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 to hover between USD 1,970-2,000/mt: SMM Morning Review
Amid early strong interest rate cut expectations, the PBOC announced Thursday evening to cut one-year deposit and loan benchmark rates by 0.25 percentage point, boosting market confidence. During European trading, LME aluminum got over early weakness and climbed with other metals, breaking through...
SMM Daily Review of Aluminum Market
Following the plunge of LME aluminum prices last Friday, the most active SHFE September aluminum contract gapped lower at RMB 15,850/mt and ended down RMB 85/mt or 0.53% at RMB 15,865/mt on Monday. It slipped to RMB 15,800/mt in the beginning, but recovered some losses with the help of bargain...
LME aluminum dropped below USD 2,000/mt to close down 0.8% at USD 1,994/mt: SMM Morning Review
Weak US ADP employment data for May and final 1Q GDP released overnight reignited risk aversion, helping the US dollar index return above 83 and record a new 2012 high. LME aluminum weighed by the strong US dollar, dropped below USD 2,000/mt and for the first trading day failing to return above the...
SHFE aluminum contract for September to struggle at RMB 15,950/mt : SMM Daily Review
The most active SHFE aluminum contract for September delivery opened lower at RMB 15,945/mt and settled down only a slight RMB 30/mt or 0.19% at RMB 15,965/mt, even though LME aluminum dipped to a 2012 low. Positions added 1,720 lots to 97,270 lots. Tight cash flow at month’s end and cautiousness...
SHFE aluminum contract to test pressure at RMB 16,050/mt
The most active SHFE aluminum contract for September delivery started at RMB 16,035/mt and closed unchanged from the previous trading day at RMB 16,030/mt on Tuesday. The light metal found its low at RMB 16,005/mt and rebounded with the help of bargain hunting. Profit-taking by longs dragged it...
LME aluminum settled down USD 12/mt or 0.59% at USD 2,015/mt: SMM Morning Review
Investor worries towards Spanish debt stability have been increasing recent days, helping the US dollar index stand steady above 82. There are reports that the Chinese government will release a series of stimulus policies. These stimuli are also hinted to be weaker than those after the 2008...
LME aluminum settled up up USD 13/mt or 0.65% at USD 2,027/mt: SMM Morning Review
Markets were closed overnight in countries including the US, Germany and France due to holidays, leading to light trading. The US dollar index was pressured during early European trading, helping LME aluminum test pressure at the 10-day moving average. The light metal failed to present any...
SHFE aluminum settled up RMB 50/mt at RMB 16,045/mt on Monday: SMM Daily Review
Supported by slight gains in LME aluminum prices overnight, the most active SHFE aluminum contract for September delivery opened higher at RMB 16,030/mt, and settled up RMB 50/mt or 0.31% at RMB 16,045/mt on Monday, after a narrow struggle in RMB 16,020-16,040/mt. Positions added 4,158 lots to...
LME aluminum settled up USD 4/mt or 0.2% at USD 2,014/mt: SMM Morning Review
The US May Michigan Consumer Confidence climbed to a new high since October 2007, beating expectations. However, debt woes of Greece and Spain continued to weigh on market. LME aluminum hit a high of USD 2,030/mt and fell back to settle up only USD 4/mt or 0.2% at USD 2,014/mt. Strong pressure was...
SHFE aluminum contract closed down RMB 80/mt or 0.5%
The Chinese central bank announced in the evening of May 12 to cut banks’ reserve requirement by 0.5 percentage point from May 18, a second cut this year and a signal that monetary policies will continue to loosen as necessary. However, investor worries towards implementation of austerity measures...
SHFE aluminum settled down RMB 70/mt or 0.43% at RMB 16,065/mt on Friday: SMM Daily Review
SHANGHAI, May 14 (SMM) – The most active SHFE aluminum contract for August delivery settled down RMB 70/mt or 0.43% at RMB 16,065/mt on Friday, after opening lower at RMB 16,120/mt. Transacted contracts climbed to 20,000 lots. SHFE aluminum futures prices dropped continually last week, with the...
SMM launches China Scrap Aluminum Industry Chain Analysis 2011
China's total imports of scrap aluminum stayed high at 2.686 million mt in 2011, though falling 5.9% from a year earlier. As domestic scrap aluminum recycling increases, Chinese aluminum recycling businesses now use more domestically produced aluminum scrap. On the other side, the increase in...
LME aluminum settles down at USD 2,054/mt: SMM Morning Review
A European source disclosed that EFSF committee would decide whether to release the second batch EUR 5.2 billion loan to Greece on Wednesday, easing risk aversion due to obstacles for implementation of austerity measures caused by the Greek election. LME aluminum firstly dropped to a low of USD...
Aluminiuml slipped low to USD 2,037.8/mt: SMM Morning Review
Both positions and transactions of LME aluminum added overnight as French and Greek elections stir worries towards implementation of austerity measures in Europe. The light metal slipped to USD 2,037.8/mt, a new low since January 6, before paring losses to USD 19/mt or 0.92% settling at USD...
Spot aluminium Prices Remain Low in China : SMM Daily Review
Due to weakness in the macro economy, the most active SHFE aluminum contract for August delivery closed down RMB 50/mt or 0.31% at RMB 16,275/mt on Monday. Positions added 1,696 lots to 76,178 lots. Financial markets remained relatively negative. The hike of bauxite exports duties to 20% has...
LME aluminium struggles at USD 2,100/mt but spot aluminium prices could rise above RMB 16,200/mt: SMM Aluminum Price Forecast
Spot aluminum stocks did not increase following the May Day holiday. Due to transportation delays, aluminum stocks dropped in Guangdong. Domestic alumina prices climbed due to rumors of Indonesian export restriction, which in turn helped aluminum prices rebound. The most active SHFE aluminum...
LME aluminum closed down USD 10/mt or 0.48% at USD 2,086/mt on Thursday: SMM Morning Review
LME aluminum closed down USD 10/mt or 0.48% at USD 2,086/mt on Thursday as worries towards European economies stay after ECB’s decision to maintain low interest rates and following release of a worse-than-expected US ISM non-manufacturing data for April. As investors wait for a direction from the...
LME aluminum closed down USD 21/mt at USD 2,096/mt on Wednesday: SMM Morning Review
LME aluminum closed down USD 21/mt or 0.99% at USD 2,096/mt on Wednesday, after Europe delivered disappointing manufacturing and employment data and the US disclosed a rapid decline in private employments to push the US dollar index above 79. SMM expects aluminum prices to dip slightly as shorts...
