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 improves but weak tone to prevail, says SMM
<p>LME aluminium price improved on Wednesday's night trading to close at US$1,730.5 per tonne, up 0.46 per cent from the previous day. The contract is predicted to move in the range of US$1,720-1,735 per tonne on Thursday, December 22. However, Shanghai Metals Market analysts say due to significant...
LME and SHFE aluminium to strengthen with mixed factors
<p>The downward slide in LME aluminium came to a halt on Tuesday's night trading as the contract closed at US$1722 per tonne showing limited strength at 0.29 per cent higher closing price than the previous day. The market stabilized as aluminium met resistance from the moving averages. According to...
LME aluminium to struggle at $1,700-1,750/tonne range; China aluminium to swing widely
<p>LME aluminium prices have been falling since last week Tuesday after trading at US$1,762 per tonne last Monday. The contract struggled within the range of $1,730-1,750 per tonne as the US dollar index rose higher. LME aluminium closed at US$1,732 per tonne on Friday, December 15. <br /><br />In...
LME aluminium to remain range-bound, SHFE designates warehouse for aluminium delivery
<p>Volatility is setting in across global base metal prices amid cautious market sentiment. LME aluminium after trading at around US$1,752/mt on Wednesday stumbled 0.91 per cent to close at US$1,736/mt on Thursday, December 15. Shanghai Metals Market forecast says, the contract will keep ranging at...
LME and Chinese aluminium expected to diverge as U.S. dollar index rises after Fed rate hike
<p>LME Aluminium broke through the 5-day moving average as the U.S. Federal Reserve raised interest rate in yesterday's meeting. The contract after trading at highs throughout the day closed at US$1,752/mt on Wednesday, marginally down by 0.17 per cent from Tuesday. With the U.S. dollar index...
LME Aluminium edges higher but China aluminium dips amid cautious trading
<p>As the U.S. Federal Reserve readies to end the year with Interest Rate Hike to be decided in today's policy meeting, markets take guard with wary sentiment. Crude oil prices, on the other hand, have jumped by 4.82%, sitting at US$56.95/bbl. The price rally in the benchmark oil prices got...
LME Aluminium meets resistance, SHFE prices to fluctuate at current range
<p>LME Aluminium met resistance after rising for three consecutive days and closed at US$1,749.50/mt on Monday, December 12. Shanghai Metals Market predicts, the contract will move in the range of US$1,725-1,745/mt on Tuesday. <br /><br />The market is now looking ahead to the possible interest...
Environmental inspections trigger massive production cuts among China aluminium producers
<p>China government sent environmental protection teams to seven regions from November 24 to 30 to supervise environmental protection work, including Beijing, Shanghai, Guangdong, Hubei, Chongqing, Shaanxi and Gansu. SMM conducted a survey to find out the impact of the inspections on smelter...
LME Aluminium to rise further, SHFE base metal prices expected to swing this week
<p>LME Aluminium ended the last week amid gains after increasing for three days in a row. The contract broke through the 20-day moving average and closed at US$1,742.50/mt after Friday's night trading. According to Shanghai Metals Market forecast, with the market firming LME aluminium will increase...
LME aluminium strengthens while SMM foresees fluctuation in SHFE prices
<p>LME aluminium strengthened as speculation over positive key macroeconomic data to be released on Friday and in the short term supported commodity prices. The U.S dollar futures index neared a one-week high during afternoon trading on Thursday, after European Central Bank President Mario Draghi...
LME Aluminium closes with gains but SMM says volatility will persist across the board
<p>LME aluminium seems to be moving into a volatile range. The contract after trading at around US$1,718/mt on Tuesday, closed with gains at US$1,728/mt after Wednesday's night trading. Rising oil prices which climbed to a 16-month high after OPEC agreed to trim output, last week, by 1.2 million...
LME Aluminium weakens as dollar rallies, China aluminium to move 'weakly', says SMM
<p>LME aluminium prices took a hit as US dollar index rallied on Tuesday's night trading. The contract underperformed and dropped below the 40-day moving average closing at US$1,718/mt on Tuesday, down 0.58 per cent from previous day's closing at US$1,728/mt. <br /><br />According to Shanghai...
LME Aluminium gains support from a weak dollar and rising oil prices
<p>LME Aluminium reversed its downward trend as two major macroeconomic factors- the US dollar index and oil prices gave support. The US dollar index dropped to 100 from highs after Italian vote and oil soared more than 10 per cent on Wednesday to over $50 a barrel- its highest in a month,...
LME Aluminium falls weighed on by a strong dollar, SHFE Aluminium sets to swing this week
<p>Elections in Italy held on November 4 saw majority Italians voting against the move to amend post-war constitution and Prime Minister Matteo Renzi stepping down in populist revolt which sent the US dollar to new highs. The strong dollar, in turn, weighed down LME aluminium prices. The contract...
LME Aluminium to be range-bound at US$1,710-1,745/mt, but 'trading will be caution' says SMM
<p>LME Aluminium is edging higher. After the Organization of Petroleum Exporting (OPEC) Countries reached a consensus to cut production by 1.2 million barrels a day starting in January 2017, yesterday, the metal investors took a cue and moved money into the commodity markets making industrial...
LME Aluminium gets support from oil output cut agreement, SHFE Aluminium drops further
<p>LME Aluminium price fall finally took a hiatus with the OPEC members reaching consensus on oil output cut on Thursday. The contract which traded at around US$1,722/mt on Tuesday, closed at US$1,722.50/mt on Wednesday. On Thursday, December 1, LME aluminium price will move in the range of...
LME Aluminium moves lower, China expected to tighten liquidity
<p>LME aluminium is continuing its downward trend. After staging a temporary reversal on November 24, when it touched US$1,774/mt, the contract took a sharp south-bound turn and has been declining since then. It closed at US$1,722/mt after Tuesday's night trading, down 2.51% from the previous...
A strong dollar to weigh on LME Aluminium, money supply tightens in China
<p>LME aluminium after diving overnight on Monday moved above the 10 and 20-day moving averages to close at US$1,766.50/mt. The price fall was in tandem with other base metal futures traded on the exchange. The US long-term government treasury rate increased over market expectations of a possible...
