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 to move between USD 1,860-1,890/mt: SMM Morning Review
According to minutes of latest interest rate meeting released by the Federal Reserve (Fed) overnight, most Fed members expressed the view that they would support the Fed to ease policies if economy fails to grow at a faster pace, which boosted market confidence. In response, the US dollar index...
LME aluminum to move between USD 1,850-1,880/mt: SMM Morning Review
Large-scale reverse repos by the People’s Bank of China on Tuesday raised expectations for more easing policies. Besides, expectations for stimulus policies from the ECB and Fed also helped boost market confidence. As a result, the US dollar index dropped below 82, adding momentum for commodities...
China Aluminium exports to rise
China's exports of finished aluminium products are expected to rise in August, slightly boosting aluminium ingot demand. But this should not be taken as a sign that global aluminium demand has picked up as these exporters are selling at thin and sometimes even negative profit margins due to the...
LME aluminum should move between USD 1,860-1,895/mt: SMM Morning Review
The decline of China’s trade and loans data for July as well as the US Import Price Index increased market concerns over the slowdown of the global economy. In response, total positions of LME aluminum surged 8,402 lots due to short selling. LME aluminum slipped below all moving averages to a low...
LME aluminum should move between USD 1880 - 1900/mt: SMM Morning Review
The release of China’s July CPI and PPI on Thursday raised hopes for further easing monetary policy in China, but whether or not it will be delivered in the short term is hard to tell. The unexpected decline in the US weekly jobless claims pushed up LME aluminum briefly during the European trading...
LME aluminum should move between USD 1,890-1,930/mt: SMM Morning Review
Germany’s industrial output fell overnight and DBRS downgraded Spain and Italy’s credit rating, weighing on the euro. Investors are staying cautious as they are awaiting China’s CPI for July to be released on Thursday. LME aluminum regained USD 1,900/mt during the European trading session to a high...
LME aluminum should move between USD 1,880-1,915/mt: SMM Morning Review
Market expectations were running high overnight that the ECB may deliver easing policies soon, pushing LME aluminum to break through the 30-day moving average to a high of USD 1,913/mt during the European trading session. However, as the US dollar index held firm at 82, LME aluminum pared gains at...
LME aluminum should move within USD 1,860-1,890/mt: SMM Morning Review
Market confidence was greatly boosted, as markets were digesting the positive US nonfarm payrolls and as the big drop of bond yields of Spain and Italy helped cut borrowing costs in the two countries. The US dollar index tested support at 82, pushing LME aluminum to rebound. LME aluminum broke...
LME aluminum should move within a price range of USD 1,850-1,875/mt: SMM Morning Review
The US nonfarm payrolls for July released last Friday surged 163,000, beating forecasts and boosting market confidence. As a result, the US dollar index pared early gains, down by 1.20%. LME aluminum gained more momentum for a rebound during the European trading session to touch a high of USD...
LME aluminum to move within USD 1,885-1,910/mt: SMM Morning Review
The markets were eyeing the interest rate meeting by the Fed and ECB overnight, raising high expectations on whether the ECB would deliver concrete measures to solve the debt crisis. The July Chicago PMI index and CCI by the Conference Board released later beat forecasts. However, Germany rejected...
LME aluminum should struggle between USD 1,885 to1,910/mt: SMM Morning Review
The Fed and ECB will hold interest rate meeting later this week, raising expectations for loose policies again. Investors stayed cautious ahead of the soon-to-be-released important economic data form China and the US, causing LME aluminum to move narrowly overnight. LME found support at the 5-day...
LME aluminum should struggle within USD 1,885-1,910/mt: SMM Morning Review
The rebound in euro last Friday and the far-better-than-expected GDP in 2Q in the US pushed LME aluminum to extend gains during the European trading session. LME aluminum regained USD 1,900/mt at the tail of trading, but met strong resistance at the 20-day moving average. Coupled with trading...
LME aluminum to move within USD 1,860-1,890/mt: SMM Morning Review
An ECB official expressed support for the European Stability Mechanism to get a banking license so as to borrow from the European Central Bank to help solve the region’s debt crisis. This pushed the euro to the 5-day moving average and LME aluminum to a high of USD 1,893/mt. The disappointing and...
LME aluminum to move between USD 1,850-1,880/mt: SMM Morning Review
Spain’s continually climbing borrowing costs, which has stirred worries that the nation may need all-round aid, and reports of manufacturing contractions in both the U.S. and Europe overshadowed the rebound of HSBC China Manufacturing PMI. LME aluminum closed down USD 8.5/mt or 0.45% at USD...
LME aluminum is expected to hover within USD 1,850-1,890/mt: SMM Morning Review
Spanish 10-year debt yields surged to 7.45%, a euro-era high, on Monday, adding to worries that the nation may need all-round aid. Rumors flew that IMF may suspend Greek aid and that Germany will also abandon the nation, increasing Grexit risks and exacerbating the European debt crisis at large....
LME aluminum should move between USD 1,915-1,950/MT: SMM Morning Review
The US dollar index was pressured at 83 as a string of weak economic data from the United States – new unemployment claims climbed sharply, NAR existing home sales dropped 5.4% after seasonal adjustment, the Philadelphia Fed manufacturing index weakened further to negative 12.9 – and increasing...
The light metal closed down USD 8.8/mt at USD 1,901.3/m: SMM Morning Review
The apparent Fed disagreement on further economic stimulus reflected in its June interest rate meeting minutes pushed the US dollar index to 83.610, a two-year high, eroding the space for commodities prices to climb. LME aluminum dropped to a low of USD 1,895/mt as short selling increased, with...
SHFE aluminum contract hit a high of RMB 15,790/mt: SMM Daily Review
The most active SHFE aluminum contract for October delivery started slightly higher at RMB 15,645/mt and hit a high of RMB 15,790/mt as shorts continued to take profits, strengthening even when other base metals weakened. Cautious longs and pressure at RMB 15,700/mt dragged the contract back to...
