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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Shanghai Metals Market Morning Review - 2012/3/28 Aluminum Market
LME aluminum settled USD 4.8/mt or 0.22% higher at RMB 2,194.8/mt on Tuesday, as investors confidence cooled following a rebound of the US dollar index to above 79 and as US consumer confidence index came out almost in line with expectation. Profit-taking by shorts still was the major driver of...
Shanghai Metals Market Morning Review - 2012/3/27 Aluminum Market
Following a four-day loss, LME aluminum added USD 15/mt or 0.69% settling at USD 2,190/mt on Monday, after Fed President’s signal to maintain low interest rates dragged the US dollar index below 79. Transactions dropped to 7,805 lots, however, reflecting inadequate confidence. SMM expects LME...
Shanghai Metals Market Morning Review - 2012/3/26 Aluminum Market
LME aluminum closed down at USD 2,175/mt last Friday, after paring losses with a weakening US dollar. Volatile aluminum inventories, however, had limited the metal’s ability to recover losses. Transacted contracts dropped 7,947 lots to 12,590 lots. SMM expects LME aluminum to open at USD 2,180/mt...
Shanghai Metals Market Morning Review - 2012/3/22 Aluminum Market
LME three-month aluminum plunged USD 41.5/mt or 1.84% overnight to USD 2,212.5/mt after stocks climbed a further 6,825 mt to 5,088,775 mt and US home sales data for February came out missing expectations. Positions for the light metal surged 14,600 lots. Slow Chinese consumption and hampered US...
China Aluminum Output Grows Faster than Consumption in 2011
Aluminum Corp. of China Ltd. (CHALCO) released 2011 earnings report on March 17. According to the report, China’s primary aluminum output was about 19.45 million mt in 2011, up 24.3% YoY, while China’s primary aluminum consumption was about 19.50 million mt, up 15.4% YoY, with output growth faster...
Shanghai Metals Market Morning Review - 2012/3/21 Aluminum Market
LME aluminum closed down USD 25/mt or 1.1% at USD 2,254/mt after founding its low at USD 2,237/mt. The metal moved mainly against the US dollar index, which climbed but fell later. Latest LME aluminum stocks surged 13,000 mt to 5,081,950 mt. While the Greek debt crisis has temporarily eased and US...
Shanghai Metals Market Morning Review - 2012/3/20 Aluminum Market
LME three-month aluminum closed at USD 2,281/mt, a recent high on Monday as progress in Greek debt strengthened the euro to boost investor confidence. 8,713 lots of contracts were transacted while positions dropped 3,406 lots to 722,042 lots. LME aluminum stocks stayed above 5 million mt, though....
Shanghai Metals Market Morning Review - 2012/3/19 Aluminum Market
LME three-month aluminum closed down USD 6/mt at USD 2,260/mt last Friday, with positions decreasing 1,212 lots to 725,448 lots, as the US failed to continue delivery of positive economic data and due to the staying weak Chinese consumer market. While resistance was strong at the 20-day moving...
Shanghai Metals Market Morning Review - 2012/3/16 Aluminum Market
LME three-month aluminum returned above the 30-day moving average closing up USD 27/mt or 1.21% at USD 2,254/mt on Thursday, as latest and better-than-expected US unemployment claims and manufacturing data beat estimates to boost confidence for the US economy. SMM expects LME three-month aluminum...
Shanghai Metals Market Morning Review - 2012/3/15 Aluminum Market
LME three-month aluminum futures closed down USD 28/mt or 1.24% at USD 2,227/mt on Wednesday as China’s signal to maintain property curb boosts dollar buying and weighs on base metals. The light metal lost all previous-day gains after losing support at the 5-day moving average. China’s property...
Shanghai Metals Market Morning Review - 2012/3/13 Aluminum Market
China’s first-in-ten-year trade deficit in February reported by General Administration of Customs added to worries towards a China slowdown. Commodity investors were mostly standing on the sidelines though, waiting for results of Fed interest rate meeting. Consequently, LME three-month aluminum...
Shanghai Metals Market Morning Review - 2012/3/9 Aluminum Market
LME three-month aluminum closed at USD 2,213/mt on Thursday, little changed from the previous trading day as a surge of 10,050 mt in stocks offset support from optimism towards the Greek debt-swap. Strong support at the USD 2,200/mt mark showed, however, after the contract slipped for a fifth...
Shangai Metals Market Morning Review - 2012/3/1 Aluminum Market
LME three-month aluminum hit a high of USD 2,356/mt on Wednesday supported by European Central Bank’s capital injection and better-than-expected US economic data. The metal dropped below the USD 2,300/mt mark later, as Fed president Bernanke implied no more quantitative easing in the near term to...
Shangai Metals Market Morning Review - 2012/2/29 Aluminum Market
LME three-month aluminum ended positively for a seventh consecutive trading day on Tuesday, closing USD 9/mt or 0.39% higher at USD 2,327/mt as positive expectations for ECB refinancing operation and improving US consumer confidence in February beat a contraction in US durable goods orders in...
Shanghai Metals Market Morning Review - 2012/2/28 Aluminum Market
Following the G20 failure to reach an agreement on euro zone aid and the drop of New York crude from a recent high, LME three-month aluminum closed down slightly by USD 3.3/mt or 0.14% at USD 2,318/mt on Monday. The metal only hit USD 2,339/mt with the help of better than expected US pending home...
Shanghai Metals Market Morning Review - 2012/2/27 Aluminum Market
LME three-month aluminum surged USD 47.3/mt or 2.08% last Friday to USD 2,321/mt, a record high since September 21, 2011, backed by strong short covering with a rebound in euro and New York crude’s marching towards USD 110/bbl. Positions of the contract dropped 2,538 lots while transacted contracts...
China Aluminum Output Grows Slower in 2011
China’s National Bureau of Statistics issued the Statistical Communiqué of the People's Republic of China on the 2008 National Economic and Social Development (Communiqué) on February 22. According to the Communiqué, China’s aluminum output was 17.68 million mt during 2011, up 12.1% YoY, while...
Shanghai Metals Market Morning Review - 2012/2/24 Aluminum Market
Even though stabilized US new unemployment claims and climbing crude prices provided support, European Commission’s pessimistic economic forecasts, which expect euro zone GDP to contract 0.3% and EU GDP to see zero growth in 2012, still induced USD 3.8/mt or 0.16% of loss in the LME three-month...
