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...
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<p>After a four-day falling streak, LME aluminium regained some lost strength and edged higher to US$1,861.50 per tonne on Tuesday, June 27, up from the monthly low of US$1,855 per tonne on Monday, June 26. Oil prices surged two per cent and US dollar index dropped sharply lending some support to the light metal traded globally. </p> <p>Shanghai Metals Market observes that LME aluminium may inch further up but will continue to struggle between the 10-day and 20-day moving averages. Aluminium prices on the bourse will range US$1,877-US$1,891 per tonne on Wednesday, June 28.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/LMEAluJune28.png" alt="News" width="517" height="279" /></p> <p>As on June 27, LME official cash...
<p>According to a latest Reuters update, Japan's Q3 aluminium premium has dropped to $118-119/t. July –September premiums have registered a drop first time in 3 quarters. Producers have initially proposed $123-128/t. Now, with the drop in premium, Japanese aluminium buyers will pay up to 8% less in July to September quarter. The news came from five sources directly involved in quarterly pricing analysis.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/aluminum_ingots_550.jpg" alt="News" width="517" height="226" /></p> <p>The latest drop in quarterly premiums follows two quarters of rising premiums, up 35% in Q2 and up 27% in Q1.</p> <p>"We have settled the deals at $118 and $119 a tonne with all of the...
<p>Vedanta Resources, the world’s leading diversified natural resources company with aluminium operations in India, said that its big dream for the country has only just begun. With a market capitalisation of US$14 billion, the group is setting out to invest US$6-7 billion in expanding its overall capacity by 2021.</p> <p>Expressing optimism about India’s future and the government’s thrust on natural resources, Vedanta Resources chairman Anil Agarwal said, "Our dream has just begun. Faring very well financially during the last fiscal, we are looking for at least 60 per cent capacity addition in our businesses in three to four years."</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/vedanta.jpg" alt="News"...
<p>The prices of A00 Aluminium Ingot fell across major China markets on Tuesday, June 27, following the slump in LME aluminium prices. Average price drop was recorded at around 0.7 per cent. The highest average price stood at RMB 13,725 per tonne in South China Market.</p> <p>For the revised price details, please see the below table:</p> <p>Unit: RMB per tonne</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/A00June27.png" alt="News" width="517" height="258" /></p> <p>The average price of A00 Aluminium Ingot in North China market has plunged from RMB 13,710 per tonne on June 26 2017 to RMB 13,625 per tonne on June 27. A00 Aluminium Ingot price in South China market has dropped from RMB 13,830 per tonne on June 26 to RMB...
<p>LME aluminium is continuing its slide under negative market fundamentals. Crude oil prices are falling globally. Unable to draw support from the key commodity factor, the light metal dived to US$1,855 per tonne after night trading on Monday, June 26, down from US$1,868 per tonne last Friday, June 23. Shanghai Metals Market (SMM) forecasts that LME aluminium will range at the lows of US$1,855-1,873 per tonne on Tuesday, June 27.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/LMEAluJune27.png" alt="News" width="517" height="276" /></p> <p>As on June 26, LME official cash buyer aluminium price stands at US$1,854 per tonne, cash seller & settlement aluminium price is US$1,855 per tonne, 3M buyer price is US$1,875 per...
<p>Oleg Mukhamedshin, deputy chief executive of Rusal has said to media that Rusal, the world’s second-largest aluminium producer, will stick to its target of converting all of its electricity sources to clean energy or hydropower by 2020. It is noteworthy that President Donald Trump early this month announced the U.S.’s withdrawal from the Paris agreement on climate change mitigation. This was a part of Trump’s “America First” policy, but the country remained open to negotiate for “a better deal.”</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/rusal%20hydropower.jpg" alt="News" width="517" height="226" /></p> <p>The Russian firm is also considering more investment in the...
<p>Major Indian aluminium producers National Aluminium Company Limited (Nalco), Hindalco, and Vedanta Aluminium have come forward to jointly protest against the massive power duty hike in Odisha, reported global news agencies Platts and Aluminium Insider. In a petition to the Government of Odisha the companies sought revocation of the hike, which they claim would be detrimental to their aluminium smelting operations in the state as production costs spiral up.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/Odishapower.jpg" alt="News" width="517" height="337" /></p> <p>In more than past twelve months, Odisha’s power duty has risen twice, first time by fifty per cent to INR 0.30 per kilo watt, and then in the...
<p>LME aluminium has been largely range bound over the last seven days. The light metal which showed a mild uptrend on Thursday (June 22), last week, settled at US$1,868 per tonne after night trading on Friday, June 23. Shanghai Metals Market (SMM) observes that LME aluminium will keep swinging widely at the lows. The aluminium prices will range between US$1,862-1,877 per tonne on Monday, June 26.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/LMEAluJune26.png" alt="News" width="517" height="277" /></p> <p>As on June 23, LME official cash buyer aluminium price stands at US$1,867 per tonne, cash seller & settlement aluminium price is US$1,868 per tonne, 3M buyer price is US$1,875 per tonne, 3M seller price is US$1,875...
<p>The China Non-Ferrous Metals Industry Association (CNIA) has recently released data covering China’s aluminium industry chain for H1 2017 as well as forecast for aluminium production and consumption by 2020.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/Pani%20per%20sito.JPG" alt="news" width="448" height="300" /></p> <p>West China’s 11 provinces produced 9.21 million tonnes of primary aluminium in H1 2017. The total productions are of nearly 60 per cent of national total. The Shandong province was the top producer of primary aluminium in H1 2017. The Shandong province‘s production was up 12.1 per cent year-on-year to 3.94 million tonnes, over 25 per cent of national...
<p>LME aluminium is showing mild uptrend. The light metal upon failing to break a support zone of US$1,862.50-US$1,871 per tonne, closed at US$1,872 per tonne on Thursday, June 22, marginally up by 0.34 per cent from its previous close of US$1,865.50 per tonne.</p> <p>Reuters’ technical analysis suggests that LME aluminium may again test a support at US$1,862.50 per tonne. If it succeeds to hold ground at the current level, the rebound will be extended to US$1,885 per tonne. According to Shanghai Metals Market forecast, aluminium prices on the global bourse will range at US$1,860-US$1,880 per tonne on Friday, June 23.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/LMEAluJune23.png" alt="News" width="517"...
<p>The prices for A00 Aluminium Ingot for all provinces in the China markets (North, South, North-East and South-West) have plunged continuously in last two days after the last gain on June 21 2017.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/A00INGOT.png" alt="News" width="754" height="317" /></p> <p>Currently, among the domestic markets, the prices for A00 Aluminium Ingot for North China market have plunged from RMB 13,740/t on June 22 2017 to RMB <strong>13,690/t</strong> on June 23 2017. A00 Aluminium Ingot at South China market plunged from RMB 13,815/t on June 22 to <strong>RMB </strong><strong>13,760/t</strong> on June 23. </p> <p>The price in East China market (Zhejiang) dropped from RMB 13,700/t on June...
<p>US Department of Commerce held a public hearing on June 22 on the Section 232 Investigation into the impact of aluminium imports on US national security. The aluminium industry from Europe, USA and Canada has come together to testify at the Section 232 hearing.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/heidi.jpg" alt="News" width="480" height="276" /></p> <p style="text-align: left;">Aluminum Association President Heidi Brock testified along with 11 of the member companies representing the US aluminium industry. The association is advocated for a few key principles around the Section 232 investigation:</p> <p style="padding-left: 30px;">• Aluminum production and products support U.S. national security and...
<p>According to a news report from Bloomberg, China Hongqiao Group, the biggest aluminium producer in China is curtailing outdated capacity on the back of government’s strict measures against illegal production. The company, a subsidiary of Shandong Weiqiao Pioneering Group Co, however, has not divulged any detail regarding the scale of curtailment or the time or date of such an action. Unnamed sources said that Weiqiao’s aluminium business started cutting 250,000 metric tons of annual capacity from Tuesday, June 20.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/hongqiao.jpg" alt="News" width="517" height="226" /></p> <p>China has started taking strict measures this year to cut capacity to reduce excess...
<p>Prebaked anode price in East China market edged higher by 2.09 per cent as supply remained tight and demand grew from aluminium smelters restocking in advance. As on Thursday, June 22, prebaked anode price ranged at RMB 3,730-4,080 per tonne; the average price stood at RMB 3,905 per tonne, up by 80 RMB from its previous price of RMB 3,825 per tonne on June 21.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/PrebakedanodeJune22.jpg" alt="News" width="517" height="183" /></p> <p>The average prices of prebaked anode in northwest, southwest, and central China markets remain unchanged at RMB 3,900 per tonne, RMB 3,500 per tonne, and RMB 3,550 per tonne respectively.</p> <p>BAIINFO China in their latest aluminium weekly...
<p>LME aluminium fell from US$1,889 per tonne to US$1,865.50 per tonne after night trading on Wednesday, June 21 as aluminium stocks returned to growth. Unable to hold ground, the light metal shed 1.2 per cent of its brief gain. Shanghai Metals Market forecasts that LME aluminium will fall further to US$1,862-1,878 per tonne on Thursday, June 22, as supply remains strong.</p> <p>However, Reuters’ technical analysis suggests that aluminium prices on LME may bounce to US$1,885 per tonne in the short term as the contract failed to break a support zone of US$1,862.50-US$1,871 per tonne. A further drop from the current level is likely to be limited to US$1,862.50 per tonne. </p> <p style="text-align: center;"><img style="vertical-align: middle;"...
<p>On 22 June, the US Department of Commerce will hold a hearing on the Section 232 investigation on the impact of aluminium imports on US national security. As a prequel to that the European, American and Canadian aluminium associations published a joint statement.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/aluminum%20overcapacity.jpg" alt="News" width="517" height="226" /></p> <p>The Aluminum Association (AA), the Aluminium Association of Canada (AAC) and European Aluminium represent all major aluminium producers, fabricators and recyclers in the US, Canada and Europe which employs over 500,000direct jobs and more than 1.5 million indirect jobs.</p> <p>The three organizations together have drawn attention to...
<p>Primary aluminium ingot prices edged higher across major markets in China. As on Wednesday, June 21, A00 aluminium ingot price in North China ranges between RMB 13,770-13,790 per tonne; average price stands at RMB 13,780 per tonne, up 0.58 per cent from its previous price of RMB 13,700 per tonne.</p> <p>The price of A00 aluminium ingot (South China) is ranging between RMB 13,850-13,880 per tonne. The average price is the highest at RMB 13,865 per tonne, up 0.25 per cent from its previous price of RMB 13,830 per tonne.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/SMMAluJune21.png" alt="News" width="517" height="179" /></p> <p>A00 aluminium ingot price in East China- Zhejiang market stands at RMB 13,720.00 - 13,770...
<p>LME aluminium after lingering at the same level (US$1,861 per tonne) for two consecutive days jumped to US$1,889 per tonne on Tuesday, June 20. The 1.5 per cent rise from the recent low of US$1,861 per tonne marks a comeback for the light metal which has been trending downward for over a week now.</p> <p>However, market watchers and traders do not seem to be too overwhelmed with the aluminium price rise since negative factors are still simmering. Shanghai Metals Market survey reveals aluminium stocks did not fall as per expectation even during the traditional peak-demand season this year owing to growing supply. So, the downtrend in LME aluminium (and Shanghai aluminium too) will likely continue, at least over short term. Further, the contract is predicted to face resistance at the...
