ADC12 consolidates on a strong note as costs rise and orders see marginal improvement
Aluminium scrap: This week, China's aluminium scrap market price centre edged up alongside primary aluminium. As of September 10, SMM A00 aluminium prices closed at RMB 24,560 per tonne, up RMB 210 per tonne from RMB 24,350 per tonne last Thursday. Domestic aluminium scrap prices followed with...
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...
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LME aluminium unlikely to rebound this week; to retest resistance at $1,488
Aluminium on London Metal Exchange (LME) will have little chance of a rally this week, SMM said last week, Friday. The US dollar will stay elevated on US Fed’s hawkish tone, and SHFE aluminium will remain in downward track, boding ill for LME aluminium. Also, LME aluminium has met strong resistance...
SHFE aluminum to lead declines in Shanghai market, SMM Says
Base metal prices on the SHFE are expected to continue their declines on October 27, with SHFE aluminum to lead price losses, Shanghai Metals Market foresees. “A considerable increase in short positions on the SHFE aluminum has sent its price to new record lows, and this will also weigh down other...
China A356 aluminum alloy operating rate falls in September
Operating rate at 15 Chinese A356 aluminum alloy producers dropped to 58.50% in September, Shanghai Metals Market survey found. Output at these producers also fell to 105,300 tonnes, SMM survey showed. Lower profit from tumbling aluminum prices discouraged SMEs from production. Large producers, on...
China aluminum FRP operating rate to fall more sharply in October
The average operating rate at Chinese aluminum plate, sheet, strip and foil producers will fall more sharply in October after a slight decline in September, SMM foresees. SMM bases its prediction on the fact that demand is not strong in October, the traditional high-demand period. The rate was...
LME aluminium vulnerable to losses this week
LME aluminium will be vulnerable to losses this week on negative news from China, SMM says. Bearish sentiment is strong in China. The US dollar index found strong support near 94. LME aluminium has lost support at all moving averages. All these factors will push LME aluminium down below $1,550 per...
SMM aluminum opens at $1,593.5/mt only to end down $16/mt on Oct 15
LME aluminum hovered around USD 1,595/mt after opening at USD 1,593.5/mt on Thursday, October 15. But LME aluminum fell to USD 1,564/mt later as the US dollar index rose while gold and crude oil prices dropped. Finally, the light metal ended down USD 16/mt or 1% at USD 1,579/mt. Trading volumes...
SMM aluminum market morning review
Aluminum on London Metal Exchange (LME) hovered around the 5-day moving average after opening at USD 1,593/mt on October 14, Wednesday, hitting a session low of USD 1,581.5/mt. But LME aluminum rallied later as gold prices jumped and the US dollar index fell back. Finally, the light metal ended up...
SMM aluminum market morning review
LME aluminum shot up to USD 1,592/mt after opening at USD 1,559/mt on October 7. The light metal fell back later in the day, but then rallied to USD 1,577/mt. In overseas market, the euro zone’s final manufacturing PMI was 52.0 in September. ISM’s US manufacturing PMI was 50.2 in September,...
China aluminum semis exports to rebound in Sept
China’s aluminum semis exports will rebound slightly in September after 6.25% year-on-year decline in August, SMM predicts. The rally will driven by the pullback in SHFE/LME aluminum price ratio and yuan’s devaluation, SMM’s aluminum research team said. Outbound shipments were just 300,000 tonnes...
SMM aluminum market morning review (2015-9-25)
Aluminum at London Metal Exchange (LME) opened at USD 1,573/mt on Thursday, September 25. The light metal touched day’s high of USD 1,588/mt and day’s low of USD 1,570/mt. Finally, LME aluminum ended up USD 1/mt at USD 1,579/mt, helped by rising gold prices. Trading volumes were down 924 lots, and...
China aluminum inventory to continue growing on capacity expansions, SMM Says
China’s aluminum stocks will grow further in October after 320,000 tonne year-on-year surge in September, SMM predicts. New capacity will come online at faster pace heading into October, the major contributor to inventory growth, SMM’s aluminum research team said. Poor downstream consumption will...
Pre-holiday stocking to support China aluminium prices this week
Spot aluminum prices in China will draw support since buying will pick up before upcoming Mid-Autumn Festival and Chinese National Day holiday (Oct. 1-7), says Shanghai Metals Market (SMM). Spot discounts of 50 yuan per tonne are expected over Shanghai Futures Exchange (SHFE) 1510 aluminum....
SMM aluminum market morning review (2015-9-16)
LME aluminum fell to USD 1,590/mt on Tuesday, but then bounced back to above USD 1,600/mt on exit of shorts. Finally, LME aluminum ended at USD 1,617.5/mt. Trading volumes were up 6,470 lots to 16,553 lots, and positions were down 4,375 to 828,000. It’s worth noting that LME aluminum inventories...
SMM aluminium market morning review
LME aluminum hovered narrowly around the 40-day moving average after opening at USD 1,616/mt on Monday. The light metal fell below the 5-day moving average to USD 1,595/mt later in the day before ending down USD 12/mt at USD 1,598/mt. Trading volumes were down 2,353 lots to 6,948 lots, and...
China aluminum cash cost falls in August on lower power cost
The average cash cost at Chinese aluminum smelters slipped 0.45% month-on-month in August, SMM statistics showed. SMM attributes the decline largely to 1.15% fall in power costs. Some smelters put lower-cost captive power plants into service, dragging down overall power costs. Alumina cost slid...
SMM aluminum market morning review
US non-farm payrolls missed forecasts, but jobless rate hit over 7-year low. LME aluminum fell back after opening higher at USD 1,630/mt last Friday. The light metal ended down USD 15/mt or 0.92% at USD 1,610/mt. Trading volumes were down 5,374 lots to 9,301 lots, and positions were up 3,003 to...
China aluminum prices to take hit after 3-day holiday
Aluminum prices in China’s spot market will take a hit after the three-day holiday, Shanghai Metals Market foresees. More ingots will arrive at China’s major regional markets after the holiday. Meanwhile, traders that have signed term contracts will increase shipment at the beginning of the month....
China aluminum semis exports show no positive signs in H2, says SMM
Shanghai Metals Market(SMM) sees no positive note for China’s aluminum semis exports in H2 2015. One of the drags comes from one large Chinese company listed on the HKEx, who has been accused by overseas institution of engaging in aluminum semis exports in disguised form. Besides, a high SHE/LME...
