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...
Grow with
AL Circle
LME aluminum should fluctuate between USD 2,030-2,060/mt on 17th Jan: SMM Morning Review
The World Bank lowered its forecast for global economic growth overnight, turning investors away from risky assets and sending the US dollar index up. LME aluminum prices dipped to USD 2,031.8/mt during the European session, extending losses for four trading days in a row, but still found strong...
LME aluminum should fluctuate between USD 2,040-2,060/mt on 16th Jan: SMM Morning Review
LME aluminum prices plunged to USD 2,033/mt during early European session, the lowest in one and a half months. The US economic data released later was mixed. Retail sales in the US rose 0.5% MoM in December and beat forecasts, helping LME aluminum recover earlier losses. However, the New York Fed...
LME aluminum should move between USD 2,095-2,145/mt on 11th Jan: SMM Morning Review
China’s trade surplus surged to USD 31.62 billion in December, well above forecasts. China’s soaring exports greatly boosted market confidence. The Bank of England and European Central Bank decided overnight to keep interest rate unchanged as expected. The US dollar index lost support at 80 as a...
LME aluminum should move between USD 2,040-2,080/mt on Wednesday: SMM Morning Review
Most investors are awaiting China’s economic data due Friday. LME aluminum recovered some losses after falling below USD 2,050/mt thanks to dip-buying by longs. Total positions were up 5,774 lots to 688,450 lots. Resistance, however, remained at the 10-day moving average as longs were wary of...
LME aluminum should fluctuate between USD 2,050-2,085/mt on 7th Jan: SMM Morning Review
Bearish sentiment will continue to dominate the aluminum market. LME aluminum should be capped under USD 2,085/mt and fluctuate in a band of USD 2,050-2,085/mt on Monday. The SHFE 1303 aluminum contract is expected to open lower at RMB 15,270/mt, with prices between RMB 15,220-15,320/mt. Trading...
LME aluminum should fluctuate between USD 2,050-2,080/mt on 31st dec: SMM Morning Review
Both the November existing home sales in the US and December Chicago manufacturing PMI released last Friday beat forecasts, but market focus was on the fiscal cliff talks restarted on December 30. The US dollar index staged a strong rebound and approached 80 as investors tried to avoid risks,...
LME aluminum should move between USD 2,060-2,100/mt on 28th Dec: SMM Morning Review
Expectations for the rebound of the Chinese economy helped LME aluminum jumped to a high of USD 2,108/mt during early European session. However, economic data in the US released later was mixed. Worries over the fiscal cliff talks and the sharp decline of US Consumer Confidence Index for December...
LME aluminum should move between USD 2,065-2,095/mt on 24th Dec: SMM Morning Review
The US durable goods orders and personal income were upbeat in November, but no progress has been made over the fiscal cliff talks, deterring investors from entering the market ahead of the Christmas Day. Short-covering helped push LME aluminum prices up to USD 2,097.3/mt during the European...
LME aluminum should move between USD 2,040-2,080/mt on 21th Dec: SMM Morning Review
The final reading of the US 3Q GDP expanded at an annualized rate of 3.1%, higher than forecasts and its highest since 4Q 2011. However, investors are worried that easing policy might end in advance because of economic recovery. Besides, the US initial jobless claims rose to 361,000 last week,...
LME aluminum should move between USD 2,070-2,110/mt on 20th Dec: SMM Morning Review
Housing starts in the US declined 3.0% in November to an annualized 861,000 units, far worse than forecasts. Despite expectations for the solution of the budget negotiations in the US, the Fitch warned that if no agreement is reached over the fiscal cliff, the country will probably lose its AAA...
LME aluminum should move between USD 2,060-2,100/mt on 19th Dec: SMM Morning Review
Most investors in Europe and the US are exiting the market as the Christmas Day draws near. As a result, positions of LME aluminum decreased as much as 32,592 lots. Investors are staying cautious before agreement is reached over the budget negotiations in the US. In response, LME aluminum retreated...
LME aluminum should move between USD 2,080-2,120/mt on Wednesday: SMM Morning Review
According to the US Commerce Department’s release overnight, the US trade deficit expanded in October, with exports declining 3.6%, the biggest fall since 2009. No progress has been made over the US fiscal cliff. Markets are staying cautious ahead of the results of the interest rate meeting by the...
LME aluminum should move between USD 2,050-2,100/mt on Friday: SMM Morning Review
The Bank of England and European Central Bank (ECB) decided overnight to leave interest rates unchanged. The ECB revised down its economic forecast for the euro zone for the year of 2012 and 2013, increasing market worries and causing the euro to plunge. No progress had been made on the US budget...
LME aluminum should move between USD 2,080-2,130/mt on 4th Dec: SMM Morning Review
China’s manufacturing PMI rose to a 7-month high in November. Risk appetite grew during the European session, pushing commodity prices up. The US November manufacturing PMI declined more than expected, increasing expectations for additional monetary policy easing, sending the US dollar index below...
LME aluminum should move between USD 2,090-2,140/mt on 3rd Dec: SMM Morning Review
LME aluminum continued to drift higher last Friday, buoyed by positive economic data in Europe and the US. LME aluminum briefly dipped to an intraday low of USD 2,057/mt after opening at USD 2,060/mt, but later broke resistance at the 60-day moving average all the way to near USD 2,100/mt. Finally,...
LME aluminum should move between USD 1,970-2,010/mt on 27th Nov: SMM Morning Review
Market risk appetite grew overnight as there was a good chance that the euro zone finance ministers would reach an agreement on approving Greece’s request for another round of bailout funds. As a result, LME aluminum jumped to a high of USD 2,000/mt during the European session before finally ending...
LME aluminum should move between USD 1,950-1,990/mt on 26th Nov: SMM Morning Review
News had it last Friday that disagreement between the IMF and EU over Greece’s request for another round of bailout funds narrowed and that consensus was likely to be reached in the short term, helping the euro stage a strong rebound and driving the US dollar index down to near 80. Although LME...
LME aluminum should move between USD 1,930-1,950/mt on 23rd Nov: SMM Morning Review
HSBC flash China manufacturing PMI jumped to 50.4 in November, a 13-month high. However, investors remained wary of buying at higher prices. Thin trading was reported in LME market during the European session as the US stock markets were closed for the Thanksgiving Day. The decline of the US dollar...
