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...
September peak season destocking supports aluminium prices, macro risks still warrant vigilance
Futures: The most-traded SHFE aluminium contract opened at RMB 24,470 per tonne in the night session on September 8, reached a high of RMB 24,660 per tonne and a low of RMB 24,420 per tonne, and closed at RMB 24,645 per tonne, up RMB 185 per tonne or 0.76 per cent from the previous close. Futures...
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Coronavirus brings in collapse at Chinese aluminium prices: Alumina price declines by RMB2/t, while A00 aluminium ingot price by RMB790/t
After remaining restrained for a day, the average alumina spot price in China is back with a drop of RMB 2 per tonne to RMB 2,566 per tonne, found Shanghai Metals Market. In the east, the price has declined by RMB 10 per tonne to RMB 2,565 per tonne; while in the other parts of China, the price...
Coronavirus outbreak continues to affect Chinese primary aluminium and aluminium alloys prices; Fall by RMB 50-100/t
According to Shanghai Metals Market, the A00 aluminium ingot price has continued to record a decline today, as on March 18. Registering a fall of RMB 80 per tonne, the price today is RMB 12,520 per tonne. The average prices are expected to range between RMB 12,500 per tonne and RMB 12,540 per...
China's alumina price extends drop by RMB5/t on increased demand for imported raw material; A00 aluminium ingot price falls by RMB140/t
According to Shanghai Metals Market, the average alumina spot price in China has extended drop today, March 17, for the second day in a row by RMB 5 per tonne to RMB 2,568 per tonne. In the north, the price has declined by RMB 10 per tonne to RMB 2,575 per tonne, while that in the east, central,...
Inventories of primary aluminium up by 38,000 tonnes over the weekend
Shanghai Metals Market found social inventories of primary aluminium ingots increased 38,000 tonnes over the weekend ended Monday, March 16, across eight major consumption areas, including SHFE warrants. The inventories stood at 1.631 million tonnes in contrast to 1.559 million tonnes on Monday,...
Alumina price in China dips by RMB2/t after week-long restraint; A00 aluminium ingot price rises by RMB90/t
After remaining restrained at RMB 2,575 per tonne last week, the average alumina spot price has recorded a dip today, on March 16, by RMB 2 per tonne to RMB 2,573 per tonne, found Shanghai Metals Market. In the north, the price has decreased by RMB 5 per tonne to RMB 2,585 per tonne, while in the...
Aluminium billet inventories recorded fall on Thursday after three consecutive weeks of rise
According to Shanghai Metals Market report on Thursday, March 12, aluminium billet inventories fell after three consecutive weeks of increase, as the deliveries from warehouses outweighed arrivals. Data showed the stocks of 6063 aluminium billets across five major consumption areas in China shrank...
A00 aluminium ingot price continues to drop for the third consecutive day on further rise in inventories this week
According to Shanghai Metals Market, the A00 aluminium ingot price today, March 13 has dropped for the third consecutive day. As per the data, the price has plunged by RMB 100 per tonne to stand at RMB 12,650 per tonne. The average prices are expected to range between RMB 12,630 per tonne and RMB...
Restraint at A00 aluminium ingot price for a day follows by a plunge of RMB20/t today; Aluminium alloy(A356) drops by RMB50/t
After remaining restrained last day, followed by a significant decline of RMB 240 per tonne, the A00 aluminium ingot price has recorded a plunge yet again of RMB 20 per tonne, as on March 11, according to Shanghai Metals Market. The ingot price, thus, stands at RMB 12,810 per tonne, as of today....
China issues fourth batch of aluminium scrap quotas for 2020 allowing 100 tonnes
China’s environmental authorities on Saturday, March 7, announced the fourth batch of aluminium scrap import quotas for 2020, which would allow 100 more tonnes of high-grade aluminium scrap to China. With this quota, the total aluminium scrap import allowed for this year comes to 284,549 tonnes....
China’s primary aluminium production shrank in February to 2.87 million tonnes: SMM
According to Shanghai Metals Market, the primary aluminium production in China shrank to 2.87 million tonnes in February, but year-on-year it was up by 6.9 per cent. Operating rates were down by 0.2 percentage point from the end of January to 89.3 per cent, as newly-commissioned projects were still...
China’s daily alumina production dropped 0.52% M-o-M in February
China in February 2020 produced 5.4 million tonnes of alumina, of which metallurgical-grade materials accounted for 5.17 million tonnes, according to Shanghai Metals Market. Daily production of metallurgical-grade alumina averaged 178,000 tonnes, 8.19 per cent lesser than February 2019 and 0.52 per...
China’s primary aluminium inventories jumped 103,000 tonnes; A00 aluminium ingot price extends growth by RMB10/t
As updated by Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, came in at 1.488 million tonnes as of Thursday, 5 March 2020, an increase of 103,000 tonnes from February 27. Aluminium inventories increased this week, as...
Chinese aluminium billet inventories record a rise, but slower from last week
According to Shanghai Metals Market, aluminium billet inventories in China have extended their growth this week, although slower from a week ago. Increased shipments from warehouses have been the main reason behind another week of a rise in billet inventories. SMM data shows the stocks of 6063...
Chinese A00 aluminium ingot price grows by RMB50/t, and so the price of aluminium alloys (A356)
According to Shanghai Metals Market, the A00 aluminium ingot price has recorded a hike of RMB 50 per tonne on Thursday, March 5, followed a significant decline of RMB 130 per tonne to RMB 13,010 per tonne. The ingot price today stands at RMB 13,060 per tonne, down by RMB 330 per tonne week-on-week....
Coronavirus Outbreak affects China’s aluminium processing PMI to record low to 34.7 in February
Amidst the outbreak of epidemic Coronavirus, China’s aluminium processing industry recorded a sharp decline in February. The outbreak of the virus kept plants shut until the second half of the month and reduced new orders. The latest Shanghai Metals Market survey showed the composite purchasing...
A00 aluminium ingot price records a growth of RMB90/t after three consecutive declines on continued inventory rise
After the three consecutive declines to RMB 13,050 per tonne, as of March 2, the A00 aluminium ingot price has recorded a rise of RMB 90 per tonne on 3 rd of March to come in at RMB 13,140 per tonne, found Shanghai Metals Market. The average prices are expected to range between RMB 13,120 per tonne...
Alumina spot price in China recorded growth of RMB49/t this week; A00 aluminium ingot price declined by RMB240/t
As the week comes to an end, let’s look back at the status of Chinese aluminium and input costs recorded throughout the week. The average alumina spot price during February 24-28 recorded interrupted growth of RMB 49 per tonne ranging between RMB 2,516 per tonne and RMB 2,565 per tonne, showed...
Chinese primary aluminium inventories trending higher W-o-W amidst weaker demand in compare to production
According to Shanghai Metals Market, the social inventories of primary aluminium in China have continued to trend higher this week, as demand has recovered slowly than expected. The SMM data shows, the inventories have built up by 155,000 tonnes over the week across eight major consumption areas,...
