...
Both LME and SHFE aluminium prices registered gain on the weekend; expected to trade higher today
The US dollar weakened on Friday after the indication that the central bank may hold off on raising interest rates in 2019. LME base metals traded higher across the board on Friday and aluminium gained 0.3%. SHFE base metals performed similarly on Friday night and aluminium advanced 0.8%. LME...
LME aluminium price drops 0.8%; SHFE to remain rangebound before the fundamentals improve
The US dollar index fell on Thursday, weighed by a string of disappointing US data, with retail sales recording their biggest drop in nine years in December. LME base metals, except for lead, traded lower on Thursday. LME aluminium dropped 0.8% and SHFE aluminium sank 0.3% overnight. Benchmark...
LME aluminium closed lower at US$ 1840/t; SHFE aluminium gained 0.2% overnight
The US dollar rose slightly on Wednesday, reversing losses from the previous day, thanks to an increase in a measure of inflation excluding energy prices. LME base metals, except for lead, traded higher on Wednesday. LME aluminium expanded 0.5% and SHFE aluminium gained some 0.2% overnight....
LME aluminium traded lower on Tuesday; SHFE follows suit
The US dollar fell on Tuesday after eight days of gains, the longest in two years, as investors turned to riskier assets on optimism over the outcome of US-China trade talks. LME base metals traded lower on Tuesday. LME aluminium dropped 1.2% last night. LME aluminium fell further and closed at US$...
