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 - 2012/2/23 Aluminum Market
LME three-month aluminum firstly dipped to a low of USD 2,243/mt but closed USD 27.5/mt or 1.22% higher at USD 2,243/mt on Wednesday, supported by climbing oil prices due to the Iran issue, strong US home sales data and a return of LME cancelled warrants to above 30% of total. SMM expects LME...
Shanghai Metals Market Morning Review - 2012/2/22 Aluminum Market
LME three-month aluminum broke through the 5-day moving average and closed up USD 58.3/mt or 2.66% at USD 2,250.3/mt on Tuesday, supported by the second Greek bailout. Transactions increased 8,027 lots to 13,231 lots. SMM expects LME three-month aluminum to stay above USD 2,200/mt and move between...
Shanghai Metals Market Morning Review - 2012/2/21 Aluminum Market
A reserve ratio cut by China’s central bank last Saturday and optimism towards the second Greek bailout helped strengthen the euro, which in turn led to a higher opening price of LME three-month aluminum futures on Monday. The metal quickly pared gains, however, and closed up USD 38.8/mt or 1.8% at...
Shanghai Metals Market Morning Review - 2012/2/20 Aluminum Market
LME three-month aluminum hit a low of USD 2,150/mt and closed down USD 21.5/mt or 0.99% at USD 2,153.3/mt last Friday, as investors were still skeptical towards the second Greek bailout. Latest SHFE aluminum stocks increased 2,675 mt to 5,120,650 mt while total positions climbed 1,054 lots to...
Shanghai Metals Market Morning Review - 2012/2/16 Aluminum Market
Euro zone Finance Ministers said overnight they were disappointed by Greece’s lack of determination to implement its austerity plan and decided to postpone voting for the second round of Greek bailout until next Monday, adding to investor worries towards the euro zone and pushing the US dollar...
Shanghai Metals Market Morning Review - 2012/2/15 Aluminum Market
Even though LME aluminum stocks surged again by 49,900 mt to 5.11 million mt as the delivery date nears, US retails sales in January came out far below expected and investors still hold worries towards the Greek austerity plan, which helped the US dollar index consolidate at 79, LME three-month...
Dry-Processed Aluminum Fluoride Prices Down RMB 100/mt
According to a recent SMM survey, domestic dry-processed aluminum fluoride prices fell by RMB 100/mt following the Chinese New Year holiday, with current mainstream traded prices between RMB 9,400-9,600/mt. SMM believes there are two reasons behind lower dry-processed aluminum fluoride prices after...
Shanghai Metals Market Morning Review - 2012/2/13 Aluminum Market
Resistance from extreme right wing leaders on the new austerity plan in Greece last Friday again ignited investor worries towards a Greek default, pushing the US dollar index back above 79 and leading to short selling for commodities and stocks. LME aluminum for three-month delivery hit an intraday...
Shanghai Metals Market Morning Review - 2012/2/9 Aluminum Market
LME three-month aluminum initially hit USD 2,299/mt on Wednesday but closed down USD 3.5/mt or 0.16% at USD 2,251.5/mt due to worries towards worsening of the Greek debt crisis. LME aluminum stocks climbed further overnight, by over 10,000 mt to above 5.03 million mt, a record high. While demand...
Shanghai Metals Market Morning Review - 2012/2/8 Aluminum Market
The euro rebounded overnight, dragging the US dollar index to 78.488, a two-month low, as investors held high hopes for Greek debt talks. LME aluminum initially struggled at USD 2,200/mt and hit USD 2,264/mt supported by short covering after Fed President Bernanke said manufacturing recovery was...
Aluminum Products Export Dropped 8.7% Month-on-month in Dec. China
In recent days according to China Customs that in Dec. China aluminum products export increased 9.8% yoy while decreased 8.7% month on month. In December totally export 210 thousand tons aluminum products, aluminum profiles export 73.8 thousand tons increased 63.4% yoy; 76.9 thousand tons of...
Shanghai Metals Market Morning Review - 2012/2/6 Aluminum Market
LME aluminum for three-month delivery closed USD 45.5/mt higher at USD 2,255.5/mt last Friday after US new jobs and unemployment rate came out better-than-expected. The metal initially dropped to near USD 2,200/mt before US jobs data came out. Despite of debt woes in Europe, strong US jobs data...
Shanghai Metals Market Morning Review - 2012/2/3 Aluminum Market
LME three-month aluminum contract initially dropped below USD 2,200/mt and net positions of the contract lost 28,000 lots due to profit taking by longs ahead of release of the latest US non-farm payroll data. The metal narrowed losses at the tail of trading with bargain hunting and closed down USD...
Shanghai Metals Market Morning Review - 2012/2/2 Aluminum Market
Gains in January manufacturing indexes of China, Europe and the US boosted market confidence and in turn dragged the US dollar index below 79 overnight, helping LME aluminum breaking through the 5-day moving average and closing USD 23/mt or 1.02% higher at USD 2,271/mt. Total positions for the...
Shanghai Metals Market Morning Review - 2012/2/1 Aluminum Market
LME aluminum for three-month delivery opened at USD 2,280/mt and hit USD 2,310/mt supported by gains in oil prices during initial trading on Tuesday. The metal dropped and closed down 1.15% at USD 2,248/mt, however, after US home and manufacturing data came out missing expectations and causing more...
Shanghai Metals Market Morning Review - 2012/1/31 Aluminum Market
LME aluminum previous dipped to an intraday low of USD 2,223/mt on Monday due to European debt worries. Bargain hunting by longs helped the metal return above the 5-day moving average and close USD 5.8/mt or 0.25% higher at USD 2,274.3/mt despite the US dollar’s index’s return to above the 79 mark....
Shanghai Metals Market Morning Review – 2012/1/19 Aluminum Market
LME aluminum market overnight opened at USD 2,217/mt due to favorable debt auctions by Spain and positive economic data in the US. During the session, LME aluminum prices dropped to USD 2,190/mt, but later were supported by the news that Greek debt talks will resume. Finally, LME aluminum market...
Shanghai Metals Market Morning Review - 2012/1/18 Aluminum Market
Better than expected Chinese GDP data, strong performance of the German economy and inspiring Spanish debt sales together overshadowed downgrades of euro zone countries, pulling down the US dollar index and helping the euro rebound. LME aluminum surged 2.52% as a result of above development closing...
