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 - 2010/8/30 Base Metals Market
... LME aluminum prices strengthened continuously, helping SHFE aluminum prices move higher, with SHFE 1012 aluminum contract prices opening at RMB 15,520/mt. ...
SMM Morning Review - 2010/8/31 Aluminum Market
... LME aluminum prices fell slightly to USD 2,050/mt on the electronic trading this morning in response. ...
SMM Daily Review - 2010/8/27 Base Metals Market
... SHFE aluminum prices were weak on August 27th despite that LME aluminum prices surged and SHFE copper and zinc prices posted significant gains, and SHFE 1011 aluminum contract prices slipped gradually after opening slightly higher at RMB 15,375/mt, ...
SMM Morning Review - 2010/8/30 Aluminum Market
... LME aluminum prices opened at USD 2,030/mt, and later dipped to as low as USD 2,010/mt. At the tail of trading, LME aluminum prices soared to USD 2,076/mt, and finally closed at USD 2,058/mt, ...
SMM Morning Review - 2010/8/27 Aluminum Market
... LME aluminum prices opened at USD 2,010/mt, and later climbing to USD 2,040/mt, and finally prices closed at USD 2,033/mt, up USD 30/mt, or up 1.5%. Total trading volumes were 94,196 lots, and total positions increased by 6,911 lots....
SMM Daily Review - 2010/8/25 Base Metals Market
... SHFE 1011 aluminum contract prices opened slightly lower at RMB 15,305/mt, and reported limited fluctuations in the morning session when SHFE copper and zinc prices fluctuated widely. ....
SMM Daily Review - 2010/8/24 Base Metals Market
... SHFE aluminum prices fell slower compared with other base metals in the morning session. SHFE 1011 aluminum contract prices opened at RMB 15,305/mt, and later climbed to RMB 15,400/mt driven ....
SMM Morning Review - 2010/8/24 Aluminum Market
... LME aluminum prices opened at USD 2,055/mt, with the highest level and lowest level at USD 2,072/mt and USD 2,038/mt, respectively, and finally prices ended USD 2,044/mt, up USD 4/mt, or up 0.2%. Total trading volumes were 132,064 lots,...
SMM Daily Review - 2010/8/19 Base Metals Market
... SHFE aluminum prices slipped first but moved higher later. SHFE 1011 aluminum contract prices opened at RMB 15,510/mt in the morning session, but later dipped to RMB 15,415/mt due to weakening stock markets....
SMM Daily Review - 2010/8/17 Base Metals Market
... SHFE 1011 aluminum contract prices fluctuated higher after opening at RMB 15,500/mt. China’s A-shares rebounded, and moved toward the previous high of 2,680 points at closing, helping drive up SHFE aluminum prices to RMB 15,575/mt. ...
SMM Morning Review - 2010/8/19 Aluminum Market
... LME aluminum prices opened at USD 2,145/mt, and later moved lower gradually, with prices even dipping to USD 2,093/mt, and finally prices reversed some losses and ended at USD 2,105/mt, down USD 36/mt compared with the previous trading day, or down 1.7%. ...
SMM Daily Review - 2010/8/18 Base Metals Market
... SHFE 1011 aluminum contract prices opened slightly higher at RMB 15,550/mt, and later China's A-shares surged to a three-month high of 2,687 points at 10:00 am, and SHFE 1011 aluminum contract prices lost previous gains in response after soaring to RMB 15,635/mt. ...
SMM Daily Review - 2010/8/16 Base Metals Market
... LME aluminum prices closed with declines last Friday, SHFE aluminum prices fell at a slower pace yesterday supported by positive domestic stock markets. SHFE 1011 aluminum contract prices opened lower but moved higher, with prices opening at RMB 15,430/mt. ....
SMM Morning Review - 2010/8/16 Aluminum Market
... LME aluminum prices opened at USD 2,160/mt, with the highest level and the lowest level at USD 2,170/mt and USD 2,110/mt, respectively, and finally ended at USD 2,110/mt, down USD 53.5/mt compared with the previous trading day, or down 2.47%....
SMM Daily Review - 2010/8/12 Base Metals Market
... Negatively affected by slumping LME aluminum prices, SHFE 1011 aluminum contract prices fluctuated weakly after opening lower at RMB 15,420/mt, and later China's A-shares opened at 2,584 points, failing to hold steady at 2,600 points, and aluminum prices plummeted to RMB 15,225/mt in response....
SMM Daily Review - 2010/8/11 Base Metals Market
... SHFE 1011 aluminum contract prices opened slightly lower at RMB 15,555/mt, and later China released a series of economic data including CPI and PPI, helping push up aluminum prices to hit RMB 15,590/mt. ....
SMM Morning Review - 2010/8/12 Aluminum Market
... LME base metals prices closed with declines yesterday. LME aluminum prices opened at USD 2,175/mt, with the highest level and the lowest level at USD 2,175/mt and USD 2,140/mt, respectively, and finally ended at USD 2,142/mt, down USD 28/mt ....
SMM Daily Review - 2010/8/10 Base Metals Market
... SHFE aluminum prices opened slightly lower negatively affected by falling LME aluminum prices, and SHFE 1011 aluminum contract prices opened at the 5-day moving average of RMB 15,705/mt. ...
