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 aluminum should move between USD 2,020-2,065/mt on 10th Oct: SMM Morning Review
The International Monetary Fund (IMF) further revised down its forecast for global economic growth for 2012 and 2013 on October 9. The IMF also warned that global economy will continue to deteriorate unless the euro zone debt crisis and the US fiscal tightening are under control. The EU finance...
Cast aluminum alloy price is unlikely to rise in Q4: SMM
According to the analysts of SMM that market supply was expand continuously but demand still sluggish, cast aluminum alloy price was unlikely to rise substantially if without the support of downstream industry consumption. Since metal market was improved a lot as well as aluminum alloy ingot price,...
LME aluminum should move between USD 2,070-2,110/mt on 28th Sept: SMM Daily Review
The Spain's draft budget for 2013 released overnight would cut overall spending by USD 51 billion, easing market worries over the euro zone debt crisis. Despite forecast-beating weekly jobless claims in the US, a string of other economic data were downbeat in the US including August durable goods...
SMM Aluminum reports Price Forecast for Sept
LME aluminum prices soared in the first half of this month, while SHFE 1212 aluminum contract prices rose much slower. Last week, LME aluminum prices extended losses, down nearly 4%, whereas the most active SHFE aluminum contract proved resilient, down a mere 1%. The most-traded SHFE aluminum...
Spot aluminum traded between RMB 15,510-15,530/mt in Shanghai on September: SMM Daily Review
The SHFE 1212 aluminum contract opened lower at RMB 15,725/mt on September 21. The most-traded contract struggled at RMB 15,740/mt in session, resilient to declines but rising slower than other base metals. Trading volumes were merely 76,024 lots due to thin trading activities. Finally, the...
LME aluminum should move between USD 2,080-2,130/mt on 21th Sept: SMM Morning Review
Weak manufacturing flash PMI of China and the euro zone for September raised worries over slack global demand for base metals. In response, LME aluminum tumbled to a low of USD 2,100/mt at the tail of Asian session. LME aluminum was deprived of upward momentum due to short selling following the...
LME aluminum should move between USD 2,120-2,170/mt on 19th Sept: SMM Morning Review
Market focus has shifted to the global economy. Spiraling borrowing costs of Spain and Greece’s possible exit of the euro zone have rekindled apprehension over the European debt crisis. In this context, the euro dripped, pushing the US dollar index above 79. Trading volumes of LME aluminum were...
LME aluminum should move between USD 2,130-2,190/mt on 17th Sept: SMM Morning Review
The US dollar index retreated below 79 for consecutive days due to the introduction of QE3. In response, LME aluminum jumped to a high of USD 2,199/mt during European session, the highest since March, 27. Trading volumes also shot up. Finally, LME aluminum ended the day up USD 74/mt or 3.49% to...
LME aluminum should move between USD 2,090-2,040/mt on 14th sept: SMM Morning Review
Market focus shifted to the Fed’s decisions in its interest meeting overnight. The Fed announced QE3 in order to maximize employment in a context of price stability and to promote a stronger economic recovery. The Federal Reserve will purchase $40 billion a month in mortgage-backed securities until...
LME aluminum should move between USD 2,015-2,065/mt on 11th Sep: SMM Morning Review
China’s imports were down as much as 2.6% YoY in August and above-scale industrial added value dropped 0.3 percentage points, highlighting aggravated downward risks of the Chinese economy and raising expectations for policy easing by the People’s Bank of China. Downbeat US nonfarm payrolls in...
China Aluminum Semis Exports Down in January-August
According to China Customs, China exported 8,570 mt of aluminum stranded wire in August, down 29.95% YoY. YTD exports from January through August were 87,136 mt, up 17.92% YoY, topping the seven major aluminum semis in terms of year-on-year growth. SMM statistics show that China exported 1.89...
LME aluminum should move between USD 2,000-2,050/mt on Monday: SMM Morning Review
According to the US Labor Department, the US nonfarm payrolls increased by a seasonally adjusted 96,000 jobs in August, far lower than forecasts, raising market expectations for easing monetary policy in the Fed interest rate meeting due on September 12. In this context, the US dollar index dived...
LME aluminum should move between USD 1,950-1,980/mt on 7th Sept: SMM Morning Review
According to the ECB meeting overnight, the ECB will leave interest rates unchanged and agreed on unlimited purchases of government bonds. The ECB, however, expressed pessimism over the economic outlook of the euro zone over the next two years. The US ADP survey indicates that the jobs created were...
LME aluminum should move between USD 1,940-1,980/mt on 6th Sept: SMM Morning Review
It was reported overnight that the ECB is drafting a bond-buying plan, which involves unlimited and sterilized purchases of government bonds maturing in three years or less, boosting market confidence in Thursday’s ECB meeting to solve the European debt crisis The US dollar index fell as a result,...
LME aluminum should move between USD 1,860-1,900/mt on 3rd Sept : SMM Morning Review
US Federal Reserve Chairman Bernanke said in central bank meeting last Friday that US unemployment rate remained high and the Fed would take measures to help economic recovery if necessary. Expectations for easing policies remain. In response, LME aluminum broke through USD 1,900/mt to a high of...
LME aluminum should move between USD 1,900-1,925/mt on 29th August: SMM Morning Review
Markets are eyeing Federal Reserve Chairman Bernanke’s speech due this Friday, which may signal QE3. However, mixed data of the US overnight casted doubt on whether easing policies can be introduced. Investors are awaiting bond-buying measures from ECB’s policy meeting due on September 6 to ease...
LME aluminum should be close to USD 1,919.5/mt on 27th Aug: SMM Morning Review
It was reported last Friday that the ECB is considering setting yield band targets under a new bond-buying program. Meanwhile, Fed Chairman Ben Bernanke said in a letter to a Congressional oversight panel that the Federal Reserve has room to deliver additional monetary stimulus, also boosting...
LME aluminum to move between USD 1,880-1,910/mt: SMM Morning Review
China and Europe’s weak flash PMI reading for August raised expectations for easing monetary policies in the two regions. Combined with hint of possible QE3 by the US Federal Reserve (Fed), the US dollar extended losses for a fourth straight trading day to 81.221, the lowest for the month. In...
