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>Despite the entire buzz around China’s so called capacity cut in the alumina aluminium sector, China’s aluminium output has been growing consistently since the beginning of 2017. As reported by Shanghai Metal Market, aluminium output in China was 3.09 million tonnes in June, up 20.2% YoY, with a daily output of about 103,000 tonnes. The YTD output through June amounted to 18.296 million tonnes, up 21.7% YoY.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/china%20aluminum1.jpg" alt="News" width="517" height="226" /></p> <p>In June 2017, China’s operational aluminium capacities stood at 37.61 million tonnes, up 6.33 million tonnes YoY. SMM predicts China’s aluminum output to reach 3.19 million...
<p>The prices for A00 Aluminium Ingot for all provinces in the China markets (North, South, East, North-East and South-West) have registered a rise on July10 2017. The market is expecting a drop in aluminium output in China in July, as the major aluminium players are announcing output cuts. As predicted by SMM, China’s aluminium output would reach 3.19 million tonnes in July from 3.09 million tonnes in June, but the YoY growth is estimated to slow down to 19.3%.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/A00INGOT3.png" alt="News" width="761" height="318" /></p> <p>As seen from the figure, on July 10 2017, the average prices for A00 Aluminium Ingot for North China market have increased from RMB...
<p>The prime Minister of Australia Malcom Turnbull and Finance Minister Mathias Cormann succeeded in lobbying US President Donald Trump and other officials on the sidelines of the recently ended G20 Hamburg Summit and won import tariff exemption for Australian aluminium (and steel), reported Australian Financial Review.</p> <p>Turnbull and Cormann made a strong case in this regard in multiple meetings held parallel to the main Summit. The credit for the initial legwork, however, goes to Australia’s Trade Minister Steven Ciobo, BlueScope Steel and Rio Tinto.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/G20.jpg" alt="News" width="517" height="291" /></p> <p>The duo discussed with President Trump and his officials...
<p>Aluminium Bahrain B.S.C. (Alba), home-base of the Line 6 Expansion Project, is pleased to announce that it has successfully closed the first tranche of c. US$ 700 million from Export Credit Agency (ECA) covered facilities to finance the Company’s Power Station 5 and Power Distribution System.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/AlbaSmelter.jpg" alt="news" width="448" height="300" /></p> <p>The facilities are made-up of: US$ 310.4 million SERV Guaranteed Export Credit with an interest margin of 90 basis point per annum over the London Interbank Offered Rate (LIBOR), EUR 314.3 million SERV Guaranteed Export Credit with an interest margin of 65 basis point per annum over the...
<p>The uptrend in LME aluminium met with a drop last week as the metal closed at US$1,920 per tonne on Friday, July 7, down 0.28 per cent from its previous close of US$1,925.50 per tonne on Thursday, July 6. US dollar index though posted weekly gains, remains under pressure. So, Shanghai Metals Market thinks that LME aluminium will draw support from it and hover at highs of US$1,920-1,940 per tonne on Monday, July 10.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/LMEAluJuly10.jpg" alt="News" width="517" height="246" /></p> <p>As on July 7, LME official cash buyer aluminium price stands at US$1,919 per tonne, cash seller & settlement aluminium price is US$1,920 per tonne, 3M buyer price is US$1,931 per tonne, 3M...
<p>July has seen LME aluminium prices rising above US$1,900 per tonne breaking the downtrend that was conspicuous in May. But, the one-week journey from US$1,908 per tonne to US$1,925.50 per tonne was not free of jitters. The light metal contract touched an intra-week low of US$1,903 per tonne on July 4 and again rebounded to around US$1,915 per tonne. The climax was reached on Thursday, July 6, when LME aluminium shot up to US$1,948 per tonne- the highest since May 30.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/aluminium-stock.jpg" alt="News" width="517" height="387" /></p> <p>The price surge was nothing but a pent-up reaction burst to the news of aluminium capacity cuts in the top producing country China. However,...
<p>Due to the major expansion of existing smelters and commissioning of new projects that primary aluminium production is increasing at a faster rate in the GCC countries. Qatar, a peninsular Arab country whose terrain comprises arid desert and a long Persian (Arab) Gulf shoreline of beaches and dunes is growing its aluminium capacity to be a net exporter of aluminium and aluminium products.</p> <p>Qatalum or Qatar Aluminium is the sole aluminium producer in the country that exports its aluminium products globally. Qatalum is a JV between Qatar Petroleum and Hydro Aluminium of Norway and produces about 640,000 tons of high-quality aluminium products per annum.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/QATAR.jpg"...
<p>Rio Tinto Aluminium has selected the ECA Group to develop unmanned logistic vehicles for heavy load transportation inside the aluminium smelter. Unmanned logistic vehicles will be mainly used for the transportation of anodes.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/eca_group_rio_tinto_unmanned_car.png" alt="news" width="448" height="253" /></p> <p>The ECA Group is a renowned for its expertise in robotics, automated systems, simulation and industrial process worldwide. The company will develop the heavy load autonomous vehicle called MAX 2.0. In addition to this, the company will also develop the supervision software which will manage the fleet of autonomous vehicles inside...
<p>LME aluminium surged 1.6 per cent on Thursday, July 6, to climb to more than five-week highs at US$1,944 per tonne- the highest since May 30, as worries about supply from the top producer China escalated. The light metal later retreated to US$1,925.50 per tonne, still up by 0.65 per cent from its previous close of US$1,913 per tonne on Wednesday, July 5. The confidence was back in the market after investors started refocussing on robust metal supply elsewhere.</p> <p>"We are concerned that the buy-side may be too optimistic on the prospects for aluminium and alumina markets to tighten from winter-output restrictions in China from the fourth quarter," noted UBS. "We think the shuts will be enforced but there is capacity elsewhere & inventory to buffer the impact," it said.</p>...
<p>According to a document recently issued by the provincial government, Henan, one of the five major aluminium producing regions in China, will cut down its aluminium capacity that has been out of operations for more than one year before the end of 2018.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/hinh%204%20ingot.jpg" alt="" width="517" height="321" /></p> <p>The province will be reducing a total aluminium capacity of more than 500,000 tonnes at three aluminium smelters. The electrolytic cells and transformers will be dismantled before the end of 2018, reported by an SMM.</p> <p>The aluminium production in the province is estimated to be within 3 million...
<p>The International Fair Trade Alliance (IFTA) announced today July 6 that it opposes tariffs or other restrictions on the import of primary aluminium into the United States. Instead, IFTA calls on the U.S. Administration to curb directly illegal imports of Chinese semi-fabricated aluminium products.</p> <p>The United States Department of Commerce is currently conducting a Section 232 Investigation into whether aluminium imports affect U.S. national security.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/aluminium%20logjam.jpg" alt="News" width="517" height="226" /></p> <p>IFTA is a non-profit organization that brings together aluminium extrusion manufacturers and suppliers from across the globe to promote free and...
<p>Aluminium Bahrain B.S.C (Alba)’s Chief Executive Officer, Tim Murray paid an inspection visit to one of the Bahraini major equipment contracting companies for Line 6 Expansion Project - Ahmed Mansoor Al Aali (AMA Group) on Tuesday, 04 July 2017.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/Alba%20CEO%20Visits%20Major%20Supplier%20of%20Line%206%20Expansion%20Project%201.jpg" alt="news" width="448" height="300" /></p> <p>AMA Group is manufacturing 427 pot shells (each weighing 44 metric tonnes) for Alba’s Line 6 Expansion Project, the first of which will be delivered to the Alba site starting 1st October 2017. In addition, AMA Group along with its partner ALUCOR Ltd. (Dubai) are...
<p>China Aluminum International Trading Co. (Chalco Trading) has hiked aluminium prices it offered in major markets for two consecutive days. A00 Aluminium ingot is on a bullish trend in the Chinese markets.</p> <p>Unit: yuan/tonne</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/chalco.png" alt="News" width="431" height="202" /> </p> <p>The prices for A00 Aluminium Ingot for three major markets in China (North, North-East and South-West) have registered a rise on July 6. </p> <p>On July 6 2017, the average prices for A00 Aluminium Ingot for North China market have increased from RMB <strong>13,950/</strong>t on July 5 to RMB<strong>13,960/t</strong>. For the Northeast China market, the...
<p>LME aluminium seems to have lost its bullish momentum after facing a strong barrier at US$1,933 per tonne. The light metal contract though settled higher at US$1,913 per tonne on Wednesday, July 6, up from its previous close of US$1,903.50 per tonne on Tuesday, July 5, is expected to retest a support at US$1,918 per tonne. Reuters’ technical analysis says- if LME aluminium breaks below this support, it could cause a loss to the next support at US$1,903 per tonne.</p> <p>Shanghai Metals Market forecasts that LME aluminium will range at US$1,915-1,935 per tonne on Thursday, July 6.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/LMEAluJuly6.jpg" alt="News" width="517" height="245" /></p> <p>As on July 5, LME...
<p>According to the latest figures from industry association Abal, Brazil witnessed an increase in the production of primary aluminium in May.</p> <p>May was the 13th consecutive month that has registered an increase in aluminium production. The country produced 68,300 tonnes of aluminium in May, up 1.6 per cent year-on-year</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/64071.jpg" alt="news" width="448" height="300" /></p> <p>Brazil's primary aluminium production reached 331,900 tonnes during January-May, up 2.6 per cent year-on-year.</p> <p>The country’s primary aluminium production reached 792,700 tonnes in 2016. The aluminium production grew 2.7 per cent...
<p>China’s primary aluminium production increased year-on-year in June. The country’s aluminium capacity in operation also climbed last month, cited by Shanghai Metals Market.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/primary-aluminium-wbms-metal-news-global-metal-sector-global_77201.jpg" alt="news" width="448" height="300" /></p> <p>China produced 3.09 million tonnes of aluminium in June this year, up 20.2 per cent year-on-year. The country’s production increased 21.7 per cent year-on-year to 18.3 million tonnes in the first half of 2017.</p> <p>Aluminium capacity in operation totalled 37.61 million tonnes year-on-year-basis in June. The capacity increased 6.33 million...
<p>LME aluminium after staging a reversal last Friday, June 30, has been rising at a fairly steady pace, but the uptrend was interrupted by the metal’s drop. After failing to break a resistance at US$1,933 per tonne LME aluminium tested a support at US$1,908 per tonne and bounced back to US$1,903.50 per tonne on Tuesday, July 4, down 0.73 per cent from its previous close of US$1,917.50 per tonne.</p> <p>Shanghai Metals Market forecasts that LME aluminium will challenge US$1,930 per tonne and range at US$1,915-1,935 per tonne on Wednesday, July 5.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/LMEAluJuly5.jpg" alt="News" width="517" height="246" /></p> <p>As on July 4, LME official cash buyer aluminium price stands...
<p>Henan, one of the five major aluminium producing regions in China, is exempted from the inspection of coal-fired captive power plants at aluminium smelters by the Chinese Authorities, reported by an SMM.</p> <p>Liu Libin, Vice General of Henan Nonferrous Metals Association said that all operating aluminium capacities in the province are in compliance with national standards, hence, Henan is excluded from the list of provinces that are to be scanned.</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>The Chinese Authorities are set to inspect Coal-fired captive power plants at aluminium smelters in six major...
