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 - 2010/10/26 Base Metals Market
... SHFE aluminum prices on Monday, with SHFE 1101 aluminum contract prices opened high at RMB 16,620/mt. SHFE 1101 aluminum contract prices ...
SMM Daily Review - 2010/10/22 Base Metals Market
... SHFE 1101 aluminum contract prices opened at an intraday low of RMB 16,330/mt on Friday, and then moved steadily with sluggish transactions. SHFE 1101 aluminum contract prices ...
SMM Daily Review - 2010/10/20 Base Metals Market
... SHFE 1101 aluminum contract prices opened significantly lower at RMB 16,155/mt ... SHFE 1101 aluminum contract prices regained previous losses, with the highest level and the lowest level at RMB 16,410/mt and RMB 16,130/mt,...
SMM Morning Review - 2010/10/21 Aluminum Market
... LME aluminum prices opened at USD 2,356/mt, and later moved in a narrow band, with the highest level and the lowest level at USD 2,367/mt and USD 2,356/mt,...
SMM Morning Review - 2010/10/20 Aluminum Market
... LME aluminum prices opened at USD 2,424/mt, and later moved lower continuously during the European trading period. At the tail of trading, LME aluminum prices fell again after short-term gains, with the highest level and the lowest level at USD 2,423/mt and USD 2,342/mt,....
SMM Daily Review - 2010/10/19 Base Metals Market
... SHFE 1101 aluminum contract prices opened high at RMB 16,520/mt, but later lost gains gradually as the Shanghai Stock Exchange composite index fell from high levels. In the afternoon session, ...
SMM Daily Review - 2010/10/18 Base Metals Market
... SHFE aluminum prices opened lower but moved higher on Monday, and SHFE 1101 aluminum contract prices rebounded after opening at RMB 16,390/mt. ...
SMM Morning Review - 2010/10/19 Aluminum Market
... LME aluminum prices opened flat at RMB 2,377/mt, and later climbed gradually to an intraday high of USD 2,420/mt, and finally closed at USD 2,418/mt, up USD 41/mt ...
SMM Daily Review - 2010/10/15 Base Metals Market
... SHFE 1101 aluminum contract prices fell rapidly to as low as RMB 16,320/mt after opening lower at RMB 16,480/mt ....
SMM Morning Review - 2010/10/18 Aluminum Market
... LME aluminum prices opened at USD 2,405/mt, and later dipped all the way to as low as USD 2,377/mt, down USD 33/mt compared with the previous trading day, or down 1.4%. ...
SMM Daily Review - 2010/10/12 Base Metals Market
... SHFE 1101 aluminum contract prices opened slightly lower at RMB 16,520/mt on Tuesday due to heavy selling pressure, with prices mainly fluctuating in a narrow band. Although the Shanghai Stock Exchange Composite Index (SSE Composite Index) strengthened to 2,843.43 points ...
SMM Morning Review - 2010/10/13 Aluminum Market
... LME aluminum prices opened at USD 2,415/mt, and advanced to touch USD 2,438/mt after the ending of Asian trading hours, setting a new high, and finally prices closed at USD 2,437/mt, up USD 37/mt ...
SMM Morning Review - 2010/10/12 Aluminum Market
... LME aluminum prices opened at USD 2,421/mt, and fluctuated during Asian trading hours, with the highest prices reported at USD 2,424/mt. LME aluminum prices finally closed at an intraday low of USD 2,400/mt,...
SMM Daily Review - 2010/10/11 Base Metals Market
... SHFE 1101 aluminum contract, the most actively-traded contract, opened higher at RMB 16,350/mt positively affected by LME aluminum prices,...
SMM Morning Review - 2010/10/11 Aluminum Market
... LME aluminum prices post a larger gain than other base metals. Last Friday, LME aluminum prices opened at USD 2,342/mt, ... LME aluminum prices helped SHFE aluminum prices rise further after a open high this morning, and SHFE 1012 aluminum ...
SMM Morning Review - 2010/10/8 Aluminum Market
... LME aluminum prices set several new highs consecutively during the holidays, and even climbed to above USD 2,400/mt on October 6th, setting a new high since April 22nd, 2010. On October 7th, LME aluminum prices advanced to RMB 2,390/mt after opening at USD 2,362/mt,...
SMM Daily Review - 2010/9/29 Base Metals Market
... SHFE 1012 aluminum contract prices opened flat at RMB 15,920/mt, and fell again after soaring to RMB 16,000/mt in the morning session. SHFE 1012 aluminum contract prices even dipped to RMB 15,855/mt ....
SMM Daily Review - 2010/9/28 Base Metals Market
... SHFE 1012 aluminum contract prices opened slightly lower at RMB 15,870/mt, but later climbed to RMB 16,000/mt, with prices even hitting an intraday high of RMB 16,020/mt. ...
