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 benchmark aluminium price grows 0.35% after hitting 11-weeks high, up US$135/t M-o-M; SHFE drains 0.92% today
LME aluminium opened at US$2,329 per tonne yesterday, with its high and low at US$2,331 per tonne and US$2,296.5 per tonne, respectively, before closing at US$2,300 per tonne, down US$26.5 per tonne or 1.14 per cent. On March 26, the London Metal Exchange registered considerable escalations in...
China’s A00 aluminium ingot price gains RMB870/t Y-o-Y; Low carbon aluminium price hikes to RMB20,288/t
On Wednesday, March 27, China’s A00 aluminium ingot price slumped by RMB 180 per tonne to settle at RMB 19,270 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. On the other hand, Y-o-Y, a growth of RMB 870 per tonne, was...
China’s aluminium ingot inventories approached 850,000 tonnes last week as per SMM’s prediction
A week ago, as of March 18, China’s domestic social inventories of aluminium ingot stood at 847,000 tonnes, of which the amount for sale was 721,000 tonnes, found the Shanghai Metals Market survey. Over the weekend, inventories grew by 4,000 tonnes and stood 356,000 tonnes higher than the...
No slowdown in sight, China's solar sector is projected to grow at unprecedented rate through 2024
The latest data from 2024 indicates that China's solar industry continues its relentless growth, with capacity expansions surging at a rate 80% higher than at the beginning of the previous year. Following an unprecedented 2023 that surpassed all forecasts, expectations for 2024 have been tempered....
India launches probe into aluminium foil imports from China
In a bid to safeguard the interests of its domestic aluminium industry, India has taken a significant step by initiating an anti-dumping investigation into the import of aluminium foil from China. This move comes in response to complaints filed by key domestic players such as Hindalco Industries,...
SMM A00 aluminium ingot price stands RMB750/t M-o-M higher, up RMB110/t today; Alumina price loses RMB5/t
The Shanghai Metals Market on March 26 showed peak rises in the cost of aluminium, with the SMM A00 aluminium ingot price registering a rate of RMB 19,450 per tonne, gaining RMB 110 per tonne. If the aluminium price on March 19 last week is considered, we can see a stark Week-on-Week augmentation...
LME aluminium prices gain on concerns over sluggish production recovery in Yunnan; SHFE price loses US$9/t
LME aluminium opened at US$2,305 per tonne in the previous trading day, with its high and low at US$2,331 per tonne and US$2,294 per tonne respectively before closing at US$2,326.5 per tonne, up US$17.5 per tonne or 0.76 per cent. Aluminium prices surged to an 11-week high on Monday due to worries...
Qingzhen City launches its much awaited bauxite recycling project
On the afternoon of March 15th, 2024, the inaugural meeting for the Qingzhen City Bauxite Recycling Project (Phase I: 500,000 tonnes Desulfurisation) of Guiyang Industrial and Commercial Assets Management Co., Ltd. took place successfully in the conference room of the project department situated at...
China's rising import of Russian aluminium alters market dynamics
According to the latest statistics, China's imports of Russian aluminium have surged. China's Customs Bureau has reported that Russian imports rose to 277,000t in the first two months of this year. That represents almost 60% of all the metal imported by China in that period. Indonesia and India...
China's aluminium market is gaining strength
The price of primary aluminium in China is slowly adding strength. The spot price rose from RMB18950/t on March 1 to RMB19250/t today. Meanwhile, the main index price was RMB18965/t on March 1, but it closed today at RMB19455/t. These rises come despite Russian metal continuing to enter the market...
China Aluminum Tank witnesses a moderate rise of 11.9% Y-o-Y in total turnover for 2023
China Aluminum Tank announced that for the year ended December 31, 2023, the Group achieved a total turnover of approximately HK$236 million, marking a modest increase of around 11.9 per cent from the same period in 2022. Throughout this reporting period, the Group's net profit reached...
Yunnan aluminium industry is in woes due to the dry season, with nearly 400,000 tonnes of output cut
According to a report on Monday, March 25, the aluminium industry in Yunnan province has encountered a significant hit due to dry weather, resulting in production cuts. China’s Yunnan province is otherwise known for its hydropower generation and supply. Beijing Capital Futures released a report...
China’s A00 aluminium ingot price grows to RMB19,340/t; Low carbon aluminium price gains RMB30/t
On Monday, March 25, China’s A00 aluminium ingot price has grown by RMB 40 per tonne to settle at RMB 19,340 per tonne, with the spot contract price expected to be traded at a discount price of RMB 100 to RMB 60 per tonne. As per the data, the average prices may hover between RMB 19,320 per tonne...
LME aluminium price sheds off US$17/t but still stands 1% W-o-W high; SHFE price grows by US$16/t
LME aluminum opened at US$2,310 per tonne in the previous trading day, with high and low at US$2,312.50 per tonne and US$2,281 per tonne, respectively, before closing at $2,309 per tonne, unchanged from the previous trading day. On Friday, March 22, LME aluminium cash bid price and LME aluminium...
China holds key to green economy growth, advocates for enhanced emissions trading system: IMF Chief
On March 24, 2024, Kristalina Georgieva, the Managing Director of the International Monetary Fund (IMF), suggested that China could experience significantly accelerated growth by implementing a comprehensive set of pro-market reforms compared to maintaining the current status quo. In an address to...
Jan-Feb 2024: Open import window boosts China’s primary aluminium imports by 214.7% Y-o-Y
According to China customs data, China’s domestic primary aluminium imports during the first two months of 2024 amounted to 472,000 tonnes, encountering a year-on-year surge of 214.7 per cent. The primary import sources were Russia, India, Indonesia, China, Malaysia, the United Arab Emirates, and...
SMM A00 aluminium ingot price loses RMB40/t to close the week; Alumina price follows upward trend
The Shanghai Metals Market, on March 22, today has shown mixed price trends with the SMM A00 aluminium ingot price shedding RMB 40 per tonne to officially close at RMB 19,300 per tonne. The eight central provinces in China have all displayed fluctuations in aluminium prices, with the only spike...
LME aluminium price hits 11-week high amidst improved demand prospects in China; SHFE price drops to US$2,683/t
LME aluminium opened at US$2,290 per tonne in the previous trading day, with its high and low at US$2,313.5 per tonne and US$2,285.5 per tonne, respectively, before closing at US$2,309 per tonne, up US$25.5 per tonne or 1.12 per cent. On Thursday, aluminium prices surged to their highest point in...
