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 wakened to a low of US$2,083/t, SHFE climbed on talk of aluminium production cuts
Most LME and SHFE base metals dropped last night. LME aluminium wakened to a low of US$2,083 per tonne before rebounding to USS$2,103 per tonne. LME aluminium contract closed lower at US$ 2120.5 per tonne yesterday July 4 from US$ 2165 per tonne on July 3. Shanghai Metals Market expects the...
LME aluminium plunged overnight after closing slightly higher yesterday; SHFE to remain rangebound
The US dollar inched down to close at 94.58 on a stronger Euro before the US Independence Day holiday. Despite that base metals went down on worries over global trade conflicts and weak Chinese manufacturing data released earlier this week. The LME aluminium contract closed slightly higher at US$...
LME aluminium drops to US$ 2153 per tonne yesterday on strong greenback; SHFE continues downward trend
The US dollar index rose above 95 with support from robust manufacturing data in the country. Base metals dipped across the board on strengthened US dollar and weaker Chinese manufacturing data. After trading higher for two days, the LME aluminium contract closed lower at US$ 2153 per tonne...
LME aluminium closed higher on Friday; expected to cease the downward trend today
LME base metals saw mixed trading on Friday June 29. LME aluminium broke the support at US$2,150 per tonne and dipped to a low of US$2,130 per tonne last Friday. The metal closed at US$ 2183 per tonne on Friday, June 29, from US$ 2173 per tonne on Thursday June 28.SMM expects it to cease the...
LME aluminium fell on growing worries over global trade wars; SHFE to stay weakly rangebound in short term
Base metals and LME aluminium fell overnight on growing worries over global trade wars. LME aluminium fell to a low of US$ 2,142 per tonne with open interests up 2,702 lots to 672,000 lots. The metal closed lower at US$ 2173 per tonne on Thursday, June 28, from US$ 2204.5 per tonne on Wednesday...
LME aluminium rebounded yesterday on softening of US approach towards China; SHFE follows suit
Most base metals and LME aluminium rebounded overnight on Tuesday and continued to trade higher as the US softened its approach to investment restrictions on China. LME aluminium surged over 2% recovering all the losses this week and rebounded to between the five- and 10-day moving averages. The...
LME aluminium closed lower yesterday; SHFE continues to remain bearish
LME aluminium dropped from the previous closing of US$ 2172 per tonne and closed at US$ 2152 per tonne yesterday June 27. The US dollar index was up 0.4% at 94.66 on Tuesday. Most base metals rebounded overnight. LME aluminium surged over 2% recovering all the losses this week and rebounded to...
LME aluminium closed higher on Monday; SHFE to remain low on falling alumina and prebaked anode prices
LME aluminium rebounded with the dipping of US dollar and closed Monday’s trading at US$ 2172 per tonne. LME aluminium was dragged down by its SHFE counterpart to close at a low of US$2,149.5 per tonne last night. It is expected to recover some losses and move close to the five-day moving average...
LME aluminium closed the week lower on Friday; expected to trade higher today on dipping greenback
The US dollar index dipped and closed at 94.52 last Friday. LME aluminium rebounded to a high of US$2,188.5 per tonne last Friday night after closing the day’s trading at US$ 2166 per tonne as the US dollar dipped. It closed at highs at US$2,176.5 per tonne during night trading with open interests...
LME aluminium continues downward trend; SHFE to trade at RMB14,150-14,300/t today
LME aluminium rebounded to a high of US$2,193 per tonne from a session-low of US$2,162.5 per tonne overnight. Benchmark aluminium price on London Metal Exchange dropped to close at US$2167 per tonne on Thursday, June 21. SMM sees pressure at the five-day moving average and support at the US$2,160...
LME aluminium prices tumbled to its lowest since April after global aluminium production surged
LME aluminium tumbled to the weakest since April after data showed world primary aluminium production increased to 5.441 million tonnes in May. The metal failed to receive support at US$2,177 per tonne last night and touched a low of US$2,165 per tonne, Shanghai Metals Market reports. LME aluminium...
LME aluminium continues to fall in absence of strong fundamentals and growing trade tensions; SHFE follows suit
LME aluminium fell further and closed at US$ 2179 per tonne yesterday from US$2220.50 per tonne on Monday. Then the contract broke the US$2,200 per tonne level overnight as the US dollar index registered a fresh high in 11 months. Without support from fundamentals and with the growth in the US...
Downtrend continues in LME aluminium; SHFE 1808 opens lower after the holiday
As the US dollar came off from highs, LME aluminium rebounded to a high of US$2,228.5 per tonne on Monday after it fell to a low of US$2,193.5 per tonne. Finally the contract closed the day at US$2220.50 per tonne. Shanghai Metals Market expects LME aluminium to trade range bound at lows today with...
LME aluminium on a downtrend on stronger US dollar; SHFE remains closed on Dragon Boat Festival
LME aluminium, which hit its weakest in seven weeks at $2,200.50 a tonne on Friday, recaptured the 100-day moving average as it traded at US$2215. The contract closed at US$2239.50 per tonne on Friday. Pressure from a stronger dollar pushed the contract down and a holiday in China drained buying...
LME aluminium drops slightly on yesterday's closing and hovering at the 20-day moving average, SHFE on a downtrend
Base metals fell with the rising US dollar and LME aluminium closed slightly lower at US$ 2277.50 per tonne on Thursday 14 June from US$ 2278 per tonne on Wednesday June 13. Over the night trading, LME aluminium rebounded back to around the 20-day moving average after being dragged down by its SHFE...
LME aluminium closes lower on rising of US dollar; SHFE expected to dip further
Base metals fell across the board overnight with the rising of US dollar and LME aluminium closed lower at US$ 2278 per tonne from US$ 2309 per tonne. Shanghai Metals Market expects LME aluminium to edge up with a trading range at US$2,270-2,290 per tonne. As on June 13, LME aluminium cash (bid)...
LME closed slightly higher yesterday but fell to low overnight; SHFE trades rangebound
LME aluminium attempted to stand above the daily moving average and closed higher at US$ 2309 per tonne on June 12 from US$ 2300 per tonne. The US dollar index closed at 93.8 overnight, up 0.26%. The index rose over 0.3% at one point after the “truly historic” US-North Korea Summit. Base metals...
LME aluminium struggles to stand above the daily moving average; SHFE to stay rangebound
The aluminium contract returned to the five and 40 days moving averages at US$ 2287.50 per tonne on June 8 after a bullish run whole week. LME aluminium attempted to stand above the daily moving average and closed higher at US$ 2300 per tonne. The contract touched a high of US$2,325 per tonne with...
