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 - 2010/12/21 Aluminum Market
... LME aluminum prices opened at USD 2,338/mt, and later rallied steadily, with prices finally closing at USD 2,378/mt, up 1.84%. LME aluminum inventories fell by 4,700 mt to 4,282,900 mt. SHFE aluminum prices opened slightly higher today, ...
SMM Morning Review - 2010/12/20 Aluminum Market
... LME aluminum prices hit the lowest USD 2,323/mt and reached the highest at USD 2,336/mt, with price ending at USD 2,335/mt, up by USD 20/mt or 0.86% from a day earlier ....
SMM Daily Review - 2010/12/17 Base Metals Market
... SHFE 1103 aluminum contract prices, the most active one, opened at RMB 16,540/mt and closed at RMB 16,570/mt, up RMB 15/mt, with the highest and lowest level of RMB 16,605/mt and RMB 16,540/mt, respectively. ...
SMM Daily Review – 2010/12/15 Base Metals Market
... SHFE aluminum market finally lost most gains due to continuously weak movements in the neighboring base metal markets, to close at RMB 16,540/mt, only up RMB 15/mt. Trading volumes in the SHFE aluminum market improved on Wednesday, ...
SMM Morning Review - 2010/12/15 Aluminum Market
... LME aluminum prices opened higher at USD 2,370/mt, and then kept fluctuating, and finally lost some gains in response to a stronger US dollar at the tail of trading and closed at USD 2,351/mt, up USD 21/mt compared with the previous trading day, or up 0.9%. ...
SMM Daily Review – 2010/12/14 Base Metals Market
... SHFE 1103 aluminum contract prices opened at a high of RMB 16,585/mt on Tuesday, but withdrawal of long positions after profit-taking caused aluminum prices to fall rapidly. SHFE 1103 aluminum contract prices hit a low of RMB 16,495/mt, and later fluctuated narrowly around RMB 16,500/mt, and...
SMM Daily Review – 2010/12/13 Base Metals Market
... SHFE 1103 aluminum contract prices opened slightly lower at RMB 16,400/mt on Monday, but later advanced steadily driven up by other base metals prices, and stabilized above short-term moving averages. SHFE 1103 aluminum contract prices climbed further to RMB 16,585/mt in the afternoon session,...
SMM Morning Review - 2010/12/14 Aluminum Market
... LME aluminum prices to a high of USD 2,340/mt, and LME aluminum prices lost some gains at the tail of trading and finally closed at USD 2,330/mt, up USD 22/mt compared with the previous trading day. Transactions improved significantly, and total trading volumes were near 300,000 lots. LME...
SMM Daily Review – 2010/12/10 Base Metals Market
... SHFE aluminum prices, with the highest prices reported at RMB 16,455/mt. SHFE 1103 aluminum contract prices finally closed at RMB 16,450/mt, down 0.18%, and SHFE aluminum was the only one metal closing with declines. ....
SMM Daily Review – 2010/12/9 Base Metals Market
... SHFE 1103 aluminum contract prices opened higher at RMB 16,545/mt positively affected by soaring LME aluminum prices, but later fell rapidly due to profit-taking by long investors and low optimistic sentiment. In addition, ... SHFE 1103 aluminum prices moved lower gradually, with the highest...
SMM Daily Review – 2010/12/8 Base Metals Market
... SHFE 1103 aluminum contract prices opened slightly lower at RMB 16,420/mt, and later climbed to RMB 16,455/mt. However, the Shanghai Stock Exchange composite index remained weak, and SHFE 1103 aluminum contract prices slipped gradually as well, with the lowest prices reported at RMB 16,355/mt,...
SMM Daily Review – 2010/12/7 Base Metals Market
... 1103 aluminum contract prices dipped continuously to RMB 16,410/mt after opening slightly lower at RMB 16,455/mt. SHFE 1103 aluminum contract prices rebounded following recovering Shanghai Stock Exchange composite index, and finally closed at RMB 16,505/mt, ...
SMM Daily Review – 2010/12/6 Base Metals Market
... SHFE aluminum prices continued to fluctuate in a narrow band, and trading sentiment remained sluggish. SHFE 1103 aluminum contract prices briefly climbed to RMB 16,540/mt after opening slightly higher at RMB 16,510/mt, and later followed the Shanghai Stock Exchange composite index trends, with...
SMM Daily Review – 2010/12/3 Base Metals Market
... SHFE 1103 aluminum contract prices dipped gradually after opening lower at RMB 16,505/mt, hitting a low of RMB 16,440/mt. SHFE 1103 aluminum contract prices briefly climbed to RMB 16,560/mt in the afternoon as the Shanghai Stock Exchange composite index recovered, ....
SMM Daily Review - 2010/12/1 Base Metals Market
... SHFE 1102 aluminum contract prices opened slightly lower at RMB 16,190/mt, and were weaker than other base metals prices in the morning session, with the lowest prices reported at RMB 16,150/mt. SHFE 1102 aluminum contract prices climbed to RMB 16,220/mt in the afternoon session driven up by...
SMM Morning Review - 2010/12/2 Aluminum Market
... LME aluminum prices advanced steadily after opening at USD 2,310/mt, and touched a high of USD 2,355/mt, and finally closed at USD 2,340/mt, with prices standing above all moving averages, up USD 65/mt, or up nearly 3%. Positions fell slightly, ...
SMM Morning Review - 2010/12/1 Aluminum Market
... LME aluminum prices, and LME aluminum prices dipped to USD 2,268/mt from a open of USD 2,275/mt. ... LME aluminum prices reversed previous losses, and rallied to USD 2,287/mt, and finally closed at USD 2,275/mt, up USD 5/mt. ...
SMM Morning Review - 2010/11/30 Aluminum Market
... LME aluminum prices were stronger than other base metals prices, and climbed to USD 2,278/mt after opening at USD 2,276/mt, but later fell rapidly to a low of USD 2,254/mt. As the US dollar index underwent downward corrections at the end of trading, ...
