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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Operating rates across Chinese aluminium processors dipped 0.7 percentage point in week ended on June 11
Operating rates across major aluminium processors in China dropped 0.7 percentage point week-on-week to 75.7 per cent in the week ended on Friday, June 11. But aluminium wire and cable outperformed other sectors, buoyed by backlog orders. Aluminium foil companies’ operating rates also grew slightly...
Sri Lanka’s import of aluminium cans during 2018-20 displays rapid growth
The economy of Sri Lanka has been envisioned with a significant growth by the Asian Development Bank’s (ADB) flagship annual economic publication as the domestic and global economic activity strengthens and vaccination campaigns gather momentum domestically and abroad. The pearl-shaped island...
China plans to release about 900,000 tonnes of primary aluminium from state reserves to ease price rally
According to a report last week, China is preparing to release 800,000-900,000 tonnes of primary aluminium from its state reserves in early July to ease the incessant hike of the metal price. The news came after consultancy CRU said in a note to clients. Shanghai primary aluminium price is...
Primary Aluminium Weekly Recap: LME aluminium price rallied to US$2470/t; China’s primary aluminium output climbed 2.5% in May
This week during June 7-11 has been eventful for the primary aluminium market as well as for AlCircle as the latter could announce the first set of confirmed participants for the upcoming AlCircle Expo 2021. Coming to the market news, Chinese aluminium giant Chinalco announced its aim of bringing...
China’s aluminium billet inventories down by 1,100 tonnes to 88,400 tonnes on June 10
According to Shanghai Metals Market, stocks of 6063 aluminium billet across five major consumption areas in China declined by 1,100 tonnes from previous week to stand at 88,400 tonnes as of Thursday, 10 June 2021. Aluminium billet outbound volume reduced by 4,600 tonnes to 44,300 tonnes last week,...
Metro Mining signs two new offtake agreements with China’s Xinfa Group for 7 million dry metric tonnes of bauxite
Metro Mining Limited has signed two new Binding Offtake Agreements with China’s Xinfa Group for a total 7 million dry metric tonne (DMT) of bauxite, aligning with Metro’s Stage 2 expansion plans. The new deal is likelyt to start next year. Metro Mining Managing Director and CEO Simon Finnis said:...
Primary aluminium inventories in China stand 3.67% lower at 919,000 tonnes on June 10: SMM
Primary aluminium inventories in China have extended decline this week, ending on Thursday, June 10, 2021, found the Shanghai Metals Market. Primary aluminium inventories have plunged by 35,000 tonnes or 3.67 per cent across eight major consumption areas, including SHFE warrants, to stand at...
China’s primary aluminium production climbs 2.15% month-on-month to reach 3.32MT in May 2021
China’s primary aluminium production climbed month-on-month to stand 2.15 per cent higher in May 2021, found the Shanghai Metals Market. According to the data, the output in May (31 production days) stood at 3.32 million tonnes against 3.25 million tonnes in April (30 days). On a year-on-year...
Chinese aluminium giant Chinalco targets to reach carbon peak before 2025
Aluminium Corporation of China (Chinalco), the state-owned biggest aluminium producer, has announced that it aims to bring the group’s carbon emissions to a peak before 2025, in line with the country’s climate goals. The aluminium giant has also targeted 2035 as its timeline to cut 40 per cent of...
Aluminium price in China increases to RMB 18510/t; Al Fluoride price declines by RMB 100/t
SMM aluminium ingot price stood at RMB 18510 per tonne on Thursday, 10 June 2021, indicating a hike of RMB 120 per tonne from Wednesday’s price of RMB 18390 per tonne. It is expected to move within a range of RMB 18490-18530 per tonne. On Thursday, 10 June 2021, aluminium price in Foshan and Wuxi...
China’s alumina production in May'21 grows for the third consecutive month to 6.42 million tonnes: SMM
Shanghai Metals Market (SMM) found that China’s alumina production rose for the third consecutive month in May 2021. According to the data, China produced 6.42 million tonnes of alumina in May, which reflected an increase of 5.07 per cent from 6.11 million tonnes in April. Of 6.42 million tonnes,...
Chinalco-SWA Co., Ltd. joins ASI as new Production and Transformation member
Chinalco-SWA Co., Ltd. has become new Production & Transformation member of ASI, bringing the total number of ASI Members to 172. The company is a state-owned “Low Carbon, Green Aluminum processing” enterprise. “The Company closely revolves around the development vision of Chinalco to “Build a...
Tsingshan Holding Group to expand aluminium production capacity in Indonesia in 2023
China’s Tsingshan Holding Group has planned to increase aluminium production in Indonesia in 2023 as the group diversifies operations in the country, CRU senior consultant Ying Dai said. The group will ramp up capacity to 500,000 tonnes per year in 2023. Tsingshan, which at present manufactures no...
Aluminium price in China falls by RMB 170/t; Aluminium alloy (ADC12) price drops to RMB 18600/t
SMM aluminium ingot price marked a decline after a hike yesterday. The price dropped by RMB 170 per tonne on Tuesday, 8 June 2021 to stand at RMB 18360 per tonne, from RMB 18530 per tonne on June 7. The price is expected to move within a range of RMB 18340-18380 per tonne today. In Foshan and Wuxi,...
Alumina price in China increases by RMB9/t after an intermittent restraint; Primary ingot price jumps above RMB18500/t
The average alumina spot price has continued to increase after an intermittent restraint on Friday, June 4. According to the Shanghai Metals Market, the price on June 7 has gained RMB 9 per tonne to come in at RMB 2,485 per tonne. In Shandong, alumina price has climbed by RMB 20 per tonne to RMB...
Weekly Alumina recap: Altech Chemicals submits patent with IP Australia for alumina coating of battery materials; Alumina spot price in China further gains RMB4/t to settle at RMB2476/t
The alumina price in China performed higher this week. The price stood higher by RMB 3 per tonne to stand at RMB 2465 per tonne on Monday, May 31 2021. The price on 2 nd June and 3 rd June increased by RMB 7 per tonne and RMB 4 per tonne to RMB 2472 per tonne and RMB 2476 per tonne after remaining...
Malaysia’s import restrictions on metal scrap may lose out recycling investments: Industry Association
On 4th May 2021, the officials of the Industry Association stated Malaysia’s proposal for restrictions on imports of scrap metal like aluminium among others might lose out to its neighbouring nations on the highly desired investment in the recycling sector. Lately, Malaysia has cropped up as a...
Primary Aluminium Weekly Recap: China’s aluminium ingot price plunged by RMB 410/t; Century Aluminum increased its production capacity at Mt. Holly aluminium smelter
Primary aluminium sector witnessed expansions and announcement of production data. LME price ended higher this week, while SMM aluminium ingot price trended downward. Let's recapitulate some of the top aluminium news from primary aluminium sector. LME aluminium cash (bid) price and LME official...
