Aluminium fluoride prices rise on cost support; premium for high-grade supply widens
This week, trading sentiment in China's aluminium fluoride enterprises was moderate, and aluminium fluoride prices continued to rise. As of now, SMM mainstream quotations for aluminium fluoride stand at RMB 11,500-12,300 per tonne; cryolite spot prices firmed, with SMM cryolite quotations at RMB...
Macro rate hike expectations bring periodic pressure, while destocking in China provides solid bottom support
Futures: The most-traded SHFE aluminium contract opened at RMB 24,310 per tonne in the night session on September 10, reached a high of RMB 24,310 per tonne and a low of RMB 24,075 per tonne, and closed at RMB 24,125 per tonne, down RMB 365 per tonne or 1.49 per cent from the previous close....
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LME aluminium registers a rise after consecutive falls; SHFE gains support from higher alumina price
After a continuous downtrend, LME aluminium registered a rise and closed at US$ 2135.5 per tonne on Monday from US$ 2098.5 per tonne in the previous closing. It registered a second consecutive rise last night. It stood firm above the five-day moving average, jumping to a high of US$2,134.5 per...
LME aluminium closed slightly higher; SHFE plummeted to a new low of RMB13,940/t
The US dollar dipped to a three-week low ahead of the tariffs on $34 billion of Chinese imports. Base metals mostly ceased their downward trend but remained weak. Benchmark aluminium price on London Metal Exchange increased to close at US$2127 per tonne on Thursday, July 5. After touching a high of...
LME aluminium wakened to a low of US$2,083/t, SHFE climbed on talk of aluminium production cuts
Most LME and SHFE base metals dropped last night. LME aluminium wakened to a low of US$2,083 per tonne before rebounding to USS$2,103 per tonne. LME aluminium contract closed lower at US$ 2120.5 per tonne yesterday July 4 from US$ 2165 per tonne on July 3. Shanghai Metals Market expects the...
China’s primary inventory continues to decline slower on narrow consumption
The decline in China’s social inventory of primary aluminium continued to slow down over the week ended July 5, 2018, according to the data showed by Shanghai Metals Market. This could be attributed to the slowdown in consumption, resulting in suppressed purchasing interest among downstream...
LME aluminium plunged overnight after closing slightly higher yesterday; SHFE to remain rangebound
The US dollar inched down to close at 94.58 on a stronger Euro before the US Independence Day holiday. Despite that base metals went down on worries over global trade conflicts and weak Chinese manufacturing data released earlier this week. The LME aluminium contract closed slightly higher at US$...
LME aluminium closed higher on Friday; expected to cease the downward trend today
LME base metals saw mixed trading on Friday June 29. LME aluminium broke the support at US$2,150 per tonne and dipped to a low of US$2,130 per tonne last Friday. The metal closed at US$ 2183 per tonne on Friday, June 29, from US$ 2173 per tonne on Thursday June 28.SMM expects it to cease the...
Traders in east China keen to purchase primary aluminium on wider spot discounts
On the face of widened spot discounts on Thursday, June 28, traders in the east China aluminium market showed keen interests in purchasing cargoes, according to Shanghai Metals Market. Such high buying interests also spurred trading liquidity. Producers in east China showed interests to offload...
LME aluminium fell on growing worries over global trade wars; SHFE to stay weakly rangebound in short term
Base metals and LME aluminium fell overnight on growing worries over global trade wars. LME aluminium fell to a low of US$ 2,142 per tonne with open interests up 2,702 lots to 672,000 lots. The metal closed lower at US$ 2173 per tonne on Thursday, June 28, from US$ 2204.5 per tonne on Wednesday...
Alumina spot price in China sees a further decline, while A00 aluminium ingot price grows
After rallying at RMB 2786 per tonne for two days in a row on June 25 and 26, alumina spot price plunged to RMB 2745 per tonne in China today, on June 27, 2018, according to Shanghai Metals Market. The average price is expected to hover at RMB 2745 per tonne. In the east, the alumina price dropped...
Slow downstream consumption and possible work suspension to put pressure on ingot prices in China
As updated by SMM, buyers in the spot aluminium markets in east and south China held back from purchasing on Monday June 25 as future prices fell in the morning. Transactions in Shanghai were mostly heard at RMB 14,080-14,110 per tonne with discounts of RMB 50-40 per tonne against the SHFE 1807...
LME aluminium closed higher on Monday; SHFE to remain low on falling alumina and prebaked anode prices
LME aluminium rebounded with the dipping of US dollar and closed Monday’s trading at US$ 2172 per tonne. LME aluminium was dragged down by its SHFE counterpart to close at a low of US$2,149.5 per tonne last night. It is expected to recover some losses and move close to the five-day moving average...
China’s aluminium inventory sees marginal decline on lower consumption: A00 ingot price dips
The primary aluminium inventory in China, including SHFE warrants, saw a slower decline over the weekend as environment probe deterred downstream consumption. As of June 25, 2018, primary aluminium inventories across eight major consumption areas in China shrank 15,000 tonnes to stand at 1.87...
LME aluminium continues downward trend; SHFE to trade at RMB14,150-14,300/t today
LME aluminium rebounded to a high of US$2,193 per tonne from a session-low of US$2,162.5 per tonne overnight. Benchmark aluminium price on London Metal Exchange dropped to close at US$2167 per tonne on Thursday, June 21. SMM sees pressure at the five-day moving average and support at the US$2,160...
A00 aluminium ingot price rises marginally, while alumina price shows no change
After showing a restraint yesterday, on June 21, at RMB 14120 per tonne, the average A00 aluminium ingot price saw a marginal growth today, June 22, to RMB 14130 per tonne, according to Shanghai Metals Market. The prices are expected to range between RMB 14110 per tonne and RMB 14150 per tonne,...
China’s aluminium inventory sees a slower decline this week: A00 ingot price is unchanged
China’s inventory of primary aluminium, including SHFE warrants, declined slower this week with a slight growth of warehouses supplies, according to Shanghai Metals Market. On Thursday, June 21, 2018, inventories of primary aluminium across eight major consumption areas in China shrank 40,000...
LME aluminium prices tumbled to its lowest since April after global aluminium production surged
LME aluminium tumbled to the weakest since April after data showed world primary aluminium production increased to 5.441 million tonnes in May. The metal failed to receive support at US$2,177 per tonne last night and touched a low of US$2,165 per tonne, Shanghai Metals Market reports. LME aluminium...
LME aluminium continues to fall in absence of strong fundamentals and growing trade tensions; SHFE follows suit
LME aluminium fell further and closed at US$ 2179 per tonne yesterday from US$2220.50 per tonne on Monday. Then the contract broke the US$2,200 per tonne level overnight as the US dollar index registered a fresh high in 11 months. Without support from fundamentals and with the growth in the US...
Aluminium fluoride prices to remain stable in near term: SMM updates
According to Shanghai Metals Market, aluminium fluoride prices in China are likely to remain stable in the near term as a large number of producers would jointly support prices. On June 14, 2018, many major fluorochemical enterprises in Hengshan and Hunan province gathered and agreed to collaborate...
