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...
Grow with
AL Circle
Shanghai Metals Market Morning Review - 2012/1/17 Aluminum Market
LME three-month aluminum gained USD 22.8/mt or 1.06% overnight as impact of euro zone downgrades faded and focus is put on today’s Chinese GDP data. American markets were closed on Monday in memory of Martin Luther King. Transactions for LME aluminum therefore were down almost by half. China’s 4Q...
Shanghai Metals Market Morning Review - 2012/1/16 Aluminum Market
LME aluminum for three-month delivery dropped to an intraday low of USD 2,116/mt last Friday after Standard & Poor’s downgraded 9 euro zone countries. Better than expected Michigan University Index and leading indicators from the US came later and helped the metal narrowing loss to USD 19.3/mt or...
Shanghai Metals Market Morning Review - 2012/1/13 Aluminum Market
A further drop in China’s CPI growth and successful Spanish and Italian debt sales overnight boosted market confidence. An unexpected surge in unemployment claims later in the US to nearly 400,000, however, weakened such support. LME aluminum hit an intraday high of USD 2,197/mt overnight, but...
Shanghai Metals Market Morning Review - 2012/1/12 Aluminum Market
Despite a stalemate on solving the European debt crisis, rumors of aluminum output cuts across the globe had driven up LME aluminum a little bit on Wednesday. The metal closed overnight at USD 2,172/mt, up USD 14/mt or 0.65% from the previous trading day. Positions for the metal dropped further...
Shanghai Metals Market Morning Review - 2012/1/11 Aluminum Market
LME aluminum stocks may continue to drop as China’s cast aluminum and aluminum semis imports surged, Alcoa said to cut 12% output pressured by losses and rumors were heard more aluminum producers will cut output. Such expectation had contributed to a third successive gaining day of LME aluminum,...
Shanghai Metals Market Morning Review - 2012/1/10 Aluminum Market
Shorts successively closed their positions after the New Year’s Day holiday with a supportive SHFE/LME aluminum price ratio. Both LME aluminum stocks and cancelled warrants are declining as a result, helping aluminum prices stabilize amid volatility in other base metals. The meeting between German...
Shanghai Metals Market Morning Review - 2012/1/9 Aluminum Market
The US dollar index stood steady at 81 last Friday as worries towards European debts outweighed support from strong non-farm payroll data of the US. LME aluminum, however, gained supported by profit-taking at the tail of trading, closing USD 24.5/mt or 1.2% higher at USD 2,063.5/mt. Though the...
SMM Morning Review - 2012/1/6 Aluminum Market
The cold response to European debt added to worries towards the European debt crisis. The strong US economic employment data in contrast increased the appeal of the US dollar. As a result, the euro dipped below 1.28 against the US dollar while the latter broke through the 81 mark, removing...
Shanghai Metals Market Morning Review - 2012/1/5 Aluminum Market
LME aluminum for three-month delivery hit an intraday high of USD 2,087/mt at the tail of trading on Wednesday backed by a rebound in New York crude. The metal failed to consolidate, however, after the US dollar index returned above 80 and closed USD 4.5/mt or 0.22% lower at USD 2,059.3/mt. Its...
Shanghai Metals Market Morning Review - 2012/1/4 Aluminum Market
LME aluminum prices opened at USD 2,020/mt overnight supported by better-than-expected Purchasing Managers' Index (PMI) in China and Europe. Later, inspiring US manufacturing data and significantly weakening US dollar index helped push up LME aluminum prices to USD 2,077/mt, with prices finally...
Shanghai Metals Market Morning Review - 2011/12/30 Aluminum Market
Despite of inspiring employment and house sales data from the US, LME aluminum only rose a slight USD 2.5/mt or 0.13% to USD 1,987/mt overnight as European debt woes and high LME aluminum stocks continued weighing on the metal. Deals for aluminum are expected to remain light this last trading day...
Shanghai Metals Market Morning Review - 2011/12/29 Aluminum Market
LME aluminum opened at USD 2,016/mt and closed 1.72% or USD 34.8/mt lower at USD 1,984/mt on Wednesday as optimism disappeared among in European asset investors, due to climbing Italian debt yields, remaining weak Chinese demand, the weakening Euro and the Strengthening US dollar. The metal saw the...
Shanghai Metals Market Morning Review - 2011/12/28 Aluminum Market
Support from the strong consumer confidence in the US was weakened by mixed manufacturing data. Further more, closely followed Christmas Day and New Year’s Day have kept most investors on the sidelines, thereby depressing transaction volumes. As such, SMM expects LME aluminum to move narrowly...
Shanghai Metals Market Morning Review - 2011/12/26 Aluminum Market
Despite of inspiring durable goods orders and new home sales data from the US, LME aluminum for three-month delivery closed USD 2.3/mt or 0.11% lower at USD 2,018.8/mt last Friday, as the US dollar index stayed high at 80 and most investors stood on the sidelines due to the nearing of Christmas....
Shanghai Metals Market Morning Review – 2011/12/23 Aluminum Market
More shorts closed their LME aluminum positions overnight after inspiring economic data streamed out from the US, with total LME aluminum positions plunging 24,500 lots to the level a month earlier. This had supported a strong rebound in LME aluminum, which closed USD 22/mt or 1.1% at USD 2,021/mt,...
Shanghai Metals Market Morning Review - 2011/12/22 Aluminum Market
While the much more than expected 489 billion euro loan from ECB overnight helped euro rebound, LME aluminum only hit USD 2,019/mt due to surging stocks. Further more, investors’ doubts whether such move can solve the European debt crisis and weaker than expected US existing home sales and euro...
Shanghai Metals Market Morning Review - 2011/12/21 Aluminum Market
Supported by strong economic data from Germany and the US as well as better than expected Spanish bond auction results, the Euro rebounded and the US dollar index slipped below 80 overnight. Despite of successive surges in stocks, LME aluminum returned to above USD 2,000/mt after climbing 1.48% to...
Shanghai Metals Market Morning Review – 2011/12/20 Aluminum Market
Worries towards the euro zone debt crisis led to a struggle of the euro at 1.3 US dollar and in contrast helped the US dollar index consolidate above 80. As Christmas nears, more investors chose to close their positions on risk concerns. Due to weak consumption, the LME aluminum stock surged...
