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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FY25 Outlook bright for Press Metal: Stable aluminium prices and China's economic recovery in focus
According to Hong Leong Investment Bank (HLIB), Press Metal Aluminium Holdings Bhd, with a current smelting capacity of 1.08 million tonnes and an extrusion capacity of 240,000 tonnes per annum, is the largest integrated aluminium producer in Southeast Asia. It is set to achieve double-digit...
China’s aluminium processing industry PMI rebounds above 50% due to momentous gain in demand & production
According to the Shanghai Metals Market, China’s comprehensive Purchasing Manager Index (PMI) for the aluminium processing industry rebounded in September above the 50 mark since May. It recorded a month-on-month surge of 18.1 per cent, driven by the PMIs of aluminium plate/sheet and strip,...
SMM A00 aluminium ingot price declines to RMB20,450/t; Alumina price surges by RMB62/t
On Wednesday, October 9, China’s A00 aluminium ingot price declined by RMB 150 per tonne to settle at RMB 20,450 per tonne, with the spot contract price expected to be traded at a discount price of RMB 60 to RMB 20 per tonne. The average prices are expected to range between RMB 20,430 per tonne and...
China market resumes with a bullish trend, marking an alumina price surge of RMB16/t
According to the Shanghai Metals Market, China’s domestic alumina market has resumed after a week-long National Day holiday with a price surge of RMB 16 per tonne to stand at RMB 4,108 per tonne as of Tuesday, October 8. With the latest rise, China’s domestic alumina price has recorded a...
Key highlights from the global aluminium industry, September 2024
In September 2024, the global aluminium industry witnessed significant developments across production, sustainability, and market dynamics. Aluminium producers continued to push for greener technologies, as the global primary aluminium producers are focusing on expanding their low-carbon aluminium...
Canada's aluminium and steel tariff surcharge on China to be effective from Oct 22
Canada reconfirms introducing tariff surcharges on aluminium and steel for Chinese enterprises. The tariff will be applicable effective October 22, 2024, on the finalised list of products from China. The confirmation came from Deputy Prime Minister and Minister of Finance Chrystia Freeland, as the...
Upstream Weekly Recap: Canada slaps 25% tariff on selected Chinese aluminium & steel products; Rusal forecasts aluminium market supply-demand gap to close by 2025
This week brought several noteworthy developments in the upstream aluminium sector, spanning bauxite, alumina, and primary aluminium. The Government of Canada introduced a 25 per cent tariff on select Chinese aluminium and steel products while also detailing the enforcement of Section 53 of the...
Shandong Foundry Metal Technology joins ASI as the new Production and Transformation member
Aluminium Stewardship Initiative (ASI) announced the joining of Shandong Foundry Metal Technology Co., Ltd as its new Production and Transformation member. The company specialises in producing high-quality magnesium and aluminium alloys, with expertise in die-casting, extrusion casting, and...
Major EU nations likely to advocate 45% tariff on Chinese EVs despite German opposition
France, Greece, Italy, and Poland are among the major EU nations expected to vote in favour of up to 45 per cent tariffs on imports of Chinese-made electric vehicles (EVs), while Germany is likely to abstain. Despite Germany's concerns over potential retaliatory actions from Beijing, the European...
Canada’s steel & aluminium industry applauds new tariffs imposed on Chinese products
The Government of Canada announced the list of Chinese aluminium and steel products that will be subjected to a 25 per cent tariff, along with details regarding the implementation of Section 53 of the Customs Tariff Act. This move, which follows an earlier decision in August to impose a 100 per...
Xinjiang Technology launches its Phase II aluminium & titanium alloy production project
On September 5, the Phase II project of Haimen District Xinjiang Technology (Jiangsu) Co., Ltd. was officially launched, focusing on aluminium and titanium alloy production. This marked the completion and commencement of operations for a major provincial industrial initiative—China Aerospace...
US includes aluminium solar racking rails into final anti-dumping duty determinations
In the final determinations concerning the anti-dumping and countervailing duty investigations for aluminium extrusion imports, the U.S. Department of Commerce has named fourteen countries that have sold, dumped, and subsidised aluminium extrusions into the United States, violating international...
Rusal expects supply-demand gap to narrow following the market resurgence on Chinese stimulus
On Monday, September 30, at LME week 2024, Rusal expressed its confidence that the ongoing supply-demand gap in the global aluminium market would narrow shortly and reach balance by the end of 2025. This optimism follows a market upturn buoyed by the Chinese stimulus programme, leading to a demand...
China’s aluminium extrusion exports gain M-o-M in August, with India replacing Vietnam as the highest export destination
According to China customs data, the country's aluminium extrusion exports (HS code: 76041010, 76041090, 76042100, 76042910, 76042990) gained month-on-month in August 2024 after facing a significant decline in the previous month. Growing by 9.85 per cent over a month, China's exports stood at...
China-based Yongjie New Materials launches 1A25, the new grade of aluminium alloy
Founded in 2003, China-based Yongjie New Materials Co., Ltd has recently developed a new aluminium alloy brand called the 1A25. The 1A25 aluminium alloy grade produced by the R&D team at Yongjie New Materials has successfully passed the review of the National Non-ferrous Metals Standardization...
SMM alumina price sees growth by RMB 15/t while A00 aluminium ingot price drops by RMB 170/t
According to the Shanghai Metal Market, the price of raw materials like alumina has again surged by RMB 15 per tonne, bringing the average price to RMB 4,058 per tonne. Also, in some regions, the alumina price is high, like in Shanxi, where the price has improved by RMB 25 per tonne to peg at RMB...
Shenhuo New Materials officially begins the trial production of its new energy-power battery materials project
China-based Shenhuo New Materials has successfully launched its new energy-power battery materials project, with an annual output of 60,000 tonnes. After two years of intense preparation and construction, eight production lines have officially entered the full-scale trial production stage....
SMM A00 aluminium ingot price skyrockets by RMB 360/t along with a surge in imported bauxite by US$ 0.03/t
According to the Shanghai Metals Market (SMM) survey, as of 25th September 2024, China’s average A00 aluminium ingot price has skyrocketed by RMB 360 per tonne to reach RMB 20,160 per tonne. This huge increase brings the average price higher W-o-W by RMB 370 per tonne from RMB 19,790 per tonne. The...
