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
As reported by Shanghai Metals Market, China's social inventory of primary aluminium including SHFE warrants, across eight consumption areas continued its decline and stood at 1.28 million tonnes as of Monday December 17. This volume is about 18,000 tonnes less from the stock on Thursday December 13. The commissioning of new production capacity has slowed down as the prices are not gaining as expected. Last Thursday, supply cut at smelters lowered stocks by 57,000 tonnes on the week. The current inventory status in the major Chinese cities is as follows: Average A00 Aluminum Ingot price stands at RMB 13540 per tonne today, flat after a drop on last Friday. Spot Premium and Discount are ranging from RMB 10 to 30 per tonne, about RMB 10 higher than the last trading day. As for input costs...
The US dollar reached a 19-month high against a basket of currencies on Friday, as investors preferred the safety of the world's reserve currency in the wake of political and economic turmoil outside the US. Most LME base metals traded lower on Friday while SHFE base metals ticked higher across the board on Friday night. LME aluminium dropped about 0.2%.while SHFE Aluminium climbed 0.2%. LME aluminium closed Friday’s trading at US$ 1908 per tonne and gained some losses at night trading. The contract however dropped to a low of US$1,918 per tonne on Friday before it recovered some losses to end at US$1,925.5 per tonne. The stronger US dollar is expected to continue to weigh on LME aluminium, which is likely to trade at US$1,915-1,935 per tonne today. As on December 14, Friday, LME...
Sohar Aluminium (SA) recently announced the appointment of Agnello Borim as Chief Operating Officer (COO). In his new capacity, he will be leading the Reduction Operations, Services and Maintenance, Technical Department, Anode Plant, Casthouse, Port and Lab Areas. Borim will also be the custodian of the company’s Productivity Pillar, overseeing the development of the strategies and contributing in driving the overall business strategy of Sohar Aluminium. Borim has 28 years of experience working in large global companies in the metallurgical and mining sector while holding leadership positions such as Vice President and Director in complex industrial facilities that included some of the largest producers of primary Aluminium in the world. These include Alcoa, Saudi Arabian Mining Company...
The greenback recovered to 97 in the beginning of this week following its steepest weekly drop in three months last week. US President Donald Trump's upbeat comments on trade talks with China and Beijing's first major purchase of US soybeans in months have cut down on the trade war tensions. LME aluminium continued to trade weakly over the weak despite recovering some losses. The contract saw a trading range of US$ 1908- 1951 per tonne. Though the contract opened higher on Monday, it followed a steady downtrend with the strong US dollar and in absence of strong market fundamentals. LME aluminium contract failed to stand firm above the 10-day moving average with resistance at the 20-day moving average. We expect it to remain weak in the coming week with most transactions within a range of...
Rio Tinto announced it has completed the sale of its Dunkerque aluminium smelter in northern France, Europe’s biggest aluminium producer, to Liberty House for $500 million. In January, Rio Tinto had accepted a purchase offer from UK industrialist Sanjeev Gupta for its Dunkerque aluminium smelter. “Liberty House, which is part of the GFG Alliance (Gupta Family Group), has committed to continuing operations at the smelter and has announced plans for the development of additional activity around the site,” according to Rio Tinto press release. Rio Tinto said the proceeds will be returned to shareholders, with the precise timing and form to be announced with Rio Tinto’s 2018 full year results.
China produced 2.82 million tonnes of primary aluminium in November 2018, up 3.9 percent from 2.72 million tonnes in October and up 19.2 percent from November 2017, according to data published by the country’s National Bureau of Statistics (NBS). The total aluminium production in the first eleven months of 2018 stood at 31.45 million tonnes up 7.5 percent year-on-year and on course for an annual record-high, the NBS data showed. On a daily basis, the world’s top aluminium maker produced 94,000 tonnes of aluminium in November, from around 88,000 tonnes in October, according to Reuters calculations. That was the highest daily rate since July. The rise in aluminium production came despite Shanghai aluminium prices falling by 2.8 percent in November and hitting two-year lows, leaving smelters...
Vedanta Ltd raised prices of aluminium ingots by more than 1% with effect from Wednesday Dec 12, making the price of P1020 / EC High purity ingot reach INR 158,758. However, the next day, it cut prices again by almost one per cent effective from December 13. With Wednesday’s hike, rates of these products were at their highest level in nearly a month. However, after the price cut, the price for Vedanta aluminium ingot stands at INR 157,500 (USD 2215) per tonne. The price cut followed nearly 3% increases in prices of these products last week. Even after the price hike today, rates of these products are down 4-5% for the quarter. The three-month future price of aluminium on the London Metal Exchange is down more than 4% for the same period. The three-month aluminium price in London Metal...
Aluminium Bahrain B.S.C. (Alba) has officially announced the commissioning of its Potline 6 with the First Pot Energisation on Thursday December 13, 2018. This is the smelter’s first step towards becoming the world’s largest aluminium smelter. Alba made a breakthrough by bringing forwards the First Hot Metal milestone ahead of its scheduled date on January 01, 2019, making it the fastest construction in the history of aluminium industry. The commissioning ceremony, held under the patronage of Alba’s Chairman of the Board of Directors Shaikh Daij bin Salman bin Daij Al Khalifa, was attended by the Executive Vice President - Midstream Operations, EGA, Dr. Ali Al Zarouni and other key EGA officials along with Alba’s Board of Directors, CEO Tim Murray, Deputy CEO Ali Al Baqali, Alba’s...
The dollar strengthened against most major currencies on Thursday on US President Donald Trump's upbeat comments on trade talks with China and Beijing's first major purchase of US soybeans in months. Both LME and SHFE base metals closed mixed on Thursday. LME aluminium slipped 0.3% and SHFE aluminium dipped 0.04%. LME aluminium continued its downward trend and closed Thursday’s trading at US$ 1924 per tonne. Despite a higher open at night, LME aluminium reversed earlier gains and slid to close at US$1,930 per tonne on Thursday night. We expect it to remain weak today with most transactions at US$1,925-1,945 per tonne. As on December 13, Thursday, LME aluminium cash (bid) price stood at US$ 1923 per tonne, LME official settlement price stands at US$ 1924 per tonne; 3-months bid price...
As reported by Shanghai Metals Market, China's social inventories of primary aluminium across eight consumption areas including SHFE warrants amounted to 1.295 million tonnes as of Thursday December 13.This is down from 1.352 million tonnes recorded on Thursday December 6. Supply cuts accounted for the 4.2% week-on-week decline that exceeded the 2.5% drop in the previous week, SMM data showed. The below chart shows the current status of primary aluminium inventories across China as of December 13: In another update from SMM, the A00 aluminium ingot price registered a drop from RMB 13550 per tonne to RMB 13540 per tonnes on Thursday, December 14.The average prices are expected to range between RMB 13,520 per tonne to RMB 13,560 per tonne. In the east (Wuzi), the ingot price declined RMB 15...
Trade Fair and Aluminium Congress will join forces on the Indian market for the first time from 31 January to 2 February, at Bhubaneswar, Odisha, India, when ALUMINIUM INDIA 2019 and INCAL Conference will take place concurrently. A press update from Reeds Exhibition says representatives from the most important industrial regions- India, China, North America and Europe will come together during the twin events. Around 100 exhibitors will be showcasing the entire spectrum of the aluminium sector ranging from raw materials and processing to end user applications. The two events will demonstrate the potential of the Indian market. The fair will connect the international aluminium industry with producers, processors and customers from India in order to initiate investment projects and business...
Rising prices of coal and winter production curbs are making aluminium producers in Northern China unprofitable and they are closing down capacities to transfer the same to south China. Henan-based Zhongfu Industrial has decided to shut its subsidiary, Linfeng Aluminum & Power in Linzhou city of Henan as announced on Wednesday December 12. Operations in Linfeng plant, which has an annual capacity of 250,000 tonnes of primary aluminium, was suspended from the end of October. The plant accounted for 30% of Zhongfu’s overall aluminium capacity. Henan Zhongfu Industrial and Henan Linzhou Linfeng Aluminum & Power announced in November 7 that they would construct an environmentally-friendly aluminium project in Guangyuan city of Sichuan province. The project will have an annual capacity of...
Shanghai Metals Market expects spot aluminium discounts across Chinese markets to widen at the end of December as new capacity, pledged cargoes, and stockpiles across producers are likely to grow supplies to the markets. According to SMM assessments, the A00 aluminium prices have been flat with the SHFE December contract for four consecutive trading days as of Wednesday, December 12. Limited supplies across the markets accounted for the recent strength in spot prices. Recently, several big traders made large purchases at higher price, which in turn, depleted supplies across the spot markets and pushed up prices. In the meantime, social warehouses saw fewer arrivals. SMM data showed that primary aluminium inventories across major consumption areas in China recorded a decline by some...
The dollar index hit a month-peak against a basket of currencies on Tuesday and stands at 97.07 today. Both LME and SHFE base metals closed mixed on Wednesday. LME aluminium stayed flat and SHFE aluminium slid some 0.3%. LME aluminium closed Wednesday’s trading at US$1928 per tonne, lower than Tuesday. While LME aluminium opened higher on Wednesday, it traded lower to end at US$1,936 per tonne. As the US dollar index stays above 97, LME aluminium still faces pressure and is expected to be weak today with a trading range of US$1,925-1,945 per tonne. As on December 12, Wednesday, LME aluminium cash (bid) price stood at US$ 1927 per tonne, LME official settlement price stands at US$ 1928per tonne; 3-months bid price stands at US$ 1936 per tonne, 3-months offer price is US$ 1937 per tonne;...
Shanghai Metals Market research found that lowered aluminium prices on Wednesday morning, Dec-12-18, boosted the purchasing enthusiasm among spot aluminium downstream consumers across east-China markets compared to the previous day. The SHFE December contract inched down during morning trades. Spot premiums in Shanghai remained unchanged at up to RMB 10 per tonne while transactions in Shanghai and Wuxi done at RMB 13,530 per tonne to RMB 13,540 per tonne and at RMB 13,570 per tonne to RMB 13,580 per tonne in Hangzhou. Trade prices lost some RMB 60 per tonne from the prior day. Across the eastern markets, sellers were keen to offload cargoes to lower stocks, and trades between traders remained brisk. Most spot transactions in Guangdong were heard at RMB 13,650 per tonne to RMB 13,680 per...
The latest data from US Geological Survey indicates that the total aluminium supply in the United States (Primary production, secondary recovery, and imports for consumption) stood at an estimated 7.6 million tonnes through September 2018, down 3% over the same period of 2017, where the supply stood at 8 million tonnes. {newsStudioGallery} Out of the total supply of aluminium, the US imported about 4.3 million tonnes of aluminium in the period from January to September 2018. Export during the same period stood at 1 million tonne. Apparent consumption ( total supply minus export) during the first three quarters of 2018 stood at about 7 million tonne. When we look at the export statistics year over year, we see that the export of crude and alloyed aluminium and semi-finished aluminium stood...
The dollar hit a month-peak against a basket of currencies on Tuesday, as China and the US discussed plans for talks to avert a trade war between the world’s two biggest economies. Both LME and SHFE base metals ended in mixed territory overnight. LME aluminium fell 0.6% and aluminium dipped 0.2% and 0.3% respectively. LME aluminium closed Tuesday’s trading at US$1949.50, slightly lower than Monday. As the US dollar rose, LME aluminium came off from the day’s highs of US$1,965 per tonne to close at US$1,936 per tonne on Tuesday night. With the dollar’s strength, LME aluminium is likely to remain weak and trade within a range of US$1,930-1,960 per tonne today. As on December 11, Tuesday, LME aluminium cash (bid) price stood at US$ 1949 per tonne, LME official settlement price stands at US$...
After a rise in last two consecutive days, the A00 aluminium ingot price again recorded a plunge today, on December 12, from RMB 13,600 per tonne to RMB 13,540 per tonne, Shanghai Metals Market learned. The average prices are expected to range between RMB 13,520 per tonne and RMB 13,560 per tonne, with spot discounts still remaining the same at RMB 20 per tonne. The ingot prices in the east market (Wuxi and Hangzhou) plunged RMB 65 per tonne and RMB 60 per tonne and hovering at RMB 13,535 per tonne and RMB 13,575 per tonne, respectively; while the prices in the south and north dropped RMB 70 per tonne and RMB 60 per tonne to stand at RMB 13,680 per tonne and RMB 13,520 per tonne. As far as the input costs are concerned, the alumina spot price showed restraint today after recording a dip...
