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 2.5/mt or 0.12% at USD 2,117/mt on Tuesday: SMM Morning Review
LME aluminum closed down USD 2.5/mt or 0.12% at USD 2,117/mt on Tuesday, as worries towards the European debt crisis reignited by downgrades on most Spanish banks overshadowed stronger expectations for Fed easing following release of mixed US economic data. The light metal only hit USD 2,133.8/mt....
Shanghai Metals Market Morning Review - 2012/4/27 Aluminum Market
While US delivered mixed data, LME aluminum closed up USD 18/mt or 0.87% on Thursday as Fed’s decision to keep stimulus as a possible policy direction continued to provide support. Its gains were limited by a drop of 1,521 lots in trading volume to 8,227 lots, though. Investors would mostly stand...
Aluminum Fluoride Producers Suspend Production as Prices Plunge
As prices of dry-processed aluminum fluoride drop as much as RMB 800/mt starting from March, and plunges by nearly RMB 1,500/mt since December, producers are jointly suspending production in a bid to curb the downside run, an SMM survey shows. Several producers say they are already running at loss...
Shanghai Metals Market Morning Review - 2012/4/26 Aluminum Market
LME aluminum closed down USD 7/mt or 0.34% at USD 2,073/mt on Wednesday as a surge of over 9,000 mt in aluminum stocks and the sharpest drop since 2009 in US durable goods orders in March overshadowed strong annual reports from the US and Fed’s decision to maintain low interest rates until late...
Shanghai Metals Market Morning Review - 2012/4/24 Aluminum Market
LME aluminum hit a low of USD 2,050/mt overnight as risk aversion investors moved to the safer dollar following release of weak manufacturing data from both China and Europe. The light metal recovered a little bit at the tail of trading after US dollar retreated, settling USD 16.3/mt or 0.78% lower...
Shanghai Metals Market Morning Review - 2012/4/23 Aluminum Market
LME aluminum hit USD 2,091/mt on Friday supported by gains in European stock markets and strong annual reports from the US, but only closed USD 4.3/mt or 0.2% higher at USD 2,078.3/mt as cautiousness stayed. Transacted contracts dropped 3,456 lots to 8,960 lots. The US dollar index closed down at...
Shanghai Metals Market Morning Review - 2012/4/20 Aluminum Market
LME aluminum opened at USD 2,065/mt and dipped to USD 2,051/mt later pressured by weak US economic data. Successful Spanish debt auction afterwards helped the metal break through the 5-day moving average and finally settled near the level. Transacted contracts stayed above 10,000 lots while...
LME aluminum closed up USD 1.3/mt or 0.06% on Tuesday: SMM Morning Review
LME aluminum closed up USD 1.3/mt or 0.06% on Tuesday, with transactions plunging 29,400 lots, after surrendering most gains following release of mixed US housing data. The light metal previously hit USD 2,105/mt supported by falling Spanish debt yields and strong annual reports from US businesses....
LME aluminum stocks dropped 7,425 mt to 5,045,275 mt: SMM Morning Review
The US dollar index stayed near 80 as better-than-expected retail sales in the US continue to support the reserve currency while Spanish debt causes worries towards the euro zone debt crisis to stay. LME aluminum moved within a narrow band between USD 2,062.5-2,082.5/mt and settled up USD 9/mt or...
LME Aluminum Closed Down USD 36/Mt Or 1.71% at USD 2,070/Mt Last Week: SMM Review
LME aluminum closed down USD 36/mt or 1.71% at USD 2,070/mt last Friday as weaker-than-expected Chinese GDP data and rebounding Spanish debt yields strengthened risk aversion and helped the US dollar index return above the 80 mark. The light metal hit a low of USD 2,061/mt and recovered a little...
Henan's Aluminum Smelters Cut Production by over 400,000 Mt
SMM sources report that some aluminum smelters have been suffering losses due to weak aluminum prices, and aluminum smelters in Henan Province have cut production by over 400,000 mt since China raised the price of electricity for non-residential use in 2011. Although many aluminum smelters have...
China Spot Aluminum Inventories Fall for Three Consecutive Weeks
According to a recent SMM survey, China’s spot aluminum inventories have fallen for three consecutive weeks (excluding the Qingming Festival). As of April 12, total stocks of aluminum ingot in Shanghai, Wuxi, Hangzhou, and Nanhai were 861,000 mt, down 11,000 mt from a week earlier and down 34,000...
Traded prices of spot aluminum in Shanghai hover between RMB 15,960 to15, 990/mt on Friday
East China Aluminum: Futures Fail to Rise, Spot Prices Stabilize with Light Trading SHANGHAI, Apr. 13 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,960-15,990/mt on Friday, with discounts of RMB 10/mt to premiums of RMB 20/mt over the SHFE current-month aluminum price....
LME aluminum above the 10-day moving average to USD 2,126/mt today-SMM Morning Review
The successful bond auction by Italy and Fed’s consideration of QE3 as disclosed by New York Fed President had sent LME aluminum above the 10-day moving average to USD 2,126/mt on Thursday. Sell-off at higher prices had eroded most of these gains, however, with the light metal settling up only USD...
London Metal Exchange aluminum expects to hover between USD 2,080 to 2,120/mt today
LME aluminum climbed USD 26.5/mt or 1.28% to USD 2,098/mt on Wednesday, with an unexpected report of profits and higher-than-expected revenue by Alcoa and dropping yields of Spanish and Italian 10-year debt. Total positions plunged by 18,599 lots as shorts moved to the sidelines. Strong resistance...
Shanghai Metals Market Morning Review - 2012/4/5 Aluminum Market
Despite better-than-expected manufacturing data from China and the US, a stagnating euro zone manufacturing sector, a surge of over 10,000 mt in LME aluminum stocks and much higher-than-expected bond yields for Spanish debt again ignited risk aversion, pushing up the US dollar index while pressing...
Shanghai Metals Market Morning Review - 2012/3/30 Aluminum Market
LME aluminum closed down USD 25.8/mt or 1.19% at USD 2,143/mt on Thursday, after hitting USD 2,130/mt, a new low since January 13, with weaker-than-expected economic data from the US and slowing Chinese demand. Transactions almost doubled to 15,620 lots as short capital poured into the market. The...
Shanghai Metals Market Morning Review - 2012/3/29 Aluminum Market
LME aluminum closed down USD 26/mt or 1.18% at USD 2,168.8/mt on Wednesday, amid sharp losses in Asian equity markets and weak US and European economic data. Cautiousness towards heavy selling was seen through a slight drop of 372 lots in transactions. 8,485 contracts were traded during the day....
