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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China’s spot aluminium market active on bullishness, stocks in China’s major markets continue to rise
In east China spot aluminium market, traders bought actively out of bullishness. Downstream producers sourced metal according to their need. Environmental issues continue to hurt production for both primary and downstream producers. Mainstream traded prices were RMB16,160-16,200 /tonne in Shanghai...
LME aluminium plummets after crude oil prices edge higher; further drop likely
LME aluminium declined sharply after the U.S. Labour Day weekend, as U.S. crude prices rose on returning refineries. The light metal contract, which ended last week Friday at US$2,113.50 per tonne, came down to settle at US$2,095.50 per tonne on Monday, September 4. Reuters’ technical analysis...
LME aluminium unchanged, but to continue uptrend on China capacity cuts
LME aluminium remained buoyed up, unchanged for two consecutive days ahead of the weekend. The light metal contract closed at US$2,113.50 per tonne on Friday, September 1, showing a clear uptrend through its day’s performance. Shanghai Metals Market (SMM) suggests that LME aluminium will continue...
SMM expects prebaked anode supply shortage in winter
SMM observes that there is a good chance of prebaked anode supply shortfall during winter heating season. Environmental inspections have caused tightness in supply of calcined petroleum coke, the raw material for anode. The shortage has also caused calcined coke prices to go up steadily sending...
Rally in SHFE Aluminium pushes traders back to the spot Market on Thursday, August 31
SHFE Aluminium bounced back yesterday, August 31 after the drop the day before. Rally in SHFE 1709 aluminium encouraged traders to throng the east China spot market. Downstream producers still bought as per their demand. Mainstream traded prices for aluminium were RMB16, 220-16,260/tonne in...
LME aluminium likely to swing widely; may retrace US$2,065/t
LME aluminium seems to be somewhat losing its steam. The light metal which closed at US$2096.50 last Friday, August 25, dropped to US$2,092 per tonne on Tuesday, August 29. As per Shanghai Metals Market forecast, LME aluminium will continue to move widely around the 5-day and 10-day moving averages...
Prebaked anode production in China gets affected by calcined coke shortage, environmental checks hit aluminium consumption
On Tuesday’s night trading, SHFE base metals mostly finished lower, including aluminium and today SHFE base metals are expected to hover at highs. SHFE 1711 aluminium will move within RMB 16,200-16,550/t today, with resistance at the 5-day and 10-day moving averages. SMM reports shortage of...
Slow consumption and growing stock to put pressure on China aluminium prices
On last Friday’s night trading, all base metals on SHFE including aluminium fell back and registered obvious declines, except copper. Prices are expected to fluctuate at highs after fallback. SHFE aluminium is expected to hover within a range of RMB16,150-16,450/t on Monday, August 28. In another...
LME aluminium corrects down, but likely to trade in a wide range
LME aluminium corrected down from the highs of US$2,105 per tonne on Thursday, August 24, to US$2,096.50 per tonne on Friday, August 25. Though the correction, analysts say, is reasonable following the huge price gains, it is likely to give in to a wide-range trading in the short term. According to...
China State Council confirms aluminium smelter capacity will be under “rigorous control”
<p>China’s Work Safety Commission of the State Council has confirmed that domestic aluminium smelter capacity will be under “rigorous control,” a news that drove aluminium contracts at the Shanghai Futures Exchange up to US42,500 per tonne.</p> <p>The Shanghai Metals Market weekly...
LME aluminium inches higher but likely to continue testing support
<p>LME aluminium inches higher again and is back to where it was a couple days before. The light metal contract after dropping to US$2,082.50 per tonne on Wednesday, August 23, rose back to US$2,105 per tonne on Thursday, August 24. However, this rise is unlikely to extend in the short term....
Fall in SHFE Aluminium attracts traders and downstream producers to spot Market in China
<p>Both traders and downstream producers thronged into east China spot aluminium market today when SHFE aluminium fell back for two consecutive days. </p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/alustock.jpg" alt="News"...
Southwest Aluminum’s exports increase more than 50% in January-July 2017
<p>Southwest Aluminum Co. posted an increase in its exports of aluminium processed products in January-July 2017. The exports grew 54 per cent year-on-year during the mentioned period, reported by Shanghai Metals Market.</p> <p style="text-align: center;"><img style="vertical-align: middle;"...
Fall in SHFE aluminium dampens trading in East China Market, August output expected to drop
<p>SHFE 1709 aluminium dropped RMB 150 /t after opening on Tuesday, and then recovered some losses before closing. Though there was enough buying and selling in the East China market, overall trading was slow. Traders were in a wait-and-see mode, while downstream producers bought the metal...
LME aluminium likely to slide into US$2,046-2,055/t range
<p>The upward momentum in LME aluminium prices is likely to slow down this week. The bullish sentiment that prevailed last week with investors flooding in the market is settling down. LME aluminium which had closed at US$2,104 per tonne last Friday, August 18, came down to US$2,084 per tonne on...
Aluminium prices lift further in China despite slow demand, pre-baked anode market to remain tight
<p>While SHFE aluminium is performing well in the Chinese market, aluminium stocks in China continues growing week on week as downstream producers are unwilling to buy at higher price.</p> <p>Stocks in China’s seven major markets grew further compared with a week ago, SMM statistics showed,...
Traders flood China aluminium market on rising prices, downstream producers at loss
<p>According to an SMM report, traders in both East and South China markets actively sourced metals yesterday due to the rally in SHFE aluminium prices for two consecutive days. The price rise has fuelled their optimism which is expected to continue in the near term. </p> <p>A00 ingot prices...
LME aluminium continues its upward trend; to test support at the 5-day moving average
<p>LME aluminium continues its upward trend with another leap from US$2,075 per tonne on Wednesday August 16 to close at US$2,095.50 per tonne on Thursday, August 17. As reported by Reuters, LME aluminium may settle into a range of US$2,081- 2,089 per tonne as it has stabilized around a...
