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 $3,353/t; stocks remain unchanged at 244,525t
The LME aluminium price moved higher on September 9 compared with the previous trading day, with cash and three-month aluminium prices recording gains, while total warehouse stocks remained unchanged. On September 9, the LME aluminium cash bid price stood at USD 3351.5 per tonne, up USD 27.5 per...
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LME aluminium gains with the falling US dollar; tight alumina market to support SHFE aluminium
The dollar weakened on Tuesday after US President Donald Trump criticised central bank's interest rate hikes. The dollar index settled at 95.238 after it fell to 95.07, its lowest since August 9. LME aluminium closed the day’s trading at US$ 2040.50, higher than last closing and later strengthened...
LME and SHFE aluminium register gains on dropping of US dollar; US-China trade talks to move the market further
The US dollar index fell below 96 to the lowest in almost one week at 95.76 on Monday after Federal Reserve took decision to raise interest rates. LME aluminium closed the day’s trading at US$ 2033 per tonne yesterday. Then the contract hit a high of US$2,084.5 per tonne during the European session...
LME aluminium shows restraint with the fall of US dollar; SHFE aluminium stays rangebound
The US dollar index fell to 96.11 on Friday on lower demand for the safe-haven greenback, as traders hoped the upcoming trade talks between the US and China would ease tension. LME aluminium fell to a low of US$2,018.5 per tonne before it regained some losses and closed at US$2,032 per tonne on...
Both LME and SHFE aluminium show slight gain; likely to recover some more losses today
The US dollar index came off from a 13.5-month high and closed at 96.57 on Thursday, while the Chinese Yuan recovered from its weakest level since January 2017. Most of the base metals rose across the board overnight on Thursday after closing lower for two days. LME aluminium closed the day’s...
Surging US Dollar brings down both LME and SHFE aluminium to record low since April; bearish sentiment likely to continue
The US dollar index closed at 96.71 overnight after rising to over 96.98 earlier, the highest since June 2017 as investors added their holdings of the greenback on worries over slowing Chinese growth and Europe's exposure to Turkey. The Chinese yuan fell past 6.95 per dollar in overnight offshore...
Skyrocketing US dollar index puts pressure on LME aluminium; SHFE follows the trend
The US dollar index hit the highest level since June last year at 96.794 on Tuesday. LME aluminium continued downward trend and closed the day’s trading at US$2038 on Tuesday. It recovered most of its early losses and closed at US$2,069.5 per tonne after touching the low of US$2,045 per tonne. It...
LME aluminium continues rangebound pattern struggling to stay afloat; SHFE under pressure from rising US dollar
The US dollar index notched a fresh 14-month high at 96.52 before it closed at 96.27 overnight as Turkey’s economic woes continued. LME aluminium hovered within a range of US$25 for most of the day and closed the day’s trading at US$ 2052 per tonne yesterday August 13. The metal rebounded from a...
LME struggles to stay up on account of surging greenback; SHFE to regain strength in the short term
The dollar index logged a new high in over one year, settling at 96.45 on Friday night, while the Turkish lira fell over 20% against the greenback, reaching a record low of 6.87, after US President Donald Trump announced he was doubling metals tariffs on Turkey. LME aluminium showed downward trend...
Surging US dollar pulled LME aluminium down by 2.2%; SHFE 1810 fell overnight after breaking rangebound trend
The dollar index jumped 0.54% to 95.61 overnight as investors bet global trade tensions and a robust US economy would support the currency. LME base metals closed mixed on Thursday. The day’s trading for aluminium closed at US$ 2118 per tonne yesterday. Aluminium slumped 2.2%. LME aluminium plunged...
LME aluminium surges on trade war worries and disruption at Pinjarra alumina refinery; buoys SHFE counterpart
The dollar index slipped 0.07% to 95.098 overnight, while the pound dropped to its lowest level in almost a year on Wednesday. LME aluminium surged and closed at US$2,116.5 per tonne on Wednesday night after closing the day’s trading at US$ 2022 per tonne. The market was buoyed by the news of...
LME aluminium registers gain on softening dollar, SHFE to stay rangebound around the five-day moving average
The US dollar index softened and closed at 95.165 on Tuesday as the Chinese yuan showed more stability after the country’s central bank on Friday raised the cost of shorting the currency. LME base metals, except for aluminium, rose across the board on Tuesday. The contract closed Tuesday’s trading...
LME continued downward trend through the first week of August; SHFE bullish on falling inventory and solid consumption
The US dollar index strengthened further and closed at 95.35 overnight as investors bet that trade wars and a robust US economy would continue to drive the currency higher. Base metals closed mixed overnight. LME aluminium rose over 1% after closing the day’s trading at US$ 2000.50 per tonne,...
LME aluminium traded rangebound on Friday; SHFE up on news of winter production cuts and prebaked anode prices
The US dollar index traded rangebound at highs and closed at 95.2 on Friday. China's offshore yuan rebounded after the country’s central bank on Friday imposed a reserve requirement of 20% on trading of foreign exchange forward contracts. Driven by these developments LME base metals closed mixed on...
LME aluminium dipped on rising greenback; SHFE gains ground over higher input cost
The dollar index rose past 95 on Thursday as trade tension between the US and China grew. China's offshore yuan extended its decline to 6.8798 yuan overnight. LME base metals closed mixed on Thursday. LME aluminium dipped on Thursday and closed at US$ 2023 per tonne. The contract is likely to trade...
Both LME and SHFE aluminium plunge on rising US dollar and US-China trade disputes; pressure to continue over the day
The US dollar index inched up to 94.7 overnight after the Federal Reserve concluded a two-day meeting on monetary policy and kept interest rates unchanged. Both LME and SHFE base metals fell across the board overnight. LME aluminium closed the day’s trading at US$2036per tonne. Later on it gained...
LME aluminium inched up and likely to trade in a wide range; SHFE expected to hover above RMB 14,500/t level
The US dollar index inched up 0.17% overnight and stood at 94.5. LME closed the day’s trading at US$ 2061 per tonne, higher than the previous closing. The contract traded rangebound within a wide range on Tuesday night with a high of US$2,094 per tonne and a low of US$2,068 per tonne. While the...
LME aluminium likely to hit a high today on falling US dollar and stronger SHFE counterpart
The US dollar index dipped 0.33% overnight and stood at 94.3, ahead of economic data release and central bank monetary policy meetings this week. LME base metals, except for zinc, rose across the board on Monday. After closing at US$ 2054 per tonne on Monday, LME aluminium climbed past the five-day...
LME aluminium closed the last week at 10-day moving average; likely to stay rangebound this week
The dollar index slipped and closed at 94.66 last Friday as strong US economic growth in the second quarter failed to ease trade tensions. Most LME metals fell last Friday. LME aluminium closed the Friday trading at US$ 2055 per tonne and lost all of its early gains in the night trading hours and...
