Today, aluminum prices on the London Metal Exchange (LME) declined from recent highs. As of 15:01 Beijing time, the three-month LME aluminum price was quoted at $2,336 per ton, down $14 per ton or 0.57% from the previous trading day’s settlement price. In the Shanghai Futures Exchange (SHFE), the main contract for aluminum (September 2024)
On Wednesday evening, most of the main base metals futures contracts on the Shanghai Futures Exchange fell. Shanghai copper dropped by 0.52% to 78,180 yuan/ton, Shanghai aluminum fell by 0.35% to 19,720 yuan/ton, Shanghai zinc decreased by 1.60% to 23,630 yuan/ton, Shanghai lead rose by 0.28% to 19,860 yuan/ton, Shanghai nickel dropped by 1.80% to
Powell’s dovish stance has once again raised expectations for rate cuts. LME zinc fluctuated overnight, rising slightly by 0.10%. Zinc ingot production in July saw a significant decrease, leading holders to firm prices and narrowing the discount. Traders were actively purchasing, pushing up the bottom price of zinc. It is expected that the spot zinc
Amid the tug-of-war between the US rate cut expectations and demand concerns, LME aluminum dropped 0.88% overnight; Shanghai aluminum’s supply and demand fundamentals are weakening, with spot consumption cautious and lacking in orders. Aluminum ingot social inventories continue to accumulate, suggesting a potential drop in aluminum prices today. The tug-of-war between US rate cut expectations
