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 - 2011/1/31 Base Metals Market
... SHFE 1104 aluminum contract prices opened high at above the 60-day moving averages on Monday, and rallied all the way along with rising prices of other base metals and strengthening stocks prices. Finally, SHFE 1104 aluminum contract prices closed at a daily high level of RMB 16,925/mt. ...
SMM Morning Review - 2011/1/31 Aluminum Market
... LME aluminum prices rebound strongly, and LME aluminum prices climbed continuously after opening at USD 2,460/mt, with the highest prices reported at USD 2,473/mt, and finally closed at USD 2,470/mt, up USD 43/mt ....
SMM Daily Review - 2011/1/27 Base Metals Market
... SHFE 1104 aluminum contract prices opened slightly lower at RMB 16,750/mt, and later climbed gradually as the Shanghai Stock Exchange composite index stabilized at 2,700 points. However, limited speculative funds caused trading volumes to be very limited, ...
SMM Morning Review - 2011/1/28 Aluminum Market
... LME aluminum prices opened at USD 2,413/mt, and later climbed continuously, and finally ended at USD 2,427/mt. LME aluminum inventories declined by 5,475 mt to 4,530,725 mt. Today, ...
SMM Daily Review - 2011/1/24 Base Metals Market
... SHFE 1104 aluminum contract prices climbed slightly after opening slightly higher at RMB 16,865/mt on Monday, ... SHFE 1104 aluminum contract prices hit an intraday high of RMB 16,900/mt but touched an intraday low of RMB 16,835/mt, and finally closed at RMB 16,850/mt, ....
SMM Morning Review - 2011/1/25 Aluminum Market
... LME aluminum prices, and LME aluminum prices edged down gradually after opening at an intraday high of USD 2,422/mt, and finally closed at USD 2,413/mt, down USD 7/mt compared with the previous trading day. LME aluminum inventories fell by 4,375 mt to 4,545,950 mt. SHFE aluminum prices opened...
SMM Daily Review - 2011/1/21 Base Metals Market
... Tumbling LME aluminum prices caused SHFE 1104 aluminum contract prices to open significantly lower at RMB 16,570/mt on January 21st, and later gradually reversed some losses as the Shanghai Stock Exchange composite index rallied to 2,700 points. ....
SMM Daily Review – 2010/1/20 Base Metals Market
... SHFE aluminum prices fell slower than copper and zinc prices on Thursday. SHFE 1104 aluminum contract prices climbed to RMB 16,910/mt after opening lower at RMB 16,800/mt ....
SMM Daily Review – 2010/1/19 Base Metals Market
... SHFE 1104 aluminum contract prices opened slightly higher at RMB 16,845/mt on Wednesday, and later kept rising supported by strengthening Shanghai Stock Exchange composite index, with prices hitting a high of RMB 16,920/mt and later falling back to RMB 16,900/mt, ....
SMM Daily Review – 2010/1/18 Base Metals Market
... SHFE 1104 aluminum contract prices opened significantly lower at RMB 16,750/mt on Tuesday due to tumbled financial markets and tighter monetary policy in China. ... and the lowest level at RMB 16,860/mt and RMB 16,750/mt, respectively, and finally closed at RMB 16,815/mt, down RMB 110/mt or...
SMM Daily Review – 2010/1/17 Base Metals Market
... SHFE 1104 aluminum contract prices opened slightly higher at RMB 16,950/mt on Monday, but later fell gradually as the Shanghai Stock Exchange composite index fell below 2,700 points. SHFE 1104 aluminum contract prices hit a high of RMB 16,990/mt and touched a low of RMB 16,860/mt, and finally...
SMM Daily Review – 2010/1/14 Base Metals Market
... SHFE 1104 aluminum contract prices fell to RMB 16,695/mt after opening, and weakened again after briefly climbing to RMB 17,000/mt, with the lowest prices reported at RMB 16,895/mt, and finally SHFE 1104 aluminum contract prices closed at RMB 16,950/mt, down RMB 65/mt. ....
SMM Daily Review - 2011/1/13 Base Metals Market
... SHFE 1104 aluminum contract prices opened at RMB 17,060/mt and moved lower after briefly reaching RMB 17,095/mt, down as low as RMB 17,005/mt. Finally, the aluminum for delivery in three months closed at RMB 17,015/mt, down RMB 35/mt, ...
SMM Daily Review - 2011/1/12 Base Metals Market
... SHFE 1104 aluminum contract became the most actively traded contract on Wednesday. SHFE 1104 aluminum contract prices briefly soared to RMB 17,120/mt after opening higher at RMB 17,035/mt, but later lost previous gains gradually, with the prices even hitting a low of RMB 16,990/mt. ...
SMM Morning Review - 2011/1/13 Aluminum Market
... LME aluminum prices climbed gradually after opening at a low of USD 2,488/mt, with prices hitting a high of USD 2,521/mt and closing at USD 2,504/mt, up USD 7/mt compared with the previous trading day, or up 0.28%. LME aluminum inventories continued to increase by 14,650 mt to 4,408,350 mt. ...
SMM Daily Review - 2011/1/11 Base Metals Market
... SHFE 1103 aluminum contract prices opened slightly lower at RMB 17,050/mt in the morning session, ... and finally closed at RMB 17,010/mt, down RMB 70/mt compared with the previous trading day, or down 0.41%. ...
SMM Daily Review - 2011/1/10 Base Metals Market
... SHFE 1103 aluminum contract prices opened slightly lower at RMB 16,905/mt in the morning session, and later gradually fell after soaring to RMB 17,005/mt briefly. The weakening Shanghai Stock Exchange composite index weighed down SHFE aluminum prices, and SHFE 1103 aluminum contract prices fell...
SMM Morning Review - 2011/1/11 Aluminum Market
... LME aluminum prices fell further negatively affected by other base metals prices. LME aluminum prices fell to a low of USD 2,475/mt after opening at USD 2,515/mt, and finally closed at USD 2,491/mt, down USD 18/mt compared with the previous trading day. ...
