After previous price falls and continued supply concerns, there was optimism about higher demand in China, which led to a 0.65% uptick in aluminium prices yesterday, to end at 232.45. China’s decision to keep its key lending rates at their current levels reflects the limitations placed on its monetary easing initiatives by declining interest rate…
Due in large part to changes in inventory levels and reasons related to the global economy, aluminium prices finished yesterday at 231.5, down 0.43%. Pressure on the market was exacerbated by LME inventories, which more than doubled in just one month, reaching 1.1 million tonnes. Bearish sentiment and fears over oversupply are reflected in the…
Due to yesterday’s higher dollar, better-than-expected US job data, and inconsistent trade data from China, the country’s top metals consumer, aluminium slid 2.5% to 235.6. The US economy produced significantly more jobs last month than anticipated, according to data, which raised the dollar and suggested that the Federal Reserve would postpone starting its easing cycle…
Short-covering activity followed a recent decline in prices caused by a spike in stockpiles reported by the London Metal Exchange (LME) that led to a little uptick in aluminium yesterday, with the metal climbing by 0.54% to settle at 233.95. Data showed that LME warehouses were experiencing a major influx of aluminium, as stockpiles more…
The price of aluminium fell by 1.45%, closing at 230.85. The main cause of this decrease was a notable rise in the overall amount of aluminium stored in warehouses registered with the London Metal Exchange. Based on daily LME statistics, the accumulation of aluminium stockpiles surged by 88% to 903,850 metric tonnes, the largest level…
Aluminium prices saw a minor decrease of -0.59%, ending at 235.4, due to investors booking profits after previous advances spurred by supply fears due to sanctions on Russian metals. The actions taken by Washington and London to limit exchanges’ acceptance of aluminium produced in Russia had an additional effect on market dynamics. According to LME…
