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, SHFE aluminium to fluctuate at lows; SMM aluminium production data shows 3.8% YoY rise
<p>LME aluminium is in a fluctuating mode. After having risen for four consecutive days, the contract has fallen marginally by 0.29% to close at US$1,717 per tonne after Monday's night trading. According to Shanghai Metals Market's analysis it will move at lows during Asian trading hours on...
LME aluminium moves higher, but will likely fluctuate with the dollar gaining strength this week
<p>LME Aluminium is likely to be affected by the oil futures that ended slightly higher on Friday, logging a consecutive fourth weekly gain on speculations that major producers would cut output as pledged. The contract ended at US$1,722 per tonne on Friday, marginally higher by 0.73 per cent than...
LME aluminium edges higher, but Shanghai aluminium to stay weak due to a strong dollar
<p>LME aluminium diverged from falling crude oil prices on Thursday ending marginally higher at US$1,709 from the previous day's closing. Unlike aluminium other base metals fell across the boards as one of the key indicators, crude oil price, lost its overnight surge. Crude oil futures rallied to...
LME aluminium drops while Shanghai aluminium moves higher on increased trading volume
<p>LME aluminium dropped marginally on Wednesday to close at US$1,701 per tonne after the day's night trading. The drop, though only 0.05 per cent from the previous day's closing of US$1,702 per tonne, indicates at further short-term fluctuations within the range of US$1,675-1,695 per tonne on...
LME and SHFE aluminium to fluctuate weakly over the short term, says SMM
<p>LME aluminium opened weakly on the first trading day of 2017 to close at US$1,702 per tonne after Tuesday's night trading. The price drop though marginal by 0.67 per cent from the previous closing of US$1,713.5 is expected to persist over the short term. Market will see a slight economic...
LME aluminium to fluctuate at US$1,680-1,700 per tonne, SMM forecasts
<p>As the London Metal Exchange market resumes business today, on January 3, the first trading day of 2017, aluminium traded on the board is expected to fluctuate between US$1,680-1,700 per tonne after the closing at US$1,685 per tonne last Friday. <br /><br />Looking at the key macroeconomic...
LME warehouses would slow rent hikes in FY 2017/18
<p>In a New Year press release by London Metal Exchange on December 31 confirmed that warehouse firms within LME’s network of more than 600 warehouses in 37 locations have announced lower rent rises for the Fiscal Year starting in April.</p> <p><img style="vertical-align: middle; display:...
LME aluminium remains flat on the last trading day of 2016, Shanghai aluminium to open tomorrow
<p>After the 2017 New Year holiday weekend, the London Metal Exchange market resumes trading tomorrow on Tuesday, January 3. LME aluminium remained flat on Friday as trading was muted due to the year-end liquidity crunch. The contract at the end of the year's last working day closed at US$1,713.50...
LME aluminium moves further down, light trading predicted for Shanghai metals
<p>The year-end liquidity crunch is getting reflected way too acutely on the LME aluminium prices, and this is evident from the falling prices of the metal on the bourse. LME aluminium closed at US$1,713 per tonne after Thursday's night trading, down 0.78 per cent from the previous day. Today...
LME and Shanghai aluminium prices to move lower due to tight year-end liquidity
<p>The London Metal Exchange market after remaining closed over the weekend till Tuesday, for Christmas, resumed trading yesterday on a low note. Aluminium traded on the bourse closed at US$1,726.5 per tonne after Wednesday's night trading, down 0.77 per cent from the previous closing of US$1,740...
LME market resumes trading at low, Shanghai aluminium shows signs of firming up
<p>LME market is resuming trading today and LME aluminium is expected to climb higher due to firm Shanghai Futures Exchange prices. But Shanghai Metals Market says any rise will be limited with resistance from the moving averages. LME aluminium prices are expected to hover in the range of...
LME market keeps closing for Christmas, Shanghai aluminium range-bound on weak trading
<p>London Metal Exchange market remains closed today for Christmas. So, LME official CASH Buyer price of aluminium, as on December 23, stands at US$1,739 per tonne, Cash Seller & Settlement price stands at US$1,740 per tonne, 3M Buyer price is US$1,718 per tonne, and 3M Seller price is...
LME market activity weakens, SHFE aluminium to consolidate narrowly
<p>Market activity has weakened over the Christmas weekend and will remain muted through the week. The UK and the US markets under London Metal Exchange will remain closed on Monday and Tuesday for the Christmas holidays. LME aluminium inched hiher by 0.14 per cent to close at US$1,740 per tonne on...
LME aluminium to fluctuate in a close range of USD 1,715-1,730/mt on Friday
<p>LME aluminium price improved to close at US$1,737.5 per tonne on December 22 and it is expected to hover within a range of USD 1,715-1,730/mt on Friday.<br /><br />As on December 22, LME official CASH Buyer price of aluminium is US$1737 per tonne, CASH Seller & Settlement price is...
LME and SHFE aluminium to strengthen with mixed factors
<p>The downward slide in LME aluminium came to a halt on Tuesday's night trading as the contract closed at US$1722 per tonne showing limited strength at 0.29 per cent higher closing price than the previous day. The market stabilized as aluminium met resistance from the moving averages. According to...
LME aluminium down amid weak trading, SHFE aluminium wanes as inventory keeps rising
<p>LME aluminium is back to where it was a fortnight back plummeting at US$1,717 per tonne on Monday, December 19. The contract slid with rising positions and tested the 60-day moving average. Shanghai Metals Market says, LME aluminium will move at the range of US$1,700-1,720 per tonne on Tuesday,...
LME and LME Clear announce 2017 fee schedules
<p>The London Metal Exchange (LME) and LME Clear today announced their 2017 fee schedules. Trading and clearing fees will remain unchanged, including the continuation of fee discounts for short-dated carries and position transfer caps as announced in August 2016. In addition, LME Clear will reduce...
LME aluminium to struggle at $1,700-1,750/tonne range; China aluminium to swing widely
<p>LME aluminium prices have been falling since last week Tuesday after trading at US$1,762 per tonne last Monday. The contract struggled within the range of $1,730-1,750 per tonne as the US dollar index rose higher. LME aluminium closed at US$1,732 per tonne on Friday, December 15. <br /><br />In...
