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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Both LME and SME aluminium dip further after Chinese holidays; trading resumes at SHFE market today
<p>After touching US$1,954 per tonne on Thursday May 25 and followed by a drop, LME aluminium hit a new high of USD 1,968/mt during the Dragon Boat Festival in China, but then tumbled to the 40-day moving average. LME aluminium plunged 1.2% low to close at US$ 1943.50 per tonne on Tuesday, May 30....
LME aluminium dips slightly after testing month’s highest; SHFE 1707 expected to rise after holidays
<p>After touching the highest for the month at US$1,954 per tonne on Thursday May 25, LME aluminium has plunged slightly low to close at US$1,950 per tonne on Friday, May 26. LME aluminium may rise during the Dragon Boat festival holiday, which will allow SHFE 1707 aluminium to rise as well after...
Week in Review: LME aluminium price rise, new projects and improved results make headlines
<p>Primary aluminium industry was abuzz with some good news this week. Aluminium prices on London Metal Exchange picked up on steady demand. A weak dollar and rising crude oil prices gave the light metal the much needed support to reverse its recent downtrend. LME aluminium which closed at US$1,943...
Rising crude oil prices boost LME aluminium, SHFE aluminium edges higher
<p>LME aluminium is continuing its uptrend. The light metal after having risen for two days at a stretch rose for the third day gathering strength from the rising crude oil prices, which got a boost from the news on OPEC agreeing to extend oil cut agreement by 9 more moths. LME aluminium closed at...
LME aluminium regains strength as dollar weakens, SHFE aluminium moves in a tight range
<p>LME aluminium reversed the temporary drop and regained its upward momentum as the US dollar index weakened further after the release of not-so-inspiring Fed’s May policy meeting minutes. The light metal traded globally closed at US$1,944 per tonne on Wednesday, May 24, rising 0.93 per cent...
LME aluminium dips after testing resistance at around US$1,947/t, SHFE continues to fall
<p>After picking up pace on news that the OPEC countries may extend their oil output cut agreement, LME aluminium has plunged low on yesterday’s closing as a natural trend after testing resistance at around US$1,947 per tonne. LME aluminium plunged 0.87 per cent from its previous close of...
LME aluminium on upward track; SHFE Aluminium plunges on poor market fundamentals
<p>LME aluminium has picked up the pace. The light metal which was trending low a week ago has gained momentum on news that the OPEC countries may extend their oil output cut agreement. LME aluminium rose 0.25 per cent from its previous close of US$1938 per tonne to close at US$1,943 per tonne on...
LME aluminium rises sharply before facing a technical correction this week
<p>LME aluminium ended last week on a high. The light metal traded globally jumped to US$1,938 per tonne on Friday, May 19, the highest in the month so far. The 1.73 per cent rise in LME aluminium price from the previous close of US$1,905 per tonne can be partly attributed to the weak US dollar...
LME aluminium price drops to find strong support at US$1,900/t, SHFE aluminium struggles
<p>LME aluminium gave up its recent gains and dropped to US$1,905 per tonne Thursday, May 18, from its previous peak at US$1,928 per tonne on May 17. The light metal traded globally finds a strong support at US$1,900 per tonne. Shanghai Metals Market (SMM) forecast says LME aluminium price...
LME aluminium gathers strength from a weak dollar, analysts show cautious optimism
<p>LME aluminium is inching higher through at a ‘cautiously moderate’ pace. The light metal traded globally closed at US$1,928 per tonne on Wednesday, May 17, up 0.67 per cent from its previous close of US$1,915 per tonne on Tuesday, May 16. LME aluminium gathered support partly from...
LME aluminium rises but may retrace to US$1,890/t, SHFE aluminium to move at highs
<p>LME aluminium finally broke the downtrend it was tracing of late by closing at US$1,899.50 per tonne on Monday, May 15. The light metal traded globally rose further by 0.8 per cent to close at US$1,915 per tonne on Tuesday, May 16. Reuters’ technical analysis suggested that LME...
LME aluminium breaks above US$1,890 resistance, may gain further
<p>LME aluminium finally broke above the resistance zone of US$1,890-1,892 per tonne and closed higher at US$1,899.50 per tonne after night trading on Monday, May 15. Shanghai Metals Market forecasts that the light metal traded globally will keep moving in the range of US$1,890-1,914 per tonne on...
LME aluminium ends week down on oversupply issues, may inch up within limits
<p>LME aluminium gave up its marginal gain last week and dropped to US$1,880 per tonne after night trading on Friday, May 12. The 0.37 dip was caused due to oversupply issues looming large over global aluminium market. According to Shanghai Metals Market (SMM), LME aluminium will perform...
RUSAL reports robust financial results in Q1 2017, driven by operational efficiency and stronger LME prices
<p>UC RUSAL, the leading global aluminium producer reported robust financial results for the First Quarter of 2017, attributed to its operational efficiency and cost discipline, supported by stronger LME prices.</p> <p><img style="vertical-align: middle;"...
LME aluminium inches higher, likely to test support at US$1,883.4/t
<p>LME aluminium finally took a hiatus from its recent slide to close at US$1,887 per tonne after night trading on Thursday, May 12. The light metal traded globally rose 0.9 per cent from its previous close of US$1,870 per tonne mainly on the news of China shutting down outdated and illegal...
LME aluminium drops further as oversupply concerns persist, SHFE aluminium edges up
<p>The recent downfall in LME aluminium prices enters its sixth day. The light metal traded globally has dropped by 2.4 per cent since it last hit US$1,916 per tonne on May 3. On Wednesday, May 10, LME aluminium closed at US$1,870 per tonne, down 0.21 per cent from its previous close of...
Global glut and plunging crude oil prices continue to keep lid on LME aluminium
<p>The global surplus of aluminium and the recent bottoming out of global crude oil prices have already dragged LME aluminium prices down below the US$1,900 per tonne level. The light metal contract traded globally closed at US$1,874 per tonne on Tuesday, May 9, down 0.26 per cent from its previous...
LME aluminium nears a technical correction, SHFE aluminium drops on short selling
<p>LME aluminium prices are on a steady downtrend. The light metal contract traded globally closed at US$1,879 per tonne on Monday, May 8, down 1.46 per cent from its previous close of US$1,907 per tonne on Friday, May 5. After the fourth day consecutive of descent Shanghai Metals Market...
