Mercuria, Glencore explore Venalum aluminium smelter deal as Venezuela eyes production revival
Venezuela’s biggest aluminium smelter, Venalum, could be heading for a fresh start as Mercuria Energy Group Ltd. and Glencore Plc explore a potential deal that could bring new investment and operating expertise to the facility that has spent years producing only a fraction of its original capacity....
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...
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Rusal appoints former-Chalco Trading CMO Deng Gang as Sales Director for China market
On 8th September 2021, the world's largest manufacturer of low-carbon aluminium, Rusal confirms the appointment of former Chalco trader Deng Gang as its new Sales Director for the China market. Deng previously held the position as Head of China for Concord Resources and before that, from 2016-20 he...
Zimbabwe’s import of aluminium bar rods and profile during 2019-20 displays robust growth; 4% dip predicated for 2021
Zimbabwe is going to utilize more than half of the $961 million allocated by the International Monetary Fund in the form of special drawing rights to support its distressed currency. Mthuli Ncube, Zimbabwe’s finance minister, said: “For the support of the currency we want to hold back about $500...
Chinese alumina spot price climbs RMB42/t to close at RMB3161/t; A00 aluminium ingot price settles higher at RMB21770/t
The interrupted supply of aluminium raw material due to military Coup in Guinea has further pushed the Chinese alumina spot price to RMB 3,161 per tonne on Wednesday, September 8. According to the Shanghai Metals Market, the price has climbed by RMB 42 per tonne from RMB 3,119 per tonne on...
Coup in Guinea: Moscow hopes Russian business interests won't suffer; China may turn to Australia for bauxite fearing global supply disruptions
On 7th September 2021, the Russian Govt. said it is strictly following the political situation in Guinea following a military coup there and hopes that the Russian business interests in the West African nation would go through hardship. The comments came a day after Russian aluminium giant Rusal...
Bauxite(4.5≤Al/Si＜5.5) price in Henan exceeds RMB500/t after military coup in Guinea; A00 aluminium ingot price grows by RMB70/t
According to the Shanghai Metals Market, bauxite(4.5≤Al/Si＜5.5) price in Henan has seen an increase of RMB 20 per tonne on Tuesday, September 7, to exceed RMB 500 per tonne. Due to the military coup in Guinea that has fuelled concerns over raw material supply required for aluminium smelting,...
China’s alumina spot price extends growth to RMB3119/t; A00 aluminium ingot price surges by RMB310/t
The average alumina spot price in China has extended its growth by RMB 45 per tonne to come in at INR 3,119 per tonne on September 6, 2021, found the Shanghai Metals Market. In Shandong, alumina price has climbed by RMB 50 per tonne to stand at RMB 3,125 per tonne, while the price in Henan and...
Downstream Weekly Recap: Hulamin’s aluminium rolled product sales grow 43% in H1 2021; China’s aluminium billet inventories increase 14,600 tonnes
Global aluminium downstream industry remained muted this week except delivering a few updates such as Hulamin’s, South Africa-based aluminium supplier and exporter, flattering results for both rolled and extruded product segments and the rise in China’s aluminium billet inventories on large...
Weekly Alumina Recap: Alumina spot price in China soared above RMB3000/t; Eurallumina on last stages to resume production
The global alumina industry saw a few updates this week that included China’s domestic alumina price surge and Europe’s one of the largest alumina refineries Eurallumina to resume operations in a while. The average alumina spot price in China rose throughout the week starting at RMB2,802 per tonne...
LME aluminium price opened this week at a 10-year high but closed lower at US$2696/t; SHFE price continued rising to US$3302/t
LME aluminium cash (bid) price and LME official settlement price reached a 10-year high this week at US$2,714 per tonne as of Tuesday, August 31. Due to a summer bank holiday, the LME market was closed on Monday and started the week on Tuesday. Next day, on September 1, both LME aluminium cash...
China’s aluminium billet inventories increase 14,600 tonnes this week on large arrivals of stocks and weaker purchases
According to the Shanghai Metals Market data, aluminium billet inventories in China built-up 14,600 tonnes or 11.7 per cent from a week ago to stand at 139,000 tonnes on Thursday, September 2. Last week, on August 26, China’s aluminium billet inventories hovered around 124,400 tonnes after...
China’s alumina spot price continues to grow to stand at RMB3074/t; A00 aluminium ingot price settles RMB100/t higher
The average alumina spot price in China has continued to grow for the fifth day in a row to reach at RMB3,074 per tonne as of Friday, September 3. According to the Shanghai Metals Market, the price has increased by RMB45 per tonne today from RMB3,029 per tonne on September 2. In Shandong, alumina...
Primary aluminium inventories in China fall 5,000 tonnes after three consecutive weeks of hike
According to the Shanghai Metals Market, social inventories of primary aluminium across eight major Chinese consumption areas have fallen this week by 5,000 tonnes after recording hikes for the past three consecutive weeks. SMM data shows the inventories have come in at 749,000 tonnes as of...
EU’s carbon border tax introduction will strike Russia hardest, China remains fairly unscratched
A joint research study by two European climate think tanks clearly stated that the European Union’s proposal of the world’s first carbon tax is likely to strike Russia hefty while China to remain fairly unscratched. In July, the EU proposed a Carbon Border Adjustment Mechanism (CBAM), or we can...
A00 aluminium ingot price in China closes up at RMB21,230/t; Aluminium alloy(A356) price soars above RMB22,000/t
A00 aluminium ingot price in China has recorded an increase of RMB70 per tonne on Thursday, September 2, following a downfall of RMB80 per tonne on the previous day. According to the Shanghai Metals Market, primary aluminium ingot price has come in at RMB21,230 per tonne, with average prices likely...
Top Newsmakers for August 2021: Jamalco refinery fire break out hurls price of alumina at 6 months high; Guangxi Power Grid Corp imposes power consumption restrictions on aluminium producers
The world aluminium sector in August 2021 demonstrated a sharp rise in demand for the metal from every corner of the earth. The month observed the surge in the price of aluminium, which escalated by over 30% from $ 2013.50 per tonne to US$ 2673.50 per tonne, while it has been recorded as a 10 year...
Top Chinese smelters assure to stabilise aluminium prices from new highs: CNIA
On Monday, August 30, the China Nonferrous Metals Industry Association (CNIA) held a meeting attended by the country’s top aluminium smelters to discuss the continuous surge in aluminium prices, both on the Shanghai Futures Exchange and the London Metal Exchange. Reaching at a 13-year high,...
China’s alumina spot price nears RMB3000/t by building-up RMB76/t; But A00 aluminium ingot price slips by RMB80/t
The average alumina spot price in China has continued to increase for the third day in a row by RMB76 per tonne to RMB2,974 per tonne on Wednesday, September 1, found the Shanghai Metals Market. In Guangxi and Guizhou, alumina price has surged by RMB125 per tonne to stand at RMB2,850 per tonne, and...
Global aluminium price rally to 10-year high lifts aluminium product cost
The sharp spike in aluminium prices to the 10-year high due to limited production in China, the world’s largest aluminium producer, for restricted energy usage is reportedly rippling through the cost of end-user products, right from Heineken cans to kitchen wrap. Until now this year, the global...
