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 should continue struggling around moving averages and range USD 1,903-1,917/mt today.

SHFE 1709 aluminum opened at RMB 14,455/mt on Tuesday.

SHFE 1709 aluminum rose sharply on Monday as lots of positive news attracted longs to raise bullish bets.

Aluminum will underperform other base metals this week, given the lack of further production cuts and poor market fundamentals, SMM predicts.