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 Aluminum stockpiles fall marginally by 22,900 MT last week
The Aluminum inventories declined marginally by 22,900 MT in the last week. However, from a broader perspective, aluminum stockpiles have increased by 116,750 MT since the month of Nov ember as per the data av ailable from the LME warehouses. --Aluminum ended Friday's trading session lower by 1.6%...
LME aluminium to hover above $1,796
LME aluminium may hover above a support at $1,796 for one trading session or rebound moderately to $1,805 per tonne before falling towards $1,780. The support is provided by the 61.8 percent Fibonacci projection level of a downward wave c, the third wave of a three-wave cycle that developed from...
LME to implement warehouse reforms as average rent drops
The London Metal Exchange will push ahead with proposed reforms to its warehousing policy, it said on Monday, and warehouses announced lower average rent increases than last year in response to the LME’s calls for restraint. The LME, the world’s largest marketplace for metals such as copper and...
India aluminium futures may trade 110-113.6 range
Aluminium settled up at 111.35 rallied as signs of a strengthening US economic recovery prompted traders to buy industrial metals. Manufacturing in the U.S. continued to expand this month, a separate survey showed before data on Jan. 2. The nation ranked second globally after China among consumers...
Aluminium hits highest in nearly two months
Aluminium touched its highest level in nearly two months on Monday as consumer buying boosted the market in thin conditions. Three-month aluminium on the London Metal Exchange (LME) climbed to a session peak of $1,839 a tonne, the strongest since Nov. 4, before paring gains. It closed at $1,822, up...
Aluminum may decline to as low as $1,600 mt in the first half of 2014
Aluminum may extend declines to as low as $1,600 a metric ton in the first half of 2014 as new rules from the London Metal Exchange make more metal available, said analyst Helen Lau of UOB Kay Hian Ltd. Warehouses listed with the world’s largest metals bourse will have to release more of the...
Aluminium is lifted by a weak dollar & tightening supplies
Aluminium settled up 2.86% at 109.55 prices rose to their highest in more than four months on Friday, lifted by a weak dollar, tightening supplies and expectations that economic recovery in top consumer China will help boost demand for industrial metals next year. China's economic growth is likely...
LME aluminium targets $1,639-$1,657 range in three months
LME aluminium may drop into a range of $1,639-$1,657 per tonne in three months, driven by a downward wave (c). This is the third wave of a bigger wave C that developed from the March 2, 2012 high of $2,361.50. A Fibonacci projection analysis reveals that the wave (c) has travelled below a support...
LME will go ahead with warehousing policy changes
The London Metal Exchange (LME) said it will go ahead with planned changes to its warehousing policy aimed at addressing massive queues for metal despite top aluminium producer Rusal challenging the proposal. The LME proposed new rules to overhaul its delivery system from next April that would...
Rusal takes London Metal Exchange to court over warehouse rules
Rusal, the aluminium producer controlled by oligarch Oleg Deripaska, is taking the London Metal Exchange to court, claiming a crackdown on the metals warehousing industry is a breach of its “human rights”. The lossmaking Russian company confirmed that it had filed a judicial review in the UK,...
Aluminum antitrust lawsuits will be heard in New York - judges
Antitrust lawsuits alleging the world's largest metal exchange, two of Wall Street's biggest banks and big commodity merchants conspired to raise the price of aluminum will be heard in New York, a panel of U.S. judges has ruled. Judge Katherine Forrest will hear the case in U.S. District Court for...
Aluminium ease on lower demand, global cues
Select copper and aluminium prices eased in an otherwise lacklustre non-ferrous metal market here today on stockist selling amid lower demand from industrial users on the back of bearish London Metal Exchange (LME) cues. The industrial metal declined at the LME, dropping further from near two-month...
Aluminium ingots move up on renewed offtake
Aluminium ingots moved up in an otherwise mute non-ferrous metal market here today on stockist buying amid renewed offtake from consumer industries. The industrial metal edged up at the LME, from the highest in nearly two months hit the previous day, as traders cut risk ahead of a Federal Reserve...
Goldman Sachs aluminum antitrust suits shipped to New York
Lawsuits accusing Goldman Sachs Group Inc. (GS:US), JPMorgan Chase & Co. (JPM:US), their warehousing businesses and the London Metal Exchange of constricting aluminum supplies and driving up prices will be handled in a New York court. Twenty-six federal cases have been filed accusing the...
LME approves ICL for first warehouse in in Moerdijk, Netherlands
Independent Commodities Logistics BV (ICL) has received approval from the London Metal Exchange for the first warehouse in Moerdijk, Netherlands, the exchange informed its members on Friday December 13. The warehouse in Moerdijk run by ICL will be listed from March 13 next year and will be a good...
Trafigura says has no plans to sell warehousing unit
Commodity trader Trafigura said it had no plans to sell its warehouse operations, responding to speculation it wanted to spin off the business after the London Metal Exchange (LME) tightened rules to reduce backlogs in the sector. Trafigura bought warehousing company North European Marine Services...
Aluminium rise on LME
Copper futures have settled near one-month highs on the London Metal Exchange (LME), buoyed by hopes for improving Chinese metals demand and a softer US dollar. At the PM kerb close on Tuesday, LME three-month copper was up 0.4 per cent at $US7,158.50 a metric ton. The metal earlier peaked at...
LME wants aluminum warehousing suits heard in New York
The London Metal Exchange asked a panel of U.S. judges on Thursday to assign a federal court in Manhattan to handle a series of antitrust lawsuits that allege the world's largest metal exchange, two of Wall Street's biggest banks and big commodity merchants conspired to raise the price of aluminum....
