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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Alumina price in China edges higher by RMB15/t; A00 aluminium price stands at RMB14170/t
As updated by Shanghai Metals Market, average spot alumina price in China has increased to RMB 2276 per tonne on June 30, after remaining flat at RMB 2261 since June 18. This marks an increase of RMB 15 per tonne. The prices of alumina in East, Central, and North China markets have risen by RMB 25...
Chinese primary aluminium inventories decline shrink to 4,000 tonnes since last Wednesday
Shanghai Metals Market found further downfall, although slower, in Chinese primary aluminium ingots inventories over the past three-day Dragon Boat Festival holiday. According to the data, the inventories across eight major consumption areas, including SHFE warrants, decreased 4,000 tonnes from...
China’s bauxite imports up 4% YoY in May; Guinea remains the top supplier
According to the latest data from China Customs, China’s imports of bauxite decreased 3.9 per cent month-on-month to 9.54 million tonnes in May 2020. On a yearly basis, imports were up by 3.57% from the same month of 2019. Total imports stood at 47.9 million tonnes in January-May, showed Customs...
A00 aluminium ingot price in China edges higher by RMB80/t amid muted input costs; Aluminium alloy (A356) price up by RMB50/t
According to Shanghai Metals Market, the A00 aluminium ingot price has recorded a hike over the Chinese Dragon Boat Festival Holiday by RMB 80 per tonne to stand at RMB 14,090 per tonne on Monday, June 29. The average prices are expected to range between RMB 14,070 per tonne and RMB 14,110 per...
India’s refractory companies exploring new destinations to lower Alumina dependency from China
The Indian refractory companies are making arrangements to source vital raw materials like alumina from new destinations to lower dependency from China, as pressure builds on the industry to secure untroubled supplies. The pivotal refractory companies have already held conversations with leading...
Fitch Ratings affirms Chinese Aluminium producer China Hongqiao at 'BB-'; Outlook remains Stable
Fitch Ratings has affirmed Chinese aluminium producer China Hongqiao Group Limited's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'BB-'. The Outlook remains Stable. Hongqiao's ratings indicate its position as one of the world's largest aluminium smelters, with a competitive cost base...
China’s aluminium production sector looks promising even after the COVID-19 crisis, suggests analyst
China’s giant aluminium production sector looks like being untouched by the COVID-19 crisis, according to an observation by a columnist for Reuters. The country’s annualised production has increased by 718,000 tonnes over the first five months of 2020, as per the latest estimate from the...
LME aluminium price closed Wednesday’s trading at US$ 1564/t; SHFE aluminium fell 0.5%
Benchmark aluminium price on London Metal Exchange dropped 0.86 per cent to US$ 1564 per tonne on Wednesday, June 24, from US$ 1577.5 per tonne on Tuesday. As of Wednesday June 24, LME aluminium cash (bid) price stands at US$ 1564 per tonne, LME official settlement price stands at US$ 1564 per...
China’s estimated primary aluminium production in May 2020 exceeds 3 million tonnes after a dip in April
China’s estimated aluminium production in May 2020 recorded a growth of 3.60 per cent to stand at 3.105 million tonnes, following a month-on-month drop in April, found the International Aluminium Institute (IAI). In April, China’s estimated aluminium output was 2.997 million tonnes, down by 3.17...
China’s aluminium billet inventories continue to decline to 66,200 tonnes
As updated by Shanghai Metals Market, inventories of aluminium billet in China continued to decline this week on reduced arrivals. Stocks of 6063 aluminium billet across five major consumption areas in China stood at 66,200 tonnes as of June 24, a decrease of 5200 tonnes from Thursday June 18. The...
Primary aluminium inventories continue to trend down over brisk trading ahead of the Dragon Boat Festival holiday
Primary aluminium inventories have extended the downfall by 32,000 tonnes over the week ending on Wednesday, June 24, according to Shanghai Metals Market. Data shows the inventories after declining across eight major Chinese consumption areas, including SHFE warrants, have come in at 722,000 tonnes...
Chinese alumina market participants worried about supply disruption if caused by Hydro’s Alunorte production cut
On Tuesday, June 23, Chinese alumina market participants reported that they are keeping a close eye to Hydro’s recent power outage in Brazil to determine if the incident would cause a long-term alumina supply disruption. “Although it might impact only around 100,000 tonnes of alumina supply to the...
China’s unwrought aluminium and products imports climbed 164.8% YoY in May
China’s imports of unwrought aluminium imports and aluminium products stood at 119,145 tonnes in May, more than doubled year-on-year, customs data showed on Tuesday. Imports increased by 12.3% month-on-month. On a yearly basis, imported jumped 164.8% from May 2019, the General Administration of...
CAAM revises auto sales estimate for 2020 in line with China’s market recovery from COVID-19 pandemic
China Association of Automobile Manufacturers (CAAM) has reportedly revised its estimate for China’s auto sales in 2020. From the previous estimate of a decline of 15-25 per cent, the association shows a sign of improvement expecting the sales to drop by 10-20 per cent, in line with China’s economy...
A00 aluminium ingot price in China again crosses RMB14,000/t benchmark amid muted input costs
On a further downfall of the social inventories of primary aluminium ingots in China on a brisk consumption on Monday, June 22, the price of A00 aluminium ingot has recorded a hike of RMB 70 per tonne to RMB 14,030 per tonne, found Shanghai Metals Market. This marks the second consecutive growth of...
India starts-off anti-dumping duty probe against importation of aluminium foil from China and others
India has commenced anti-dumping duty probe against certain kinds of aluminium foil imported from China, Indonesia, Malaysia and Thailand. Aditya Birla owned Hindalco Industries, Raviraj Foils and Jindal India Ltd have filed the application affirming dent resulting from the alleged dumping in the...
World primary aluminium production inches up by 1.44% YoY in Jan-May
Global primary aluminium production stood at 5.448 million tonnes in May, an increase of 0.7% from 5.410 million tonnes in May 2019, according to the latest data showed by the International Aluminium Institute (IAI) on Monday 22 June 2020. On a month-on-month comparison, the output increased by...
China loses WTO dispute against EU for market economy status, subsidized aluminium supply strikes back
In a spectacular development, China has lost a dispute to the European Union at the World Trade Organization (WTO) for a market economy status, as the former allowed the dispute to lapse. The development occurs after four years of battle for the market-economy status by China. The designation would...
