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 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...
China’s June alumina production grows by nearly 2% from a month ago to 5.71 million tonnes
According to Shanghai Metals Market data, China’s alumina production stood at 5.71 million tonnes in June, including 5.5 million tonnes of metallurgical-grade alumina. The daily output came in at 183,000 tonnes, 1.82 per cent higher from a month ago but down by 4.57 per cent on the year....
CPCA shows an expanded Y-o-Y hike in China’s passenger car sales in June on improved domestic vehicle market
The China Passenger Car Association data released on Thursday, July 9, that country’s new energy passenger car sales surged 25 per cent month-on-month to come in at 83,000 units in June, in the wake of domestic passenger vehicle market’s improvement over the past four months. However, on a...
Surge in aluminium billet shipments from east China lead to a fall in inventories on July 9
Following a rise of 6,900 tonnes last week, aluminium billet inventories in China have declined today, on July 9, due to a surge in shipments from warehouses in east China. SMM data shows the stocks of 6063 aluminium billets across the five major Chinese consumption areas have edge down 900 tonnes...
China’s primary aluminium production grows 2.42% year-on-year in June: SMM survey
According to Shanghai Metals Market survey, China’s primary aluminium production in June totalled 3 million tonnes, up 2.42 per cent year-on-year. As of June-end, there were 36.76 million tonnes of primary aluminium capacity in operation out of the existing 41.23 million tonnes per year total...
Average alumina spot price in China expands growth to stand at RMB2408/t, A00 aluminium ingot price declines higher
According to Shanghai Metals Market, the average alumina spot price in China has recorded a higher hike today, on July 8, by RMB 38 per tonne to stand at RMB 2,408 per tonne. In the east, the alumina price has grown by RMB 50 per tonne to RMB 2,400 per tonne, while that in the central and north has...
China allows 209,600 tonnes of additional aluminium scrap import in the ninth batch of quotas, highest since April
China’s Ministry of Ecology and Environment has issued the ninth batch of aluminium scrap import quotas for 2020 on Monday, July 6, according to Shanghai Metals Market report. The Ministry has confirmed that the ninth batch of quotas would allow 209,660 tonnes of additional high-grade aluminium...
Chinese alumina spot price expands by RMB35/t on market sentiment boost, A00 aluminium ingot price down by RMB20/t
The average alumina spot prices in China have continued to rally upon the market boost on Chalco’s announcement of alumina production cut, found Shanghai Metals Market. On Tuesday, July 7, the average alumina spot price has expanded by RMB 35 per tonne to stand at RMB 2,370 per tonne. In the...
Chinese imports worth $12 billion under the scanner of India Govt., including Aluminium products
India reviews measures to restrict imports from China; it is dusting-up by raising basic customs duties on multiple products. This would begin with non-tariff measures, such as standard specifications for hundreds of items, in the medium term, as per the sources. However, the move is not...
China’s primary aluminium inventories decline by 4,000 tonnes to 715,000 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 weekend. Inventories decreased 4,000 tonnes from last Thursday July 2 to 715,000 tonnes as of Monday July 6. The chart...
Weekly update: Alumina price and A00 aluminium price in China performed higher over the week
The alumina price in China performed higher over the week, except Monday. The price on Tuesday increased by RMB 15 per tonne to stand at RMB 2276 per tonne, after remaining flat on Monday. The price stood at RMB 2333 per tonne on Friday July 3, up RMB 46 per tonne from RMB 2287 per tonne on...
COVID-19 Recovery: New-vehicle sales in China rise for the third consecutive month in June, CAAM estimates
According to estimates released by the China Association of Automobile Manufacturers on Thursday, July 2, Chinese new-vehicle sales continued to grow for the third consecutive month in June 2020, as the industry recovery from COVID-19 crisis gained speed in the past three months. Based on the data...
Chalco cuts 1.8 million tonnes of alumina capacity
Reuters reported Chalco would implement “flexible production” at three alumina production lines in accordance with market conditions. Flexible production is a phrase used to refer to output cuts. The three refineries, at subsidiaries Shanxi Huaxing and Shanxi New Material in northern China’s Shanxi...
Chinese alumina spot price marks second-highest growth this year climbing RMB46/t, A00 aluminium ingot price shows restraint
The average alumina spot price in China has recorded a significant hike for the fourth day in a row, higher from the earlier three days, found Shanghai Metals Market. SMM data shows the price has climbed by RMB 46 per tonne or 2.01 per cent to stand at RMB 2,333 per tonne, as of Friday, July 3,...
Aluminium billet inventories increase by 6,900 tonnes week-on-week due to higher stock arrivals
Aluminium billet inventories in China have increased this week due to higher arrivals, found Shanghai Metals Market. SMM data shows the stocks of 6063 aluminium billet have rebounded by 6,900 tonnes week-on-week across five major consumption areas to stand at 73,200 tonnes, following a decline of...
India-China skirmish effect: Delay in Haima Austomobile's new energy vehicle debut in India
Sino-China tension, in addition to the on-going economic disruption due to the COVID-19 crisis, may cause a further delay in Chinese automaker Haima Automobile’s entry in India. Earlier this year, Haima New Energy (a wholly-owned subsidiary of Haima Automobile Group) had entered into a technical...
Huaxing alumina refinery temporarily closes a production line, removes 50-80 thousand tonnes supply
Huaxing alumina refinery, located in Shanxi province of northern China, has temporarily closed one of its production lines following an equipment accident, reported several sources on Monday, June 29. According to market estimates, the alumina production line could take 20 to 30 days to return to...
India-China tensions: India Government mulling measures to curb aluminium imports from China
According to a recent report, India has started contemplating various measures to minimise the aluminium imports as metal shipments from China have marked a sharp hike. Ministry of Mines has formed an Inter-Ministerial Committee (IMC) to examine ways to trim aluminium imports and prop up domestic...
