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 inches higher in week ending Sept 29, but may fall below US$2,100/t
LME aluminium is under moderate pressure as US Dollar index is still on an upward track. The light metal contract closed at US$2,110.50 per tonne on Friday, September 29, up from US$2,102 per tonne on Thursday, September 28. Reuters’ technical analysis suggests that LME aluminium may break a...
LME on a downward track after the leap last week, to move within a narrow range
LME has been on a downward track for last few days after a big leap last week. The light metal contract which closed at US$2,128 per tonne on Monday, September 25, came down to close at US$2,116 per tonne on Tuesday, September 26. Technical analysis suggests that LME aluminium may test a support at...
LME aluminium drops further; may test a support at US$2,125/t
The uptrend in LME aluminium seems to be losing its momentum. The light metal contract which closed at US$2,137 per tonne last Friday, September 22, came down to close at US$2,128 per tonne on Monday, September 25. Technical analysis suggests that LME aluminium may test a support at US$2,125 per...
LME aluminium to move in a narrow range at US$2,145-2,175/t
LME aluminium dropped marginally on Friday, September 22 ending at US$2,137 per tonne. The earlier close was at US$2,154 per tonne. Shanghai Metals Market forecasts that the light metal contract will move narrowly within the range of US$2,145-2,175 per tonne on Monday, September 25. As on September...
A00 ingot prices in China plunge after the big leap, aluminium alloy prices follow suit
An official from the Ministry of Environmental Protection confirmed that winter output cuts will not overlap with illegal capacity closures that are taking place currently. Two producers in Henan have already begun winter cuts in advance. According to SMM, this fuelled the big gains in Chinese...
LME aluminium dips marginally but may fluctuate at highs
LME aluminium dropped slightly as the market supply still remains robust. The light metal contract came down from its earlier close of US$2,164 per tonne on Wednesday, September 20, to close at US$2,154 per tonne on Thursday, September 21. According to Shanghai Metals Market forecast, LME aluminium...
Global aluminium production falls in August, IAI data says
According to the figures released by the International Aluminium Institute (IAI) and published by Shanghai Metals Market, the global aluminium production in the month of August dropped sharply both on monthly and yearly basis. The global aluminium production stood at 4.8 million tonnes in August,...
Advance aluminium capacity cut in Henan buoys aluminium prices in China, alumina continues upward track
Two aluminium and alumina producers in Henan have started winter capacity cuts in advance, from Sept 19. As reported by SMM, Jiaozuo Wanfang Aluminum will cut aluminum capacity by over 30% based on the number of electrolytic cells, while Chalco Zhongzhou Aluminum will cut alumina capacity by over...
LME aluminium to stay at highs; technicals remain positive & inventory at all-time low
LME aluminium recovered from its recent lows and climbed to US$2,107.50 per tonne on Tuesday, September 19, as positions dropped sharply, indicating risk aversion. The rise of 1.95 per cent from its earlier close of US$2,067 per tonne on September 18 proves that the technical side is positive for...
LME aluminium likely to hover at highs; may bounce to US$2,125/t
LME aluminium seems to have regained some strength. After dropping to around US$2,060 per tonne, it is again moving up. The light metal closed at US$2,067 per tonne on Monday, September 18; but Shanghai Metals Market predicts that LME aluminium will range at US$2,080-2,107 per tonne on Tuesday,...
LME aluminium to meet strong resistance and fall in US$2,055-2,068/t range
LME aluminium improved slightly to close at US$2,068 per tonne on Friday, September 15. Shanghai Metals Market observes that LME aluminium will range US$2,080-2,110 per tonne Monday, September 18. According to Reuters’ technical analysis, LME aluminium may fall into the range of US$2,055-US$2,068...
A00 Aluminium Ingot prices rise across all major markets in China; prebaked anode prices remain flat
The China aluminium market is fluctuating almost every day as the news of aluminium capacity cut in the country is slowly fading down. However, A00 Aluminium Ingot prices in China have registered a rise for two days consecutively after a fall. The average price of A00 Aluminium Ingot would range...
LME aluminium drops, but may retrace to US$2,114/t before testing resistance
LME aluminium continues to move widely. The light metal which ended at US$2,100.50 per tonne on Monday, September 11, came down to US$2,083 per tonne on Tuesday, September 12. However, the uptrend in aluminium prices is not over yet. According to Reuters’ technical analysis, LME aluminium will rise...
China’s alumina production soars in August; Henan to slash alumina capacity
Despite tight bauxite supply in Shanxi, China’s alumina production increased in August. The country’s alumina production increased 19.1 per cent year-on-year to 5.92 million tonnes in August. The daily average production stood at 1191,100 tonnes, up 2.6 per cent month-on-month, according to SMM...
China’s exports of unwrought aluminium and aluminium semis down in August
China posted trade surplus decreased to 286.50 billion yuan in August from 321.2 billion yuan in July. Trade surplus was estimated to be 335.7 billion yuan in August, according to Shanghai Metals Market report. China, one of the foremost producers of aluminium semis apart from being the biggest...
LME aluminium inches up by 0.2%; may rise further on weaker dollar
With the US dollar index falling amid North Korea jitters, LME aluminium recovered some strength and rose higher from its earlier close of US$2,069.50 per tonne to US$2,075 per tonne on Thursday, September 7. Reuters’ technical analysis suggests that LME aluminium may revisit US$2,145 per tonne as...
Trading slows down on SHFE aluminium price drop; more capacity to come online in China by 2018
According to a Shanghai Metals Market analysis, SHFE 1711 aluminium will move within a range of RMB 16,280-16,450/t over the day, testing support at the 20-day moving average, after the big drop today. In east China’s spot aluminium market, spot discounts are expected at RMB 200-160/t over SHFE...
LME aluminium down by 0.64%; may break support at US$2,089/t
LME aluminium seems to have temporarily reversed its uptrend though it is too early to predict a direction. The light metal contract dropped to US$2,082 per tonne after night trading on Tuesday, September 5, down 0.64 per cent from its earlier close of US$2,095.5 per tonne on September 4. Reuters’...
