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 - 2011/9/28 Aluminum Market
The active efforts by European leaders to seek solutions for a highly possible default by Greece helped calm investors overnight. Though later announced September Consumer Confidence Index in the US missed market expectation and indicated difficulties for consumer market to improve, the US dollar...
SMM Daily Review - 2011/9/23 Aluminum Market
Most active SHFE 1112 aluminum contract gapped lower by over 2% at RMB 16,705/mt on September 23rd due to plunges in global financial markets overnight. The contract slipped slightly in the morning, and fell to a stop with other base metals contracts in the afternoon due to an inrush of short...
SMM Brief Review - 2011/9/23 SHFE Aluminum Futures
Most active SHFE 1112 aluminum contract gapped lower by over 2% today at RMB 16,705/mt due to plunges in global financial markets overnight. The contract slipped slightly in the morning, and fell to a stop in the afternoon with other base metals contracts due to an inrush of short capital. It...
East China Aluminum: Spot Price Plunges, Downstream Stock Building Seen
Traded prices of spot aluminum in Shanghai were between RMB 17,050-17,090/mt on September 23rd, with premiums of RMB 80-150/mt over SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 17,100-17,140/mt. Traded prices of spot aluminum in Wuxi were between RMB 17,040-17,080/mt....
SMM Daily Review - 2011/9/22 Aluminum Market
Most active SHFE aluminum contract was changed to 1112 on September 22nd, and opened lower at RMB 17,005/mt in the morning. The contract dropped to an intraday low of RMB 16,860/mt later due to falling stock prices and strengthening US dollar, and finally closed at RMB 16,980/mt, down RMB 120/mt or...
SMM Morning Review - 2011/9/23 Aluminum Market
Investors sold off their assets in panic overnight due to weak manufacturing data and debt aid discrepancies in Europe and disappointing jobs data and pessimistic Fed economic remarks in the US, with the US dollar index climbing to an intraday high of 78.798 and LME aluminum plunging with...
SMM Daily Review - 2011/9/21 Aluminum Market
Most active SHFE 1111 aluminum contract opened lower at RMB 17,155/mt on September 21st, and rebounded later with climbing Shanghai stock prices to broke through the 5-day moving average. The contract remained strong in the afternoon, and finally closed at RMB 17,290/mt, up RMB 115/mt or 0.67% from...
SMM Morning Review - 2011/9/22 Aluminum Market
After US Fed launched its USD 400 billion operation twist to buy in long-term debt and sold out short-term debt, which hugely damped investor confidence, the Dow Jones Industrial Average index plunged 2.5%. US crude oil prices also plummeted, with the crude contract for delivery in November falling...
SMM Daily Review - 2011/9/20 Aluminum Market
Most active SHFE 1111 aluminum contract opened lower at RMB 17,120/mt on September 20th and stabilized in the morning following a plunge during previous trading day. The contract hit an intraday high of RMB 17,225/mt in the afternoon, but fluctuated downward later due to strong resistance at the...
SMM Morning Review - 2011/9/21 Aluminum Market
Base metals remained weak on Tuesday. Latest global economic outlook report by IMF lowered US economic growth forecast. US President Obama’s USD 447 billion job plan and USD 3 trillion deficit cut plan will not provide significant confidence for the market in the short term. Market focus will be...
SMM Brief Review - 2011/9/20 SHFE Aluminum Futures
Most active SHFE 1111 aluminum contract opened lower at RMB 17,120/mt on September 20th, and stabilized in the morning following a plunge during previous trading day. The contract hit an intraday high of RMB 17,225/mt in the afternoon, but fluctuated downward later due to strong resistance at the...
SMM Daily Review - 2011/9/19 Aluminum Market
Most active SHFE 1111 aluminum contract gapped lower at RMB 17,100/mt on September 19th due to aggressive short selling, and climbed to an intraday high of RMB 17,290/mt during initial trading hours on profit taking by the shorts. After the longs were forced to exit due to worries towards a...
SMM Morning Review - 2011/9/20 Aluminum Market
A lack of breakthrough from European finance ministers on Greek aid, a downgrade of Italy debt rating to a negative outlook and a weaker than expected September house market index in the US all added to the bearish sentiment among investors overnight, with stock and base metals prices plunging and...
Brief Review - 2011/9/19 SHFE Aluminum Futures
Most active SHFE 1111 aluminum contract gapped lower at RMB 17,100/mt today due to aggressive short selling, and climbed to an intraday high of RMB 17,290/mt during initial trading hours on profit taking by the shorts. After the longs were forced to exit by worries towards a downgrade on Italy debt...
SMM Aluminum Price Forecast (Sept. 19-23)
Following China’s Mid-Autumn Festival holiday, SHFE 1111 aluminum contract prices rebounded after falling initially to RMB 17,250/mt, but still faced strong pressure at RMB 17,400/mt due to a lack of long momentum. Market sentiment was sluggish following the holiday due to European debt woes, and...
SMM Daily Review - 2011/9/16 Aluminum Market
Most active SHFE 1111 aluminum contract opened slightly higher at RMB 17,385/mt on September 16th. After hitting an intraday high of RMB 17,405/mt at the beginning of trading, the contract quickly slipped on profit taking by the longs with positions dropping by 3,758 lots, and finally closed at RMB...
SMM Morning Review - 2011/9/19 Aluminum Market
Despite a better-than-expected September Consumer Confidence Index released by the University of Michigan on September 16th, huge discrepancies on economic woes in the euro zone as exposed among European finance ministers during the meeting on the same day still boosted investors’ risk aversion...
SMM Daily Review - 2011/9/15 Aluminum Market
After opening slightly lower at RMB 17,300/mt, most active SHFE 1111 aluminum contract climbed slightly to an intraday high of RMB 17,385/mt in the morning with weakening short momentum and longs entering the market at lower prices. In the afternoon, after Shanghai Composite Index erased earlier...
