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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A00 ingot prices up on restocking ahead of Chinese New Year holiday; inventory down from last week
China’s social inventory of primary aluminium including SHFE warrants stood at 1.77 million tonnes on Thursday January 25, down 19,000 tonnes from a week ago, SMM data showed. This is due to restocking ahead of the Chinese New Year holiday in mid-February. This has moved the domestic market lifting...
A00 ingot price in China drops further on growing inventory and slow consumption
Aluminium prices in China are under pressure as Chinese inventory grows on slow consumption. As reported by Shanghai Metals Market, Average A00 ingot price dropped further to stand at RMB 14,440 per tonne today from RMB 14,700 and expected to move within a range of RMB 14,420-14,460. Spot discount...
Spot alumina price may rally before Chinese New Year on good demand from smelters
Spot alumina price in China is struggling to stay afloat in the face of slow demand. Today’s average alumina price stands at RMB 2875 per tonne and expected to move within a range of RMB 2875 – 2875 per tonne today. SMM forecasts alumina prices are likely to rally ahead of the Chinese New Year...
China churned out 36.3 million tonnes of aluminium in 2017, up 14.4% YoY
SMM has published the latest output data from the major Chinese producers of alumina and aluminium along with other base metals and report shows an increase in aluminium production month on month despite the winter capacity cut. SMM observes that despite the supply-side reform and winter cuts last...
A00 ingot prices continue to stay low in China, expected to drop further in short term
Primary aluminium ingot price is on a downward curve in China as the positive vibes in the last week of December is fading away and the market is getting concerned about the climbing inventory and the impact it is going to have on the aluminium prices in the first quarter of 2018. Despite the...
Alumina drops at South China market, prebaked anode on downward trend
Spot Alumina prices have registered mixed momentum in China today. Average spot alumina price in China has registered a small drop to stand at RMB 2854 per tonne today. In the four domestic alumina market, average price stands at RMB 2825 per tonne, registering a slight increase. In South China...
LME aluminium closes the first trading week of 2018 at US$ 2205.5/t; downtrend expected in both LME and SME
After registering some gains at the start of the New Year, LME aluminium is on a downward trend driven by dollar’s uptrend and higher Chinese inventory. The support of the 10-day moving averages became weaker for LME aluminium and Shanghai Metals Market expects the light metal contract to trade at...
US primary and secondary aluminium production remain flat in Q3 2017
According to the latest report from United States Geological Survey (USGS) domestic primary aluminium production in October 2017 was 63,000 tonnes. The average daily production in October was 2,020 tonnes, essentially unchanged from that in September 2017 and slightly more than that in October...
LME aluminium drops on rising dollar; SHFE shows restraint after continuous downtrend
The dollar edged up on Thursday after upbeat U.S. data and supportive minutes from the Federal Reserve’s latest policy meeting helped it shake off recent weakness. After registering some gains at the start of the New Year, LME aluminium is on a downward trend driven by dollar’s uptrend and higher...
A00 ingot prices drop in China driven by falling prebaked anode price and higher inventory
Despite the continuous struggle to move up, China aluminium prices continue to stay low with support of moving averages and driven by higher inventory. Despite the official number stating that China’s aluminium production dropped in November YoY, the inventory continues to climb up. Independent...
LME aluminium dips on Chinese inventory gain and rising US dollar index
After making a strong start to the New Year, LME aluminium fell slightly as US Dollar index consolidated daily gains by rising to 92.25 from the previous mid-91.00s. The dip was also partly driven by the Chinese refined aluminium inventory data which touched record highs in November. The light...
A00 ingot holds ground despite climbing inventories in China; Alumina registers a slight rise
According to Shanghai Metals Market statistics, China’s social inventory of primary aluminium including SHFE warrants climbed further to 1.78 million tonnes as of January 2, up 19,000 tonnes from levels seen on December 28. Current stocks in the major Chinese cities are as follows: Average A00...
LME aluminium starts 2018 on a firm note; but rising Chinese inventory may stunt growth
LME aluminium marks a strong start to 2018. The light metal contract which had ended at US$2,241.5 per tonne on December 29, rose by 0.6 per cent to close at US$2,256 per tonne on Tuesday, January 2. Technical analysis suggests that LME aluminium will trade higher in the range of US$2,250-2,285 per...
China aluminium inventory at 10-year high; A00 ingot prices up in tandem with LME
SHFE aluminium is following the movement of its western counterpart and growing despite the growing inventories in China. According to SMM statistics, offsetting all the efforts of winter capacity cut, China’s social inventory of refined aluminium including SHFE warrants surged to near-10-year high...
LME aluminium to hit yearly high on the last day of trading in 2017
LME aluminium is nearing a stupendous 2017 close. The light metal contract which has been seen rising from the lows of US$1,700 per tonne in the beginning of this calendar year to US$2,175 per tonne in October closed at US$2,246 per tonne yesterday, December 28. The bullish trend is influenced by...
Capacity swap kept aluminium inventory high in China; to put pressure on aluminium price in Q1 2018
One of the reasons China’s total aluminium capacity has not seen a substantial drop despite the winter cut is because China’s smelters are making use of ‘capacity swap quotas’. While announcing winter closure, smelters were directed to close excess/unused capacity or sell it as a quota to others...
LME aluminium opens higher on the first day of post-holiday trading
LME aluminium opened higher on the first day of trading after Christmas Holidays. The global macroeconomics remaining positive, the light metal contract rose by 2.9 per cent from the previous week’s close at US$2,137 per cent to US$2,199 per cent on Wednesday, December 27. Technical analysis...
LME touches US$ 2137/t mark on December 22; SHFE aluminium may be rangebound today as LME is off
LME has registered some substantial growth last week at the start of the holiday season with the benchmark LME prices rising above US$ 2130/t. LME aluminium closed at US$ 2137 per tonne on Friday December 22 registering a growth of 1.4%. Trading was closed on December 25 due to Christmas holiday....
