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 $3,353/t; stocks remain unchanged at 244,525t
The LME aluminium price moved higher on September 9 compared with the previous trading day, with cash and three-month aluminium prices recording gains, while total warehouse stocks remained unchanged. On September 9, the LME aluminium cash bid price stood at USD 3351.5 per tonne, up USD 27.5 per...
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LME aluminium closes higher after holidays; downward pressure to continue in LME & SHFE
On the first day of trading after Easter Holidays on April 3, the LME aluminium contract closed at US$ 2010 per tonne , recovering from a near eight-month low of US$1997 a tonne on Thursday, March 29, before the holidays. LME aluminium lost its position of US$2,000 per tonne on today’s trading...
LME aluminium opened higher after Easter holidays; SHFE bullish on active trading
After Easter holidays LME aluminium opened higher today. Shanghai Metals Market expects it to rise and test support at the five-day moving average today and trade at US$2,005-2,030 per tonne. On Thursday, March 29, London Metal Exchange aluminium hit a near eight-month low, closing the week just...
LME closed for Easter holidays; SHFE rebounds on active trading and stable raw material prices
The London Metal Exchange is closed on Friday and Monday for the Easter holiday. On Thursday, London Metal Exchange aluminium hit a near eight-month low, closing just above $2,000 a tonne. SMM expects LME aluminium to hover around the US$2,000 per tonne level this week and trade at US$1,995-2,020...
LME aluminium plunges to a record low since August 2017; SHFE follows trend
The month of March is ending with bearish sentiment for LME aluminium as the light metal contract dipped sharply to US$1,996 per tonne overnight, a record low since August 2017. The contract closed at US$1997 per tonne yesterday March 29, down from US$2009 per tonne on Tuesday March 28. As the...
LME Aluminium plummets as the dollar index rose; SHFE remains rangebound with the pickup of demand
After registering a temporary gain on March 28, LME Aluminium contract dropped from US$2035 per tonne on Tuesday March 27 as US dollar index rose to 90 and finally closed at US$2009 per tonne on Tuesday March 28. Shanghai Metals Market expects the contract to trade at US$2,020-2,043 per tonne...
LME aluminium shows positive momentum on easing trade tension; SHFE expected to pick up in the short term
LME aluminium registered some gain over yesterday’s trading as the dollar index slipped by 0.1 per cent to 89.29 and closed lower as it met some strong resistance. The light metal contract finally closed at US$2035 per tonne on Tuesday March 27. Shanghai Metals Market expects the contract to trade...
LME aluminium falls further in absence of strong market fundamentals; SHFE follows the trend
LME aluminium continued to weaken overnight and closed the first trading day of the week at US$2022 per tonne on Monday March 26, and SMM expects this downward trend to continue today. SMM sees it trading at $2,035-2,060 per tonne today. According to Reuters, most base metals prices climbed on...
LME aluminium continues downward trend on bearish sentiment; SHFE awaits consumption recovery
Continuing with its downward pressure, LME aluminium is hovering at its lowest since late December. Metal prices also came under pressure amid mounting investor concerns that growing trade tensions would hurt the equilibrium in the global economy. LME aluminium saw weaker performance than its SHFE...
LME aluminium registers small gain supported by falling US dollar; SHFE continues to fall
Benchmark aluminium price on London Metal Exchange increased to close at US$2059 per tonne on Thursday, March 22, up from the previous day’s close at US$ 2056.5 per tonne. According to SMM, increasing US trade protectionism dragged aluminium prices down, with LME aluminium falling to lows of $2,063...
LME aluminium resumes downward trend; High inventories give pressure to SHFE aluminium
After a gain on Tuesday to US$ 2073 per tonne, LME aluminium resumed its downward trends and closed at US$ 2056.5 per tonne on Wednesday 21 March. As updated by Shanghai Metals Market, LME aluminium met resistance at the 10-day moving average and lacked strong support overnight. SMM expects the...
LME aluminium continues uptrend; SHFE registers a decline
Benchmark aluminium price on London Metal Exchange increased further to close at US$2073 per tonne on Tuesday, March 20, up from the previous day’s close at US$2070.5 per tonne. LME aluminium continued to consolidate and is expected to trade at US$2,070-2,095 per tonne today, according to SMM. The...
LME aluminium increases further; SHFE shows gain after continuous downtrend
Benchmark aluminium price on London Metal Exchange increased further to close at US$2070.5 per tonne on Monday, March 19, up from the previous day’s close at US$2069 per tonne. According to SMM, there will be limited downward room for the US dollar if interest rates increase. This may give little...
LME aluminium registers a temporary gain; SHFE on a downward trend
LME aluminium shows some positive gain after a drop last Friday. LME aluminium closed at US$2069 per tonne on Friday March 16, up from US$2062 per tonne on Thursday March 15. LME aluminium gradually fell with resistance at the $2,100 per tonne level, according to Shanghai Metals Market. SMM expects...
LME aluminium plummets on the back of rising US dollar and climbing inventory
Continuing with its downward pressure, London aluminium plummeted to its lowest since late December on Thursday on expectations of a supply gut as China's winter pollution controls expire, as the winter cuts did not have a substantial effect on China’s mounting inventory. Metal prices also came...
LME and SHFE aluminium likely to trade low as as China's winter pollution controls expire today
After closing lower at US$ 2080 per tonne on Tuesday 13 March, LME aluminium showed some positive gain and crept up to US$2096 per tonne on Wednesday March 14. With the dropping of euro and the rebound of US dollar index to around 89.7 overnight, most base metals climbed up yesterday. As updated by...
LME aluminium resumes downward trend; climbing inventory jeopardizes SHFE aluminium
After a modest gain on Monday to US$ 2097 per tonne, LME aluminium resumed its downward trends and closed at US$ 2080 per tonne on Tuesday 13 March. As updated by Shanghai Metals Market, LME aluminium met resistance at the five-day moving average and support at $2,100 per tonne last night. SMM...
LME aluminium gains on weaker dollar; SHFE aluminium fell to the lowest since 2016
LME aluminium continued falling through last week and closed with USD 2078.5 per tonne on Friday. However, the contract stayed firm above $2,100 per tonne over the weekend due to strong data from US non-farm payrolls. The LME aluminium contract gained higher to close at US$ 2097 per tonne on March...
LME and SHFE aluminium continue downward trends on the back of trade tensions in the international market
LME aluminium continued falling closing the week with USD 2078.5 per tonne, down from USD 2082.5 per tonne the day before. The contract stayed firm above $2,100 per tonne over the weekend due to strong data from US non-farm payrolls. Shanghai Metals Market expects it to test the five-day moving...
