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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Prebaked anode price declines by RMB130/t after a month-long restraint; A00 aluminium ingot price grows
According to Shanghai Metals Market, the prebaked anode price in the east has recorded a decline of RMB 130 per tonne to RMB 2,850 per tonne on December 2, followed by a month-long restraint at RMB 2,980 per tonne. Even throughout October, the price remained unchanged at RMB 3,030 per tonne until...
Aluminium billet inventories decline for the seventh consecutive week by 8,800 tonnes
Shanghai Metals Market found aluminium billet stocks in the southern markets of China lowered significantly, leading to the further decline in inventories for the seventh consecutive week, as of November 28. Data showed the inventories of 6063 aluminium billet across five major consumption areas in...
Sweeping decline in primary aluminium inventories by 44,000 tonnes boosts up A00 aluminium ingot price marginally
According to Shanghai Metals Market, the inventories of primary aluminium have increased the pace of decline this week and recorded a drop of 44,000 tonnes across eight major Chinese consumption areas, including SHFE warrants, to stand at 755,000 tonnes, as of November 28. On last Thursday, on...
China’s aluminium sheet, plate and strip exports in October dropped by 1.9% M-o-M
According to China Customs data, China’s aluminium sheet, plate and strip exports in October declined by 1.9 per cent from a month earlier to come in at 193,500 tonnes. In September, China’s export amount was 197,100 tonnes after declining by 9.7 per cent from August and 20.2 per cent from the same...
Aluminium alloys (ADC12) price grows by RMB100/t after two days of restraint; A00 aluminium ingot price declines
After two consecutive days of restraint at RMB 14,650 per tonne, the price of the aluminium alloys (ADC12) has recorded a rise of RMB 100 per tonne to stand at RMB 14,750 per tonne on November 26, found Shanghai Metals Market. The average prices are expected to range between RMB 14,650 per tonne...
China’s primary aluminium production to grow 2.5%, while consumption to inch up 0.3% in 2020: Liang Xuan
China’s production of primary aluminium might grow much faster than consumption in 2020, said SMM senior aluminium analyst Liang Xuan at 2019 China Nonferrous Metals Industry Annual Meeting. Xuan also pointed that this could put pressure on aluminium prices in turn in the coming year. Output of...
Primary aluminium inventories in China declined by larger margin this week to 799,000 tonnes
Shanghai Metals Market, on Thursday, November 21, found the social inventories of primary aluminium continued to decline by a larger margin, as stocks in Nanhai and Gongyi fell sharply. Data showed the stocks across eight major consumption areas, including SHFE warrants, decreased by 35,000 tonnes...
Average spot price of alumina continues to drop for the fourth day in a row, leading to A00 aluminium ingot price fall
The average spot price of alumina in China has extended its decline again by RMB 14 per tonne, as on Friday, November 22, to stand at RMB 2,489 per tonne, marking the fourth consecutive fall throughout the week. With these declines, the alumina price today stands down by RMB 135 per tonne or 5.14...
China to exempt Pakistan from unwrought aluminium alloy tariffs from December 1
According to an update from China Nonferrous Metals Industry Association (CMRA) Recycling Metal Branch, China will remove import tariffs on unwrought aluminium alloy from Pakistan from December 1, once the second phase of the Free Trade Agreement (FTA) between the two countries comes into effect....
Alumina spot price continues to fall by RMB20/t, but A00 aluminium ingot price extends growth
Shanghai Metals Market found the average spot price of aluminium has dropped further today, on November 20, by RMB 20 per tonne to stand at RMB 2,518 per tonne. This marks the second consecutive fall in the spot price of alumina after remaining restrained for a week at RMB 2,572 per tonne. Prior to...
Chinese secondary aluminium producers operating rates extended growth in October
Shanghai Metals Market found operations at Chinese secondary aluminium producers continued to increase in October, as overall demand in the second half of the year improved from the first half. An SMM data showed the Chinese secondary aluminium operating rates in October stood at 60.69 per cent...
China’s unwrought aluminium alloy imports in September recorded highest so far
Shanghai Metals Market found China’s imports of unwrought aluminium alloy marked a record high in September totalling at 18,706 tonnes, as demand from Chinese secondary aluminium producers and die-casting plants increased with Beijing throttling down the inflows of aluminium scrap. The imports were...
A00 aluminium ingot price rises by RMB20/t on further decline in primary aluminium inventories
The social inventories of primary aluminium have extended decline over the weekend, as stocks in Nanhai continued to fall, according to Shanghai Metals Market. SMM data showed the stocks across eight major consumption areas, including SHFE warrants, decreased by 11,000 tonnes from 834,000 tonnes on...
Continued W-o-W fall in primary aluminium inventories lifts A00 aluminium ingot price afters three days of decline
The social inventories of primary aluminium have once again recorded a week-on-week decline, as of Thursday, November 14, found Shanghai Metals Market, as stocks in Nanhai continued to fall sharply. SMM data shows the primary aluminium stocks across eight major consumption areas, including SHFE...
China’s primary aluminium production in October declined 3.82% YoY, despite a rise in operation capacity
According to Shanghai Metals Market, the production of primary aluminium in China came in at 2.995 million tonnes in October after declining year-on-year by 3.82 per cent. With this, the total output in the first ten months stood at 29.45 million tonnes, down 2.27 per cent from the same period last...
A00 aluminium ingot and aluminium alloy prices extend decline on slower demands
Despite a decline in social inventories of primary aluminium on Thursday, November 11, the A00 aluminium ingot price has shown no sign of rise but dropped by RMB 190 per tonne to stand at RMB 13,910 per tonne, as of November 12, found Shanghai Metals Market. With this second consecutive downfall,...
China’s primary aluminium inventories extend decline over the weekend
As updated by Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, extended their declines over the weekend and stood at 850,000 tonnes as of Monday November 11. That was down by 3,000 tonnes from 853,000 tonnes on...
China issues third batch of aluminium scrap import quotas for Q4 2019
According to a report from Shanghai Metals Market, China last week issued a fresh batch of metal scrap import quotas for the fourth quarter of 2019, reducing the permissible amount to 13,770 tonnes of newly restricted high-grade aluminium scrap. Together with the previous batches of quotas which...
