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 $3,353/t; stocks remain unchanged at 244,525t
The LME aluminium price moved higher on September 9 compared with the previous trading day, with cash and three-month aluminium prices recording gains, while total warehouse stocks remained unchanged. On September 9, the LME aluminium cash bid price stood at USD 3351.5 per tonne, up USD 27.5 per...
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LME aluminium trades weakly on rising US dollar; SHFE gets support from good downstream demand and supply cut
The dollar hit a month-peak against a basket of currencies on Tuesday, as China and the US discussed plans for talks to avert a trade war between the world’s two biggest economies. Both LME and SHFE base metals ended in mixed territory overnight. LME aluminium fell 0.6% and aluminium dipped 0.2%...
LME aluminium starts the week lower on Dollar's gain; SHFE slumps on lack of cost support
The greenback recovered to 97 following its steepest weekly drop in three months last week. LME base metals ended in negative territory across the board overnight. Aluminium slid over 0.8%. SHFE base metals also traded lower across the board overnight. Aluminium fell close to 0.3%. LME aluminium...
Both LME and SHFE aluminium gained on Friday on falling US dollar; likely to trade rangebound today
The US dollar fell on Friday after the release of weaker-than-expected monthly job report. LME and SHFE base metals ended in the black on Friday night. LME aluminium jumped over 1% SHFE aluminium rose 0.55%. After dropping to US$ 1945 per tonne on Thursday December 6, LME aluminium recovered the...
LME and SHFE aluminium lose most gains it had made since last Friday; likely to trade weakly today
The US dollar weakened against major peers on Thursday amid weakening economic data and heightened market volatility. Most LME and SHFE base metals ended in negative territory overnight. LME aluminium dropped 1.6%. SHFE aluminium slipped close to 0.9%. LME aluminium dropped further from last...
LME aluminium tumbles but trades higher than the SHFE counterpart; weak demand continues to put pressure
The US dollar index recovered to 97 on Wednesday as support from the stronger euro and yen faded. Both LME and SHFE base metals ended in mixed territory overnight. LME aluminium inched up 0.15% while SHFE aluminium fell 0.33%. LME aluminium dropped from the quick high of US$ 1985 per tonne to...
LME aluminium drops slightly below 40 days moving average; SHFE to trade rangebound in the short term
The US dollar fell broadly overnight as US Treasury yields slipped. Both LME and SHFE base metals ended in mixed territory overnight. LME aluminium lost 0.2% while SHFE aluminium edged down 0.1%. LME aluminium closed Tuesday’s trading at US$1985 per tonne and continued to trade higher at night....
LME aluminium gained to close at US$ 1982.50 per tonne yesterday on falling dollar; SHFE tested pressure at the 40-day average
The US dollar fell broadly at the start of the week, as currencies battered by trade tensions between the US and China staged a comeback after leaders from the two countries declared a temporary truce on tariffs. LME base metals ended in the black across the board. Aluminium rose 1.2%. SHFE base...
A temporary halt in U.S. China trade war provides a breather and lifts up the aluminium market
The leaders of the world's two largest economies, President Donald Trump and Chinese President Xi Jinping, met face-to-face on December 1 Saturday in Argentina, which was expected to temporarily halt an escalating tit-for-tat trade war. They agreed to a temporary trade cease-fire to allow time for...
U.S. China negotiations at G 20 and Chalco's capacity cut announcement lift both LME and SHFE during Friday night
The dollar strengthened on Friday night, as markets awaited the outcome of talks between the leaders of the world's two biggest economies at the G-20 summit. Chinese President Xi Jinping and US President Donald Trump agreed to a temporarily pause an escalating trade war. A White House statement...
Both LME and SHFE aluminium traded low over the week on weak fundamentals; no significant gain likely next week
The US dollar traded robustly last week. After a slight fall in the mid-week dollar recovered but remained under 97 as concerns before the G20 meeting prompted investors to buy back the currency. LME aluminium continued to trade weakly over the weak but recovered some losses towards the end of the...
LME aluminium recovered some losses to close at US$ 1933 per tonne on Thursday; weak fundamentals continue to put pressure
The US dollar recovered but remained under 97 as concerns before the G20 meeting prompted investors to buy back the currency. At the G20 summit in Buenos Aires on Friday and Saturday, the US President Donald Trump and China President Xi Jinping are scheduled to discuss trade issues after months of...
LME aluminium slides to a new low on yesterday’s trading; Weak fundamentals likely to weigh on SHFE
The US dollar dipped from two-week highs after Federal Reserve Chairman Jerome Powell described US interest rates as "just below" the neutral rate. Base metals rallied across the board, LME aluminium nudged up. LME aluminium price dropped to another new low as it closed Wednesday’s trading at...
LME aluminium closed yesterday's trading slightly higher; pulled down overnight by rising dollar; SHFE follows trend
The US dollar rose to the highest in two weeks after Federal Reserve vice chairman Richard Clarida said that the US central bank’s interest-rate policy should be aimed at sustaining economic expansion and that gradual interest-rate hikes are the best way forward. Base metals fell across the board,...
LME aluminium resumes downward trend; SHFE to test support at 10-day moving average
The US dollar traded robustly, supported by expectations of further interest rate hikes by the US Federal Reserve and the G-20 summit later this week when political leaders will focus on global trade tensions. The greenback index hovered above 97. Base metals increased for the most part but...
LME aluminium plunged again on rising greenback; SHFE continues to trade weak on sluggish demand
The US dollar index increased on hopes the US and China might renegotiate a trade deal at the G-20 summit in Buenos Aires, and this grew safe-haven gains for the greenback. Base metals, expect for SHFE nickel fell across the board. LME aluminium recovered some losses last week, but plunged heavily...
LME aluminium shows upward momentum on falling greenback; SHFE to remain weak on sluggish demand
The US dollar dipped against the pound and euro, which marched higher following the news that a draft agreement had been struck between the UK and the EU. LME aluminium has recovered some losses this week after dropping continuously since the second week of November. The contract closed Thursday’s...
LME aluminium is on an uptrend this week; SHFE aluminium trade weakly on sluggish demand
The US dollar’s rally paused while the euro rose as the equity selloff eased and demand for risk-averse commodities fell. The greenback was under pressure on some unexpectedly weak US economic data. The pound inched up after a parliamentary group failed to challenge Prime Minister Theresa May’s...
LME aluminium recovers some losses during Tuesday's closing; SHFE likely to remain flat today
The US dollar rallied from a two-week low and settled at 96.79 as a sell-off in global stock markets spurred safe-haven bids and investors grew concerned about slowing global growth. Base metals, except for LME aluminium, fell across the board with LME zinc leading the losses and closing 2.48%...
