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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A00 aluminium ingot price drops by RMB20/t on slower consumption; Australian alumina FOB price grows by US$2/t
On the weak consumption of domestic primary aluminium in China that led to a slower decline in inventories on June 4, the A00 aluminium ingot price has recorded a drop of RMB 20 per tonne to stand at RMB 13,480 per tonne on Friday, June 5, found Shanghai Metals Market. The average prices are...
Aluminium billet inventories decline slows down this week on higher stock arrivals and lower shipments
According to Shanghai Metals Market, the inventories of aluminium billets have slowed their decline this week ending Thursday, June 4, as arrivals increased versus lower shipments from warehouses. SMM data shows the 6063 aluminium billet stocks have declined by 4,000 tonnes across five major...
China’s primary aluminium inventories decline by 46,000 tonnes to 847,000 tonnes
As updated by Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, declined slower this week. Inventories stood at 847,000 tonnes in the week ended June 4, down 46,000 tonnes from previous week. The chart below shows the...
LME aluminium price rebounded to US$1526/t after two consecutive declines; SHE climbed to US$1878/t
The US dollar eased further on Wednesday, June 3, while stocks on Wall Street posted yet another robust day, as better-than-expected economic data bolstered optimism over the recovery from coronavirus-led shutdowns, which outweighed brewing US-China tensions and widespread protests in the US. The...
Three-month LME aluminium ended at a 10-week peak; SHFE aluminium shed 1.06%
The US dollar eased further on Tuesday. The dollar index, which gauges the greenback against a basket of major currencies, fell for a sixth straight day and plumbed the lowest since March 13 at 97.4335. LME aluminium climbed 1.4% and SHFE aluminium inched up 0.3%. Three-month LME aluminium climbed...
China’s car sales in May continue to inch up M-o-M: CAAM
The automobile market in China continued to inch up in May 2020, as found by the China Association of Automobile Manufacturers (CAAM). Sales rose 11.7 per cent year-on-year to come in at 2.14 million tonnes, according to the flash estimate by CAAM. Month-on-month, the sales in May recorded an...
Alumina spot price grows by RMB16/t after remaining restrained for a day; A00 aluminium ingot price drops further
According to Shanghai Metals Market, the average alumina spot price has recorded a hike of RMB 16 per tonne or 0.72 per cent to stand at RMB 2,236 per tonne, as of Wednesday, June 3. The price in the central has registered the highest growth of RMB 25 per tonne to stand at RMB 2,240 per tonne,...
China’s primary aluminium inventories continued to decline to 878,000 tonnes over the weekend
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. Inventories stood at 878,000 tonnes as of Monday June 1, down 15,000 tonnes from Thursday May 28. The chart below...
China’s aluminium imports may hit a decade high with increasing arbitrage opportunity post COVID-19 recovery
According to Reuters report, traders and analysts estimate a significant rise in China’s aluminium imports to hit the highest level in a decade, as an arbitrage opportunity created by demand recovery after coronavirus outbreak has made the aluminium import cheaper than sourcing the metal from...
China’s average alumina price extends growth to RMB2220/t; A00 aluminium ingot price up by RMB20/t
The average alumina spot price in China has grown for the second consecutive day by RMB 7 per tonne or 0.32 per cent to stand at RMB 2,220 per tonne, as of June 1, found Shanghai Metals Market. In the east, the alumina price has jumped by RMB 25 per tonne after a week-long restraint, with average...
Weekly update: Alumina price ended the week higher; A00 aluminium price performed higher over the week
The alumina market in China was flat over the week. The price did not show any movement in the first three days of the week. On Thursday, May 28, the average spot price of alumina stood RMB 2 per tonne lower at RMB 2204 per tonne. But the week ended higher at RMB 2213 per tonne, up RMB 9 per tonne....
Ivory Coast: The Port of Abidjan floats its first shipment of Bauxite export to China
On 29 th May’20, the Director-General of the Autonomous Port of Abidjan (PAA), Mr Hien Yacouba SIE witnessed the launch of the first shipment of 20,000 tonnes of Bauxite, at the bulk terminal. It is a first in Ivory Coast. The ore is now one of the products exported from the port. The cargo bound...
Australia unfolds anti-dumping probes into Chinese aluminium
Australia has set in motion three anti-dumping investigations into Chinese export and it includes aluminium, as per records from the Australian Anti-Dumping Commission, adding weight to Beijing’s claims that Canberra has played a lead role in abating up trade tensions between the two nations. The...
Primary aluminium inventories in China continue to fall sharply by 86,000 tonnes on May 28
China's social inventories of primary aluminium ingots have expanded their decline today, on May 28, by 7,000 tonnes from the previous week, found Shanghai Metals Market. Last week, on May 21, the inventories plunged by 79,000 tonnes, whereas this week they fell by 86,000 tonnes across eight major...
Chinese aluminium billet inventories extend downfall over the week ending May 28
According to Shanghai Metals Market, the aluminium billet inventories in China have continued to decline this week ending Thursday, May 28, driven by healthy demand and limited arrivals of stocks to warehouses. SMM data shows the aluminium billet inventories have decreased by 15,600 tonnes over the...
Chinese aluminium industry’s prosperity index plunged to the lowest in April 2020
Chinese aluminium industry’s prosperity index declined to the lowest in April 2020 since the first report launched in November 2015, according to the latest report released by China Nonferrous Metals Industry Association. Decreasing by 1.2 points, the prosperity index of China’s aluminium industry...
The NPC meetings in China propose development measures for NEVs; Suggest extending national subsidies and tax exemption
On Friday, May 22, China held the most important political event of the year - The National People's Congress (NPC) meetings, also known as “Two Sessions” in Chinese. At the annual gathering, the NEV-related proposals suggest to extend the national subsidies and purchase tax exemption, promoting...
A00 aluminium ingot price drops by RMB10/t after two consecutive rises; Aluminium alloy(A356) price down by RMB50/t
According to Shanghai Metals Market, the A00 aluminium ingot price has declined by RMB 10 per tonne to stand at RMB 13,350 per tonne, as of Wednesday, May 27, after two consecutive rises from RMB 13,150 per tonne to RMB 13,360 per tonne. The average prices are expected to range between RMB 13,330...
