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 automobile production and sales achieve double digit growth in May, cumulative sales in five months decline: CAAM
According to the China Association of Automobile Manufacturers (CAAM), the country’s automobile production and sales both achieved double-digit growth in May. As per the data shown by CAAM, around 2.19 million units of automobiles were produced and sold in China last month. The production rose 4...
Recycled aluminium use in place of primary metal to gain back its pace: Rack Hu at 15th China Aluminium Processing Summit
At China Aluminium Processing Industry Summit 2020, Racket Hu, Vice President of SMM, said the usage of recycled aluminium in place of primary metal would continue in the long term, given the advantages of recycling in terms of cost and environment-friendliness. Speaking at the summit in Yantai, Hu...
China Aluminium Processing Summit 2020: Aluminium consumption in automobile to grow at 8.9% CAGR
Aluminium consumption in China’s automotive industry is expected to grow at a compounded annual growth rate (CAGR) of 8.9 per cent to 10.7 million tonnes by 2030. The news came after Tao Zhimin, auto sheet project manager at Nanshan Aluminium, said this at the China Aluminium Processing Industry...
Aluminium billet inventories gain 900 tonnes this week on increased stock arrivals
According to Shanghai Metals Market, the 6063 aluminium billet inventories on Thursday, June 11, gained 900 tonnes over the week to stand at 74,000 tonnes, following a drop of 4,000 tonnes on last Thursday, June 4, to 73,100 tonnes. SMM estimated that the growth in stock arrivals in contrast to...
Prebaked anode price in Southwest China down by RMB 150/t; A00 ingot price stands at RMB13800/t
Prebaked anode price in Southwest China market has edged lower by RMB 150 per tonne. As on Friday, 12 June 2020, prebaked anode price has ranged at RMB 2750-3090 per tonne; the average price stand at RMB 2920 per tonne, after remaining flat at RMB 3070 per tonne since May 6. The prebaked anode...
Primary aluminium inventories in China decline below 800,000 tonnes
The primary aluminium ingot inventories in China have continued to trend down today, on June 11, found Shanghai Metals Market. The stocks across eight major consumption areas, including SHFE warrants, have decreased by 60,000 tonnes over the week to stand as low as 787,000 tonnes, following a...
Chalco receives licence for new bonded bauxite warehouse in southern China’s Guangxi region
According to a Reuters report, Aluminum Corp of China Ltd , also known as Chalco, has received a license for its 100,000-square-metre bonded bauxite warehouse in Guangxi region in southern China. The warehouse, which has a storage capacity of 1.02 million tonnes of bauxite, will store bauxite...
Aluminum Extruders Council: Seeks an end to section 232 tariffs on imported Aluminum
The Trump Administration three years ago announced the 232 investigations into the national security implications of imported aluminium products. The US domestic aluminium industry was cheered up. It was presumed that finally, action would be taken on the largest threat to the domestic aluminium...
China’s passenger car sales up 1.9% YoY in May: CPCA
According to the China Passenger Car Association (CPCA), Retail sales of sedans, multi-purpose vehicles (MPVs), sport utility vehicles (SUVs) and mini buses stood at 1.64 million units in May, an increase of 1.9% year on year and 12.3% month on month. China's sales posted the first year-on-year...
Primary aluminium output in China grows to 3.07 million tonnes in May; Operating rates up 0.2 percentage point
According to the data released by Shanghai Metals Market, China’s primary aluminium production in May grew nearly 1 per cent over the year to 3.07 million tonnes. Compared to the previous month, the output stood higher by 3.72 per cent. In April 2020, China’s primary aluminium production was 2.96...
China’s alumina production grows 3.19% in May, daily output remains flat
China’s alumina production in May stood at 5.83 million tonnes, including 5.58 million tonnes of metallurgical-grade alumina, found Shanghai Metals Market. This was up by 3.19 per cent from 5.65 million tonnes in April, which included 5.4 million tonnes of metallurgical-grade alumina. China’s daily...
Three-month LME aluminium closed 0.82% higher; SHFE aluminium jumped 2%
The US dollar slipped on Monday. LME and SHFE base metals closed higher across the board last night. LME aluminium added 0.82% and SHFE aluminium gained 1.54%. Three-month LME aluminium traded robustly and broke up US$1,600 per tonne overnight. It ended 0.82% higher on the day at US$1,605 per...
A00 aluminium ingot price grows further by RMB150/t leading to lower spot contract; Aluminium fluoride price declines
The incessant downfall in Chinese primary aluminium stocks has resulted in further significant growth in A00 aluminium ingot price by RMB 150 per tonne to stand at RMB 13,850 per tonne, as of Tuesday, June 9, found Shanghai Metals Market. The average prices are expected to range between RMB 13,830...
Primary aluminium inventories in China continue to decline by 46,000 tonnes over the weekend
Echoing the lowering trend as of Thursday, June 4, the social inventories of primary aluminium again declined by 46,000 tonnes over the weekend ending Monday, June 8, across eight major Chinese consumption areas, including SHFE warrants, to stand at 801,000 tonnes, found Shanghai Metals Market. But...
China’s unwrought aluminium, aluminium products exports continued to decline to 382,900 tonnes in May
Exports of unwrought aluminium and aluminium products continued to trend lower in China. Exports of these products dropped by 28.56% from a year ago in May, after a decline of 11.4% in April. Unwrought aluminium and aluminium products exports stood at 382,900 tonnes, according to data from the...
A00 aluminium price inches up by RMB 220/t; Aluminium alloy (A356) price stands higher at RMB14400/t
A00 aluminium ingot price registered an increase of RMB 220 per tonne or 1.63 per cent from Friday’s price of RMB 13480 per tonne. The price now stood at RMB 13700 per tonne on Monday, 08 June 2020 and is expected to move within a range of RMB 13680-13720 per tonne. Spot aluminium contract is...
Weekly update: The week saw a flat alumina price trend; A00 aluminium ingot price witnessed mixed performance
The alumina price in China continued to remain flat over the week. The price started the week with an increase of RMB 7 per tonne to stand at RMB 2220 per tonne. On Wednesday, June 3, the average spot price of alumina stood RMB 16 per tonne higher at RMB 2236 per tonne, after remaining restrained...
Three-month LME aluminium closed lower at US$1,564.5/t; SHFE aluminium gained 0.5%
The euro jumped to a 12-week high against the US dollar on Thursday. The dollar index, which gauges the greenback against a basket of major currencies, fell for a eighth straight day and plumbed the lowest since March 12 at 96.5774. Three-month LME aluminium fluctuated to close a tad lower at...
