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 closed down USD 11/mt at USD 1,945/mt: SMM Morning Review
Interest rate cuts by Chinese and European central banks overnight were overshadowed by ECB President Mario Draghi’s pessimistic remarks towards the euro zone economy, pressing down the euro and pushing the US dollar index near 83. LME aluminum started at USD 1,956.8/mt and closed down USD 11/mt,...
LME aluminum closed down USD 15/ MT at USD 1,956/ MT: SMM Morning Review
Base metals prices dropped on the London Metals Exchange overnight, as the euro weakened to push the US dollar index above 82 amid higher expectations that the European Central Bank will cut interest rates, following delivery of weak euro zone economic data. LME aluminum started at USD 1,970/ MT...
LME aluminum settled at USD 1,971/mt: SMM Morning Review
LME aluminum surged as much as 4.36% overnight to USD 1,993/mt, a new high since June 11th, amid strong short covering induced by rapidly increasing expectations on easing policies from both China and Europe. Transacted contracts doubled to 25,000 lots, a new high since December 30th, 2011. Lacking...
LME aluminum settled down USD 5.3/mt or 0.27% at USD 1,909.8/mt: SMM Morning Review
Contractions of manufacturing data were reported across China, the US and Europe on Monday, (Euro zone and US data have fallen to their three-year lows in this regard), rekindling investor worries. At the moment investors are waiting for a direction from the coming ECB interest resolution and the...
LME aluminum settled up USD 72/mt or 3.91% at USD 1,915/mt: SMM Morning Review
The unexpected agreement of euro zone leaders to help bring down borrowing costs of Spain and Italy and restructure the banking sector send LME aluminum above the 10-day moving average to a high of USD 1,920/mt, before settling up USD 72/mt or 3.91% at USD 1,915/mt. Transacted contracts added 4,217...
SHFE aluminum contract settled up RMB 355/mt at RMB 15,360/mt: SMM Daily Review
The most active SHFE aluminum contract for October delivery started higher at RMB 15,160/mt and settled up RMB 355/mt or 2.37% at RMB 15,360/mt, after finding its high at RMB 15,390/mt. Positions dropped 3,494 lots to 123,850 lots. SMM expects the contract to struggle at RMB 15,200/mt for the near...
LME aluminum settled at USD 1,843/mt: SMM Morning Review
Pessimism in the EU Summit going on to solve the region’s debt crisis clouded overnight markets, dragging LME aluminum to a USD 33/mt or 1.76% loss when the light metal managed to recover slightly from a low of USD 1,837.3/mt to USD 1,843/mt. Aluminum was the worst performer among base metals on...
SHFE aluminum contract settled down RMB 110/mt at RMB 15,060/mt: SMM Daily Review
The most active SHFE aluminum contract for October delivery started lower at RMB 15,060/mt and settled down RMB 110/mt or 0.73% at RMB 15,060/mt, rebounding from a new two-year low of RMB 14,925/mt as shorts took profits. Positions added 6,236 lots to 127,344 lots. Transacted contracts broke...
LME aluminum settled up USD 28/mt or 1.52% at USD 1,876/mt: SMM Morning Review
LME aluminum dipped to a fresh two-year low of USD 1,832.5/mt overnight, and rebounded later amid better-than-expected US durable goods orders and pending home sales, hitting a high of USD 1,879/mt and settling up USD 28/mt or 1.52% at USD 1,876/mt. Latest LME aluminum stocks were down 10,825 mt at...
LME aluminum slipped to USD 1,897.8/mt, a two-year low: SMM Morning Review
LME aluminum lost USD 24.8/mt or 1.28% to USD 1,902.8/mt overnight as Fed decided only to extend “operation twist” till year-end in addition to maintaining low interest rates, disappointing investors expecting QE3. The light metal also slipped to USD 1,897.8/mt, a two-year low, while extending its...
LME Aluminum slipped to USD 1,915.8/mt: SMM Morning Review
The US dollar index plunged, helping commodities rebound, after several emerging economies disclosed a USD 900 billion IMF capital injection to help contain the European debt crisis and with stronger expectations for Fed stimulus after US May housing starts trailed estimates. Weak fundamentals in...
LME Aluminum continues the losing streak: SMM Morning Review
Greek election results motivated early Asian trading, but the market soon focused on whether the new government can improve Greece's debt problem and optimism gradually dissipated, and with Spain's 10-year bond yields climbing to more than 7% to further exacerbate the worries over the debt of...
SHFE aluminum settled down RMB 65/mt at RMB 15,800/mt
The most active SHFE aluminum contract for September delivery opened slightly higher at RMB 15,885/mt, shortly hit RMB 15,900/mt and trended downward. Its losses accelerated in the afternoon to finally settle at its low of RMB 15,800/mt, down RMB 65/mt or 0.41%. Positions dropped 244 lots to...
SHFE aluminum settled down RMB 5/mt or 0.03% at RMB 15,865/mt: SMM Daily Review
The most active SHFE aluminum contract started lower at RMB 15,855/mt and settled down RMB 5/mt or 0.03% at RMB 15,865/mt. It met strong resistance at the 5-day moving average and was pressured by the losses in Shanghai Composite Index. Transacted contracts added 4,440 lots to 6,686 lots and total...
Spot aluminum was sold at RMB 15,870-15,900/mt: SMM Daily Review
The most active SHFE aluminum contract for September delivery started at RMB 15,860/mt and settled up RMB 45/mt or 0.28% at RMB 15,900/mt supported by the Shanghai Composite Index’s return above 2,300 points. Transacted contracts were only 2,246 lots and positions added 56 lots to 100,990 lots. The...
SHFE aluminum contract settled down RMB 60/mt at RMB 15,860/mt on Tuesday: SMM Daily Review
The most active SHFE aluminum contract for September delivery started lower at RMB 15,845/mt and settled down RMB 60/mt or 0.38% at RMB 15,860/mt on Tuesday. Resistance at the 5-day moving average was still strong. Positions added 1,528 lots to 100,942 lots. As LME aluminum prices have been soft...
The grey metal settled down USD 4/mt or 0.2% at USD 1,970/mt: SMM Morning Review
Greek debt yields surged to new highs, with 18 banks being downgraded. The Greek election is also near. European factors continued to stimulate risk aversion. LME aluminum met strong resistance at and stayed below the 5-day moving average, dropping to a low of USD 1,961/mt, a new low of this year....
SHFE aluminum contract for September settled up RMB 60/mt at RMB 15,925/mt on Monday: SMM Daily Review
The most active SHFE aluminum contract for September delivery started slightly higher at RMB 15,925/mt and settled up RMB 60/mt or 0.38% at RMB 15,925/mt on Monday. Positions added 2,366 lots to 99,414 lots. Sluggish spot aluminum consumption dragged on SHFE aluminum’s rebound; short term...
