Primary aluminium weekly: China welcomes global aluminium industry participants for its ‘Aluminium China 2023’ exhibition
The primary aluminium sector has been witnessing shallow activity for the past few months. With the augmented prices of energy, the entire aluminium industry is now in search of effective methods that can significantly reduce their carbon emissions. Shanghai is getting ready for the ever so fascinating ‘Aluminium China 2023’ exhibition, where participants from every segment of the aluminium industry will showcase their individual prowess. On Monday, June 19, the LME aluminium spot price was US$2,195 per tonne, which fell by US$4.50 per tonne or 0.2 per cent to stop at US$2,190.50 per tonne on Thursday, June 22. If we measure it on a Week-on-Week scale, the LME aluminium price has disintegrated by US$6.50 per tonne or 0.29 per cent from US$2,197 per tonne on Thursday, June 15. SHFE flashed its last aluminium spot price on Wednesday, June 21, which was the same as US$2,577 per tonne recorded on Monday, June 19. The SHFE aluminium spot price suffered an intermediary loss of US$6 per tonne or 0.23 per cent on June 20, Tuesday, as the price marked US$2,571 per tonne. SHFE will resume on Monday, June 26.
China's aluminium producers are eyeing Indonesia for setting up smelters like nickel manufacturers. Indonesia has shown interest in housing aluminium smelters as they have done with nickel. They want to stop exporting aluminium raw materials and working on getting foreign investors to build domestic smelters.
To know more: https://www.alcircle.com/news/china-aluminium-producers-eye-indonesia-after-reaching-domestic-capacity-ceiling-96267
Aluminium China brings together high-quality resources from the aluminium industry and various end-use applications, domestically and internationally. It is one of the leading international exhibitions for the aluminium industry and is set to showcase the latest advancements, technologies, and trends in the sector in its highly anticipated 2023 edition.
According to the China Car Passenger Association, In May 2023, Chinese passenger car production and sales increased by 18 per cent and 28.2 per cent, respectively. Nevertheless, increased output in the automotive and solar industries helped somewhat support demand.
To know more: https://www.alcircle.com/news/china-s-may-aluminium-imports-show-a-modest-1-8-y-o-y-increase-96250
The data revealed by Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) indicates a 2 per cent year-on-year decline in Iran’s aluminium ingot production during the first two months of the calendar year 1402 (March 21-May 21). The output dropped from 114,850 tonnes to 112,767 tonnes in the ongoing year.
To know more: https://www.alcircle.com/news/iran-begins-the-calendar-year-1402-on-low-key-with-aluminium-ingot-output-dropping-2-y-o-y-96284
In China, primary aluminium output during May’23 stood at 3.460 million tonnes after rising by 3.69 per cent month-on-month compared to 3.337 million tonnes. On a year-on-year basis, China’s production in May edged 0.46 per cent higher than 3.444 million tonnes, found IAI.
Mr Sebastien Gauguier, President of Fives Group's Aluminium Division, gave a speech emphasising the significance of having a workshop locally as it matches Fives Group's aim of being closer to clients in the GCC.
To know more: https://www.alcircle.com/news/fives-new-workshop-in-bahrain-aims-to-foster-growth-in-the-aluminium-and-other-industries-96316
On Thursday, June 22, both LME aluminium cash bid price and LME aluminium official settlement price surged by US$33.5 per tonne or 1.55 per cent to settle at US$2,190 per tonne and US$2,190.50 per tonne.
As per the aluminium price index displayed in the Shanghai Metal Market, the aluminium spot price has experienced an RMB 40 per tonne loss, officially stopping at RMB 18,780 per tonne today, June 19. The average aluminium price trends are between RMB 18,760 per tonne and RMB 18,800 per tonne.
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