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 opens higher on the first day of post-holiday trading
LME aluminium opened higher on the first day of trading after Christmas Holidays. The global macroeconomics remaining positive, the light metal contract rose by 2.9 per cent from the previous week’s close at US$2,137 per cent to US$2,199 per cent on Wednesday, December 27. Technical analysis...
LME aluminium to open strong in post-Christmas trading
Aluminium contract traded on London Metal Exchange is expected to see some corrections in the short term once the bourse resumes trading after the Christmas Holidays toady. LME aluminium increased steadily last week and closed at US$2,137 per tonne on Friday, December 22. Technical analysis...
LME touches US$ 2137/t mark on December 22; SHFE aluminium may be rangebound today as LME is off
LME has registered some substantial growth last week at the start of the holiday season with the benchmark LME prices rising above US$ 2130/t. LME aluminium closed at US$ 2137 per tonne on Friday December 22 registering a growth of 1.4%. Trading was closed on December 25 due to Christmas holiday....
LME registers substantial gain before Christmas holiday; SHFE still slow on low demand and no support from alumina
LME has registered some substantial growth during the holiday season with the benchmark LME prices rising above US$ 2130/t. LME aluminium registered a record high in Friday's trading and today trading closes at 12.30 ET on Christmas holiday. As on December 22, LME official cash buyer aluminium...
LME up on rangebound trading; SHFE aluminium down on lower alumina price
The end of the year is seeing some substantial growth in benchmark LME prices closing at US$ 2108.50/t. LME aluminium recorded a six-week high in last night’s trading SMM expects to see rangebound trading next, at $2,130-2,160/t today. As on December 21, LME official cash buyer aluminium price (Bid...
LME aluminium uptrend lacks momentum as alumina prices continue to slide
The uptrend in LME aluminium seems to be lacking momentum. With alumina prices declining in China domestic market (US$438 per tonne as on December 21 down from US$538 per tonne on November 21) the light metal contract is expected to rise but within a narrow range. Technical analysis suggests that...
LME aluminium to test resistance at 40-day moving average; may rise above US$2,090/t
LME aluminium is climbing higher at a moderate pace. The light metal contract which closed at US$2,047 per tonne on Monday, December 18, rose by 0.6 per cent to close at US$2,061 per tonne on Tuesday, December 19. Technical trend analysis suggests that LME will test the resistance at the 40-day...
LME aluminium climbs higher; further headway expected
LME aluminium has resumed its uptrend. The light metal contract having risen from US$2,036 per tonne on Friday, December 15, closed at US$2,047 on Monday, December 18 amid positive market fundamentals. Current price trend analysis suggests that LME aluminium will rise further. It is expected to...
LME aluminium reverses downtrend to stay buoyed amid positive market sentiment
LME aluminium prices continued to rise during morning trading hours on Monday, December 18, amid fairly positive market sentiment. The light metal which stopped dropping last week closed at US$2,036 per tonne on Friday, December 15, up from US$2,017 on Thursday, December 14. Current price trend...
LME aluminium edges higher; to remain range-bound at 10-day moving average
A falling US dollar index and China’s November aluminium output data lifted LME aluminium prices above the US$2,000 per tonne mark on Thursday, December 14. Despite higher inventory level, the light metal contract rose from US$1,997 per tonne on Wednesday, December 13, to close at US$2,017 after...
LME aluminium continues to be volatile; range-bound trading forecasted in the near term
In absence of inventory support, which has been increasing of late and rising aluminium exports from China, LME aluminium failed to stay above the US2,000 per tonne mark. After rising to US$2,004 per tonne on Tuesday, December 12, the light metal contract again dropped to US$1,997 per tonne on...
LME aluminium holds above USD 2000/t level despite volatility; LME stocks up due to more stocks in Malaysia
LME aluminium is resisting the downward trend trying to settle over USD 2000. After trending downwards for the last week, the light metal finally crossed USD 2000 level and closed at USD 2004 per tonne on Tuesday December 13. According to SMM, LME aluminium is expected to stay volatile at a low...
LME aluminium closes slightly lower, but the trend to reverse soon
LME aluminium has stopped declining. After trending downwards for the last four consecutive days, the light metal finally rose 0.5 per cent to touch US2,002 per tonne on Monday, December 11. However, after night trading, the contract dropped slightly to close at US$1,991.5 per tonne. Technical...
LME aluminium remains below US$2,000/t during volatile weekend
LME aluminium closed below US$2,000 per tonne mark last week indicating at an obvious stretch of short-term volatility. The light metal contract ended at US$1,992 per tonne on Friday, December 8, down from US$1,994 per tonne a day before. Shanghai Metals Market holds a slightly different outlook...
A00 ingot prices continue downward trend in China; analysts forecast demand-supply balance in the second half of 2018
A00 ingot prices in China are constantly falling after the winter cut started in November. Experiencing few significant drops since the last week of November, average A00 ingot price today stands at RMB 13,920/t. As updated by Shanghai Metals Market, the primary ingot price registered a drop of...
Price correction takes LME aluminium below US$2,000/t mark
It is quite apparent now that the global aluminium market ex-China is moving toward a surplus. The expectations of tighter supply because of smelter capacity cutbacks in China seem to have started fading now as the cuts have been less than expected. In China, on the other hand, primary aluminium...
LME aluminium is on downward track driven by fading expectations on supply tightness in China
The market's expectations of supply tightness of aluminium due to the capacity cut in China is slowly fading away as the winter production cuts have been less than expected and the Chinese aluminium output kept on increasing over the period. That led LME aluminium prices to correct over November...
LME aluminium prices remain flat today, higher oil and alumina prices to keep price high in medium term
The month of November was marked by lower LME aluminium prices and on the whole aluminum prices decreased by 5.6% during this month. Aluminum prices rallied since August 2017 and broke the resistance levels. However, despite the price declines in November, the early days of December is showing some...
