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....
Grow with
AL Circle
LME aluminium to move in a tight range, base metals in China firm on Yuan devaluation
<p>Positions of LME aluminium increased throughout last week and found a support at lows. After a constant rise the contract closed at its week’s highest at US$1,774/mt on on Thursday. However, on Friday, November 25, LME official cash price of aluminium dropped to settle at US$...
LME aluminium posts further gain, SME aluminium dips 1.7%
<p>LME aluminium is trending higher. The contract after trading at around US$1,765.50/mt on Thursday closed at US$1,774/mt at the end of night trading. The current LME official cash buyer price of aluminium, as on November 25, stands at US$1,773/mt; the 3-months buyer price is US$1,775/mt; and the...
LME aluminium price rally cools down but SMM says it's 'normal'
<p>LME aluminium is on an upward trajectory. Marginal decline in China's aluminium exports this year coupled with steep rise in thermal coal and alumina prices have buoyed the prices up on the bourse, so much so that even the most pessimistic estimates put the annual demand growth rate of the metal...
LME, SHFE aluminium close with gains but a strong dollar to keep the lid on prices
<p>The possible infrastructure development plan from the newly elected U.S. President Donald Trump seems to have finally livened up the commodities market a bit. The base metal prices which were heading downward reversed their trends and responded favourably before the week ended on November 18,...
LME aluminium gives in to the downward pressure, Chalco hikes prices in major markets
<p>As if Trump's win in the U.S. Presidential elections and speculations over possible Fed rates hike were not enough to weigh on the LME aluminium prices that Fed Chairwoman Janet Yellen joined in to deliver a speech in a 'hawkish' tone on Thursday. Result - the US dollar index which was already...
LME aluminium down 2.1% as US dollar strengthens, SHFE volatility to continue
<p>LME aluminium has again set out for a journey downslope the price graph. With the US dollar index strengthening, market sentiment got depressed, and LME official cash buyer price of aluminium slid from US$1,765/mt on Monday to US$1,725/mt on Wednesday, November 16. After Tuesday's night trading,...
LME aluminium dips as the US dollar surges overnight
<p>LME aluminium prices dipped 0.67 per cent to trade at US$1,765/mt on Monday, November 14, weighed on by a strong US dollar index which broke through 100 with high expectation of the US interest rate hike in December’s Fed meeting. LME Official Cash Buyer price for the metal stands at US$...
China aluminium inventories keep growing as shipments recover
<p>Aluminium stocks in China’s five major markets have been rising steadily recently thanks to recovering shipments from northwest China, SMM learned.<br /><br />Besides, inflows of imported aluminium and arrivals of domestic aluminium by trucks have also helped ease supply tightness, SMM...
LME aluminium to remain range-bound while SHFE aluminium set for volatility this week
<p>LME aluminium is all set to enter another volatile phase this week. The contract, after having recovered from the initial aftershocks of the US Presidential election last week, was traded at US$1,777/mt on Friday, November 11. The market was primarily dominated by capital. Shanghai Metals...
LME aluminium consolidates after a marginal dip; SHFE raises trading margin
<p>As market recovered from the knee-jerk reaction of the US presidential elections, LME aluminium prices showed some relaxation and came down marginally to trade at US$1,736/mt on Thursday, November 10. But, analysts believe the dip in the lightmetal prices is not going to continue, and they will...
'Cautiously optimistic' trading expected in aluminium; Chalco hikes prices sharply
<p>LME aluminium prices are tracing a downward slope again. Unlike other base metals which are trending up almost in unison, the lightmetal traded on LME closed at US$1,706/mt after night trading on Tuesday, November 8. The contract was traded at US$1,716/mt a day earlier on the Exchange. <br /><br...
LME aluminium dips weighed on by profit-taking trading
<p>LME aluminium dipped during morning trading on Wednesday, November 2 as profit-taking weighed on the prices marking a hiatus after the recent rally. The US dollar index kept easing on Wednesday as uncertainty persisted over the US presidential elections next week. The investors are feeling...
LME aluminium to edge higher while SHFE aluminium to show range-bound trading
<p>Aluminium traded on London Metal Exchange edged higher from US$1,651 on Tuesday to close at US$1,673 on Wednesday. The metal after falling to a 2-month low at US$1,612.50 on Thursday last week has improved on positive cues and is on an upward trajectory. According to Shanghai Metals Market...
LME aluminium likely to hover in the range of US$1,660-1,685/mt
<p>Aluminium traded on London Metal Exchange (LME) will fluctuate between US$ 1,660-1,685/mt on Wednesday and SHFE 1612 aluminium should range within RMB 13,500-13,800/mt, said Shanghai Metals Exchange in an early morning forecast. <br /><br />In China, aluminium in spot market is expected to trade...
China aluminium stocks to remain at multi-year low, SMM expects
<p>Aluminum stocks in China’s five major markets fell for two consecutive weeks and will remain near multi-year low for the foreseeable future, SMM predicts.<br /><br />SMM attributes the recent decline to low shipments from northwest China, especially Xinjiang. It is estimated that over...
LME aluminium to be weighed on by a strong US dollar
<p>Aluminium on London Metal Exchange will drop to USD 1,660-1,680/mt weighed on by strong US dollar and crude oil volatility. SHFE 1611 aluminium will struggle around the 5-day moving average and move at RMB 12,650-12,850/mt, predicted SMM. <br /><br />Discounts in the range of RMB 160-120/mt are...
China aluminium stocks grow slow after Chinese National Day holiday: SMM
<p>After the weeklong Chinese National Day holiday, The Chinese market started moving. After the smelters resumed operations, Aluminium stocks in China’s five major markets started growing. However, SMM observed that the growth was much lower compared to the past years of aluminium...
SHFE aluminium set for further gains after hitting new high on Oct 13
<p>SHFE 1611 aluminium will likely rise to RMB 12,750-12,950/mt today, driven by south-bound aluminium stocks and downstream stocking before the weekend, stated an early morning forecast by Shanghai Metals Market. Aluminium traded on London Metal Exchange will meet resistance and move at USD...
