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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Operating rates at China's aluminium processors remained stable last week on strong domestic demand
Shanghai Metals Market, after surveying 41 major aluminium processors in 12 provinces revealed that the average operating rates increased 1.3 percentage points on weekly basis to 78.8 per cent last week. This growth was primarily driven by sustained strong consumption from the construction and...
Solar-mounting systems manufacturer Schletter Group moves to larger site in China
Schletter Group, the international manufacturer of solar-mounting systems, made of aluminium and other metal components remains on a growth course. With the relocation of its Shanghai site to a new plant, the company is remarkably expanding its production capacities in China. Florian Roos, CEO of...
Bauxite price in Guangxi declines 5.36%; A00 aluminium ingot price stands at RMB13360/t
The average Bauxite (6.5≤Al/Si＜7.5) price in Guangxi stands at RMB 265 per tonne on Tuesday, 26 May 2020, down RMB 15 per tonne or 5.36 per cent, after remaining flat at RMB 280 per tonne since May 12. The average price is expected to move within a range of RMB 230-RMB 300 per tonne. The average...
LME was closed on Monday for spring bank holiday; SHFE price expanded growth to US$1854/t
The US dollar edged higher against a basket of rivals on Monday, while oil prices eased on concerns over rising tensions between the US and China over Beijing’s plans to impose security laws on Hong Kong and the possibility of sanctions from Washington. The London Metal Exchange was closed on...
Ningbo Xusheng Auto: To start construction of production plant for light-weight aluminium alloy auto parts
Shanghai-listed Ningbo Xusheng Auto Technology stated that it plans to invest 1.92 billion Yuan into the construction of an intelligent automation production plant, designed with an annualised capacity of 10 million light-weight aluminium alloy auto parts. Ningbo Xusheng Auto Technology Co., Ltd....
Chalco’s executive demands bauxite-rich Shanxi to become major aluminium production hub
An executive from a closed smelting unit of state-run Aluminum Corporation of China Limited, popularly known as Chalco, has demanded bauxite-rich Shanxi to become a major aluminium production hub. China is by far the world’s biggest producer and consumer of bauxite, the main ore source of...
Primary aluminium inventories expand decline over the weekend to 924,000 tonnes
According to Shanghai Metals Market, social inventories of primary aluminium ingots have expanded decline over the weekend ending May 25, owing to stable demand and limited arrivals of stocks to warehouses. SMM data found that the inventories of primary aluminium have decreased by 55,000 tonnes...
China’s bauxite imports record an all-time high at 28.41 million tonnes in Q1 2020
China’s bauxite imports rose to a record high in the first quarter of 2020, owing to greater demand and lower sea freight costs, found China customs data under HS code 26060000. In the first three months of 2020, China imported 28.41 million tonnes of bauxite, the highest quarterly import volume on...
World aluminium surplus stood at 709,000 tonnes in the first quarter of 2020
According to the report by the World Bureau of Metals Statistics (WBMS), World primary aluminium surplus stood at 709,000 tonnes for the first three months of 2020. Aluminium surplus was 761,000 for the whole of 2019. World primary aluminium demand came in at 15.7 million tonnes in the first three...
Secondary aluminium processing project construction begins in Yunxian County, China
According to a recent report by Shanghai Metals Market, the construction of a 100,000 tonnes per year secondary aluminium processing project and a 60,000 tonnes per year waste battery treatment project began in Yunxian County in Southwest China’s Yunnan province on Tuesday, May 12. The total...
Primary aluminium inventories expand decline by 79,000t W-o-W to fall below 1 million tonnes
Social inventories of primary aluminium ingots have continued to fall to as low as 979,000 tonnes, across eight major consumption areas, including SHFE warrants, as of Thursday, May 21, according to Shanghai Metals Market. Last week on Thursday, May 14, the primary aluminium ingots inventories were...
China’s aluminium billet inventories register second consecutive week of decline; Stocks hovering at 92,800 tonnes
China’s aluminium billet inventories, across five major consumption areas, expanded decline this week ending on Thursday, May 21, by 20,000 tonnes to stand at 92.800 tonnes, according to Shanghai Metals Market. Stable shipments from warehouses in contrast to limited arrivals could be attributed to...
A00 aluminium ingot price in China extends decline to RMB13460/t; Aluminium fluoride price down by RMB300/t
According to Shanghai Metals Market, the A00 aluminium ingot price has extended decline from RMB 13,480 per tonne on May 20 to RMB 13,460 per tonne on Thursday, May 21. The average prices are expected to range between RMB 13,440 per tonne and RMB 13,480 per tonne, with spot contract to be traded at...
World primary aluminium production marginally up at 5.255 million tonnes in April
Global primary aluminium production stood at 5.255 million tonnes in April, slightly more than that in April 2019, according to the latest data showed by the International Aluminium Institute (IAI) on Wednesday 20 May 2020. On a month-on-month comparison, the output decreased by 3.83% from 5.464...
China issues seventh batch of aluminium scrap import quotas for 2020 allowing additional 1480 tonnes
According to Shanghai Metals Market report, China’s environmental authorities on Monday, May 18, issued the seventh batch of import quotas for metal scrap, including aluminium. The authorities confirmed that the seventh batch of import quotas for 2020 would allow additional 1,480 tonnes of...
Yunnan Aluminium’s 500,000 tonnes per year smelting and hydropower project comes online
Yunnan Aluminium’s 500,000 tonnes per year smelting and hydropower project in China’s new smelting hub of Wenshan has officially started its operation, said the local government on Monday, May 19. The launch ceremony of the project, held on Friday, May 15, was attended by Yunnan province vice...
Tata Motors’ JV partner in China for JLR, Chery Automobiles to roll-out eQ5 electric SUV based on all-new aluminium platform
Tata Motors’ joint venture partner in China, Chery Automobiles, that has been manufacturing Jaguar Land Rover products for the Chinese market, is now ready to roll-out its first fully electric SUV, the eQ5, in its home country. The compact electric crossover is built on Chery’s all-new...
China’s primary aluminium inventories continued to trend lower 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 1.007 million tonnes as of Monday May 18, down 51,000 tonnes from last Thursday May 14. The...
