SHFE aluminium closed at RMB 24,230 per tonne, edging up 0.02 per cent. The price was capped by MA5 (24,259) but remained above MA10 (24,207) and MA30 (24,088), with the mid-term bullish structure intact. On the MACD indicator, DIF stood at 92.18 and DEA at 118.60, forming a death cross above the zero axis, with the green bars expanding to -52.85, indicating strengthening bearish momentum. Trading volume expanded to 76,000 lots, reflecting widening bull-bear divergence. The core trading range for SHFE aluminium is suggested at 24,000-24,600. LME aluminium closed at USD 3,248.5 per tonne, edging down 0.05 per cent. The price broke below MA5 (3,264.1), MA10 (3,261.37), and MA30 (3,262.88), with short-term moving averages exerting pressure, though MA60 (3,227) still provided support. On the...
LME aluminium prices softened across key contracts on September 23 compared with the previous session, while opening stocks remained broadly stable. The sharpest movement was recorded in cancelled warrants, which declined by more than 20 per cent. The LME aluminium cash bid price stood at USD 3,239.5 per tonne on September 23, down from USD 3,240 per tonne on September 22, a decline of 0.02 per cent. The cash offer price fell to USD 3,240 per tonne from USD 3,242 per tonne, down 0.06 per cent. For the three-month contract, the bid price declined to USD 3,258 per tonne from USD 3,263.5 per tonne, marking a 0.17 per cent decrease. The offer price fell to USD 3,260 per tonne from USD 3,264 per tonne, down 0.12 per cent. The December 2027 aluminium bid price stood at USD 3,180 per tonne,...
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The US, Mexico and Canada have finalised a trade deal (USMCA) that will replace the 25-year-old North American Free Trade Agreement (Nafta). Representatives from the three countries signed the deal in Mexico yesterday. The US-Mexico-Canada Agreement (USMCA) will be "the best and most important trade deal ever made by the USA. Good for everybody - Farmers, Manufacturers, Energy, Unions - tremendous support," Donald Trump tweeted after the deal was signed. The bill was agreed in White House after some revisions on the labour and environmental rules. House Speaker Nancy Pelosi declared the revised pact "infinitely better" than the deal the three countries announced last year. However, the Canadian aluminium industry is disappointed with the agreement as the deal excludes definition for...
The US dollar fell against its rivals on Tuesday, as investors were wary of a looming deadline for US tariffs on China. LME base metals, except for aluminium closed higher on Tuesday. SHFE aluminium gained 0.2%. Three-month LME aluminium erased earlier gains to close down 0.43% at US$1,753 per tonne on Tuesday. The buildup of short positions primarily accounted for the decline. LME aluminium is expected to hover between US$1,740-1,780 per tonne today. As on December 10, Tuesday, LME aluminium cash (bid) price stood at US$ 1749 per tonne, LME official settlement price stands at US$ 1750 per tonne; 3-months bid price stands at US$ 1752 per tonne, 3-months offer price is US$ 1752.50 per tonne; Dec 20 bid price stands at US$ 1812 per tonne, and Dec 20 offer price stands at US$ 1817 per tonne....
After successfully launching the first edition of its flagship e-Magazine (“Aluminium LeaderSpeak 2019" https://www.alcircle.com/emagazine/leaderspeak-2019-2 ), AlCircle team is now gearing up to magnify the participation & outdo the global reach with its second edition of the flagship e-magazine “ Aluminium LeaderSpeak 2020 ”. The year 2019 can be called the aftermath of trade wars, restrictive tariffs, sanctions, capacity cuts and price volatility that impacted the aluminium value chain the year earlier. 2019 has experienced a steady drop in alumina and aluminium prices worsened by weak market fundamentals and falling demand for the metal, globally and in China. Slowdown in global economy resulted in a downturn in the global automotive sector and saturated growth in the construction and...
The US dollar held its ground against its rivals on Monday, after a sharp rally last Friday boosted by the stronger-than-expected US jobs data. LME base metals closed mixed on Monday and aluminium shed 0.1%. The SHFE complex also saw mixed performance overnight and aluminium increased about 0.7%. Three-month LME aluminium rebounded to an intraday high of US$1,773.5 per tonne on Monday, before it erased those gains to close 0.11% weaker at US$1,760.5 per tonne. The buildup of short positions primarily accounted for the losses. LME aluminium is expected to remain rangebound between US$1,740-1,800 per tonne today. As on December 9, Monday, LME aluminium cash (bid) price stood at US$ 1765.50 per tonne, LME official settlement price stands at US$ 1766 per tonne; 3-months bid price stands at...
According to the General Administration of Customs data, China’s unwrought aluminium (including primary metal and alloy) and aluminium products exports in November came in at 452,000 tonnes after recording an increase of 4.9 per cent month-on-month. In October, however, China’s unwrought aluminium and aluminium products exports were down by 1.18 per cent from the previous month to 429,852 tonnes. In September also, the exports were lower by 6.6 per cent from 466,000 tonnes in August to 435,000 tonnes. In the first eleven months of the year, China’s total volume of unwrought aluminium (including primary metal and alloy) and aluminium products exports amounted to 5.25 million tonnes, down 0.3 per cent from the corresponding period last year. China’s production of primary aluminium also fell...
As updated by Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, extended their declines over the weekend and stood at 672,000 tonnes as of Monday December 9. That was down 33,000 tonnes from 705,000 tonnes on Thursday December 5. Primary aluminium inventories dropped 50,000 tonnes in the previous week. The chart below shows the current status of the primary aluminium inventories across China in more details: Compared to last Thursday, inventories of primary aluminium in Wuxi, Shanghai, and Nanhai plunged by 10,000 tonnes,3,000 tonnes and 16,000 tonnes to stand at 206,000 tonnes, 127,000 tonnes and 168,000 tonnes. Linyi, Shandong stocks remained unchanged at 5,000 tonnes. Inventories in Hangzhou, Zhejiang...
The US dollar rallied from one-month lows against its rivals on Friday, as investors digested a better-than-expected US nonfarm payrolls report. LME base metals closed higher on Friday and aluminium rose 0.8%. The SHFE complex also traded mostly higher on Friday night but aluminium bucked the uptrend and lost almost 0.1%. Three-month LME aluminium rallied from a two-week low of US$1,735 per tonne on Friday amid the uptrend across nonferrous metals on the back of upbeat US employment report. LME aluminium finished the trading day 0.77% higher at US$1,762.5 per tonne on Friday night, with the unwinding of short positions primarily accounting for the gains. It is likely to trade rangebound at US$1,750-1,800 per tonne today. As on December 6, Friday, LME aluminium cash (bid) price stood at...
A00 aluminium ingot price opened the week lower at RMB 14060 per tonne on Monday, 09 December 2019, marking a drop of RMB 10 per tonne or 0.07 per cent from Friday’s price of RMB 14070 per tonne. The price is expected to range at RMB 14040-14080 per tonne. Spot aluminium price is likely to trade at a premium of RMB 20-60 per tonne. Source: Shanghai Metals Market A00 aluminium ingot prices in Wuxi and Tianjin stood at RMB 14070 per tonne and RMB 14075 per tonne, up RMB 10 per tonne each. Their average prices are expected to range within RMB 14060-14080 per tonne and RMB 14070-14080 per tonne. The prices in Hangzhou and Gongyi dropped by RMB 20 per tonne and RMB 10 per tonne to stand at RMB 14085 per tonne and RMB 13965 per tonne. Aluminium ingot prices in Foshan, Chongqing, Shenyang, and...
According to Shanghai Metals Market, China’s primary aluminium production fell 0.81% from a year ago to 2.94 million tonne in November. Output in January-November stood at 32.39 million tonne, which registered a drop of 2.14% year-on-year. Better pricing, higher demand and high profits margins led to the resumption of some primary aluminium capacity in November. SMM survey found that the average profit for producing per tonne of primary aluminium crossed RMB 600 per tonne in November. During November end, primary aluminium capacity in operation climbed to 35.9 million tonne per year. Operating capacity of aluminium is likely to increase further in December with new capacity coming online in in Yunnan, Sichuan, and Inner Mongolia. After 12 consecutive months of decline year on year,...
The US dollar dropped to the lowest in more than one week on Monday against a basket of currencies. The US dollar continued a six-day losing streak, as investors monitored US-China trade and data releases. Friday saw some gains on the index. LME aluminium gained 1.8% to become the outperformer on Monday. LME aluminium continued its gain on the second day of the week. Three-month LME aluminium also reached three-week highs on Tuesday but slipped to its lowest since November 26 on Friday at US$1741/t. LME cash settlement price traded within a range of US$ 1750.5 – 1802 per tonne. After that the contract continued to slow down since Tuesday night reaching the lowest during Friday’s closing. The spread between cash and three months aluminium was in a range of US$20.5 to 9.5/t backwardation...
The price of A00 aluminium ingot witnessed an upward movement, except Friday, over the week. Ingot price started the week with an increase of RMB 60 per tonne from November 29 to RMB 14050 per tonne on Monday, December 2. The aluminium price ended lower at RMB 14070 per tonne after Friday’s closing, down RMB 60 per tonne from Thursday’s price of RMB 14130 per tonne. Source: Shanghai Metals Market As updated by Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, continued to decline this week due to robust demand and stood at 705,000 tonnes as of Thursday December 5, down by 50,000 tonnes from a week ago. Primary aluminium inventories dropped 44,000 tonnes in the previous week. The chart below indicates the...
As updated by Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, continued to decline this week due to robust demand. Stocks stood at 705,000 tonnes as of Thursday December 5, down by 50,000 tonnes from a week ago. Primary aluminium inventories dropped 44,000 tonnes in the previous week. The chart below shows the current status of the primary aluminium inventories across China in more details: Primary aluminium stocks in Wuxi, Shanghai, Nanhai stood at 216,000 tonnes, 130,000 tonnes and 184,000 tonnes on Thursday December 5, down 17,000 tonnes, 5,000 tonnes and 31,000 tonnes from Thursday November 28. But the inventories in Hangzhou, Zhejiang increased by 4,000 tonnes from a week ago to 53,000 tonnes. Primary...
Tajikistan would be selling a stake in its main industrial concern Tajik Aluminium Company to a Chinese firm in exchange of much needed cash investment. This was reported by local media on December 4 citing Beijing’s former ambassador to Tajikistan, Yue Bin. He said that the acquisition would be executed in return for an investment of US$545 million into the Talco aluminium smelter by the Chinese firm. State-owned China Machinery Engineering Corporation would take over stakes of Talco. Talco, a completely state-controlled aluminium producer on paper, has not made any official comment on the prospect of it being partly-privatized. Yue has not disclosed any details about the size of any stakes to be sold. The process for sale has already been initiated. Talco was converted from a state...
According to Reuters report, Apple Inc has purchased the first carbon-free aluminium from a joint venture of Alcoa Corporation and Rio Tinto. The carbon-free aluminium was produced at the Alcoa Technical Center in Pittsburgh. Apple will take the delivery of the first batch of aluminium this month. The aluminium is being made by Elysis, a Montreal-based joint venture between Alcoa Corporation and Rio Tinto. The joint venture was formed with $144 million in funding from Alcoa, Rio Tinto, Apple and the governments of Canada and Quebec. Vincent Christ, President and CEO of ELYSIS said: “This sale is an important milestone for ELYSIS and a sign of our progress over our first year of operation. It confirms the market interest in aluminium produced using our breakthrough carbon free smelting...
The US dollar dropped against its rivals on Thursday, registering a six-day losing streak, as investors monitored US-China trade and data releases. LME base metals closed mixed on Thursday. Aluminium shed 0.5%. SHFE aluminium also declined 0.4%. Three-month LME aluminium slipped to its lowest since November 26 at US$1,743.5/t on Thursday, before it ended down 0.54% at US$1,749/t. The unwinding of long positions primarily accounted for the loss in LME aluminium. As on December 5, Thursday, LME aluminium cash (bid) price stood at US$ 1755.50 per tonne, LME official settlement price stands at US$ 1756 per tonne; 3-months bid price stands at US$ 1746 per tonne, 3-months offer price is US$ 1748 per tonne; Dec 20 bid price stands at US$ 1805 per tonne, and Dec 20 offer price stands at US$ 1810...
According to a Platts report, the first quarterly aluminum premium contract (Jan-March 2020) for Japan for the shipment of 1,000 t/month was settled at US$83/t, plus LME cash settlement average of the shipment month on Wednesday. It was confirmed by a western producer and a major Japanese end user. The quarterly CIF Japan aluminium premiums are negotiated over 10 parties, including three major Western producers and several Japanese consumers and traders. The premium is 14.4% lower than the Platts Q4 assessment of US$97/t, and close to the US$83-$85/t settled in Q1 2019. Earlier to this report, market participants reported offers of US$92/t, US$95/t and US$85/t by three producers and indicative bids of around US$80-85/t. A few Japanese traders talked about deals concluding at US$82/t...
The year 2019 proved to be a robust one for mergers and acquisitions for the global aluminium industry. Mergers and acquisitions played a key role in expanding businesses of the industry players across aluminium value chain. The companies continued to invest in acquisitions to capitalize on the growing demand despite world aluminium price volatility and continuous market uncertainty. The biggest acquisitions of 2019 include Press Metal Aluminium’s acquisition of PT Bintan Alumina, Novelis’ proposed acquisition of Aleris and Endurance Technologies’ purchase of aluminium die casting company among others. Let’s take a look at the top mergers and acquisitions in 2019 (so far). PARTER Capital Group AG acquires Alcoa’s Avilés and La Coruña aluminum plants PARTER Capital Group AG completed...
A00 aluminium ingot price continued to edge higher by RMB 10 per tonne or 0.07 per cent to stand at RMB 14130 per tonne on Thursday, 05 December 2019, from its previous price of RMB 14120 per tonne on December 4. This marked the sixth consecutive hike in aluminium price. The price is expected to range at RMB 14110-14150 per tonne. Spot aluminium price is likely to trade at a premium of RMB 40-80 per tonne. Source: Shanghai Metals Market Aluminium Ingot prices dropped across all major markets in China. Linyi witnessed the highest drop in aluminium ingot price. The price stood at RMB 14100 per tonne, down by RMB 50 per tonne from its previous price. The average price is likely to range at RMB 14090-14110 per tonne. Aluminium prices in Foshan and Wuxi did not show any movement today. Foshan...
