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Home / Metal News / SMM Aluminum Market Morning Review (2015-1-26)

SMM Aluminum Market Morning Review (2015-1-26)

Jan 26, 2015 09:53

Source:SMM

The US dollar index climbed above 95 following the ECB’s announcement of QE.

SHANGHAI, Jan. 26 (SMM) – The US dollar index climbed above 95 following the ECB’s announcement of QE. As a consequence, LME aluminum dropped to USD 1,827/mt after opening last Friday at USD 1,863/mt. Trading volumes decreased 561 lots to 14,738 lots, with positions up 12,481 to 783,252.

Last Friday night, SHFE 1503 aluminum contract was range-bound after starting at RMB 12,790/mt, and finished the night session at RMB 12,785/mt. Trading volumes totaled 8,102 lots, with positions down 610 to 121,810.

The most active SHFE aluminum contract should move between RMB 12,700-12,780/mt on Monday. In China’s spot market, demand will soften further, with spot discounts of RMB 40-80/mt expected over SHFE 1502 aluminum contract.

LME aluminum prices

SHFE aluminum prices

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Without stimulus from new capacity cut program, aluminum prices are expected to drop slightly this week, SMM predicts.

May 22, 2017 10:39

SMM Insight Industry

Aluminum Prices to Lose Upward Momentum This Week, SMM Expects

About 57% of Chinese Aluminum Smelters Expect Aluminum Prices to Stabilize This Week, SMM Survey

About 57% of the 46 Chinese aluminum smelters surveyed by SMM expect aluminum prices to stabilize this week.

May 4, 2016 10:27

SMM Comments

About Half of Chinese Aluminum Smelters See Aluminum Prices Rise This Week, SMM Survey

About half of the 48 Chinese aluminum smelters surveyed by SMM expect aluminum prices to rise this week.

Apr 12, 2016 10:13

SMM Comments

LME Aluminum to Gather More Strength Next Week

LME aluminum will gather more rising steam this coming week on positive sentiment in Chinese market, SMM sees.

Mar 6, 2016 10:11

SMM Insight

SHFE Aluminum to Hover at Highs (2016-3-3)

SHFE 1605 aluminum has found solid support at the 5-day moving average, and should move highs at RMB 11,300-11,420/mt on Thursday.

Mar 3, 2016 09:17

SMM Comments

SHFE Aluminum Breaks Through RMB 11,000/mt (2016-2-16)

SHFE 1604 aluminum opened at RMB 10,900/mt on Tuesday.

Feb 16, 2016 16:47

SMM Comments

About 51% of Chinese Aluminum Smelters Bearish toward Aluminum Prices This Week, SMM Survey

About 51% of the 35 Chinese aluminum smelters surveyed by SMM see aluminum prices fall this week.

Feb 2, 2016 10:27

SMM Comments

[Al Price] SMM Aluminum Market Morning Review (2015-7-30)

LME aluminum fell to USD 1,655/mt after opening at USD 1,664/mt on Wednesday due to a stronger US dollar.

Jul 30, 2015 09:03

SMM Comments

[Al Price] SMM Aluminum Market Morning Review (2015-7-24)

Encouraging US initial jobless claims supported the US dollar index.

Jul 24, 2015 09:13

SMM Comments

SHFE Aluminum Falls for Three Consecutive Days (Feb. 11, 2015)

On Tuesday night, SHFE 1504 aluminum contract dropped below the 10-day moving average after starting at RMB 13,125/mt, and finished the night session at RMB 13,060/mt.

Feb 11, 2015 18:04

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