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 registered gains while SHFE continued a flat run this week; cost support and uncertainty around Rusal supply to drive the market
The first week of September was marked by a rising US dollar index and a falling LME aluminium graph. However, LME aluminium recovered during the second week. LME aluminium rose to a high of US$2,080 per tonne on September 10, after closing flat the previous week driven by the fact that workers...
Falling US dollar and sign of eased trade tension lifted LME aluminium yesterday; SME continues flat run
The US dollar fell to low in one and a half months against a basket of currencies after data showed that US consumer prices increased less than expected in August, paring traders' outlook that domestic inflation is accelerating. Signs of eased trade tension between China and the US, with the...
LME aluminium slumped again in expectation of sanction relief on Rusal, SHFE continues flat run
The US dollar index slid against a basket of other currencies as investors cut safe-haven holdings of the greenback, following a report that senior US officials were seeking to jumpstart trade talks with China. The rebound in the euro and pound also weighed on the US dollar. As market fretted over...
LME aluminium recovers with the resumed NAFTA negotiations; SHFE flat on low consumption
The US dollar fell against the Canadian dollar, which was buoyed by a resumed North American Free Trade Agreement (NAFTA) negotiation between the two counties on Tuesday. The US dollar inched down 0.08% to settle at 95.07. LME aluminium recovered from Monday’s low run and settled at US$ 2035 per...
LME aluminium continued its downtrend while SHFE remains flat; likely to trade higher today
The US dollar weakened against the pound, which was buoyed by hopes that a Brexit deal could be reached in six to eight weeks. Base metals closed mixed. LME aluminium grew 0.68% overnight after closing at US$ 2000 per tonne yesterday. The contract broke resistance at all moving averages and soared...
LME aluminium has started the weak slightly higher on supply uncertainties; SHFE remains flat
The US dollar rose last Friday against all major currencies and closed 0.33% higher at 95.43. Base metals closed mixed. LME aluminium rose to a high of US$2,080 per tonne after settling flat on Friday as workers extended their strike at Alcoa's alumina operations in Western Australia. With pressure...
LME aluminium registers gain after three consecutive drops; US tariff deadline to affect SHFE aluminium
The US dollar index edged down 0.31% to close at 95.1 as the pound jumped after it was reported that Germany was prepared to make a major compromise on Brexit. Base metals closed mixed. LME aluminium contract gained after three consecutive falls and closed the day’s trading at US$ 2045 per tonne...
Robust US dollar keeps LME and SHFE aluminium low; input costs to give support in the short term
The US dollar index rallied to the highest since August 21 last night at 95.73, and closed at 95.41. Concerns over an escalating trade conflict between the US and China battered emerging market currencies and prompted investors to seek safe harbour of the dollar. Base metals, except for SHFE tin,...
LME aluminium slumps on rising US dollar and poor downstream demand; cost support prevents further downtrend
The US dollar inched up 0.01% to close at 95.1, following news of improved manufacturing activity in the UK in August. Base metals, except for lead, dropped across the board. LME aluminium slumped 1.4%. Poor downstream demand in the expected high season weighed on aluminium prices, but higher costs...
US dollar gains and puts pressure on both LME and SME aluminium; likely to trade rangbound today
The US dollar registered growth for a second consecutive trading day last Friday after it was reported that the US and Canada ended trade negotiations without any agreement. The greenback is on track to end the month of August on a positive note, up about 0.6% amid trade tensions. It has advanced...
Falling US dollar index and tight alumina market lifted LME and SME over the week, cost support to continue next week
The last week of August was marked by a falling US dollar index and a rising LME aluminium graph. August 27 was a holiday for LME and it started the week with a 1.26 % gain on August 28. The light aluminium contract traded within a range of US$ 2088 to US$ 2112 per tonne over the week. US dollar...
Both LME and SHFE aluminium dipped as the US dollar rebounded overnight
The US dollar index rebounded for the first time in five trading days. LME aluminium and SHFE contracts registered smaller drops compared with other base metals when the US dollar rebounded overnight. LME aluminium contract closed a little higher at US$ 2127 per tonne yesterday. As on August 30,...
LME continues bullish trend on cost support gaining 1.13% overnight; SHFE aluminium to follow trend in the short term
The US dollar index slumped to the lowest in four weeks, as investors lost confidence in the dollar after the US and Mexico reached a preliminary agreement to change parts of the North American Free Trade Agreement (NAFTA). Base metals closed mixed. Short supplies of alumina overseas provided more...
A tight alumina market and falling US dollar lifted LME and SHFE aluminium; likely to trade higher today
A strong Conference Board (CB) Consumer Confidence index for August lowered the US dollar index by 0.07% last night. Most LME and SHFE base metals gained. Tight supplies and higher purchasing prices of alumina in the overseas market pulled up LME aluminium, which soared to an intraday high of...
LME aluminium expected to trade at US$2,080-2,100/t; SHFE closed flat
London Metal Exchange was closed on Monday August 27 due to Summer Bank Holiday. Shanghai Metals Market expects LME aluminium to receive support from higher alumina prices and to trade at US$2,080-2,100 per tonne today. SME and SHFE Aluminium Price Trend The benchmark aluminium price on Shanghai...
LME aluminium closed higher on Friday; SHFE hits highest since August 9
The US dollar index fell 0.49% to close at 95.15 as US President Donald Trump criticised the Federal Reserve on interest rate hikes. Base metals rose for the most part except for LME tin and SHFE nickel, according to Shanghai Metals Market. LME aluminium was bolstered by rising base metals...
LME aluminium settled lower on Thursday; SHFE tests support at the 10-day moving average
The dollar stopped a five-day losing streak and the euro fell on Thursday. The greenback received a boost from political uncertainty, a new round of trade tariffs and the Federal Reserve's decision to raise interest rates. The dollar index gained 0.57% to close at 95.617. LME aluminium rebounded to...
LME and SME traded rangebound yesterday; ongoing US-Sino trade negotiations to drive the market today
The US dollar index closed at 95.075 on Wednesday after it fell to 94.93, the lowest since August 2. LME base metals, except for copper, rose across the board on Wednesday. LME aluminium traded strongly rangebound and closed at US$2,065 per tonne on Wednesday night after closing the day’s trading...
