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...
Grow with
AL Circle
LME aluminium declines further, SHFE aluminium feels the pressure
<p>The slide in LME aluminium price continues. The lightmetal which closed at US$1,929 per tonne on Monday, April 10, dipped by 1.11 per cent to close at US$1,907.50 per tonne after night trading on Tuesday, April 11. The price fall is in line with Reuters' analysis which said that LME aluminium...
LME aluminium flattens at US$1,929/t, while SHFE aluminium inches higher
<p>LME aluminium price remained unchanged as it closed at US$1,929 per tonne after night trading on Monday, April 10. The light metal, despite indications of a potential reversal, is taking time to gather momentum. Shanghai Metal Market (SMM) says LME aluminium will regain its lost ground and move...
LME aluminium heads south as dollar index rises; reversal on the cards
<p>LME aluminium ended the last week in a drop falling 1.38 per cent from its previous close of US$1,956 per tonne on Thursday, April 6 to US$1,929.50 per tonne on Friday, April 7. The US dollar index which was hit slightly by Syria strike effect rose late Friday extending its weekly gains. The...
LME aluminium marginally down on risk-averse trading but soon to pick up
<p>LME aluminium price declined in tandem with other base metals during night trading on Thursday, April 6. The contract dropped 0.30 per cent from its earlier close of US$1,962 per tonne on Wednesday to stand at US$1,956 per tonne on Thursday. The decline in the light metal price reflects a...
LME aluminium edges up 1.2 %, trading resumes on a bullish note at SHFE
<p>After dropping down to US$1,938 per tonne on Tuesday, April 4, LME aluminium closed at US$1,962 per tonne on Wednesday, April 5, registering 1.2% rise from last closing price. As seen by SMM, LME aluminium will move at highs on Thursday and will fluctuate between USD 1,950-1,990 per tonne.</p>...
LME aluminium drops but may end bounce around US$1,970/t
<p>LME aluminium is moving downhill. The light metal which was rallying a week ago dropped 0.53 per cent from its previous close of US$1,948.50 per tonne on Monday, to US$1,938 per tonne on Tuesday, April 4. The decline, Reuters analyses, is not going to be a persisting one. The wave pattern and a...
LME aluminium up for a 'limited gain', price may retrace to US$1,913/t
<p>The uptrend in LME aluminium price seems to have lost its momentum recently. The contract though inched higher at US$1,948.50 per tonne on Monday, April 3, from its previous day's close of US$1,946.50 per tonne, is likely to break a support at US$1,948 per tonne and fall to the next support at...
LME aluminium drops, may test a support at US$1,948/t
<p>LME aluminium ended last week in a drop from its weekly high of US$1,981 per tonne on Thursday, March 30, to US$1,946 per tonne on Friday, March 31. The contract declined 0.46 per cent from Thursday's closing at US$1,955 per tonne. The price movement of the light metal on LME was in tandem with...
March 2017 finds LME aluminium hitting a two-year high since Dec 14
<p>The sustained rise in LME aluminium prices met with an end-of-the-week halt as the contract came down from its yearly high at US$1,981 per tonne on Thursday, March 30 to close at US$1,946 per tonne on Friday, March 31. The day marking the end of the FY2016-17 financial year for many companies...
LME aluminium headed further up; price consolidation on cards
<p>LME aluminium is rising and how. The light metal which touched the highest since mid of May 2015 at US$1,931 per tonne on Wednesday, March 29, climbed further up to close at US$1,955 per tonne (+1.24%) on Thursday, March 30. Shanghai Metals Market (SMM) predicts LME aluminium will trend higher...
LME aluminium touches US$1,931/t, the highest since May 2015; uptrend to continue
<p>The rising momentum in LME aluminium has taken the contract to US$1,931 per tonne on Wednesday, the highest since mid-May 2015. The spike of 0.66 per cent from its previous close is the highest LME aluminium has registered in last one week. The strong uptrend in the light metal is expected to...
LME aluminium inches up, finds ally in SHFE aluminium; price may fall in 3 months
<p>LME aluminium is back to where it was a week ago. At US$1,918 per tonne after Tuesday's night trading, the contract has inched higher from its previous close of US$1,916 per tonne on Monday but remains at the same level where it was seven days back. The news about the US President Donald Trump...
LME aluminium dips; SMM foresees further decline and range-bound trading
<p>LME aluminium dipped marginally after meeting resistance at US$1,940 per tonne. The contract moved below the 5-day moving average to close at US$1,916 per tonne on Monday, March 27. The previous closing was recorded at US$1,917 per tonne. Shanghai Metals Market (SMM) estimates LME aluminium will...
LME aluminium to test US$1,940/t; SHFE aluminium will see weak trading, says SMM
<p>LME aluminium maintained a fairly steady uptrend last week. The lightmetal which started the week at US$1,908 per tonne on Monday, March 20, ended at US$1,917.50 per tonne on Friday, March 24. The rise was moderate at 0.49 per cent over the past seven days. Shanghai Metals Market (SMM) says LME...
LME aluminium to see range-bound trading as the rising strength slows down
<p>LME aluminium leapt to US$1,913 per tonne on Thursday's night trading reversing its temporary dip at US$1,910 per tonne on Wednesday as positions and trading volumes improved. However, market watchers believe that the contract has somewhat shed its rising strength. According to Reuters'...
LME aluminium feels strain of falling crude oil prices; short-term uptrend to resume
<p>The continuous rise in LME aluminium prices came to a halt as the falling crude oil prices in Asia weighed on the lightmetal contract traded globally. Aluminium prices on the bourse dropped 0.41 per cent from its previous close of US$1,918 per tonne on Tuesday, March 21 to US$1,1910 per tonne on...
Falling inventories lift LME aluminium; China base metals to keep diverging, says SMM
<p>The rising momentum in LME aluminium is continuing. The light metal which crossed the US$1,900 per tonne mark on Friday last week again rose on Tuesday's night trading to close at US$1,918 per tonne, up 0.52 per cent from its previous day's close of US$1,908 per tonne. Reuters observes LME...
LME aluminium gains but a drop is in the forecast; SHFE issues amendment to futures contracts
<p>LME aluminium has cleared a support at US$1,916. The contract inched higher during Monday's night trading hours closing at US$1,908 per tonne, up 0.36 per cent from the previous close of US$1,901 per tonne. Reuters observes LME aluminium is now up for a fall to US$1,891 per tonne- the next...
