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 - 2011/11/28 Aluminum Market
Italian bond yields surged to new highs last Friday. Standard & Poor’s downgraded Belgium’s debt rating and offered a negative outlook for the country. Mounting worries towards the European debt crisis caused a continuous slip in the Euro while the US dollar index surged to 79.702 supported by its...
SMM Morning Review - 2011/11/24 Aluminum Market
HSBC’s November China PMI contracted unexpectedly. Demand was weak at major consumption countries. Disappointing results of German bond sales added to worries that the Euro zone debt crisis is spreading into core countries of the region. As a result, investors sold their commodities to buy the...
Metal Prices to Fall Further on US, European Debt Fears
LME base metals prices continued to fall.Shanghai metal prices seemed to stabilize, but there is still a possibility that metal prices will fall further in the short term since US and European stocks plummeted again yesterday. Fears of US and European debt issues and expectations of a slowdown of...
SMM Morning Review - 2011/11/23 Aluminum Market
LME aluminum previously climbed and hit an intraday high of USD 2,102/mt overnight after rating agencies successively confirmed their ratings for the U.S. However, a downward adjustment for the U.S. GDP during the third quarter added to the slightly bearish market sentiment, which trimmed gains of...
SMM Morning Review - 2011/11/22 Aluminum Market
The European debt crisis has shown signs of spreading to France and Germany. Meanwhile, the US super committee said they failed to reach a deficit-cutting agreement for at least USD 1.2 trillion. Though major credit rating agencies said this will not affect their ratings for the US, investor...
Shanghai Metals Market Morning Review - 2011/11/21 Aluminum Market
Spanish and Italian debt yields dropped last Friday, which was believed to be caused by bond purchases by the European Central Bank. The Conference Board Leading Economic Index released later grew 0.9%, which was more market expected, thereby alleviating worries towards the European debt crisis....
Shanghai Metals Market Morning Review - 2011/11/18 Aluminum Market
Nearly 7% yields for Spanish debt and a 0.5 percentage point surge in French 2-year and 4-year debt overnight may indicate that the European debt crisis is spreading from peripheral countries to core countries of the Euro zone. Selling for commodities accelerated as investors’ risk aversion...
Shanghai Metals Market Morning Review - 2011/11/17 Aluminum Market
Investor worries towards contagion of the European debt crisis continued to weigh on global markets. Later released October industry output and NAHB housing market index growth beat market expectations, which helped weaken the bearish market sentiment. LME aluminum previously dipped to the intraday...
SMM Morning Review - 2011/11/16 Aluminum Market
The worsening European debt crisis as reflected to surging debt yields and a spread to Spain and positive US economic data pushed the US dollar index to 78 again overnight, damping longs’ confidence and thereby dragging down LME aluminum by USD 24.8/mt or 1.14% to USD 2,140.3/mt. Total positions...
Shanghai Metals Market Morning Review - 2011/11/15 Aluminum Market
Though a change of government in Italy and Greece helped ease investor worries towards the European debt crisis, the record high bond yield in Italy overnight and veto of Greek opposition party towards the country’s austerity plan reignited investors worries, with the US dollar index rebounding to...
SMM Morning Review - 2011/11/11 Aluminum Market
Weak overseas demand narrowed China’s trade surplus in October. The Italian debt issue was continuously weighing on global markets. Good news were that US new unemployment claims dropped to 390,000, a seven-month low, for the week ending on November 5th and Standard & Poor’s denied rumors that...
SMM Morning Review - 2011/11/10 Aluminum Market
Mounting investor worries towards debt woes of Italy had pushed yield of Italian public debt to 7.502% overnight, a new high since establishment of the Euro zone. A selling wave for the Euro and commodities also started. The US dollar index, supported by increased haven demand, surged to the 78...
SMM Morning Review - 2011/11/9 Aluminum Market
The Italian parliament approved the country’s budget plan for 2012 overnight. The country’s Prime Minister Berlusconi failed to win a majority of votes, and said later that he would resign after austerity measures pledged to the European Union were approved. This eased investor worries towards...
SMM Morning Review - 2011/11/8 Aluminum Market
The worsening debt issues of Greece and Italy have been continuously dampening market confidence. The meeting of European finance ministers did not present any breakthrough either. LME aluminum closed USD 11.3/mt or 0.53% lower at USD 2,125/mt overnight due to short selling at the tail of trading....
Shanghai Metals Market Morning Review - 2011/11/1 Aluminum Market
Japan’s US dollar buying move to curb appreciation of the Japanese Yen and investor doubts towards settlement of details for the EU deal struck at the latest EU Summit had forced the euro to erase previous gains, which in turn pushed the US dollar index to above 76.5% with a nearly 2% gain. Base...
Shanghai Metals Market Morning Review - 2011/10/31 Aluminum Market
Cautiousness prevailed among investors last Friday as details of the European bailout agreement had yet to be determined. As a result, LME aluminum ended its five-day gain during the day and finally closed USD 13/mt or 0.58% lower at USD 2,245/mt. Traded volumes during the day contracted to near...
Shanghai Metals Market Brief Review - 2011/10/28 SHFE Aluminum Futures
The most active SHFE 1201 aluminum contract opened higher at RMB 16,570/mt on October 28th following an overnight surge in LME aluminum prices. The contract hit an intraday high of RMB 16,680/mt earlier in the day. However, as support from the EU deal has already been consumed and gains during the...
SMM Brief Review - 2011/10/28 SHFE Aluminum Futures
The most active SHFE 1201 aluminum contract opened higher at RMB 16,570/mt on October 28th following an overnight surge in LME aluminum prices. The contract hit an intraday high of RMB 16,680/mt earlier in the day. However, as support from the EU deal has already been consumed and gains during the...
