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 - 2011/9/5 SHFE Aluminum Futures
Most active SHFE 1111 aluminum contract opened slightly lower at RMB 17,405/mt on September 5th, due to renewed worries towards US economic recession among investors. After hitting an intraday high of RMB 17,480/mt at the beginning, the contract fell to RMB 17,315/mt, a two-week low, after Shanghai...
SMM Aluminum Price Forecast (Sept. 5-9)
SHFE 1111 aluminum contract prices rose near the 5-day moving average last week, with low-end prices testing RMB 17,450/mt. Daily trading volumes were below 40,000 lots due to tight cash flows at month’s end, while intraday short-term speculative transactions caused positions to fall steadily....
SMM Morning Review - 2011/9/5 Aluminum Market
The non-farm payrolls data released by the US Department of Labor on September 2nd was much out of market expectation, with zero-increase being reported. As US unemployment rate stayed high at 9.1%, market worries towards US economic recession again caused panic in financial markets, with US stocks...
SMM Daily Review - 2011/9/2 Aluminum Market
Most active SHFE 1111 aluminum contract opened slightly lower at RMB 17,465/mt on September 2nd. After erasing weekly gains to RMB 17,370/mt due to profit-taking by the longs and short-selling, the contract partially pared losses at the tail of trading on profit-taking among the shorts, and finally...
SMM Brief Review - 2011/9/2 Aluminum Futures
Most active SHFE 1111 aluminum contract opened slightly lower at RMB 17,465/mt on September 2nd. After erasing weekly gains to RMB 17,370/mt due to profit-taking by the longs and short-selling, the contract partially pared losses at the tail of trading on profit-taking among the shorts and finally...
SMM Morning Review - 2011/9/2 Aluminum Market
Manufacturing data released on September 1st were disappointing in Europe, indicating difficulties to improve debt woes in the area, and even though China and US manufacturing data met market expectations, stagnating economic recoveries in the two countries still scared investors away to seek...
SMM Daily Review - 2011/9/1 Aluminum Market
Though LME aluminum gained again by nearly 2% overnight, most active SHFE aluminum contract opened only slightly higher at RMB 17,510/mt on Sept 1st. After hitting an intraday high of RMB 17,555/mt supported by exiting shorts, the contract erased earlier gains due to weakening Shanghai Composite...
SMM Morning Review - 2011/9/1 Aluminum Market
Investor confidence for LME aluminium rose overnight backed by optimistic expectation for China aluminium consumption in September and better-than-expected factory orders from the US (2.4% to 1.9%), thereby pushing LME aluminium prices to close USD 44.8/mt or 1.84% higher at USD 2471.8/mt, a new...
SMM Brief Review - 2011/8/30 Aluminum Futures
Most active SHFE 1111 aluminum contract opened slightly higher at RMB 17,380/mt on August 30th, and failed to break through RMB 17,500/mt despite rising Chinese stock prices and surrounding metals prices. The contract partially erased earlier gains during spot trading hours due to weak spot...
SMM Aluminum Survey: Cargo-holders Actively Tout Goods on Capital Pressure
The SMM China Aluminum Ingot Trade Index trimmed previous week gains by 5.6% during August 22nd – August 26th to 37.2%, still below the balance line of 50% with downward pressure surging. SMM spot aluminum price stagnated at RMB 17,750/mt during the period. Due to seasonal low-demand, capital...
SMM Morning Review – 2011/8/30 Aluminium Market
In the evening of August 29th, though the US released mixed economic data, a much higher-than-expected personal spending growth (0.8% compared with 0.5% expected) which indicated economic improvement in the US boosted market confidence and limited impact by hurricane “Irene” relieved investor...
SMM Daily Review - 2011/8/29 Base Metals
After opening higher at RMB 17,380/mt, most active SHFE 1111 aluminium contract outperformed surrounding base metals contracts and hit an intraday high of RMB 17,395/mt on August 29th. However, due to market concerns towards liquidity pressure caused by talks of a spread of base of reserve to...
SMM Aluminium Price Forecast (Aug. 29-Sept. 2)
SHFE 1111 aluminium contact prices moved below the 60-day moving average, with prices mainly moving between RMB 17,150-17,350/mt last week. Trading sentiment was sluggish, with daily trading volumes falling to around 50,000 lots. Investors mainly made short-term speculative transactions, keeping...
SMM Brief Review – 2011/8/29 Aluminum Futures: Aluminum Price Stagnates with Reserve Base Spread
After opening higher at RMB 17,380/mt, most active SHFE 1111 aluminum contract outperformed surrounding base metals contracts and hit an intraday high of RMB 17,395/mt on August 29th. However, due to market concerns towards liquidity pressure caused by a spread of base of reserve to include margin...
SMM Morning Review – 2011/8/29 Aluminum Market
Though US Fed president did not mention QE3 during the annual central bank meeting on August 26th, and implied that economic stimulation was not necessary at the time. However, he did say to add two days for the Fed interest rate meeting in September to discuss the need of quantitative easing...
SMM Daily Review – 2011/8/26 Aluminum Market
Most active SHFE 1111 aluminum contract opened slightly higher at RMB 17,330/mt on August 26th. After meeting temporary strong resistance, the contract broke through the 60-day moving average with increased buying, hitting an intraday high of RMB 17,445/mt. The contract finally closed RMB 80/mt or...
SMM Brief Review - 2011/8/26 Aluminum Futures: Most Active Contract Breaks 60-day Moving Average
Most active SHFE 1111 aluminum contract opened slightly higher at RMB 17,330/mt on August 26th. After meeting temporary strong resistance, the contract broke through the 60-day moving average with increased buying, hitting an intraday high of RMB 17,445/mt. The contract finally closed RMB 80/mt or...
SMM Morning Review - 2011/8/26 Aluminum Market
Though the US Department of Labor released on August 25th Thursday a much 5,000 higher than expected unemployment claims data, all LME base metals closed higher during the day as the market expected positive news from Fed president to stimulate development of the US economy. Meanwhile, weak...
