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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Environmental checks severely hit aluminium extrusion production in China, SMM Reports
<p>The ongoing environmental protection inspections are taking a heavy toll on aluminium extrusion production in China’s major producing regions, SMM has learned.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;"...
LME aluminium retraces US$1,900/t, but the price gain is unlikely to sustain
<p>LME aluminium partially recovered its recent losses and edged higher at US$1,903.50 per tonne on Wednesday, June 7. The 0.55 per cent rise in aluminium prices on the global bourse from the previous day’s close of US$1,893 per tonne is seen as a transitory turnaround by the analysts which...
LME aluminium fails to draw support from a weak dollar; drops below US$1,900/t
<p>LME aluminium failed to hold its ground and plunged below US$1,900 per tonne overnight as crude oil prices fell majorly due to ongoing Middle East tension. The key economic indicator presented a gloomy outlook despite OPEC move to extend production cuts. LME aluminium also failed to draw support...
LME aluminium inches up but likely to test support at US$1,900/t, SME aluminium drops further
<p>As short-term volatility gripped commodity market, LME aluminium inched up from its early-month drop. The aluminium price on the global bourse stood at US$1,917.50 per tonne on Monday, June 5, up from US$1,916.50 per tonne on Friday, June 2. Shanghai Metals Market (SMM) forecast says LME...
LME edges up slightly after two days fall; SHFE 1707 to move within RMB 13,700-13,900/t
<p>After plunging to US$ <span>1,919.50</span> per tonne on Wednesday, May 31, LME aluminium gained a little to close at US$ 1,930 per tonne on Thursday, June 1. According to an SMM analysis, LME aluminium will continue struggling around moving averages and move between USD 1,920-1,940/t...
LME dips further to face resistance at the 5-day and 10-day moving averages; SME follows suit
<p>After closing down at US$ 1943.50 per tonne on Tuesday, May 30, LME aluminium plunged further to close at US$ 1,919.50 per tonne on Wednesday, May 31. According to an SMM analysis, LME aluminium will move between USD 1,920-1,940/mt today, with strong resistance at the 5-day and 10-day moving...
Both LME and SME aluminium dip further after Chinese holidays; trading resumes at SHFE market today
<p>After touching US$1,954 per tonne on Thursday May 25 and followed by a drop, LME aluminium hit a new high of USD 1,968/mt during the Dragon Boat Festival in China, but then tumbled to the 40-day moving average. LME aluminium plunged 1.2% low to close at US$ 1943.50 per tonne on Tuesday, May 30....
Rising crude oil prices boost LME aluminium, SHFE aluminium edges higher
<p>LME aluminium is continuing its uptrend. The light metal after having risen for two days at a stretch rose for the third day gathering strength from the rising crude oil prices, which got a boost from the news on OPEC agreeing to extend oil cut agreement by 9 more moths. LME aluminium closed at...
LME aluminium regains strength as dollar weakens, SHFE aluminium moves in a tight range
<p>LME aluminium reversed the temporary drop and regained its upward momentum as the US dollar index weakened further after the release of not-so-inspiring Fed’s May policy meeting minutes. The light metal traded globally closed at US$1,944 per tonne on Wednesday, May 24, rising 0.93 per cent...
LME aluminium dips after testing resistance at around US$1,947/t, SHFE continues to fall
<p>After picking up pace on news that the OPEC countries may extend their oil output cut agreement, LME aluminium has plunged low on yesterday’s closing as a natural trend after testing resistance at around US$1,947 per tonne. LME aluminium plunged 0.87 per cent from its previous close of...
LME aluminium price drops to find strong support at US$1,900/t, SHFE aluminium struggles
<p>LME aluminium gave up its recent gains and dropped to US$1,905 per tonne Thursday, May 18, from its previous peak at US$1,928 per tonne on May 17. The light metal traded globally finds a strong support at US$1,900 per tonne. Shanghai Metals Market (SMM) forecast says LME aluminium price...
LME aluminium gathers strength from a weak dollar, analysts show cautious optimism
<p>LME aluminium is inching higher through at a ‘cautiously moderate’ pace. The light metal traded globally closed at US$1,928 per tonne on Wednesday, May 17, up 0.67 per cent from its previous close of US$1,915 per tonne on Tuesday, May 16. LME aluminium gathered support partly from...
Secondary aluminium alloy industry enters off-season in advance, SMM reports
<p>The earlier-than-usual arrival of traditional off-season has taken a heavy toll on prices and capacity utilization rate in China’s secondary aluminium alloy industry, SMM learned.</p> <p style="text-align: center;"><img style="vertical-align: middle;"...
India aluminium scrap prices remain unchanged while MCX aluminium edges higher
<p>Prices of major aluminium scrap commodities in India market stayed flat on the Scrap Register Price Index on Friday, May 12, while aluminium futures traded at Mumbai’s Multi Commodity Exchange got some breather. The contract that seemed to have formed a reasonably solid base above INR 120...
LME aluminium ends week down on oversupply issues, may inch up within limits
<p>LME aluminium gave up its marginal gain last week and dropped to US$1,880 per tonne after night trading on Friday, May 12. The 0.37 dip was caused due to oversupply issues looming large over global aluminium market. According to Shanghai Metals Market (SMM), LME aluminium will perform...
LME aluminium inches higher, likely to test support at US$1,883.4/t
<p>LME aluminium finally took a hiatus from its recent slide to close at US$1,887 per tonne after night trading on Thursday, May 12. The light metal traded globally rose 0.9 per cent from its previous close of US$1,870 per tonne mainly on the news of China shutting down outdated and illegal...
China aluminium output in April rises 21.5% YoY; production in Henan drops marginally
<p>According to the first-hand production data released by Shanghai Metals Market, April aluminium output (preliminary) rose 21.5 per cent year-on-year to stand at 5695 thousand tonnes, March aluminium output (final data) was estimated at 3112 thousand tonnes, and the first three month cumulative...
LME aluminium nears a technical correction, SHFE aluminium drops on short selling
<p>LME aluminium prices are on a steady downtrend. The light metal contract traded globally closed at US$1,879 per tonne on Monday, May 8, down 1.46 per cent from its previous close of US$1,907 per tonne on Friday, May 5. After the fourth day consecutive of descent Shanghai Metals Market...
