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…
Short covering and worries about a lack of supply on the international market caused aluminium prices to jump by 1.07% yesterday, closing at 235.5. At a substantial discount of $62.44 per tonne to the three-month contract, the largest since August 2007, the London Metal Exchange (LME) cash aluminium contract was traded. The reason behind this…
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…
Aluminum prices increased by 1.07% to reach 241.65 as a result of increased confidence over prospective rate cuts by central banks and their expected benefits for economic expansion. Gains were restrained, nevertheless, by worries about the market’s weak demand. An important intermediate component in the manufacturing of aluminum, alumina, has become scarce as a result…
Aluminium prices rose 0.36% Tuesday, finishing at 207.7, on concerns about the slow rebound in production in China’s Yunnan province. However, the upside was limited due to softer domestic monetary policy expectations and a stronger dollar. Investors remained cautious, anticipating signs of a resurgence in demand from China, the world’s largest metals buyer. Worries about…
The previous session saw an increase in aluminium prices of 0.17%, finishing at 204.3, as the market anticipated seasonally increased demand. Gains were, nevertheless, restrained by abundant supplies from China, the world’s largest aluminium manufacturer. Notwithstanding worries about China’s rising inventory levels, analysts speculate that the rise may be a seasonal occurrence ahead of the…
As worldwide primary aluminium output climbed 3.9% YoY to 6.116 million tonnes in October, prices for the metal stayed stable at 203.45, according to figures from the International Aluminium Institute (IAI). China’s main imports of aluminium from January to October increased 173% year over year to 1.17 million metric tons, while exports fell 41.19% to…
The price of aluminium closed at 203.85 after declining by -0.54%. Remarkably, the International Aluminium Institute (IAI) revealed that global primary aluminium output reached 5.871 million tonnes in September, up 2.7% year over year. In September, China’s aluminium production increased by 5.3%, and for the first nine months of the year, it increased by 3.3%….
