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 small gain supported by falling US dollar; SHFE continues to fall
Benchmark aluminium price on London Metal Exchange increased to close at US$2059 per tonne on Thursday, March 22, up from the previous day’s close at US$ 2056.5 per tonne. According to SMM, increasing US trade protectionism dragged aluminium prices down, with LME aluminium falling to lows of $2,063...
LME aluminium resumes downward trend; High inventories give pressure to SHFE aluminium
After a gain on Tuesday to US$ 2073 per tonne, LME aluminium resumed its downward trends and closed at US$ 2056.5 per tonne on Wednesday 21 March. As updated by Shanghai Metals Market, LME aluminium met resistance at the 10-day moving average and lacked strong support overnight. SMM expects the...
LME aluminium continues uptrend; SHFE registers a decline
Benchmark aluminium price on London Metal Exchange increased further to close at US$2073 per tonne on Tuesday, March 20, up from the previous day’s close at US$2070.5 per tonne. LME aluminium continued to consolidate and is expected to trade at US$2,070-2,095 per tonne today, according to SMM. The...
LME aluminium increases further; SHFE shows gain after continuous downtrend
Benchmark aluminium price on London Metal Exchange increased further to close at US$2070.5 per tonne on Monday, March 19, up from the previous day’s close at US$2069 per tonne. According to SMM, there will be limited downward room for the US dollar if interest rates increase. This may give little...
LME aluminium registers a temporary gain; SHFE on a downward trend
LME aluminium shows some positive gain after a drop last Friday. LME aluminium closed at US$2069 per tonne on Friday March 16, up from US$2062 per tonne on Thursday March 15. LME aluminium gradually fell with resistance at the $2,100 per tonne level, according to Shanghai Metals Market. SMM expects...
Critical dichotomy of rising inventory and winter capacity cut freezes China aluminium market
The winter heating season and capacity cut deadline ends today on Thursday March 15. Aluminium smelters in 28 northern Chinese cities had been told to reduce output by at least 30 percent from Nov. 15 to March 15, although the actual volume cut was below expectations, putting pressure on prices....
LME and SHFE aluminium likely to trade low as as China's winter pollution controls expire today
After closing lower at US$ 2080 per tonne on Tuesday 13 March, LME aluminium showed some positive gain and crept up to US$2096 per tonne on Wednesday March 14. With the dropping of euro and the rebound of US dollar index to around 89.7 overnight, most base metals climbed up yesterday. As updated by...
LME aluminium resumes downward trend; climbing inventory jeopardizes SHFE aluminium
After a modest gain on Monday to US$ 2097 per tonne, LME aluminium resumed its downward trends and closed at US$ 2080 per tonne on Tuesday 13 March. As updated by Shanghai Metals Market, LME aluminium met resistance at the five-day moving average and support at $2,100 per tonne last night. SMM...
China aluminium struggles under climbing inventory and low demand; A00 ingot drops across the market
As updated by Shanghai Metals Market, spot aluminium fell to RMB 13,800 per tonne on Monday March 12. SMM updates today’s average A00 ingot price stands at RMB 13,810 per tonne and is expected to trade in a range of RMB 13790 – 13830 per tonne today with a discount of RMB 100-80 per tonne. Primary...
Impending trade war jeopardizes both LME and SME; LME closes further down with support at $2,100 per tonne
The US dollar rebounded above 90 overnight, while base metals saw mixed trading. LME aluminium is struggling under increasing downward pressure and closed further down at US$ 2082.50 per tonne on March 8. However, the contract inched up and received support at US$2,100 per tonne overnight. Shanghai...
LME aluminium starts the week with a drop; to be rangebound at the five-day moving average
With the US dollar hovering around the 90 level at the backdrop of the trade war between the US and other countries, base metals saw mixed trading. LME aluminium started the week with a drop. In the short term, Shanghai Metal Market expects the US dollar to continue to hover at 89.9 with...
LME aluminium closed the last week slightly higher; SHFE aluminium expected to be rangebound today
LME aluminium closed the last week with a slight increase after US President Donald Trump announced that the country would impose a 10% global tariff on all imported aluminium. The contract traded higher over the day and finally closed at USD2144 per tonne on Friday, March 2. Shanghai Metals Market...
LME aluminium slips on the back of strong US dollar; SHFE up on active trading
As seen by Shanghai Metals Market LME aluminium came under pressure from the strong US dollar and slipped to a low of USD2,129/t overnight and finally closed at USD2158 per tonne on Wednesday, February 28. Since LME aluminium inventory growth has come to a halt, aluminium prices on the bourse are...
A00 aluminium ingot prices gain in China on active trading; raw materials remain flat
After staying passive since the reopening of trading after the Chinese New Year Holidays, buying started getting active in the aluminium physical market on Tuesday February 27. As said by Shanghai Metals Market, active trading has narrowed spot discounts. After a moderate gain yesterday, average...
LME aluminium drops further, but may firm up as inventory growth comes to a halt
The benchmark aluminium price on London Metal Exchange slipped further from US$2,188.50 per tonne to US$2,172.52 per tonne on Tuesday, February 27, as stocks were available and selling was regular. But finally LME aluminium inventory growth has come to a halt, which means aluminium prices on the...
LME aluminium crosses US$2,200/t mark, but likely to fall back upon testing resistance
The benchmark aluminium price on London Metal Exchange climbed higher on Friday, February 23, to cross the US$2,200 per tonne mark as the market got direction from the return of China to trading after Lunar New Year Holidays. The light metal contract closed at US$2,210 per tonne, up from US$2,190...
Inventory climbs up and A00 ingot prices drop after the Chinese New Year holidays
Trading starts in China at a sluggish pace after the Chinese New Year and there is no such significant movement in the prices of commodities and the raw materials other than the substantial drop in A00 aluminium ingot prices. According to Shanghai Metals Market, China’s social inventory of refined...
China market latest update: trading will be off due to Chinese New Year holiday
Since the Chinese Exchange closes on the spring festival holidays from February 15, to February 21, 2018, there is no latest price update for China today. As on February 14, aluminium Ingot prices remain unchanged at RMB 14,010 per tonne. In the individual markets, average A00 ingot prices register...
