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 heads south as dollar index rises; reversal on the cards
<p>LME aluminium ended the last week in a drop falling 1.38 per cent from its previous close of US$1,956 per tonne on Thursday, April 6 to US$1,929.50 per tonne on Friday, April 7. The US dollar index which was hit slightly by Syria strike effect rose late Friday extending its weekly gains. The...
LME aluminium headed further up; price consolidation on cards
<p>LME aluminium is rising and how. The light metal which touched the highest since mid of May 2015 at US$1,931 per tonne on Wednesday, March 29, climbed further up to close at US$1,955 per tonne (+1.24%) on Thursday, March 30. Shanghai Metals Market (SMM) predicts LME aluminium will trend higher...
LME aluminium inches up, finds ally in SHFE aluminium; price may fall in 3 months
<p>LME aluminium is back to where it was a week ago. At US$1,918 per tonne after Tuesday's night trading, the contract has inched higher from its previous close of US$1,916 per tonne on Monday but remains at the same level where it was seven days back. The news about the US President Donald Trump...
LME aluminium dips; SMM foresees further decline and range-bound trading
<p>LME aluminium dipped marginally after meeting resistance at US$1,940 per tonne. The contract moved below the 5-day moving average to close at US$1,916 per tonne on Monday, March 27. The previous closing was recorded at US$1,917 per tonne. Shanghai Metals Market (SMM) estimates LME aluminium will...
LME aluminium to test US$1,940/t; SHFE aluminium will see weak trading, says SMM
<p>LME aluminium maintained a fairly steady uptrend last week. The lightmetal which started the week at US$1,908 per tonne on Monday, March 20, ended at US$1,917.50 per tonne on Friday, March 24. The rise was moderate at 0.49 per cent over the past seven days. Shanghai Metals Market (SMM) says LME...
Ingot inventories drop as production resumes at China Gongyi’s aluminium processing units
<p>The month-long pollution control drive launched in China's Gongyi, Henan Province came to an end earlier this week. The environmental protection team that was conducting inspections left the region letting operations to resume at the local aluminium downstream facilities.</p> <p>Shanghai Metals...
China’s aluminium semis export drops in Feb; SMM says exports will “barely rise further”
<p>China's export of aluminium semi-finished products in February 2017 declined 10.30 per cent from the corresponding period in 2015, showed data published by the General Administration of Customs on March 23. Aluminium semis exported by the country last month totalled 230,000 tonnes while for...
Falling inventories lift LME aluminium; China base metals to keep diverging, says SMM
<p>The rising momentum in LME aluminium is continuing. The light metal which crossed the US$1,900 per tonne mark on Friday last week again rose on Tuesday's night trading to close at US$1,918 per tonne, up 0.52 per cent from its previous day's close of US$1,908 per tonne. Reuters observes LME...
LME aluminium gets a boost from a weak US dollar as Fed hikes interest rates
<p>Aluminium prices on the London Metal Exchange (LME) got a boost from the falling US dollar after Federal Reserve announced interest rate hike at the conclusion of this month’s FOMC meeting on Wednesday, March 15. LME aluminium closed at US$1,863 per tonne after Wednesday's night trading,...
LME aluminium drops further, SHFE aluminium to test support at 60-day moving average
<p>After experiencing a bullish run since the beginning of 2017, LME aluminium dropped below the 40-day moving average for the first time, indicating bearish trends. After dropping down to USD 1,882 per tonne on Monday, March 13, LME aluminium closed at $ 1,851 per tonne on Tuesday, March 14...
LME aluminium drops after a short recovery, SHFE aluminium to follow downward trend
<p>After a quick rise to USD 1,885 per tonne on Friday March 10, LME aluminium closed slightly lower at $ 1,882 per tonne on Monday March 13. As seen by SMM, LME aluminium will test support at the 5-day moving average on Tuesday and will trade at USD 1,870-1,895/mt.</p> <p><img...
LME aluminium closes the week with a rise after a low run; crude oil continues to fall
<p>After a steady rise to hit US$1,934 per tonne on March 1, on the news of China’s alumina and aluminium capacity cut orders for 28 cities, aluminium started a downward trend as a standard technical correction and with decline in crude oil prices. LME aluminium rallied on last Friday March...
Week in review: LME aluminium back at US$1,845/t; Shanghai aluminium fluctuates in tight range
<p>This week aluminium prices came down from its earlier highs of US$1,990 per tonne to move in the range of US$1,865-1,845 per tonne. Aluminium contract traded on the London Metal Exchange (LME) opened the week at US$1,868 per tonne on Monday, March 6 and then came down to close at US$1,847 per...
LME aluminium drops after staging a short reversal, SHFE aluminium moves in a tight-range
<p>Aluminium contracts traded on the London Metal Exchange (LME) and major commodity exchanges of Shanghai kept diverging on Thursday. While LME aluminium dropped after rising at US$1,881 per tonne on Wednesday, Shanghai Metal Exchange (SME) benchmark price of aluminium edged higher at US$1,957 per...
LME aluminium retraces to US$1,881/t, range-bound trading expected; Shanghai aluminium drops
<p>The falling LME aluminium found support at US$1,857 per tonne and edged higher reversing its week-long downtrend. The contract closed at US$1,881 per tonne during Wednesday's night trading, rising 1.28 per cent from its previous day's close of US$1,858 per tonne. As Shanghai Metals Market (SMM)...
LME aluminium to edge higher at US$1,920, SHFE aluminium likely to hover at lows
<p>The downtrend in LME aluminium prices continued till Monday's trading hours until the contract found support at 40-day moving average of US$1,857 per tonne. The closing price on Tuesday, US$1,858 per tonne, was 0.53 per cent higher than the previous day's closing at US$1,868 per tonne. Reuters...
US dollar index recovers weighing down LME and SHFE aluminium
<p>The US dollar Index stabilized following Friday's decline last week. The DXY was modestly higher on Monday, holding near 101.59, an increase of 0.04 per cent from previous day's close. The upside in greenback caused base metals to slip further down the price curve across major bourses of the...
LME aluminium closes lower at US$1,929 on March 2; SHFE aluminium slips in tandem
<p>LME aluminium slipped as positions rose during Thursday's night trading. The contract declined marginally by 0.25 per cent from Wednesday's closing of US$1,934 per tonne to close at US$1,929 per tonne on Thursday, March 2. As Shanghai Meals Market (SMM) finds it, LME aluminium will test support...
