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02 OCTOBER 2017 AL CIRCLE

SMM aluminium ranks second in base metals price gains in September;  plans for environmental checks are on track

EDITED BY : BEETHIKA BISWAS 1MINS READ

According to an update by Shanghai Metals Market, aluminium followed lead in monthly average price gains among base metals in September. SMM monthly average aluminium price rose RMB 599.07/tonne or 3.84% to RMB 16,194.29/tonne. Currently, China market is closed due to the week-long Chinese National day holiday and there is no latest price update.

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As for environmental checks are concerned, SMM updates that Hebei is expected to launch another round of environmental crackdown from October 1. The process will take about 25 days to complete.    

In the same line, Guizhou prepares environmental protection tax, doubling current sewage charge. The tax amount of air pollutant is RMB2.4 per pollutant equivalent and for water pollutant is RMB 2.8 per pollutant equivalent.

Chengdu is going to carry out ten major measures to prevent and control air pollution during autumn and winter. The emergency plan includes launching condition for emergency alert, emission-reduction ratio, and carrying out production suspension or cut to achieve emergency emission-reduction.

On another update from SMM, China’s manufacturing PMIs in both manufacturing and non-manufacturing industries topped market expectations and crossed August levels. Official manufacturing PMI was 52.4 in September, compared to the projected 51.6 and 51.7 in August.

Tagged with:

Aluminium Price China SMM

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EDITED BY : BEETHIKA BISWAS 1MINS READ

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