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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SMM Morning Review: LME aluminum should move within USD 1,840-1,880/mt on15th May
German ZEW economic sentiment edged up to 36.4 in May, but was well below expectations, suggesting dim economic outlook in the euro zone. Meanwhile, there was nothing cheerful about US economic indicators. As a result, the US dollar index rose to 83.687, weighing down commodity prices. LME aluminum...
SMM Morning Review: LME aluminum should move within USD 1,850-1,880/mt on14th May
It was announced yesterday that China’s April industrial value added and consumer goods retail sales rebounded slightly, but missed expectations. Fixed asset investments in urban areas in the first four months this year slowed from the same period last year. Base metal output during the first four...
SMM Morning Review: LME aluminum should move within USD 1,850-1,890/mt on13th May
Markets were digesting mixed economic indicators for April last Friday. Interest rate cuts by central banks and improvement in US labor market alleviated market concerns some, but US dollar index broke through 83, sending LME aluminum down from USD 1,904/mt to USD 1,848.8/mt. LME aluminum rebounded...
SMM Morning Review: LME aluminum should move within USD 1,870-1,910/mt on10th May
The National Bureau of Statistics announced yesterday that China’s CPI rose 2.4% YoY in April, but PPI declined 2.6% YoY, both missing forecasts. Although the latest US initial jobless claims continued to drop, the figure buoyed market confidence only limitedly. LME aluminum tried to reach USD...
Aluminum trades lower in futures trade on global cues
Aluminum prices fell by 0.54 per cent to INR 101.85 per kg in futures trading today as speculators offloaded their positions on the back of weak global trend. At the Multi Commodity Exchange, aluminum for delivery in May declined by INR 0.55, or 0.54 per cent, to INR 101.85 per kg in business...
SMM Morning Review: LME aluminum should move within USD 1,890-1,930/mt on 9th May
China saw trade surplus in April, alleviating concerns over slowing export-oriented economy. As a result, the US dollar index retreated from 82, helping commodity prices rebound. Longs entered the market, sending LME aluminum above USD 1,900/mt. Nevertheless, LME aluminum trimmed gains after...
Primary aluminum price support shaky as monthly index holds steady
The monthly Aluminum MMI® registered a value of 93 in May, on par with April’s value. In fact, only the cash and 3-month LME aluminum prices fell from one month ago, whereas Chinese billet, bar and scrap saw modest increases. “Aluminum likely remains range-bound as absent any dramatic drop-off in...
SMM Morning Review: LME aluminum should move within USD 1,860-1,895/mt on 8th May
Despite plunge in the Australian dollar yesterday following interest rate cuts, the euro was firm on better-than-expected Germany's March manufacturing orders, sending the US dollar index down. This lent some support to LME aluminum. However, LME aluminum failed to break through the 5-day and...
Aluminium inventories increase by 10825 tonnes
Aluminium inventories appreciated by 10825 tonnes to 5163650 tonnes compared to last night the official data from London Metal Exchange revealed. Aluminium inventories are already at all time highs and the rampant rise is causing markets to destabilize. China, which is the key market of Aluminium,...
SMM Morning Review: SHFE 1308 aluminum contract should move within a RMB 14,650-14,750/mt range
It was announced last Friday that the US April non-farm employment increased more than expected by 165,000 and unemployment rate fell to the lowest in four years at 7.5%. These positive data offset the decline in March factory orders and worse-than-expected April ISM non-manufacturing index in the...
Aluminium futures up on firm global cues
Supported by a firming trend overseas and domestic demand, aluminium futures prices on Friday recovered by 1.37 per cent to INR 99.70 per kg as speculators created positions. At the Multi Commodity Exchange, aluminium for delivery in June edged higher by INR 1.35, or 1.37 per cent, to INR 99.70 per...
SMM Morning Review: LME aluminum should fluctuate between USD 1,800-1,850/mt on 3rd May
Manufacturing activity in Germany and France continued to contract in April. Manufacturing PMI in the euro zone fell to 46.7, pointing to contraction for 21 consecutive months. In order to stimulate economy, the ECB announced it will lower interest rate by 25 basis points to a record low of 0.50%....
SMM Morning Review: LME aluminum to fluctuate between USD 1,800-1,850/mt on 2nd May
The final reading of April manufacturing PMI from the US and China fell far short of forecasts. Coupled with disappointing ADP employment in the US, LME aluminum sank to USD 1,817.5/mt overnight. Shorts aggressively entered the market, forcing longs to take profit, with trading volumes in excess of...
Aluminium weakens 0.2% on global cues
Aluminium futures for April eased by INR 0.15, or 0.15%, to INR 100.55 per kg in 122 lots. At the Multi Commodity Exchange, the May contract fell by a similar margin to trade at INR 102.30 per kg in 71 lots. Subdued demand in the domestic spot markets also weighed on the metal prices. Market...
Aluminium weakens 0.4% on global cues
Aluminium futures for May eased by INR 0.40, or 0.39%, to INR 101.90 per kg in 150 lots. At the Multi Commodity Exchange, the April contract traded lower by INR 0.35, or 0.35%, to INR 100.05 per kg in 415 lots. Prices fell as speculators reduced their positions amod subdued domestic spot markets...
Aluminium futures weaken on global cues
Aluminium prices fell by 0.15 per cent to INR 100.55 per kg in futures trading on Tuesday, largely in tune with a weakening trend in the global markets on demand concern. Further, subdued demand in the domestic spot markets also weighed on the metal prices. At the Multi Commodity Exchange,...
Aluminium futures weaken on global cues
Aluminium prices fell by 0.39 per cent to INR101.90 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...
Aluminium LME daily forecast
Aluminium held on to 1873 support again yesterday & is hovering above 1902 resistance. If we can push through 1910 we could retest 1926/28. A break higher looks unlikely today but if seen could take us to 1953/58. Below 1885 support we should see 1873 trade then a break of the week’s low so far at...
