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 17,000 tonnes to 737,000 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 on brisk demand. Inventories decreased 17,000 tonnes from last Thursday June 18 to 737,000 tonnes as of Monday...
A00 aluminium ingot price climbs RMB50/t; Aluminium alloy (A356) price stands at RMB14600/t
A00 aluminium ingot price registered an increase of RMB 50 per tonne from Friday’s price of RMB 13910 per tonne. The price now stood at RMB 13960 per tonne on Monday, 22 June 2020 and is expected to move within a range of RMB 13940-13980 per tonne. In Foshan and Wuxi, the price rose by RMB 40 per...
China’s economy revival to lead to global aluminium recovery in H2 2020, but oversupply issues to persist: Alcoa CFO
Aluminium demand is likely to rebound in the second half of 2020 as China’s economy has begun to revive leading to the global recovery from the COVID-19 pandemic. But the overcapacity may continue to pose challenges to the industry, pointed out Alcoa CFO William F. (Bill) Oplinger in early June....
Weekly update: Alumina price in China ended the week flat; A00 aluminium price saw mixed performance
The alumina price in China continued to remain flat over the week. The price on Tuesday increased by RMB 12 per tonne to stand at RMB 2259 per tonne, after remaining flat on Monday. The price stood at RMB 2261 per tonne on June 18, up RMB 2 per tonne. The price did not show any movement on Friday....
A00 aluminium ingot price declines for the second consecutive day to RMB13,910/t; Price of aluminium powder dips 0.57%
According to Shanghai Metals Market, the A00 aluminium ingot price has recorded a decline for the second consecutive day of RMB 60 per tonne to stand at RMB 13,910 per tonne, as of Friday, June 19. The average prices are expected to range between RMB 13,890 per tonne and RMB 13,930 per tonne, with...
Chinese secondary aluminium operating rates inch up 1.6 percentage points in May 2020
According to Shanghai Metals Market, operating rates across China’s secondary aluminium industry increased 1.6 percentage points month-on-month to stand at 48.69 per cent in May. In April, China’s secondary aluminium industry’s operating rates were 47.08 per cent, lowering 0.22 percentage point...
Aluminium billet inventories in China decline by 2,500 tonnes on increased shipments from warehouses
Inventories of aluminium billets in China have declined this week ending on Thursday, June 18, as shipments from warehouses increased while arrivals decreased in contrast, found Shanghai Metals Market. SMM data shows, aluminium billets inventories today have declined by 2,500 tonnes across the five...
China’s primary aluminium inventories fell by 33,000 tonnes on week
As updated by Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, continued to trend lower this week. Inventories came in at 754,000 tonnes in the week ended June 18, down 33,000 tonnes from Thursday June 11. The chart...
European Aluminium demands action on subsidized Chinese supply
The Brussels-based European Aluminium said: “The European aluminium industry needs additional instruments to address the harmful effects of Chinese subsidies.” European Aluminium is a trade group consisted of more than 80 producers of the metal. The organization lauded that it is calling upon the...
LME aluminium price grew for the second consecutive day to $1577.50/t; SHFE price plunged by $16/t
The US dollar continued to move higher on Wednesday, June 17, as investors safe haven demand increased amid concerns about the coronavirus pandemic with a surge in cases in some US states. Three-month LME aluminium ended higher for the third consecutive day, as it bounced back after dipping to a...
China’s tension with India will upsurge India’s domestic production, including Aluminium
“The scaling tensions with China create an accelerated expectation of India’s attempt slow down its import dependency from its neighbour of North and shift the required demand to the local manufacturing” – as per industry experts. Even though China has cropped up to be India’s biggest trading...
China expands aluminium scrap import quotas by 5840 tonnes in the eighth batch for 2020
Shanghai Metals Market reveals that China's Ministry of Ecology and Environment has issued the eighth batch of copper and aluminium scrap quotas for 2020 on Tuesday, June 16. The authorities confirmed that the eighth batch of metal scrap quotas would allow additional 5,840 tonnes of high-grade...
A00 aluminium ingot price grows for the third consecutive day to cross RMB14000/t; Input costs remain muted
The A00 aluminium ingot price in China has recorded a hike for the third straight day on Wednesday, June 17, found Shanghai Metals Market. Following the growth of RMB 150 per tonne on June 16, the A00 aluminium ingot price today has climbed by RMB 110 per tonne to stand at RMB 14,080 per tonne....
Scholz Recycling Group and Weiqiao to build a recycling industrial park in Shandong Province
The German-based Scholz Recycling Group and Shandong Weiqiao Pioneering Group Co. have signed a memorandum of understanding to build a recycling industrial park in the Chinese City of Binzhou. Scholz Recycling Group plans to expand its recycling business in China. Rafael Suchan, Chief Executive...
China Aluminium Processing Summit 2020: Domestic aluminium demand to remain robust till mid-June
Shanghai Metals Market chief aluminium analyst Frank Liu estimates strong domestic demand for aluminium to likely sustain till mid-June in China. Speaking at the China International Aluminium Processing Industry Summit in Yantai on June 11, Liu pointed out that although the global demand for...
China’s primary aluminium inventories continue to decline by 20,000 tonnes to 767,000 tonnes
As updated by Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, continued to decline over the weekend. The drop in stocks was due to robust demand and higher arrivals. Inventories stood at 767,000 tonnes as of Monday...
China’s primary aluminium production in May stands highest since December: NBS
According to the data released by the National Bureau of Statistics, China’s primary aluminium production in May stood at 2.98 million tonnes, which was marginally up by 0.4 per cent from 2.967 million tonnes in April and the highest since December 2019. The launch of new smelting capacity and the...
A00 aluminium ingot price grows by RMB20/t on further plunge in inventories, input costs remain muted
The A00 aluminium ingot price has recorded a rise of RMB 20 per tonne to stand at RMB 13,820 per tonne on Monday, June 15, following a decline from RMB 13,860 per tonne to RMB 13,800 per tonne on June 12, found Shanghai Metals Market. The hike in A00 aluminium ingot price today could be attributed...
