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...
Grow with
AL Circle
Impending trade war jeopardizes both LME and SME; LME closes further down with support at $2,100 per tonne
The US dollar rebounded above 90 overnight, while base metals saw mixed trading. LME aluminium is struggling under increasing downward pressure and closed further down at US$ 2082.50 per tonne on March 8. However, the contract inched up and received support at US$2,100 per tonne overnight. Shanghai...
LME aluminium edges down further amid trade tensions; SHFE follows suits with bearish trend
Concerns that the U.S. could slap down import tariffs on aluminium as well as steel have dragged those metals down. LME aluminium edged down during yesterday’s trading and overnight and is set to test support at $2,100/mt today. LME aluminium is struggling under increasing downward pressure and...
LME aluminium registers a slight gain; SHFE upbeat on news of capacity cut continuation in China in 2018
With the US dollar hovering around the 90 level at the backdrop of the trade war between the US and other countries, base metals are expected to remain rangebound. LME aluminium started the week with a drop and remained almost flat today. In the short term, Shanghai Metal Market expects the US...
LME aluminium starts the week with a drop; to be rangebound at the five-day moving average
With the US dollar hovering around the 90 level at the backdrop of the trade war between the US and other countries, base metals saw mixed trading. LME aluminium started the week with a drop. In the short term, Shanghai Metal Market expects the US dollar to continue to hover at 89.9 with...
LME aluminium closed the last week slightly higher; SHFE aluminium expected to be rangebound today
LME aluminium closed the last week with a slight increase after US President Donald Trump announced that the country would impose a 10% global tariff on all imported aluminium. The contract traded higher over the day and finally closed at USD2144 per tonne on Friday, March 2. Shanghai Metals Market...
LME aluminium slips further; expected to trade higher today on aluminium tariff news
As seen by Shanghai Metals Market LME aluminium is still under pressure from the strong US dollar and dropped to close at USD2143 per tonne on Thursday, March 1. LME aluminium rebounded and hit a high at $2,164.5 per tonne after US President Donald Trump announced that the country is to impose a...
LME aluminium slips on the back of strong US dollar; SHFE up on active trading
As seen by Shanghai Metals Market LME aluminium came under pressure from the strong US dollar and slipped to a low of USD2,129/t overnight and finally closed at USD2158 per tonne on Wednesday, February 28. Since LME aluminium inventory growth has come to a halt, aluminium prices on the bourse are...
LME aluminium drops further, but may firm up as inventory growth comes to a halt
The benchmark aluminium price on London Metal Exchange slipped further from US$2,188.50 per tonne to US$2,172.52 per tonne on Tuesday, February 27, as stocks were available and selling was regular. But finally LME aluminium inventory growth has come to a halt, which means aluminium prices on the...
LME aluminium corrects lower as short bets create downward pressure
After having crossed the US$2,200 per tonne mark last Friday, LME aluminium dropped again on Monday, February 27, as nearby aluminium spreads came under intense pressure. The light metal contract closed at US$2,188.50 per tonne, down from US$2,210 per tonne on February 23. Shanghai Metals Market...
LME aluminium crosses US$2,200/t mark, but likely to fall back upon testing resistance
The benchmark aluminium price on London Metal Exchange climbed higher on Friday, February 23, to cross the US$2,200 per tonne mark as the market got direction from the return of China to trading after Lunar New Year Holidays. The light metal contract closed at US$2,210 per tonne, up from US$2,190...
Rusal’s full year revenue increases 25% YoY on strong aluminium demand and rising LME prices
Leading global aluminium producer UC RUSAL announced all-round growth in terms of performance (production and sales) as well as income for the 12-month period ended December 31, 2017. The Russian aluminium giant with fully-integrated aluminium value chain operations posted 24.9 per cent increase in...
LME aluminium gains marginally, but likely to fall back after testing resistance
Benchmark aluminium price on London Metal Exchange inched slightly higher on Thursday, February 22, as US dollar index weakened lifting prices across the board. The light metal contract closed at US$2,194 per tonne, up from US$2,190 per tonne on Wednesday, February 21. Shanghai Metals Market...
LME aluminium drops further due to lack of direction from China market
Benchmark aluminium price on London Metal Exchange was mostly lower during the Asian morning trading hours on Wednesday, February 21, as buyers backed away to wait and watch what China did with prices once it returned to trading on February 22. The light metal contract fell back at US$2,190 per...
LME aluminium drops marginally due to quiet trading
Benchmark aluminium price on London Metal Exchange dropped marginally on Tuesday, February 20, as trading remained mostly muted during Asian morning trading hours. The light metal contract closed at US$2,239 per tonne, down from US$2,266 per tonne on Monday, February 19. After the US Commerce...
LME aluminium touches monthly high after U.S. Commerce raises import tariffs
Benchmark aluminium price on London Metal Exchange surged significantly after the U.S. Commerce Department recommended implementation of a quota on aluminium imports from specific countries- a 7.7 per cent tariff on aluminium shipped from all countries, or a 23.6 per cent tariff on imports from...
LME aluminium closes higher supported by tight spreads; further rise likely
Benchmark aluminium price on London Metal Exchange closed 2 per cent higher at US$2,189.50 per tonne on Friday, February 16, as spreads tightened and price competition grew among market participants. Aluminium spreads have widened to a US$10 premium for cash over benchmark aluminium as the major...
LME aluminium reverses downtrend but surging inventory may cap the price rise
LME aluminium is finally showing some signs of recovery. The light metal contract closed at US$2,164 per tonne on Thursday, February 15, up from US$2,138 per tonne on Wednesday. However, the dramatic rise in LME aluminium stocks is likely to create a downward pressure on the price rise. The...
LME aluminium stocks increase nearly 30%; price inches up slightly
Benchmark aluminium price on London Metal Exchange edged higher on Thursday, February 14, even though LME aluminium stocks rose nearly 30 per cent over the last the trading days. In the largest single aluminium delivery into LME-listed warehouses since March 19, 2014, 166,225 tonnes of aluminium...
