LME aluminium cash bid price drops 2.06% to $3,273/tonne as stocks decline to 244,350t
LME aluminium prices recorded a sharp decline on September 11 compared with the previous trading day, with cash and three-month prices falling by around 2%, while exchange stocks edged lower. The LME aluminium cash bid price slipped to USD 3,273 per tonne on September 11, compared with USD 3,342...
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...
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SMM Morning Review: LME aluminum should fluctuate in the band of USD 1,900-1,940/mt on 28th March
Worries over the European debt crisis drove the US dollar index above 83 and sent LME aluminum down to USD 1,900/mt. Later, LME aluminum recovered losses due to dip-buying and as US pending home sales rose 8.4% YoY in February. Finally, LME aluminum closed up 0.42% at USD 1,922/mt. Latest LME...
Aluminium futures down on global cues
Taking weak cues from global markets, aluminium prices fell marginally to INR 103.30 per kg in futures trading today as speculators offloaded their positions. Further, sluggish demand in the domestic spot markets also weighed on the metal prices. At the Multi Commodity Exchange, aluminium for...
SMM Morning Review: LME aluminum should fluctuate in the band of USD 1,900-1,940/mt on 27th March
LME aluminum inventories approached 5.24 million mt yesterday, near a record high. Durable goods orders in the US rose more than expected in February, but the country’s consumer confidence index shrank considerably in March and annualized new home sales in February also missed forecasts. In this...
Aluminum prices hovers on the LME
The day’s biggest mover was the Indian aluminum cash price, which saw a 0.3 percent increase. On the LME, the aluminum 3-month price declined 0.3 percent to $1,936 per metric ton. The primary aluminum cash price changed direction with a 0.2 percent drop. After two days of improving prices, the...
LME aluminium spot prices may touch $2,050/t in second half of 2013
London Metal Exchange Aluminium spot prices would go higher in the second half of 2013, averaging $2,050/t versus $1,925/t in the first half, according to a market analysis by London based Barclays. For short term, it could trigger some short covering in the metal, particularly if macro sentiments...
LME 3-month price of aluminum falls for the week
The week’s biggest mover on the weekly Aluminum MMI was the 3-month price of aluminum, which saw a 2.3 percent decline on the LME to $1,943 per metric ton. This comes on the heels of a 1.0 percent increase the week before. The primary aluminum cash price fell 2.1 percent on the LME to $1,905 per...
Temporary increase in aluminium prices on LME
Price of aluminum for three-month delivery on the London Metal Exchange, on Wednesday (20/3) at 15:20 pm, up 0.13% to U.S. $ 1,939.00 per ton, compared to the price the day before. However, during the week commencing aluminum prices are still falling around 1.37%. Within a week, the price of...
SMM Morning Review: LME aluminum should fluctuate in the band of USD 1,930-1,970/mt on 25 March 2013
In order to secure EUR 10 billion bailout fund, the parliament of Cyprus is trying to find a solution to complete EUR 5.8 billion worth of financing, easing market worries. A weaker US dollar helped commodity prices rebound during the European session last Friday. LME aluminum rose to test...
LME price of aluminum drops
The day’s biggest mover was the cash price of primary aluminum which dropped by 2.5 percent on March 19, 2013 to close at $1,895 per metric ton on the LME. The aluminum 3-month price saw a 2.3 percent decline on the LME to $1,938 per metric ton. Following a two-day drop, the cash price of primary...
LME aluminium may end rebound around $1,958
LME aluminium may end its current rebound around $1,958 per tonne and drop towards its March 18 low of $1,927.50. The rebound was triggered by a support at $1,936, the 161.8 percent Fibonacci projection level of a downward wave iii. It looks weak as it has adopted a corrective wave mode. A...
SMM Morning Review: LME aluminum should fluctuate in the band of USD 1,900-1,945/mt on 22nd March
The preliminary March manufacturing PMI from China and the US rose appreciably, but this was offset by contraction in manufacturing activity in Germany and France and uncertain aid package in Cyprus. As a result, LME aluminum retreated from the 5-day moving average, with its low-end price sinking...
Aluminum may extend losses on bear flag
Aluminum prices, down 6.5 percent this year, probably will extend the slump to the lowest since October on the London Metal Exchange, according to technical analysis by Matt McKinney at Zaner Group LLC. After touching a low of $1,934.85 a metric ton on March 11, prices jumped two days later to...
SMM Morning Review: LME aluminum should fluctuate in the band of USD 1,920-1,960/mt on 21st March 2013
Markets were optimistic over the result of the US Federal Reserve (Fed)’s interest rate meeting, attracting dip-buying and helping LME aluminum hit a high of USD 1,956/mt. The Fed stated last night that it will keep low interest rate and QE3 in place. However, uncertainty over Cyprus’s aid package...
SMM Morning Review: SHFE 1306 aluminum price should fluctuate between RMB 14,600-14,700/mt on 20th March
The US housing starts were reported up 0.8% in February to hit a 5-year high, driving LME aluminum to climb to USD 1,952.8/mt. However, the increase was limited as market mainly focused on the vote for tax imposition in Cyprus. The US dollar soared above 83 as Parliament rejected the proposal for...
SMM Morning Review: LME aluminum should fluctuate in the band of USD 1,900-1,950/mt on 19th March
Investors continue to worry about the European debt crisis after Cyprus decided last Saturday to impose tax on bank depositors, triggering sell-off in stock markets and commodities. As such, LME aluminum drifted lower after a low opening, with the low-end price slipping to USD 1,927.5/mt and...
LME aluminum should fluctuate between USD 1,940-1,980/mt on 18th March: SMM Morning Review
The US Labor Department announced last Friday that the country’s CPI grew by 0.7% in February. The New York Federal Reserve reported its Empire State manufacturing activity index fell in March to 9.24, falling short of expectations. Despite a better-than-expected 0.7% growth in industrial...
Aluminum prices rises in London
Aluminum in London rose to a one-week high amid speculation that China’s reserves manager will buy the metal from smelters. Aluminum for delivery in three months advanced as much as 0.6 percent to $1,993 a metric ton on the London Metal Exchange, the highest since March 5, before trading at...
Industrial Metals Advance as U.S. Data Show Economy Improving
Aluminum in London rose to a one- week high and copper climbed for a third day amid speculation that an improving U.S. economy will drive prices higher, prompting Chinese users to place orders. Aluminum for delivery in three months gained as much as 0.6 percent to $1,993 a metric ton on the London...
