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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Aluminum Association praises Canada for mirroring the US 25% tariff on Chinese aluminium
Following the news on the Canadian Government’s plan to imitate the United States tariffs on Chinese aluminium, steel, and electric vehicles, the Aluminum Association released a statement applauding and welcoming a 25 per cent additional tariff on certain aluminium and aluminium products imported...
Huawei Technologies & Shenyang Institute team up to enhance electrolytic aluminium production with AI solutions
The Shenyang Institute held an exchange meeting with the Mining Corps and Lianchuang Centre of Huawei Technologies Co., Ltd on the 5th of August, 2024. Technical experts from both organisations discussed Chinalco Group's AI application scenario, "Intelligent Decision-Making System for Electrolytic...
China’s A00 aluminium ingot price holds steady at RMB 19,740/t, amid recent alumina price hike by RMB 9/t
According to the Shanghai Metal Market, after several days of no movement, alumina prices have finally surged by RMB 9 per tonne, reaching RMB 3,916 per tonne. In key regions like Henan, Shanxi, Guizhou, and Guangxi, the increase is even higher, with prices up by RMB 10 per tonne. This rise follows...
Canada government mulls over replicating US tariff plans on Chinese aluminium, steel and EVs
According to a recent report, the Canadian government is contemplating replicating the United States tariff plans on electric vehicles, aluminium, and steel imported from China. The news came on August 26 after the Toronto Star, a Canadian English-language broadsheet daily newspaper, reported about...
Guangyuan Economic Development Zone partners with Deyang Tianhe for aluminium alloy auto parts manufacturing project
The management council of Guangyuan Economic Development Zone recently concluded an investing agreement with Deyang Tianhe Machinery Manufacturing Co., Ltd. for a new production project. The new project will be centred on manufacturing aluminium alloy auto parts with a targeted annual output of...
China’s A00 aluminium ingot price stands at a M-o-M high, soaring by RMB540/t: SMM
According to the Shanghai Metals Market, A00 aluminium ingot price in China has initiated the week of August 26 with an increase of RMB 40 per tonne to stand at RMB 19,740 per tonne. The price has marked a week-on-week hike of RMB 280 per tonne from RMB 19,460 per tonne and a month-on-month surge...
LME aluminium price closes the week with a growth of US$28/t; SHFE price moves up by US$3/t
LME aluminium opened at US$2,475 per tonne, with a high of US$2,547.5 per tonne and a low of US$2,473.5 per tonne, closing at US$2,533.5 per tonne, up US$67 per tonne or 2.72 per cent. On Friday, August 23, both LME aluminium cash bid price and LME aluminium official settlement price gained US$28.5...
Foreign investment in China falls to the lowest level in 30 years
Foreign direct investment (FDI) in China has declined to its lowest level in three decades, according to official data released by the State Administration of Foreign Exchange in February 2024. The sharp decline highlights growing concerns among foreign corporations over China's increasingly...
Upstream Weekly Recap: Aluminium market reacts to raw materials shortage in China with heightened price
The upstream sector of the global aluminium industry witnessed some important events this week. To begin with, LME aluminium price hit a 5-week high fuelled by the alumina shortage in China coupled with the weakening dollar that spurred fund buying. The price closed at US$2,435 per tonne after...
China's A00 aluminium ingot prices experience M-O-M surge by RMB 410/t, balancing the market condition
On 23rd August, according to the Shanghai Metal Market (SMM), China’s A00 aluminium ingot market seemed stable compared to the previous few days. Today, the average aluminium ingot price has experienced a very slight increase by RMB 10 per tonne after a huge surge in price for the entire week,...
LME aluminium benchmark price hikes by US$28/t; SHFE price grows to US$2784/t
Overnight, LME 3M aluminium opened at US$2,482 per tonne, hit a high of US$2,531 per tonne, a low of US$2,466 per tonne, and closed at US$2,466.5 per tonne, down US$14.5 per tonne or 0.58 per cent. On Thursday, August 22, both LME aluminium cash bid price and LME aluminium official settlement price...
Xiangtou Light Materials’ new project to boost aluminium ceramic disc brake production in Changsha
Hunan Xiangtou Light Materials Technology Co., Ltd (also known as Xiangtou Light Materials) has announced establishing a new production line in Changsha. With a total investment of around RMB 43.8228 million and an annual output capacity of 200,000 pieces of aluminium ceramic brake discs for...
Bay of Quinte MP urges tariffs on Chinese EVs to shield North American auto and aluminium industries
As part of a bold move to protect local jobs and the North American auto industry, Ryan Williams, MP for the Bay of Quinte, Canada, will reportedly submit a motion in Parliament on August 21, 2024, questioning the Federal Government's stance on tariffs for electric vehicles imported from China. In...
China’s A00 aluminium ingot price shows a W-o-W surge of RMB 680/t, raw materials prices remain stable
The SMM aluminium market has witnessed an increase in prices today, with the A00 aluminium ingot price soaring by RMB 100 per tonne to rest at RMB 19,690 per tonne, with the average prices ranging between RMB 19,670 per tonne and RMB 19,710 per tonne. This week seems optimistic in comparison with...
LME aluminium benchmark price adds US$8/t to US$2443/t; SHFE price drops by US$11/t
Overnight, LME 3M aluminium opened at US$2,482.5 per tonne, with a high of US$2,495 per tonne, a low of US$2,452.5 per tonne, and closed at US$2,479 per tonne, down US$23 per tonne or 0.92 per cent. On Wednesday, August 21, both LME aluminium cash bid price and LME aluminium official settlement...
Thailand initiates anti-dumping probe into aluminium extrusions import from China
Thailand’s Foreign Trade Department has launched an anti-dumping investigation into the import of aluminium extrusions from China. This action comes in response to complaints from domestic steel manufacturers who argue that the increasing volume of imports is affecting local production. Ministry to...
Baotou Aluminum installs the first wind turbine of renewable energy power plant project in Damaoqi, Inner Mongolia
Baotou Aluminum (Group) Co., Ltd., a first-class large enterprise in China with ten aluminium smelting enterprises, has reportedly installed the first wind turbine of self-owned power plant, which replaced the 1200 MW new energy project in Damaoqi with renewable energy. This action is in line with...
China’s liquid metal transfers up 2% in August, indicating recovery in the aluminium sector
The world's largest aluminium producer, China's use of liquid metal transfers slowed in June and July 2024 but picked up again in August. Following a strong period in the previous three months, the use of liquid metal transfers as a means of moving metal into the market dropped by around 2 per cent...
