Canada and China have extended a bilateral trade arrangement that links Chinese market access for Canadian agricultural products with Canada's access for Chinese steel and aluminum. The decision provides greater certainty for exporters on both sides as Ottawa seeks to expand its trade relationships beyond the United States. The extension, announced on November 4, 2026, will keep the existing arrangement in place until the end of 2028. It comes amid renewed efforts by the two countries to strengthen economic ties and address outstanding trade issues. For the aluminum industry, the agreement offers a clearer timeline for market access, while its agricultural provisions provide Canadian producers with greater predictability in one of their key export markets. Canada-China trade agreement...
LME aluminium prices gained ground on November 4, with cash and futures contracts moving higher. The Asian Reference Price also edged up, while exchange inventories declined. Alumina Platts prices, however, moved slightly lower. The cash bid rose by USD 53.50 per tonne , or 1.74 per cent, to USD 3,134.50 per tonne from USD 3,081 per tonne. The cash offer increased 1.72 per cent to USD 3,135 per tonne from USD 3,082 per tonne. Three-month aluminium prices also advanced. The bid climbed 1.08 per cent to USD 3,073 per tonne on November 4 from USD 3,040 per tonne, while the offer gained 1.05 per cent to USD 3,074 per tonne. It was previously at USD 3,042 per tonne . Explore the production, demand and consumption forecasts of bauxite and alumina in our report: " Global Bauxite & Alumina Market...
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The government of Russian Federation becomes the latest entity to file a complaint against the US tariffs on imported aluminium and steel. On Friday night, June 29, 2018, Russian Economic Development Minister Maxim Oreshkin announced that Russia filed a lawsuit to the World Trade Organisation and sent a request for consultations with the United States over Trump’s decision to impose additional metal tariffs on the national security ground. Oreshkin noted that Russian Federation government is now the seventh entity to drag the United States to the WTO, following the European Union, China, India, Canada, Mexico, and Norway. He explained that consultations request with Trump’s administration is Russia’s first step in the process. This would offer a platform to both the governments’...
LME base metals saw mixed trading on Friday June 29. LME aluminium broke the support at US$2,150 per tonne and dipped to a low of US$2,130 per tonne last Friday. The metal closed at US$ 2183 per tonne on Friday, June 29, from US$ 2173 per tonne on Thursday June 28.SMM expects it to cease the downward trend today due to expectations of strong purchasing managers’ index (PMI) from several countries. LME aluminium is likely to trade at US$2,122-2,150 per tonne. As on June 28, LME aluminium cash (bid) price stands at US$ 2182.50 per tonne, LME official settlement price stands at US$ 2183 per tonne; 3-months bid price stands at US$ 2159 per tonne, 3-months offer price is US$ 2160 per tonne; Dec 19 bid price stands at US$ 2183 per tonne, and Dec 19 offer price stands at US$ 2188 per tonne. The...
China’s social inventory of primary aluminium continued to decline over the weekend ended on July 2, 2018, but on a slower rate. According to Shanghai Metals Market, including SHFE warrants across eight major Chinese markets shrank only 9000 tonnes from last Thursday, June 28, to stand at 1.84 million tonnes. Compared to the last Monday, June 25, the inventory today shrank 15000 tonnes, as SMM data showed. A little loss of procurement interest among downstream consumers could be held responsible for this week-on-week slower decline. In Wuxi and Jiangsu, the inventory today stood at 774,000 tonnes, while in Shanghai, the inventory hovered at 429,000 tonnes. In Nanhai and Guangdong and Gongyi and Henan, the inventory rallied at 241,000 tonne and 179,000 tonnes, respectively. More details...
Canada will announce an aid package worth between C$500 million and C$800 million to steel and aluminium companies affected by the U.S. metal tariffs, according to news published by Reuters. Foreign Minister Chrystia Freeland will make the announcement in Hamilton on Friday, 29 June 2018. Chrystia Freeland will also reveal a list of the U.S. - made products that the country intends to subject to retaliatory tariffs, said a source familiar with the matter. These measures are a response to the tariffs Donald Trump imposed on Canadian aluminium and steel imports. Companies like Evraz Plc, Rio Tinto Plc, Algoma Acquisition Corp [ALGMA.UL], Essar Steel Algoma Inc [ESSRGE.UL], ArcelorMittal SA and Alcoa Corporation have operations in Canada, Reuters reported. The Canadian province of Quebec...
On the face of widened spot discounts on Thursday, June 28, traders in the east China aluminium market showed keen interests in purchasing cargoes, according to Shanghai Metals Market. Such high buying interests also spurred trading liquidity. Producers in east China showed interests to offload cargoes for repaying loan interest towards the mid-year while downstream consumption was relatively weak. This widened the spot discounts. In Shanghai, the transactions were done at RMB 14010 per tonne to RMB 14040 per tonne, with spot discounts settled at RMB 90 per tonne to RMB 80 per tonne against the SHFE 1807 contract. The discounts were about RMB 80 to RMB 70 per tonne a day earlier. Transactions in Wuxi and Hangzhou, on the other hand, were heard at RMB 14010 per tonne to RMB 14040 per tonne...
Base metals and LME aluminium fell overnight on growing worries over global trade wars. LME aluminium fell to a low of US$ 2,142 per tonne with open interests up 2,702 lots to 672,000 lots. The metal closed lower at US$ 2173 per tonne on Thursday, June 28, from US$ 2204.5 per tonne on Wednesday June 27. Shanghai Metals Market expects it to trade at US$ 2,140-2,170 per tonne today. As on June 28, LME aluminium cash (bid) price stands at US$ 2172.50 per tonne, LME official settlement price stands at US$ 2173 per tonne; 3-months bid price stands at US$ 2153 per tonne, 3-months offer price is US$ 2155 per tonne; Dec 19 bid price stands at US$ 2275 per tonne, and Dec 19 offer price stands at US$ 2180 per tonne. The LME aluminium opening stock dropped to 1112025 tonnes. Live Warrants totalled...
Russian Prime Minister Dmitry Medvedev said on Wednesday, June 27, that the country plans to launch counter tariffs against the US’ decision of 10 per cent tariff on imported aluminium and 25 per cent on imported steel, TASS reported. Dmitry Medvedev said the U.S. decisions are discriminatory in nature and cannot remain without consequences. The Ministry of Economic Development will make a list of the U.S. made products within a few days. He said: "The countries of the European Union, China have already taken reciprocal steps. We also need to think about introducing retaliatory measures, I ask the Economic Development Ministry to prepare relevant proposals." Earlier this month, Russian Economic Development Minister Maksim Oreshkin announced the measures will only affect products that have...
The incessant price fall of primary aluminium in China and increasing consumption among downstream consumers, as a result, led to the further decline of primary aluminium inventory over this week ended June 28, 2018, according to Shanghai Metals Market. Limited arrivals to the warehouses also contributed to this plunge. As of Thursday, June 28, inventories of primary aluminium, including SHFE warrants, across eight major Chinese markets dropped from 1.87 million tonnes, as of Monday, June 25, to 1.84 million tonnes. Compared to the last Thursday, June 21 when the inventory was at 1.88 million tonnes, the inventory today shrank 40,000 tonnes, as SMM data showed. The inventory in Wuxi and Jiangsu dropped to 777,000 tonnes, while in Shanghai, the inventory dipped to 429,000 tonnes. Nanhai...
Most base metals and LME aluminium rebounded overnight on Tuesday and continued to trade higher as the US softened its approach to investment restrictions on China. LME aluminium surged over 2% recovering all the losses this week and rebounded to between the five- and 10-day moving averages. The contract closed higher at US$ 2204.5 per tonne yesterday, June 27. However, Shanghai Metals Market expects its weak trading pattern to continue trading at US$2,160-2,200 per tonne today. As on June 27, LME aluminium cash (bid) price stands at US$ 2204 per tonne, LME official settlement price stands at US$ 2204.50 per tonne; 3-months bid price stands at US$ 2196 per tonne, 3-months offer price is US$ 2198 per tonne; Dec 19 bid price stands at US$ 2215 per tonne, and Dec 19 offer price stands at US$...
According to the presentation made by the Aluminium Association of India (AAI) and reviewed by Business Standard, the Indian aluminium industry has been suffering over the years because of the unfavourable Free Trade Agreements (FTAs) that allowed China to dump a huge amount of aluminium in India. Hence, as per the Business Standard report, the Indian aluminium companies, including Hindalco and Vedanta have asked the government to place restrictions on aluminium imports from China. Recently, executives from companies had met Department of Industrial Policy and Promotion (DIPP) Secretary Ramesh Abhishek and requested for quantitative restrictions on aluminium imports, which shot up over the past two years, a commerce ministry official said. The AAI sought in the presentation “the...
All 60 electrolysis cells are now in operation at the Karmøy technology pilot, where Hydro aims to industrialize the world's most climate and energy efficient aluminium electrolysis technology. "Our aim is to be the global leader in technology and innovation in our industry, and the Karmøy pilot helps advance that ambition and ensures that the Norwegian technology cluster remains the global leader in sustainable aluminium production" says Hydro president and CEO Svein Richard Brandtzæg. The technology that is being tested at Karmøy will have the lowest CO2 footprint and will use 15% less energy during production compared to the world average in aluminium production. The technology consists of 48 cells with 12.3 kWh/Kg HAL4e technology and 12 cells with 11.5-11.8 kWh/kg HAL4e Ultra...
LME aluminium dropped from the previous closing of US$ 2172 per tonne and closed at US$ 2152 per tonne yesterday June 27. The US dollar index was up 0.4% at 94.66 on Tuesday. Most base metals rebounded overnight. LME aluminium surged over 2% recovering all the losses this week and rebounded to between the five- and 10-day moving averages overnight. Aluminium still faces strong pressure as the US dollar stays strong. Shanghai Metals Market expects LME aluminium to trade at US$2,170-2,195 per tonne today. As on June 26, LME aluminium cash (bid) price stands at US$ 2151 per tonne, LME official settlement price stands at US$ 2152 per tonne; 3-months bid price stands at US$ 2142 per tonne, 3-months offer price is US$ 2143 per tonne; Dec 19 bid price stands at US$ 2160 per tonne, and Dec 19...
LME aluminium rebounded with the dipping of US dollar and closed Monday’s trading at US$ 2172 per tonne. LME aluminium was dragged down by its SHFE counterpart to close at a low of US$2,149.5 per tonne last night. It is expected to recover some losses and move close to the five-day moving average during the day. Shanghai Metals Market sees the trading range at $2,140-2,165 per tonne. As on June 25, LME aluminium cash (bid) price stands at US$ 2171 per tonne, LME official settlement price stands at US$ 2172 per tonne; 3-months bid price stands at US$ 2165 per tonne, 3-months offer price is US$ 2167 per tonne; Dec 19 bid price stands at US$ 2183 per tonne, and Dec 19 offer price stands at US$ 2188 per tonne. The LME aluminium opening stock slightly dropped to 123700 tonnes. Live Warrants...
The primary aluminium inventory in China, including SHFE warrants, saw a slower decline over the weekend as environment probe deterred downstream consumption. As of June 25, 2018, primary aluminium inventories across eight major consumption areas in China shrank 15,000 tonnes to stand at 1.87 million tonnes, compared to 1.88 million tonnes on last Thursday, June 21, 2018, Shanghai Metals Market observed. This indicates a drop of 32,000 tonnes recorded on last Tuesday, June 19, 2018, when the inventory was at 1.89 million tonnes. While in Wuxi and Jiangsu, the inventory dropped from 795,000 tonnes, as of June 21, to 789,000 tonnes on June 25; in Shanghai, the inventory remained unchanged and hovered at 433,000 tonnes. Other major Chinese cities like Nanhai and Guangdong and Linyi and...
The US dollar index dipped and closed at 94.52 last Friday. LME aluminium rebounded to a high of US$2,188.5 per tonne last Friday night after closing the day’s trading at US$ 2166 per tonne as the US dollar dipped. It closed at highs at US$2,176.5 per tonne during night trading with open interests declining 188 lots to 670,000 lots. Shanghai Metals Market sees it trading rangebound around the five-day moving average at US$2,170-2,190 per tonne today. As on June 22, LME aluminium cash (bid) price stands at US$ 2165.50 per tonne, LME official settlement price stands at US$ 2166 per tonne; 3-months bid price stands at US$ 2171 per tonne, 3-months offer price is US$ 2172 per tonne; Dec 19 bid price stands at US$ 2193 per tonne, and Dec 19 offer price stands at US$ 2198 per tonne. The LME...
The Government of the Russian Federation announced on Tuesday, June 19, that it requested to join consultations between the European Union and the United States at the World Trade Organisation over the US imported metal tariffs. The request was submitted in an official letter, dated June 15, 2018. The letter revealed that Moscow wanted to be included in the proceedings as a third party since the measures at issue are applied to the Russian aluminium and steel exports as well. A statement in the letter reads, “The application by the United States of the challenged measures has significant detrimental effect on Russia's trade interests." Should the Russian Federation receives third-party status, it will have the right to send representatives to attend the talks, listen, and present own...
According to the data showed by the International Aluminium Institute (IAI), global primary aluminium production increased in May against April. Total primary aluminium production came in at 5.44 million tonnes in May 2018 as compared to 5.3 million tonnes in April 2018. The global primary aluminium production on a daily basis decreased to 175,500 tonnes. World primary aluminium production stood at 26.43 million tonnes in the first five months of 2018, down 1 per cent year-on-year from 26.6 million tonnes in the first five months of 2017. In China, the primary aluminium production increased 2.8 per cent month-on-month to 3 million tonnes in May. China churned out 14.88 million tonnes of primary aluminium in the first five months of 2018, down 2.7 per cent year-on year from 15.29 million...
LME aluminium rebounded to a high of US$2,193 per tonne from a session-low of US$2,162.5 per tonne overnight. Benchmark aluminium price on London Metal Exchange dropped to close at US$2167 per tonne on Thursday, June 21. SMM sees pressure at the five-day moving average and support at the US$2,160 per tonne level. The metal is likely to trade rangebound at US$2,165-2,196 per tonne today. As on June 21, LME aluminium cash (bid) price stands at US$ 2166 per tonne, LME official settlement price stands at US$ 2167 per tonne; 3-months bid price stands at US$ 2165 per tonne, 3-months offer price is US$ 2166 per tonne; Dec 19 bid price stands at US$ 2190 per tonne, and Dec 19 offer price stands at US$ 2195 per tonne. The LME aluminium opening stock slightly dropped to 1131100 tonnes. Live...
