LME Aluminum to Swing Widely (2016-9-1)

SHANGHAI, Mar 28 (SMM) – The most-traded SHFE 2205 aluminium contract climbed from 22,720 yuan/mt last Monday to 23,465 yuan/mt on Thursday amid the escalation of Russia-Ukraine war before closing at 23,090 yuan/mt on Friday afternoon, up 260 yuan/mt or 1.14% on the week.

SHANGHAI, Mar 24 (SMM) - Overnight, the most-traded SHFE 2205 aluminium contract opened at 23,260 yuan/mt, with the highest and lowest prices at 23,435 yuan/mt and 23,130 yuan/mt before closing at 23,365 yuan/mt, up 385 yuan/mt or 1.68%.

SHANGHAI, Mar 21 (SMM) - The most-traded SHFE 2005 aluminium contract showed a v-shaped chart last week, opening at 21,880 yuan/mt on Monday, with the lowest and highest prices at 21,235 yuan/mt and 22,880 yuan/mt respectively before closing at 22,830 yuan/mt on Friday afternoon, up 795 yuan/mt or 3.61% on the week.

SHANGHAI, Mar 10 (SMM) – Overnight, the most-traded SHFE 2204 aluminium contract opened at 21,825 yuan/mt, with the highest and lowest prices at 21,825 yuan/mt and 21,205 yuan/mt before closing at 21,300 yuan/mt, down 640 yuan/mt or 2.92%.

SHANGHAI, Mar 4 (SMM) - The most-traded SHFE 2204 aluminium contract opened at 23,810 yuan/mt overnight, and hit a high of 23,870 yuan/mt, but then fell back to 23,525 yuan/mt before closing at 23,655 yuan/mt, up 145 yuan/mt or 0.6%.

SHANGHAI, Mar 3 (SMM) – Aluminium futures on the London Metal Exchange (LME) hit a new record high on Thursday, as the Russia-Ukraine conflict led to further sanctions on Russia, making traders worried about supplies from the Black Sea region.

LME aluminum will run out of steam and range USD 1,910-1,930/mt today.

SHFE 1707 aluminum dipped to RMB 14,040/mt after opening at RMB 14,080/mt on Friday.

LME aluminum will move at highs of USD 1,935-1,965/mt today.

SHFE aluminum will swing more widely next week, while LME aluminum will see range-bound trading, SMM predicts.