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 shows gain; expected to trade in the range of US$2,260-2,295/t
LME aluminium shows some gain after a drop last Thursday. LME aluminium closed at US$2325 per tonne on Friday April 13, up from US$ 2220.5 per tonne on Thursday April 12. SMM expects LME aluminium to trade rangebound at a relatively high level of RMB US$2,260-2,295 per tonne today. Despite the US...
LME aluminium drops after consecutive rise in last three days; SHFE registers gain
Benchmark aluminium price on London Metal Exchange dropped to close at US$ 2220.5 per tonne on Thursday, April 12, down from the previous day’s close at US$ 2253 per tonne. According to Shanghai Metals Market, US sanctions on Russia buoyed LME aluminium as investors added their long bets overnight....
LME aluminium gains for five consecutive days to touch a record high; SHFE drops on sluggish demand
LME aluminium registered five consecutive days of gains as the US imposed sanctions on Russian aluminium giant Rusal. It hit US$2,277.5 per tonne overnight, a record high since early January 2018. After testing a record high the metal contract finally closed at US$ 2253 per tonne on Wednesday April...
Average A00 aluminium ingot price rose further while alloys price remained steady: SMM learned
Average A00 aluminium ingot price seems to be on a rising spree amidst an overall positive sentiment in the China market, where there’s a balance forming between production and consumption resulted in aluminium inventory and output plunge and input costs’ steady escalation. After a sharp rise from...
US sanction lifts LME aluminium above US$2000 per tonne; SHFE aluminium follows the uptrend
US sanctions on Rusal has lifted the LME aluminium price, creating metal supply insecurities among traders and investors. LME aluminium contract rallied two per cent on Monday’s trading and finally closed at US$2,113-per tonne on April 9 from US$1967 on Friday, April 6. Shanghai Metals Market...
LME aluminium corrects down to US$1967 per tonne after gaining 2.2% on Friday; SHFE reopens with a gain
After registering a record low in eight months, LME aluminium touched a high at $2,063 per tonne last Friday. After the announcement that the U.S. sanctioned and froze Oleg Deripaska's assets subject to US jurisdiction, aluminium prices on the London Metal Exchange gained by 2.2% at the close on...
LME aluminium closes higher after holidays; downward pressure to continue in LME & SHFE
On the first day of trading after Easter Holidays on April 3, the LME aluminium contract closed at US$ 2010 per tonne , recovering from a near eight-month low of US$1997 a tonne on Thursday, March 29, before the holidays. LME aluminium lost its position of US$2,000 per tonne on today’s trading...
LME aluminium opened higher after Easter holidays; SHFE bullish on active trading
After Easter holidays LME aluminium opened higher today. Shanghai Metals Market expects it to rise and test support at the five-day moving average today and trade at US$2,005-2,030 per tonne. On Thursday, March 29, London Metal Exchange aluminium hit a near eight-month low, closing the week just...
LME closed for Easter holidays; SHFE rebounds on active trading and stable raw material prices
The London Metal Exchange is closed on Friday and Monday for the Easter holiday. On Thursday, London Metal Exchange aluminium hit a near eight-month low, closing just above $2,000 a tonne. SMM expects LME aluminium to hover around the US$2,000 per tonne level this week and trade at US$1,995-2,020...
Major aluminium processor registers a slight rise
According to Shanghai Metal Market, a major producer of aluminium plate, strip and foil in Guangdong province witnessed orders jump this month, as compared with the contemporary period of the last month. Similar to the trading growth of aluminium rod that jumped up to RMB 500 per tonne in Shandong...
Elevated processing charges lend support to aluminium rod trading
As reported by Shanghai Metal Market on March 28, 2018, aluminium rod witnessed a trading growth due to stringent supply and rise in processing charges, which jumped up to RMB 500 per tonne ex-factory in Shandong province. Some major sources at aluminium rod producers informed SMM that they were...
A00 Aluminium Ingot Prices again dip in China: SMM shows optimism for the future
After a sharp hike in A00 Aluminium Ingot prices in China from RMB 13660 per tonne to RMB 13740 per tonne yesterday, it again witnessed a slight decline today March 30, 2018. According to Shanghai Meta Market, the average prices have reduced to RMB 13620 per tonne. The prices are expected to range...
LME Aluminium plummets as the dollar index rose; SHFE remains rangebound with the pickup of demand
After registering a temporary gain on March 28, LME Aluminium contract dropped from US$2035 per tonne on Tuesday March 27 as US dollar index rose to 90 and finally closed at US$2009 per tonne on Tuesday March 28. Shanghai Metals Market expects the contract to trade at US$2,020-2,043 per tonne...
LME aluminium shows positive momentum on easing trade tension; SHFE expected to pick up in the short term
LME aluminium registered some gain over yesterday’s trading as the dollar index slipped by 0.1 per cent to 89.29 and closed lower as it met some strong resistance. The light metal contract finally closed at US$2035 per tonne on Tuesday March 27. Shanghai Metals Market expects the contract to trade...
LME aluminium falls further in absence of strong market fundamentals; SHFE follows the trend
LME aluminium continued to weaken overnight and closed the first trading day of the week at US$2022 per tonne on Monday March 26, and SMM expects this downward trend to continue today. SMM sees it trading at $2,035-2,060 per tonne today. According to Reuters, most base metals prices climbed on...
LME aluminium continues downward trend on bearish sentiment; SHFE awaits consumption recovery
Continuing with its downward pressure, LME aluminium is hovering at its lowest since late December. Metal prices also came under pressure amid mounting investor concerns that growing trade tensions would hurt the equilibrium in the global economy. LME aluminium saw weaker performance than its SHFE...
Aluminium inventory dips after two months; SMM projects slow output growth in 2018
China’s refined aluminium inventory saw a first dip last week to 2.28 million tonnes since the start of February. According to SMM data, China's aluminium inventory including SHFE warrants dropped further to 2.26 million tonnes as of Monday March 26. This is down from 2.28 million tonnes on...
Analysts give 2018 outlook for alumina and aluminium at SMM Copper Aluminium Summit
The on-going SMM Copper Aluminium Summit in Shanghai is opening up a number of discussions on the alumina and aluminium sector in China and also throwing light on the possible impacts of the latest tariff on aluminium and steel industry. According to Guo Qiuying, an aluminium analyst at SDIC...
