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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LME aluminum should fluctuate between USD 2,050-2,080/mt on 31st dec: SMM Morning Review
Both the November existing home sales in the US and December Chicago manufacturing PMI released last Friday beat forecasts, but market focus was on the fiscal cliff talks restarted on December 30. The US dollar index staged a strong rebound and approached 80 as investors tried to avoid risks,...
LME aluminum should move between USD 2,060-2,100/mt on 28th Dec: SMM Morning Review
Expectations for the rebound of the Chinese economy helped LME aluminum jumped to a high of USD 2,108/mt during early European session. However, economic data in the US released later was mixed. Worries over the fiscal cliff talks and the sharp decline of US Consumer Confidence Index for December...
Aluminium futures marginally down on weak spot demand
Aluminium futures prices declined by 0.17 per cent to Rs 114.10 per kg today as speculators indulged in reducing their positions largely in tune with a weak spot demand. However, gains in copper and other base metals at the London Metal Exchange (LME) capped the losses. At the Multi Commodity...
LME aluminum should move between USD 2,065-2,095/mt on 24th Dec: SMM Morning Review
The US durable goods orders and personal income were upbeat in November, but no progress has been made over the fiscal cliff talks, deterring investors from entering the market ahead of the Christmas Day. Short-covering helped push LME aluminum prices up to USD 2,097.3/mt during the European...
LME aluminum should move between USD 2,040-2,080/mt on 21th Dec: SMM Morning Review
The final reading of the US 3Q GDP expanded at an annualized rate of 3.1%, higher than forecasts and its highest since 4Q 2011. However, investors are worried that easing policy might end in advance because of economic recovery. Besides, the US initial jobless claims rose to 361,000 last week,...
LME aluminum should move between USD 2,070-2,110/mt on 20th Dec: SMM Morning Review
Housing starts in the US declined 3.0% in November to an annualized 861,000 units, far worse than forecasts. Despite expectations for the solution of the budget negotiations in the US, the Fitch warned that if no agreement is reached over the fiscal cliff, the country will probably lose its AAA...
Aluminum Stockpiles Climb to Record
Aluminum inventories in warehouses monitored by the London Metal Exchange rose to a record and traders may decide to deliver even more metal. Stockpiles climbed 0.7 percent to 5.24 million metric tons on gains in Detroit and Baltimore, exchange data showed today. Tomorrow is the so-called prompt...
LME aluminum should move between USD 2,060-2,100/mt on 19th Dec: SMM Morning Review
Most investors in Europe and the US are exiting the market as the Christmas Day draws near. As a result, positions of LME aluminum decreased as much as 32,592 lots. Investors are staying cautious before agreement is reached over the budget negotiations in the US. In response, LME aluminum retreated...
LME aluminum should move between USD 2,080-2,120/mt on 18th Dec: SMM Morning Review
The New York Federal Reserve Bank said on Monday its 'Empire State' manufacturing activity index fell to -8.10 in December and was well below forecasts, rekindling market risk aversion. President Obama is trying to solve the fiscal cliff before the Christmas Day. Otherwise, massive tax increases...
LME aluminium up in Weekly Aluminum Price Index
The biggest mover on the weekly Aluminum MMI was the LME aluminum 3-month price, which saw a 1.9 percent increase to $2,132 per metric ton. This week marked the third in a row of rising prices for the metal. The primary aluminum cash price rose 1.9 percent on the LME this week, closing out the...
LME aluminum should move between USD 2,115-2,135/mt on 17th Dec: SMM Morning Review
The upbeat flash manufacturing PMI in China and the US for December boosted market confidence. However, manufacturing activity in the euro zone contracted in the fourth quarter, clouding market outlook. A weaker US dollar failed to give a lift to commodity prices. LME aluminum found it high at USD...
LME Prices Rise on Daily Global Aluminum Index
The 3-month price of aluminum saw the biggest increase at 1.4 percent on the LME, finishing at $2,134 per metric ton for Dec. 12, 2012. Also on the LME, the primary aluminum cash price increased 1.4 percent to $2,130 per metric ton. The cash price of primary Indian aluminum finished the market day...
LME aluminum should move between USD 2,100-2,130/mt on 14th Dec: SMM Morning Review
The European finance ministers have reached a deal overnight during the two-day EU summit that all banks in the euro zone will come under the ECB supervision, a big step towards banking integration in the region. Greece’s application for the next round of bailout funds was also approved during the...
Aluminium futures prices down 0.22%
Aluminium futures prices declined by 0.22 per cent to Rs 114.65 per kg today as speculators trimmed their positions, triggered by a weakening trend in base metals in the global markets. At the Multi Commodity Exchange, aluminium for delivery in December edged lower by 25 paise, or 0.22 per cent, to...
LME aluminum should move between USD 2,120-2,160/mt on 13th Dec: SMM Morning Review
The Federal Reserve (Fed) announced overnight that it will continue monthly purchase of USD 40 billion mortgage-backed securities, buy additional USD 45 billion long-term Treasury bonds and keep low interest rate unchanged until at least mid-2015 unless unemployment rate and inflation reach a...
LME aluminum should move between USD 2,080-2,120/mt on Wednesday: SMM Morning Review
According to the US Commerce Department’s release overnight, the US trade deficit expanded in October, with exports declining 3.6%, the biggest fall since 2009. No progress has been made over the US fiscal cliff. Markets are staying cautious ahead of the results of the interest rate meeting by the...
Big Jump for LME Aluminum Spot Price For the Week
Closing at $2,094 per metric ton on the LME, a 5.1 percent increase made the aluminum cash price the biggest mover on the weekly Aluminum MMI®. Also on the LME, the aluminum 3-month price rose 4.7 percent last week to $2,092 per metric ton. The Indian aluminum cash price rose 1.8 percent this week,...
LME aluminum should move between USD 2,070-2,100/mt on Monday: SMM Morning Review
The US November nonfarm payrolls increased by 146,000 and unemployment rate fell to 7.7%, its lowest since December 2008, helping commodity price rebound. However, a lack of progress over the US budget negotiations and the upcoming US Federal Reserve interest rate meeting helped the US dollar index...
