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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Rusal decides to quit aluminium trading joint venture in South China: Sources
Rusal, the world’s second largest aluminium company by primary production, has decided to step down from the aluminium trading joint venture in southern China, partly due to concerns over lower sales volume, said three sources with knowledge of the matter. Two of the sources also said that the...
“Confederation of All India Traders” appeals Govt. to hike duty on Chinese import of Aluminium utensils and Aluminium goods among others as festival season nears
As the Indian festive season is nearing, the Confederation of All India Traders (CAIT) has solicited support from the government to stop China participating in the Indian markets. Particularly, the traders' body has shot a letter to Union Commerce Minister Piyush Goyal, pressuring him to increase...
Aluminium operating rates in China improved by 0.2 percentage point last week owing to new alloy capacity : SMM
According to the Shanghai Metals Market, operating rates across major aluminium processors last week increased by 0.2 per cent point to 77.3 per cent, attributing to the commissioning of new capacity at primary aluminium alloy producers. Demand for aluminium foil remained strong, while orders at...
China’s automobile production grows 46.4% Y-o-Y during early August’20, but edges lower by 16% M-o-M: CAAM
China Association of Automobile Manufacturers (CAAM) found a month-on-month decline of 15.8 per cent in automobile production by 11 key Chinese automakers during early August. According to the data revealed by CAAM, automobile output stood at 1.11 million units, which was, however, higher by 46.4...
European Commission declares registration of imports for Chinese aluminium extrusions
On 24 th August’20, the European Commission declared that aluminium extrusions from China will be subject to registration by national customs authorities as of 25 th August’20 in the regards to the ongoing extrusions anti-dumping investigation initiated in February this year. European Aluminium...
China’s third-largest Aluminium producer Hangzhou Jinjiang’s dream for Aveyron based SAM Technologies fades in 2 years
The surprising takeover of the Arche group's auto parts foundries by China's third-largest aluminium producer, Hangzhou Jinjiang, only lasted two years. The fall in diesel automotive sales and the promised investments which were not made in these factories are the major cause to be considered, as...
China’s aluminium imports jumped sevenfold Y-o-Y to stand at 391,297 tonnes in July 2020: Customs data
China, the world’s top exporter of aluminium, turned net importer for the first time in July 2020 since 2009. The country’s aluminium imports during the said month jumped nearly sevenfold year-on-year to record the second-highest level, found China customs data. Arrivals of unwrought aluminium and...
Alumina price in China continues to increase to RMB 2347/t; Aluminium Alloy (A356) price drops by RMB150/t
As updated by Shanghai Metals Market, average spot alumina price in China has risen by RMB 17 per tonne on Monday, August 24 2020, to stand at RMB 2347 per tonne. This marks the third consecutive hike in alumina price. The prices in all other major markets have also increased today, except South....
COVID-19 hardly to impact global Bauxite supply: GlobalData Consulting
The global bauxite production for 2020 has been predicted to shrink by 0.1%, to 344 mt, as per the UK headquartered data analytics and consulting company GlobalData, production is hardly affected by the interim halt of mines due to COVID-19 epidemic. GlobalData stated that the production in...
China Hongqiao’s aluminium production declined 4.1% YoY in the first half of 2020
China Hongqiao Group, the world's biggest private-sector aluminium producer, reported 4.1% decline in production in the first half as it moved smelting capacity to southwest China to make use of hydro-electric power, Reuters reported. The company said on Friday its production of aluminium alloy...
World primary aluminium production marginally higher at 5.452 million tonnes in July 2020
Global primary aluminium production stood at 5.452 million tonnes in July, an increase of 0.63% from 5.418 million tonnes in July 2019, according to the latest data showed by the International Aluminium Institute (IAI) on Thursday, 20 August 2020. On a month-on-month comparison, the output...
Aluminium billet inventories in China decline by over 9,000 tonnes this week to stand at 60,000 tonnes
According to Shanghai Metals Market data, the 6063 aluminium billet inventories in China have decreased this week ended on August 20 by 9,400 tonnes from a week ago. SMM data shows the billet inventories are now at 60,000 tonnes, marking the second consecutive week of decline. On last Thursday,...
Primary aluminium inventories in China stood 25,000 tonnes higher this week
As updated by Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, increased this week. Inventories stood 762,000 tonnes as of Thursday, 20 August 2020, up 25,000 tonnes from a week ago. The chart below shows the current...
Alumina price in China rises by RMB 12/t after staying flat for three days; Australian alumina FOB price stands USD 271/t
As updated by Shanghai Metals Market, average spot alumina price in China has risen by RMB 12 per tonne on Thursday, 20 August 2020.The price now stands at RMB 2314 per tonne after remaining flat at RMB 2302 per tonne for the three days in a row. The prices in all other major markets have also...
Press Metal Aluminium Holdings’ revenue drops by 18.9% on lower aluminium prices; PBT up 1.2%
Press Metal Aluminium Holdings Berhad, the largest Aluminium smelter in South East Asia, has announced its second quarter financial results for the three months ended 30 June 2020. Revenue decreased by 18.9% to RM1.73 billion in 2Q FY20, from RM2.13 billion in 2Q FY19 on lower realised aluminium...
Henan Shenhuo announces 36% stake in alumina project
According to a Reuters report, China's Henan Shenhuo Coal and Power announced it will secure a thirty six percent (36%) stake in alumina project in the Guangxi region. This will help the company in minimizing its imports of the raw materials. The 3.12 billion yuan ($450 million) first phase of...
Shangqiu Yangguang Aluminium Product Co.,Ltd. joins ASI as new Production & Transformation member
Shangqiu Yangguang Aluminium Product Co.,Ltd. has joined Aluminium Stewardship Initiative (ASI) as new Production & Transformation member. This brings the total number of members working toward a responsible aluminium value chain to 129. Shangqiu Yangguang Aluminium Product Co.,Ltd., established in...
Chinese secondary aluminium producers operating rates recover 2.3 percentage points M-o-M in July 2020
According to the Shanghai Metals Market, the Chinese secondary aluminium producers operating rates increased by 2.3 percentage points on the month but fell by 5 percentage points from a year ago to stand at 50.3 per cent in July. Recovery in domestic and overseas automobile demand resulting in the...
