Mexico-US trade talks, including discussions on aluminum tariffs , have been delayed, with the fourth round of negotiations now expected to take place in October. The delay comes as both countries manage busy diplomatic schedules. Luis Rosendo Gutierrez, Mexico’s deputy economy minister for foreign trade, said the delay stemmed from scheduling conflicts, including Chinese President Xi Jinping’s planned visit to the United States and the upcoming G20 summit. Although the formal talks have been postponed, technical discussions between Mexico and the US Trade Representative’s Office (USTR) are continuing on a “daily” basis, Gutierrez said. Explore the production, demand and consumption forecasts of bauxite and alumina in our report: " Global Bauxite & Alumina Market Forecast to 2036:...
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...
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The US dollar rose on Thursday to 98.14, as better-than-expected US retail sales data eased fears that the US economy could be headed for a recession. LME base metals closed mixed overnight. LME aluminium nudged up 0.03% and SHFE aluminium inched up 0.1%. LME aluminium gained during day’s trading and closed higher. The trend continued overnight and three-month LME aluminium recovered from earlier losses to end the day a tad higher at US$1,785 per tonne. It is expected to trade between US$1,760-1,800 per tonne today. As on August 15, Wednesday, LME aluminium cash (bid) price stood at US$ 1742 per tonne, LME official settlement price stands at US$ 1742.50 per tonne; 3-months bid price stands at US$ 1776 per tonne, 3-months offer price is US$ 1777 per tonne; Dec 20 bid price stands at US$...
According to Shanghai Metals Market, the A00 aluminium ingot price has extended its growth by RMB 50 per tonne to RMB 14,240 per tonne, as of August 16. This marks the second consecutive rise after the fall on August 14 from RMB 14,250 per tonne to RMB 14,150 per tonne. The average prices today are expected to range between RMB 14,220 per tonne and RMB 14,260 per tonne, with spot contract to be trade at a discount and premium price of RMB 20 per tonne. The rise in A00 aluminium ingot price, despite the growth in social inventories, could be the steady consumption of primary aluminium among downstream consumers. China, on the other hand, on Wednesday, August 14, issued a fresh batch of import quotas of 11,290 tonnes for newly restricted high-grade aluminium scrap. This perhaps has led to...
Aluminium Bahrain B.S.C. (Alba) is the world’s largest aluminium smelters ex-China with a production of 1,365,005 metric tonnes (2019). Listed on both the Bahrain Bourse and London Stock Exchange, the Company’s shareholders are Bahrain Mumtalakat Holding Company (69.38%), SABIC Industrial Investment Company (20.62%) and the General Public (10%). Established in 1971 as a 120,000 mtpa smelter, the Alba plant comprises six reduction lines, five power stations, four cast houses, four carbon plants, a dedicated 550,000 mtpa coke calcining plant, a water desalination plant and fume treatment plants along with other ancillary facilities. Alba’s product portfolio comprises high-grade aluminium and Value-Added Products that include standard and T-ingots, extrusion billets, rolling slabs, properzi...
As a European industry association, our focus for 2020 is ensuring that new policymakers in the reconstituted European Commission and Parliament understand our industry. Our agenda features a comprehensive set of policy recommendations across four domains: circular economy, trade, energy & climate, and innovation. First, we must convince more politicians that aluminium is a strategic industrial sector to preserve Europe’s competitiveness and critical for the transition to a climate neutral and circular economy. We will also pay close attention to the new policy initiatives that will be introduced as part of the European Green Deal, presented as Europe’s growth strategy for a resource-efficient and competitive economy to make Europe the first climate-neutral continent by 2050. The European...
Today staying competitive means investing permanently in new technologies, helping to reducing operational costs. Not only the technology itself, also the way that you can purchase it will make a difference in the profitability of your operations. At the background of demographic and political changes and in a complex market which – above all – is ruled by aluminium prices, it is more and more key to stay on top of expenditures. Saving by using new technology By implementing Automated Guided Vehicles in the organization, a high and fast return on investment is assured by several factors. One important and immediate saving is labour cost, but also maintenance costs and damages – two important components in the cost of ownership of a fleet – will be reduced in such a way that the ROI can be...
US Treasury bond yield curve inverted for the first time since 2007 on Wednesday, which sparked fears of an economic recession and led to a plunge on Wall Street. The US dollar index rose 0.16% to 97.98. LME base metals closed lower on Wednesday. LME aluminium dipped 0.06% and SHFE aluminium rose 0.3%. LME aluminium gained during day’s trading and closed higher, however, the contracts lost gained overnight with the rising dollar. Three-month LME aluminium slipped to an intraday low of US$1,769 per tonne, before it rallied to end the day a tad lower at US$1,784.5 per tonne. It is expected to trade between US$1,760-1,850 per tonne today. As on August 14, Tuesday, LME aluminium cash (bid) price stood at US$ 1740.50per tonne, LME official settlement price stands at US$ 1741 per tonne;...
According to Shanghai Metals Market, the social inventories of primary aluminium, as of August 15, have recorded a week-on-week rise for the third straight week. SMM data shows that stocks across eight major consumption areas, including SHFE warrants, have increased by 1,000 tonne from a week ago to come in at 1.051 million tonnes. Increasing cargoes arrival at Wuxi and weakening demand in Guangdong in a low season could be the two primary causes for this weekly growth in primary aluminium inventories. In Wuxi, Jiangsu, the inventories have grown by some 10,000 tonnes, while that in Nanhai, Guangdong by some 14,000 tonnes. In other major markets like Shanghai, Gongyi, Henan; Linyi, Shandong; and Chongqing, the inventories have dipped. The chart below indicates the current status of...
National Aluminium Company Limited published unaudited financial results for the quarter ended 30th June, 2019. The company reported 29.91 per cent drop in sales in the quarter. Sales in in the quarter ended June 2019 stood at INR 2084.08 crore as compared to INR 2973.31 crore in the quarter ended June 2018. NALCO reported 85.76 per cent decline in net profit in the quarter. Net profit dropped from INR 687.22 crore in the quarter ended June 2018 to INR 97.87 crore in the quarter ended June 2019. Revenue from aluminium segment stood at INR 1,470.12 crore in the quarter as compared to INR 1,750.97 crore in the previous year. The company had posted net profit of INR 1,732 crore during the FY 2018-19, a growth of 29% year-on-year. In the 4th quarter, net profit stood at INR 233 crore....
According to the National Bureau of Statistics survey, China’s daily production of primary aluminium fell in July month-on-month. Output averaged around 96,000 tonnes, down 3,000 tonnes or 3 per cent from 99,000 tonnes in June. This decline in daily output could be attributed to the production cut at some of the Chinese aluminium smelters in July. According to the research house Antaike, around 220,000 tonnes of annual production was cut in July, including China Zhongwang Holding’s smelter in the northeast province of Liaoning. Jackie Wang, an aluminium consultant at CRU in Beijing, agreed that Zhongwang’s production cut had the biggest impact last month. Also, smelter ramp-up in the southwest Guangxi region progressed slower than expected, said the consultant further. “Basically there...
The US dollar strengthened on Tuesday, after the US decided to delay tariffs on certain Chinese goods while outright removing some items from the tariff list, reigniting hopes that Washington and Beijing could reach a resolution. Signs of easing US-China trade tensions also bolstered oil prices and LME base metals overnight. LME aluminium rose 0.9% and SHFE aluminium fell 0.2%. LME aluminium closed lower during the day’s trading but regained some losses at night. Three-month LME aluminium rallied from earlier lows to a high of US$1,793 per tonne overnight, before it closed the day 0.88% higher at US$1,785.5 per tonne. It is expected to trade between US$1,750-1,850 per tonne today. As on August 13, Tuesday, LME aluminium cash (bid) price stood at US$ 1730.50per tonne, LME official...
After three consecutive rises from RMB 13,880 per tonne to RMB 14,250 per tonne during August 9-13, the A00 aluminium ingot price has registered a decline today, on August 14, by RMB 100 per tonne to RMB 14,150 per tonne, found Shanghai Metals Market. However, despite the drop, the aluminium ingot price is still standing higher month-on-month by RMB 350 per tonne. The average prices are expected to stand at RMB 14,130 per tonne to RMB 14,170 per tonne, with spot contract to be traded at a discount price of RMB 10 per tonne to a premium price of RMB 50 per tonne. Tianjin and Gongyi have seen the highest price plunge of RMB 90 per tonne to RMB 14,110 per tonne and RMB 14,010 per tonne respectively, as of August 14, followed by Foshan, Wuxi, Shenyang, Linyi where the prices have decreased by...
China Hongqiao Group, leading aluminium producer updated on Tuesday that it was operating as normal after its home province of Shandong was lashed out and flooded by Typhon Lekima during the weekend. “The facilities are not damaged by the typhoon. There was flooding outside the factories but no actual facilities damage,” Honqgiao said in an email statement. “Since Hongqiao is a big company and with numerous pre-emptive measures and plans, the company’s operation was not affected,” the statement added. An earlier report on Monday said that a wall of one of the Shandong-based group’s aluminium plants was “immediately overwhelmed” by flood water. This statement was issued by Weiqiao Pioneering, which was owned by Zhang family that owns Hongqiao Aluminium. Hongqiao and Weiqiao are considered...
The US dollar index edged down on Monday, amid trade tensions between the US and China and concerns of slowing global economic growth. LME base metals closed mixed on Monday. LME aluminium slipped 0.2% and SHFE aluminium rose 0.9%. LME aluminium contracts closed the day’s trading lower on Monday. Three-month LME aluminium followed its SHFE counterpart higher to a high of US$1,793 per tonne on Monday night, before it erased those gains to end 0.23% lower at US$1,770 per tonne overnight. This suggested that SHFE aluminium could provide limited traction for LME aluminium, which is likely to trade between US$1,700-1,800 per tonne today. As on August 12, Monday, LME aluminium cash (bid) price stood at US$ 1742.50 per tonne, LME official settlement price stands at US$ 1743 per tonne; 3-months...
A00 aluminium ingot price has edged higher by RMB 300 per tonne or 2.15 per cent today. As on Tuesday, 13 August 2019, ingot price ranged at RMB 14230-14270 per tonne; the average price stood at RMB 14250 per tonne, from its previous price of RMB 13950 per tonne on August 12. In Foshan and Wuxi, aluminium ingot price has increased by RMB 300 per tonne and RMB 265 per tonne to stand at RMB 14240 per tonne each. Their average price is expected to range within RMB 14220- 14260 per tonne and RMB 14230- 14250 per tonne. Aluminium price in Hangzhou is up RMB 290 per tonne at RMB 14255 per tonne as on August 13. Aluminium ingot prices in Chongqing, Shenyang, Tianjin, Linyi, and Gongyi stand at RMB 14210 per tonne, RMB 14190 per tonne, RMB 14200 per tonne, RMB 14210 per tonne, and RMB 14100 per...
In contrast to Thursday, August 8, when the primary aluminium inventories increased by 1,000 tonnes, today, on August 12, the inventories shrank 6,000 tonnes to stand at 1.035 million tonnes, found Shanghai Metals Market. Limited cargoes and steady consumption could be the two primary causes for this decline in inventories, as of August 12. In Wuxi, Jiangsu, the inventory dipped 2,000 tonnes over the weekend to stand at 302,000 tonnes, while that in Gongyi Henan decreased 4,000 tonnes to come in at 110,000 tonnes. In Tianjin, Chongqing, and Linyi, Shandong, the primary aluminium inventories declined as well by 1,000 tonnes to peg at 50,000 tonnes, 24,000 tonnes, and 14,000 tonnes, respectively. In Shanghai, and Nanhai, Guangdong, on the other hand, the inventories rose 1,000 tonnes and...
The US dollar index slipped on Friday, lowered by fresh concerns about an economic slowdown. LME base metals closed lower on Friday and aluminium shed 0.4%.SHFE aluminium inched up 0.04%. Three-month LME aluminium dipped to a low of US$1,770 per tonne on Friday, and ended at US$1,774 per tonne, down 0.39%. LME aluminium weakened along with other metals, and is expected to trade between US$1,700-1,800 per tonne today. As on August 9, Friday, LME aluminium cash (bid) price stood at US$ 1745.50 per tonne, LME official settlement price stands at US$ 1746 per tonne; 3-months bid price stands at US$ 1776 per tonne, 3-months offer price is US$ 1776.50 per tonne; Dec 20 bid price stands at US$ 1870 per tonne, and Dec 20 offer price stands at US$ 1875 per tonne. The LME aluminium opening stock...
According to Shanghai Metals Market, the A00 aluminium ingot price has extended growth over the weekend by RMB 20 per tonne to stand at RMB 13,950 per tonne. This marks the second consecutive rise after the fall on Thursday, August 8, from RMB 13,900 per tonne to RMB 13,880 per tonne. On Friday, August 9, the price grew to RMB 13,930 per tonne. With these two back-to-back rises, the A00 aluminium ingot price is standing RMB 230 per tonne higher, compared to the same period last month. Today, the average prices are expected to range between RMB 13,930 per tonne and RMB 13,970 per tonne, with spot contract to be traded at a premium price of RMB 40 per tonne. The price in Shenyang has seen the highest rise of RMB 45 per tonne to RMB 13,940 per tonne, following by Tianjin and Wuxi, where the...
China’s domestic production of primary aluminium stood 2 per cent lower from a year ago in July 2019, according to an SMM data. Primary aluminium production stood at 3.07 million tonnes, with a daily average of 98,900 tonnes. Production decreased by 1.66 per cent year-on-year to 20.56 million tonnes in the first seven months of 2019. Primary aluminium production received a boost from Inner Mongolia, Shanxi, and Shandong, but lower supplies in the north-east and the north-west weighed on output from a year ago. Established capacity of primary aluminium stood at 40.73 million tonnes as of the end of July, with 36.59 million tonnes in operation. According to an SMM’s anticipation, production is estimated to stand at 3.09 million tonnes in August, driven by growth in Guizhou, Shandong, and...
