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...
Grow with
AL Circle
SMM Morning Review - 2011/4/6 Aluminum Market
... LME aluminum prices fluctuated narrowly between USD 2,620-2,650/mt on Monday and Tuesday. NYMEX crude oil prices again set a new high on Monday, helping push up LME aluminum prices slightly, ...
SMM Daily Review - 2011/4/1 Base Metals Market
... SHFE 1106 aluminum contract prices opened slightly lower at RMB 16,760/mt, and later struggled around the daily moving average after briefly climbing to an intraday high of RMB 16,810/mt, ...
SMM Daily Review - 2011/3/28 Base Metals Market
... SHFE 1106 aluminum contract prices became the most actively traded contract on Monday. Positively affected by strengthening LME aluminum prices, SHFE 1106 aluminum contract prices opened slightly higher at RMB 16,920/mt, ...
SMM Daily Review - 2011/3/25 Base Metals Market
... SHFE 1105 aluminum contract prices opened flat at RMB 16,740/mt on Friday, with prices fluctuating higher to test the resistance at RMB 16,800/mt. In the afternoon session, LME aluminum prices rebounded, helping SHFE 1105 aluminum contract prices stand above the RMB 16,800/mt ...
SMM Daily Review - 2011/3/23 Base Metals Market
... SHFE 1105 aluminum contract prices opened slightly higher at RMB 16,660/mt on Wednesday. Later, as the Shanghai Stock Exchange composite index held steady at 2,900 points, and LME aluminum prices strengthened to test USD 2,600/mt, ...
SMM Daily Review - 2011/3/22 Base Metals Market
... SHFE 1105 aluminum contract prices opened slightly higher at RMB 16,610/mt on Tuesday, and later fluctuated higher, with prices losing some gains at the tail of trading and finally closing at RMB 16,660/mt, ...
SMM Morning Review - 2011/3/23 Aluminum Market
... LME aluminum prices to open higher at USD 2,584/mt. LME aluminum prices later moved higher to test the resistance at USD 2,600/mt, and finally stood above this level, up USD 30/mt or 1.17% compared with the previous trading day. ...
SMM Daily Review - 2011/3/21 Base Metals Market
... SHFE 1105 aluminum contract prices opened slightly higher at RMB 16,570/mt on Monday, and later kept fluctuating narrowly, with heavy pressure reported at RMB 16,600/mt. ...
SMM Morning Review - 2011/3/22 Aluminum Market
... LME aluminum prices to open higher at USD 2,588/mt last night, but later the negative US house data caused LME aluminum prices to fluctuate lower to hit a low of USD 2,564/mt. ...
SMM Daily Review - 2011/3/18 Base Metals Market
... SHFE 1105 aluminum contract prices climbed rapidly to RMB 16,590/mt after opening higher at RMB 16,525/mt on Friday. Although SHFE aluminum prices lost some gains as the Shanghai Stock Exchange ... SHFE 1105 aluminum contract prices moved steadily and closed higher at RMB 16,550/mt, up RMB...
SMM Morning Review - 2011/3/21 Aluminum Market
... LME aluminum prices to open significantly higher at USD 2,547/mt. Later, LME aluminum prices fluctuated higher, ... . LME aluminum prices finally closed at USD 2,560/mt, up USD 37/mt or 1.47% compared with the previous trading day. ...
SMM Daily Review - 2011/3/17 Base Metals Market
... SHFE 1105 aluminum contract prices slipped continuously following other base metals prices after opening lower at RMB 16,460/mt, with prices even falling below RMB 16,400/mt. Although SHFE 1105 aluminum contract prices ...
SMM Daily Review - 2011/3/16 Base Metals Market
... SHFE 1105 aluminum contract prices opened slightly higher at RMB 16,600/mt on Wednesday, and later dipped rapidly to a low of RMB 16,470/mt, with prices fluctuating weakly below the daily moving average. In the afternoon session, ....
SMM Daily Review - 2011/3/15 Base Metals Market
... SHFE 1105 aluminum contract prices opened slightly higher at RMB 16,670/mt on Tuesday. Later, Nikkei tumbled fresh explosions rocked a damaged nuclear plant at noon and triggered a rise in radiation levels, ....
SMM Morning Review - 2011/3/16 Aluminum Market
... LME aluminum prices opened significantly lower at USD 2,510/mt, and later dipped gradually to below the 60-day moving average, and finally closed at USD 2,502/mt supported by a weaker US dollar, ....
SMM Daily Review - 2011/3/14 Base Metals Market
... SHFE 1105 aluminum contract prices opened lower at RMB 16,650/mt on Monday, and later climbed rapidly to test the pressure at the 5-day moving average. However, as the Japanese earthquake dragged down trading sentiment in Asian markets, ...
SMM Morning Review - 2011/3/15 Aluminum Market
... LME aluminum prices opened at USD 2,538/mt, and later rebounded and returned to the 30-day moving average at the end of trading supported by a weaker US dollar, and finally LME aluminum prices closed at USD 2,555/mt, ....
SMM Daily Review - 2011/3/11 Base Metals Market
... SHFE 1105 aluminum contract prices to lose previous gains. Finally, SHFE 1105 aluminum contract prices closed at RMB 16,760/mt, down RMB 5/mt compared with the previous trading day, or down 0.03%. ....
