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 consolidates after the sudden gain on Alunorte news; SHFE reopens with a gain
The US dollar retained its recent gains overnight on upbeat domestic economic data. The euro fell to a seven-week low against the dollar on Monday as Italy. The Yuan weakened as Beijing's move to spur lending failed to ease concern about economic growth. LME aluminium traded under pressure on...
LME aluminium prices fell on news that Alunorte refinery could restart; China market reopens after week-long holiday
LME aluminium lost all its previous gains and settled at US$2,105 per tonne last Friday night after Brazil’s environment ministry granted authorization to utilize press filter technology that could allow Hydro Alunorte refinery to restart the operation at 50 per cent of capacity. After reaching the...
LME aluminium climbed through the week to consolidate on Friday over alumina concerns; China remains close on National Day holiday
LME aluminium started the week and the month of October with a gain. Benchmark aluminium price on London Metal Exchange gained significantly to close at US$ 2047.50 per tonne on Monday October 1. LME aluminium prices climbed more than 4 per cent and to their highest in nearly five weeks on...
LME aluminium continued rising through yesterday over alumina market concerns closing at US$ 2243.50 per tonne
News of full curtailment of production at Norsk Hydro’s Alunorte alumina refinery in Brazil spurred a 4.5% spike in the three-month aluminium price, pushing it to an intraday high of US$2,267 per tonne, its highest level since June. Aluminium prices rally in LME started consolidating at the close...
LME aluminium prices climbed 3 per cent to 5-week high as Hydro shuts Alunorte
LME aluminium prices climbed 3 per cent and to their highest in nearly five weeks on Wednesday after the news broke that Norsk Hydro said it would halt production at its Alunorte alumina refinery in Brazil, generating fear of tighter alumina supply. Aluminum outperformed all other base metals while...
LME aluminium picks up on falling inventory; premiums slid across the world on softening of sanction fear
LME aluminium started the week and the new month with a gain and closed at US$ 2047.50 per tonne on October 1. The contract gained further to close at US$2080 per tonne on October 2. Aluminium inventories in London Metal Exchange have been falling at an unforeseen speed. LME on-warrant aluminium...
LME aluminium starts the week with a gain, China market close on National Day holiday
After closing the last week with a drop, LME aluminium started the week and the new month with a gain. Benchmark aluminium price on London Metal Exchange gained significantly to close at US$ 2047.50 per tonne on Monday October 1. As on October 1, LME aluminium cash (bid) price stands at US$ 2047...
LME aluminium slips on the back of strong US dollar; SHFE declines for four consecutive days
The dollar climbed to a two-week peak versus a currency basket on Friday, as concerns about the Italian budget weighed on the euro while the greenback drew support from an outlook for multiple US interest rate hikes until 2020. LME base metals ended in mixed performance on Friday, September 28....
LME aluminium dragged down by its SHFE counterpart and rising US dollar; likely to trade lower today
The dollar notched the largest daily increase in close to seven weeks against a basket of other major currencies on Thursday, boosted by the Federal Reserve's outlook for more rate hikes beyond this year as well as a weakening of the euro on worries about the Italian budget. LME aluminium was...
LME aluminium gains on quick clearing of warehouse stock; SHFE has closed lower for three consecutive days
The dollar gained on Wednesday in choppy trading after the Federal Reserve raised US interest rates as expected for the eighth time. LME aluminium gained and closed higher from the previous day at US$ 2056.5 per tonne on Wednesday on quick dropping of LME inventory. More and more metal are moving...
LME aluminium closed slightly lower yesterday; SHFE rebounded to the daily moving average
The dollar was slightly weaker on Tuesday ahead of a Federal Reserve meeting. The market is expecting another interest rate hike, leaving little room for further currency gains. Both LME and SHFE base metals ended in mixed performance overnight. After opening the week higher at US$ 2035 per tonne,...
LME aluminium closed flat on Monday; SHFE resumes higher and likely to get support from a tight input market
The US dollar index nudged up overnight as investors searched for fresh clues before a widely expected interest rate hike by the US central bank this week. LME base metals, except for zinc, fell across the board on Monday. Benchmark aluminium price on London Metal Exchange stayed almost flat and...
LME aluminium closed higher on Friday; SHFE remains closed on Mid-Autumn Festival
Benchmark aluminium price on London Metal Exchange increased to close at US$2034 per tonne on Friday, September 21, up from the previous day’s close at US$ 2018.5 per tonne on Thursday September 20. As on September 21, LME aluminium cash (bid) price stands at US$ 2032 per tonne, LME official...
LME aluminium gains on weakening dollar and buoys SHFE counterpart; likely to trade upward today
The US dollar weakened Thursday, partly due to a buoyant British pound that was trading higher on the back of better-than-expected economic data. The pound has risen against the US dollar to hit a two-month high at 1.3288. LME aluminium settled 1.31% higher at US$2,056.5 per tonne after rising to a...
LME aluminium records lowest of the week; SHFE to trade at RMB14,480-14,700/t
The US dollar was steady against the euro and slipped against the risk-sensitive Aussie, as investors digested China-US tariff news. The dollar index, which measures the greenback against a basket of six other major currencies, dipped about 0.1% at 94.50.Base metals traded with pressure for the...
Fresh tariffs by the US on China lifted LME again yesterday; SHFE likely to trade upward
The US dollar index rebounded as it recovered from earlier weakness that came after China responded with new tariffs on $60 billion worth of US goods. Meanwhile, US Treasury yields were also on the rise, to their highest since May for the 10-year bond. Base metals increased for the most part....
LME aluminium slumps yesterday but recovered overnight with limited momentum; SHFE follows trend
The US dollar index slumped against the euro and sterling, which were buoyed by optimism that Britain would reach a deal with the European Union (EU) on the terms of its departure from the trade bloc. Base metals closed mixed. LME aluminium closed the day's trading lower at US$ 1985 per tonne on...
LME aluminium opens the week lower on higher US dollar and easing of sanction on Rusal; to put pressure on SHFE
The US dollar index rebounded last Friday, after a positive showing for consumer sentiment, and increased 0.46% to close at 94.96. Base metals, except for tin, fell across the board. LME aluminium closed the day’s trading on Friday with US$ 2015.5 per tonne and after some recovery during Friday...
