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 $3,353/t; stocks remain unchanged at 244,525t
The LME aluminium price moved higher on September 9 compared with the previous trading day, with cash and three-month aluminium prices recording gains, while total warehouse stocks remained unchanged. On September 9, the LME aluminium cash bid price stood at USD 3351.5 per tonne, up USD 27.5 per...
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Both LME and SHFE aluminium to trade rangebound with downward room on stronger US dollar
LME aluminium received support and rebounded to close at US$ 2313 per tonne on May 15 from US$ 2285.5 per tonne on previous closing. After that it fell to a low of $2,274 per tonne last night. The contract is expected to trade range bound with downward room today as the US dollar strengthened and...
LME aluminium surged to a high as the US- Sino trade tensions eased
LME aluminium gained 1.82% after touching a low of US$2,263.5 per tonne at one point last Friday.The metal surged to a high of US$2,325 per tonne last night with support from calm US-Sino trade tension. Benchmark aluminium price on London Metal Exchange increased to close at US$ 2285.50 per tonne...
Glencore and Rusal request LME to remove suspension on Rusal’s aluminium
According to a source, both Glencore and UC Rusal have urged the London Metal Exchange to temporarily lift its suspension on Rusal’s aluminium, followed by an extension of the sanctions deadline on Russian aluminium companies. The US Treasury Department had extended the sanctions deadline on Rusal...
LME aluminium dipped to its lowest in a week on Friday; SHFE edged down
LME aluminium touched a low of US$2,263.5 per tonne at one point during the European trading session last Friday. Benchmark aluminium price on London Metal Exchange fell to close at US$ 2273.50 per tonne on Friday, May 11 from US$2327 per tonne on Thursday May 10. SMM expects LME aluminium to trade...
Rusal’s Q1 2018 revenue increases 20% YoY driven by higher LME aluminium prices
Leading global aluminium producer UC RUSAL announced results for the three months ended 31 March 2018. The company’s recurring net profit increased 22.4% to $531 million in Q1 2018, from $434 in the same period last year. Revenue in the first quarter of 2018 was $2,744 million as compared to $2,297...
Both LME and SHFE aluminium are surging high as short positions are taking over longs
LME aluminium surged high during yesterday’s trading and closed at US$2,327 on Thursday May 10, from US$2295 per tonne on Wednesday May 9. With a surge in positions, LME aluminium fluctuated significantly and closed at a low level overnight. As shorts are in a more advantageous position than longs,...
LME aluminium surged to a high of US$2,370/t in the morning; SHFE closed flat
After showing gain and closing at US$2384 per tonne on Tuesday May 8, LME aluminium closed down at US$ 2295 per tonne on Wednesday May 9. The metal surged to a high of US$2,370 per tonne from a low around US$2,280 per tonne overnight. Shanghai Metals Market expects it to test support at the five-...
LME aluminium opens higher after Early May Bank Holiday; SHFE likely to hover at highs
LME aluminium opened higher after Early May Bank Holiday. Benchmark aluminium price on London Metal Exchange increased to close at US$ 2384 per tonne on Tuesday, May 8, from US$2316 per tonne on Friday May 4. LME aluminium is expected to trade at US$2,330-2,380 per tonne today. As on May 8, LME...
LME remains closed on May 7; SHFE 1807 climbed to a high of RMB 14,755 per tonne overnight
London Metal Exchange was closed on Monday May 7 due to Early May Bank Holiday. Shanghai Metals Market expects LME aluminium to expand upwards along the 20-day moving average today with a trading range of US$2,320-2,370 per tonne. The benchmark aluminium price on Shanghai Metal Exchange increased...
LME aluminium hits 2-week high after some progress on US-China trade talks
Most base metals rose as the US-China trade negotiations made some progress. LME aluminium increased 2.6 per cent and hit a two-week high, as seen by Shanghai Metals Market. Benchmark aluminium price on London Metal Exchange dropped to close at US$ 2316 per tonne on Friday, May 4, from the previous...
LME aluminium surged high to close at US$2,349 on May 3; SHFE to hover at a narrow range
LME aluminium surged high during yesterday’s trading and closed at US$2,349 on Thursday May 3, from US$2269 per tonne on Wednesday May 2. LME aluminium traded around the 20-day moving average overnight and we expect it to trade at US$2,260-2,320 per tonne today. As on May 3, LME aluminium cash...
LME aluminium surges further; SHFE follows trend
LME aluminium surged to a high of US$2,330 per tonne at one point overnight. Benchmark aluminium price on London Metal Exchange further increased to close at US$ 2269 per tonne on Wednesday May 2, from US$2258 per tonne on Tuesday, May 1. SMM sees limited upward momentum with no development in the...
LME aluminium shows gain; expected to trade in the range of US$2,235-2,270/t
LME aluminium registered gain after a drop on Monday. Benchmark aluminium price on London Metal Exchange increased to close at US$2258 per tonne on Tuesday, May 1, up from the previous day’s close at US$ 2224 per tonne on Monday April 30. SMM expects LME aluminium to trade rangebound at...
LME aluminium prices slip on U.S. tariff delay; China market remains close
Most of the base metals remained rangebund before the pre-Labour Day weekend when the China market remains closed. Benchmark aluminium price on London Metal Exchange dropped to close at US$2224 per tonne on Monday, April 30, down from the last week’s close at US$ 2249 per tonne on Friday, April 27....
LME aluminium saw the biggest weekly drop in recent times last week despite closing higher on Friday April 27
Benchmark aluminium price on London Metal Exchange increased to close at US$2249 per tonne on Friday, April 27, up from the previous day’s close at US$ 2204 per tonne on Thursday April 26. LME Aluminium lost about 8.2 per cent over last week, having fallen sharply on Monday and Tuesday with the...
LME aluminium surges high in the morning after closing low on Thursday; SHFE follows trend
After showing some gain and closing at US$2248 per tonne on Wednesday April 25 after three days of falling, LME aluminium closed down at US$ 2204 per tonne on Thursday April 26. The light metal contract then surged to a high of US$2,316 per tonne overnight after the news that Oleg Deripaska,...
LME aluminium gains after a three-day losing streak; SHFE to stay range-bound
After a three-day losing streak in the previous session, driven by the deadline extension to comply with U.S. sanctions on Rusal, LME aluminium contract finally saw some gain and closed at US$2248 per tonne on Wednesday April 25 from US$ 2222 per tonne on Tuesday April 24. The metal saw the...
LME aluminium falls for the second day after the extension of Rusal sanction, SHFE to trade range-bound
After a wild week of surging, LME aluminium fell 7 per cent on Monday, its biggest one-day drop in eight years, after the United States had extended the deadline for companies to complete business with sanctions-hit Russian producer Rusal. LME aluminium fell further yesterday and hit a low of...
