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 edges higher as crude oil becomes costlier
<p>LME aluminium closed higher at US$1,907 per tonne on Monday, February 27 breaking support at US$1,900 per tonne. The 1.67 per cent rise from its previous day's closing of US$1,877 per tonne marks the highest in last one week, when the metal traded in the range of US$1,860-1,880 per tonne. The...
LME aluminium rebounds on Chinese supply cuts but likely to face resistance at US$1,889
<p>LME aluminium prices hovered at lows last week weighed on by a strong dollar. On Friday, the lightmetal rebounded on renewed fears over the Chinese supply cuts but ended low at US$1,877 per tonne, down 29.2 per cent from the previous day's closing at US$1,882 per tonne. Reuters technical...
LME aluminium rises with support from crude oil but likely to lose the gain again
<p>LME aluminium staged a reversal after falling on Wednesday on news of the FOMC meeting that hinted at a possible Fed rate hike. The contract closed at US$1,882.50 per tonne after night trading on Thursday, February 23. The Federal Reserve has hinted at multiple short-term interest rate increases...
LME aluminium drops after FOMC meeting signals a possible rate hike
<p>LME aluminium dropped during Wednesday's night trading after remaining unchanged for two consecutive days. The contract closed at US$1,873 per tonne yesterday, down 0.26 per cent from the previous closing of US$1,878 per tonne on Tuesday. According to the Federal Open Market Committee (FOMC)...
LME aluminium plateaus but a strong dollar likely to weigh on base metals
<p>Aluminium prices on London Metal Exchange remained unchanged at US$1,878 per tonne on Tuesday, though the U.S. dollar strengthened signalling at a possible downward correction in the near term. Crude prices also fell on Wednesday as American crude supplies climbed 9.53 million barrels to reach...
LME aluminium rises but risk of near-term correction remains
<p>LME aluminium reversed its 2-day downtrend to rise 0.67 per cent from Friday's closing at US$1,865.5 per tonne to end at US$1878 per tonne after night trading on Monday, February 20. Shanghai Metals Market (SMM) forecasts the contract will rise further at US$1,890-1,916 per tonne on Tuesday,...
Aluminium prices come under pressure from a strong U.S. dollar
<p>LME aluminium gave up its gains and dropped for two consecutive days last week as the U.S. dollar firmed up. The contract which had risen to hit the 25-week highest at US$1,900 per tonne on February 14 came down 1.81 per cent to close at US$1,865.50 per tonne on Friday after night trading....
LME aluminium edges higher as dollar index hits the week's lowest; SHFE prices to diverge
<p>The US dollar index after rallying for almost a week now suffered its worst decline on Thursday, February 16, lifting LME aluminium price up by 0.37 per cent. The contract which stood at US$1,871 per tonne on Wednesday down from Tuesday's US$1,893 per tonne, closed higher at US$1,878 per tonne...
LME aluminium eases as dollar extends gains; Shanghai aluminium to stabilize, says SMM
<p>LME aluminium eased out after Wednesday's night trading shedding some earlier gains and closing at US$1,871 per tonne, down 1.16 per cent from the previous closing at US$1,893 per tonne on Tuesday. With the U.S. dollar index trading higher ahead of data, the dip was only but a natural outcome....
LME aluminium firms up but strengthening dollar remains a concern
<p>LME aluminium has edged higher. The contract rose by 1.36 per cent on Tuesday from the previous day's closing of US$1,867.50 per tonne, to close at US$1,893 per tonne after night trading. However, Shanghai Metals Market (SMM) in its analysis said, the growth in LME aluminium was restrained by...
LME aluminium to rise further; Price divergence forecasted for Shanghai metals
<p>LME aluminium is continuing its uptrend. Even as the US dollar firmed up following the successful summit meeting between Japan's Prime Minister Shinzo Abe and Donald Trump the lightmetal traded on LME has shown little signs of decline. The contract after opening lower on Monday, February 13,...
LME aluminium to gain further; Shanghai base metals to diverge due to a strong dollar
<p>The upward momentum in LME aluminium stands intact even in this week. The light metal was last traded at US$1,848 per tonne during Friday's night trading, up 0.54 per cent from the previous day's closing of US$1,839 per tonne. Shanghai Metals Market (SMM) in its forecast says LME aluminium will...
LME aluminium ends the week on a high note, but will the rise sustain?
<p>LME aluminium has been on an uptrend for better part of the week (February 6 - February 10, 2017) as dollar was weaker before Trump-Abe meeting. The U.S. currency hit 10-day high on Friday. While the market has to wait till start of trading hours on Monday next week, it is time we take a look...
LME aluminium uptrend intact; Shanghai aluminium to trade closely with the dollar
<p>LME aluminium advanced on Thursday closing at US$1,839 per tonne after night trading even though dollar firmed up against the Japanese yen. The rise registered was 0.98 per cent from the previous day's closing of US$1,821 per tonne. Shanghai Metals Market (SMM) forecast says the contract will...
LME aluminium in near-term uptrend as dollar weakens prior to Abe-Trump meeting
<p>LME aluminium recovered from its recent lows to climb higher on Wednesday, January 8. The contract closed at US$1,821 per tonne after yesterday's night trading, up 0.66 per cent from the previous day's closing of US$1,809 per tonne. Shanghai Metals Market forecast says LME aluminium will hover...
LME aluminium to see tight range-bound trading as the greenback recovers
<p>LME aluminium rose for a day on Monday only to give in to the downward pressure of a strengthening dollar on Wednesday, January 8. The contract ended at US$1,809 per tonne after Tuesday's night trading, down marginally by 0.16 per cent from the previous day's closing of US$1,812 per tonne....
LME aluminium rises amid dollar exchange rate worries; SHFE prices to keep diverging
<p>The dollar gave up its earlier gains against Japan's yen and the euro after key U.S. jobs data was released last Friday. President Trump's newly elected office is yet to publish the details of tax reduction and government expenditures. This, along with the market worries toward global trade and...
LME aluminium to gain strength as dollar turns lower, SMM predicts
<p>The U.S. dollar index has been gaining in strength over the past week. On Friday, February 3, it surrendered its gain but that could do little to buoy aluminium prices up. LME aluminium dropped further to close at US$1,808.50 per tonne after Friday's night trading, down 0.24 per cent from...
