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....
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European Aluminium applauds EU Trade Commissioner Cecilia Malmström’s statements concerning the potential US tariffs against all aluminium products from Europe. The association representing the entire aluminium value chain with more than 600 plants all across Europe encourages the executive body to take the necessary actions to fight for European jobs by applying WTO-compatible tools. “The Commissioner ticked all the boxes during yesterday’s press conference. Yes, it’s unfair to justify any unilateral decision under the false pretense of national security. Yes, it’s out of scope because it does not fix Chinese overcapacity, which is at the heart of the problem. Yes, the EU has to respond to stand in for our interests and the respect of international trade rules. She is spot on,” commented...
China metals lost ground on Wednesday as looming U.S. trade tensions overshadowed data that showed February semi—finished aluminium exports surged at the fastest pace in three years in China. Average A00 Aluminum Ingot prices dropped to RMB 13,910 per tonne today. The prices are expected to range within RMB 13,890 to RMB 13,930 per tonne and spot discounts are expected to settle at RMB 140 to 110 per tonne. Primary ingot prices registered a drop of RMB 120 to 170 per tonne across all domestic markets. China's Foreign Minister Wang Yi remarked at the National People's Congress on Thursday March 8 that the trade war by the US will result in a 'harmful outcome' in today's globalised world. He added that China will respond as necessary in the event of a trade war with the United States. In an...
Concerns that the U.S. could slap down import tariffs on aluminium as well as steel have dragged those metals down. LME aluminium edged down during yesterday’s trading and overnight and is set to test support at $2,100/mt today. LME aluminium is struggling under increasing downward pressure and closed down at US$ 2112.50 per tonne on March 7. Shanghai Metals Market expects the contract to trade at US$2,085-2,120 per tonne. As on March 7 LME aluminium cash (bid) price stands at US$ 2112 per tonne, LME official settlement price stands at US$ 2112.50 per tonne; 3-months bid price stands at US$ 2131.50per tonne, 3-months offer price is US$ 2132 per tonne; Dec 19 bid price stands at US$ 2177 per tonne, and Dec 19 offer price is US$ 2182 per tonne. The LME aluminium opening stock has dropped to...
After the success of four successful industry reports and a Recap of 2017, AlCircle is now coming up with a comprehensive Aluminium Industry Outlook 2018. While we have wrapped up a positive and eventful year and are treading into the New Year, we are analysing how the significant developments of 2017 are shaping up the industry value chain in 2018. The year starts with a persisting volatility in the market and an impeding trade war between the East and the West, however, we are also enthusiastic about the way demand and supply has been handled in 2017, hence looking at a balanced aluminium market in 2018, with more sustainable growth. Aluminium cannot be seen as an independent commodity as the market is driven by forces that have impact on the entire value chain. The entire value chain...
A new aluminium smelter will open in New Madrid County, Missouri, at the site of the former Noranda Aluminium plant, state and federal officials said Tuesday. State Rep. Don Rone, R-Portageville, and U.S. Rep. Jason Smith welcomed the jobs the new Magnitude 7 Metals plant will create. Gov. Eric Greitens, Rone and Smith are among officials scheduled to attend the formal announcement at 2 p.m. Friday at the former smelter at St. Jude Industrial Park in New Madrid County. Magnitude 7 Metals is hiring workers for the new plant, which could generate close to 400 jobs for the area, Rone said in an online news release. The Swiss-based company purchased the smelter in bankruptcy. It was the only potential buyer that didn’t want to scrap the plant, Rone said last year. “The project has been two...
Aluminium prices in China are range bound today on the announcement by VC of the National Development and Reform Commission (NDRC) that China will continue to cut aluminium capacity in 2018. Since, no specific policy was announced; SMM observes market fundamentals to have more impact on the price movement in the near term. Average A00 Aluminum Ingot prices increased from RMB 14,060 per tonne to stand at RMB 14,080 per tonne. The prices are expected to range within RMB 14,060 to RMB 14,100 per tonne and spot discounts are expected to settle at RMB 160 to 120 per tonne. Average primary ingot prices registered mixed trend across all domestic markets registering moderate increase in a few markets and dropping in another. Aluminum Alloy (ADC12) price in South China market has registered an...
With the US dollar hovering around the 90 level at the backdrop of the trade war between the US and other countries, base metals are expected to remain rangebound. LME aluminium started the week with a drop and remained almost flat today. In the short term, Shanghai Metal Market expects the US dollar to continue to hover at 89.9 with resistance. LME aluminium is struggling to stay afloat under increasing downward pressure and closed almost flat at US$ 2136 per tonne on March 6. The contract is gaining support at the five-day moving average. The contract is expected it to trade at US$2,140-2,160 per tonne today. As on March 6, LME aluminium cash (bid) price stands at US$ 2135.50 per tonne, LME Official Settlement Price stands at US$ 2136 per tonne; 3-months bid price stands at US$ 2154.50...
Since Press Metal Aluminium exports minimal amount of primary aluminium products to the United States, Trump’s proposed tariffs on aluminium and steel imports will have minimal impact on its business. Malaysia’s Press Metal said in an exchange filing on Monday, March 5. “We understand that the market is concerned after learning about the potential tariff on aluminium which may be implemented by the US. We have been monitoring this development and we feel the current direct impact to our business is minimal.” “Press Metal exports a very minimal amount of its primary aluminium products to the US. Including extrusion products, our exposure to the US market is less than 1% of our total revenue,” company said. The company said that primary aluminium consumption in the US was almost six million...
Emirates Global Aluminium, the largest industrial company outside oil and gas, has signed a Memorandum of Understanding with Abu Dhabi Ports, to work together to develop opportunities for Abu Dhabi Ports to upgrade ports, logistics infrastructure and services abroad used by EGA to load raw materials destined for the UAE. The agreement could lead to new international business opportunities for Abu Dhabi Ports, enable more efficient shipping for EGA, and spur economic growth around the ports by creating opportunities for other trade. The agreement was signed at EGA’s headquarters at Al Taweelah in Khalifa Industrial Zone Abu Dhabi by Captain Mohamed Juma Al Shamisi, Chief Executive Officer of Abu Dhabi Ports, and Abdulla Kalban, Managing Director and Chief Executive Officer of EGA. Captain...
With the growing domestic aluminium inventory and slow demand, both alumina and aluminium prices in China registered fall yesterday. However, China has registered a rise in prices of A00 aluminium ingot prices today. Primary aluminium ingot price also increased across all markets. Average A00 Aluminum Ingot prices increased from RMB 13,960 per tonne to stand at RMB 14,060 per tonne. The prices are expected to range within RMB 14,040 to RMB 14,080 per tonne and spot discounts are expected to settle at RMB 150 to 110 per tonne. In an update from SMM, China's social inventory of refined aluminium including SHFE warrants amounted to 2.19 million tonnes as on Monday March 5, according to data. This is up from 2.13 million tonnes recorded on Thursday March 1. Primary ingot prices registered an...
With the US dollar hovering around the 90 level at the backdrop of the trade war between the US and other countries, base metals saw mixed trading. LME aluminium started the week with a drop. In the short term, Shanghai Metal Market expects the US dollar to continue to hover at 89.9 with resistance, and base metals to remain rangebound. LME aluminium is facing increasing downward pressure and closed further down at US$ 2135 per tonne on March 5. The contract is gaining support at the five-day moving average. SMM expects it to trade at US$2,135-2,160 per tonne today. As on March 5, LME aluminium cash (bid) price stands at US$ 2134.50 per tonne, LME official settlement price stands at US$ 2134 per tonne; 3-months bid price stands at US$ 2140 per tonne, 3-months offer price is US$ 2140.50...
LME aluminium closed the last week with a slight increase after US President Donald Trump announced that the country would impose a 10% global tariff on all imported aluminium. The contract traded higher over the day and finally closed at USD2144 per tonne on Friday, March 2. Shanghai Metals Market observes that with the US dollar index falling below the 90 level, LME aluminium is expected to test the five-day moving average with resistance at the 10- and 20-day moving averages today and expected to trade within a range of $2,137-2,164 per tonne. As on March 2, LME aluminium cash (bid) price stands at US$ 2143 per tonne, LME Official Settlement Price stands at US$ 2144 per tonne; 3-months bid price stands at US$ 2151 per tonne, 3-months offer price is US$ 2151.50 per tonne; Dec 19 bid...
After the US President Trump announced that a tariff of 10 % will be imposed on aluminium exports from all countries, European Aluminium calls on the European Commission and EU Member States to safeguard the European aluminium industry. The announcement came after the department of Commerce had published its recommendations of the Section 232 report. “We regret President Trump’s decision to impose a tariff on all aluminium imports independent of their country of origin. European aluminium exports to the US, in view of both their quantity and characteristics, do not pose any threat to US national security. Most importantly, this blanket tariff does not address the root cause of the main challenges faced by the aluminium industry today: the unsustainable and steady increase of aluminium...
As updated by Shanghai Metals Market on the face of growing inventory and slow demand from smelters Weiqiao Group has lowered its prebaked anode purchasing price by RMB 200 per tonne for March at RMB 3,890-4,050 per tonne delivered. The March price followed an RMB 150 per tonne cut for February. The price drops indicate signs of an oversupplied prebaked anode market due to falling demand during the winter heating season. This led to an RMB 325 per tonne drop in the average prebaked anode price in the central China market bringing it down to RMB 3900 per tonne. In another update from SMM, China's social inventory of refined aluminium including SHFE warrants amounted to 2.13 million tonnes as of Thursday March 1, according to data. This is up from 2.07 million tonnes recorded on Monday...
As seen by Shanghai Metals Market LME aluminium is still under pressure from the strong US dollar and dropped to close at USD2143 per tonne on Thursday, March 1. LME aluminium rebounded and hit a high at $2,164.5 per tonne after US President Donald Trump announced that the country is to impose a 10% global tariff on aluminium. The contract is expected to trade higher today on positive sentiments. As on March 1, LME aluminium cash (bid) price stands at US$ 2142 per tonne, LME aluminium cash (offer) price stands at US$ 2143 per tonne; 3-months bid price stands at US$ 2136 per tonne, 3-months offer price is US$ 2138 per tonne; Dec 19 bid price stands at US$ 2173 per tonne, and Dec 19 offer price is US$ 2178 per tonne. The LME aluminium opening stock today drops to 1322150 tonnes, Live...
As seen by Shanghai Metals Market LME aluminium came under pressure from the strong US dollar and slipped to a low of USD2,129/t overnight and finally closed at USD2158 per tonne on Wednesday, February 28. Since LME aluminium inventory growth has come to a halt, aluminium prices on the bourse are expected to firm up soon. As on February 28, LME aluminium cash (bid) price stands at US$ 2158 per tonne, LME aluminium cash (offer) price stands at US$ 2158.50 per tonne; 3-months bid price stands at US$ 2137 per tonne, 3-months offer price is US$ 2138 per tonne; Dec 19 bid price stands at US$2,185 per tonne, and Dec 19 offer price is US$2,190 per tonne. The LME aluminium opening stock today stood at 1324475 tonnes, Live Warrants totalled at 1093400 tonnes, and Cancelled Warrants were 231075...
After staying passive since the reopening of trading after the Chinese New Year Holidays, buying started getting active in the aluminium physical market on Tuesday February 27. As said by Shanghai Metals Market, active trading has narrowed spot discounts. After a moderate gain yesterday, average A00 Aluminum Ingot prices gained again today to RMB 14,020 per tonne. The prices are expected to move within a range of RMB 14,000-14,040. Spot discount will range within RMB 200-160 per tonne today. In Shanghai and Wuxi, trading prices ranged at RMB 13,970-14,020 per tonne with spot discounts of RMB 200-180 per tonne against the SHFE 1803 contract. In Hangzhou trading took place at RMB 13,950-13,970 per tonne while those in Guangdong were seen at RMB 14,040-14,090 per tonne. On aluminium rod,...
The benchmark aluminium price on London Metal Exchange slipped further from US$2,188.50 per tonne to US$2,172.52 per tonne on Tuesday, February 27, as stocks were available and selling was regular. But finally LME aluminium inventory growth has come to a halt, which means aluminium prices on the bourse will firm up. Shanghai Metals Market opines that LME aluminium will stay firm in the near term trading at US$2,140-2,167 per tonne on Wednesday, February 28. As on February 27, LME aluminium cash (bid) price stands at US$2,171.50 per tonne, LME aluminium cash (offer) price stands at US$2,172.50 per tonne; 3-months bid price stands at US$2,146 per tonne, 3-months offer price is US$2,147 per tonne; Dec 19 bid price stands at US$2,198 per tonne, and Dec 19 offer price is US$2,203 per tonne....
