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 - 2010/9/29 Aluminum Market
... LME aluminum prices opened at USD 2,279/mt, with the highest level and lowest level at USD 2,320/mt and USD 2,268/mt, respectively, and finally prices closed at USD 2,309/mt, up USD 16/mt compared with the previous trading day, or up 0.7%. ...
SMM Morning Review - 2010/9/28 Aluminum Market
... LME aluminum prices opened at USD 2,301/mt, with prices mainly fluctuating narrowly in the morning session, and with the highest prices reported at USD 2,315/mt. However, negatively affected by falling Dow Jones Industrial Average and strengthening US dollar index, ...
SMM Daily Review - 2010/9/28 Base Metals Market
... SHFE 1012 aluminum contract prices opened higher at RMB 15,985/mt on Monday, but still lacked upward momentum, with prices mainly fluctuating in a narrow band after falling from a high open in the morning session, and with the lowest prices reported at RMB 15,810/mt. ...
SMM Morning Review - 2010/9/27 Aluminum Market
... LME aluminum prices opened at an intraday low of USD 2,280.5/mt, with the highest prices reported at USD 2,336/mt, and finally prices lost some gains and closed at USD 2,315/mt, up USD 30/mt, or up 1.31%.....
SMM Morning Review - 2010/9/21 Aluminum Market
... LME aluminum prices opened at USD 2,200/mt, and later climbed to as high as USD 2,220/mt, and then reversed previous gains and closed at USD 2,195/mt, up USD 13/mt, or up 0.6%. ....
SMM Daily Review - 2010/9/20 Base Metals Market
... LME aluminum prices, SHFE aluminum prices opened higher on Monday, with SHFE 1012 aluminum contract prices opening at RMB 15,725/mt. SHFE 1012 aluminum ....
SMM Daily Review - 2010/9/17 Base Metals Market
... SHFE aluminum prices were weaker than LME aluminum prices, with SHFE 1012 aluminum contract prices opening slightly higher at RMB 15,655/mt. ...
SMM Morning Review - 2010/9/19 Aluminum Market
... LME aluminum prices opened at USD 2,163.5/mt, with the highest level and lowest level at USD 2,214/mt and USD 2,156.3/mt, respectively. ...
SMM Morning Review - 2010/9/20 Aluminum Market
... LME base metals prices closed with gains last Friday, and LME aluminum prices showed signs of rising further ...., with SHFE 1012 aluminum contract prices testing RMB 15,700/mt. If the Shanghai Stock Exchange composite index shows positive performance today, SHFE 1012 aluminum contract prices...
SMM Morning Review - 2010/9/14 Aluminum Market
...China's macro economic data for August released last Saturday was positive, improving demand outlook. Meanwhile, presidents of the world's major central banks reached a reform agreement at a conference held in Basel...
SMM Daily Review - 2010/9/8 Base Metals Market
... LME aluminum prices dragged down SHFE aluminum prices, with SHFE 1012 aluminum contract prices falling to as low as RMB 15,750/mt after opening at RMB 15,825/mt. ...
SMM Morning Review - 2010/9/8 Aluminum Market
... LME aluminum prices faced heavy pressure at USD 2,200/mt as new macro economic news was negative. LME aluminum prices opened at USD 2,190/mt, ...
SMM Daily Review - 2010/9/2 Base Metals Market
... SHFE aluminum prices jumped yesterday, and SHFE 1012 aluminum contract prices advanced further after opening at RMB 15,665/mt, but faced heavy pressure at RMB 15,700/mt, and later underwent downward corrections after briefly climbing to RMB 15,720/mt ...
SMM Morning Review - 2010/9/3 Aluminum Market
... LME aluminum prices moved higher all the way after opening at USD 2,105/mt, and finally closed at the daily high of USD 2,145/mt, up USD 37/mt compared with the previous trading day, or up 1.8%. ...
SMM Daily Review - 2010/8/31 Base Metals Market
... SHFE aluminum prices moved lower following other base metals prices, with SHFE 1012 aluminum contract prices opening at RMB 15,600/mt. ...
SMM Morning Review - 2010/9/1 Aluminum Market
... SHFE aluminum prices opened at USD 2,055/mt, with the highest level and lowest level at USD 2,074/mt and USD 2,040/mt, respectively, and finally prices ended at USD 2,058/mt, ...
SMM Daily Review - 2010/9/1 Base Metals Market
... SHFE aluminum prices showed strong performance after opening slightly lower, and SHFE 1012 aluminum contract prices opened at an intraday low of RMB 15,480/mt, with prices later climbing to RMB 15,625/mt. ...
SMM Morning Review - 2010/9/2 Aluminum Market
... SHFE aluminum prices opened at USD 2,060/mt, with prices easily breaking through the USD 2,100/mt mark, to an intraday high of USD 2,119/mt, and finally prices ended at USD 2,108/mt, ...
