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 crosses US$1,900/t mark as dollar stays weak; short-term rally expected
<p>LME aluminium crossed the US$1,900 per tonne mark for the second time this year as the US dollar stayed soft on Friday, March 17. The contract closed at US$1,901 per tonne after night trading, edging higher by 0.31 per cent from its previous close of US$1,895 per tonne on Thursday. As Reuters...
LME aluminium ends week-long bumpy ride on a high note
<p>LME aluminium had a bumpy ride this week. The lightmetal, finding applications in a wide range of industries- from smartphones to spacecraft, felt the ripple effect that was generated ahead of the Federal Reserve’s meeting on interest rate decisions. LME aluminium opened the week at...
RUSAL’s net profit jumps 111% in 2016; revenue drops due to lower LME prices
<p>UC RUSAL the leading global aluminium producer from Russia, announces its results for the full year ended 31 December 2016.</p> <p><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/rusal2.jpg" alt="News" width="517" height="226" /></p> <p>RUSAL’s revenue for...
LME aluminium edges up supported by a falling dollar index; range-bound trading expected
<p>LME aluminium prices have gained further as the US dollar index fell after the Federal Reserve announced on March 15 that it raised its benchmark interest rate. The contract closed at US$1,895 per tonne after Thursday's night trading, up 1.71 per cent from its previous day's close of US$1,863...
Aluminium scrap prices in India plateau while aluminium futures climb higher at MCX
<p>The prices of major aluminium scrap commodities in India remained largely unchanged on Wednesday, March 15, while aluminium futures edged higher at Multi Commodity Exchange (MCX). The rise in MCX aluminium was in tandem with the uptrend in aluminium prices at the London Metal Exchange (LME) on...
LME aluminium gets a boost from a weak US dollar as Fed hikes interest rates
<p>Aluminium prices on the London Metal Exchange (LME) got a boost from the falling US dollar after Federal Reserve announced interest rate hike at the conclusion of this month’s FOMC meeting on Wednesday, March 15. LME aluminium closed at US$1,863 per tonne after Wednesday's night trading,...
LME aluminium drops further, SHFE aluminium to test support at 60-day moving average
<p>After experiencing a bullish run since the beginning of 2017, LME aluminium dropped below the 40-day moving average for the first time, indicating bearish trends. After dropping down to USD 1,882 per tonne on Monday, March 13, LME aluminium closed at $ 1,851 per tonne on Tuesday, March 14...
LME aluminium drops after a short recovery, SHFE aluminium to follow downward trend
<p>After a quick rise to USD 1,885 per tonne on Friday March 10, LME aluminium closed slightly lower at $ 1,882 per tonne on Monday March 13. As seen by SMM, LME aluminium will test support at the 5-day moving average on Tuesday and will trade at USD 1,870-1,895/mt.</p> <p><img...
LME aluminium closes the week with a rise after a low run; crude oil continues to fall
<p>After a steady rise to hit US$1,934 per tonne on March 1, on the news of China’s alumina and aluminium capacity cut orders for 28 cities, aluminium started a downward trend as a standard technical correction and with decline in crude oil prices. LME aluminium rallied on last Friday March...
Week in review: LME aluminium back at US$1,845/t; Shanghai aluminium fluctuates in tight range
<p>This week aluminium prices came down from its earlier highs of US$1,990 per tonne to move in the range of US$1,865-1,845 per tonne. Aluminium contract traded on the London Metal Exchange (LME) opened the week at US$1,868 per tonne on Monday, March 6 and then came down to close at US$1,847 per...
LME aluminium drops after staging a short reversal, SHFE aluminium moves in a tight-range
<p>Aluminium contracts traded on the London Metal Exchange (LME) and major commodity exchanges of Shanghai kept diverging on Thursday. While LME aluminium dropped after rising at US$1,881 per tonne on Wednesday, Shanghai Metal Exchange (SME) benchmark price of aluminium edged higher at US$1,957 per...
LME aluminium retraces to US$1,881/t, range-bound trading expected; Shanghai aluminium drops
<p>The falling LME aluminium found support at US$1,857 per tonne and edged higher reversing its week-long downtrend. The contract closed at US$1,881 per tonne during Wednesday's night trading, rising 1.28 per cent from its previous day's close of US$1,858 per tonne. As Shanghai Metals Market (SMM)...
LME aluminium to edge higher at US$1,920, SHFE aluminium likely to hover at lows
<p>The downtrend in LME aluminium prices continued till Monday's trading hours until the contract found support at 40-day moving average of US$1,857 per tonne. The closing price on Tuesday, US$1,858 per tonne, was 0.53 per cent higher than the previous day's closing at US$1,868 per tonne. Reuters...
US dollar index recovers weighing down LME and SHFE aluminium
<p>The US dollar Index stabilized following Friday's decline last week. The DXY was modestly higher on Monday, holding near 101.59, an increase of 0.04 per cent from previous day's close. The upside in greenback caused base metals to slip further down the price curve across major bourses of the...
LME aluminium on a downhill slope as crude oil declines; China inventory grows above 1 MT
<p>Aluminium prices on London Metal Exchange continued its journey downward after crude oil displayed a mixed undertone for third day on the back of record inventory rise in the US. The contract closed at US$1,909 per tonne after Friday's night trading, down 1.03 per cent from the previous day's...
LME aluminium closes lower at US$1,929 on March 2; SHFE aluminium slips in tandem
<p>LME aluminium slipped as positions rose during Thursday's night trading. The contract declined marginally by 0.25 per cent from Wednesday's closing of US$1,934 per tonne to close at US$1,929 per tonne on Thursday, March 2. As Shanghai Meals Market (SMM) finds it, LME aluminium will test support...
LME aluminium stages a quick comeback as China proposes capacity cut in 28 cities
<p>After a fall to US$1,895 per tonne on Tuesday, February 28, aluminium has staged a quick comeback, on the news of China’s alumina and aluminium capacity cut orders for 28 cities. LME Aluminium closed 2.0% higher at $ 1,934 per ton on March 1 Wednesday, 35% higher than the trough seen in...
LME aluminium dips on Tuesday after hitting a month’s high; SHFE aluminium to stay firm
<p>The LME aluminium contract dipped by 0.68 per cent from its previous day's closing of US$1,908 per tonne to close at US$1,895 per tonne on Tuesday, February 28. LME aluminium has hit the highest level from mid May 2015 reaching the month’s highest on February 27 and market players...
