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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Reuters projects aluminium will face the worst week in 18 months on China’s growing output
According to a Reuters report, LME aluminium showed some upward movement on Friday and was on a positive territory, the metal is set to face the worst week since May 2016 from Monday. The fall is primarily driven by growing aluminium output in China despite the capacity cut plans and execution....
LME aluminium slides below US$2,100/t on tepid demand
LME aluminium after having risen to US$2,188 per tonne in a month has caught on a down trend. Due to subdued demand in China and a more or less plateaued consumption in rest of the world, the light metal has given up its gain and gradually heading towards US$2,046 per tonne support. From...
LME aluminium headed for the next support at US$2,081/t; further declines to follow
LME aluminium, as projected, dropped to US$2,103.50 per tonne on Thursday, November 8, after testing support at US$2,148 per tonne. The light metal which closed at US$2,131 per tonne on Wednesday, November 7, has declined by 0.03 per cent till date from its latest high of US$2,188 per tonne on...
LME aluminium retreats downward after testing support at US$2,148/t
LME aluminium is likely to enter consolidation before it rises again. The light metal contract upon testing a support at US$2,148 per tonne fell to US$2,131 per tonne after night trading on Tuesday, November 7. The earlier close was at US$2,152 per tonne on November 6. Reuters’ technical analysis...
LME aluminium volatile within a narrow range; likely to test support at US$2,148/t
LME aluminium is extending its swing within a narrow range. The light metal contract which edged higher on November 3 to US$2,165 per tonne from US$2,152 per tonne on November 2, has retraced back to the same level. Reuters’ technical analysis suggests that LME aluminium is biased to test a support...
Consolidation on the cards for LME aluminium in US$2,174-2,218/t range
LME aluminium is heading towards a consolidation in the range of US$2,174-US$2,218 per tonne, suggests price analysis by Reuters. The light metal which traded within a neutral range last week closed at US$2,165 per tonne on Friday, November 3, up from its previous close at US$2,152 per tonne on...
LME aluminium drops marginally over looming production cuts in China
LME aluminium remained essentially flat during Thursday’s day trading weighed upon by the supply concerns arising from China’s looming production cuts. After night trading, the light metal contract came down to close at US$2,152 per tonne, from the earlier close of US$2,188 per tonne on Wednesday,...
Positive developments in the LME week lift LME aluminium to US$2,188/t; SME falls short
LME aluminium has been holding strong and climbed beyond it support level from US$2,140 per tonne on Tuesday, October 31 to US$2,188 per tonne on Wednesday, November1. A break below this level could cause a loss to US$2,125 per tonne in the near term. Positive developments in the LME week are...
LME aluminium holds ground but may drop after testing support at US$2,148/t
LME aluminium held fairly steady at its current level sliding marginally from US$2,143 per tonne on Monday, October 30 to US$2,140 per tonne on Tuesday, October 31. The wave pattern of aluminium prices on LME reveals a support at US$2,148 per tonne. A break below this level could cause a loss to...
Dollar weakens to provide LME aluminium a breather; price jumps to US$2,143/t
December U.S. dollar index traded lower on Monday, October 30, lifting LME aluminium from its last weekend low. The light metal contract edged higher to close at US$2,143 per tonne after yesterday’s night trading, up from US$2,119 per tonne on October 27. Reuters’ technical analysis suggests that...
Alba’s net income surges 80% YoY driven by higher LME prices & Line 5 recovery operations
Aluminium Bahrain B.S.C (Alba) presents its financial results for Q3 and 9 months of 2017. The company’s top-line and bottom-line were driven by higher LME prices and the speed recovery of Line 5 operations. The Company reported a total sale of BD 235.3 million (US$ 625.8 million) IN Q3 2017, up...
London Metal Exchange lays out timeline for reform
The London Metal Exchange has laid out the timeline for its plans to reform and reverse declining volumes ahead of an annual gathering of the metals industry in London starting Oct. 30. Discussions during LME Week will range from LME fee cuts to new charges on the use of LME prices for...
Strong dollar weighs on LME aluminium; price falls below US$2,120/t
LME aluminium prices slid on Friday, October 27, reversing the uptrend the light metal has been following, as dollar strengthened towards the end of the week. The greenback hit three-month highs after rallying sharply over the last few weeks. LME aluminium closed at US$2,119 per tonne after...
LME aluminium holds above US$2,170/t on China supply worries
With speculations rife on dwindling aluminium and its raw material supplies from China, LME aluminium kept surging higher on Thursday, October 26, and closed at US$2,175 per tonne, up from its previous close at US$2,149.50 per tonne on Wednesday, October 25. The biasness towards and upside was so...
LME aluminium breaches US$2,200/t mark and hits five-year high
LME aluminium rallied on Wednesday, October 25, surging to its highest since March 2012. The light metal contract surged amid speculations of dwindling supply from China due to winter capacity cuts, and a weaker dollar before closing down at US$2,149.50 per tonne (up from US$2,144 per tonne on...
LME aluminium inches up; may break above a resistance at US$2,171/t
LME aluminium seems to be neutral within a wide range. The light metal contract which closed at US$2,133.5 per tonne on Monday, October 23, inched higher to close at US$2,144 per tonne on Tuesday, October 24. Reuters’ technical analysis suggests that LME aluminium may break a resistance at US$2,171...
LME aluminium down by 1.18%; to trade neutrally in US$2,127-2,154 range
LME aluminium failed to hold ground at/around its recent price gain and fell by 1.18 per cent from its previous close at US$2,159 per tonne on Friday, October 20. The light metal contract closed at US$2,133.50 per tonne on Monday, October 23. Reuters’ technical analysis suggests that LME aluminium...
LME aluminium jumps higher but biased to fall back at US$2,127/t
LME aluminium ended last week in a substantial rise. The light metal contract closed at US$2,159 per tonne on Friday, October 20, up from US$2,128.50 per tonne the previous day. Shanghai Metals Market predicts that LME aluminium will struggle around the moving averages and range at US$2,120-2,150...
