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 $3,353/t; stocks remain unchanged at 244,525t
The LME aluminium price moved higher on September 9 compared with the previous trading day, with cash and three-month aluminium prices recording gains, while total warehouse stocks remained unchanged. On September 9, the LME aluminium cash bid price stood at USD 3351.5 per tonne, up USD 27.5 per...
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LME aluminium falls by 10% after US hints at easing sanctions on Rusal
LME aluminium registered the biggest one-day decline in history and lost close to 10 per cent. The metal tumbled to a low of US$ 2,237 per tonne following the US Treasury Department’s announcement to extend the time limit for US and non-US citizens to wind up business with Rusal, according to SMM....
LME aluminium drops after continuous rise; SHFE registers a decline
After a gain on Thursday to US$ 2602.5 per tonne, LME aluminium closed lower at US$ 2463 per tonne on Friday April 20. As updated by Shanghai Metals Market, given the US sanctions on Rusal and the anticipated production cut, LME aluminium technically remains its upward trend but with weaker...
LME aluminium continues uptrend; SHFE likely to go up to RMB 14,900-15,100 /t
Benchmark aluminium price on London Metal Exchange increased further to close at US$2602.5 per tonne on Thursday, April 19, up from the previous day’s close at US$ 2528.50 per tonne on Wednesday April 18.According to Shanghai Metals Market, LME aluminium dipped to a low of US$22,397 per tonne and...
Japanese companies stop procuring aluminium from Rusal following US sanctions: Sources
Following Glencore and Rio Tinto’s decision to declare force majeure on Russian aluminium contracts, Japanese companies have asked Russia’s united company Rusal not to ship refined aluminium and other products to them further. On the occasion of US sanctions against world’s No. 2 aluminium producer...
LME aluminium climbed 5.7% to a fresh high since August 2011
As seen by Shanghai Metals Market, LME aluminium registered a fresh high since August 2011 at one point overnight .The metal closed at US$ 2528.50 per tonne on Wednesday April 18, up from US$2375.5 per tonne on Tuesday, April 17. SMM sees considerable upward room for it given the sweeping influence...
LME aluminium inches up slightly; SHFE shows gain
Benchmark aluminium price on London Metal Exchange increased further to close at US$2375.5 per tonne on Tuesday, April 17, up from the previous day's close at US$ 2358.50 per tonne. According to Shanghai Metals Market, LME aluminium rebounded and closed at US$2,411 per tonne after it dipped to a...
LME aluminium soars to a record high since September 2011; SHFE follows trend
As seen by Shanghai Metals Market, LME aluminium soared and hit a high of US$ 2,403 per tonne since 2011, at one point overnight. The metal closed at US$ 2358.50 per tonne on Monday April 16, up from US$ 2325 per tonne on Friday April 13. As US sanctions on Rusal continues to cast a shadow on the...
LME aluminium shows gain; expected to trade in the range of US$2,260-2,295/t
LME aluminium shows some gain after a drop last Thursday. LME aluminium closed at US$2325 per tonne on Friday April 13, up from US$ 2220.5 per tonne on Thursday April 12. SMM expects LME aluminium to trade rangebound at a relatively high level of RMB US$2,260-2,295 per tonne today. Despite the US...
LME aluminium drops after consecutive rise in last three days; SHFE registers gain
Benchmark aluminium price on London Metal Exchange dropped to close at US$ 2220.5 per tonne on Thursday, April 12, down from the previous day’s close at US$ 2253 per tonne. According to Shanghai Metals Market, US sanctions on Russia buoyed LME aluminium as investors added their long bets overnight....
LME aluminium gains for five consecutive days to touch a record high; SHFE drops on sluggish demand
LME aluminium registered five consecutive days of gains as the US imposed sanctions on Russian aluminium giant Rusal. It hit US$2,277.5 per tonne overnight, a record high since early January 2018. After testing a record high the metal contract finally closed at US$ 2253 per tonne on Wednesday April...
LME to suspend Rusal’s metal from its brand list; aluminium price is on surge
Since when the Trump administration has announced punitive sanctions against a list of Russian individuals and entities including the aluminium-giant Rusal, every individual associated with aluminium industry has been anticipating the most dreadful conditions to come. One of them was Rusal’s...
LME aluminium climbed 3.7% to a two months high driven by US sanctions on Rusal; SHFE follows the trend
LME aluminium climbed 3.7% to a record high in two months, driven by US sanctions and trade restrictions on Rusal. LME aluminium tested a high of $2,242 per tonne overnight as the US dollar weakened and as the US-Russia trade conflict took over the trade war issue. Reuters reported yesterday London...
US sanction lifts LME aluminium above US$2000 per tonne; SHFE aluminium follows the uptrend
US sanctions on Rusal has lifted the LME aluminium price, creating metal supply insecurities among traders and investors. LME aluminium contract rallied two per cent on Monday’s trading and finally closed at US$2,113-per tonne on April 9 from US$1967 on Friday, April 6. Shanghai Metals Market...
Sanction on Rusal to keep prices high in the short term; shares fall further in Hong Kong Exchange
As reported by Reuters shares of aluminium producer Rusal, owned by Russian billionaire Oleg Deripaska plunged as much as 41.8 per cent on Monday in Hong Kong Exchange after the U.S. administration announced sanctions on its co-founder Oleg Deripaska and seven other firms linked to him. They were...
LME aluminium corrects down to US$1967 per tonne after gaining 2.2% on Friday; SHFE reopens with a gain
After registering a record low in eight months, LME aluminium touched a high at $2,063 per tonne last Friday. After the announcement that the U.S. sanctioned and froze Oleg Deripaska's assets subject to US jurisdiction, aluminium prices on the London Metal Exchange gained by 2.2% at the close on...
Rusal's shares fall and LME surges on US sanctions of Mr Deripaska; LME to continue with Rusal listing
The Trump administration imposed punitive sanctions on Friday April 7, which includes seven Russian oligarchs, 12 companies they own or control, as well as 17 senior Russian government officials. The sanctions are an extension of US sanctions passed in response to Russia’s 2014 invasion of Crimea,...
LME aluminium’s sharp fall worries market participants; likely to test support at US$2007 in the short term
The most dreaded downturn in aluminium that was worrying analysts during the peak period in 2017 seems to be approaching. Trump’s trade restrictions on import acted as a catalyst in the already volatile meal market. LME continues downward trend without any strong fundamental in the international...
LME aluminium dips much below US$ 2000 in the face of worldwide trade tensions; SHFE remains close today
LME continues downward trend as there is no strong fundamental in the international market. The inventories are high and the market is buzzing with trade restrictions and counter actions among countries. After losing its position of US$2,000 per tonne on yesterday’s trading after seven days of...
