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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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...
LME aluminium price settles 1.61% higher at US$2530.50/t; SHFE price gains US$10/t to US$2981/t
Three-month LME aluminium contract rose 1.76 per cent to settle at US$2,600 per tonne on Monday, November 8. On Monday, November 8, LME aluminium cash (bid) price and LME official settlement price increased by US$40 per tonne or 1.61 percent to stand at US$2,530 per tonne and US$2,530.50 per tonne,...
China’s A00 aluminium ingot price builds-up RMB210/t to open the week at RMB18860/t; Aluminium alloy(A356) price gains RMB100/t
A00 aluminium ingot price in China has increased by RMB 210 per tonne on Monday, November 8, following a sharp downfall of RMB 1,300 per tonne on Friday, November 5. According to the Shanghai Metals Market, the primary aluminium ingot price has come in at RMB 18,860 per tonne, with average prices...
Primary Aluminium Weekly Recap: Yunnan removes preferential electricity pricing for aluminium producers to control power consumption; Century Aluminum reports 10% rise in net sales during 3Q 2021
The primary aluminium segment of the global aluminium industry has been in the limelight due to various events. In China, the Yunnan provincial government issued a policy prescribing an immediate cancellation of power price discounts and subsidies to the aluminium industry. It used to offer...
China’s power rationing may cause shortage of aluminium for the packaging industry
Power restrictions in China has “dramatically reduced” magnesium shipments to Europe, raising concerns that a scarcity of aluminium for packaging may result. The comments were made on November 3, during a non-ferrous metals panel discussion at the Bureau of International Recycling's (BIR)...
Primary aluminium inventories in China increase 12.3% to exceed 1 million tonnes on November 4
According to the Shanghai Metals Market, social inventories of primary aluminium built-up 31,000 tonnes or 12.32 week-on-week across eight major Chinese consumption areas. On Thursday, November 4, primary aluminium inventories came in at 1.01 million tonnes, contributed by higher stock arrivals in...
Alumina spot price in China continues to decline to come below RMB4000/t; A00 aluminium ingot price falls sharply by RMB1300/t
The average alumina spot price in China has declined for the fourth day in a row to stand below RMB 4,000 per tonne, found the Shanghai Metals Market. On Friday, November 5, the price has sharply decreased by RMB 88 per tonne to come in at RMB 3,926 per tonne. In Shandong and Guizhou, alumina price...
Aluminium billet inventory in China descends by 24,500mt this week to settle at 138,300mt
According to the Shanghai Metals Market (SMM), aluminium billet inventories in China descended by 24,500 tonnes week-on-week across five major consumption areas. As a result, the inventories totalled at 138,300 tonnes on Thursday, November 4. The major reason behind the decline in aluminium billet...
China’s average alumina price drops for the third day in a row to RMB4014/t; A00 aluminium ingot price climbs by RMB140/t
The average alumina spot price in China has slipped for the third day in a row by RMB 9 per tonne to stand at RMB 4,014 per tonne on Thursday, November 4, found the Shanghai Metals Market. In Shandong, Henan, and Shanxi, the price has decreased by RMB 10 per tonne to RMB 4,030 per tonne, RMB 4,040...
Yunnan in China removes preferential electricity pricing for aluminium producers to control power consumption
Southwest China’s Yunnan province, one of the country’s largest aluminium-producing areas, has reportedly removed preferential electricity pricing for electrolytic aluminium producers to control power consumption amid shortages. The news came after the provincial government issued a policy on...
Aluminium prices to stay high until next year, owing to high energy cost: Global Analysts
Price of aluminium will stay high until next year, since smelters have been compelled to cut production due to increased energy costs. On Monday, Global analysts stated that, the total price of aluminium in 2021 is expected to stand at US$2,450 per tonne and US$2,300 per tonne in 2022, up from...
Average alumina spot price in China slips by RMB9/t to settle at RMB4110/t; A00 aluminium ingot price declines by RMB130/t
The average alumina spot price in China has slipped by RMB 9 per tonne on November 2 after over a week-long restraint from October 22 to November 1. According to the Shanghai Metals Market data, the average alumina spot price has come in at RMB 4,110 per tonne as of November 2. In Henan and Shanxi,...
“The current power crisis inside China is about policy deployment gone wrong,” Paul Adkins, Founder and Managing Director, AZ China
Paul Adkins, Founder and Managing Director of specialist consulting firm AZ China Ltd, has had over 30 years of experience in the aluminium industry, including 13 years at Alcoa, 4 years at Tomago Aluminium and 3 years at Alcan Australia. AZ China is a specialist consulting company, with a focus on...
China’s A00 aluminium ingot price opens the week higher at RMB20240/t; Aluminium alloy (A356) price climbs RMB100/t
A00 aluminium ingot price in China has increased by RMB 40 per tonne to stand at RMB 20,240 per tonne on Monday, November 1, found the Shanghai Metals Market. The average prices are expected to range between RMB 20,220 per tonne and RMB 20,260 per tonne, with average prices likely to range between...
Downstream Weekly Recap: Aluminium scarce related to magnesium supply deficiency from China, says AMAG chief; India’s coal supply curb drags unrest in SMEs of aluminium supply chain
The global aluminium downstream segment has been in the spotlight this week due to a number of events. To begin with, the CEO of AMAG Austria Metall AG, Gerald Mayer cautioned by saying that the primary reason for the aluminium dearth is actually due to the shortage of magnesium supply that...
Aluminium billet inventories in China loses 18,100 tonnes this week to total at 163,100 tonnes
According to the Shanghai Metals Market (SMM), aluminium billet inventories in China dropped by 18,100 tonnes week-on-week across five major consumption areas. As a result, the inventories totalled at 163,100 tonnes on Thursday, October 28. The major reason behind the decrease in aluminium billet...
Novelis to expand its Zhenjiang aluminium production and recycling facility by mid-2024
Novelis, the world's largest aluminium recycler, announced on Friday that it will spend $375 million in its Zhenjiang facility in China to enhance recycling and manufacture of aluminium products used in the car sector. Metal recycling will be critical in the energy transition, which will entail a...
China’s primary aluminium inventories grow for two straight months to stand at 982,000 tonnes
China’s social inventories of primary aluminium rose 25,000 tonnes week-on-week across eight major consumption areas, including SHFE warrants, to come in at 982,000 tonnes on Thursday, October 28. That marked the eighth consecutive week of rising, primarily contributed by higher arrivals of stocks...
