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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US aluminium plates, sheets, bars imports from China grow by 80.18% Y-o-Y in August 2021
According to the US Geological Survey (USGS), the United States imported 20,000 tonnes of plates, sheet, bars from China in August 2021, showing a month-on-month ascend of 10,290 tonnes or by 105.97 percent. In July 2021, 9,710 tonnes of plates, sheets, bars were imported from China, flaunting a...
China’s primary aluminium inventories gain 31000 tonnes week-on-week to 1.038 million tonnes on November 18
China’s social inventories of primary aluminium have built up by 31,000 tonnes this week across eight major consumption areas, including SHFE warrants, found the Shanghai Metals Market. Thus, the inventories have amounted to 1.038 million tonnes on November 18, compared to 1.007 million tonnes last...
China lays energy consumption benchmarks for power-intensive industries to reach net-zero goal, stocks of aluminium and steel tumbles
The Chinese state economic planner will execute a fresh set of energy consumption benchmarks for the country’s energy-intensive industries from 2022, proffering manufacturers three years to adhere or close down to attach its climate-change goals. The least efficiency standards materialize to clasp...
China’s alumina spot price shrinks to RMB3712/t; Bauxite price in Henan slips by RMB12.50/t after a month-long restraint
The average alumina spot price in China has decreased for the second day in a row on Wednesday, November 17, found the Shanghai Metals Market. Data shows the price has slipped by RMB 54 per tonne to come in at RMB 3,712 per tonne. In Shandong, alumina spot price has plunged by RMB 125 per tonne to...
A00 aluminium ingot price in China further dips by RMB250/t to RMB18940/t; Aluminium alloy (A356) price shrinks by RMB300/t
A00 aluminium ingot price in China on 16 th November has revealed a further dip of RMB 250 per tonne to RMB 18,940 per tonne, while the average prices are likely to range between RMB 18,920 per tonne and RMB 18,960 per tonne. The spot contract is estimated to be traded at a premium price of RMB...
China’s aluminium production in October grows 1.8% Y-o-Y to 3.13 million tonnes; Daily output falls lowest since July 2020
According to the data revealed by the National Statistics Bureau, China’s aluminium production in October stood at 3.13 million tonnes, 1.8 per cent higher year-on-year than 3.075 million tonnes. On a month-on-month calculation, the output stood up as well, ending a run of five straight monthly...
A00 aluminium ingot price in China falls by RMB240/t to RMB19190/t; Aluminium alloys prices shed RMB100/t
A00 aluminium ingot price in China has opened the week on November 15 with a downfall of RMB 240 per tonne after two consecutive days of hike from RMB 18,510 per tonne to RMB 19,430 per tonne. According to the Shanghai Metals Market, the price is currently standing at RMB 19,190 per tonne, with...
Downstream Weekly Recap: NIE inks MoU with aluminium extrusions specialist Bhoruka; China’s aluminium billet inventories decrease to 112,200 tonnes
The global aluminium downstream industry remained muted this week, except a few important updates. On Monday, November 8, Aluminium Stewardship Initiative announced that it successfully certified Aluflexpack, one of the leading international manufacturers of outstanding flexible packaging, against...
LME aluminium price ends the week higher at US$2676/t; SHFE price surges by US$71/t to exceed US$3000/t
LME aluminium cash (bid) price and LME official settlement price opened this week on Monday, November 8, at US$2,530 per tonne and US$2,530.50 per tonne, respectively, growing by US$40 per tonne or 1.61 per cent from the previous day. On Tuesday, November 9, they grew further to settle at US$2,581...
Power curbs in China reduce 7% domestic annual aluminium capacity, shows Mackenzie
Restrictions on power usage in China have resulted in a 7 per cent domestic annual aluminium production capacity cut so far this year. This news has come after Wood Mackenzie consultancy revealed the outcome of its comprehensive studies on the impact of China’s energy crunch on the domestic metals...
A00 aluminium ingot price in China soars by RMB630/t to exceed RMB19000/t; Aluminium alloy (A356) price climbs by RMB600/t
A00 aluminium ingot price in China has soared by RMB 630 per tonne on November 12, marking the second consecutive day of hike. According to the Shanghai Metals Market, the price is standing at RMB 19,430 per tonne, with average prices likely to range between RMB 19,410 per tonne and RMB 19,450 per...
Aluminium billet inventories in China decrease for the fourth week in a row to 112,200 tonnes: SMM
Aluminium billet inventories in China have decreased for the fourth straight week by 26,100 tonnes or 18.87 per cent across five major consumption areas, found the Shanghai Metals Market. As a result, the inventories have come in at 112,200 tonnes as of Thursday, November 11, primarily contributed...
China’s social inventories of primary aluminium loss 6000 tonnes this week to settle at 1.007 million tonnes
According to the Shanghai Metals Market, China’s social inventories of primary aluminium have dropped this week after more than two months of incessant hikes. Data shows the inventories have dipped by 6,000 tonnes across eight major consumption areas, including SHFE warrants, to come in at 1.007...
A00 aluminium ingot price in China records a hike of RMB290/t to RMB18800/t; Aluminium alloys (ADC12) price gains RMB50/t
A00 aluminium ingot price in China has increased by RMB 290 per tonne to stand at RMB 18,800 per tonne on Thursday, November 11, following a plunge of RMB 440 per tonne on the previous day. SMM data shows the average prices are expected to range between RMB 18,780 per tonne and RMB 18,820 per...
China’s primary aluminium production reflects M-o-M increase of 1.6% to 3.16 million tonnes for October 2021
In October 2021, China’s primary aluminium production reflected a month-on-month increase of 1.61 per cent from 3.11 million tonnes to 3.16 million tonnes, found the Shanghai Metals Market. But on a year-on-year basis, the output stood down by 2.55 per cent from 3.25 million tonnes. SMM data showed...
Average alumina spot price in China nosedives by RMB110/t to RMB3768/t; A00 aluminium ingot price shrinks to RMB18510/t
The average alumina spot price in China has decreased for the second day in a row on Wednesday, November 10. According to the Shanghai Metals Market, the price has plummeted by RMB 110 per tonne to come in at RMB 3,768 per tonne. In Shanxi, alumina spot price has seen a steep fall of RMB 175 per...
China’s alumina production in October 2021 records a 1.45% rise M-o-M to 6.29 million tonnes: SMM
Shanghai Metals Market data showed China’s alumina production in October 2021 came in at 6.29 million tonnes, including 6.05 million tonnes of metallurgical grade alumina. On a month-on-month calculation, the output edged 1.45 per cent higher than 6.20 million tonnes, while on a year-on-year basis...
Alumina spot price in China slips by RMB48/t to RMB3878/t; A00 aluminium ingot price settles higher at RMB18950/t
The average alumina spot price in China has declined by RMB 48 per tonne on Tuesday, November 9, following restraint on the previous day at RMB 3,926 per tonne. According to the Shanghai Metals Market, the downfall today has brought the alumina price to RMB 3,878 per tonne. In Shandong, alumina...
