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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SMM Morning Review - 2011/10/28 Aluminum Market
The EU Summit on Wednesday did not disappoint investors, with a series of bailout plans being reached. Supported by the inspiring news, the Euro surged over 2.5%, with the US dollar index dropping below 75. LME aluminum broke through the USD 2,250 resistance level of previous two trading days and...
SMM Morning Review - 2011/10/27 Aluminum Market
Positive news overnight include China said to fine regulate its macro economy at times appropriate, better-than-expected durable goods and new home sales data from the US, and that the German parliament approved the EFSF expansion plan, which helped metals prices surge. However, arguments over aids...
SMM Morning Review - 2011/10/25 Aluminum Market
The surge in LME aluminum prices continued overnight amid lasting optimism towards the EU Summit solution this Wednesday, positive China PMI data in October and rumors that China will ease its monetary policies. The metal closed 3.95% higher at USD 2,217.3/mt as a result. Total positions of the...
SMM Brief Review - 2011/10/24 SHFE Aluminum Futures
The most active SHFE 1112 aluminum contract gapped higher at RMB 16,390 on October 24th, and surged 2.9% in the afternoon to an intraday high of RMB 16,700/mt. The contract trimmed gains later, however, and finally closed at RMB 16,560/mt, up RMB 330/mt or 2.03% from previous trading day. Positions...
SMM Aluminum Price Forecast (Oct. 24-28)
Aluminum inventories monitored by SHFE surged by 40,000 mt following China’s National Day holiday due to the approaching delivery date and weak consumption, taking inventories which fell to a record low since February 2008 before the holiday to above 100,000 mt. SHFE three-month aluminum contract...
SMM Morning Review - 2011/10/21 Aluminum Market
The market panic continued overnight amid EU summit delay possibilities, bearish remarks from German finance minister on leveraging EFSF, and disappointing euro zone confidence index, US employment data and Philadelphia Fed manufacturing data etc. LME aluminum once dropped to USD 2,078/mt, a new...
SMM Daily Review - 2011/10/18 Aluminum Market
The most active SHFE 1112 aluminum contract gapped lower at RMB 16,570/mt on October 18th after Germany denied a final solution deadline for the euro zone debt crisis. Due to strong short selling, the contract plunged over 2% to RMB 16,320/mt after its opening, and narrowed losses with...
SMM Morning Review - 2011/10/19 Aluminum Market
Since China’s GDP growth during the third quarter stayed high above 9%, its tight monetary policies are expected to continue until the CPI growth drops below 6%. This will add to the already strong capital pressure among Chinese businesses, which in turn will lead to a weaker Chinese demand for...
SMM Morning Review - 2011/10/18 Aluminum Market
The global market sentiment turned bearish again after Germany denied the final solution deadline and the New York Fed said October manufacturing activities contracted for a fifth straight month. The US dollar index again returned to above 77. After hitting an intraday high of USD 2,256.5/mt, LME...
SMM Morning Review - 2011/10/13 Aluminum Market
Expectations for China to loosen monetary policies towards medium-to-small businesses led to a strong rebound in Shanghai Composite Index on October 12th, with the index ending with the largest daily gain of the year. Investors’ optimism towards the European debt crisis also strengthened on...
Operating Rates at Aluminum Profile Producers in September Unchanged at 71.42%
According to a recent SMM survey of domestic 20 aluminum profile producers with total capacity of 1.15 million mt/yr, overall operating rates were 71.42% during September, generally flat with August level. The survey reveals that operating rates at medium and large producers remained at about 70%...
SMM Brief Review - 2011/10/10 SHFE Aluminum Futures
The most active SHFE 1112 aluminum contract opened higher at RMB 16,600/mt on October 10th following LME copper’s gains in the holiday period. After hitting RMB 16,700/mt in the afternoon with position increases among both longs and shorts, the contract finally closed at RMB 16,675/mt, up RMB...
SMM Aluminum Price Forecast (Oct. 10-14)
Long investors exited the market before China’s National Day holiday due to weak macro economic conditions, and SHFE aluminum prices fluctuated widely last week due to strong short selling pressures. SHFE three-month aluminum contract prices fell below RMB 16,000/mt for the first time in 2011 on...
SMM Morning Review - 2011/10/10 Aluminum Market
Though China and the US reported some improving economic data during the Chinese National Day holiday period, the global economic recovery remained out of sight. Investors’ pessimism towards the global economy therefore only saw slight comfort. In the contrary, the spreading and worsening debt...
SMM Morning Review - 2011/9/30 Aluminum Market
German parliament approved the EFSF expansion overnight, boosting investors' optimism over the second bailout fund for Greece. US new unemployment claims dropped below 400,000 unexpectedly to a 5-month low. The country’s 2Q GDP growth was also revised upward. As a result, investor worries towards a...
SMM Brief Review - 2011/9/29 SHFE Aluminum Futures
The most active SHFE 1112 aluminum contract gapped over 2% lower at RMB 16,160/mt on September 29th due to reignited investor worries towards a default by Greece. The contract was pressed to an intraday low of RMB 16,020/mt by increased short selling during early trading hours, but rebounded later...
SMM Morning Review - 2011/9/29 Aluminum Market
Investors’ worries towards the European debt crisis soared again overnight due to divisions among European leaders on efforts to prevent Greece from bankruptcy . Later, the US Department of Commerce said August durable goods orders fell unexpectedly by 0.1% from July, which followed slips in...
SMM Brief Review - 2011/9/28 SHFE Aluminum Futures
The most active SHFE 1112 aluminum contract opened higher at RMB 16,630/mt on September 28th, and stood steady at the 5-day moving average in the morning supported by profit-taking by the shorts. In the afternoon, after Shanghai Composite Index dipped below the 2,400 mark, increased short selling...
