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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Aluminium seen USD 1950 per tonne on average in 2013 - Chinalco
Reuters reported that abundant stocks of aluminium and lukewarm demand in the global market may cap prices on the London Metal Exchange at about USD 1,950 per tonne on average next year from just above USD 2,000 expected this year. Mr Yang Xiaowu director of futures department at Aluminum...
Aluminium futures rise on global cues, spot demand
Tracking a firming trend in base metals in the global markets and rising spot market demand, aluminium prices edged up by 0.72 per cent to Rs 105.15 per kg at futures market. At the Multi Commodity Exchange, aluminium for delivery in October shot-up by 75 paise, or 0.72 per cent, to Rs 105.15 per...
LME WEEK-Aluminium seen $1,950/T on average in 2013-Chinalco exec
Abundant stocks of aluminium and lukewarm demand in the global market may cap prices on the London Metal Exchange at about $1,950 per tonne on average next year from just above $2,000 expected this year, a senior Chinalco official said. Yang Xiaowu, director of futures department at Aluminum...
LME aluminium expected to temporarily settle at $1,952
LME aluminium looks exhausted in its fall and may temporarily stop at or above a support at $1,952. A five-wave cycle from an hourly chart high at $2,121.75 is ending, and most likely the bottom of the fifth wave will be at $1,952, the 138.2 percent Fibonacci projection level of a downward wave C....
LME aluminium might rebound to $2,030
LME aluminium would rebound to $2,030 per tonne, as it has come to a support at $2,004. The support is provided by the 100 percent Fibonacci projection level of a downward wave C. The completion of a five-wave cycle around this level also significantly increases the chance of a rebound to $2,030,...
LME aluminum should move between USD 1,970-2,010/mt: SMM Morning Review
Growing risks of the euro zone debt crisis and sluggish consumption against oversupply of spot aluminum ingot drove LME aluminum prices down. LME aluminum dipped to a low of USD 2,002.3/mt during the European session, falling most sharply among base metals. LME aluminum failed to rebound due to...
LME aluminium expected to fall to $2,004
LME aluminium is expected to fall more to $2,004 per tonne, as it has broken below a support at $2,056. The support sits on the 61.8 percent Fibonacci projection level of a downward wave C, which is unfolding towards its 100 percent projection level at $2,004. The lower channel line of a falling...
LME aluminum should move between USD 2,020-2,065/mt on 10th Oct: SMM Morning Review
The International Monetary Fund (IMF) further revised down its forecast for global economic growth for 2012 and 2013 on October 9. The IMF also warned that global economy will continue to deteriorate unless the euro zone debt crisis and the US fiscal tightening are under control. The EU finance...
LME aluminium still eyes $2,056
LME aluminium still targets $2,056 per tonne, as it's still riding on a downward wave C. This wave is a part of a downtrend that started at the Sept. 14 high of $2,199. It started at $2,140 and is capable of travelling to $2,004, the 100 percent projection level, which is also pointed by the lower...
Daily Cash Price of LME Aluminum Shifts Up
The aluminum cash price saw a 0.9 percent increase on Oct. 5, 2012, reaching $2,087 per metric ton on the LME and making it the biggest mover for the day on MetalMiner’s aluminum price index. Also on the LME, the 3-month price of aluminum rose 0.9 percent to $2,115 per metric ton. On the flip side,...
Aluminium provides a cheaper substute for costly copper
Copper, enjoying much superiority over any other metal in electrical and thermal conductivity and also ductility, is today about four times as expensive as aluminium. But with China showing evidence of slowing growth for a seventh straight quarter, the three-month forward prices on the London Metal...
LME aluminium might drop again to $2,063
LME aluminium would fall to $2,063 per tonne, as a rebound from this level has ended at Tuesday's high of $2,140. The rebound has been driven by three waves labelled a, b and c, with wave c having peaked slightly below a resistance at $2,147, the 61.8 percent Fibonacci retracement on the fall from...
3-Month Price of Aluminum Improves Slightly
With a 1.4 percent increase over the past day, the 3-month price of aluminum was the biggest mover on the LME, closing at $2,126 per metric ton on Oct. 1, 2012. After a 1.3 percent increase, the primary aluminum cash price finished the day on the LME at $2,094 per metric ton. Weakening prices...
LME aluminium to retest support at $2,071
LME aluminium would retest a support at $2,071 per tonne, as a downtrend from $2,199 has resumed. This trend will totally reverse a preceding uptrend that started at the Aug. 16 low of $1,827.25, as the uptrend has been driven by three waves. A three-wave mode is the typical wave pattern of a...
LME 3-Month Price of Aluminum Shifts Up
The aluminum 3-month price saw the biggest upwards shift for the day on our MetalMiner’s price index, rising 1 percent on the LME to close at $2,096 per metric ton on Sept. 28, 2012. Also on the LME, the cash price of primary aluminum increased 1 percent as well to $2,068 per metric ton. The cash...
LME, Indian Aluminum Cash Prices Fall on Weekly Price Index
The week’s biggest mover on the weekly aluminum price index was the cash price of primary aluminum, which saw a 3.5 percent decline on the LME to $2,048 per metric ton. This comes on the heels of a 2.4 percent increase the week before. Following a 2.9 percent increase in the week prior, the...
Plenty of ups and downs in Global aluminium prices
There have been plenty of ups and downs with the global price of aluminium, according to Lloyd T O'Carroll of Davenport & Company. Over the past month, claims O'Carroll in the Aluminum Association's Aluminum Highlights, the LME cash price has gone from just under $2,000 earlier in September to just...
LME aluminum should move between USD 2,070-2,110/mt on 28th Sept: SMM Daily Review
The Spain's draft budget for 2013 released overnight would cut overall spending by USD 51 billion, easing market worries over the euro zone debt crisis. Despite forecast-beating weekly jobless claims in the US, a string of other economic data were downbeat in the US including August durable goods...
