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 close with gains but a strong dollar to keep the lid on prices
<p>The possible infrastructure development plan from the newly elected U.S. President Donald Trump seems to have finally livened up the commodities market a bit. The base metal prices which were heading downward reversed their trends and responded favourably before the week ended on November 18,...
LME aluminium gives in to the downward pressure, Chalco hikes prices in major markets
<p>As if Trump's win in the U.S. Presidential elections and speculations over possible Fed rates hike were not enough to weigh on the LME aluminium prices that Fed Chairwoman Janet Yellen joined in to deliver a speech in a 'hawkish' tone on Thursday. Result - the US dollar index which was already...
LME and China aluminium keep downward momentum as dollar hits a one-year high
<p>LME aluminium's downward journey along the price graph enters its second day since it marked a reversal on November 15, Tuesday. The contract closed at US$1,719/mt on the exchange on Wednesday after being traded at US$1,727 the previous day. The current LME official cash buyer price of aluminium...
LME aluminium down 2.1% as US dollar strengthens, SHFE volatility to continue
<p>LME aluminium has again set out for a journey downslope the price graph. With the US dollar index strengthening, market sentiment got depressed, and LME official cash buyer price of aluminium slid from US$1,765/mt on Monday to US$1,725/mt on Wednesday, November 16. After Tuesday's night trading,...
LME aluminium dips as the US dollar surges overnight
<p>LME aluminium prices dipped 0.67 per cent to trade at US$1,765/mt on Monday, November 14, weighed on by a strong US dollar index which broke through 100 with high expectation of the US interest rate hike in December’s Fed meeting. LME Official Cash Buyer price for the metal stands at US$...
LME aluminium to remain range-bound while SHFE aluminium set for volatility this week
<p>LME aluminium is all set to enter another volatile phase this week. The contract, after having recovered from the initial aftershocks of the US Presidential election last week, was traded at US$1,777/mt on Friday, November 11. The market was primarily dominated by capital. Shanghai Metals...
LME aluminium consolidates after a marginal dip; SHFE raises trading margin
<p>As market recovered from the knee-jerk reaction of the US presidential elections, LME aluminium prices showed some relaxation and came down marginally to trade at US$1,736/mt on Thursday, November 10. But, analysts believe the dip in the lightmetal prices is not going to continue, and they will...
LME aluminium stages a reversal at US$1,737.50/mt, declining dollar index to support the trend
<p>LME aluminium prices have staged a reversal and how. With Donald Trump winning the US Presidential elections yesterday, the market saw an uptick in trading and light metal used in cans to aircrafts soared significantly to close at US$ 1,737.50/mt. <br /><br />The trend is expected to continue in...
'Cautiously optimistic' trading expected in aluminium; Chalco hikes prices sharply
<p>LME aluminium prices are tracing a downward slope again. Unlike other base metals which are trending up almost in unison, the lightmetal traded on LME closed at US$1,706/mt after night trading on Tuesday, November 8. The contract was traded at US$1,716/mt a day earlier on the Exchange. <br /><br...
Supply shortage in China keeps driving aluminium prices up globally
<p>LME aluminium prices continue to rise, though at a moderate rate, as active investors watch perplexed as to what is driving the rise because, there are many macroeconomic factors, especially US presidential elections, which are actually expected to keep the market subdued. However, supply...
Aluminium prices to rise further buoyed by Chinese stockpile and supply shortage
<p>LME aluminium prices are on the rise. After having taken a U-turn from last week’s temporary dip, the light metal is now again on an upward trajectory buoyed by growing stockpile in the Chinese market and concern hovering over an available supply shortage. After Friday’s night...
LME aluminium dips weighed on by profit-taking trading
<p>LME aluminium dipped during morning trading on Wednesday, November 2 as profit-taking weighed on the prices marking a hiatus after the recent rally. The US dollar index kept easing on Wednesday as uncertainty persisted over the US presidential elections next week. The investors are feeling...
LME warehouse reforms distort aluminium's fundamental picture
<p>Reforms to the London Metal Exchange's global warehouse network have, as planned, cut the amount of metal trapped in storage, but the unintended consequence is a distorted fundamental picture and more pressure on already tumbling volumes.<br /><br />Since 2013, the LME has implemented measures...
LME aluminium drops after a seven-day rise, range-bound trading expected with mixed factors
<p>The entire base metal market including aluminium is on a bullish mode. LME three month aluminium prices are finally jumping on the bandwagon hitting a 15-month high as energy prices rise and demand boosts up.</p> <p>On Tuesday’s night trading, the contract traded on LME dropped marginally...
LME aluminium to keep rising momentum after touching new highs last week
<p>Aluminium traded on London Metal Exchange is showing extreme volatility. The contract after rising for six days in a row surged to peaks not seen since July last year during Friday’s trading. LME aluminium was 0.4 per cent higher at $1,705.50 a tonne, having peaked at $1,709.50. It finally...
LME aluminium rises on inventory decline in China’s key consuming regions
<p>Aluminium traded on London Metal Exchange rose on Thursday's night trading to close at US$1,681.50/mt. Analysts at the Shanghai Metals Exchange attributed the rise to the inventory decline in China's major consuming regions. The contract traded on Shanghai Metals Exchange opened at US$2,195 on...
LME aluminium to edge higher while SHFE aluminium to show range-bound trading
<p>Aluminium traded on London Metal Exchange edged higher from US$1,651 on Tuesday to close at US$1,673 on Wednesday. The metal after falling to a 2-month low at US$1,612.50 on Thursday last week has improved on positive cues and is on an upward trajectory. According to Shanghai Metals Market...
LME aluminium improves though marginally on positive manufacturing PMI
<p>Aluminium traded on London Metal Exchange is expected to move between US$1,625-1,650/mt on Tuesday with positive technical indicators. SHFE 1612 aluminum should range between RMB 12,780-13,050/mt, said analysts at Shanghai Metals Market in an early morning forecast.<br /><br />LME aluminium...
