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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China’s aluminium billet inventories rise by 3,600 tonnes to 68,600 tonnes
As updated by Shanghai Metals Market, inventories of aluminium billet in China increased after two weeks of decline on higher arrivals and lower shipments. Stocks of 6063 aluminium billet across five major consumption areas in China stood at 68,600 tonnes as of Thursday July 23, an increase of...
Primary aluminium inventories in China continue W-o-W decline to stand at 702,000 tonnes
According to Shanghai Metals Market, the social inventories of primary aluminium ingots have extended week-on-week decline on July 23 across eight major consumption areas, including SHFE warrants. Declining by 6,000 tonnes from the previous week, the inventories today have come in at 702,000...
COVID-19 impact: World primary aluminium consumption dropped 9% YoY to 15.482 million tonnes in Q2: Hydro
Hydro said in its Q2 results report that global primary aluminium consumption in Q2 declined 9 per cent due to the coronavirus pandemic. The world consumption stood at 15.482 million tonnes in Q2 as compared to 17.01 million tonnes in Q2 2019. In January-June, primary aluminium consumption came in...
World alumina production in May 2020 grows nearly 2% M-o-M to 11.1 MT; Total output during Jan-May remains flat Y-o-Y
According to the International Aluminium Institute data, the world alumina production in May 2020 stood at 11.1 million tonnes, up by 1.74 per cent from 10.91 million tonnes in April 2020. When compared to a year earlier, the output was found almost flat. In May 2019, global alumina production was...
World primary aluminium production rises by 1.24% to 32.045 million tonnes in H1 2020
Global primary aluminium production stood at 5.274 million tonnes in June, an increase of 0.25% from 5.261 million tonnes in June 2019, according to the latest data showed by the International Aluminium Institute (IAI) on Monday 20 July 2020. On a month-on-month comparison, the output decreased by...
China’s secondary aluminium operating rates fell nearly 1% in June on lower domestic downstream demand
According to the Shanghai Metals Market data, China's average secondary aluminium operating rates in June fell 0.7 percentage point to 48 per cent month-on-month. In May, the operating rates were 48.69 per cent after growing by 1.6 percentage points from the previous month. Year-on-year, China’s...
US aluminium scrap exports climb down 24% in April 2020, but exports to China trend higher by 7.7% M-o-M
According to the latest data released by the US Geological Survey for April, the United States, in the said month, exported 124,000 tonnes of aluminium scrap to various parts of the world. Month-on-month, the export declined by 39,000 tonnes or 24 per cent, following a hike in the previous month....
Primary aluminium inventories increase in China after over three months, stocks peg at 712,000t
After declining for more than the last three months, the social inventories of primary aluminium in China have recorded a rise across eight major consumption areas, including SHFE warrants, to stand at 712,000 tonnes, as of Monday, July 20, found the Shanghai Metals Market. Last week, on July 16,...
Weekly update: Alumina prices remain flat over the week; A00 aluminium price in China performed lower
The alumina price in China continued to remain flat over the week. The average spot price started the week higher at RMB 2495 per tonne on Monday, July 13, up RMB 50 per tonne from Friday. Alumina price remained unchanged in the last four days of the week. Other raw materials like Bauxite...
Italpresse Gauss: Supplies its first Chinese make HPDC machine to Huicheng Foundry
Italpresse Gauss, a Norican technology, has supplied its first Chinese make die casting machine to Huicheng Foundry Ltd, an aluminium foundry based in Jinan City, Shandong province, China. The TF1850 two-platen, high-pressure die casting machine was produced at Norican Group’s facility in...
LME aluminium price edged lower by $24/t on US dollar rise after four consecutive days of losses; SHFE extended decline
The US dollar rose on Thursday, July 16, while global stocks fell, as investors reacted to a mixed batch of economic data out of China and the US. The US dollar index, which measures the currency against a basket of rivals, gained 0.29 per cent to 96.250, after four consecutive days of losses....
Primary aluminium inventories in China continue to decline by 4,000 tonnes to 708,000 tonnes
As updated by Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, continued to trend lower, albeit at a slower pace. Inventories stood 708,000 tonnes as of Thursday July 16, down 4,000 tonnes from last Thursday July 9....
Chinese aluminium billet inventories expand week-on-week decline to stand at 65,000 tonnes
Aluminium billet inventories in China have continued to shrink over the week ending on Thursday, July 16, marking the second consecutive week-on-week fall, found Shanghai Metals Market. According to SMM, aluminium billet inventories today have declined due to high deliveries amid limited arrivals...
A00 aluminium ingot price declines by RMB420/t after three consecutive hikes; Australian alumina FOB price grows by US$13/t
Following the three consecutive hikes from RMB 14,320 per tonne to RMB 15,320 per tonne, the A00 aluminium ingot price has recorded a sharp decline today, July 14, of RMB 420 per tonne to stand at RMB 14,900 per tonne, found Shanghai Metals Market. The average prices are expected to range between...
Primary aluminium inventories in Henan decline by 7,000 tonnes to 40,000 tonnes
As updated by Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, were little unchanged over the weekend. Inventories stood 712,000 tonnes as of Monday July 13, unchanged from last Thursday July 9. The chart below shows...
China’s car production and sales continue to grow by 6% & 5% M-o-M in June, NEV manufacture and sales fall: CAAM
China’s automobile production and sales continued robust growth in June, marking the highest on record, according to the data released by the China Association of Automobile Manufacturers (CAAM) on Friday, July 10. Data showed the production of automobiles was 2.33 million units, bringing the total...
LME aluminium price decreased to $1639.5/t, while SHFE extended growth to $2172/t
Stocks on Wall Street were mostly higher on Friday, while the dollar slipped on Friday, July 10, as market sentiment was supported hopes of a potential vaccine for the novel coronavirus that outweighed concerns about the surge in infections in the US and around the world. The US currency posted its...
China’s primary aluminium inventories decline by 7,000 tonnes to 712,000 tonnes
As updated by Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, continued to trend lower over the week. Inventories decreased 7,000 tonnes from last Thursday July 2 to 712,000 tonnes as of Thursday July 9. The chart...
