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 - 2010/11/9 Base Metals Market
... SHFE 1102 aluminum contract prices climbed to as high as RMB 17,230/mt in the morning session following other base metals prices after opening at RMB 17,000/mt. ... aluminum contract prices lost some previous gains in the afternoon session, and finally closed at RMB 17,125/mt, up RMB 45/mt. ...
SMM Morning Review - 2010/11/9 Aluminum Market
... LME base metals prices generally closed with declines. LME aluminum prices opened at an intraday high of USD 2,437/mt, and later dipped gradually, and finally closed at a low of USD 2,429/mt, down USD 23/mt compared with the previous trading day, or down 0.9%. ...
SMM Daily Review - 2010/11/8 Base Metals Market
... SHFE 1102 aluminum contract prices opening at RMB 17,165/mt. Although the Shanghai Stock Exchange composite index fluctuated higher, the profit-taking by long investors caused SHFE 1102 aluminum contract prices to drop after briefly climbing to RMB 17,200/mt, with prices hitting a low of RMB...
SMM Morning Review - 2010/11/8 Aluminum Market
... LME aluminum prices opened at USD 2,459/mt, and later climbed to USD 2,488/mt, and then weakened to a low of USD 2,438.5/mt, and finally closed at USD 2,452/mt, down USD 8/mt compared with the previous trading day. Trading volumes shrank slightly, and LME aluminum inventories declined by 10,000...
SMM Daily Review - 2010/11/5 Base Metals Market
... SHFE 1102 aluminum contract prices jumped to RMB 16,980/mt after opening, and later advanced rapidly to as high as RMB 17,310/mt. The Shanghai Stock Exchange composite index stabilized at 3,100 points after opening, allowing buyers to enter SHFE aluminum market continuously. SHFE 1102 aluminum...
SMM Morning Review - 2010/11/5 Aluminum Market
... LME aluminum prices opened at USD 2,456/mt, and later set a new high of USD 2,470/mt during the European trading hours, breaking the record high in late April 2010, and finally prices closed at USD 2,460/mt, up USD 43/mt, or up nearly 2%. ....
SMM Daily Review - 2010/11/4 Base Metals Market
... SHFE 1102 aluminum contact prices also reversed previous session’s loss and climbed further, with the lowest level and the highest level at RMB 16,725/mt and RMB 16,880/mt, respectively, and finally prices closed at RMB 16,875/mt, up RMB 55/mt. ...
SMM Morning Review - 2010/11/4 Aluminum Market
... LME aluminum prices opened at USD 2,446/mt, and later moved steadily, but then fell gradually during the European trading hours, with the highest level and the lowest level at USD 2,448/mt and USD 2,407/mt, respectively, and finally prices closed at USD 2,417/mt, down USD 13/mt. ...
SMM Daily Review - 2010/11/3 Base Metals Market
... SHFE 1102 aluminum contract prices opened higher at RMB 16,840/mt in the morning session, and later fell back after briefly soaring to RMB 16,910/mt, with the lowest prices reported at RMB 16,700/mt, and finally prices closed at RMB 16,725/mt, only up 0.06%. ...
SMM Morning Review - 2010/11/2 Aluminum Market
... LME aluminum prices opened at USD 2,393/mt, with the highest level and the lowest level at USD 2,398/mt and USD 2,370/mt, respectively, and finally prices closed at USD 2,372/mt, up USD 27/mt compared with the previous trading day, or up 1.2%. ...
SMM Daily Review - 2010/11/1 Base Metals Market
... SHFE 1101 aluminum contract prices opened at RMB 16,505/mt, with the highest level and the lowest level at RM 16,665/mt and RMB 16,500/mt, and finally closed at RMB 16,560/mt, up RMB 100/mt compared with the pervious trading day, or up 0.61%. ...
SMM Morning Review - 2010/11/3 Aluminum Market
... LME aluminum prices opened at an intraday low of USD 2,380/mt, and later climbed gradually to USD 2,437/mt, and finally closed at USD 2,430/mt, up USD 58/mt compared with the previous trading day, or up 2.4%. Total positions continued to grow, while LME aluminum inventories declined by 5,400 mt...
SMM Daily Review - 2010/11/2 Base Metals Market
... SHFE 1101 aluminum contract prices slipped gradually in the morning session after opening lower at RMB 16,555/mt,... RMB 16,650/mt and RMB 16,460/mt, respectively, and finally prices closed at RMB 16,525/mt, down RMB 55/mt, or down 0.33%. ...
SMM Daily Review - 2010/10/29 Base Metals Market
... SHFE 1101 aluminum contract prices opening at RMB 16,415/mt. SHFE 1101 aluminum contract prices ... and finally SHFE 1101 aluminum contract prices closed at RMB 16,420/mt, down RMB 20/mt, or down 0.12%. ...
SMM Morning Review - 2010/11/1 Aluminum Market
... LME aluminum prices opened at USD 2,327/mt, with the highest level reported at USD 2,350/mt, and finally prices closed at USD 2,345/mt, down USD 2/mt compared with the previous trading day, ...
SMM Daily Review - 2010/10/28 Base Metals Market
... SHFE 1101 aluminum contract prices opened lower at RMB 16,385/mt on Thursday, ... RMB 16,495/mt and RMB 16,350/mt, respectively, and finally prices closed at RMB 16,425/mt, down RMB 140/mt compared with the previous trading day, or down 0.85%. ...
SMM Daily Review - 2010/10/27 Base Metals Market
... SHFE 1101 aluminum contract prices opened slightly higher at RMB 16,745/mt, and later fell continuously following the Shanghai Stock Exchange composite index after briefly climbing to RMB 16,765/mt, ...
SMM Morning Review - 2010/10/27 Aluminum Market
... LME aluminum prices opened at USD 2,372/mt, and climbed steadily during European trading hours, but later fluctuated and finally closed at USD 2,390/mt, ...
