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...
Grow with
AL Circle
LME Aluminum Prices Plummet, Monthly Index at All-Time Low
Our aluminum price index registered a value of 89 in February, a decrease of 3.3 percent from 92 in January. The 3-month LME price closed on Tuesday at $1,686 per metric ton, the lowest level seen in the past 4+ years. Aluminum keeps struggling to reach previous peaks, but it doesn’t seem to have...
LME Aluminum rebounds from 4.5-year Low
Base metal futures rose on the London Metal Exchange Tuesday, with aluminum carving out significant gains as traders stepped in to buy the metal at reduced prices. The LME's three-month aluminum contract was up 1.1% at $1,695 a metric ton in morning European trade after hitting a...
Aluminium prices fall by 0.9% on global cues
Aluminium prices fell by 0.97% to INR 106.65 per kg in futures trading today after speculators trimmed their exposures amid a weak global trend. At the Multi Commodity Exchange, aluminium for delivery in January declined by Rs 1.05, or 0.97% to INR 106.65 per kg in business turnover of 505 lots....
Aluminium hits the lowest prices on LME
Aluminium touched its weakest levels in more than four years on Wednesday on persistent worries of overproduction while copper dropped for a sixth session ahead of the week-long Lunar New Year holiday in Asia. Three-month aluminium on the London Metal Exchange touched a low of $1,735.25 a tonne,...
Aluminum continues to take positive cues
Aluminum ended the yesterday's trading session marginally lower by 0.06% at the LME platform as the commodity continues to take positive cues from the short term supply tightness. Aluminum stocks declined by 39,875 MT and the cancelled warrants for the commodity increased from 2345275 MT to 2502800...
LME aluminium to stay above $1,762
LME aluminium may continue to hover above a support at $1,762 per tonne, with a good chance of rebounding to $1,779, as it seems to have completed a short downtrend from the Jan. 17 high of $1,825.25. The trend failed to extend further after approaching a trendline that rose from the Dec. 2, 2013...
Aluminum down in LME despite falling inventory
Aluminum prices had plunged by 0.8% at LME platform and settled at $1783/MT as a result of a stronger dollar. The dollar strengthened due to the increasing Global growth forecast by IMF from 3.6% to 3.7% and it weighed negatively on aluminum. Though the inventory picture of aluminum depicts...
LME aluminium to revisit high of $1,825.25
LME aluminium is expected to revisit its Jan. 17 high of $1,825.25 per tonne, as it has completed a correction from this level. The correction could be considered as a pullback towards the neckline of an inverted head-and-shoulders that formed between Jan. 6 and Jan. 15. The quick recovery of the...
LME aluminium may retrace to $1,795
LME aluminium may retrace a little bit more to $1,795 per tonne, as it has slid below a support at $1,805. The support has been established by the 61.8 percent Fibonacci retracement on the fall from the Dec. 30, 2013 high of $1,839 to the Jan. 9 low of $1,751. The next support will be at $1,795,...
LME aluminium is expected to gain more to $1,839 per tonne
LME aluminium is expected to gain further to $1,839 per tonne, as it has broken above resistance at $1,818. The resistance was established by the 76.4 percent Fibonacci retracement on the fall from the Dec. 30, 2013 high of $1,839 to the Jan. 9 low of $1,751, there will be no other resistance until...
LME aluminium signals mixed
Signals are mixed for LME aluminium, as it is not clear if the rebound from the Jan. 9 low of $1,751 will extend. The extension will be confirmed when aluminium climbs above a resistance at $1,785, the 38.2 percent Fibonacci retracement on the fall from the Dec. 30, 2013 high of $1,839 $1,751. Both...
New contract to hedge high aluminium premium
Aluminium traders and the London Metal Exchange are in advanced discussions over a new contract that will allow consumers to protect themselves against the cost of the surging premiums for the metal. Demand for a hedging tool has mounted in recent weeks as the gap between the physical aluminium...
LME looking to launch U.S. aluminum premium contract
The London Metal Exchange is considering launching a U.S. aluminum premium contract, a senior executive said, potentially expanding its most-traded product after years of criticism over high physical prices. The contract, plans for which are still in the early stages, would reflect the cash premium...
Alcoa chief says no plans for legal action against LME
Alcoa Inc has no plans to follow Russian aluminum producer Rusal and launch legal action against the London Metal Exchange aimed at overturning reforms to its warehousing policy, Chairman and Chief Executive Klaus Kleinfeld said on Thursday. The U.S. aluminum producer and Rusal have staunchly...
LME aluminium signals mixed
Signals are mixed for LME aluminium, as it is not clear if the rebound from the Jan. 6 low of $1,756 has completed. The rebound failed to go above a resistance at $1,788, the 38.2 percent Fibonacci retracement on the fall from the Dec. 30 high of $1,839 to $1,756. The failure indicates a resumption...
LME aluminium to rise to $1,803
LME aluminium is expected to rise to $1,803 per tonne, as indicated by a falling channel and a Fibonacci projection analysis. The metal has risen into the falling channel, which has been duplicated from a lower channel. The upper channel line of the duplicated channel points a target at $1,803, the...
Analyst expects mixed trend on LME aluminum
Aluminum stocks tracked by the LME have increased by 116,750 MT as per the latest available quote at the LME warehouses. --Aluminum ended yesterday’s trading session marginally higher by 0.5% at the LME platform, recovering smartly from its intraday low to close at $1782/MT . --The aluminum...
LME aluminium may test resistance at $1,792
LME aluminium may test a resistance at $1,792 per tonne, as it has broken a resistance at $1,775. The resistance was provided by the 100 percent Fibonacci projection level of a wave c, which has bottomed at the Monday low of $1,756. This is the final wave of a three-wave cycle that developed from...
