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 - 2010/11/26 Base Metals Market
.. SHFE 1102 aluminum contract prices opened slightly lower at RMB 16,260/mt, and later slumped following other base metals prices after briefly surging to RMB 16,305/mt, with prices dipping to a low RMB 16,095/mt. ... SHFE 1102 aluminum contract prices moved steadily, and finally closed at RMB...
SMM Morning Review - 2010/11/29 Aluminum Market
... LME aluminum prices opened at USD 2,269/mt, with the highest level and the lowest level at USD 2,271/mt and USD 2,266/mt, respectively, and finally closed at USD 2,270/mt, down USD 11/mt. Trading volumes increased slightly to 162,352 lots, ....
SMM Daily Review - 2010/11/25 Base Metals Market
... SHFE 1102 aluminum contract prices opened at RMB 16,345/mt, with the lowest level at RMB 16,220/mt, and finally closed at RMB 16,240/mt, down RMB 35/mt. Aluminum prices are expected to continue to fluctuate in a narrow band in view of a lack of speculative funds and sluggish market sentiment....
SMM Daily Review - 2010/11/24 Base Metals Market
... SHFE 1102 aluminum contract prices continued to open lower at RMB 16,210/mt on Wednesday, and later dipped to RMB 16,185/mt. ... RMB 16,290/mt, up 0.22%. Trading sentiment was sluggish, with trading volumes only 33,122 lots. SMM predicts SHFE 1102 aluminum contract prices ...
SMM Morning Review - 2010/11/25 Aluminum Market
... LME aluminum prices opened higher at USD 2,273/mt supported by strong buying at lower prices, but later lost some gains as the US dollar index fluctuated at high levels, with the highest level and the lowest level at USD 2,275/mt and USD 2,259/mt, ...
SMM Daily Review - 2010/11/23 Base Metals Market
.. SHFE 1102 aluminum contract prices climbed to RMB 16,405/mt after opening slightly lower at RMB 16,350/mt, ... SHFE 1102 aluminum contract prices dipping to RMB 16,120/mt, down RMB 235/mt or 1.43%. Positions continued to fall. ...
SMM Morning Review - 2010/11/23 Aluminum Market
... LME aluminum prices opened at USD 2,287/mt, and later fluctuated narrowly given bearish trading sentiment, with the highest level and the lowest level at USD 2,290/mt and USD 2,275/mt, respectively, and finally prices closed at USD 2,288/mt, up USD 24/mt ....
SMM Daily Review - 2010/11/22 Base Metals Market
... SHFE 1102 aluminum contract prices opened at RMB 16,320/mt, and later climbed gradually supported by strong buying at lower prices and strengthening stock markets, with the highest level and the lowest level at RMB 16,480/mt and RMB 16,310/mt, respectively, and finally prices closed at RMB...
SMM Daily Review - 2010/11/19 Base Metals Market
... Shanghai Stock Exchange composite index rebounded. SHFE 1102 aluminum contract prices climbed as a result, with the highest and lowest levels at RMB 16,555/mt and RMB 16,335/mt, respectively, and finally prices closed at RMB 16,490/mt, up RMB 140/mt. ...
SMM Morning Review - 2010/11/22 Aluminum Market
... LME aluminum prices opened at USD 2,290/mt, and later climbed to USD 2,295/mt, but then dipped steadily to a low of USD 2,262/mt following strengthening US dollar index, with prices finally closing at USD 2,264/mt, down USD 41/mt compared with the previous trading day, ...
SMM Daily Review - 2010/11/18 Base Metals Market
... SHFE 1102 aluminum contract prices briefly climbed to RMB 16,495/mt after opening higher at RMB 16,260/mt on Thursday, and later fluctuated following the Shanghai Stock Exchange composite index movements, with prices finally closing at RMB 16,385/mt, up RMB 245/mt or over 1%. ...
SMM Daily Review - 2010/11/17 Base Metals Market
... SHFE 1102 aluminum contract prices rebounding to RMB 16,365/mt after opening at RMB 16,060/mt. However, SHFE 1102 aluminum contract prices lost support ....
SMM Morning Review - 2010/11/16 Aluminum Market
... LME aluminum prices opened at USD 2,380/mt, and later dipped to a low of USD 2,370.5/mt, but rebounded at the tail of trading, with the highest level at USD 2,400/mt. LME aluminum prices finally closed at USD 2,400/mt, ...
SMM Daily Review - 2010/11/15 Base Metals Market
... SHFE 1102 aluminum contract prices advanced rapidly supported by strong buying at lower prices after opening slightly lower at RMB 16,680/mt in the morning session, with the highest prices reported at RMB 16,945/mt. ...
SMM Daily Review - 2010/11/12 Base Metals Market
... SHFE 1102 aluminum contract prices opened at RMB 17,200/mt, and dipped to a low of RMB 16,380/mt, and finally closed at RMB 16,690/mt, down RMB 540/mt, or down 3.13%. ....
SMM Morning Review - 2010/11/15 Aluminum Market
... LME aluminum prices opened at USD 2,456/mt, and later climbed to as high as USD 2,485/mt, but then dipped steadily during the European trading hours, with prices finally closing at USD 2,404/mt, down USD 54/mt ....
SMM Daily Review - 2010/11/10 Base Metals Market
... SHFE aluminum market attracted the focus of investors, but spot markets were sluggish. Suppliers raised offers when SHFE aluminum prices climbed, and supply of goods at RMB 16,610/mt became unavailable rapidly in response, with the highest spot prices reported at RMB 16,620/mt. ...
SMM Morning Review - 2010/11/11 Aluminum Market
... LME aluminum prices opened at USD 2,462/mt, and later dipped to USD 2,425/mt when the US dollar index advanced, but then rebounded slightly at the tail of trading, and finally closed at USD 2,448/mt, ...
