Primary aluminium weekly: Surging demand and domestic supply concerns propel China's October aluminium imports

China's aluminium imports increased for the fifth straight month in October, according to customs statistics published on November 18, 2023. The increase is attributable to increased purchasing appetite, driven by strong demand and forecasts of lower supply in the local market. Chinalco Materials Application Research Institute Co., Ltd., Yunnan Yuntong Zinc Industry Co., Ltd., and Shenyang Boyu Technology Co., Ltd., all affiliated with Chinalco Group Co., Ltd., were among the fifth batch of state-level specialised and innovative "Little Giant" enterprises announced by the Ministry of Industry and Information Technology. The 2023 Kunming Headquarters Enterprise Recognition Results have been issued by the Kunming Headquarters (Building) Economic Leadership Group Office. Yunnan Aluminium Corporation was one of thirteen corporations designated headquarters enterprises, including Yunnan Aluminium Corporation.

According to customs data released on November 18, 2023, China experienced a fifth consecutive monthly increase in aluminium imports during October. The uptick is attributed to an improved buying appetite driven by solid demand and expectations of reduced supply in the domestic market.

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The Ministry of Industry and Information Technology recently announced the fifth batch of state-level specialised and innovative "Little Giant" enterprises, including Chinalco Materials Application Research Institute Co., Ltd., Yunnan Yuntong Zinc Industry Co., Ltd., and Shenyang Boyu Technology Co., Ltd., all affiliated with Chinalco Group Co., Ltd.

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The Kunming Headquarters (Building) Economic Leadership Group Office has announced the 2023 Kunming Headquarters Enterprise Recognition Results. Thirteen firms, including Yunnan Aluminium Corporation, were designated as headquarters enterprises, and the corporation was one of them.

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The Russian and Italian governments have shared a long-term partnership. A significant role has been played by Italian architects in the development of St. Petersburg, the Russian port city on the Baltic Sea.

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The Shanghai Metals Market, on November 24, marked a slight digression in aluminium prices, with the SMM A00 aluminium ingot price rising by RMB 10 per tonne to close at RMB 18,820 per tonne. The average aluminium prices have hovered between RMB 18,800 per tonne and RMB 18,840 per tonne.

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LME aluminium opened at US$2223 per tonne in the previous trading day, with its low and high at US$2215 per tonne and US$2233 per tonne, respectively, before closing at US$2222 per tonne, up US$0.5 per tonne or 0.02 per cent.

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Companhia Brasileira de Alumínio (CBA), the largest aluminium producer in Brazil with a total production capacity of around 480,000 tonnes, announced its third-quarter results of 2023, ended September 30, reporting a 13 per cent growth in sales volume to 119,000 tonnes.

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November 2022 was a significant time in AI research and development history. As a significant milestone in recent technical developments, OpenAI launched ChatGPT, which almost instantaneously became the talk of the tech world. Since then, there have been many important developments around AI developments – the fear, anxiety, and eclectic moments all together only drove the world towards AI.

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