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 nose-dives to a 2-week low; MCX aluminium rises 0.13% on spot demand
<p>Aluminium prices slipped to two-week lows on Monday weighed on by worries about Chinese producers restarting operations and adding to the metal glut being created by remelting of semi-finished products.<br /><br />Benchmark aluminium on the London Metal Exchange was down 1.4 per cent at $1,652 a...
LME aluminium to be weighed on by a strong US dollar
<p>Aluminium on London Metal Exchange will drop to USD 1,660-1,680/mt weighed on by strong US dollar and crude oil volatility. SHFE 1611 aluminium will struggle around the 5-day moving average and move at RMB 12,650-12,850/mt, predicted SMM. <br /><br />Discounts in the range of RMB 160-120/mt are...
LME aluminium to hold firm
<p>LME aluminium will move at highs of USD 1,670-1,685/mt on Monday.<br /><br />Many cities in China introduced new measures to curb property market. China’s State Council said local governments are not allowed to approve new capacity. Only a small amount of aluminium ingot arrived in major...
Aluminium to remain range-bound in the short term: ICRA
<p>Indian ratings agency ICRA said today it maintains not too ambitious outlook for aluminium, at least, in the short term as prices are expected to reflect a range-bound movement hovering around their current levels.</p> <p>Aluminium has been witnessing record low levels in the second half of the...
China aluminium stock drops drastically; LME aluminium to find support at $1,630-1,700/tonne
<p>In a positive note, aluminium stocks at the five major markets in China namely Shanghai, Wuxi, Nanhai, Hangzhou and Gongyi fell drastically this past one week, an SMM report says. <br /><br />The table below shows the drop in stocks in the mentioned markets.<br /><br /><img...
LME aluminium to find rising strength
<p>LME aluminium will rise to USD 1,655-1,675/mt as the OPEC reached an agreement over oil output cuts.<br /><br />SHFE 1611 aluminium will fluctuate at RMB 12,450-12,600/mt. <br /><br />In east China’s spot aluminium market, spot premiums of RMB 440-480/mt are expected over SHFE 1610...
LME aluminium shows resilience in September
<p>The London Metal Exchange cash and three-month aluminium contracts are showing sign of improvement in the month of September. LME 3M contracts closed at $1,664 per metric ton on September 27 while LME cash contracts closed at $1,648 per metric ton. The graph shows significant gains in the month...
LME aluminum to rise further
<p>A weaker US dollar from the US Fed’s decision not to raise interest rate will continue benefit LME aluminum, which will rise to USD 1,625-1,650/mt.<br /><br /><br /><br />SHFE 1611 aluminum will search for direction and move between RMB 12,350-12,500/mt.<br /><br />In east China’s...
Aluminium nose-dives to three-month low, India base metal prices drop in tandem
<p>Aluminium traded on London Metal Exchange (LME) dropped significantly to touch the lowest in past three months on Monday along with other base metals in the pack as investors turned speculative about a possible U.S. Fed rate hike this month and started shedding risky assets. <br /><br />"The...
LME aluminium drops, Chalco cuts aluminium prices in major markets: SMM
<p>According to SMM report, LME aluminium dropped below the 5-day moving average and will trade in a close range of USD 1,565-1,585/mt on Sept 12 as an aftermath of OPEC’s monthly oil report. SMM also indicates that SHFE 1611 aluminium should move between RMB 11,960-12,060/mt. In east...
LME aluminium to swing widely
<p>LME aluminium will move in a wide range of USD 1,580-1,610/mt on Thursday. <br /><br />SHFE 1611 aluminium should move between RMB 11,890-12,050/mt.<br /><br />In east China’s spot aluminium market, spot premiums of RMB 100-140/mt are expected over SHFE 1609 aluminium contract.<br /><br...
LME aluminium to find relief from weaker dollar
<p>The US dollar index fell on negative US economic data. This will help underpin LME aluminium at USD 1,585-1,600/mt. Base metal prices on the SHFE are expected to continue diverging on Wednesday, Shanghai Metals Market foresees. <br /><br />“The dollar weakened overnight, but base metals...
LME aluminium to remain under downward pressure
<p>LME aluminium will fall further to USD 1,565-1,590/mt. <br /><br />SHFE 1611 aluminium should move at RMB 11,800-12,000/mt, with short selling pressure eased. <br /><br />In east China’s spot aluminium market, spot premiums of RMB 110-150/mt are expected over SHFE 1609 aluminium...
LME aluminium headed for further declines, but SHFE aluminium to remain buoyed
<p>Aluminium contracts traded on London Metal Exchange (LME) will continue its decline this week, whereas SHFE aluminium will likely swing widely, predicted analysts at Shanghai Metals Market (SMM).<br /><br />According to SMM, LME aluminium should be down somewhere in the range of US$1,580-1,650...
LME aluminium to swing widely
<p>LME aluminium will move in a wide range of USD 1,605-1,625/mt on Thursday.<br /><br />SHFE 1610 aluminium will move at RMB 12,150-12,300/mt,.<br /><br />In east China’s spot aluminium market, spot premiums of RMB 130-170/mt are expected over SHFE 1609 aluminium contract.<br /><br...
LME aluminium to head for declines
<p>The US dollar index will find support from US economic data and speeches by US Fed officials. Crude oil prices will face pressure from oversupply. LME aluminium will fall to USD 1,620-1,640/mt. <br /><br />SHFE 1610 aluminium will move at RMB 12,240-12,400/mt, with short selling pressure. <br...
LME aluminium to see range-bound trading next week, SMM says
<p>LME aluminium will trade in a narrower range next week, while SHFE 1610 aluminium will consolidate at highs, SMM predicts.<br /><br />SMM sees LME aluminium between $ 1,620-1,680 per tonne. Low aluminium stocks in China and expectations for improving aluminium consumption in September will allow...
Trending Aluminium Industry Events to be attended in September 2016 - Part I
<p>The first half of the year 2016 is over and the second half of the year is marching ahead with some positive changes in the LME price and global aluminium demand supply scenario. Prices of LME aluminium gained about 10 per cent in the first half of the year. Compared to LME, Shanghai...
