The most-traded SHFE aluminium contract did not trade during the night session of September 24 and the daytime session of September 25. On September 24, the daytime session opened at RMB 24,230 per tonne, reached a high of RMB 24,265 per tonne and a low of RMB 24,175 per tonne, and closed at RMB 24,200 per tonne, down RMB 30 per tonne or 0.12 per cent from the previous close. Futures consolidated at highs before pulling back, with prices falling below the 5-day moving average while remaining above the 20/40/60-period moving averages. Medium and long-term moving averages maintained an upward pattern. Trading volume during the session was 98,900 lots, and open interest stood at 281,000 lots, down 8,300 lots, driven mainly by bulls closing positions. On the technical front, a death cross...
LME aluminium prices moved higher across cash and forward contracts on September 25, while the Asian Reference Price and alumina Platts price also increased. Opening stocks remained unchanged, while cancelled warrants rose sharply. The LME aluminium cash bid price rose 0.80 per cent to USD 3,253 per tonne on September 25 from USD 3,227 per tonne on September 24 . The cash offer price showed a similar trend. It also increased 0.80 per cent to USD 3,254 per tonne from USD 3,228 per tonne. Explore the production, demand and consumption forecasts of bauxite and alumina in our report: " Global Bauxite & Alumina Market Forecast to 2036: Supply–Demand, Trade Flows & Price Outlook " The three-month aluminium bid price rose 0.40 per cent to USD 3,265 per tonne from USD 3,252 per tonne, while the...
Grow with
AL Circle
<p>As expected, the average prices of A00 Aluminium has registered a substantial gain across all major Chinese markets (North, South, North-East and South-West) today based on the news in the market that China Hongqiao Group will shut down 2.6 million tonnes of aluminium capacity before October. Market participants expect that more than 2 million tonnes capacity cut by the largest aluminium producer in the world would make a sizable difference in the aluminium inventory.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/chart%20(29).jpeg" alt="News" width="517" height="226" /></p> <p>On August 3, among the domestic markets, the average price for A00 Aluminium Ingot for North China market has increased to RMB...
<p>LME aluminium crosses the US$1,900 per tonne level and settles at US$1,904 per tonne after night trading on Wednesday, August 2. The rise from the earlier close of US$1,887 per tonne on August 1 suggests that the light metal is currently on an uptrend. However, Reuters’ technical analysis says that LME aluminium is neutral in a range of US$1,922-US$1,938 per tonne; and only an escape from this range could suggest a direction.</p> <p>According to Shanghai Metals Market forecast, LME aluminium should move at highs of US$1,917-1,933 per tonne on Thursday, August 3.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/LMEAluAug3.jpg" alt="News" width="517" height="245" /></p> <p>As on August 2, LME official cash buyer...
<p>According to a news report from Reuters, China Hongqiao Group Limited, the biggest aluminium producer in China said that they have planned to cut 2 million tonnes per year of outdated aluminium capacity.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/4c8047df194fca677aea0675efa48117.jpg" alt="news" width="448" height="300" /></p> <p>The company said that it expects the production to continue to be at similar levels to current production, albeit outdated capacity cuts. Also, the company anticipates that this outdated capacity cut will not impact its financials, cashflow or regular production.</p> <p><a title="Reprots1" href="http://www.alcircle.com/exclusivereport/?m=exclusivereport"...
<p>Rio Tinto has announced production and financial results for the first half of 2017 and reported cash generation of $6.3 billion and cash returns to shareholders of $3.0 billion.</p> <p>Commenting on the results, Rio Tinto chief executive J-S Jacques said “By driving performance, focusing on cash and allocating it with discipline we are delivering superior cash returns to our shareholders.”</p> <p>“We are now shifting gear to focus on the untapped value from our productivity programme and continue to strengthen our portfolio to build higher returns for the future,” he added.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/rio%20tinto%203.png" alt="News" width="517" height="226" /></p> <p>The...
<p>The China aluminium market is fluctuating almost every day over the uncertainty regarding the current aluminium capacity cut in the country. The average prices for A00 ingot dropped across all major China markets (North, South, East, North-East and South-West) on August 2 after a quick boost the day before. </p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/chart%20(28).jpeg" alt="News" width="517" height="226" /></p> <p>Among the domestic markets, the average price for A00 Aluminium Ingot for North China market has dropped to RMB <strong>14,210/t</strong>. In the South China market the price dropped to RMB <strong>14,285/t. </strong>The price gap between the two market increased toRMB <strong>75/t. </strong></p>...
<p>After firming up slightly on support from a weaker dollar and rising crude oil prices on Monday at US$1,904 per tonne, LME aluminium plunged again to US$1,887 on Tuesday, August 1. It plunged below the expected range of US$1,905-1,925 per tonne.</p> <p>As observed by Shanghai Metals Market, LME aluminium should continue struggling around moving averages and range USD 1,903-1,917/mt today.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/lme2aug.jpg" alt="News" width="517" height="226" /></p> <p>As on August 1, LME official cash buyer aluminium price (Bid Price) stands at US$1,886per tonne, cash seller & settlement aluminium price (Offer price) is US$1,887 per tonne, 3M Bid Price is US$1,908 per tonne, 3M Offer Price...
<p>After much awaiting for an official announcement of actual aluminium production cuts taken up by China, Xinfa Group has confirmed closing of 530,500 tonnes of annual illegal aluminium production capacity. A statement by a local government in eastern Shandong province has confirmed this to Media.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/aluminium.jpg" alt="News" width="517" height="226" /></p> <p>According to an update by Chiping county government on its website, a team of experts from Jinan-based Ailinte Safety Technology Consulting Co and local government officials and Xinfa Chairman Zhang Xuexin, had visited Xinfa smelting facilities on July 30 to check the status and confirmed that the...
<p>LME aluminium firms up slightly gaining support from a weaker dollar and rising crude oil prices on Monday, July 31. The light metal which closed at US$1,892 per tonne last Friday, July 28, settled at US$1,904 per tonne after yesterday’s night trading. However, the gain is likely to be limited within the range US$1,905-1,925 per tonne on Tuesday, August 1, as LME aluminium faces strong resistance at the moving averages, observes Shanghai Metals Market.</p> <p>According to Reuters’ technical analysis, LME aluminium is biased to break a support at US$1,909 per tonne and retrace the next support level at US$1,896 per tonne in the short term. A break above US$1,909 per tonne in the upper trendline may take the light metal contract to US$1,926.50-1,938 per tonne during later...
<p>It is almost certain now that China is slashing production in aluminium smelters located around Beijing ahead of the winter heating season. Recently, the government also initiated a series of illegal capacity cuts to check pollution caused by alumina refineries and aluminium smelters in major production hubs. The two-pronged strategy with one action already implemented and the other one- announced, sent out a message of widespread supply-side readjustment in the global market which buoyed up aluminium prices at London Metal Exchange. But, it seems that not all things that are visible are open at China’s end, at least, that is what the analysts opine.</p> <p style="text-align: center;"><img style="vertical-align: middle;"...
<p>According to the National Development & Reform Commission (NDRC), China produced 27.60 million tonnes of ten nonferrous metals in the first half of 2017, up 7.2% year-on-year. The growth increased 7.1% from the same period of last year.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/Aluminium_ingot.jpg" alt="news" width="448" height="300" /></p> <p>China’s aluminium production stood at 16.84 million tonnes in the first half of 2017. The production increased 8.8% year-on-year, and growth was down 1.9% over the same period of last year.</p> <p>Alumina production increased 19.7% year-on-year to 37.22 million tonnes in the first half of 2017, down 1.6% in the same period of last...
<p>Power outage was the single biggest cause behind plotline failures that happened in aluminium smelters across the world from 2013 to 2017, an exclusive report by AlCircle reveals. The report titled- Potline Failure in Aluminium Smelters: Observations and Recent Case Studies (2013-2017), is awaiting release shortly. The study looks into major case studies that made headlines in the global primary aluminium sector during the period under review.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/Potline31072017.jpg" alt="" width="419" height="553" /></p> <p>Aluminium smelting whereby aluminium is extracted from its oxide, alumina, using the Hall-Héroult method, is a continuous process. The potline is kept in...
<p>Audubon Metals LLC, located in Henderson, Kentucky, is ready to expand its Henderson plant with $8.3 million investment. This would lead to the creation of 39 full-time jobs. The expansion will add production capacity to meet the growing market demand.</p> <p>Governor of Kentucky Matt Bevin announced this latest investment on Friday. Bevin said that the expansion also further demonstrates the strength of Kentucky’s aluminium industry.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/Warehouse_Ingot.jpg" alt="news" width="448" height="300" /></p> <p>The company will construct 21,000-square-foot addition at its facility to house a fifth reverbatory furnace for aluminium smelting. The...
<p>LME aluminium underperformed compared to other base metals on the last trading day of the week ending July 29. Unable to draw support from a weak US dollar and rising crude oil prices, the light metal fell by 1.61 per cent from its earlier close at US$1,923 per tonne July 27, to US$1,892 per tonne on Friday, July 28. It seems, the effect of the news on supply side reforms is slowly fading from the market; and that is reflected in aluminium prices reversing its uptrend on LME.</p> <p>Reuters’ technical analysis suggests that LME aluminium may retest a support at US$1,909 per tonne. On the higher trend line, there is a ‘pullback’ at US$1,922 per tonne. A break above this level may lead to a gain to US41,938 per tonne.</p> <p>According to Shanghai Metals Market forecast,...
<p>China finally expressed its willingness to participate in a collaborative approach to tackle the problems galore in the aluminium market. Referring to the findings of a probe by the U.S., China Ministry of Commerce called for an un-biased “global” approach to deal with the situation.</p> <p>At a press conference held in Beijing on Thursday, July 27, Ministry of Commerce spokesman Gao Feng claimed that the USTC report had not accused the Chinese government of “sponsoring” the development of aluminium industry in the country. Any suggestion made in regard to that was untrue.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/Chinaalu_July28.jpg" alt="News" width="517" height="291" /></p> <p>The U.S....
<p>Henan Province has willingly opted to join aluminium production cut during winter season. For this, Henan provincial government has issued a notice in which it announced intention to add Luoyang, Pingdingshan and Sanmenxia into the list of 28 cities winter production cuts in China, SMM reported.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/smelter.jpg" alt="news" width="448" height="300" /></p> <p>Henan province’s decision is likely to affect aluminium production more than it was anticipated. The effect is expected to come in the range of 10-20%.</p> <p>In March this year, China ordered aluminium producers to curtain their production capacity in 28 cities during winter months to...
<p>A00 ingot prices got a boost in all major China markets on the back of aluminium capacity cut news buzzing in the market. It was also fuelled by Rusal’s estimate published yesterday that says winter cuts by Chinese government may result in an annualized production loss of 1.2 million tonnes in China at the end of the year.</p> <p>The average prices for A00 Aluminium Ingot for all major Chinese markets (North, South, North-East and South-West) have registered a leap on July 28.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/chart%20(26).jpeg" alt="News" width="517" height="226" /></p> <p>Among the domestic markets, the average price for A00 Aluminium Ingot for North China market has increased to RMB...
<p>Aluminium China 2017 was special for AlCircle. The mega event and indubitably Asia's top trading, sourcing, networking and branding platform for the whole aluminium industry value chain stood witness to AlCircle reaching an important milestone in its journey since 2010. The leading aluminium industry website launched its Chinese version- AlCircle China-focussed on the biggest aluminium producing region and consumer market of the world.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/AlChina28_1.jpg" alt="News" width="517" height="344" /></p> <p>When it comes to new-age aluminium industry dynamics, any discussion remains incomplete without the mention of China. The country, home to the largest aluminium producing...
<p>UC RUSAL the leading global aluminium producer, announces operating results for the second quarter 2017. Aluminium production in Q2 2017 increased 1.2% QoQ to stand at 921 thousand tonnes. Notably, 94% of total aluminium output was contributed by Siberian smelters. Smelters utilization remained on average at a high of 95%. One more working day in the second quarter 2017 helped in the rise in production.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/rusal%20result2.jpg" alt="News" width="624" height="258" /></p> <p>Total aluminium sales volume stood at 1,002 thousand tonnes, up 1.7% QoQ. Total value added product sales increased 13.1% to 493 thousand tonnes from 436 thousand tonnes in Q1 2017. The share of...
