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 gathers strength and prepares to rise higher
LME aluminium staged a reversal and rallied notably during night trading on Thursday, October 19. The light metal contract rose from the previous close of US$2,106 per tonne on Wednesday, October 18, to close at US$2,128.5 per tonne yesterday. Reuters’ technical analysis suggests that LME aluminium...
LME aluminium drops further; may approach next support at US$2,103/t
LME aluminium is sliding down the price graph. The light metal contract which closed at US$2,111 per tonne on Tuesday, October 17, dropped to close at US$2,106 per tonne after night trading on Wednesday, October 18. Reuters’ technical analysis suggests that LME aluminium may break a support at...
A strong dollar weighs down LME aluminium; may rise on falling inventories
LME aluminium dropped from its current highs as September U.S. Dollar index futures rallied on Monday, October 16 after a key Federal Reserve Index of business conditions rose to a three-year high. The light metal contract closed at US$2,111 per tonne after night trading yesterday, down from...
LME aluminium prices strengthen on declining inventories
LME aluminium prices are holding at highs. With the inventories falling by 10,800 tonnes to 1,218,950 tonnes, the light metal contract edged further up to close at US$2,144 per tonne on Monday, October 16 from US$2,140 per tonne last Friday, October 13. Technical analysis and recent price movements...
LME aluminium to trade in a wide range; may retest support at US$2,130/t
LME aluminium is trending high supported by a dipping dollar index, low inventory, strong demand, and positive Chinese economic data. The light metal closed higher at US$2,140 per tonne on Friday, October 13, rising from US$2,117.5 per tonne on Thursday, October 12. Shanghai Metals Market observes...
LME aluminium falls further; SME is stable before the upcoming CPC National Congress
Aluminum prices are slowly falling after the last rise on October 9. As the news of winter capacity cut during November-December are fading away positive market sentiments are slowing down too putting pressure on price. After closing at US$2,124 per tonne on Wednesday, October 11, it came down...
LME aluminium drops further; may break support at USD 2,125 per tonne
Aluminum prices are falling back again after a rise on October 9. According to SMM analysis, the fall was driven by the rumour that one aluminium smelter in Shandong was exempted from winter capacity cut during November-December. SMM expects LME aluminium to move within a lower range of USD...
LME aluminium continues to struggle; may rise as USD drops in step
Strong demand and a low inventory level are buoying LME aluminium prices up but the contract seems to be struggling at the 5-day moving average. After closing at US$2,135 per tonne on Monday, October 9, it came down slightly to US$2,133 per tonne after night trading on Tuesday, October 10. Shanghai...
LME aluminium may rise in the range of US$2,160-2,185/t; may retest resistance at US$2,174/t
LME aluminium is staggering up the price curve. The light metal contract which ended last week in a drop at around US$2,121.5o per tonne, edged higher on Monday, October 9, to close at US$2,135 per tonne. Overall base metal prices on LME too outperformed their counterparts on Shanghai Futures...
LME aluminium to fluctuate widely within US$2,135-2,165/t
LME aluminium is on a moderate uptrend. The light metal contract ended last week in a marginal drop from its earlier close at US$2,124 per tonne on Thursday, October 5. The closing price for LME aluminium on Friday, October 6, was US$2,121 per tonne. Shanghai Metals Market (SMM) forecasts that LME...
LME aluminium inches lower as US dollar holds gain
LME aluminium has dropped slightly. With the US dollar index moving higher after strong US data, the light metal contract slipped to US$2,124 per tonne on Thursday, October 5, from the earlier close of US$2,139 per tonne. Reuters’ technical analysis suggests that LME aluminium may break a...
LME aluminium jumps to US$2,139.5/t; further rise is likely
LME aluminium has gained further. The light metal contract which closed at US$2,114 per tonne on Tuesday, October 3, reversing its current downtrend toward US$2,066 per tonne, has jumped to US$2,139.50 per tonne on Wednesday, October 4. Reuters’ technical analysis suggests that LME aluminium may...
LME aluminium recovers recent losses and end higher, above US$2,000/t
LME aluminium reversed its temporary downtrend and edged higher to cross the US$2,000 per tonne mark. The light metal which retraced its September 18 lows of US$2,067 per tonne on Monday, October 2, increased to US$2,114 per tonne on Tuesday, October 3. A study of the recent price trend suggests...
LME aluminium headed for a near-term downtrend; revisits Aug 30 low of US$2,066t
LME aluminium has come under pressure. With the US Dollar index trading higher by 0.5 per cent on the day (October 3), the light metal contract crossed the US$2,000 per tonne mark and fell into the US$2,065-US$2,085 range. After night trading on October 2, Monday, LME aluminium closed at US$2,067...
LME aluminium inches higher in week ending Sept 29, but may fall below US$2,100/t
LME aluminium is under moderate pressure as US Dollar index is still on an upward track. The light metal contract closed at US$2,110.50 per tonne on Friday, September 29, up from US$2,102 per tonne on Thursday, September 28. Reuters’ technical analysis suggests that LME aluminium may break a...
LME aluminium down at US$2,102/t; may rise but within a limited range
LME aluminium slips further down the price curve. The light metal which stood at around US$2,116-2,117 per tonne for the last two consecutive days, September 26 and 27, fell to US$2,102.50 per tonne on Thursday, September 28. Technical analysis suggests that LME aluminium may rise slightly into...
LME aluminium remains fairly unchanged; likely to hover at lows due to a stronger dollar
LME aluminium has slowed down on its uptrend. The light metal contract which closed at US$2,116 per tonne last Tuesday, September 26, inched higher to close at US$2,117 per tonne on Wednesday, September 27. Technical analysis suggests that LME aluminium may move within US$2,120-2,140 per tonne on...
LME on a downward track after the leap last week, to move within a narrow range
LME has been on a downward track for last few days after a big leap last week. The light metal contract which closed at US$2,128 per tonne on Monday, September 25, came down to close at US$2,116 per tonne on Tuesday, September 26. Technical analysis suggests that LME aluminium may test a support at...
