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 expected to gain strength on Friday; SHFE aluminium to look for price directions
<p>The U.S. dollar index failed to gain any significant ground after its continuous fall. The LME aluminium contract dipped by 0.27 per cent to close at US$1,813 per tonne after Thursday's night trading. As seen by Shanghai Metals Market, LME aluminium price will test the 10-day moving average on...
LME aluminium dips marginally after dollar recovers little ground on Feb 1
<p>The U.S. dollar index failed to make a reversal after the much uninspiring Federal Reserve's latest policy meeting. After hitting its worst in 30 years, the currency could recover only a little ground on Wednesday, and that got reflected in LME aluminium price trend. The contract dipped...
LME aluminium rises as dollar slumps after Trump’s advisor calls euro “grossly undervalued”
<p>The U.S. dollar fell against the euro and other major global currencies on Tuesday, January 31, extending its year-to-date decline after Peter Navarro, the newly elected head economic policy advisor to President Donald Trump called Europe’s currency "grossly undervalued." The dollar...
Wall Street slide sends ripples across markets; LME aluminium drops further
<p>Donald Trump's isolationism seems to have hurt optimism over pro-business initiatives in the US rather badly. The S&P/ASX200 headed lower at the opening, adding to Monday's falls. The benchmark index was down 0.54 per cent to 5,632.30 at 1038 AEST (1038 GMT, on Monday), reported Bloomberg....
Strong dollar weighs on LME aluminium; range-bound trading expected in the short term
<p>LME aluminium after scaling a nine-month high on Tuesday, last week, January 24, has been easing out due to a light trading sentiment. The contract has fallen by 2.29 per cent from the mid-week high of US$1,870 per tonne. On Friday, January 27, LME aluminium closed at US$1,827 per tonne after...
LME aluminium softens as trading sentiment turns light prior to Chinese New Year holiday
<p>LME aluminium has eased out after rising to record highs on Tuesday, January 24. The contract closed at US$1,838 per tonne, down 0.59 per cent from the previous day's closing of US$1,849 per tonne. As per Shanghai Metals Market's earlier prediction, the contract is likely to hover in the range...
LME aluminium stumbles after hitting nine-month highs on Jan 24
<p>LME aluminium fell after Wednesday's night trading to US$1,849 per tonne, down 1.12 per cent from the previous day's price of US$1,870 per tonne. Analysts opine a faltering crude oil is responsible for the marginal decline in the metal price. According to Shanghai Metals Market forecast, the...
LME aluminium remains flat while SME aluminium gains strength from a weak dollar
<p>LME aluminium price remained unchanged yet firm at US$1,870 per tonne on Tuesday on speculations that aluminium producers in major China markets would cut output to cope with increasing air pollution. Shanghai Metals Market went on to explain that rising production cost, tax burden, entry of...
Uptrend in LME aluminium gains momentum; weak dollar to support Shanghai prices
<p>LME aluminium is continuing its rise. The contract having risen 1.68 per cent from the previous day's closing of US$1,839 per tonne, ended at US$1,870 per tonne after Monday's night trading. Shanghai Metals Market forecast says LME aluminium may meet some resistance and hover at US$1,830-1,840...
LME aluminium logs higher, Shanghai aluminium prices likely to continue diverging
<p>LME aluminium kept logging higher till the end of last week as dollar index was at its low. The contract closed at US$1,839 per tonne after Friday's night trading, edging higher by 0.32 per cent from the previous day. Shanghai Metals Market forecast says LME aluminium will keep firm and scale at...
LME aluminium surges as U.S. dollar index sinks to a month's low on Thursday
<p>It's a near trade-war situation, when the President-elect of the world's most powerful economy tells his people that the currency value of the country is way "too strong" to compete with the Asian power called China. Just one more day to go, and then Donald Trump takes charge of the White House...
LME aluminium hits record high on Wednesday's night trading; Shanghai aluminium to follow suit
<p>LME aluminium touched record highs since the beginning of 2016 during Wednesday's night trading only to come down a little (-2.7 per cent from the previous closing at US$1,805 per tonne) and close at US$1,800 per tonne. According to Shanghai Metals Market forecast, the contract will move within...
LME aluminium drops to see range-bound trading; Shanghai prices continue diverging
<p>LME aluminium price rise met resistance on Tuesday as the contract slid marginally by 0.38 per cent to close at US$1,805 per tonne after night trading yesterday. Prior to this LME aluminium has been rising for 6 days at a stretch. The marginal drop which is indicative of a short-term range-bound...
A fluctuating, weak dollar to support LME aluminium prices at highs on Monday
<p>LME aluminium has been increasing steadily over the last few days. On Friday, after night trading, the contract closed at US$1,790.5 per tonne, inching higher by 0.13 per cent from the previous closing of US$1,788 per tonne on Thursday. Shanghai Metals Market predicts LME aluminium will keep...
LME aluminium hit the highest on Thursday’s night trading; to reach new market high on Friday
<p>Base metal prices including aluminium are expected to be buoyed up by falling dollar on Friday, Shanghai Metals Market predicts. LME aluminium price is constantly trending higher to close at US$1,788 per tonne on January 12 and it is expected to hover within a range of US$ 1,780-1,805 per ton on...
LME aluminium edges higher as dollar weakens after a not-so-effective Trump conference
<p>LME aluminium is trending higher. The contract having risen for six days at a stretch is slated for a further rise as U.S. Dollar turned lower after Trump conference failed to throw light on the details of fiscal policies. Shanghai Metals Market says LME aluminium will move at US$1,750-1,770 per...
LME and Shanghai aluminium prices to climb higher as dollar strengthens overnight
<p>Fluctuations in LME aluminium are in full swing. The contract kept rising through Tuesday's night trading and ended higher at US$1,757 per tonne, up 2.32 per cent from the previous day's closing at US$1,717 per tonne. Shanghai Metals Market says LME aluminium will likely meet resistance at...
Outlook 2017: How will primary aluminium fare in the New Year; who would be the prime players
<p>2016 has been a positive year for primary aluminium after a long period of volatility. LME aluminium prices recovered 13.4% in 2016 ending the year with a rate of USD 1714 per ton. The market sentiment on aluminium has improved considerably since the beginning of 2016, when prices hovered at a...
