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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“The aluminium industry in 2024 is expected to be shaped by decarbonisation efforts, with China and the Gulf Cooperation Council (GCC) region being significant players in the global market”, Dr Matthias Irle, Executive Vice President - Business Unit Metals at EMG Automation GmbH.
Dr Matthias Irle is a highly accomplished Electrical Engineer specialising in Automation Engineering. He holds a Dipl. Ing. Elektrotechnik from Universität-Gesamthochschule Siegen, Germany, and a Doctorate in Engineering. With over two decades at EMG Automation GmbH, he has held key positions...
Guangtou Beihai Aluminum Phase 1 Project to produce 2 million tonnes of alumina
A significant groundbreaking ceremony marked the commencement of the annual production of 2 million tonnes of alumina and the establishment of the red mud transportation and storage facilities for the Guangxi Guangtou Beihai Green Ecological Aluminum Phase I Project. This project is of paramount...
Chinese economic boost propels LME base metals prices to move upwards
The London Metal Exchange (LME) witnessed significant price surges across base metals following optimistic macroeconomic reports from China, with all metals marking gains by Wednesday, 3 March. Three-month aluminium futures showed a modest uptick of 2 per cent to reach $2,429 per tonne (t), while...
China’s aluminium scrap imports in the first two months of 2024 see an annual increase of 19%
According to China customs data, China's total aluminium scrap imports from January to February 2024 amounted to 289,000 tonnes, reflecting an annual hike of 19.2 per cent. In individual months, the imports stood at 171,000 tonnes and 118,000 tonnes, respectively, experiencing a significant rise of...
China’s A00 aluminium ingot price grows to RMB19,750/t; Low-carbon aluminium price gains RMB171/t
On Wednesday, April 3, China’s A00 aluminium ingot price has gained RMB 170 per tonne to settle at RMB 19,750 per tonne, with the spot contract price expected to be traded at a discount price of RMB 110 per tonne to RMB 70 per tonne. The average prices are expected to range between RMB 110 per...
LME benchmark aluminium price increases by 2.31% over the Good Friday weekend; SHFE aluminium price gains US$21/t
LME aluminium opened at US$2,342 per tonne in the previous trading day, with its high and low at US$2,387.50 per tonne and US$2,332 per tonne, respectively, before closing at US$2,372 per tonne, up US$35 per tonne or 1.5 per cent. The London Metal Exchange was temporarily out of action for the Good...
Market apprehensions for tight production in Yunnan lead to SHFE price growth for the fourth day
The SHFE aluminium benchmark price has continued to grow on Tuesday, April 2, albeit at a lower rate. According to the data, the price has increased by US$3 per tonne to reach US$2,721 per tonne. Compared to the same period last year, the price is 0.33 per cent higher than US$2,712 per tonne. On a...
SMM A00 aluminium ingot price skyrockets by RMB600/t M-o-M; Alumina price dips by RMB3/t
The Shanghai Metals Market on April 1 showed considerable growth in aluminium prices, with the SMM A00 aluminium ingot price halting at RMB 19,520 per tonne, adding RMB 50 per tonne. The average prices ranged between RMB 19,500 per tonne and RMB 19,540 per tonne. The SMM aluminium price has...
China’s aluminium ingot inventory declines by 5000 tonnes, marking the first drop after CNY holiday
As the traditional peak season has set in, China’s domestic aluminium industry is making buzz with downstream processing enterprises rebounds. The purchasing sentiment is high, leading to a fall in aluminium ingot inventories at the end of March 2024, which is line with previous expectation. On...
Downstream aluminium recap: India launches anti-dumping probe on Chinese aluminium foil imports
The global aluminium downstream sector witnessed a lot of significant incidents this week. To begin with, India recently launched an anti-dumping probe into the import of aluminium foil from China, aiming to protect its domestic aluminium industry. This decision follows complaints lodged by major...
Icra forecasts 10% growth in aluminium and copper demand for FY25
According to a recent statement by the Investment Information and Credit Rating Agency (ICRA), domestic demand for non-ferrous metals like aluminium and copper is expected to grow 10 per cent in FY25. This expectation is based on a consistent trend in realizations and a moderated pressure on input...
SMM predicts export orders to increase for China’s aluminium wire and cables in March’24; January’s export rebounded to a peak
According to China customs data, the total exports of aluminium wire and cables during January-February 2024 amounted to 37,500 tonnes at a value of $114.87 million. The export volume in January was 22,500 tonnes, up by 32.58 per cent month-on-month and 48.61 per cent year-on-year. The export...
China’s A00 aluminium ingot price gains RMB140/t to RMB 19,470/t; Australian alumina FOB price moves up by US$2/t
On Friday, March 29, China's A00 aluminium ingot price increased by RMB 140 per tonne to arrive at RMB 19,470 per tonne. The spot contract price is expected to be traded at a discount price of RMB 130 per tonne and RMB 90 per tonne. The average price may be between RMB 19,450 per tonne and RMB...
China-based Jinfei Kaida plans to invest CNY557 million for its upcoming aluminium alloy plant
Shares of Jinfei Kaida Wheel surged following the Chinese manufacturer's announcement regarding its third capacity expansion plan this year. Jinfei Kaida revealed its intention to invest CNY557 million (USD77 million) in constructing a new plant in Thailand's Thai-Chinese Rayong Industrial Zone....
World alumina production in Feb’24 marks a notable annual growth despite short-term fluctuations, advocating strong fundamentals
According to the International Aluminium Institute, world alumina production in February 2024 recorded a fall of 6.89 per cent month-on-month, primarily attributed to fewer calendar days. In this respect, it should be mentioned that the world alumina output started the year with a downtrend, with...
SMM A00 aluminium ingot price moves RMB60/t upward today, down RMB10/t W-o-W; Alumina price drops by RMB2/t
The Shanghai Metals Market, on March 28, witnessed an overall upward streak, with the SMM A00 aluminium ingot price arriving at RMB 19,330 per tonne, experiencing RMB 60 per tonne growth. On a Week-on-Week scale there has been a slump of RMB 10 per tonne from RMB 19,340 per tonne recorded on March...
LME aluminium benchmark price drops by US$37.5/t; SHFE price moves up by US$4/t
LME aluminium opened at US$2,303 per tonne in the previous trading day, with its high and low at US$2,309.5 per tonne and US$2,276 per tonne, respectively, before closing at US$2,303 per tonne, up US$3 per tonne or 0.13 per cent. On Wednesday, March 27, both LME aluminium cash bid price and LME...
Xinjiang Zhonghe's 2023 financial report: Operating income slumps by 15.52% Y-o-Y
China-based Xinjiang Zhonghe recently released its 2023 financial report. In its 2023 performance report, Xinjiang Zhonghe disclosed that it attained an operating income of RMB 6.535 billion, marking a 15.52 per cent decrease compared to the previous year. The net profit attributable to...
