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 - 2011/3/10 Base Metals Market
... SHFE 1105 aluminum contract prices again opened significantly lower at RMB 16,700/mt on Thursday. The Shanghai Stock Exchange composite index opened low and moved lower in the morning session, ....
SMM Morning Review - 2011/3/11 Aluminum Market
... LME aluminum prices kept fluctuating narrowly after opening at USD 2,580/mt, with strong support reported at USD 2,570/mt, and finally prices ended at an intraday high of USD 2,585/mt, ...
SMM Daily Review - 2011/3/9 Base Metals Market
... SHFE 1105 aluminum contract prices climbed gradually to a high of RMB 16,845/mt after opening higher at RMB 16,765/mt, and finally closed at RMB 16,825/mt, up over RMB 100/mt or 0.66%. ...
SMM Morning Review - 2011/3/10 Aluminum Market
... LME aluminum prices dipping to a low of USD 2,569.9/mt after opening higher at USD 2,620/mt. LME aluminum prices reversed some previous losses at the tail of trading due to positive credit data in the US, ...
SMM Daily Review - 2011/3/8 Base Metals Market
... SHFE aluminum prices opened significantly lower following other base metals prices on Tuesday, with prices falling below all moving averages and testing a low set in November 2010. SHFE 1105 aluminum contract prices opened at RMB 16,735/mt, ...
SMM Morning Review - 2011/3/9 Aluminum Market
... LME aluminum prices opened at USD 2,560/mt, and later climbed to USD 2,604/mt, as exports of spot aluminum from Libya were disrupted. However, LME aluminum prices later lost some gains due to a stronger US dollar, ....
SMM Daily Review - 2011/3/7 Base Metals Market
... SHFE aluminum market on Monday as well. SHFE 1105 aluminum contract prices fell continuously after opening at RMB 16,955/mt. Other base metals prices were weak as well, ....
SMM Morning Review - 2011/3/8 Aluminum Market
... LME aluminum prices finally ended at an intraday low of USD 2,557/mt, down USD 43/mt compared with the previous trading day, or down 1.65%. Disruption of spot aluminum supplies in Middle East helped support LME aluminum prices ....
SMM Daily Review - 2011/3/4 Base Metals Market
... SHFE 1105 aluminum contract prices opened slightly lower at RMB 16,980/mt on Friday, and later climbed rapidly to RMB 17,060/mt following other base metals prices. Later, SHFE 1105 aluminum contract prices edged down and kept fluctuating around RMB 17,000/mt, ....
SMM Morning Review - 2011/3/7 Aluminum Market
... LME aluminum prices opened higher at USD 2,623/mt, and later edged down as investors exited the market after profit-taking, with prices finally closing at USD 2,600/mt, down USD 14/mt compared with the previous trading day, ....
SMM Daily Review – 2010/3/3 Base Metals Market
... SHFE 1105 aluminum contract prices opened flat at RMB 16,975/mt on Thursday, and later climbed to RMB 17,030/mt in the morning session following SHFE zinc prices. Later, SHFE 1105 aluminum contract prices ....
SMM Morning Review - 2011/3/4 Aluminum Market
... LME aluminum prices climbed steadily after opening at USD 2,593/mt, and later hit a record high of USD 2,625/mt. Later, as long investors exited the market after profit-taking, LME aluminum prices lost some gains, with prices finally closing at USD 2,609/mt, ....
SMM Daily Review – 2010/3/1 Base Metals Market
... As LME aluminum prices closed at a high of USD 2,600/mt overnight, SHFE 1105 aluminum contract prices opened slightly higher at RMB 17,155/mt. Although the Shanghai Stock Exchange composite index held steady at 2,900 points, ....
SMM Daily Review – 2010/2/28 Base Metals Market
... SHFE 1105 aluminum contract prices opened slightly higher at RMB 17,160/mt on Monday, and later moved below the daily moving average in the morning session due to weak stock markets, with prices hitting a low of RMB 17,080/mt ....
SMM Daily Review – 2010/2/25 Base Metals Market
... SHFE 1105 aluminum contract prices opening slightly higher at RMB 17,085/mt. Since the Shanghai Stock Exchange composite index kept fluctuating, and spot consumption was sluggish, ...
SMM Daily Review - 2011/2/24 Base Metals Market
... SHFE 1105 aluminum contract prices briefly climbed to RMB 17,090/mt after opening slightly lower at RMB 17,030/mt on Thursday, and later kept fluctuating narrowly above RMB 17,000/mt. ....
SMM Morning Review - 2011/2/25 Aluminum Market
... LME aluminum prices opened at USD 2,535/mt, and later rebounded after falling to a low of USD 2,498/mt, and finally closed at USD 2,541/mt, up USD 11/mt compared with the previous trading day. ...
SMM Daily Review - 2011/2/23 Base Metals Market
... SHFE aluminum prices opened significantly lower due to sluggish spot consumption, and SHFE 1105 aluminum contract prices faced pressure at RMB 17,100/mt, so ....
