Low inventory supports aluminium prices to consolidate at highs; Peak season recovery pace awaits verification
Futures: The most-traded SHFE aluminium contract opened at RMB 24,590 per tonne in the night session on September 9, reached a high of RMB 24,660 per tonne and a low of RMB 24,565 per tonne, and closed at RMB 24,650 per tonne, up RMB 90 per tonne or 0.37 per cent from the previous close. Futures...
Mexico and Argentina take different AD actions on Chinese aluminium products
Mexico and Argentina are moving in different directions on aluminium imports from China. Mexico has imposed a new anti-dumping duty on aluminium bars, rods and profiles, while Argentina has dropped its existing anti-dumping order on certain aluminium tubes. Mexico has issued an anti-dumping duty...
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Ease in overseas grid construction leads to China’s aluminium wire and cable exports to a 2-year low
According to China customs data, September 2024 witnessed a continued decline in aluminium wire and cable exports. Month-on-month, the export volume was down by 29 per cent, while year-on-year, 39.77 per cent lower. Following a stable export trend at the beginning of the year, recording over 20 per...
BIR Convention highlights South-East Asia’s ascent as a global metals recycling hub
According to industry experts at the recent BIR convention in Singapore, Southeast Asia is rapidly establishing itself as a major hub for metals recycling, with new facilities emerging across Malaysia, Thailand, and Vietnam. Currently, BIR has a membership of over 1,100 companies, and around 1,200...
China’s average alumina spot price reaches RMB5056/t; A00 aluminium ingot price falls to RMB20780/t
On Thursday, October 31, the average alumina spot price in China has gained RMB 49 per tonne to settle at RMB 5,056 per tonne. The average alumina prices have shown growth in all the major regions, with the highest in Guizhou where it has surged by RMB 65 per tonne to settle at RMB 5000 per tonne....
Chinese anode giant Sunstone wins key order from Alcoa, marks strategic win
Chinese anode producer Sunstone was pleased to win a major order from US Aluminum company Alcoa and was so pleased that the story was released in Chinese media. I saw this photo and the accompanying story in Yicai. The story confirms that the contract is for 240,000 tonnes of anodes for the buyer's...
Zhejiang Jinfei Kaida to expand its Thai operations amidst growing demand for aluminium alloy wheels
In a recent survey, Zhejiang Jinfei Kaida Wheel Co., Ltd stated that local market demand has increased with major Chinese automotive brands like Chang'an, Great Wall, and BYD establishing production bases in Thailand. As a result, the China-based manufacturer and distributor of automotive...
ASI accredits Guangdong Golden Aluminum with the Performance Standard V3 (2022) Certification
Aluminium Stewardship Initiative (ASI) announced that Guangdong Golden Aluminum Co., Ltd. has earned the Performance Standard V3 (2022) Certification. Located in the Guangdong Province, the company unlocked this achievement for manufacturing aluminium alloy profiles for building and industrial...
Chalco’s net profit in 9 months heightens 68% Y-o-Y but still fails to meet Citi’s forecast
China's largest aluminum producer Aluminium Corporation of China Limited, popurlarly known as Chalco, has released its third quarter’s fiscal results, posting a 3.3 per cent year-on-year rise in net profit to RMB 2 billion (US$280.4 million). During the period under review, Chalco’s revenue also...
SMM alumina price hits milestone reaching RMB5007/t; A00 aluminium ingot price adds RMB50/t
The average alumina spot price in China, without much surprise, has finally reached the RMB 5000 mark. As of today, the price has hiked by RMB 57 per tonne to arrive at RMB 5,007 per tonne, reflecting a Y-o-Y surge of 66.40 per cent. The alumina prices have been growing significantly since...
China to EU: Stand-alone EV talks could undermine broader trade relations
China has issued a renewed warning to the European Union (EU), cautioning that any separate discussions with individual electric vehicle (EV) companies outside ongoing bilateral negotiations could harm the trust underpinning broader trade relations. The statement from China's Ministry of Commerce,...
‘September peak season’ leads to production and demand growth for aluminium billet, but current inventory level hints at near-term muteness
The traditional "September peak season" revitalised demand for China's primary aluminium billets and boosted their operating performance, leading to a new high production volume for the year and historically. Despite fewer operating days in September compared to August, the domestic primary...
Alumina price holding strong with 3.99% weekly gain; A00 aluminium ingot price drops to RMB20800/t
The average alumina spot price in China has shown a remarkable price surge amidst limited bauxite supply, which is crucial for domestic refineries. As of October 29, the price has surged by RMB 50 per tonne to settle at RMB 4,950 per tonne, reflecting a 3.99 per cent W-o-W growth. However, if the...
China’s industrial profits hit a 3-year low, emulating aluminium extrusion sector. Can fiscal stimulus measures revive growth?
The National Bureau of Statistics has reported a steep monthly fall in China's industrial profits to a three-year low in September 2024 on account of several factors, such as sluggish demand and consumption, decreased product prices, processing fees upsurge, and high costs of raw materials....
Qingxin Carbon secures patent for its Electrolytic Aluminum Cathode Corner Solution machine
Qingxin Carbon recently secured authorisation for its latest innovation focussing on the electrolytic aluminium industry from China National Intellectual Property Administration invention patent. This latest patent is for an "Electrolytic Aluminum Cathode Side Corner Scratching Machine." Image...
SMM alumina price sparks anticipation for RMB5000/t by week’s end, entering another week with a surge
The average alumina spot price in China shows no signs of easing its upward trajectory shortly amid limited bauxite inflow into the domestic market to feed refineries and heavy demand for alumina for primary aluminium production. As of October 28, China's domestic alumina price has entered yet...
West Africa’s Capesize growth hits new heights: Bauxite, iron ore, and manganese propel the region forward
West Africa, led by Guinea, is rapidly becoming a key supplier of bulk cargo for the Capesize shipping trades, bolstered by China's expanding electric vehicle (EV) industry. With Capesize and larger shipments from the region rising at an annual rate of 19.6 per cent since 2018, analysts at broker...
September 2024: China’s primary aluminium imports decline 16% M-o-M on limited arbitrage opportunity
According to the General Administration of Customs, China's primary aluminium import receded from its monthly high in September 2024, marking a sequential decline of 16 per cent. Even on an annual basis, the import volume decreased by 31.7 per cent, astonishing the industry for the unprecedented...
Aluminium and copper prices set to rise: Goldman Sachs raises 2025 outlook following China's demand stimulus
In a significant upward revision, the leading global investment banking, securities, and asset and wealth management firm, Goldman Sachs, has enhanced its 2025 price forecasts for aluminium and copper, driven by increased demand potential in China, the world's largest consumer of these metals. The...
Alumina price short of RMB 50 to touch RMB 5000 in China with Y-o-Y 20% overall gain
The week four of October 2024 closes with the frown on the traders' foreheads worsening as the alumina price range does not disperse any ray of hope. On October 25, the price of alumina was only RMB 50 short of touching 5,000 as the price range in Shandong and Shanxi reflected to be RMB 4,800-4,950...
