LME aluminium price rises to $3,310/t: Can EGA and Alba repairs bring back 2025 levels?
The London Metal Exchange (LME) aluminium price reported improvements across the pricing and contract segments on the September 7 close, recovering from the downward trend reported at the September 4 session . As the repair and operations stabilise at the facilities of Emirates Global Aluminium...
LME aluminium offer price slips to $3,292.5/t as lower exchange stocks point to tighter availability
LME aluminium prices edged lower on September 4 compared with the previous trading day, while aluminium stocks also declined marginally. The most notable movement was in cancelled warrants, which fell by more than 38 per cent day on day. On September 4, the LME aluminium cash bid price stood at USD...
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SHFE aluminium to hover at highs
Falling aluminium stocks in China will allow SHFE 1609 aluminium to stay at highs of RMB 12,500-12,700/mt today. LME aluminium will move at USD 1,645-1,670/mt, with support at the 5-day and 10-day moving averages. In China’s spot aluminium market, spot premiums of RMB 30-70/mt are expected over...
U.S. aluminium net shipments in May up 2.4% YoY
Aluminium net shipments (including exports) by domestic U.S. and Canadian facilities totalled an estimated 1,967 million pounds during May, up 2.4 per cent over the May 2015 total of 1,922 million pounds. Shipments of aluminium mill products decreased six-tenths of one percent from the previous...
CBIX nudges higher (+2.4%), mixed messages from Malaysia
CBIX rose over the week, up 2.4 per cent (US$1.1) to US$46.9/dmt on the back of higher ViU-priced Guinean material, partially offset by lower ViU-adjusted prices from other regions. Malaysian FOB prices continue to hold their ground, quoted at US$25/dmt to US$26/dmt for unwashed material, with...
Aluminium makes a comeback as stocks hit near 5-year low, but the rise unlikely to sustain
SHFE aluminium has made a stunning comeback of late, and the rebound will prove sustainable at least for now as stocks in domestic major markets have unexpectedly hit the lowest in nearly five years, SMM predicts. Source: Reuters As of today, aluminium stocks in China’s five major markets totaled...
US aluminium ingot price rises 2.58% MoM in April
Following recent smelter shutdowns, only two companies in the US reported domestic production of primary aluminium, noted US Geographical Survey in their latest issue of Mineral Industry Surveys. Consequently, beginning in February 2016, monthly production data were withheld to avoid the release of...
When will China aluminium stocks enter turning point? SMM reports
Aluminium stocks in China’s five major markets have been falling steadily, though the pace has slowed down significantly. Market is now most concerned with when stocks will begin growing. Aluminium capacity is being restarted, albeit slowly. Aluminium ingot shipments from northwest China will keep...
Short squeeze to boost SHFE aluminium prices, SMM reports
A potential short squeeze is in sight, and this will bolster SHFE near month aluminium contract prices, most market players contacted by SMM predict. Positions of SHFE 1607 aluminium are 111,144 lots yesterday, which require 277,860 tonnes of aluminium for delivery. However, inventories of...
Aluminium inventory declines in China mask weakening demand, SMM reports
Aluminium stocks in China’s major markets remain in the downward track, but this could not be seen as evidence of stronger demand, SMM noted. In fact, stocks have dropped at a slower pace, as a result of growing shipments from northwest China and weakening consumption, SMM explained. SMM learned...
WBMS: Primary aluminium market records deficit
The World Bureau of Metal Statistics (WBMS) has published the Metals Balances Report for the first four months of the current year. The global primary aluminium recorded marginal deficit during Jan-Apr ’16. The latest report published by the World Bureau of Metal Statistics (WBMS) indicates that...
Japan aluminium stocks rise for first time in 9 months
Aluminium stocks held at three major Japanese ports climbed for the first time in nine months in May due to an increase in imports and softer demand at home. The increase comes as global aluminium producers and Japanese buyers negotiate premiums for July-September primary metal shipments. Japan is...
Worrying signs arise for battered aluminium prices, SMM says
Worrying signs have arisen for aluminum prices, which have retreated from this year’s high of 13,000 yuan/tonne to below 12,000 yuan/tonne, SMM says. China’s aluminium output hit 2.68 million tonnes in May, the highest since November 2015, data from the National Bureau of Statistics (NBS) showed....
45% Chinese aluminium smelters bearish toward aluminium prices this week
SMM surveyed 44 Chinese aluminium smelters about their opinions over aluminium price outlook. About 45 per cent of them expect SHFE 1608 aluminium to fall below RMB 11,800/mt and LME aluminium below USD 1,560/mt. First, the price spread between SHFE 1606 and 1607 aluminium contracts is as big as...
44% Chinese aluminum smelters see aluminum prices fall this week, SMM survey
SMM surveyed 44 Chinese aluminum smelters about their opinions over aluminum price outlook. About 44% of them expect SHFE 1608 aluminum to fall below RMB 11,800/mt and LME aluminum below USD 1,540/mt. First, total positions of all SHFE aluminum contracts surged 34,000 lots on Monday, many of which...
Restarted aluminum capacity far from enough to fill supply gap in China, SMM reports
Aluminum capacity restarts in China will continue increasing, but far from enough to fill in the supply gap caused by massive closures late last year, SMM understands. SMM estimates the amounts of restarted aluminum capacity in China at 400,000-500,000 tonnes during June-July. The amount of new...
Aluminum consumption in China automobile industry to fall in May
Aluminum consumption in China’s automobile industry grew 4.4% year-on-year in April, but is expected to drop slightly in May, cmn.com reported. China’s automobile production and sales used to fall back in May in years past, and this year will be no exception. Car dealers were facing heavy inventory...
45% Chinese aluminum smelters see aluminum prices rise this week, SMM Survey
SMM surveyed 44 Chinese aluminum smelters about their opinions over aluminum price outlook. About 45% of them expect SHFE 1607 aluminum to break through RMB 12,350/mt and LME aluminum rise above USD 1,560/mt. First, new aluminum capacity is commissioned at a slow pace. Smelters with plans to resume...
Tumbling Aluminum Inventories to Put Floor under Aluminum Prices, SMM
Aluminum stocks in China’s major markets fell at a much faster pace, and this will lend support to both SHFE and spot aluminum prices , SMM expects. Limited aluminum capacity restarts will support SHFE 1607 aluminum at the 60-day moving average, with price range at 11,950-12,300 yuan per tonne this...
Detroit aluminium pile that rattled beer makers is vanishing
A mountain of aluminium that upset beer makers and drew the attention of the U.S. Senate is no more. Inventories held in London Metal Exchange-tracked warehouses in Detroit, where most U.S. metal is stored, were as large as 1.6 million metric tons two years ago. Now they’re a fraction of that...
