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 $3,353/t; stocks remain unchanged at 244,525t
The LME aluminium price moved higher on September 9 compared with the previous trading day, with cash and three-month aluminium prices recording gains, while total warehouse stocks remained unchanged. On September 9, the LME aluminium cash bid price stood at USD 3351.5 per tonne, up USD 27.5 per...
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LME and SHFE remained closed yesterday on NYD holiday; likely to trade weakly today
Slow year-end trading lowered the US dollar fell against the yen and euro on Monday as optimism over US-China trade dispute dented its safe-haven allure. However, the greenback stayed on track to log its strongest annual performance in three years. Base metals ended mixed on Monday, December 31....
Indian aluminium producers fear earnings drop due to falling aluminium prices
With the international aluminium price hovering at 20-month low, the earnings outlook for the domestic aluminium producers are at a risk and is banking heavily on import duty hike. Currently the three months LME aluminium prices are at US$ 1846 per tonne, much lower than what analysts had...
LME aluminium drops further on the last day of the year; SHFE remains closed
The US dollar index dipped below 97 as stocks traded higher after a week of price swings. LME base metals traded weak on Monday and aluminium dropped further. The SHFE was closed for the New Year's Day holiday. LME aluminium closed Monday’s trading at US$ 1869.50 per tonne, further down from...
LME aluminium closed last week lower; a slow week ahead for LME & SHFE on holidays and lack of cost support
The US dollar index dipped on Friday as stocks traded higher after a week of price swings. LME base metals traded mixed on Friday and aluminium dropped 0.7%. SHFE base metals also saw mixed performance and aluminium plunged 0.9%. The SHFE was closed overnight for the New Year's Day holiday. LME...
LME aluminium saw one of the most bearish weeks in 2018; falling alumina price put pressure on SHFE
The US dollar index saw a weak run over the week as investors flocked to safe-haven currencies following another volatile trading session of US stocks market. LME aluminium saw a bearish week as the removal of US sanctions on Rusal created a relaxed atmosphere in the market. The week saw three...
LME aluminium extends its losses and hovers around US$1898 per tonne; SHFE falls on declining alumina prices
The US dollar index weakened on Thursday as investors flocked to safe-haven currencies following another volatile trading session of US stocks market. LME base metals traded mixed on Thursday after a two-day closure for the Christmas holiday, but, aluminium dropped 1.2%. SHFE base metals, except...
LME aluminium likely to recover today the losses made before the Christmas and Boxing day holidays; SHFE continues to trade lower
The US dollar index recovered to 97 on Wednesday as US stocks rebounded from Christmas, though uncertainty about the US government shutdown and Federal Reserve monetary policy remained a headwind. The LME was closed on Tuesday for Christmas and on Wednesday for Boxing Day and hence no trading took...
LME closed on Tuesday for Christmas holiday; SHFE to remain firm in near term
The US dollar fell against the safe-haven yen and Swiss franc on Tuesday as investors cut their exposure to riskier assets amid the partial US government shutdown and signs of confrontation between the White House and the Federal Reserve. LME aluminium contract closed Monday’s trading at US$ 1898.5...
LME aluminium closed the week lower on Friday; SHFE supported by capacity cuts
The US dollar index recovered to 97 on Friday from a month-low on Thursday after the Federal Reserve signalled fewer interest rate hikes over the next two years and expressed caution about the US economic outlook. LME base metals, except for tin, traded lower on Friday with aluminium fell 0.4%....
Weakening dollar supports LME aluminium; SHFE rebounds on positive market fundamentals
The US dollar index saw its largest daily percentage drop in six weeks on Thursday after the Federal Reserve signalled fewer interest rate hikes over the next two years. LME base metals traded mixed on Thursday and SHFE base metals ended in the black across the board overnight. LME Aluminium rose...
LME aluminium plunged to 16-month low in early Asian trade today on news of withdrawal of Rusal sanctions
According to the latest update from the market, LME aluminium prices plunged to a 16-month low in early Asian trade on Thursday after the United States said it would withdraw sanctions on UC Rusal. The dollar came off its lows but remained weaker on Wednesday anticipating fewer interest rate hikes...
LME aluminium closed higher on weakening dollar; production cut and solid downstream purchase support SHFE
The US dollar fell to a week-low on Tuesday as investors unwound long bets on the currency, anticipating that the Federal Reserve could slow the pace of US interest rate hikes after this week's policymaking meeting. LME base metals traded lower on Tuesday and aluminium lost 0.5%. SHFE base metals...
LME aluminium rebounded with dollar's fall; SHFE to test support at five-day moving average
The US dollar on Monday fell from an 18-month high, ahead of the Federal Reserve's policy meeting this week. LME base metals traded mixed on Monday and aluminium advanced close to 0.6%. SHFE base metals gained overnight with aluminium inching up some 0.1%. LME aluminium rebounded from a low of...
Stronger US dollar continues to weigh on LME aluminium; the contract plunged on Friday while SHFE recovered some losses
The US dollar reached a 19-month high against a basket of currencies on Friday, as investors preferred the safety of the world's reserve currency in the wake of political and economic turmoil outside the US. Most LME base metals traded lower on Friday while SHFE base metals ticked higher across the...
Both LME and SME aluminium registered a downtrend over the week; strong dollar to put pressure in the coming week
The greenback recovered to 97 in the beginning of this week following its steepest weekly drop in three months last week. US President Donald Trump's upbeat comments on trade talks with China and Beijing's first major purchase of US soybeans in months have cut down on the trade war tensions. LME...
Vedanta cuts prices of aluminium ingots on December 13 in tandem with falling LME aluminium price
Vedanta Ltd raised prices of aluminium ingots by more than 1% with effect from Wednesday Dec 12, making the price of P1020 / EC High purity ingot reach INR 158,758. However, the next day, it cut prices again by almost one per cent effective from December 13. With Wednesday’s hike, rates of these...
Both LME and SHFE aluminium dip on dollar's gain; China market gets support from falling inventories
The dollar strengthened against most major currencies on Thursday on US President Donald Trump's upbeat comments on trade talks with China and Beijing's first major purchase of US soybeans in months. Both LME and SHFE base metals closed mixed on Thursday. LME aluminium slipped 0.3% and SHFE...
LME aluminium slides with rising greenback; SHFE aluminium likely to remain rangebound
The dollar index hit a month-peak against a basket of currencies on Tuesday and stands at 97.07 today. Both LME and SHFE base metals closed mixed on Wednesday. LME aluminium stayed flat and SHFE aluminium slid some 0.3%. LME aluminium closed Wednesday’s trading at US$1928 per tonne, lower than...
