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 $3,353/t; stocks remain unchanged at 244,525t
The LME aluminium price moved higher on September 9 compared with the previous trading day, with cash and three-month aluminium prices recording gains, while total warehouse stocks remained unchanged. On September 9, the LME aluminium cash bid price stood at USD 3351.5 per tonne, up USD 27.5 per...
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LME aluminium feels pressure on rising US dollar despite the ease out of trade war between US and EU; SHFE stays rangebound
The US dollar rose 0.6% last night to close at 94.76 as the euro fell. Base metals inched up for the most part as market worries eased after the US and EU stepped back from a potential trade war and agreed to be at the negotiation table. LME aluminium closed yesterday’s trading at US$ 2054 per...
LME aluminium continues to be under pressure on worries over a trade war; SHFE stays flat
The US dollar dipped to around 94, and closed at 94.19. Base metals were under pressure from ongoing worries over a trade war even though the EU and US declared a ceasefire. LME aluminium fell 0.7% from Tuesday to close at US$ 2056.50 per tonne. The contract jumped after opening overnight, to a...
LME dropped yesterday to close at US$ 2082 per tonne; inventory piles up on prospect of sanction clearance
The US dollar index fell 0.05% to close at 94.58 with pressure from a stronger euro, which was buoyed by robust German economic data. LME base metals rose across the board overnight. After closing yesterday’s trading lower at US$ 2082 per tonne, LME aluminium rallied twice, and hit a high of...
Hydro’s Q2 2018 EBIT for primary aluminium sees 49% Q-o-Q decline on lower production growth
Hydro in its latest report has unveiled results of the second quarter of 2018, covering each product like bauxite, alumina, primary aluminium, and downstream exclusively. In one of our previous news, we have already discussed the results of bauxite and alumina production. Now, coming to primary...
LME aluminium started the week higher and pulled its SHFE counterpart up despite the lackluster market
The US dollar climbed up steadily and closed at 94.62 last night. Most base metals fell for the most part with pressure from a strengthened US dollar. The LME aluminium contract closed at US$2130 per tonne on Monday July 23, up from the last closing. The contract tested pressure at the 20-day...
LME aluminium closed the last week slightly higher; SHFE under pressure on low demand
The US Treasury secretary Steven Mnuchin said on Friday that Rusal is likely to be taken off the US list of sanctioned entities if acceptable solutions can be found. The LME aluminium contract closed the day’s trading at US$2075 per tonne. The contract then broke pressure at the five-day moving...
LME aluminium contract closed a little higher, likely to stay rangebound on ongoing US-China trade conflicts
The US dollar index fell from one year's high and closed at 95.09, slightly up from Wednesday. Base metals dipped across the board on ongoing trade conflicts between China and the US. After diving down the day before, LME aluminium contract closed a little higher at US$ 2062 per tonne yesterday....
LME aluminium dived to a low of US$2,040 per tonne; SHFE to remain rangebound
The US dollar index inched down from a three-week high but still stood above the 95 level and closed at 95.09. Base metals mostly consolidated at low levels. As longs exited at highs, LME aluminium dived to a low of US$2,022 per tonne during the European trading session after touching US$2,045 per...
Both LME and SHFE aluminium lost on the impact of trade war and slower growth in Chinese consumption
Base metals saw mixed trading on the impact of trade war and slower growth of China's economy. LME aluminium lost 1.5%. The light metal contract traded within a broad range overnight with support at the five-day moving average and resistance at the 10-day one. It closed at US$2,031.5 per tonne...
LME rebounded on expectation of the US lifting sanctions against Russia: SHFE stays low on weak consumption
Base metals dipped for the most part on slower growth of China's economy in the second quarter. The key development today is the release of US industrial production data for June. LME aluminium jumped to a high of US$2,074 per tonne and closed above the five-day moving average last night. The...
Both LME and SHFE closed the last week slightly lower, expected to stay rangebound in the short term
The US dollar index dipped after it rose, with pressure from poorer-than-expected US consumer confidence. Base metals mostly inched up but faced resistance from the expected fallout from the trade war. After trading slightly lower last Friday, LME aluminium failed to break pressure at the five-day...
LME aluminium plummets on talk of U.S. easing sanctions on Rusal; SHFE to remain rangebound in short term
LME aluminium plummeted to a low of US$2,032 per tonne overnight before it recovered some losses on talk that the US would ease sanctions on aluminium giant Rusal. LME aluminium contract closed lower at US$ 2104.5 per tonne yesterday July 12 from US$ 2120.5 per tonne on July 11. Shanghai Metals...
LME closes further down yesterday; SHFE 1809 contract on recovery supported by higher input cost
The US dollar index gained 0.66% to close at 94.72 as its inflation data came in stronger than expected. LME aluminium closed Thursday’s trading at US$ 2120.5 per tonne, down from US$ 2140 per tonne in last closing. LME aluminium rebounded to a high of US$2,086 per tonne during the European trading...
LME aluminium hovers at 10-day moving average level; SHFE feels pressure on low downstream demand
The US dollar index gained 0.04% to close at 94.09 as the euro weakened. LME aluminium closed Wednesday’s trading at US$ 2140 per tonne, slightly up from US$ 2135.5 per tonne in last closing. LME aluminium tumbled from above the 10-day moving average level to a low of US$2,081.5 per tonne on...
LME aluminium registers a rise after consecutive falls; SHFE gains support from higher alumina price
After a continuous downtrend, LME aluminium registered a rise and closed at US$ 2135.5 per tonne on Monday from US$ 2098.5 per tonne in the previous closing. It registered a second consecutive rise last night. It stood firm above the five-day moving average, jumping to a high of US$2,134.5 per...
LME aluminium dipped last Friday on escalated US-China tension; expected to trade lower this week
The US dollar index hit a three-week low to around 93.9 and closed at 94 last Friday night. This was 0.52% lower from a week ago, marking the biggest loss in four weeks. LME base metals felt downward pressure on escalated tension between China and the US. LME aluminium dipped slightly and closed at...
LME aluminium closed slightly higher; SHFE plummeted to a new low of RMB13,940/t
The US dollar dipped to a three-week low ahead of the tariffs on $34 billion of Chinese imports. Base metals mostly ceased their downward trend but remained weak. Benchmark aluminium price on London Metal Exchange increased to close at US$2127 per tonne on Thursday, July 5. After touching a high of...
Aluminium export by India up 36% to 1.66 million tonnes in 2017-18; while imports dropped 15%
Figures of the Union commerce and industry ministry indicated that aluminium exports from the country increased by 36 per cent in 2017-18, aided by global demand, which outstripped supply. The declaration of US tariffs on aluminium and steel imports from most of the countries, a 21 per cent growth...
