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>LME aluminium after falling for six days at a stretch settled slightly higher at US$1,886.50 per tonne after night trading on Wednesday, June 14, from the earlier close of US$1,877 per tonne. However, the ‘spike’ does seem to be extending into a ‘rise’ since fundamentals still look grim. Price trend suggests that LME aluminium will continue to hover at US$1,880-1,900 per tonne range in the short term.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/LMEAluJune15.png" alt="News" width="517" height="277" /></p> <p>As on June 14, LME official cash buyer aluminium price stands at US$1,886 per tonne, cash seller & settlement aluminium price is US$1,886.50 per tonne, 3M buyer price is US$1,895 per...
<p>On Monday June 12, President Donald Trump announced at a Cabinet meeting that the United States will soon implement new legislation to control the dumping of foreign steel and aluminium in the country.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/DTrump.jpg" alt="News" width="517" height="226" /></p> <p>"We'll be having some major legislation very soon on the dumping of steel in our country, which is absolutely killing our workers," Trump said and he made a similar comment on aluminium import too.</p> <p>Though the restrictive measures on imports were mainly targeted at subsidized Chinese import, it could also affect other countries like Japan and South Korea that export such products to the U.S. market.</p> <p>Any...
<p>The downtrend in LME aluminium is continuing. The light metal breached last week’s low of US$1,887 per tonne to close at US$1,877 per tonne after night trading on Tuesday, June 13. A broker at Marex Spectron said that the next support level for LME aluminium was at US$1,862.50 per tonne.</p> <p>"Marex data analysis shows yesterday's supply was the heaviest since the May 8 which was on that move down to that low," he said. It is likely that aluminium prices on LME will drop further in the near term.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/LMEAluJune14.png" alt="News" width="517" height="275" /></p> <p>As on June 13, LME official cash buyer aluminium price stands at US$1,876 per tonne, cash seller &...
<p>Aluminium prices in India futures market gained 0.25 per cent to INR 121.55 per kg on Tuesday, June 13, as fresh positions built up on speculations driven by a sudden surge in demand in the spot market.</p> <p>Aluminium for delivery in June contracts was up by 0.25 per cent to INR 121.55 kg at the Multi Commodity Exchange in a business turnover of 210 lots.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/MCXalu.jpg" alt="News" width="517" height="343" /></p> <p>MCX aluminium for delivery in July edged higher by 0.12 per cent to INR 122.05 per kg in a total business turnover of 26 lots.</p> <p></p> <p>Commenting on the reason behind aluminium price increase at futures trade, analysts opined that fresh positions were...
<p>As reported to Reuters by Hydro, Qatar Aluminium is now exporting metals via ports in Kuwait and Oman, as well as a Qatari container port.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/qatalum3.jpg" alt="News" width="517" height="226" /></p> <p>Qatar's Qatalum aluminium plant was facing outbound logistical challenges following a diplomatic row with neighbours in the Middle-East when Saudi Arabia, UAE, Bahrain and Egypt had severed diplomatic ties with Qatar and blocked shipments through their ports. Hydro, one of the joint owners of Qatalum, said last week that alternative shipment routes were established for shipping their metal but did not divulge further details.</p> <p>"There's a recently completed...
<p>Baise Mining Group has started production of its coal-power-aluminium integrated high-purity aluminium project. Coal-Power-Aluminium Integrated Project would produce aluminium with Al content as high as over 99.99 per cent, according to an SMM report. The project has a production capacity of <span>10,000 tonnes per annum.</span></p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/primary%20al_ingots.jpg" alt="news" width="448" height="300" /></p> <p>In 2016, the company said it had begun construction on its 10,000-tpy precision aluminium processing project in Guangxi province. The project being built at a total investment of 77 million yuan, with estimated construction period spanning at 18...
<p>The prices of A00 aluminium ingots in China major consumer markets are trending low today on June 13. A00 Aluminium Ingot (North China) price ranges at RMB 13,590-13,610 per tonne with the average price standing at RMB 13,600 per tonne, down 0.22 per cent from its previous price. The price of A00 Aluminium Ingot (Northeast China) has dropped in the range of RMB 13,580-13,600 per tonne. The average price currently stands at RMB 13,590 per tonne, down 0.22 per cent from its earlier price.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/SMMA00prices.png" alt="News" width="517" height="176" /></p> <p>The price of A00 Aluminium Ingot (East China)-Zhejiang is ranging at RMB 13,550 per tonne, down 0.37 per cent from its...
<p>The Aluminum Association, in cooperation with the Aluminium Association of Canada, reported that primary aluminium production in North America (U.S. and Canada) was at an annual rate of 3,950,536 tonnes during May 2017, down 0.4% from 3,965,567 tonnes in April 2017.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/NorthAm%20primary%20prod.png" alt="News" width="371" height="259" /></p> <p> </p> <p>The production rate in the U.S. was up 2.9 % MoM, while the Canadian rate was off 1.1 %. On a year on year comparison, the North American annual rate was slightly down from May 2016. </p> <p></p> <p>Actual production through the first five months of 2017 totalled 1,640,433 tonnes, down 3.8 % YoY. Despite the drop in...
<p>Indian National Trade Union Congress (INTUC) yesterday announced that they have asked for a judicial inquiry into Nalco’s all overseas investment. INTUC’s State president Ramachandra Khuntia said that they have demanded for investigation as Nalco’s profit is reducing due to wrong investment decision.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/NALCO-Aluminium.JPG" alt="news" width="448" height="293" /></p> <p>Ramachandra Khuntia said the company which had made a profit of INR 2300 crore at one time, netted a profit of INR 669 crore in 2016-17 because of the wrong policy of the Central Government. In 2015-2016, the company’s profit stood at INR 787...
<p>As anticipated by market watchers, LME aluminium fell below US$1,900 per tonne level unable to draw support from a weak US dollar index and strengthening crude oil prices. The light metal traded globally closed at US$1,888 per tonne on Monday, June 12, down 0.7 per cent from its previous close of US$1,901.50 per tonne on June 9.</p> <p>Reuters in its latest aluminium price analysis observed that the metal is still "the star of the London Metal Exchange (LME) base metals complex, up by over 12 percent on the start of the year." It has been taking a different set of cues from China, pinning its hopes on Beijing’s supply-side reforms; but the recent price trend suggests that LME aluminium will continue to struggle around US$1,900 per tonne, at least, in the short term.</p> <p...
<p>Bosnian aluminium smelter Aluminij today announced that its unit AL Trade has secured two years license from FERK, the energy regulator of Bosnia’s Federation. FERK has granted a license to AL Trade to supply electricity.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/Aluminij.jpg" alt="news" width="448" height="300" /></p> <p>"Electricity is a key element and the most expensive item in the production of aluminium; thus by establishing AL Trade Aluminij moves towards achieving energy independence", according to the company.</p> <p>AL Trade will supply electricity to buyers and trade on the domestic market of Bosnia and Herzegovina. In 2016, Aluminij announced that its...
<p>Aluminium Bahrain B.S.C. (Alba), the Bahrain-based international aluminium smelter, announced the promotion of Abdul Rasool Ahmed Abdul Rasool as the Director of Casthouse.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/Alba_Bahrain_Casthouse.jpg" alt="News" width="517" height="226" /></p> <p>A. Rasool joined Alba in 1985 as an Operator and was promoted to Supervisor Casthouse in 1997. He was appointed as the Casthouse Manager in 2006 thereafter Senior Casthouse Manager in 2013.</p> <p>Speaking on this occasion, Alba’s Chief Executive Officer Tim Murray said:</p> <p>“Casthouse is the operational area that interfaces directly with our customers and A. Rasool has played a critical role in maximizing Alba's...
<p>LME aluminium just managed to stay on the higher side of US$1,900 per tonne last week. The light metal traded globally closed at US$1,901.50 per tonne on Friday, June 9, marginally down from US$1,902.50 per tonne on June 8. Shanghai Metals Market (SMM) analysis suggests that aluminium prices on LME will decline further this week dropping to US$1,870-1,920 per tonne.</p> <p>Aluminium demand in the overseas market is softening due to cyclical dynamics. This is likely to put a downward pressure on the LME aluminium prices.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/LMEaluJune12.png" alt="News" width="517" height="275" /></p> <p>As on June 9, LME official cash buyer aluminium price stands at US$1,901.50 per tonne,...
<p>Qatalum aluminium plant found an alternative sea routes to export its metal. Hydro’s spokesman said that the customers may face delays in deliveries, reported by Reuters. T<span>he Qatalum JV was working to find alternative shipment routes to enable it to continue to serve its global customers.</span></p> <p>Recently, the Qatalum aluminium plant announced that they are working to solve outbound logistical challenges arising from the uncertain situation in the Middle-East after Saudi Arabia, UAE, Bahrain and Egypt cut off transportation links and severed diplomatic ties with Qatar.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/jelebi%20ali.jpg" alt="news" width="448"...
<p>China, the world’s fastest growing and second largest economy, plays a dominant role in in the global aluminium market. The nation accounts for about a half of global aluminium consumption, and is forecasted to boost this share to 59 per cent by 2025.</p> <p>According to an SMM report, China’s aluminium output rose 21.6 per cent year-on-year to 3.17 million tonnes in May. The production will continue to grow on a yearly basis in June.</p> <p>The country produced 15.21 million tonnes of aluminium during the first five months in 2017. As of June 1, aluminium stocks in domestic five major markets totalled 1.19 million tonnes, up 766,000 tonnes from a year ago. </p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;"...
<p>The prices of A00 aluminium ingots in China major consumer markets are trending higher today on June 9. A00 Aluminium Ingot (North China) price ranges at RMB 13,660-13,680 per tonne with the average price standing at RMB 13,670 per tonne, up 0.15 per cent from its previous price of RMB 13,650 per tonne on Thursday, June 8. The price of A00 Aluminium Ingot (South China) has dropped in the range of RMB 13,680-13,700 per tonne. The average price currently stands at RMB 13,690 per tonne, down -15 per cent from its earlier price.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/A00.jpg" alt="News" width="517" height="181" /></p> <p>The price of A00 Aluminium Ingot (East China)-Zhejiang is ranging between RMB 13,640-13,650...
<p>LME aluminium is nearing a strong resistance at the five-day moving average. The light metal traded globally dropped marginally to US$1,902.50 after night trading on Thursday, June 8, from US$1,903.50 per tonne on Wednesday, June 7. </p> <p>Shanghai Metals Market (SMM) suggests that LME aluminium will continue to fluctuate in the range of US$1,895-1,915 per tonne on Friday, June 9.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/LMEalu.jpg" alt="News" width="517" height="275" /></p> <p>As on June 8, LME official cash buyer price of aluminium stands at US$1,902 per tonne, cash seller & settlement price is US$1,902.50 per tonne, 3M buyer price is US$1,903 per tonne, 3M seller price is US$1,903.50 per tonne,...
<p>Prices of aluminium fluoride and cryolite, the two supplementary raw materials used in aluminium smelting, registered their first fall since September 2016 yesterday, on June 7. Both the materials show cyclical price trends. So, as the off-season arrives in July, their demand automatically softens and the prices drop.</p> <p>Aluminium fluoride prices in China major markets declined from RMB 9,200-9,400 per tonne in May to RMB 9,000-9,200 per tonne in June. The average aluminium fluoride price stands at RMB 9,100 per tonne as on June 8. </p> <p><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/Fluride%20chart.jpeg" alt="News" width="517" height="226" />Cryolite prices in China market also dropped from RMB 6,300-6,500 per tonne in May to RMB...
