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 $3,353/t; stocks remain unchanged at 244,525t
The LME aluminium price moved higher on September 9 compared with the previous trading day, with cash and three-month aluminium prices recording gains, while total warehouse stocks remained unchanged. On September 9, the LME aluminium cash bid price stood at USD 3351.5 per tonne, up USD 27.5 per...
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LME aluminium back to 40 days moving averages; 1808 became the most traded contract in SHFE
LME aluminium had been on a higher range last week with the consolidation of the US dollar. The aluminium contract closed the week lower at US$ 2287.50 per tonne on June 8 from US$ 2331 per tonne on June 7. The contract returned to the five and 40 days moving averages and Shanghai Metals Market...
LME aluminium closes further up on falling US dollar; SHFE touched a low after a consolidating
The US dollar index extended its decline overnight and closed at 93.44. LME aluminium is on a higher range this week with the consolidation of the US dollar. LME aluminium contract closed higher at US$ 2331per tonne on June 7 from US$ 2317.50 per tonne on June 6. The contract dropped close to 2%...
LME closed higher and stands above all moving averages today; SHFE stays rangebound
LME aluminium is on a higher range this week with the consolidation of the US dollar. LME aluminium contract closed slightly higher at US$ 2317.50 per tonne on June 6 from US$ 2314.50 per tonne on June 5. The contract hit a high of US$2,344 per tonne overnight after touching a low of US$2,307 per...
LME closed slightly lower and expected to trade rangebound today; SHFE likely to consolidate at current levels
After starting the week on a high with the consolidation of the US dollar LME aluminium closed slightly lower at US$ 2314.50 per tonne on June 5 from US$ 2324.50 per tonne on June 4. LME aluminium hovered around the US$2,320 per tonne level overnight after hitting a high of US$2,340 per tonne....
LME aluminium starts the week on a high; likely to remain strong in the short term
LME aluminium started the week on a high with the consolidation of the US dollar and closed at US$ 2324.50 per tonne. The contract came off a high overnight after it rose to a high of US$2,343 per tonne as the US dollar rebounded. As its trading level expands upwards, Shanghai Metals Market expects...
LME aluminium regained some losses on Friday night after closing lower; SHFE rebounded to keep pace with LME
The LME aluminium contract closed at US$2271 per tonne on June1 from US$2265.5 per tonne on previous closing, mostly driven by a strong dollar. LME aluminium regained some losses last Friday night with support from several moving averages. Shanghai Metals Market expects it to try to stand firmly...
LME aluminium gains to close at US$2285.50 per tonne yesterday on weakening US dollar; SHFE stays rangebound
The US dollar index weakened but remained at high levels around 94 with support from robust US data on employment and the PCE price index. The LME aluminium contract recovered from the 40-day moving average and closed at US$2285.50 per tonne on May 31 from US$2265.5 per tonne on previous closing....
LME aluminium recovers slightly on consolidating US dollar; SHFE to continue its rangebound pattern
The US dollar index fell from a six-month high to around 94 overnight due to the lower-than-expected employment data and GDP from the US, intensified worries over US-Sino trade conflicts and a rebound in the euro. LME base metals rose for the most part. The contract recovered from the 40-day moving...
Surging US dollar pushes LME aluminium down further; SHFE aluminium to remain rangebound
The US dollar index surged to a high since November last year at 95.03 overnight and closed 0.47% higher from Monday at 94.85 on the plunging Euro. Base metals went down across the board as a result. LME aluminium contract tumbled to a low of US$2,248 per tonne overnight. The contract plunged below...
LME aluminium to trade rangebound on strong greenback; SHFE stays low on recommissioning of capacity
The US dollar index touched a five-month high last night at nearly 94.5 before it closed 0.18% higher at 94.41, on US-North Korea discussions and a weakening euro. Trading was off in LME on May 28 on the occasion of Late May Bank Holiday. LME aluminium was depressed by a rising US dollar index on...
LME aluminium closed on Friday with week’s highest, expected to fall today with rising US dollar index
The US dollar index touched a high of 94.3 last Friday and closed 0.62% higher at 94.24 due to robust US manufacturing data and weakened euro. LME aluminium was depressed by a rising US dollar index on Friday May 25 and closed the week with US$2282 per tonne from US$ 2270 per tonne on previous...
LME aluminium gains after three consecutive falls; SHFE expected to rise further
LME aluminium climbed up after three consecutive falls and closed higher at US$ 2270 per tonne on May 24 Thursday from US$ 2227 per tonne on previous closing. The contract climbed up further and touched a high of US$2,293.5 per tonne as most base metals gained last night. Shanghai Metals Market...
LME aluminium on downward trend and falls below 40-day moving average; SHFE likely to rise on falling inventory
LME aluminium continued downward trend and closed lower at US$ 2227 per tonne on May 23 Wednesday from US$ 2265.50 per tonne on previous closing. The contract fell below the 40-day moving average to a low of US$2,239 per tonne last night as the US dollar gained. It then rebounded above the five-day...
LME aluminium is losing momentum with easing of trade tensions; SHFE aluminium dips on slow demand
LME aluminium stood rangebound and closed lower at US$ 2265.50per tonne on May 22 Tuesday from US$ 2278.5 per tonne on previous closing. The US dollar index dipped from its five-month high to close at 93.59 last night after US-Sino trade tension eased down. Base metals saw mixed trading overnight....
LME aluminium closed lower at US$ 2278.5 per tonne yesterday; SHFE to stay rangebound over the day
Base metals saw mixed trading on higher US dollar price, but LME aluminium went up slightly last week on the new of easing of sanction on Rusal. LME aluminium stood rangebound and closed lower at US$ 2278.5 per tonne on May 21 Monday from US$ 2297 per tonne on previous closing. According to...
LME aluminium consolidates on news of Deripaska’s exit from Rusal and strong greenback; SHFE to stay rangebound
Russian oligarch Oleg Deripaska quit the boards of EN+ and its subsidiary Rusal on Friday. The action is expected to ease the sanctions on Rusal soon. As the US treasury yield climbed, the US dollar index rose 1.2% to close at 93.66 and reached a new high at 93.83 since December 2017 on Friday....
LME aluminium prices fall on inventory rise; SHFE hit a high of RMB14, 925/t
LME aluminium prices faced pressure overnight as Chalco called for a lift of China's tariff on primary aluminium's export, as seen by SMM. Base metals mostly inched up last night, but LME aluminium fell nearly 1% as inventories grew. The metal closed at US$ 2280 per tonne on May 17 from US$ 2319.50...
LME stays bullish despite strong US dollar; SHFE to strengthen further in the medium term
Base metals saw mixed trading on higher US dollar price, but LME aluminium went up slightly. LME aluminium received support and closed at US$ 2319.50 per tonne on May 16 from US$ 2313 per tonne on previous closing. After that the contract dipped to a low of US$2,302 per tonne during the European...
