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 – 2011/7/29 Aluminum Market
Most active SHFE 1110 aluminum contract prices opened lower at RMB 18,380/mt on July 29th. After total positions sharply decreased by over 19,000 lots due to profit-making by the longs, SHFE 1110 aluminum contract prices plunged and hit RMB 18,200/mt. Finally closed price was RMB 18,210/mt, down...
SMM Morning Review - 2011/7/29 Base Metals Market
Most active SHFE 1110 aluminum contract prices opened lower at RMB 18,380/mt on July 29th. After total positions sharply decreased by over 19,000 lots due to profit-making by the longs, SHFE 1110 aluminum contract prices plunged and hit RMB 18,200/mt. Finally closed price was RMB 18,210/mt, down...
SMM Brief Review – 2011/7/29 Aluminum Futures
Most active SHFE 1110 aluminum contract prices opened lower at RMB 18,380/mt and later plunged to hit RMB 18,200/mt on July 29th. Finally closed price was RMB 18,210/mt, down RMB 245/mt or 1.33% from previous trading day. Total positions sharply decreased by over 19,000 lots due to profit-making by...
SMM Morning Review – 2011/7/29 Aluminum Market
The Economic Sentiment Indicator (ESI) released on July 28 by European Commission was 103.2 in July, weaker than expected and down from previous figure, indicating Euro zone economy is not likely to recover in the short term impacted by debt woes. Later during the day, US Department of Labor...
SMM Morning Review – 2011/7/29 Aluminum Market
The Economic Sentiment Indicator (ESI) released on July 28 by European Commission was 103.2 in July, weaker than expected and down from previous figure, indicating Euro zone economy is not likely to recover in the short term impacted by debt woes. Later during the day, US Department of Labor...
SMM Daily Review – 2011/7/28 Aluminum Market
Most active SHFE 1110 aluminum contract prices opened higher at RMB 18,270/mt on July 28, and surged by nearly 2% in the morning, hitting RMB 18,570/mt. In the afternoon, SHFE 1110 aluminum contract prices erased early gains due to stronger short momentum (short position momentum), and finally...
SMM Brief Review – 2011/7/28 Aluminum Futures
Most active SHFE 1110 aluminum contract prices opened higher at RMB 18,270/mt on July 28, and surged by nearly 2% in the morning, hitting RMB 18,570/mt. In the afternoon, after short selling prevailed, SHFE 1110 aluminum contract prices erased early gains and finally closed at RMB 18,360/mt, up RMB...
SMM Morning Review – 2011/7/28 Aluminum Market
US Department of Commerce announced on July 27 that June durable goods orders fell 2.1% MoM, which was a second fall during recent three months, and was opposite from the expected 0.3% gain. This indicated a dim future for the US industry. Meanwhile, as no valid agreement has been reached, investor...
SMM Daily Review – 2011/7/27 Aluminum Market
Most active SHFE 1110 aluminum contract prices again opened higher at RMB 18,010/mt on July 27. In the morning, most active SHFE 1110 aluminum contract prices successfully broke through RMB 18,000/mt after 11: 00 a.m. and hit RMB 18,400/mt. At the tail of trading, most active SHFE 1110 aluminum...
SMM Brief Review – 2011/7/27 Aluminum Futures
As the bull market of SHFE aluminum futures continued, most active SHFE 1110 aluminum contract prices opened higher at RMB 18,010/mt on July 27. In the morning, most active SHFE 1110 aluminum contract prices successfully broke through RMB 18,000/mt after 11 a.m. and hit RMB 18,400/mt. At the tail...
Aluminum Output Climbs With Growing Capacities
China Nonferrous Metals Industry Association announced that China’s aluminum output in June is 1,564.2 kt, which has grown for three successive months. China’s total aluminum output from January to June is 8,686.3 kt, up 4.4% YoY. SMM expects China’s aluminum output to keep growing in July....
SMM Morning Review – 2011/7/27 Aluminum Market
The debt talk stalemate in the US has exposed the country to risks of default and downgrade of credit rating. Late on July 26th, a higher July Conference Board Consumer Confidence Index was released, but coupled with lower-than-expected new house sales data in June. As risk aversion sentiment grew,...
SMM Daily Review – 2011/7/26 Base Metals Market
A bull market for SHFE aluminum contracts was seen on July 26th. In the morning, after opening at RMB 17,650/mt and consolidating at RMB 17,700/mt, most active SHFE 1110 aluminum contract prices surged and hit RMB 17,910/mt. In the afternoon, after regaining confidence, the longs pushed up SHFE...
SMM Daily Review – 2011/7/26 Aluminum Market
A bull market for SHFE aluminum contracts was seen on July 26th. In the morning, after opening at RMB 17,650/mt and consolidating at RMB 17,700/mt, most active SHFE 1110 aluminum contract prices surged and hit RMB 17,910/mt. In the afternoon, after regaining confidence, the longs pushed up SHFE...
SMM Brief Review – 2011/7/26 Aluminum Futures
A bull market for SHFE aluminum contracts was seen on July 26th. In the morning, after opening at RMB 17,650/mt and consolidating at RMB 17,700/mt, most active SHFE 1110 aluminum contract prices surged and hit RMB 17,910/mt during spot trading hours. In the afternoon, after regaining confidence,...
Aluminum Prices Climbing As Optimism Continues
The SMM China Aluminum Ingot Trade Index during July 18th to July 22nd slightly rose to 51.4%, up by 6.3% from previous week, and broke through the balance line of 50%. As domestic spot aluminum inventories continuously fell and will keep falling in the short term, goods holders were holding goods...
SMM Morning Review – 2011/7/26 Aluminum Market
On July 25th, market sentiment turned cautious after US president Obama failed to reach an agreement for debt ceiling issue with Republicans in the Congress. As a result, the US dollar index lost upward momentum and finally closed at 74.115, down 0.17% despite a downgrade of Greek debt rating by...
SMM Daily Review – 2011/7/25 Base Metals Market
After LME aluminum prices gained a huge 2% on July 22nd, SHFE aluminum prices opened higher on July 25th at RMB 17,660/mt in response. Tight spot aluminum supply also pushed SHFE aluminum prices to test RMB 17,700/mt. However, after Shanghai Composite Index plunged by nearly 3%, all base metals...
