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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High China aluminium ingot stocks could be the new normal
<p>Aluminium ingot stocks in China major markets will continue to keep rising in the short to medium term, Shanghai Metals Market (SMM) predicted after surveying warehouses in Shanghai, Wuxi, Nanhai, Hangzhou and Gongyi.</p> <p>The rise in aluminium ingot stocks is striking because of the fact that...
LME aluminium may trail behind SHFE aluminium and test support at US$1,889/t
<p>The descent in LME aluminium prices seems to be continuing this week. The light metal traded globally plummeted during Friday’s night trading to end the week-long journey at US$1,907 per tonne, down 0.36 per cent from its previous close at US$1,916 per tonne on Thursday, May 4. Shanghai...
LME aluminium retraces US$1,909/t; SHFE aluminium rebounds after drifting lower
<p>The downtrend in LME aluminium prices seem to be continuing in the foreseeable future. The light metal traded globally retraced US$1,909 per tonne on Thursday, May 4, down 0.3 per cent from the previous day’s close of US$1,916 per tonne. Reuters’ analysis suggests LME aluminium may...
Will recent maintenance reverse alumina supply & demand picture? SMM reports
<p>Two alumina producers in Shanxi recently entered maintenance. What triggered this move? Will this have big impact on alumina output and prices?</p> <p>Shanxi East Hope Jinzhong Aluminum put 1 million-tpy alumina line under maintenance last week, affecting output by 14,000 tonnes.</p> <p>Tianyuan...
LME aluminium inches higher on capacity crackdown rumour in China
<p>LME aluminium prices have finally gained some strength after falling for four days at a stretch. The light metal traded globally closed at US$1,916 per tonne on Wednesday, May 3, up 0.36 per cent from its previous close of US$1,909 per tonne on Tuesday, May 2. Shanghai Metals Market (SMM)...
Profit margins rise at Chinese aluminium smelters; more capacity to come online
<p>The recent slump in alumina prices in China has seen aluminium producers from the country making reasonably high profits. Of late, the profit margins have been improving steadily, Shanghai Metals Market found in a survey.</p> <p>The average profit registered by the Chinese aluminium smelters...
LME aluminium headed further south, SHFE aluminium seeking support at US$1,988/t
<p>LME aluminium prices are in retreat due to the supply side reforms initiated in China. Though Goldman Sachs holds a better price outlook for the light metal in the coming months (US$2,100 in 12 months), the recent price drop seems to be taking the sheen off the light metal to a certain extent....
LME aluminium to move in a tight range; SHFE aluminium will test support at US$2030.34/t
<p>LME aluminium ended last week in a drop. The light metal contract traded globally registered a drop of 1.25 per cent from its previous close to end at US$1,930 per tonne on Friday, April 28. Yesterday being the Early May Bank Holiday at the London Metal Exchange, trading will resume today....
LME aluminium to edge higher while range-bound trading expected in SHFE aluminium
<p>LME aluminium prices climbed higher drawing support from a vulnerable US dollar index that has been on a decline since the beginning of this week. The light metal contract rose by 0.74 per cent from Tuesday’s close of US$1,943 per tonne to end at US$1,957.50 per tonne on Wednesday, April...
LME aluminium to move at highs; supply-side concerns will support SHFE aluminium
<p>LME aluminium prices find support at US$1,931 and rises to US$1,943 per tonne after night trading on Tuesday, April 26. The 0.77 per cent rise from the previous close of US$1,928 per tonne on Monday, April 24, can be explained by the fact that the US dollar index is hovering near its five-month...
LME aluminium may find support at US$1931; SHFE aluminium moves in a tight range
<p>LME aluminium prices are fluctuating in a very narrow range. The light metal contract which closed at US$1,932.50 per tonne on Friday, April 21, dropped 0.23 per cent to end at US$1,928 per tonne on the first trading day of the week. Reuters' analysis has it that LME aluminium may break a...
LME aluminium rebounds to stay up, Shanghai aluminium follows suit
<p>LME aluminium finally staged a strong reversal on Thursday's night trading and closed at US$1,933 per tonne, rising 1.95 per cent from its previous close of US$1,895.50 per tonne on Wednesday, April 19. As Reuters finds it, LME aluminium faces a resistance at US$1,955 per tonne and may retrace...
LME aluminium regains strength while SHFE aluminium shows ‘signs of stopping declines’
<p>The London Metal Exchange market opened yesterday after the Easter Holidays; LME aluminium that has been falling since April 5, finally regained some strength and closed at US$1,915.50 per tonne, up 1.34 per cent from its previous close of US$1,890 per tonne on April 13, Thursday. As Shanghai...
LME aluminium to open higher at US$1920/t, Shanghai aluminium ends lower
<p>The London Metal Exchange market remained closed till Monday, April 17, for the Easter Holidays. Shanghai Metals Market (SMM) expects that LME aluminium will open higher at US$1,920-1,965 per tonne on Tuesday, April 18 (at 15:00). The market will watch out for the price support at lows, analysts...
How will stricter environmental checks affect secondary aluminium smelters and prices? SMM Reports
<p>The environmental protection storm swept across the regions in China in 2016, and this will continue to 2017. How will this affect China’s secondary aluminum industry?</p> <p>China’s four ministries jointly issued 2017 Air Pollution Prevention and Control Action Plan in Beijing,...
LME aluminium dives as US dollar index edges up, Shanghai aluminium inches higher
<p>LME aluminium comes down below US$1,900 per tonne as the US dollar index representing greenback's strength against a basket of six major currencies edges higher. The lightmetal contract closed at US$1,890 per tonne on Thursday, April 13, down 0.89 per cent from its previous close of US$1,907 per...
Further downside in LME aluminium is likely, Shanghai aluminium inches up
<p>LME aluminium is swinging in a tight range. The lightmetal which has been showing sideways movement of late closed unchanged at US$1,907 per tonne on Wednesday, April 12. Reuters' analysis says LME aluminium may edge up to US$1,930 per tonne, as it has pierced a resistance at $1,914. However,...
LME aluminium flattens at US$1,929/t, while SHFE aluminium inches higher
<p>LME aluminium price remained unchanged as it closed at US$1,929 per tonne after night trading on Monday, April 10. The light metal, despite indications of a potential reversal, is taking time to gather momentum. Shanghai Metal Market (SMM) says LME aluminium will regain its lost ground and move...
