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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China’s A00 aluminium ingot price hits a 5-week high on SMM owing to tight raw material supply
According to the Shanghai Metals Market (SMM) survey, as of August 21, 2024, China's domestic A00 aluminium ingot price has continued to increase by RMB 100 per tonne to officially close at RMB 19,590 per tonne . China's domestic A00 aluminium ingot price has risen for the fifth consecutive day in...
China’s July primary aluminium imports grow 7% M-o-M, but net imports drop due to increased exports
According to the General Administration of Customs, China’s primary aluminium imports in July 2024 recorded a month-on-month rise of 7.2 per cent and a year-on-year increase of 11.4 per cent. With the latest hike, China’s primary aluminium imports in July reached 129,900 tonnes, bringing the...
Supercar enthusiasts rejoice: BYD’s YANGWANG U9 to begin deliveries featuring advanced material technology
The China-based world's largest EV maker, BYD, marked a significant milestone as the first customer delivery of its YANGWANG U9 electric supercar rolled off the production line. The company announced that deliveries of the U9 will commence shortly, setting a new benchmark in automotive production...
LME aluminium price hits 5-week high fuelled by alumina shortage in China; SHFE price gains US$28/t
Overnight, LME 3M aluminium opened at US$2,430 per tonne, with a high of US$2,506 per tonne and a low of US$2,418 per tonne, closing at US$2,476 per tonne, up US$30.5 per tonne or 1.25 per cent. On Tuesday, August 20, both the LME aluminium cash bid price and LME aluminium official settlement price...
World primary aluminium production reaches a new high in July’24, registering an annual growth of 2.4%
The world’s primary aluminium production increased in July 2024, driven by robust output across all the major primary metal-producing regions. On a month-on-month basis, the world’s primary aluminium production in July registered an increase of 3.54 per cent, while that on an annual calculation...
China's A00 Aluminium ingot market remains fairly stable M-O-M, with an increase of RMB 30/t today
On August 20th, 2024, the A00 aluminium ingot price in China, as reported by the Shanghai Metal Market (SMM), increased by RMB 30 per tonne, following a significant increase the day before. The price settled at RMB 19,490 per tonne, bringing the month-on-month price to the same level of RMB 19,490...
LME aluminium price skyrockets by US$76/t driven by positive US economic data; SHFE price expands by US$49/t
Overnight, LME 3M aluminium opened at US$2,367 per tonne, reached a high of US$2,449.5 per tonne and a low of US$2,365 per tonne, and closed at US$2,430 per tonne, up US$64.5 per tonne, or 2.73 per cent. On Monday, August 19, both LME aluminium cash bid price and LME aluminium official settlement...
China’s A00 aluminium ingot price registers a W-o-W hike of RMB470/t on improved downstream operations
According to Shanghai Metal Market (SMM) survey, China’s A00 aluminium ingot market has initiated the week with a price surge of RMB 230 per tonne to register at RMB 19,460 per tonne. On a week-on-week basis, the price has escalated by RMB470 per tonne, while that on a month-on-month calculation...
LME aluminium price stands 1.35% W-o-W high despite losing $7.5/t; SHFE price touches the US$2700/t level
On Friday, August 16, the 3-month LME aluminium contract price opened at US$2,358.50 per tonne, with a high of US$2,374 per tonne and a low of US$2,338.50 per tonne, closing at US$2,368 per tonne, up US$12 per tonne. LME aluminium cash bid price and LME aluminium official settlement price suffered...
China’s unwrought aluminium and aluminium product imports grow 11.1% Y-o-Y in July 2024
According to China Customs data, China’s unwrought aluminium and aluminium product imports saw a substantial increase of 11.1 per cent year-on-year in July 2024 to stand at 260,000 tonnes. The total imports, including primary metal, unwrought, and alloyed aluminium, in the first seven months of the...
China's factory output growth cools in July, raising concerns over domestic demand
China's economic momentum slowed in July as factory output growth eased to 5.1 per cent year-on-year, down from June's 5.3 per cent pace. This signalled tepid domestic demand and added to calls for additional policy support to sustain the country's uneven recovery. The National Bureau of Statistics...
Shenhuo Group's new research institute focuses on low-carbon aluminium production
On August 6, Shenhuo Group officially inaugurated its Innovation and Development Research Institute and Renewable Energy Research Institute. These institutes will concentrate on advancing and utilising renewable energy, producing electrolytic aluminium in an efficient and low-carbon manner,...
Inner Mongolia North Aluminum begins trial production for its much-awaited RMB 1.5 billion project
Inner Mongolia North Aluminum’s high-end aluminium plate and foil project with an annual capacity of 200,000-tonnes has finally entered the trail production phase. The project commenced construction in March 2023 and has successfully completed all pre-construction tasks. Inner Mongolia North...
China’s A00 aluminium price surges by RMB 220/t today amidst the ongoing M-o-M downtrend
The latest data from the Shanghai Metal Market (SMM) shows a mixed performance in the aluminium market, with the price of A00 aluminium ingot seeing a significant increase today. As of August 16, the price of A00 aluminium ingot has skyrocketed by RMB 220 per tonne, or 1.15 per cent, from the...
China’s primary aluminium production hits 20-year high, thanks to rising profitability for smelters
According to the National Bureau of Statistics (NBS), China's primary aluminium production in July 2024 hit a more than two-decade high, with producers ramping up operations, particularly in Yunnan. China, the world's biggest aluminium producing country, churned out 3.68 million tonnes of primary...
LME aluminium benchmark price moves up by US$2/t; SHFE price hikes to US$2,678/t
On Thursday, LME 3M aluminium opened at US$2,325 per tonne, with a high of US$2,370 per tonne, a low of US$2,321.5 per tonne, and closed at US$2,356 per tonne, up US$29 per tonne, an increase of 1.25 per cent. On Thursday, August 15, both LME aluminium cash bid price and LME aluminium official...
China’s A00 aluminium ingot price restores RMB19000/t level; aluminium alloy prices gain RMB50/t
According to the Shanghai Metals Market survey, China’s domestic A00 aluminium ingot price has increased by RMB 60 per tonne to exceed RMB 19,000 per tonne. On Thursday, August 15, China’s domestic primary aluminium ingot price has clocked at RMB 19,010 per tonne, marking a week-on-week rise of RMB...
Focus China: Navigating price drop & demand challenges
The first half of 2024 witnessed significant developments in the Chinese aluminium industry, reflecting a blend of challenges, strategic shifts and growth. As a result, China's economic condition also witnessed significant changes during the H1 2024, owing to reasons like the demand production gap,...
