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 Daily Review – 2011/8/25 Aluminum Market
Most active SHFE 1111 aluminum contract opened slightly lower at RMB 17,250/mt and closed RMB 40/mt or 0.23% higher at RMB 17,320/mt on August 25th. The contract hit an intraday high of RMB 17355/mt supported by a 3% surge in Shanghai Composite Index. Market transactions slightly rose to 50,000...
SMM Morning Review – 2011/8/25 Aluminum Market
Investor confidence climbed overnight with all US stock prices climbing after the US Department of Commerce announced July durable goods orders rose 4%, much higher than the 2% expectation. Meanwhile, as more investors expected US Fed to provide QE3, risk aversion capital successively exited gold...
SMM Daily Review – 2011/8/24 Aluminum Market
Most active SHFE 1111 aluminum contract prices opened slightly higher at RMB 17,330/mt on August 24th. After a brief test of RMB 17,345/mt the 60-day moving average, market sentiment fell with market transactions falling by half as a result of Japanese rating downgrade by US credit agency Moody’s....
SMM Brief Review - 2011/8/24 Aluminum Futures: Price Fluctuation to Continue in Short Term
Most active SHFE 1111 aluminum contract prices opened slightly higher at RMB 17,330/mt on August 24th. After a brief test of RMB 17,345/mt the 60-day moving average, market sentiment fell as a result of Japanese rating downgrade by US credit agency Moody’s, with market transactions falling by half....
SMM Morning Review – 2011/8/24 Aluminum Market
Despite weak new home sales date from the US, the risk aversion sentiment in the global market lowered overnight following better-than-expected contraction data for manufacturing industries in China and Europe, dragging down the US dollar index by 0.42% to 73.845. London gold prices also fell 3.85%...
SMM Daily Review – 2011/8/23 Aluminum Market
Most active SHFE 1111 aluminum contract prices opened at previous day closing price of RMB 17,235/mt on August 23rd, and closed at RMB 17,290/mt, up RMB 55/mt or 0.32% from previous trading day. Highest and lowest prices during the day were RMB 17,315/mt and RMB 17,190/mt. Though aluminum became...
SMM Aluminum Survey: Price Fluctuation Narrows, Buyers Wait for Chances
The SMM China Aluminum Ingot Trade Index slightly rebounded to 42.8%, up by 6.3% from previous week during August 15th to August 19th, but was still below the balance line of 50%. Domestic aluminum prices fluctuated in gradually narrowing ranges during the week. Though market trend was still...
SMM Morning Review - 2011/8/23 Aluminum Market
Strong safe haven demand for gold and US dollar in financial markets continued overnight, pushing London gold price to USD 1,900/oz, a record high. The US dollar index also closed higher at 74.159, while commodity prices erased earlier gains and gains of US stocks were limited as a result. The...
SMM Daily Review – 2011/8/22 Aluminum Market
Most active SHFE 1111 aluminum contract opened higher at RMB 17,250/mt and closed at RMB 17,215/mt, up RMB 45/mt or 0.26% on August 22nd. Total positions of the contract added 3,000 lots in the morning which pushed the contract to a highest intraday price of RMB 17,295/mt, but finally dropped 804...
SMM Aluminum Price Forecast (Aug. 22-26)
SHFE 1111 aluminum contract prices edged lower after SHFE 1111 aluminum contracts became the most actively traded contract on Monday due to the situation where stronger near-term contracts and weaker forward contracts prevailed in the SHFE aluminum market. Daily trading volumes of SHFE 1111...
SMM morning Review – 2011/8/22 Aluminum Market
As economic worries overwhelmed on August 19th, more investors turned to gold for risk aversion and gold prices hit a record high of USD 1,878.05/oz. US stock prices were pressed over 1.5% lower in response. The stagnating US economic recovery in the mean time weakened safe haven function of the US...
SMM Daily Review – 2011/8/19 Aluminum Market
Most active SHFE 1111 aluminum contract gapped over 1% lower at RMB 17,070/mt on August 19th due to a plunge in global financial markets. In the morning, it quickly rebounded to struggle at RMB 17,200/mt following an intraday low of RMB 17,020/mt. Total positions of the contract climbed in the...
SMM Daily Review – 2011/8/18 Base Metals Market
Most active SHFE 1111 aluminum contract prices opened slightly higher at RMB 17,345/mt on August 18th, and hit an intraday high of RMB 17,430/mt in the morning with longs buying at lower prices. In the afternoon, most active SHFE aluminum contract prices fell to a lowest RMB 17,200/mt due to...
SMM Morning Review - 2011/8/19 Aluminum Market
With worse than expected data released for new unemployment claims, manufacturing index, house sales etc. on August 18th Thursday, market worries towards global economic recession rose again, with US stock, commodity prices plunging. LME gold prices rose above USD 1,800/oz overnight and the US...
SMM Daily Review – 2011/8/18 Aluminum Market
Most active SHFE 1111 aluminum contract prices opened slightly higher at RMB 17,345/mt on August 18th, and hit an intraday high of RMB 17,430/mt in the morning with longs buying at lower prices. In the afternoon, most active SHFE aluminum contract prices fell to a lowest RMB 17,200/mt due to...
SMM Daily Review – 2011/8/17 Base Metals Market
Most active SHFE 1111 aluminum contract prices opened lower at RMB 17,190/mt on August 17th, and quickly climbed to an intraday high of RMB 17,345/mt before meeting resistance at the 60-day moving average caused by sluggish transactions and exiting capital. Finally closed price was RMB 17,310/mt,...
SMM Morning Review - 2011/8/18 Aluminum Market
Investor risk appetite improved on August 17th following release of a better-than-expected July Producer Price Index (up 0.2% MoM and 7.2% YoY) by the US Department of Labor, and a White House report saying its president Obama was preparing a deficit-cut program to cut more than the target of USD...
SMM Daily Review – 2011/8/17 Aluminum Market
Most active SHFE 1111 aluminum contract prices opened lower at RMB 17,190/mt on August 17th, and quickly climbed to an intraday high of RMB 17,345/mt before meeting resistance at the 60-day moving average caused by sluggish transactions and exiting capital. Finally closed price was RMB 17,310/mt,...
