Macro rate hike expectations bring periodic pressure, while destocking in China provides solid bottom support
Futures: The most-traded SHFE aluminium contract opened at RMB 24,310 per tonne in the night session on September 10, reached a high of RMB 24,310 per tonne and a low of RMB 24,075 per tonne, and closed at RMB 24,125 per tonne, down RMB 365 per tonne or 1.49 per cent from the previous close....
Aluminium eggshells take on space debris with nearly 65% impact reduction
Researchers at Dalian University of Technology in China have tested a spacecraft protection structure made from water-filled aluminium eggshells, with the design reducing the velocity of an impact projectile by nearly 65 per cent. The research, published in the Journal of Applied Physics , looked...
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LME aluminium benchmark price expands to US$2,677/t; SHFE price contracts by US$41/t
On the previous trading day, LME aluminium opened at US$2,705.5 per tonne, with a high of US$2,737 per tonne and a low of US$2,643 per tonne. It closed at US$2,655 per tonne, down US$50 per tonne, or 1.85 per cent. On Friday, May 31, both LME aluminium cash bid price and LME aluminium official...
SMM A00 aluminium ingot price plunges by RMB470/t today; Australian alumina FOB price loses US$18/t
The Shanghai Metals Market has witnessed a massive slump of RMB 470 per tonne today, closing at RMB 21,240 per tonne, with the average prices hovering between RMB 21,220 per tonne and RMB 21,260 per tonne. The eight main provinces in China have all seen a stark downtrend in aluminium prices, with...
China’s A00 aluminium ingot price surges by RMB640/t following Rio Tinto’s force majeure declaration; Low-carbon aluminium price expands to RMB22721/t
According to the Shanghai Metals Market survey, China's A00 aluminium ingot price has surged by RMB 640 per tonne to clock at RMB 21,710 per tonne. The spot contract price is expected to be traded at a discount price of RMB 170 to RMB 130 per tonne, whereas the average prices may range between RMB...
Rising supply & weak cargo pick-up exerting heavy pressure on China’s domestic aluminium ingot inventory
On May 27, 2024, SMM reported that China's social inventory of aluminium ingots stood at 781,000 tonnes, with 655,000 tonnes available for sale. This marked an increase of 14,000 tonnes from the previous week and a significant year-over-year rise of 160,000 tonnes. Regarding cargo pick-up, only...
SMM A00 aluminium ingot price adds RMB40/t today, down RMB20/t W-o-W; China’s low carbon aluminium price gains RMB109/t
The Shanghai Metals Market has witnessed a rise of RMB 40 per tonne today, closing at RMB 21,070 per tonne, with the average prices hovering between RMB 21,050 per tonne and RMB 21,090 per tonne. On a week-on-week scale, there has been a drop of RMB 20 per tonne from RMB 21,090 per tonne recorded...
Financial obstacles push Russian commodities firms to use Crypto with Chinese counterparts
Russian commodities firms, grappling with the challenges of executing financial transactions with their Chinese counterparts, have turned to a new opportunity for a solution - stablecoins, as reported by Bloomberg. A stablecoin is a cryptocurrency that maintains a fixed value by being linked to a...
Solex Energy's strategic leap to enhance solar module production encourages Chinese intervention
Solex Energy, a prominent player in India's solar energy sector, has embarked on a transformative journey to significantly boost its manufacturing capacity. The Surat-based company has forged strategic partnerships with Chinese entities GMEE SC Solar and ATW to procure state-of-the-art...
SHFE aluminium price marks 1% spike today; LME market remains closed for the UK Spring Bank Holiday
Today, on May 28, the Shanghai Futures Exchange (SHFE) aluminium benchmark price has inched up by US$29 per tonne or 1 per cent to anchor at US$2,923 per tonne. The most-traded SHFE 2407 aluminium contract opened at RMB 20,925 per tonne, reached a high of RMB 21,215 per tonne, a low of RMB 20,925...
Tesla urges suppliers to make car parts out of China and Taiwan amidst escalating tensions
In the rapidly evolving automotive industry, securing robust and reliable supply chains has become paramount, especially amidst rising geopolitical tensions. Tesla, the pioneer in electric vehicle (EV) innovation, is proactively addressing these concerns by reshaping its supply chain strategies. As...
China’s A00 aluminium ingot price ascends to RMB21030/t; Alumina price gains RMB30/t
On Tuesday, May 28, China’s A00 aluminium ingot price gained RMB 150 per tonne to settle at RMB 21,030 per tonne. The spot contract price is expected to be traded at a discount of RMB 140 to RMB 100 per tonne. The average prices may orbit between RMB 21,010 per tonne and RMB 21,050 per tonne....
China’s primary aluminium imports surge 119% Y-o-Y in April 2024, mainly sourced from Russia
According to China customs data, the country’s domestic primary aluminium imports amounted to 218,500 tonnes in April 2024, down by 12.38 per cent M-o-M but up by 119 per cent Y-o-Y. Net imports were 206,300 tonnes – 115.2 per cent more than a year ago. From January to April 2024, China imported...
Fostering economic ties: RUSAL participated at the 8th China-Russia Expo
From May 17 to 21, the 8 th China-Russia Expo was successfully held at the Harbin International Congress and Exhibition Centre. It is included in the list of major events organised in China in connection with the 75 th anniversary of establishing diplomatic relations between the two countries....
China’s average alumina spot price jumps by RMB33/t over the weekend to stand above a 2-year high
According to the Shanghai Metals Market survey, China’s average alumina spot price has jumped by RMB 33 per tonne over the weekend to stand at RMB 3,878 per tonne as of May 27. This latest hike has marked China’s domestic alumina price above a 2-year high. In Lianyungang and Bayuquan, alumina spot...
LME aluminium benchmark price expands to US$2599/t; SHFE price gains US$14/t
The previous trading day, LME aluminium opened at US$2,608.5 per tonne, reached a high of US$2,675 per tonne and a low of US$2,603 per tonne, and closed at US$2,658 per tonne, up US$36.5 per tonne or 1.39 per cent. On Friday, May 24, the LME aluminium cash bid price and LME aluminium official...
US tariff strategy on Chinese imports may inspire similar measures worldwide, CareEdge reports
In a bold move to protect domestic industries, the United States recently imposed substantial tariffs on a wide range of imports from China. This decisive action has sent ripples through the global trade landscape, prompting other nations to consider similar protective measures. CareEdge Ratings, a...
Western allies demand China tackle solar panel overcapacity to avert trade war
China's rapid expansion in solar panel manufacturing has been a catalyst for the global clean-energy transition. On one hand, the nation's industrial prowess has dramatically lowered the costs of solar panels, making renewable energy more accessible worldwide. This positive aspect of China's...
ABB's Xiamen manufacturing site sets the benchmark for decarbonisation with smart technology integration
In a landmark move towards sustainable manufacturing, ABB's key production facility in Xiamen, China, emerged as a decarbonisation paragon. This site, which is renowned for producing low—and medium-voltage switchgear and circuit breakers on state-of-the-art production lines, has significantly...
Dong Jianxiong and Luciano Alves visit Baotou Aluminum to discuss future collaborations
Dong Jianxiong, the Vice General Manager of Chinalco Group and Chairman of Chinalco Shares, and Luciano Alves, CEO of Companhia Brasileira de Aluminio (CBA), visited Baotou Aluminum on May 8. During the visit, Alves and his delegation toured several key production sites, including the intelligent...
