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 - 2011/1/10 Aluminum Market
... LME aluminum prices opened at USD 2,505/mt, and later hit an intraday high of USD 2,541/mt, setting a new high. Later, the weakening base metals prices and strengthening US dollar index weighed down LME aluminum prices, and LME aluminum prices finally closed at USD 2,509/mt, down USD 10/mt...
SMM Daily Review - 2011/1/7 Base Metals Market
... SHFE aluminum prices plummeted in response, with prices even breaking through all moving averages and hitting a low of RMB 16,545/mt. SHFE 1103 aluminum contract prices finally closed at RMB 16,850/mt, and trading sentiment was very bullish, with total trading volumes reaching 180,000 lots. ...
SMM Daily Review - 2011/1/6 Base Metals Market
... SHFE aluminum prices strengthened on Thursday, with SHFE 1103 aluminum contract prices soaring after opening at RMB 16,870/mt in the morning session. SHFE 1103 aluminum contract prices climbed to RMB 17,000/mt, ...
SMM Morning Review - 2011/1/6 Aluminum Market
... LME aluminum prices opened slower at USD 2,466/mt, and later dipped to a low of USD 2,444/mt, and finally closed at USD 2,465/mt down USD 20/mt compared with the previous trading day. SHFE aluminum prices opened slightly higher today, ....
SMM Daily Review - 2011/1/4 Base Metals Market
... SHFE 1103 aluminum contract prices only opening at RMB 16,835/mt, SHFE 1103 aluminum contract prices surged in the afternoon session to hit RMB 16,975/mt, and finally closed at RMB 16,895/mt, up RMB 105/mt. Transactions on SHFE aluminum market improved on the first trading day of 2011, ...
SMM Morning Review - 2011/1/5 Aluminum Market
... LME base metals prices were mixed yesterday. LME aluminum prices opened at USD 2,480/mt, and later climbed to USD 2,490/mt, close to the 2-year high of USD 2,500/mt. Although later the tumbling LME copper prices weighed down LME aluminum prices, ...
SMM Daily Review - 2010/12/31 Base Metals Market
... SHFE 1103 aluminum contract prices fluctuated narrowly in the morning after opening flat at RMB 16,755/mt on December 31st. The soaring SHFE copper prices and strongly climbing Shanghai Stock Exchange composite index in the afternoon helped drive up SHFE aluminum prices slightly, and the...
SMM Morning Review - 2011/1/4 Aluminum Market
... LME aluminum prices fell to USD 2,468/mt after opening at USD 2,480/mt, and later rebounded and finally closed at USD 2,484/mt, up USD 30/mt compared with the previous trading day, or up 1.2%. Today, SHFE aluminum prices opened higher, with SHFE 1103 aluminum contract prices even breaking...
SMM Daily Review - 2010/12/30 Base Metals Market
... SHFE 1103 aluminum contract prices moved around the 5-day moving average after opening at RMB 16,740/mt. ... SHFE 1103 aluminum contract prices climbing to RMB 16,820/mt and closing at RMB 16,815/mt, up RMB 90/mt. ....
SMM Daily Review - 2010/12/29 Base Metals Market
... SHFE 1103 aluminum contract prices kept fluctuating narrowly around the 5-day moving average on Monday after opening slightly higher at RMB 16,725/mt, with the highest level and the lowest level at RMB 16,690/mt and RMB 16,760/mt, respectively, and finally closed at RMB 16,745/mt, up 0.24%....
SMM Morning Review - 2010/12/29 Aluminum Market
... LME market remained closed for the boxing day holiday on Tuesday and will resume trading on Wednesday. ... SHFE aluminum prices opened slightly higher, but the upward momentum remains weaker than other base metals. SMM predicts SHFE 1103 aluminum contract prices will move between RMB...
SMM Morning Review - 2010/12/27 Aluminum Market
... LME aluminum prices slipped first but advanced later. LME aluminum prices fell gradually after opening at an intraday high of USD 2,445/mt, and later reversed some losses after dipping to USD 2,412/mt, and finally ended at USD 2,430/mt, down USD 2/mt compared with the previous trading day. ...
SMM Daily Review - 2010/12/24 Base Metals Market
... SHFE 1103 aluminum contract prices dipped steadily after opening slightly lower at RMB 16,755/mt, with prices dipping to a low of RMB 16,670/mt. Later, SHFE 1103 aluminum contract prices rallied following other base metals prices, and finally closed at RMB 16,740/mt, down RMB 0.27%. ..
SMM Daily Review - 2010/12/23 Base Metals Market
... SHFE 1103 aluminum contract prices opened higher at RMB 16,750/mt, and later climbed rapidly to break through RMB 16,800/mt. Although SHFE 1103 aluminum contract prices fell slightly to hit a low of RMB 16,705/mt ...
SMM Daily Review - 2010/12/22 Base Metals Market
... SHFE aluminum prices opened significantly higher on Wednesday, with SHFE 1103 aluminum contract prices even climbing to RMB 16,710/mt after opening. Although SHFE base metals prices lost gains during the day, the strong buying at the low-end of price range helped support SHFE aluminum prices....
SMM Morning Review - 2010/12/23 Aluminum Market
... LME aluminum prices climbed gradually after opening at USD 2,455/mt, and later kept fluctuating at high levels, and finally closed at USD 2,462/mt, up USD 27/mt compared with the previous trading day, or up 1.1%. Positions increased by 1,008 lots, and LME aluminum inventories fell further by...
SMM Daily Review - 2010/12/21 Base Metals Market
... SHFE 1103 aluminum contract prices opened slightly higher at RMB 16,605/mt, and were weaker in the morning session,... RMB 16,640/mt and RMB 16,560/mt, respectively, and finally SHFE 1103 aluminum contract prices ended at RMB 16,630/mt, up RMB 30/mt. ...
SMM Daily Review - 2010/12/20 Base Metals Market
... SHFE 1103 aluminum contract prices advanced further after opening higher at RMB 16,605/mt supported by strengthening LME aluminum prices, ... after facing resistance at RMB 16,670/mt, with prices dipping a low of RMB 16,525/mt. SHFE 1103 aluminum contract prices finally closed at RMB 16,550/mt,...
