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 slips while SHFE aluminium prepares for a medium-term rebound
LME aluminium dropped marginally on the first trading day of the week. The light metal contract came down from its last week’s close at US$2,256 per tonne to close at US$2,235 per tonne on Monday, January 22. Shanghai Metals Market analysis suggests that LME aluminium will remain strong and trade...
LME aluminium registers gain to US$ 2,256 per tonne on Friday January 19, SHFE falls short
LME aluminium managed to hold grounds as it registered a must awaited gain to stand at US$ 2,256 per tonne on Friday January 19 from 2,225 per tonne on Thursday January 18. Shanghai Metals Market analysis sees LME aluminium trading at $2,200-2,230 per tonne today, after the historical data showed a...
Surge in China’s aluminum exports seen causing little disruption in Asia
The recent rise in China’s aluminum exports has had a limited impact on the Asia market to date due to the moves that participants made to protect their businesses after a similar surge in 2015, market sources said Friday. London Metal Exchange aluminum prices traded higher than Shanghai Futures...
LME aluminium holds ground; SHFE expected to face resistance at RMB 14,300 per tonne
LME aluminium managed to hold grounds as it registered a moderate gain to stand at US$ 2,225 per tonne on Thursday January 19 from 2,187 per tonne on, Wednesday January 18. Shanghai Metals Market analysis suggests that LME aluminium will stay range-bound at US$2,220-2,250 per tonne on Friday,...
LME aluminium sustains gains, while SHFE aluminium falls ahead of China GDP data release
LME aluminium managed to hold grounds as it showed modest gain to US$2,197.50 per tonne during morning trading hours on Wednesday, January 17. However, the light metal contract fell marginally to close at US$2,187 per tonne, still up from US$2,172 per tonne on Tuesday, January 16. Shanghai Metals...
LME aluminium slips as ingot supply increases; SHFE aluminium under pressure
LME aluminium price dropped as ingot flow increased and US dollar index regained strength on Tuesday, January 16. The light metal contract which started the week at around US$2,233 per tonne, slipped to US$2,172 per tonne after night trading yesterday. Shanghai Metals Market analysis suggests that...
LME aluminium gains on sustained demand; fundaments weak for SHFE aluminium
LME aluminium traded higher by 0.9 per cent at US$2,233 per tonne on Monday, January 15, as demand remained high. The light metal contract later came down to close at US$2,227.50 per tonne, still higher than previous week’s close at US$2,215 per tonne. Shanghai Metals Market forecasts that LME...
LME aluminium hit 10-day high on Jan 12; SHFE aluminium faces resistance
After a brief marginal, mid-week drop, LME aluminium rose 1.1 per cent to reach a 10-day peak at US$2,239 per tonne on Friday, January 12. The consistent rise in the light metal prices can be partly viewed as a result of the erosion in global aluminium supply caused due to output cuts in China. LME...
LME aluminium holds ground; SME lies low on the face of oversupplied market in China
LME aluminium registers another gain after continuous drop and according to Shanghai Metals Market; the light metal contract would test the effectiveness of the five-day moving average following a slump, trading at $2,170-2,190/t today. LME aluminium contract gained from US$ 2159 per tonne on...
LME aluminium registers small gain supported by falling US dollar; SHFE follows suit
LME aluminium shows some positive gain after continuous drop and sees pressure at the five-day moving average and is expected to trade at $2,165-2,195/t. The light metal contract gained from US$ 2143.50 per tonne on January 9 to close at US$ 2159 per tonne on January 10. As on January 10, LME...
LME aluminium continues downward trend; china's growing output to put pressure on prices
LME aluminium continued to drop and the 20-day moving average may not provide enough support today. The initial positive trend is slowing down and market sentiments are being driven by concern over the futility of China’s output cut and the growing aluminium output. The light metal contract plunged...
Both LME and SME aluminium are on a downward curve after the short positive phase
The temporary high phase of LME aluminium at the end of 2017 is fading away as the light metal contract dropped further from US$ 2205.5 per tonne on January 5 to close at US$ 2177.50 per tonne on January 8. As seen by Shanghai Metals Market, a rising US dollar would accelerate the drop of LME...
LME aluminium closes the first trading week of 2018 at US$ 2205.5/t; downtrend expected in both LME and SME
After registering some gains at the start of the New Year, LME aluminium is on a downward trend driven by dollar’s uptrend and higher Chinese inventory. The support of the 10-day moving averages became weaker for LME aluminium and Shanghai Metals Market expects the light metal contract to trade at...
LME aluminium drops on rising dollar; SHFE shows restraint after continuous downtrend
The dollar edged up on Thursday after upbeat U.S. data and supportive minutes from the Federal Reserve’s latest policy meeting helped it shake off recent weakness. After registering some gains at the start of the New Year, LME aluminium is on a downward trend driven by dollar’s uptrend and higher...
LME aluminium dips on Chinese inventory gain and rising US dollar index
After making a strong start to the New Year, LME aluminium fell slightly as US Dollar index consolidated daily gains by rising to 92.25 from the previous mid-91.00s. The dip was also partly driven by the Chinese refined aluminium inventory data which touched record highs in November. The light...
LME aluminium starts 2018 on a firm note; but rising Chinese inventory may stunt growth
LME aluminium marks a strong start to 2018. The light metal contract which had ended at US$2,241.5 per tonne on December 29, rose by 0.6 per cent to close at US$2,256 per tonne on Tuesday, January 2. Technical analysis suggests that LME aluminium will trade higher in the range of US$2,250-2,285 per...
LME stays up on the last trading day of the year; expected to remain high in the first quarter of 2018
The last week of 2017 gave LME aluminium strong upward momentum lifting up to a high not seen since March 2012. Open interest has also increased to 690,000 lots from 662,000 mt, while the SHFE-LME ratios moved lower to around 6.7. The aluminium contract in LME which started from the lows of...
LME aluminium to hit yearly high on the last day of trading in 2017
LME aluminium is nearing a stupendous 2017 close. The light metal contract which has been seen rising from the lows of US$1,700 per tonne in the beginning of this calendar year to US$2,175 per tonne in October closed at US$2,246 per tonne yesterday, December 28. The bullish trend is influenced by...
