Aluminium prices drift higher as September peak season operations recover amid low inventory
Futures: The most-traded SHFE aluminium contract opened at RMB 24,400 per tonne in the night session on September 7, reached a high of RMB 24,470 per tonne and a low of RMB 24,335 per tonne, and closed at RMB 24,450 per tonne, up 30 from the previous close, a gain of 0.12 per cent. Prices traded...
Macro disturbances cap upside room, while destocking continues to support aluminium price stabilisation
Futures: The most-traded SHFE aluminium contract opened at RMB 24,240 per tonne in the night session on September 4, with a high of RMB 24,355 per tonne, a low of RMB 24,220 per tonne, and a close of RMB 24,320 per tonne, up 0.12 per cent from the previous close. Futures stabilised and rebounded,...
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Back-to-back lowered alumina spot price in China leads to extended drop in aluminium ingot price
Backed on lowered alumina spot price for the two consecutive days, the A00 aluminium ingot price extended a plunge today by RMB 60 per tonne to RMB 13,690 per tonne, Shanghai Metals Market found. Yesterday, on November 26, the alumina spot price dropped from RMB 3131 per tonne to RMB 3119 per...
Indian aluminium producers cut aluminium ingot prices this week to keep pace with the international price
According to trade sources Nalco, Vedanta and Hindalco have cut prices of their products in accordance with the falling aluminium prices. Hindalco Industries Ltd is also reported to have cut the prices of aluminium products by more than 1%, effective November 21. The basic price of Hindalco’s P1020...
Volatile aluminium prices lead to cautious downstream purchases in east China; Alumina price shrinks
According to Shanghai Metals Market, downstream consumers of primary aluminium remained cautious in making purchases across east-China markets on Thursday, November 22, given the recent volatility in prices. The SHFE 1812 contract inched up in the morning trade while spot discounts in Shanghai...
China’s eastern spot aluminium markets waned as future prices drop; ingot price extends plunge
Shanghai Metals Market research found purchasing enthusiasm among downstream consumers of spot aluminium across east China waned as prices of futures declined in late morning trading. The SHFE 1812 contract declined in late morning trade after it moved in a tight range in earlier trading hours....
Primary aluminium capacity cuts to exceed 2 million tonnes owing to weak ingot prices: SMM
According to a recent update by Shanghai Metals Market, primary aluminium capacity cuts expanded sharply in the second half of 2018 as weak aluminium prices and high operating costs caused an immense loss to the producers. Per the SMM research, production cuts for the year are likely to exceed 2...
Chinese A00 aluminium ingot price records a hike on lowered inventories: SMM
Shanghai Metal Market research found a further drop in social inventories of primary aluminium across eight major consumption areas in China. The stock, including SHFE warrants, came in at 1.438 million tonnes over the weekend ended on Monday, November 19, down some 15,000 tonnes from last...
Active downstream purchases on sluggish spot price lead to weak aluminium and billets inventories in China
Social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, dropped by some 32,000 tonnes from Thursday November 8 to stand at 1.453 million tonnes as of Thursday November 15, Shanghai Metals Market data showed. Downstream buyers stockpiled as spot...
Weak fundamentals weighed down both LME and SHFE; LME closed at US$ 1917 per tonne on November 17
The US dollar held steady against a currency basket while the pound dipped amid uncertainty over whether Prime Minister Theresa May's draft Brexit plan will receive parliamentary approval. LME aluminium continued to trade weakly and closed Thursday’s trading at US$ 1917 per tonne. It regained some...
Vedanta and Hindalco cut prices of aluminium ingots in line with falling LME prices
According to trade sources both Vedanta and Hindalco have cut prices of their products on November 14 and November 15. Vedanta Ltd has cut prices of aluminium ingots by 1% with effect from November 14. The company had cut prices by over 1% last week as well. With this price cut, prices of Vedanta’s...
Spot aluminium premiums expand in Shanghai; ingot prices fall across all China markets
Shanghai Metals Market research found brisk transactions between traders and the approaching delivery date expanded spot aluminium premiums in Shanghai on Wednesday November 14. The SHFE aluminium contract for November delivery pared earlier losses in morning trades. Premiums stood at RMB20-30 per...
Aluminium ingot price in east China records a slight rise on active downstream consumption: SMM
Shanghai Metals Market research found most transactions of spot aluminium in Shanghai were done between discounts of RMB 10 per tonne to premiums of RMB 20 per tonne on Tuesday, November 13, relative to the SHFE 1811 contraction. The SHFE aluminium contract for November delivery traded range-bound...
Report shows a steady rise in aluminium export from North America in 2018; domestic semi-finished orders on the rise
According to the latest report from Aluminum Association, the “Index of Net New Orders of Aluminum Mill Products” for October 2018 increased 8.6 percent over September 2018. Compared to October 2017, total orders rose 8.3 percent YoY. Orders for both flat roll products (sheet, plate, can stock and...
A00 aluminium and alloy ingot prices down across China markets
According to SMM the latest average price of A00 Aluminium Ingot has today dropped to stand at RMB13720 per tonne, down RMB 110 per tonne from RMB 13830 per tonne on November 12. The average price would range between RMB 13700 – 13740 per tonne. A00 aluminium ingot prices are down across all major...
Chinese A00 aluminium ingot price extends plunge over the weekend despite further lowered inventories
According to Shanghai Metals Market, the A00 aluminium ingot price has extended its plunge over the weekend by RMB 30 per tonne on Monday, November 12, to stand at RMB 13830 per tonne. The average prices are expected to range between RMB 13810 per tonne and RMB 13850 per tonne, with spot discount...
China’s total primary aluminium output during Jan-Oct stands low Y-o-Y despite a growth in October production
According to the data shared by Shanghai Metals Market, China’s primary aluminium production for the month of October stood at 3.114 million tonnes, up 3.5 per cent from the same period last year. This grew overall production during January-October to 30.166 million tonnes but still stood lower by...
China’s aluminium ingot supplies to grow in Q4 2018 on weaker demand and slow output cuts
Shanghai Metals Market believes that supplies of aluminium ingot in China may expand in the fourth quarter of 2018 as the demand would likely to remain sluggish. Production, on the other hand, grew month-on-month. In September, China produced 3 million tonnes of primary aluminium which in the next...
A00 aluminium ingot price in China grows against lowered inventories due to fewer arrivals
According to Shanghai Metals Market, social inventories of primary aluminium across eight major consumption areas in China, including SHFE warrants, came down again by 40,000 tonnes from last Thursday, November 1, to 1.485 million tonnes as of today, November 8. SMM believes fewer arrivals to the...
Bauxite prices in China major markets fall; aluminium Ingot prices inch higher
Bauxite prices in China’s major market slid by RMB 10 per tonne on Monday, November 5 after remaining unchanged for a week, Shanghai Metals Market data showed. Bauxite (6.0≤Al/Si＜7.0) Shanxi price is ranging at RMB 560-600 per tonne, Bauxite (4.5≤Al/Si＜5.5) Shanxi is within RMB 470-510 per tonne,...
