1. Macro perspective The US-Iran conflict entered its second week. After the escort coalition intervened, traffic through the Strait of Hormuz partially recovered, but war risk insurance rates remained elevated. Brent crude pulled back from a high of USD 101 to consolidate around USD 95, with energy cost support weakening from earlier levels but not yet fading. The US Fed delivered a 25bp rate hike at its September FOMC meeting, and the dot plot indicated one more hike may still occur this year. Chair Warsh struck a hawkish tone in his post-meeting remarks, and the US dollar index held at a 13-month high. Next week, attention turns to China's official PMI on September 30, as well as US PCE and non-farm payrolls data during the National Day holiday—with China's market closed for seven days...
According to data released by the General Administration of Customs of the People's Republic of China (GACC), China's total primary aluminium imports reached 185,500 tonnes in August 2026, down 14.65 per cent year-on-year but up 0.16 per cent month-on-month. Total imports for January-August amounted to 1.66 million tonnes, a decrease of 3.41 per cent year-on-year. The 14.65 per cent year-on-year decline in August imports, coupled with a nearly flat month-on-month performance, indicates that imports have not collapsed but rather maintained a steady inflow. In August, China's total primary aluminium exports stood at 21,900 tonnes, down 14.53 per cent year-on-year and 30.48 per cent month-on-month. Cumulative exports for January-August totalled 167,500 tonnes, up 9.26 per cent year-on-year....
Grow with
AL Circle
According to Shanghai Metals Market, the A00 aluminium ingot price has extended its drop today, on January 3, to RMB 13,270 per tonne from RMB 13,310 per tonne, as of January 2. Since the reopening of the market in the New Year 2019, the Chinese A00 aluminium ingot price has recorded a plunge for the past two days in a row. Today, the average prices are expected to range between RMB 13,250 per tonne and RMB 13,290 per tonne, with spot discounts to settle at RMB 60 per tonne to RMB 20 per tonne. The aluminium ingot price in the east Wuxi and Hangzhou has declined by RMB 40 per tonne and RMB 35 per tonne to stand at RMB 13,290 per tonne and RMB 13,305 per tonne, respectively. The A00 ingot price in the south and north, on the other hand, has plunged by RMB 60 per tonne and RMB 40 per tonne...
Slow year-end trading lowered the US dollar fell against the yen and euro on Monday as optimism over US-China trade dispute dented its safe-haven allure. However, the greenback stayed on track to log its strongest annual performance in three years. Base metals ended mixed on Monday, December 31. LME aluminium closed Monday’s trading at US$ 1869.50 per tonne, further down from Friday, December 28. The exchange remained closed on January 1 for New Year’s Day holiday. LME aluminium is likely to maintain its weak trend and hover at US$1,840-1,875 per tonne today. SME and SHFE Aluminium Price Trend The benchmark aluminium price on Shanghai Metal Exchange started the week lower after the holidays at US$ 1942 per tonne on Wednesday 2 January. Improved cash flow issues at domestic alumina plants...
According to Shanghai Metals Market, Weiqiao Group lowered its prebaked anode purchasing prices by RMB 130 per tonne after it cut prices by RMB 50 per tonne in December. For January the prices are hovering at RMB3,460 per tonne in cash and RMB 3,495 per tonne on acceptance. Prebaked anode prices in east China market declined RMB 130 per tonne on January 2, 2019. Average price of prebaked anode stood at RMB 3,495 per tonne today. The price is expected to range between RMB 3395 per tonne RMB3595 per tonne. Prebaked anode prices in Central, South-west and North-west remained unchanged at RMB 3610 per tonne, RMB 3900 per tonne, and RMB 4000 per tonne respectively. Price of cryolite is currently ranging at RMB 5900-6100 per tonne. The price of aluminium fluoride is hovering at 11100- 11300 per...
According to Shanghai Metals Market, social inventories of primary aluminium across eight major consumption areas in China, including SHFE warrants, stood at 1.3 million tonnes as of Wednesday January 2, up 16,000 tonnes from Thursday December 27. This followed after a week-on-week increase of 6,000 tonnes on Thursday December 27. The current status of primary aluminium inventories across China is given in the chart below: A00 aluminium ingot price dropped RMB 130 per tonne to RMB 13,310 per tonne on January 2.Today, the average prices are expected to range between RMB 13,290 per tonne and RMB 13,330 per tonne, with spot discounts to settle at RMB 100 per tonne to RMB 60 per tonne. In the East(Wu Xi) and East(Hang Zhou), the A00 aluminium ingot prices dropped by RMB 155 per tonne to...
With the international aluminium price hovering at 20-month low, the earnings outlook for the domestic aluminium producers are at a risk and is banking heavily on import duty hike. Currently the three months LME aluminium prices are at US$ 1846 per tonne, much lower than what analysts had estimated. Earnings estimates were largely made with US$1,940 a tonne as the price benchmark. The downturn in price will lower the earnings estimate significantly and the industry is banking on import duty hike. Indian primary aluminium industry has proposed an increase in import duty on scrap and primary aluminium from 2.5 per cent and 7.5 per cent, respectively, to 10 per cent. Though an increase in import duties may offer some support, earnings outlook would remain weak due to the falling...
The US dollar index dipped below 97 as stocks traded higher after a week of price swings. LME base metals traded weak on Monday and aluminium dropped further. The SHFE was closed for the New Year's Day holiday. LME aluminium closed Monday’s trading at US$ 1869.50 per tonne, further down from Friday, December 28. The exchange will remain closed today for New Year’s Day holiday. As on December 31, LME aluminium cash (bid) price stood at US$ 1868.50 per tonne, LME official settlement price stands at US$ 1869.50 per tonne; 3-months bid price stands at US$ 1845.50 per tonne, 3-months offer price is US$ 1846 per tonne; Dec 19 bid price stands at US$ 1918 per tonne, and Dec 19 offer price stands at US$ 1923 per tonne. The LME aluminium opening stock increased slightly to 1267125 tonnes. Live...
The US dollar index dipped on Friday as stocks traded higher after a week of price swings. LME base metals traded mixed on Friday and aluminium dropped 0.7%. SHFE base metals also saw mixed performance and aluminium plunged 0.9%. The SHFE was closed overnight for the New Year's Day holiday. LME aluminium closed Friday’s trading at US$ 1881 per tonne, down from Thursday, December 27. The contract might show some gain during today’s trading before the New Year’s Day holiday on 1st. As on December 28, LME aluminium cash (bid) price stood at US$ 1880 per tonne, LME official settlement price stands at US$ 1881 per tonne; 3-months bid price stands at US$ 1856.50 per tonne, 3-months offer price is US$ 1857 per tonne; Dec 19 bid price stands at US$ 1930 per tonne, and Dec 19 offer price stands at...
According to a report, Aluminium Bahrain (Alba) commenced operations at Casthouse 4 on December 26, 2018, the biggest furnace in the kingdom-based aluminium smelter’s history. Alba’s board of directors Shaikh Daij bin Salman bin Daij Al Khalifa and deputy chief executive officer Ali Al Baqali attended the opening of the first cold-charge of Furnace 3 at Casthouse 4. Representatives from the Alba executive management team, the Casthouse 4 start-up team, Bechtel, and other major contractors were also in attendance. On this occasion, Shaikh Daij said: “We are pleased with this milestone, which is another turning point in Alba’s journey towards becoming the largest smelter in the world. With this landmark, we are on track to cast final products from CH 4 -- another success in the Safe...
The US dollar index saw a weak run over the week as investors flocked to safe-haven currencies following another volatile trading session of US stocks market. LME aluminium saw a bearish week as the removal of US sanctions on Rusal created a relaxed atmosphere in the market. The week saw three trading days as the LME was closed on Tuesday for Christmas and on Wednesday for Boxing Day. LME aluminium started the week’s trading on 24th December at US$ 1898.50 per tonne, lowest in last two years. After the two holidays, it opened lower again and then extended its losses on Thursday night hovering at US$ 1898 per tonne. Finally, the aluminium contract closed the week at US$1881 per tonne. It is expected to trade at US$1,850-1,900 per tonne in the coming week. As on December 28, LME aluminium...
The US dollar index weakened on Thursday as investors flocked to safe-haven currencies following another volatile trading session of US stocks market. LME base metals traded mixed on Thursday after a two-day closure for the Christmas holiday, but, aluminium dropped 1.2%. SHFE base metals, except for lead, ended in the black across the board overnight and aluminium fell over 1%. LME aluminium closed yesterday’s trading on a bearish note at US$1898 per tonne, almost flat from where it stood before the holidays. The aluminium contract then extended its losses on Thursday night as the removal of US sanctions on Rusal created a relaxed atmosphere in the market. It is expected to trade at US$1,840-1,880 per tonne today. As on December 27, LME aluminium cash (bid) price stood at US$ 1897 per...
Russian aluminium company Rusal said on Friday that Mr. Jean-Pierre Thomas, an independent non-executive director of the Company, has been appointed as the chairman of the Company with effect from 1 January 2019. The previous chairman, Matthias Warnig, resigned from his post earlier this week after six years at the world’s largest aluminium producer outside China. The US Treasury said last week it would remove sanctions against Rusal, its parent En+ and power firm EuroSibEnergo if they restructured to reduce the controlling stakes of businessman Oleg Deripaska, who is on Washington’s sanctions list. “I am confident that I can hand over to my successor a successfully developed company. My mission is completed.” “The planned removal from the sanctions list had put the company on the verge...
According to Shanghai Metals Market, the A00 aluminium ingot price has extended its drop today, on December 28, to RMB 13,440 per tonne from RMB 13,540 per tonne on the previous day. Today’s price marks the lowest so far since the last two months. About a month ago on November 30, the price had reached at RMB 13,500 per tonne, but today it went below that. The average prices are expected to range between RMB 13,420 per tonne and RMB 13,460 per tonne, with spot discounts to settle at RMB 120 per tonne to RMB 80 per tonne. The average spot discounts rose by RMB 10 per tonne today from the previous day. The decline in ingot prices today touched all the major markets in China, SMM found. In the east Wuxi and Hangzhou, the ingot prices fell RMB 55 per tonne and RMB 50 per tonne and stood at...
Emirates Global Aluminium (EGA) has signed an agreement with the Emirates Scientists Council (ESC) to make nine laboratories for scientific research purposes. The MoU is a part of the ‘Open Labs’ initiative, which was launched by UAE’s Vice President and Prime Minister Sheikh Mohammad Bin Rashid Al Maktoum to provide UAE scientists with access to the most advanced laboratories. Sarah bint Yousif Al Amiri, Minister of State for Advanced Sciences and ESC Chairperson, said: “The ‘Open Labs’ platform reflects our dedication to implementing the vision of our wise leadership, which seeks to establish the UAE as a leading international destination for scientists.” “Launching the Platform under the sponsorship of the Emirates Scientists Council allows researchers and scientists to gain access to...
According to Shanghai Metals Market, spot aluminium sellers in east China showed reluctance in offloading cargoes today, December 27, on the occasion of aluminium futures price drop. In this background, the SHFE January aluminium contract fell in morning trades. Spot discounts in Shanghai were heard at RMB 80 per tonne to RMB 70 per tonne against the SHFE 1901 contract compared to RMB 100 per tonne to RMB 90 per tonne in the previous day. Most spot transactions in Shanghai and Wuxi were at RMB 13,530 per tonne to RMB 13,550 per tonne while that in Hangzhou were at RMB 13,540 per tonne to RMB 13,550 per tonne. Thus, in contrast to the previous day, the prices today were down by some RMB 140 per tonne. The drops in prices found driving the purchasing interest among traders, but at the same...
Following the board restructuring agreement for receiving release from US sanctions, Russian aluminium giant Rusal’s board chairman Mattias Warnig resigned from his post, as per the report from Reuters. The news came after Rusal officially announced on Wednesday, December 26. The US Treasury said last week it would remove sanctions against Rusal, its parent En+ and power firm EuroSibEnergo if they restructured to reduce the controlling stakes of businessman Oleg Deripaska, who is on Washington’s sanctions list. Mr. Warning stepping down from the post after six years at the world’s largest aluminium producer outside China is one of the conditions of the deal. Warning said in a statement, “I am confident that I can hand over to my successor a successfully developed company. My mission is...
Abba Aluminium Co, a manufacturer of aluminium and aluminium extruded products in Taiwan, held a ceremony on December 24 to celebrate the opening of a new manufacturing plant in Thilawa Special Economic Zone (SEZ), according to a report by The Myanmar Times. Initial investment amounted to US$13 million and 300-500 local employees will be hired, according to Abba’s chair Chen Pai-chin. The production value is estimated to stand at $32.5 million per year. Abba Aluminium, based in Taoyuan County, offers services, such as surface treatment, fabrication, aluminium plate processing, curtain wall assembly, and import billets and tensile testing. The company’s products include curtain wall, furnace, aluminium profiles, coating, industrial extrusion, and liquid coating. In an exclusive interview...
The US dollar index recovered to 97 on Wednesday as US stocks rebounded from Christmas, though uncertainty about the US government shutdown and Federal Reserve monetary policy remained a headwind. The LME was closed on Tuesday for Christmas and on Wednesday for Boxing Day and hence no trading took place in the exchange. LME aluminium closed the trading on 24th December at US$ 1898.50 per tonne, lowest in last two years. The contract is likely to try to regain losses made before Christmas Day, and trade within a range of US$1,880-1,910 per tonne. SME and SHFE Aluminium Price Trend The benchmark aluminium price on Shanghai Metal Exchange dropped to US$ 1966 per tonne today from US$ 1990 per tonne on December 26. A lack of confidence in longs dragged the SHFE 1902 contract at noon yesterday,...
According to Shanghai Metals Market, social inventories of primary aluminium across eight major consumption areas in China, including SHFE warrants, increased 6000 tonnes over the week ended on December 27, to come in at 1.29 million tonnes. More arrivals from smelters and smaller purchases from downstream buyers grew stocks on the week, following a week-on-week drop of 15,000 tonnes last Thursday. On last Thursday, December 27, the primary aluminium inventory in Shanghai was at 318,000 tonnes that increased 3000 tonnes over the week today to clock at 321,000 tonnes. The inventories in Gongyi and Henan, and Hangzhou and Zhejiang also increased from 73,000 tonnes to 81,000 tonnes and from 103,000 tonnes to 111,000 tonnes, respectively. Many other markets, on the other hand, saw plunges as...
