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 - 2010/8/11 Aluminum Market
... LME base metals prices closed with declines yesterday. LME aluminum prices opened at USD 2,185/mt, with the highest level and the lowest level at USD 2,185/mt and USD 2,150/mt, respectively, and finally ended at USD 2,170/mt, down USD 12/mt ...
SMM Daily Review - 2010/8/9 Base Metals Market
... SHFE aluminum prices opened slightly higher following other base metals in the morning session, and SHFE 1011 aluminum contract prices opened at the intraday low of RMB 15,685/mt, with the upward momentum significantly weaker than copper and zinc prices. SHFE 1011 aluminum contract prices later...
SMM Morning Review - 2010/8/10 Aluminum Market
... LME aluminum posted the weakest performance among all base metals on August 9th. LME aluminum prices opened at USD 2,211/mt, with the highest level and the lowest level at USD 2,215/mt and USD 2,180/mt, respectively, and finally ended at USD 2,182/mt, down USD ....
SMM Daily Review - 2010/8/6 Base Metals Market
... SHFE aluminum prices fluctuated weakly after opening low negatively affected by weak LME aluminum prices, and SHFE 1011 aluminum contract prices opened at RMB 15,610/mt, and later dipped to RMB 15,580/mt. However, SHFE 1011 aluminum contract prices picked up to RMB 15,695/mt ....
SMM Daily Review - 2010/8/5 Base Metals Market
...SHFE aluminum prices opened higher but moved lower, and SHFE 1011 aluminum contract prices opened at RMB 15,715/mt, and later climbed to RMB 15,810/mt temporarily...
SMM Morning Review - 2010/8/6 Aluminum Market
...LME base metals prices closed with declines yesterday. LME aluminum prices opened at USD 2,230/mt, with the highest level and the lowest level at USD 2,230/mt and USD 2,195/mt, respectively, and finally ended at USD 2,203/mt, down USD 25/mt compared with the previous trading day, or down 1.1%....
SMM Daily Review - 2010/8/4 Base Metals Market
...SHFE 1011 aluminum contract prices opened slightly lower at RMB 15,645/mt negatively affected by LME aluminum prices, with prices mainly fluctuating at low levels...
SMM Daily Review - 2010/8/4 Base Metals Market
... SHFE 1011 aluminum contract prices opened slightly lower at RMB 15,645/mt negatively affected by LME aluminum prices, with prices mainly fluctuating at low levels in the morning session. SHFE 1011 aluminum contract prices rebounded in the afternoon stimulated by recovering domestic A-share...
SMM Daily Review - 2010/8/3 Base Metals Market
...SHFE aluminum prices opened higher but moved lower, and SHFE 1011 aluminum contract prices opened at RMB 15,900/mt, and later climbed to RMB 15,930/mt temporarily, and finally closed at RMB 15,685/mt, down RMB 40/mt compared with the previous trading day, or down 0.25%...
SMM Morning Review - 2010/8/3 Aluminum Market
...LME base metals prices extended gains yesterday. LME aluminum prices opened at USD 2,170/mt, with the highest level and the lowest level at USD 2,230/mt and USD 2,160/mt, respectively, and finally ended at USD 2,217/mt, up USD 47/mt compared with the previous trading day, or up 2.2%. Total...
SMM Morning Review - 2010/8/4 Aluminum Market
...LME base metals prices posted small declines yesterday. LME aluminum prices opened at USD 2,235/mt, with the highest level and the lowest level at USD 2,235/mt and USD 2,198/mt, respectively, and finally ended at USD 2,204/mt, down USD 13/mt compared with the previous trading day, or down 0.6%....
SMM Daily Review - 2010/7/30 Base Metals Market
...SHFE 1010 aluminum contract prices opened flat at RMB 15,405/mt on July 30 th, and fell back to RMB 15,315/mt after soaring to RMB 15,430/mt temporarily...
SMM Morning Review - 2010/8/2 Aluminum Market
...LME base metals prices soared last Friday. LME aluminum prices opened at USD 2,095/mt, with the highest level and the lowest level at USD 2,175/mt and USD 2,090/mt, respectively, and finally ended at USD 2,170/mt, up USD 76/mt compared with the previous trading day, or up 3.6%. Total trading...
SMM Daily Review - 2010/7/28 Base Metals Market
... SHFE aluminum prices opened lower but moved higher yesterday, and SHFE 1010 aluminum contract prices opened at RMB 15,285/mt, but later dipped slightly to RMB 15,280/mt. The upward momentum in SHFE aluminum prices was weaker in the morning session,...
SMM Daily Review - 2010/7/27 Base Metals Market
... SHFE 1010 aluminum contract prices opened slightly higher at RMB 15,385/mt, but later slipped as a result of weaker base metals market in the morning session. SHFE 1010 aluminum contract prices dipped to RMB 15,280/mt, and picked up to RMB 15,415/mt temporarily in the afternoon, and finally...
SMM Daily Review - 2010/7/26 Base Metals Market
... SHFE base metals prices generally opened high on July 26th, but SHFE aluminum prices were weaker than other base metals in the morning session. SHFE 1010 aluminum contract prices opened at RMB 15,270/mt, and later fluctuated lower to RMB 15,215/mt. The rally in China's A-share markets at noon...
SMM Daily Review - 2010/7/21 Base Metals Market
... SHFE base metals prices opened slightly higher yesterday, and SHFE 1010 aluminum contract prices opened at RMB 15,030/mt, and later climbed to RMB 15,080/mt temporarily ....
SMM Daily Review - 2010/7/20 Base Metals Market
... Although LME aluminum prices were weak, SHFE aluminum prices opened slightly higher led by other base metals prices, with prices fluctuating in a narrow band in the morning session. SHFE 1010 aluminum contract prices opened at RMB 14,925/mt,...
