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 drops; neutral trading expected in US$2,081-2,103/t range
LME aluminium continues to move in a wide trading range. From the earlier close of US$2,092 per tonne on Tuesday, August 29, the light metal contract fell to US42,066.5 per tonne on Wednesday, August 30. According to Shanghai Metals Market forecast, LME aluminium will continue to hover around its...
LME aluminium likely to swing widely; may retrace US$2,065/t
LME aluminium seems to be somewhat losing its steam. The light metal which closed at US$2096.50 last Friday, August 25, dropped to US$2,092 per tonne on Tuesday, August 29. As per Shanghai Metals Market forecast, LME aluminium will continue to move widely around the 5-day and 10-day moving averages...
LME aluminium may fall after meeting resistance at moving averages
LME aluminium remained unchanged at US$2,096.50 per tonne till yesterday, August 28, as London Stock Exchange was closed due to summer bank holiday. On resuming trading today, the light metal contract is expected to fall in the range of US$2,060-2,085 per tonne. As per Shanghai Metals Market...
India’s aluminium production to rise at 3.5% CAGR through 2020, CARE Ratings report suggests
Aluminium production in India is projected to rise at a compound annual growth rate (CAGR) of 3.5 per cent over the next 2-3 years fuelled by the rising domestic demand, according to a new report by CARE Ratings. The report titled “Aluminium Industry: The Silver Knight of the Economy,” says that...
LME aluminium corrects down, but likely to trade in a wide range
LME aluminium corrected down from the highs of US$2,105 per tonne on Thursday, August 24, to US$2,096.50 per tonne on Friday, August 25. Though the correction, analysts say, is reasonable following the huge price gains, it is likely to give in to a wide-range trading in the short term. According to...
Rusal’s Q2 profit more than doubles; aluminium production increases QoQ to 921,000 tonnes
With the LME cash official aluminium price rising 11.4 per cent year-to-date and 16.7 per cent year-on-year to US$1,909 per tonne at the end of June 2017, Rusal’s profit more than doubled reaching US$283 million during the second quarter of the current financial year. The world’s second largest...
LME aluminium inches higher but likely to continue testing support
<p>LME aluminium inches higher again and is back to where it was a couple days before. The light metal contract after dropping to US$2,082.50 per tonne on Wednesday, August 23, rose back to US$2,105 per tonne on Thursday, August 24. However, this rise is unlikely to extend in the short term....
LME aluminium fails to break a key resistance; retraces to US$2,080/t
<p>On failing to break a key resistance at US$2,125 per tonne, LME aluminium retraced to US$2,080 per tonne level. The light metal contract closed at US$2,082.50 per tonne on Wednesday, August 23, coming down from its earlier high of US$2,104.50 per tonne a day before. According to Shanghai...
LME aluminium back to US$2,104/t, but may fall on growing stocks
<p>After a temporary dip below US$2,100 per tonne mark, LME aluminium is back to where it was last week. Drawing support from positive market fundamentals the light metal edged higher to US$2,104.50 per tonne after night trading on Tuesday, August 22, from the earlier close at US$2,084.50 per tonne...
LME aluminium likely to slide into US$2,046-2,055/t range
<p>The upward momentum in LME aluminium prices is likely to slow down this week. The bullish sentiment that prevailed last week with investors flooding in the market is settling down. LME aluminium which had closed at US$2,104 per tonne last Friday, August 18, came down to US$2,084 per tonne on...
LME aluminium crosses US$2,100/t mark, but may drop after facing a resistance
<p>LME aluminium is on a solid upward trend. Drawing support from strong market fundamentals, the light metal climbed steadily to close at US$2,104.50 per tonne, up 11.5 per cent from US$1,887 per tonne at the beginning of this month.</p> <p>Reuters’ technical analysis suggests that LME...
LME aluminium continues its upward trend; to test support at the 5-day moving average
<p>LME aluminium continues its upward trend with another leap from US$2,075 per tonne on Wednesday August 16 to close at US$2,095.50 per tonne on Thursday, August 17. As reported by Reuters, LME aluminium may settle into a range of US$2,081- 2,089 per tonne as it has stabilized around a...
LME aluminium to rise further; may retest resistance at US$2,103/t
<p>The uptrend in LME aluminium is continuing. The light metal shone bright sharing the sheen on other base metals and closed at US$2,075 per tonne on Wednesday, August 16, rising from its earlier close of US$2,056 per tonne on Tuesday, August 15. Shanghai Metals Market forecast says LME aluminium...
LME aluminium hits the highest since November 2014; SHFE aluminium regains strength
<p>LME aluminium after testing an upper-end support at US$2,046 per tonne surged to cross the US$2,050 per tonne mark and closed at US$2,056 per tonne on Tuesday, August 15. The light metal rose by 1.28 per cent from its earlier close at US$2,030 per tonne on August 14. According to Shanghai Metals...
LME aluminium dips; may retest a support at US$2,021/t
<p>LME aluminium gave up some its recent gains and dipped slightly as the dollar bounced back and the market started digesting the news of Chinese aluminium capacity cuts. The light metal closed at US$2,030 per tonne on Monday, August 14, down from its earlier close of US$2,040.50 per tonne last...
Downstream aluminium producers throng spot market after SHFE aluminium falls
<p>According to an SMM report, downstream producers thronged the East China spot market after SHFE 1708 aluminium fell over 200 RMB/tonne on Monday morning.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/smm.jpg" alt="News"...
LME aluminium keeps climbing higher and how! Consolidation is in forecast
<p>LME aluminium is trending high. With the Chinese supply-side scenario looking a bit precarious and the US dollar turning broadly lower against major currencies on Friday, August 11, the light metal is expected to climb higher. LME aluminium rose from its earlier close of US$2,024 per tonne on...
LME aluminium settles over US$2,000/t mark, outperforms SHFE on positive market sentiment
<p>Finally, the most awaited turnaround in the aluminium market seems to have arrived! LME aluminium which hit the highs after more than two-and-a-half-years has crossed the US$2,000 per tonne mark on Wednesday, August 9, at US$2,018 per tonne and climbed further up to close at US$2,024 per...
