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 - 2011/8/10 Aluminum Market
Global market got rid of the panic sentiment overnight as a result of slower rising pace of China’s CPI, purchases of Italian and Spanish debt by European Central Bank to curb spreading of the debt crisis, and marker expectations for loose monetary policies by FED, with US stock prices and...
SMM Daily Review – 2011/8/9 Aluminum Market
Plunging global financial markets overnight dragged SHFE aluminum contract prices to gap lower for a third consecutive day by over 4% at RMB 16,510/mt on August 9th. All aluminum contracts fell to a stop at the beginning of trading, but soon reopened supported by buying at low prices and attempted...
SMM Daily Review - 2011/8/9 Base Metals Market
Plunging global financial markets overnight dragged SHFE aluminum contract prices to gap lower for a third consecutive day by over 4% at RMB 16,510/mt on August 9th. All aluminum contracts fell to a stop at the beginning of trading, but soon reopened supported by buying at low prices and attempted...
Aluminum Price to Keep Falling within Bearish Market
The SMM China Aluminum Ingot Trade Index during August 1st to August 5th slightly rebounded to above the balance line of 50% to 50.7%, up by 3.8% from previous week. SHFE aluminum prices plunged during the week from RMB 18,600/mt to RMB 17,930/mt, and purchasing interest among spot aluminum buyers...
SMM Brief Review - 2011/8/9 Aluminum Futures: Gap Lower, Stop and Rebound
Plunging global financial markets overnight dragged SHFE aluminum contract prices to gap lower by over 4% at RMB 16,510/mt on August 9th. At the beginning of trading, all aluminum contracts fell to a stop, which soon reopened supported by buying at low prices and attempted to recover the gap. In...
Aluminum Price to Keep Falling within Bearish Market
The SMM China Aluminum Ingot Trade Index during August 1st to August 5th slightly rebounded to above the balance line of 50% to 50.7%, up by 3.8% from previous week. SHFE aluminum prices plunged during the week from RMB 18,600/mt to RMB 17,930/mt, and purchasing interest among spot aluminum buyers...
SMM Morning Review – 2011/8/9 Aluminum Market
Stock and commodity prices slipped overnight due to investor panic caused by a historical downgrade of the AAA rating of US debt. Later during the day, Standard & Poor’s who produced the historical downgrade further announced that a one in three possibility exists for a second downgrade for US debt...
SMM Daily Review – 2011/8/8 Aluminum Market
Most active SHFE 1110 aluminum contract prices opened over 3% lower at RMB 16,985/mt on August 8th. During initial trading hours, most active SHFE aluminum contract prices kept falling and hit RMB 16,725/mt with an over 4% loss. However, after profit-making by the shorts, most active SHFE aluminum...
SMM Brief Review - 2011/8/8 Aluminum Futures
After investors turned panic following a history’s first downgrade of US debt rating, most active SHFE 1110 aluminum contract prices opened over 3% lower at RMB 16,985/mt on August 8th. During initial trading hours, most active SHFE aluminum contract prices kept falling and hit RMB 16,725/mt with...
SMM Aluminum Price Forecast
SHFE aluminum prices climbed at first but fell later last week, with prices falling by over 4%. Aluminum was still the best performer of base metals in the SHFE market, with SHFE aluminum making gains in early week trading and with SHFE 1110 aluminum contract prices hitting a high of RMB 18,645/mt....
SMM Morning Review - 2011/8/8 Aluminum Market
US Department of Labor announced on August 5th that non-farm employments rose by 117,000 in July, much higher than the expected 85,000. Un-employment rate of July also slightly fell to 9.1%, indicating an optimistic trend in the US employment market. However, panic sentiment among investors turned...
SMM Daily Review – 2011/8/5 Aluminum Market
Due to plunging commodity prices overnight, most active SHFE 1110 aluminum contract prices opened lower at RMB 17,800/mt on August 5th. Within ten minutes after opening, most active SHFE aluminum contract prices fell and stopped at RMB 17,485/mt, down RMB 730/mt or 4% with positions falling by over...
SMM Brief Review - 2011/8/5 Aluminum Futures
Due to plunging commodity prices over night, most active SHFE 1110 aluminum contract prices opened lower at RMB 17,800/mt on August 5th. Within ten minutes after opening, most active SHFE aluminum contract prices fell and stopped at RMB 17,485/mt with positions falling by over 10,000 lots due to...
SMM Daily Review - 2011/8/4 Base Metals Market
After opening at RMB 18,460/mt on August 4th, most active SHFE 1110 aluminum contract prices quickly plunged to below 5-day and 10-day moving averages in the morning session, and closed at RMB 18,135/mt, down RMB 335/mt from previous trading day after a slight rebound. Market confidence turned low...
SMM Morning Review – 2011/8/5 Aluminum Market
European Central Bank announced on August 4th to maintain its interest rate at 1.5%, ending rate hikes starting in April. US Department of Labor announced new unemployment claims fell to 400,000 during the week from July 25th – 29th, slightly better than expected. However, the market was more...
HomeNewsMarket Insights SMM Daily Review – 2011/8/4 Aluminum Market
After opening at RMB 18,460/mt on August 4th, most active SHFE 1110 aluminum contract prices quickly plunged to below 5-day and 10-day moving averages in the morning session, and closed at RMB 18,135/mt, down RMB 335/mt from previous trading day after a slight rebound. Market confidence turned low...
SMM Brief Review - 2011/8/4 Aluminum Futures
After opening at RMB 18,460/mt on August 4th, most active SHFE 1110 aluminum contract prices quickly plunged to below 5-day and 10-day moving averages in the morning session, and closed at RMB 18,135/mt, down RMB 335/mt from previous trading day after a slight rebound. Market confidence turned low...
SMM Morning Review – 2011/8/4 Aluminum Market
US ISM said on August 3rd its non-manufacturing index fell from June’s 53.6 to 52.7 in July, a new low since February 2010 and lower than the expected 53.6. US Department of commerce announced US June factory orders fell by 0.8%, higher than the expected 0.7%, and adjusted June durable goods orders...
