LME aluminium price eases 0.3% on September 10; stocks remain stable at 244,525/t
The London Metal Exchange (LME) aluminium price graph contracted on September 10 across cash and contracts, with longer-dated contracts reporting nearly 1 per cent decline. The aluminium opening stocks, however, remained stable. The LME aluminium cash bid price shifted from USD 3,351.5 per tonne on...
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...
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LME Aluminium likely to rally towards $2100/tonne: Nbang
LME Aluminium prices have been continuously trading in a falling wedge since last one and half years, and recently it witnessed a falling wedge breakout which indicates the short to medium term outlook for the metal remains positive. We can see a minimum three upper resistance and three lower...
LME aluminium may gain more to $1,844
LME aluminium may break a resistance at $1,831 per tonne and rise further towards $1,844, as the rebound from the May 21 low of $1,754.75 may extend. This rebound has been driven by a wave c, the third wave of a three-wave cycle that developed from the May 9 low of $1,755.25. A Fibonacci projection...
LME aluminium to fall to $1,797
LME aluminium could have completed a rebound from the May 21 low of $1,754.75 per tonne, and may drop to $1,797. The rebound has been driven by a wave c, the third of a three-wave cycle that developed from the May 9 low of $1,755.25. All the five component waves of wave c have unfolded. A Fibonacci...
Aluminium futures weaken on global cues
Aluminium prices fell by 0.23 per cent to INR 109.55 per kg in futures trading today as speculators reduced their positions amid weak global cues. Further, subdued demand in the domestic spot markets also weighed on the metal prices. At the Multi Commodity Exchange, aluminium for delivery in May...
Frost & Sullivan perspective on global aluminium prices
Over the last 5-6 years, aluminium LME prices have crashed from levels of US $3,000 per metric tons (MT) to the current rate of around $1,700-1,750 per MT. Due to this, the smelters were hard hit as the cost of production increased on one hand, and LME prices was declining on the other. As a...
LME Aluminium may witness below $1800, buying recommended
We had the local trading only for half session yesterday however; the metal in the domestic exchange traded higher and settled the day at Rs. 105.65 up by 1.40% taking cues from LME which ended higher by 1.57%. One of the major reasons for the metal to rise in the global market is declining...
LME aluminium to rebound to $1,787
LME aluminium may rebound to $1,787 per tonne as it has found a support at $1,760. The support is provided by the 61.8 percent Fibonacci retracement on the rise from the Feb. 3 low of $1,671.25 to the April 11 high of $1,902.50. It has triggered a rebound towards the 50 percent retracement at...
UC RUSAL announces results for the three months ended 31 march 2014
UC Rusal, a leading, global aluminium producer, announces its results for the three months ended 31 March 2014. Key highlights • In the first quarter of 2014 LME aluminium price continued its fall and reached the lowest record since the second quarter of 2009 of USD1,708 per tonne demonstrating a...
Glencore, Goldman warehouses have longest aluminium queues-LME report
Wait times to get metal out of warehouse firms owned by trade house Glencore and bank Goldman Sachs stretch up to two years, according the London Metal Exchange's (LME) first report detailing backlogs at its global network of depots. Lengthy logjams at warehouses monitored by the LME, the world's...
Aluminium may show slight gain in the prices short covering
3 month forward LME Aluminum prices ended the day at $1766.50 mostly unchanged from its previous close. We saw slight intraday volatility in the prices while by end of the day market remained steady. We had no news from the fundamental front, Aluminum stocks at LME declined in a single day by 9700...
Aluminium up 0.4% on firming overseas trend
Aluminium prices today rose by 0.38% to INR 104.85 per kg in futures trade as speculators enlarged positions amid a firming trend overseas. Besides, increased demand at domestic spot markets also influenced prices. At the Multi Commodity Exchange, aluminium for delivery in May rose by 40 paise, or...
Aluminum may witness trading steady near $1775
We saw a good amount of nearly 0.75% decline in the Aluminum prices on Wednesday to settle the three month contract at $1769/MT. Likewise, at the domestic market, May future ended lower at INR 104.40/kg. Also, daily inventory declined at LME but the reaction on the prices were negligible. We saw a...
LME aluminium to consolidate in $1,760-$1,780 range
LME aluminium is expected to consolidate in a range of $1,760-$1,780 per tonne, as indicated by two sets of Fibonacci retracement analyses. One set is on the rise from the March 19 low of $1,704.25 to the April 11 high of $1,902.50, revealing a resistance at $1,780, the 61.8 percent level. The...
Alba Reports Q1 2014 Results: Strong operational performance despite low LME price
Aluminium Bahrain B.S.C (Alba) presents its financial results as per the International Financial Reporting Standards (IFRS) accounting rules. All investors and reporters are asked to read Alba’s Q1 2014 Unaudited Financial Statements posted at Alba website. Alba’s results for Q1 2014 are summarised...
U.S. aluminum futures debut amid legal wrangling on London rules
Aluminum futures trading started on Monday on the CME Group Inc. in Chicago, a move supported by companies such as MillerCoors LLC that complained of price distortions cause by delivery delays at warehouses run by the London Metal Exchange. The new futures contract will offer a “North American...
Aluminium up 0.2% on firming overseas trend
Aluminium prices today rose by 0.28% to INR 106.50 per kg in futures trade as speculators enlarged positions amid a firming trend overseas. Besides, increased demand at domestic spot markets also influenced prices. At the Multi Commodity Exchange, aluminium for delivery in May rose by 30 paise, or...
LME aluminium to rebound to $1,803
LME aluminium may rebound to $1,803 per tonne as it has managed to stabilise around a support at $1,780. The support has been identified as the 61.8 percent Fibonacci retracement on the rise from the March 19 low of $1,704.25 to the April 11 high of $1,902.50. Working together with this support is...
Aluminium prices fall on China PMI
Prices of aluminium fell to a month low on May 1st; following the disappointing data on the factory activity in China’s top consumer after central bank of U.S withdrew their monetary stimulus. Prices fell after the data showed that there was a marginal increase in the activity of China’s factories...
