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 Brief Review - 2011/9/16 SHFE Aluminum Futures
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 - 2011/9/16 Aluminum Market
The US Department of Labor said on September 15th that August Consumer Price Index rose 0.4 percent from previous month with a growth doubling estimates, indicating speeding up inflation. New unemployment claims during the week ended on September 10th surged unexpectedly to 428,000. Later announced...
SMM Morning Review - 2011/9/15 Aluminum Market
After credit rating agency Moody’s downgraded two large French banks on September 14th, market worries towards the European debt crisis further grew. This was followed by EU Committee President Barroso’s remarks to speed up introduction of euro zone bonds in a bid to comfort investors. Meanwhile,...
SMM Morning Review - 2011/9/14 Aluminum Market
Investor worries caused by debt crisis in Greece and Italy overnight were relieved by surging share prices of France’s biggest banks BNP Paribas and Societe Generale, with the euro rebounding to help European and US stock prices close higher. The US dollar index fell 0.27% to 77.059 as a result....
SMM Morning Review - 2011/9/13 Aluminum Market
Worsening debt crisis and bailout discrepancy in Europe, combined with market doubts over approval of US President Obama’s job act in the Congress again caused risk aversion sentiment to burn in the market, with the euro plunging and the US dollar index stabilizing at 77. European and U.S. stock...
SMM Aluminum Price Forecast (Sept. 13-16)
SHFE 1111 aluminum contract prices fell at first but rebounded later in the week, with mainstream prices moving between RMB 17,200-17,450/mt and facing strong pressure from the 30-day moving average. Power shortages in southwest China are becoming more severe in September, and aluminum producers in...
SMM Brief Review - 2011/9/13 SHFE Aluminum Futures
Most active SHFE 1111 aluminum contract opened lower at RMB 17,430/mt on the first trading day following China’s Mid-Autumn Festival. Due to a bearish economic environment, domestic investors successively exited the market. Transactions during the day were less than 30,000 lots and positions of the...
SMM Brief Review – 2011/9/9 SHFE Aluminum Futures
Most active SHFE 1111 aluminum contract opened slightly higher at RMB 17,455/mt on September 9th, and narrowly fluctuated in the morning session due to a lack of upward momentum on remaining high inflation pressure as reflected by August CPI data. The contract fluctuated upward to an intraday high...
SMM Morning Review - 2011/9/9 Aluminum Market
With British and European central banks’ decisions to keep interest rates unchanged and European Central Bank President Trichet’s warning against high inflation pressure, increasing economic risk and a huge dial-back in economic growth in the euro zone on September 8th, the euro plunged to USD...
SMM Daily Review - 2011/9/8 Base Metals Market
Most active SHFE 1111 aluminum contract opened higher at RMB 17,450/mt on September 8th, and fluctuated below the opening price due to profit-taking by the longs and position building at higher prices among the shorts. The contract rebounded at the tail of trading to the daily moving average on...
SMM Daily Review - 2011/9/7 Aluminum Market
Trading prices of spot aluminum in Shanghai were between RMB 17,750-17,780/mt on September 7th, with premiums of positive RMB 20-50/mt over SHFE current-month aluminum prices. Following a slight rebound in SHFE aluminum prices, spot premiums narrowed to less than RMB 50/mt. Though buying interest...
SMM Morning Review - 2011/9/8 Aluminum Market
The USD 300 billion job package scheduled to be announced by Obama today, combined with successful approval of austerity plan in Italy meaning lower default risk, boosted investor risk appetite overnight, with US stock markets surging by over 2% and the US dollar index closing 0.47% lower at...
SMM Brief Review - 2011/9/7 SHFE Aluminum Futures
Most active SHFE 1111 aluminum contract opened slightly higher at RMB 17,305/mt on September 7th. With alleviated investor worries towards global economic recession, the Shanghai Composite index rebounded to above the 2,500 mark, forcing shorts in SHFE aluminum market to exit and sending most...
SMM Morning Review - 2011/9/7 Aluminum Market
US ISM non-manufacturing index for August came out higher than both market expectation and in previous month, thereby slightly alleviating market worries towards weak European and US economies in the recent period while helping stock market trimming losses at the tail of trading. The US dollar...
SMM Brief Review - 2011/9/6 SHFE Aluminum Futures
Following a plunge in financial markets overnight, most active SHFE 1111 aluminum contract opened lower at RMB 17,320/mt on September 6th. After hitting an intraday low of RMB 17,215/mt in the morning due to strong short momentum, the contract rebounded slightly in the afternoon on profit-taking by...
SMM Al Survey: Consumption Sees Hope as “Gold September & Silver October” Starts
The SMM China Aluminum Ingot Trade Index rose slightly by 3.8% to 41% during August 29th to September 2nd, but was still below the balance line of 50%, indicating market sentiment remained low. Due to tightening credit supply, goods holders were actively liquidating to cash at lower prices, but...
SMM Daily Review - 2011/9/5 Aluminum Market
Morning trading prices of spot aluminum in Shanghai were between RMB 17,780-17,820/mt, with premiums of positive RMB 70-100/mt over SHFE current-month aluminum prices. Though goods holders were unwilling to sell at lower prices and most kept quotes firm at RMB 17,800/mt, lower priced supplies were...
SMM Morning Review - 2011/9/6 Aluminum Market
Continued market panic fueled by pessimism towards future global economy pressed global stock and commodity prices lower overnight, while sending the US dollar index to 75 and gold price back again to USD 1,900/oz. During European trading hours, LME aluminum prices fell below the 20-day moving...
