China continues destocking, coupled with recovering peak-season demand; aluminium prices are expected to consolidate at highs with an upward bias next week
1. Macro perspective The US-Iran conflict escalated sharply. On September 9, Iran's Revolutionary Guard struck multiple oil tankers and merchant vessels in the Strait of Hormuz, causing a significant drop in strait traffic. Brent crude broke through USD 100 per bbl, closing at USD 101.21, while WTI...
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...
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SMM Daily Review - 2011/4/25 Base Metals Market
... SHFE 1106 aluminum contract prices opened slightly higher at RMB 16,750/mt, and later plummeted to RMB 16,655/mt following other base metals prices. Although the Shanghai Stock Exchange composite index fell below 3,000 points, ...
SMM Morning Review - 2011/4/26 Aluminum Market
... LME aluminum prices opened slightly lower at USD 2,735/mt, and are expected to move between USD 2,700-2,750/mt in view of high crude oil prices. SHFE 1106 aluminum contract prices are expected to fluctuate weakly between RMB 16,650-16,770/mt today, ...
SMM Daily Review - 2011/4/22 Base Metals Market
... SHFE aluminum prices to a low of RMB 16,675/mt. SHFE 1106 aluminum contract prices reversed some losses at the tail of trading, and finally closed at RMB 16,725/mt, down RMB 30/mt or 0.18% compared with the previous trading day. ...
SMM Morning Review - 2011/4/25 Aluminum Market
... The LME market was closed on April 22nd and April 25th, and SMM predicts SHFE 1106 aluminum contract prices will move between RMB 16,700-16,800/mt today. Spot aluminum prices are expected to struggle around RMB 16,600/mt, ...
SMM Daily Review - 2011/4/15 Base Metals Market
... SHFE 1106 aluminum contract prices opened at RMB 16,720/mt, with prices hitting a high of RMB 16,765/mt and touching a low of RMB 16,705/mt. SHFE 1106 aluminum contract prices finally closed at RMB 16,710/mt, down RMB 0.24%, ...
SMM Morning Review - 2011/4/18 Aluminum Market
... LME aluminum prices climbed to USD 2,701.3/mt supported by higher energy prices, with prices returning to above 5-day and 10-day moving averages and finally closing at USD 2,680.3/mt, up USD 36.3/mt or 1.37% compared with the previous trading day. ...
SMM Daily Review - 2011/4/14 Base Metals Market
... SHFE 1106 aluminum contract prices opened flat at RMB 16,755/mt on Thursday, and later kept fluctuating in a narrow band due to intense struggles between long and short positions. At the tail of trading, SHFE 1106 aluminum contract prices ...
SMM Morning Review - 2011/4/15 Aluminum Market
... LME aluminum prices fluctuated narrowly around the 20-day moving average last night. The weaker US dollar index boosted crude oil prices to above USD 108/bbl, and LME aluminum prices finally closed at USD 2,644/mt supported by higher energy costs, up USD 8/mt ...
SMM Morning Review - 2011/4/15 Aluminum Market
... LME aluminum prices fluctuated narrowly around the 20-day moving average last night. The weaker US dollar index boosted crude oil prices to above USD 108/bbl, and LME aluminum prices finally closed at USD 2,644/mt supported by higher energy costs, up USD 8/mt ...
SMM Daily Review - 2011/4/13 Base Metals Market
... SHFE 1106 aluminum contract prices reversed some losses, with prices finally closing at RMB 16,790/mt, down RMB 15/mt or 0.09% compared with the previous trading day. ...
SMM Daily Review - 2011/4/12 Base Metals Market
... SHFE 1106 aluminum contract prices opened lower at RMB 16,835/mt, and fell below the 5 and 10-day moving averages, with prices finally closing at RMB 16,780/mt, down RMB 125/mt, or down 0.74%. Trading volumes decreased by 4,196 lots to 295,910 lots. ...
SMM Daily Review - 2011/4/11 Base Metals Market
... SHFE 1106 aluminum contract prices opened slightly higher at RMB 16,890/mt on Monday, and later fluctuated narrowly below the daily moving average after briefly climbing to RMB 16,945/mt, with prices finally closing at RMB 16,880/mt, ...
SMM Morning Review - 2011/4/12 Aluminum Market
... LME aluminum prices continued to increase after climbing to USD 2,720/mt in the morning session. In the afternoon session, a strong earthquake rattled Japan on Monday and sparked a fresh tsunami alert, triggering investors’ panic sentiment. ...
SMM Daily Review - 2011/4/8 Base Metals Market
... SHFE 1106 aluminum contract prices opened slightly higher at RMB 16,845/mt on Friday, and later the Shanghai Stock Exchange composite index was gaining upward momentum after holding steady at 3,000 points, ...
SMM Morning Review - 2011/4/11 Aluminum Market
... LME aluminum prices opened at USD 2,673/mt, and later climbed steadily to set a new high supported by tumbling US dollar index and soaring crude oil prices to USD 113/bbl. LME aluminum prices found strong support at all moving averages, and touched a high of USD 2,714/mt,
SMM Morning Review - 2011/4/8 Aluminum Market
... LME aluminum prices opened at USD 2,671/mt, and later strengthened supported by soaring crude oil prices and a weaker US dollar caused by the European Central Bank’s interest rate increase, with the highest level reported at USD 2,694.3/mt, ...
SMM Daily Review – 2011/4/6 Base Metals Market
... SHFE 1106 aluminum contract prices opened slightly higher at RMB 16,790/mt on Wednesday, and later rapidly stabilized at RMB 16,800/mt after briefly testing this level, with prices climbing to above 3 near-term moving averages and finally closing at RMB 16,830/mt, ...
SMM Morning Review - 2011/4/7 Aluminum Market
... LME aluminum prices opened at USD 2,631/mt, and later edged up to USD 2,685/mt due to higher energy costs and a weaker US dollar, setting a new high since September 2008. Finally, LME aluminum prices closed at USD 2,672.5/mt, ...
