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 - 2011/12/19 Aluminum Market
The US dollar index dropped below 80 last Friday after the latest CPI date showed US inflation pressure stabilized in November. Investors’ risk appetite stayed depressed, however, amid concerns of possible downgrades for European countries. LME aluminum only gained USD 17/mt or 0.86% at USD...
Shanghai Metals Market Morning Review - 2011/12/16 Aluminum Market
The US dollar index dropped to the 80 mark overnight with falling debt yields of Spain and much better than expected new jobless claims in the US which dropped to a new low since May 31st, 2008. Due to contracted transactions, LME aluminum gained only USD 20/mt or 1.02% when closing at USD...
Shanghai Metals Market Morning Review - 2011/12/15 Aluminum Market
Contracted manufacturing activities in the euro zone added to investor worries towards the region’s debt crisis, which on the other hand helped the US dollar index climb to 80.73 and in the meanwhile weighed on commodities as investors sold risk assets at hand. As such, LME aluminum lost USD 41/mt...
China Alumina Imports Increase Significantly in 4Q 2011
According to China Customs, China imported 230,000 mt of alumina during November, down 16% YoY. Total alumina imports from January to November were 1.68 million mt, down 57% YoY. China’s alumina imports fell continuously in the first three quarters of 2011, but began to grow noticeably in 4Q 2011....
Shanghai Metals Market Morning Review - 2011/12/14 Aluminum Market
News overnight were almost all negative. For instance, the LME aluminum stock surged again by almost 100,000 mt overnight to a new record, Germany prime minister rejected expansion of the 500 billion euro EMS loan agreement and the Fed maintained its interest rates and provided no stimulus plan....
November Operating Rates at Aluminum Profile Producers up Slightly
According to a recent SMM survey of 29 aluminum producers with capacity totaling 1.43 million mt/yr, operating rates at these producers were 68.34% during November, up 2.46% from October. The survey revealed that operating rates at large producers were up slightly to 71.64%, operating rates at...
Shanghai Metals Market Morning Review - 2011/12/13 Aluminum Market
The market optimism cooled overnight after the EU summit failed to provide a practical solution for the region’s debt crisis. The US dollar index climbed to 79.653 as a result of haven seeking, thereby weighing on commodities. The LME aluminum stock surged further by over 120,000 mt to a record...
Shanghai Metals Market Morning Review - 2011/12/12 Aluminum Market
China’s CPI growth continued to drop but industrial output contracted as well, according to data released last Friday. Euro zone countries struck a uniformed fiscal agreement during the day’s EU summit, which helped ease investors’ worries. Such ease, however, was discounted due to a lack of...
Shanghai Metals Market Morning Review - 2011/12/9 Aluminum Market
A rate cut and a negative outlook for the European economy from the European Central Bank had sent LME aluminum to a lowest USD 2,045/mt overnight. The metal narrowed losses with a technical correction and finally closed at USD 2,060/mt, down USD 20/mt or 0.95% from the previous trading day. Total...
Shanghai Metals Market Morning Review - 2011/12/8 Aluminum Market
Standard & Poor’s negative outlook for the European Union and investors’ pessimism towards the euro zone debt crisis further weakened the euro against the US dollar, with the US dollar index strengthening again. As such, LME aluminum closed USD 30/mt lower at USD 2,080/mt overnight. Positions for...
SMM Morning Review - 2011/12/7 Aluminum Market
LME aluminum was pressured at the 30-day moving average during initial trading hours as Standard & Poor’s downgrade warning for euro zone countries weighed on metals. The market sentiment slight improved later after German manufacturing data came out better-than-expected, which helped LME aluminum...
Shanghai Metals Market Morning Review - 2011/12/6 Aluminum Market
LME aluminum rebounded from below USD 2,100/mt overnight after Italy approved its new austerity plan and France and Germany proposed adjustment for the EU treaty so that an effective bailout plan can be reached during the EU summit this weekend. The rebound met pressure from weak US manufacturing...
Shanghai Metals Market Morning Review - 2011/12/5 Aluminum Market
The U.S. non-farm payroll data came out better-than-expected last Friday, helping the U.S. dollar index climbing 0.361 points to 78.665. LME aluminum continued to move within a narrow range last Friday. The metal opened at USD 2,130/mt and closed near USD 2,120/mt. Due to the strengthening U.S....
Shanghai Metals Market Morning Review - 2011/12/2 Aluminum Market
Significantly contracted manufacturing activities in September’s China and euro zone weakened support from a reserve requirement cut by China central bank on the previous day. Better-than-expected manufacturing index from the U.S. alone did not provide much comfort for investors, with the U.S....
Shanghai Metals Market Morning Review - 2011/12/1 Aluminum Market
The U.S. Fed together with the European Central Bank and other 4 large central banks made a joint statement on November 30th to lower U.S. dollar swap prices by 50 basis points and to take measures to provide liquidity for financial markets. Meanwhile, China’s central bank said to lower bank...
Shanghai Metals Market Morning Review - 2011/11/30 Aluminum Market
Data from the U.S. Conference Board shows the country’s Consumer Confidence Index has climbed to 56, a seven-month high in November. LME aluminum failed to receive much support from such data, however, due to a strong wait-and-see sentiment caused by weak aluminum demand. The metal closed USD 31/mt...
Shanghai Metals Market Daily Review - 2011/11/28 Base Metals Market
The most active SHFE aluminum contract 1202 opened at RMB 15,835/mt and closed at RMB 15,830/mt, up RMB 20/mt or 0.13%. Positions of the contract increased 1,910 lots to 89,096 lots. SMM expects the contract to struggle near the mark and may slip little bit lacking support. Traded prices of spot...
Shanghai Metals Market Morning Review - 2011/11/29 Aluminum Market
News said on November 28th that European leaders will propose a new solution for the region’s debt crisis and IMF may provide Italy with 400-600 billion euro of financial aid. Meanwhile, U.S. National Retail Federation data show retail sales during this year's Thanksgiving Day surged 16% from last...
