Macro rate hike expectations pressure aluminium prices, while China's continued destocking underpins the market
Futures: The most-traded SHFE aluminium 2610 contract closed at RMB 24,000 per tonne, down RMB 190 from yesterday's settlement price, a decline of 0.79 per cent. It opened at RMB 24,100.00 per tonne during the day and fluctuated within a range of RMB 23,920-24,100 per tonne. The price traded below...
China aluminium extends gains into August; supply tightness, demand recovery to support September
As of August 31, the monthly average price for A00 aluminium ingots was RMB 23,869.0 per tonne in East China, up 3.34 per cent M-o-M; RMB 24,010.0 per tonne in South China, up 3.79 per cent M-o-M; and RMB 23,762.4 per tonne in Central China, up 3.42 per cent M-o-M, based on Mysteel's assessment. In...
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Average alumina spot price in China shrinks by RMB10/t to settle at RMB 3,404/t; Aluminium Fluoride price moves up by RMB 500/t
On Tuesday, November 30, the average alumina spot price has decreased by RMB 10 per tonne or by 0.29 percent to total at RMB 3,404 per tonne, found the Shanghai Metals Market. The average alumina price in Shandong and Henan remained restrained and settled at RMB 3,500 per tonne and RMB 3,425 per...
World alumina production reflects a growth of 3.71% M-o-M to 11.601 million tonnes in October 2021
According to the International Aluminium Institute, the world alumina production stood at 11.601 million tonnes in October 2021 (including both metallurgical and chemical), reflecting a month-on-month increase of 3.71 per cent month-on-month. In September, the output came in at 11.186 million...
Metro Mining signs bauxite deal with Xiangsen Aluminium worth 5 million WMT for the next 3 years
Metro Mining Ltd. of Australia stated last week that it has enlarged and extended its 'Strategic Cooperation Agreement' with Xiamen Xiangsen Aluminium Limited (Xiangsen Aluminium) for the delivery of approximately 5 million wet metric tonnes of bauxite over the next three years. According to Metro,...
Average alumina spot price in China decreases by RMB 59/t to stand at RMB 3,437/t; Aluminium Fluoride price ascends by RMB 500/t
The average alumina spot price on November 26 has decreased by RMB 59 per tonne or 1.68 percent to stand at RMB 3,437 per tonne, found the Shanghai Metals Market. The average alumina price in Lianyungang and Bayuquan has nosedived by RMB 400 and RMB 375 per tonne to close at RMB 3,150 per tonne and...
Aluminium wheel exports from China shrink 26% M-o-M to 65,400 tonnes in October 2021
As per the data recently shown by China customs, the country’s aluminium wheel exports in October 2021 recorded a decrease of 25.79 per cent month-on-month to 65,400 tonnes. On a year-on-year calculation, the exports stood 21.28 per cent lower, contributed primarily by Hebei and Guangdong as they...
Primary aluminium inventories in China plunge by 21,000 tonnes this week to stand at 1.02 million tonnes
China’s social inventories of primary aluminium have decreased by 21,000 tonnes week-on-week on Thursday, November 25, following a hike last week. According to the Shanghai Metals Market, the inventories this week have totalled 1.02 million tonnes across eight major consumption areas, including...
Aluminium billet inventory in China falls by 21,600 tonnes this week to stand at 78,900 tonnes
Aluminium billet inventories in China dwindled by 21,600 tonnes week-on-week across five major consumption areas, found the Shanghai Metals Market. As a result, the inventories settled at 78,900 tonnes as of Thursday, November 25. The inventories in Foshan and Huzhou declined the most, while Wuxi...
Average alumina spot price in China shrinks by RMB 195/t to close at RMB 3,496/t; A00 aluminium ingot price surges by RMB 200/t
On Thursday November 25, the average alumina spot price has plummeted after 4 days of remaining restraint. The recorded price closed at RMB 3,496 per tonne, showing a decrease of 5.28 percent or RMB 195 per tonne, found the Shanghai Metals Market. The average alumina price in Henan has descended by...
China’s alumina imports in October 2021 climb up 26% M-o-M to 219,400 tonnes
According to the recent data shown by China Customs, the country exported 5,700 tonnes of alumina in October 2021. That brought China’s total alumina exports from January to October to 108,100 tonnes. In October 2021, China imported 219,400 tonnes of alumina, which reflected a year-on-year decrease...
A00 aluminium ingot price drops by RMB50/t after three days of hike in a row; Aluminium alloys(ADC12) price shrinks to RMB20,300/t
After the three consecutive days of hike from RMB 18,340 per tonne to RMB 19,170 per tonne, A00 aluminium ingot price in China has recorded a drop of RMB 50 per tonne on Wednesday, November 24, to come in at RMB 19,120 per tonne. According to the Shanghai Metals Market, the average prices are...
World primary aluminium production grows 4% to 5.689 million tonnes in October’21 after two months of decline
According to the recent data found by the International Aluminium Institute, the world primary aluminium production grew 3.80 per cent month-on-month in October 2021, putting an end to the two consecutive monthly declines. As per the data, the production stood at 5.689 million tonnes in the said...
Rapid rise in SHFE/LME aluminium price ratio in October dents China’s extrusion exports, customs data
China customs data has reported an 8 per cent month-on-month downfall in the country’s aluminium extrusion exports in October 2021. As per the data, the exports stood at 74,400 tonnes in the said month, which also reflected a 4 per cent year-on-year fall. The decline in exports could be attributed...
A00 aluminium ingot price in China surges for the third day in a row to RMB19170/t; Aluminium alloy (A356) price builds-up RMB200/t
According to the Shanghai Metals Market, A00 aluminium ingot price in China has increased for the third day in a row by RMB 250 per tonne to stand at RMB 19,170 per tonne on Tuesday, November 23. The average prices are estimated to range between RMB 19,150 per tonne and RMB 19,190 per tonne, with...
Vietnam holds 1.8 million tonnes of aluminium worth $5 billion amid the global crisis
The top aluminium producer of the world, China which has created the popularity of the metal is now countering environmental issues, driving the nation’s metal supply through a drastic crisis and this has fuelled the escalation of prices globally. However, to append to the hardship, there are 1.8...
Primary aluminium weekly recap: Aluminium smelter explosion in China’s Yunnan province fuels surge in price of the metal; Scottish Govt. compelled to unveil the guarantee provided to Sanjeev Gupta’s GFG Alliance
The global primary aluminium segment has been in the spotlight this week due to a number of events. To begin with, Ali Al Baqali, the Chief Executive Officer of Aluminium Bahrain B.S.C. (Alba), received the 'People First Leader Award' at the GCC GOV HR Awarding Ceremony 2021 on October 26, 2021. It...
Aluminium smelter explosion in China’s Yunnan province fuels surge in price of the metal
On 19 th November 2021, the prices of aluminium surged as the cloud of supply distress is anticipated following an aluminium smelter in China that ceased its production due to an explosion. The Shanghai Metal Market reported that in China’s Yunnan province, an aluminium smelter with an annual...
Alumina spot price in China continues to decline for the fourth straight day to RMB3691/t; A00 aluminium ingot price hikes by RMB190/t
The average alumina spot price in China has continued to decrease for the fourth day in a row, found the Shanghai Metals Market. According to SMM data, alumina price has further slipped by RMB 10 per tonne on Friday, November 19, to settle at RMB 3,691 per tonne. In Shanxi and Guangxi, alumina...
Aluminium billet inventory in China drops by 11,700 tonnes this week to close at 100,500 tonnes
Aluminium billet inventories in China dropped again by 11,700 tonnes week-on-week across five major consumption areas, found the Shanghai Metals Market. As a result, the inventories closed at 100,500 tonnes as of Thursday, November 18. The main reason behind the decline in aluminium billet...
