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 - 2011/8/3 Base Metals Market
Most active SHFE 1110 aluminum contract prices opened lower at RMB 18,285/mt on August 3rd, and surged later with strong long momentum to above the 5-day moving average. Most active SHFE aluminum contract prices climbed to RMB 18,500/mt after positions rose by over 20,000 lots, and finally closed...
SMM Daily Review – 2011/8/3 Aluminum Market
Most active SHFE 1110 aluminum contract prices opened lower at RMB 18,285/mt on August 3rd, and surged later with strong long momentum to above the 5-day moving average. Most active SHFE aluminum contract prices climbed to RMB 18,500/mt after positions rose by over 20,000 lots, and finally closed...
SMM Daily Review – 2011/8/2 Base Metals Market
As LME aluminum prices fell overnight, most active SHFE 1110 aluminum contract prices opened lower at RMB 18,350/nt on August 2nd. After sluggish Shanghai Composite Index forced some longs to exit the market, with total positions of SHFE 1110 aluminum contracts decreasing by 14,000 lots, SHFE...
SMM Morning Review - 2011/8/3 Aluminum Market
The US dollar index rose and hit 74.734 on August 2nd after the US Congress reached an agreement to lift the country’s debt ceiling before the deadline. However, upward space of the US dollar index is limited by market worries towards recovery of the US economy. After fluctuating at the 20-day...
SMM Daily Review – 2011/8/2 Aluminum Market
As LME aluminum prices fell overnight, most active SHFE 1110 aluminum contract prices opened lower at RMB 18,350/nt on August 2nd. After sluggish Shanghai Composite Index forced some longs to exit the market, with total positions of SHFE 1110 aluminum contracts decreasing by 14,000 lots, SHFE...
SMM Brief Review - 2011/8/2 Aluminum Futures
As LME aluminum prices fell overnight, most active SHFE 1110 aluminum contract prices opened lower at RMB 18,350/nt on August 2nd. After sluggish Shanghai Composite Index forced some longs to exit the market, with total positions of SHFE 1110 aluminum contracts decreasing by 14,000 lots, SHFE...
Aluminum Market Cools with High Prices, Tight Capital, Weak Consumption
The SMM China Aluminum Ingot Trade Index during July 25th to July 29th fell below the balance line of 50% to 46.9%, down by 4.5% from previous week. SHFE aluminum prices surged with strong long momentum during the week, with unwillingness to sell remaining strong among goods holders. However, as...
SMM Daily Review - 2011/8/1 Base Metals Market
Most active SHFE 1110 aluminum contract prices opened higher at RMB 18,410/mt on August 1st. In the morning, strong long momentum pushed SHFE 1110 aluminum contract prices to RMB 18,645/mt, a new high since last Thursday’s RMB 18,570/mt. Later released weakening PMI data of China boosted short...
SMM Morning Review – 2011/8/2 Aluminum Market
Though the US debt issue was resolved on August 1, worse-than-expected manufacturing data in Europe, the US and China led to market worries towards demand. As a result, risk aversion sentiment grew, selling pressure for metals prices rose, and the US dollar index surged overnight to 74.291, up...
SMM Daily Review – 2011/8/1 Aluminum Market
Most active SHFE 1110 aluminum contract prices opened higher at RMB 18,410/mt on August 1st. In the morning, strong long momentum pushed SHFE 1110 aluminum contract prices to RMB 18,645/mt, a new high since last Thursday’s RMB 18,570/mt. Later released weakening PMI data of China boosted short...
SMM Brief Review - 2011/8/1 Aluminum Futures
Most active SHFE 1110 aluminum contract prices opened higher at RMB 18,410/mt on August 1st. In the morning, strong long momentum pushed SHFE 1110 aluminum contract prices to RMB 18,645/mt, a new high since last Thursday’s RMB 18,570/mt. Later released weakening PMI data of China boosted short...
SMM Weekly Review and Forecast (Jul. 25-29)
Last week, aluminum was the best performer in base metal markets, with SHFE and spot aluminum prices climbing driven up by a flood of speculative funds, and with SMMI.Al soaring by nearly 4%. Last week, SHFE aluminum prices surged after temporarily fluctuating at the 5-day moving average. Driven up...
SMM China Al Output Data Analysis June 2011
According to the CNIA, China’s output of aluminum semis was 2.21 million mt during June, a new high for 2011. Output was up 5.35% compared with May’s 2.09 million mt and up 25.21% YoY. Although the seasonal low demand period for aluminum semis began in June, overall operating rates at aluminum...
SMM China Al Output Data Analysis June 2011
According to the CNIA, China’s aluminum output was 1.56 million mt during June, up 9.81% YoY, while YTD output from January to June was up 4.4% YoY. Annualized capacity of June output was 19.03 million mt, up 880 kt from May. Commissioning of new projects at Lanzhou Liancheng Aluminum Industry...
SMM China Al Output Data Analysis June 2011
According to the China Nonferrous Metals Industry Association (CNIA), China’s alumina output was 3.10 million mt during June, up 29.39% YoY, and with an annualized capacity of 37.72 million mt, up 2.29 million mt compared with May and up 1.4 million mt compared with April. The growth in alumina...
SMM China Al Imports Data Analysis June 2011
Customs data shows China’s alumina imports fell again to 72.2 kt during June, down 49.36% YoY, and with YTD imports from January to June down 56.73% YoY. Current overseas alumina spot prices were down slightly, but domestic alumina prices were up sharply, so SMM predicts China’s imports of alumina...
SMM China Al Imports Data Analysis June 2011
According to China Customs, China imported 3.49 million mt of bauxite during June, down over 1 million mt, or 22.45%, compared with May’s 4.50 million mt. All June imports were from Indonesia and Australia, with 2.75 million mt from Indonesia, down 21.04% from May, and 742 kt from Australia, also...
SMM Morning Review – 2011/8/1 Aluminum Market
Risk aversion sentiment gradually grew after the White House and Republican leaders failed to reach an agreement during the debt talk on July 29th, which helped the US dollar index stand steady above the 10-day moving average during European trading hours. Later, the US Department of Commerce...
