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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Aluminium billet inventories in China inch up by 5,100 tonnes on May 6 after eight consecutive weeks of decline
According to the Shanghai Metals Market, 6063 aluminium billet inventories in China have increased by 9 per cent or 5,100 tonnes after eight consecutive weeks of decline. On May 6, 2021, aluminium billet inventories are standing at 139,100 tonnes compared to 134,000 tonnes last week on April 29....
China’s primary aluminium inventories remained flat; Stocks in Gongyi decreased by 5,000 tonnes on smaller arrivals
As updated by Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, remained unchanged from last Thursday to 1.12 million tonnes as of Thursday, 06 May 2021. The chart below shows the status of the primary aluminium...
China’s A00 aluminium ingot price exceeds RMB19000/t amid improved input costs; Prekabed anode price jumps by RMB205/t
On Thursday, May 6, A00 aluminium ingot price in China has crossed RMB 19,000 per tonne after resuming the market from the Labour Day Holiday. According to Shanghai Metals Market data, the primary aluminium ingot price has gained over RMB 300 per tonne to come in at RMB 19,150 per tonne, marking...
Vietnam decides to continue anti-dumping duties on Chinese aluminium products
On Tuesday, May 4, Vietnam announced its decision to keep anti-dumping duties on Chinese aluminium products imports. The news came after the Ministry of Industry and Trade said that it decided to continue imposing anti-dumping duties with a tax rate from 4.39 per cent to 35.58 per cent on certain...
Long-running rally of Chinese aluminium prices is turning into a disadvantage, nonferrous metal body warns
Aluminium producers in China have been reportedly generating the best profits in years due to the long-running rally of metal prices, driven by global economic recovery from the COVID-19 pandemic and rising demand. But amid this positive impact, the incessant surge in prices, on the other hand, is...
A00 aluminium ingot price in China reaches a new high of RMB18830/t; Aluminium fluoride price plunges by RMB550/t
A00 aluminium ingot price in China has reached a new high of RMB 18,830 per tonne on Friday, April 30, expanding further by RMB 100 per tonne after a surge of RMB 330 per tonne on the previous day, found the Shanghai Metals Market. The average prices are expected to range between RMB 18,810 per...
RUSAL appoints Roman Andryushin as Deputy CEO for sales in Russia, the CIS and China; Steve Hodgson returns as Director of Sales and Marketing
On 29th April 2021, RUSAL announced that it had appointed Roman Andryushin as Deputy CEO of sales in Russia, the CIS and China. The Company is also gratified to see the return of Steve Hodgson as Director of Sales and Marketing. The dual appointments are an indication of the Company’s refreshed and...
Aluminium billet inventories in China decline 28,700 tonnes W-o-W on enthusiastic purchase even amid price hike
According to the Shanghai Metals Market, 6063 aluminium billet inventories in China have decreased by 28,700 tonnes week-on-week across the five major consumption areas as of Thursday, April 29. SMM data shows the billet stocks have totalled 134,000 tonnes today compared to 162,800 tonnes last...
China’s primary aluminium inventories plunge by 25,000 tonnes on April 29
As updated by Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, continued to decline this week. The stocks dropped by 25,000 tonnes from last Thursday to 1.12 million tonnes as of Thursday, 29 April 2021. The chart...
China’s aluminium price jumps by RMB 330/t; Aluminium alloy (ADC12) price rises to stand at RMB 18450/t
SMM aluminium ingot price registered a jump after a drop yesterday. The aluminium price stood at RMB 18730 per tonne on Thursday, 29 April 2021, an increase of RMB 330 per tonne from RMB 18400 per tonne on April 28. The price is expected to move within a range of RMB 18710-18750 per tonne today. In...
Chalco records five-year high net profit of RMB 966.7 million in 1Q2021 beating Russian rival’s aluminium output
Aluminum Corporation of China Limited, popularly known as Chalco, announced on Tuesday, April 27, that its net profit in Q1 2021 recorded a thirtyfold year-on-year surge and stood five-year high at RMB 966.7 million ($149 million), driven by aluminium price growth to decade peaks and production...
China’s aluminium wires and cables exports decline 61% in March 2021 due to lower domestic export orders
In March 2021, China’s aluminium wires and cables exports stood at 10,600 tonnes, reflecting a month-on-month decline of 4.1 per cent and year-on-year 61 per cent, found China customs data. The export value reached $27.374 million in the said month. In Q1 2021, China exported about 37,500 tonnes of...
Zimbabwe’s import of aluminium cans during 2019-20 reveals enterprising growth; 2021 projected with marginal rise, while expenditure to surge
The economy of Zimbabwe rooted in recession already before the COVID-19 pandemic and exhibited with 6% shrink in 2019. Output dropped due to economic uncertainty and the withdrawal of subsidies on maize meal, fuel and electricity prices, while the other factors were suppressing foreign exchange...
China Nonferrous Metals Industry Association appoints ‘Fan Shunke’ as its new aluminium head
On 27 th April 2021, a spokeswoman of the China Nonferrous Metals Industry Association (CNIA) said that Fan Shunke is appointed as the new head of aluminium, succeeding the retirement of the long-serving Wen Xianjun a few days earlier. A deputy secretary of the party committee at the CNIA, Fan...
China’s alumina price grows by RMB 23/t; Aluminium alloy (ADC12) price stands at RMB 18150/t
As updated by Shanghai Metals Market, average spot alumina price in China has registered a hike of RMB 23 per tonne from Monday’s price of RMB 2352 per tonne. The price now stands at RMB 2375 per tonne as of Tuesday, 27 April 2021. Alumina prices in Shandong and Shanxi have climbed by RMB 55 per...
LME aluminium price climbed US$14.5/t to settle at US$2388/t; SHFE price grew to US$2854/t
Three-month LME aluminium climbed 1.48 per cent to settle at US$ 2,404 per tonne on Monday, and is expected to move between US$ 2,390-2,410 per tonne today. LME aluminium cash (bid) price and LME official settlement price gained US$ 14.50 per tonne to stand at US$ 2,388 per tonne on Monday, April...
World alumina production grows 4.35% to 34.199MT in Q1 2021; Output in March improves by 11.41% M-o-M
According to the International Aluminium Institute, world alumina production in March 2021 stood at 11.832 million tonnes, bringing the total output to 34.199 million tonnes in the first quarter of 2021. The production in March reflected a hike of 11.41 per cent month-on-month from 10.620 million...
EU anti-dumping duties result in 22% decline in China’s March 2021 aluminium extrusion export
In March 2021, China exported 58,000 tonnes of aluminium extrusion, which reflected a 2 per cent month-on-month decline and 22 per cent on year, according to the latest customs data. The year-on-year downfall is analysed as an outcome of the lower exports due to the COVID-19 pandemic compared to...
