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 – 2011/7/25 Aluminum 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...
SMM Brief Review – 2011/7/22 Aluminum Futures
Most active SHFE 1110 aluminum contract prices opened lower at RMB 17,560/mt on July 22nd, and fell below RMB 17,500 due to short selling at the beginning. Later SHFE 1110 aluminum contract prices rallied and fluctuated at RMB 17,600/mt after more longs entered the market. During the last ten...
SMM Morning Review – 2011/7/22 Aluminum Market
Hong Kong and Shanghai Banking Corporation Limited (HSBC) announced on July 21st that China’s PMI in July fell below 50% and hit a 28-month low. This indicates China’s manufacturing activities are cooling in 3Q and consumption will weaken, which dampened investor confidence. Later during the day,...
SMM Daily Review – 2011/7/21 Aluminum Market
Most active SHFE 1110 aluminum contract prices opened lower at RMB 17,630/mt on July 21st and fell below the 5-day moving average later. At the tail of trading, SHFE 1110 aluminum contract prices further plunged and hit RMB 17,480/mt. Finally SHFE 1110 aluminum contract prices slightly rebounded...
SMM Daily Review – 2011/7/21 Base Metals Market
Most active SHFE 1110 aluminum contract prices opened lower at RMB 17,630/mt on July 21st and fell below the 5-day moving average later. At the tail of trading, SHFE 1110 aluminum contract prices further plunged and hit RMB 17,480/mt. Finally SHFE 1110 aluminum contract prices slightly rebounded...
SMM Brief Review – 2011/7/21 Aluminum Futures
Most active SHFE 1110 aluminum contract prices opened lower at RMB 17,630/mt on July 21st and fell below the 5-day moving average later. At the tail of trading, SHFE 1110 aluminum contract prices plunged further and hit RMB 17,480/mt. Finally SHFE 1110 aluminum contract prices slightly rebounded...
SMM Morning Review – 2011/7/21 Aluminum Market
Changing debt crises in Europe and the US have kept investors cautious, and they are optimistic that an agreement for Greek bailout will be reached during the European Union Summit. As a result, the Euro climbed on July 20. Later during the day, US National Association of Realtors (NAR) announced...
SMM Daily Review – 2011/7/20 Aluminum Market
Most active SHFE 1110 aluminum contract prices opened higher at RMB 17,750/mt on July 20th, but quickly fell to RMB 17,575/mt after position increases by the shorts and profit-taking by the longs. Later SHFE 1110 aluminum contract prices rebounded and tested RMB 17,600/mt. Finally closed price was...
SMM Morning Review – 2011/7/20 Aluminum Market
As default risk rose in Greece, market sentiment turned sluggish. In order to prevent escalation and contagion of the debt crisis, German central bank and European Central Bank decided to convene an emergency meeting this Thursday and a bailout plan is expected for Greece. As a result, the Euro...
SMM Daily Review - 2011/7/19 Aluminum Market
On Tuesday, SHFE 1110 aluminum contracts became the most actively traded, with prices opening at RMB 17,680/mt in the morning session, touching RMB 17,725/mt and then falling to struggle at RMB 17,650/mt. At the end of trading SHFE 1110 aluminum contract prices closed at RMB 17,665/mt, up RMB...
SMM Brief Review – 2011/7/19 Aluminum Futures
Most active SHFE aluminum contract changed to 1110 on July 19. In the morning session, after opening higher at RMB 17,680/mt, SHFE aluminum prices temporarily broke RMB 17,700/mt and hit RMB 17,725/mt. However, after short selling increased, SHFE aluminum prices fell and fluctuated between RMB...
South China Aluminum: Buyers Scared Away by Surging Prices
Today the most active SHFE 1109 aluminum contract prices opened slightly higher at RMB 17,535/mt. During the day, after the longs gained confidence, SHFE 1109 aluminum contract prices surged and hit 17,720/mt, a recent new high. Total positions of SHFE 1109 aluminum contracts decreased by 1,890...
SMM Brief Review – 2011/7/18 Aluminum Futures
Today the most active SHFE 1109 aluminum contract prices opened slightly higher at RMB 17,535/mt. During the day, after the longs gained confidence, SHFE 1109 aluminum contract prices surged and hit 17,720/mt, a recent new high. Total positions of SHFE 1109 aluminum contracts decreased by 1,890...
SMM Morning Review – 2011/7/18 Aluminum Market
On July 15, the US Department of Labor announced that June CPI was down 0.2% MoM, worse than the expected 0.1%. Later US FED announced June industrial production growth was 0.2%, lower than the expected 0.3%. As weak US economic data and spreading European debt crisis dampened investor risk...
SMM Brief Review – 2011/7/15 Aluminum Futures
Today’s most active SHFE 1109 aluminum contract prices opened slightly lower at RMB 17,365/mt, and slightly rebounded in the morning session. After 10:30, the longs pushed SHFE 1109 aluminum contract prices to today’s highest RMB 17,605/mt, which fell later due to the shorts’ selling. Finally...
SMM Morning Review – 2011/7/15 Aluminum Market
On July 14, while the US announced better-than-expected data that June retail sales increased by 0.1% MoM, core PPI rose by 0.3% MoM and unemployment claims fell to 405,000 during the week from July 4 to July 9, investor risk appetite still fell due to ongoing European and US debt issues. Later...
SMM Brief Review – 2011/7/14 Aluminum Futures
Most active SHFE 1109 aluminum contract prices opened higher at RMB 17,400/mt today. As the US dollar index fell, SHFE 1109 aluminum contract prices rose steadily before the tail of the trading. Finally closed price was RMB 17,390/mt, up RMB 30/mt or 0.17% from previous trading day. Positions for...
SMM Morning Review – 2011/7/14 Aluminum Market
US FED president Bernanke implied overnight that more easing monetary policies will be provided due to weak US economy. Meanwhile, default risk increased in the US with no agreement reached for lifting the US debt ceiling while the deadline is approaching. Concerning this, Moody’s put US AAA...
