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 Morning Review - 2011/2/24 Aluminum Market
... LME aluminum prices opened at USD 2,523/mt, and later rebounded after falling to a low of USD 2,495/mt, and finally closed at USD 2,530/mt, up USD 2/mt compared with the previous trading day. ....
SMM Daily Review - 2011/2/22 Base Metals Market
... SHFE 1105 aluminum contract prices opened higher at RMB 17,315/mt on Tuesday, and later briefly climbed to RMB 17,440/mt. However, as the Shanghai Stock Exchange composite index failed to hold steady at 2,900 points, ....
SMM Daily Review - 2011/2/21 Base Metals Market
... SHFE 1105 aluminum contract prices climbed continuously after opening higher at RMB 17,205/mt. The Shanghai Stock Exchange composite index returned to 2,900 points, boosting market confidence, and SHFE 1105 aluminum ....
SMM Daily Review - 2011/2/18 Base Metals Market
... SHFE 1105 aluminum contract prices opened slightly higher at RMB 17,205/mt, and later kept moving below the daily moving average. SHFE 1105 aluminum contract prices fell significantly in the afternoon session as the Shanghai Stock Exchange composite index fell below 2,900 points, ....
SMM Daily Review - 2011/2/17 Base Metals Market
... SHFE 1105 aluminum contract prices climbed further to RMB 17,270/mt after opening slightly higher at RMB 17,205/mt. Later, as many long investors exited the market after profit-taking, and the Shanghai Stock Exchange composite index fell back, ....
SMM Morning Review - 2011/2/18 Aluminum Market
... LME aluminum prices were boosted by a weaker US dollar. LME aluminum prices opened at USD 2,504/mt, and later rebounded after briefly falling below USD 2,500/mt, and finally closed at USD 2,513/mt, up USD 9/mt ....
SMM Morning Review - 2011/2/17 Aluminum Market
... LME aluminum prices climbed slightly, with prices opening at USD 2,500/mt and later hitting a high of USD 2,526/mt. The weakening LME copper prices later caused LME aluminum prices to lose some gains, and LME aluminum prices finally closed at USD 2,504/mt, ...
SMM Daily Review - 2011/2/16 Base Metals Market
... SHFE 1104 aluminum contract prices opened lower at RMB 16,950/mt on Wednesday, but later returned to RMB 17,000/mt driven up by strong support at the low-end of price range, ....
SMM Daily Review - 2011/2/15 Base Metals Market
... SHFE aluminum prices were weak on Tuesday, with SHFE 1104 aluminum contract prices opening higher at RMB 17,115/mt. China’s CPI for January was released at 10:00 am, dampening any increases in SHFE base metals prices. ....
SMM Morning Review - 2011/2/16 Aluminum Market
... LME aluminum prices fell continuously to break through the USD 2,500/mt mark after opening at USD 2,521/mt, and finally closed at USD 2,492/mt, down USD 32/mt compared with the previous trading day. LME aluminum inventories increased by 5,500 mt to 4,600,225 mt. ....
SMM Daily Review - 2011/2/14 Base Metals Market
... SHFE 1104 aluminum contract prices fell to an intraday low of RMB 17,020/mt in the morning session after opening slightly lower at RMB 17,080/mt. Later, SHFE 1104 aluminum contract prices climbed to RMB 17,150/mt ....
SMM Morning Review - 2011/2/15 Aluminum Market
... LME aluminum prices climbed continuously after opening at USD 2,510/mt, and finally closed at an intraday high of USD 2,524/mt, up USD 28/mt compared with the previous trading day. LME aluminum inventories fell by 4,725 mt to 4,594,725 mt. ....
SMM Morning Review - 2011/2/14 Aluminum Market
... LME aluminum prices opened at an intraday high of USD 2,512/mt, and later fell continuously to below USD 2,500/mt, with prices finally closing at USD 2,496/mt, down USD 42/mt compared with the previous trading day. ....
SMM Daily Review - 2011/2/11 Base Metals Market
... SHFE 1104 aluminum contract opened slightly higher at RMB 17,065/mt and closed at RMB 17,090/mt, up by RMB 55/mt, or up by 0.32% from a day earlier, ... SHFE aluminum was the only base metal reporting gains on February 11th. SHFE aluminum positions increased to around 60,000 lots, with a large...
SMM Daily Review - 2011/2/10 Base Metals Market
... SHFE aluminum prices moved at high level, with prices reaching the highest at RMB 17,065/mt and closing at RMB 17,050/mt, up by RMB 10/mt from a day earlier. Daily positions increased by around 10, 000 lots, ....
SMM Daily Review - 2011/2/9 Base Metals Market
... SHFE aluminum contract fell sharply to below RMB 16,800/mt after opening at USD 17,150/mt due to profit-taking from longs, and slipped again after slight rebound. Slipping pace of SHFE aluminum contract slowed to certain extent, with price finally closing at RMB 16,995/mt, ....
SMM Daily Review - 2011/2/1 Base Metals Market
... SHFE three-month aluminum contract prices rebounded to RMB 17,000/mt and once hit RMB 17,145/mt boosted by other metal prices, and finally closed at RMB 17,130/mt, up RMB 235/mt from the previous trading day. ....
SMM Morning Review - 2011/2/9 Aluminum Market
... LME aluminum prices to open at USD 2,541/mt and hit a yearly high at USD 2,573/mt. LME aluminum prices fell slightly at the end of trading and finally closed at USD 2,561/mt, up USD 4/mt from the previous trading day. Total inventories grew significantly by 31,650 mt to 4562,625 mt. ....
