US Treasury yields rise, pressuring aluminium prices to consolidate at highs amid mixed signals
Futures: The most-traded SHFE aluminium 2610 contract closed at RMB 23,990 per tonne, down RMB 15 from yesterday's settlement price, a decline of 0.06 per cent. It opened at RMB 23,995 per tonne during the day and fluctuated within a range of RMB 23,950-24,055 per tonne. Prices traded below the MA5...
WEEKLY: China alumina prices edge lower but pace slows as firm costs buffer soft supply glut
Domestic alumina spot prices held steady with slight adjustments last week, and scattered transactions showed mixed pricing. On the supply side, recent domestic alumina operating capacity stayed at around 99.4 million tonnes per year. A new alumina project in Beihai, Guangxi, is expected to start...
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LME aluminium price shed $5/t to stand at $1836/t after four consecutive days of hike; SHFE increased to $2218/t
Three-month LME aluminium shed 0.43 per cent to end at US$ 1,847.5 per tonne on Wednesday, October 14, after hitting an intraday high at US$ 1,858.5 per tonne earlier in the session. It is expected to move between US$ 1,830-1,870 per tonne today. Both LME aluminium cash (bid) price and LME official...
China’s metallurgical-grade alumina output slips by 1% M-o-M to 5.7 MT in September 2020
According to the latest data revealed by the Shanghai Metals Market, China’s alumina production in September 2020 stood at 5.91 million tonnes, including 5.7 million tonnes of metallurgical-grade alumina. This marked a downfall of 1.04 per cent from 5.76 million tonnes of metallurgical-grade...
EU to impose tariffs on Chinese aluminium extrusions
According to a Reuters report, the European Union on Tuesday said it will impose tariffs on Chinese aluminium extrusion midway through an investigation into whether manufacturers from China are selling at unfairly low prices. The duties will range from 30.4 to 48.0% and will apply from Wednesday....
China’s September primary aluminium production declines by 2.5% M-o-M to 3.11 MT, but increases by 7.7% Y-o-Y
China’s primary aluminium production continued to grow by 7.68 per cent year-on-year in September 2020 to stand at 3.11 million tonnes, found the Shanghai Metals Market survey. But when compared to the month earlier, the output of September stood down by 2.51 per cent from 3.19 million tonnes. As...
China’s aluminium billet inventories jumped to 105,700 tonnes during National Days holidays
According to the Shanghai Metals Market, 6063 aluminium billet inventories in China have surged during the National Days holidays from October 1 to 8 across five major consumption areas. As per the data, aluminium billet inventories have expanded by 42,000 tonnes from pre-holiday levels to stand at...
China’s primary aluminium ingots inventories build up 60,000 tonnes over a week-long holiday
The Shanghai Metals Market found China’s social inventories of primary aluminium ingots increased significantly during the National Days holidays from October 1 to 8 on concentrated arrivals of cargoes. According to the data, primary aluminium inventories built up 60,000 tonnes over a week-long...
Aluminium ingot price opens higher by RMB 170/t after the holidays; Prebaked anode price in East market stands at RMB3132.5/t
China market reopened on October 9 after the National Day and Mid-Autumn Festival holidays. SMM aluminium ingot price edged higher by RMB 170 per tonne to stand at RMB 14850 per tonne on Friday, 09 October 2020, from September 30’s price of RMB 14680 per tonne. The price is expected to range at RMB...
Recovery in China’s metal market resulting in incessant rise in unwrought aluminium imports may lead to polarisation
Incessant increase in China’s unwrought aluminium imports indicates a rare inversion in normal trade patterns. In August 2020, China imported 393,000 tonnes of primary aluminium and unwrought alloy combined, close to the previous record of 394,000 tonnes in April 2009. It is no coincidence that...
Luoyang Wanji Aluminium Processing Co., Ltd. facility certified against ASI Performance Standard
Luoyang Wanji Aluminium Processing Co., Ltd. has received Aluminium Stewardship Initiative (ASI) Performance Standard certification for its rolling facility in Luoyang City, China. The plant produces foils for use in a wide variety of sectors such as transportation, packaging, building supply,...
Benchmark aluminium price on LME ended 0.64% lower at $1705/t on Friday; SHFE was closed for National Day holidays
Benchmark aluminium price on the London Metal Exchange stood lower by 0.64 per cent at US$ 1705 per tonne on Friday, October 2, from US$ 1716 per tonne on Thursday. As of Friday, both LME aluminium cash (bid) price and LME official settlement price declined for the third consecutive day from US$...
Weekly update: Aluminium ingot price in China ended lower; Aluminium alloy (ADC12) performed higher
SMM aluminium ingot price started the week with an increase of RMB 270 per tonne and RMB 180 per tonne on Monday and Tuesday. The price stood at RMB 14550 per tonne and RMB 14730 per tonne on September 28 and September 29. Ingot price ended RMB 50 per tonne lower at RMB 14680 per tonne after...
Chinalco Subsidiary in Guangxi caught for violating environmental regulations and polluting the surroundings
China’s Ministry of Ecology and Environment (MEE) has alleged the state-run Aluminium Corp of China (Chinalco) for repeatedly violating environmental regulations at a plant in Guangxi. A week earlier, a central government environmental inspection team found that affiliates of the Chinalco...
China’s aluminium billet inventories drop 7,900 tonnes on lower arrivals
According to Shanghai Metals Market, stocks of 6063 aluminium billet across five major consumption areas in China dropped 7,900 tonnes on smaller arrivals. Aluminium billet inventories stood at 63,600 tonne as of Wednesday September 30. The chart below indicates the current status of aluminium...
Primary aluminium inventories fall by 61,000t as downstream sector increases purchase before Chinese National Holiday
Primary aluminium inventories in China have declined by 61,000 tonnes week-on-week across eight major consumption areas, including SHFE warrants, to stand at 655,000 tonnes, as of Wednesday, September 30, according to the Shanghai Metals Market. This sharp fall could be attributed to the increase...
How consumers preference for aluminium cans evolving consumption and recycle pattern all over the world
The growth of aluminium cans in the global market seems to be becoming insurmountable owing to the factors like disposable income of people, changing lifestyle, and evolving consumer preferences. Continuous shifts from plastic bottles to aluminium cans have triggered the demand further. Initiatives...
A00 aluminium ingot price declines by RMB50/t after three days of hike in a row; Australian alumina FOB price shrinks by $2/t
A00 aluminium ingot price has recorded a plunge of RMB 50 per tonne to stand at RMB 14,680 per tonne on Wednesday, September 30, following three consecutive hikes from RMB 14,270 per tonne to RMB 14,730 per tonne during September 24-29, found the Shanghai Metals Market. The average prices today are...
World alumina production grows 2.6% year-on-year to 11.366 million tonnes in August 2020: IAI
According to the latest data released by the International Aluminium Institute, world alumina production in August 2020 stood flat at 11.366 million tonnes, following a hike of 3.1 per cent from 11.029 million tonnes in June to 11.367 tonnes in July 2020. On a year-on-year basis, the output in...
China’s unwrought aluminium alloy imports continue to grow Y-o-Y in August but down M-o-M to 146,000 tonnes
China, the world’s top exporter of aluminium, turned net importer for the first time in July 2020 since 2009. On a year-on-year basis, the country’s imports in July increased seven-fold to record the second-highest level, according to the China customs data. In August, the imports of unwrought...
