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 may trail behind SHFE aluminium and test support at US$1,889/t
<p>The descent in LME aluminium prices seems to be continuing this week. The light metal traded globally plummeted during Friday’s night trading to end the week-long journey at US$1,907 per tonne, down 0.36 per cent from its previous close at US$1,916 per tonne on Thursday, May 4. Shanghai...
LME aluminium retraces US$1,909/t; SHFE aluminium rebounds after drifting lower
<p>The downtrend in LME aluminium prices seem to be continuing in the foreseeable future. The light metal traded globally retraced US$1,909 per tonne on Thursday, May 4, down 0.3 per cent from the previous day’s close of US$1,916 per tonne. Reuters’ analysis suggests LME aluminium may...
LME aluminium inches higher on capacity crackdown rumour in China
<p>LME aluminium prices have finally gained some strength after falling for four days at a stretch. The light metal traded globally closed at US$1,916 per tonne on Wednesday, May 3, up 0.36 per cent from its previous close of US$1,909 per tonne on Tuesday, May 2. Shanghai Metals Market (SMM)...
LME aluminium headed further south, SHFE aluminium seeking support at US$1,988/t
<p>LME aluminium prices are in retreat due to the supply side reforms initiated in China. Though Goldman Sachs holds a better price outlook for the light metal in the coming months (US$2,100 in 12 months), the recent price drop seems to be taking the sheen off the light metal to a certain extent....
LME aluminium to move in a tight range; SHFE aluminium will test support at US$2030.34/t
<p>LME aluminium ended last week in a drop. The light metal contract traded globally registered a drop of 1.25 per cent from its previous close to end at US$1,930 per tonne on Friday, April 28. Yesterday being the Early May Bank Holiday at the London Metal Exchange, trading will resume today....
Even a weak dollar index fails to support LME aluminium prices up
<p>LME aluminium registered a sharp drop on Friday, April 28, defying a section of analysts’ outlook that indicated at a buoyant ending for the light metal last week. The contract closed at US$1,930 per tonne after Friday night trading, down 1.25 per cent from the previous day’s close...
World Bank hikes base metals price forecast; LME aluminium nears weekend on highs
<p>The World Bank has hiked its yearly forecast for base metals prices. It expects the base metals prices to log a 16 per cent annual growth rate, compared to the 11 per cent expected in January this year. Strong demand for the metals in China alongside higher disruption rate at mines in Chile,...
LME aluminium to edge higher while range-bound trading expected in SHFE aluminium
<p>LME aluminium prices climbed higher drawing support from a vulnerable US dollar index that has been on a decline since the beginning of this week. The light metal contract rose by 0.74 per cent from Tuesday’s close of US$1,943 per tonne to end at US$1,957.50 per tonne on Wednesday, April...
LME aluminium to move at highs; supply-side concerns will support SHFE aluminium
<p>LME aluminium prices find support at US$1,931 and rises to US$1,943 per tonne after night trading on Tuesday, April 26. The 0.77 per cent rise from the previous close of US$1,928 per tonne on Monday, April 24, can be explained by the fact that the US dollar index is hovering near its five-month...
LME aluminium may find support at US$1931; SHFE aluminium moves in a tight range
<p>LME aluminium prices are fluctuating in a very narrow range. The light metal contract which closed at US$1,932.50 per tonne on Friday, April 21, dropped 0.23 per cent to end at US$1,928 per tonne on the first trading day of the week. Reuters' analysis has it that LME aluminium may break a...
HKEX and LME announce new LME Chief Executive and leadership structure
<p>Hong Kong Exchanges and Clearing Limited (HKEX) and the London Metal Exchange (LME), a wholly-owned subsidiary of HKEX, are pleased to announce the appointment of Matthew Chamberlain as Chief Executive of the LME effective immediately subject to the approval of the Financial Conduct Authority...
LME aluminium poised to regain strength and 'possibly' outshine SHFE aluminium
<p>LME aluminium prices remained fairly unchanged over the weekend. The lightmetal contract closed the week at US$1,932.50 per tonne on Friday, April 21, marginally down by 0.02 per cent from its previous close of US$1,933 per tonne. The US dollar index, which fell on Friday supporting LME...
LME aluminium rebounds to stay up, Shanghai aluminium follows suit
<p>LME aluminium finally staged a strong reversal on Thursday's night trading and closed at US$1,933 per tonne, rising 1.95 per cent from its previous close of US$1,895.50 per tonne on Wednesday, April 19. As Reuters finds it, LME aluminium faces a resistance at US$1,955 per tonne and may retrace...
LME aluminium likely to retest support at US$1,894/t; Chalco cuts prices
<p>LME aluminium could not hold ground after closing at US$1,915.50 per tonne on Tuesday, April 18, the first trading day after the Easter Holidays. The light metal contract staged a technically rally during night trading on Wednesday, April 19, only to end at US$1,895.50 per tonne, down 1.04 per...
LME aluminium regains strength while SHFE aluminium shows ‘signs of stopping declines’
<p>The London Metal Exchange market opened yesterday after the Easter Holidays; LME aluminium that has been falling since April 5, finally regained some strength and closed at US$1,915.50 per tonne, up 1.34 per cent from its previous close of US$1,890 per tonne on April 13, Thursday. As Shanghai...
LME aluminium to fluctuate at lows, SHFE aluminium soars to 4-year high
<p>The London Metal Exchange market will remain closed on Monday, April 17, for the Easter Holidays. LME aluminium that ended the week last Friday, April 14, on a volatile note is expected to keep diverging this week.</p> <p>As on April 13, LME official cash buyer price of aluminium stands at...
LME aluminium dives as US dollar index edges up, Shanghai aluminium inches higher
<p>LME aluminium comes down below US$1,900 per tonne as the US dollar index representing greenback's strength against a basket of six major currencies edges higher. The lightmetal contract closed at US$1,890 per tonne on Thursday, April 13, down 0.89 per cent from its previous close of US$1,907 per...
Further downside in LME aluminium is likely, Shanghai aluminium inches up
<p>LME aluminium is swinging in a tight range. The lightmetal which has been showing sideways movement of late closed unchanged at US$1,907 per tonne on Wednesday, April 12. Reuters' analysis says LME aluminium may edge up to US$1,930 per tonne, as it has pierced a resistance at $1,914. However,...
