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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Aluminium price rise though surprising has little long-term significance
The London Metal Exchange (LME) aluminium price has risen from the low $1,400s per metric ton in October to the mid $1,550s last week. At the same time, the Japanese have started settling first quarter 2016 physical delivery premiums at $110 per mt, 22% higher than the previous quarter, the first...
Aluminium market rises on short covering, open interest drops 10.43%
Aluminium settled up 0.15% at 100.70 as other metals rallied also support seen after the update that China's aluminium smelters have pledged to shut more production this month and not to add any new capacity in 2016, but market participants say this would do little to dent global overcapacity that...
China alumina imports down 33.6% MoM in November
China imported 386,000 mt of alumina in November, down 33.6% MoM, customs data showed. Three factors led to the decline. First, imported alumina enjoyed no price advantage over domestic alumina. FOB price of Australian alumina was USD 203/mt in late December, which is equivalent to over RMB...
China aluminium stocks fall for six consecutive weeks
Production cuts and improving demand have allowed aluminium stocks in China’s five major trading markets to fall for six consecutive weeks, SMM learns. It should be noted, though, that aluminium stocks in major trading markets are likely to fall at a slower pace in the future, SMM aluminium analyst...
Aluminium prices to shine among base metals this week
Aluminium prices, both on the SHFE and LME, will continue gathering strength this week, as market will continue digesting positive news from China. Aluminium stocks in China’s major trading markets have been falling for six weeks in a row and destocking accelerated with expanding production cuts....
Production cuts accelerate destocking in China aluminium market
Aluminium stocks in China’s five major trading markets have been falling for four weeks in a row as smelters cut production as counter measures to aluminium prices that have hit multi-year lows. Smelters that used to ship aluminium ingots to major consumption hubs have ramped up shipment to regions...
Primary aluminium market records deficit during Jan - Oct 2015
The latest report published by the World Bureau of Metal Statistics (WBMS) indicates that global primary aluminium market has recorded a deficit during the initial ten months of the year. As per the report, the market reported a deficit of 279,000 tons when matched with the deficit of 589,000...
China aluminium stockpiling likely to be funded by commercial loans
Some large aluminium smelters in China are likely to participate in a commercial stockpiling programme, which would cut the availability of the metal to support prices and increase cash to producers, industry sources said on Wednesday. An executive at a medium-sized aluminium smelter said the...
43% of Chinese smelters bullish toward aluminium prices this week, SMM Survey
43% of the 42 Chinese aluminium smelters surveyed by SMM are bullish toward this week’s aluminium prices. Another 33% expect prices to stabilize, while the rest 24% paint a gloomy picture. The optimists expect LME aluminium to rise above USD 1,500/mt and SHFE 1602 aluminium to climb above RMB...
China aluminium smelters vow to cut capacity by 500,000 T by year-end
China's top aluminium smelters will reduce capacity by 500,000 tonnes by year-end, taking total capacity cuts for 2015 to just under 5 million tonnes in a bid to whittle down a domestic supply glut, a major trade association said on Friday, December 11. In a statement following a meeting of 14...
Base metals decouple in china, with aluminium dominating the market
The value of the US dollar has been dropping since February 2015. In October-November period it hit the lowest against the Euro before making a turnaround last week. Indices that compare the dollar against a basket of major currencies have reflected the same trend. Metal prices typically follow an...
Aluminium down on caution over output cuts, firm dollar
Aluminium fell on Thursday on disappointment over the scope of production cutbacks in China while a firmer dollar also weighed on the industrial metals market. Chinese aluminium producers look to combat a slump in local prices to record lows; but analysts said much more was needed to curb an over...
Aluminium glut piling up at hidden Asian warehouses
Falling official inventories of aluminium are offering a deceptive picture of stronger fundamentals, while unreported stocks are surging to record highs, threatening to weigh on already hard-hit prices. The build-up of inventories is off the radar of many investors since most are in unregistered...
China aluminium stockpiling on the table, SMM learns
Aluminium prices in China got an immediate boost on Wednesday as news on aluminium ingot stockpiling has been confirmed. SMM has learned that aluminium ingot stockpiling is in the cards, although who and how much to stockpile remains in the air. Major Chinese aluminium smelters have gathered...
Aluminium MMI falls, battered by the almighty dollar
The December Aluminium MMI index fell 3% to 70 points, yet another all-time low. Aluminium prices fell in November, although they held much better than other base metals. Still, three-month alumiinum on the London Metal Exchange hit a new low at $1,432/mt. As with the rest of the base metals...
Aluminium stocks in major Chinese markets fall for three consecutive weeks
Aluminium stocks in China’s five major trading markets fell for three weeks in a row as of December 3 as production cuts begin yielding fruit, SMM understands. Smelters that used to ship aluminium ingots to major consumption hubs now prefer to ship goods to regions where aluminium capacity was cut...
SMM Survey: 32% of Chinese smelters bullish toward aluminium prices this week
Almost 32% of the 38 Chinese aluminium smelters surveyed by SMM are bullish toward this week’s aluminium prices. Another 52% expect prices to stabilize, while the rest 16% paint a gloomy picture. The optimists expect LME aluminium to return above USD 1,525/mt and SHFE 1602 aluminium to rise above...
Beijing mulls bailout for aluminium industry
China's state stockpiler is considering buying more than 1.0 million tonnes of aluminium from local smelters, sources said, an initial sign that Beijing could agree to the first major bailout in its embattled metals industry since 2009. News that the central government might scoop up a sizeable...
