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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A00 aluminium ingot price increases by RMB120/t while alumina price declines; Aluminium alloy price grows too
The A00 aluminium ingot price has recorded a significant rise today, on November 8, by RMB 120 per tonne to stand at RMB 14,230 per tonne, found Shanghai Metals Market. Compared with the price during the same period last month, the ingot price today is standing higher by RMB 180 per tonne, learned...
Alumina capacity in China to expand by 6.2 million tonnes in 2020, estimates SMM senior aluminium analyst
Liang Xuan, a senior aluminium analyst at Shanghai Metals Market, estimates China’s alumina market to turn into a “tangible surplus” in the fourth quarter of 2019, as the newly started refineries ramp up their domestic production and import arbitrage window opens. As per Liang’s estimation, alumina...
Aluminium billet inventories decline by 3% for the fourth straight week in China
According to Shanghai Metals Market, inventories of aluminium billet in China, on November 7, declined for the fourth straight week, even after downstream consumption slowed down. SMM data showed the stocks of 6063 aluminium billet across five major consumption areas in China inched down 3,800...
China’s primary aluminium inventories decline on limited arrivals; A00 aluminium ingot price stands at RMB 14110/t
As updated by Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, stood at 853,000 tonnes as of Thursday November 7, down by 17,000 tonnes from a week ago on limited arrivals. The current status of primary aluminium...
China aluminium production to significantly grow in 2020: Andy Home at LME Week 2019
Andy Home, a Senior Metals Columnist at Thomson Reuters, said at the SMM London Metal Exchange Week 2019 that China’s aluminium production would likely grow significantly in 2020, indicating a potential jump in exports in anticipation of relatively moderate growth in domestic demand. SMM research...
A00 aluminium ingot price drops by RMB30/t after three consecutive growth; Input costs remain restrained
After the three consecutive rises, the A00 aluminium ingot price has inched down today, on November 6, by RMB 30 per tonne to RMB 14,100 per tonne, marking the first decline this month, found Shanghai Metals Market. The SMM data shows that average prices are expected to range between RMB 14,080 per...
A00 aluminium ingot price extends its growth today on further inventory decline; Aluminium alloy price also rises
On the further fall of primary aluminium inventories by 12,000 tonnes to 858,000 tonnes over the weekend, the price of A00 aluminium ingot has recorded a rise of RMB 60 per tonne to RMB 14,060 per tonne, found Shanghai Metals Market on November 4. This marks the second consecutive growth since the...
MOU signing of SMM and HKEX: Strengthen collaboration in global data market
SMM and Hong Kong Exchanges and Clearing Limited (HKEX) signed a Memorandum of Understanding (MOU) today to establish a long-term collaboration in the commodities business. The MOU signing came after the SMM Metals Seminar, which was held on October 29 during LME Week in London. SMM and HKEX...
Primary aluminium inventories stand at 870,000t after three consecutive W-o-W falls
According to Shanghai Metals Market, the social inventories of primary aluminium, on Thursday, October 31, declined for the third consecutive week, as arrivals remained limited and consumption stayed robust. SMM data showed the primary aluminium stocks across eight major Chinese consumption areas,...
Limited consumption of downstream aluminium curbs billet inventory decline in China
Shanghai Metals Market found the aluminium billet inventories dropped over the week, marking the third consecutive weekly fall, but at a slower pace as consumption weakened. According to the data, the stocks of 6063 aluminium billet shrank 1,900 tonnes to stand at 116,200 tonnes across five major...
Prebaked anode price remains restrained despite Weiqiao’s price cut; A00 aluminium ingot price falls by RMB30/t
According to Shanghai Metals Market, Shandong Weiqiao Group, the top aluminium producer in China continues to reduce the benchmark purchasing price for prebaked anode for the fifth consecutive month by RMB 100 per tonne. This brought the Weiqiao’s prebaked anode purchasing price for November to RMB...
China’s primary aluminium inventories drop by 23,000 tonnes over weekend; A00 aluminium price down RMB 60/t
As updated by Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, stood at 859,000 tonnes as of Monday October 28, down by 23,000 tonnes from Thursday, as consumption remained robust. The current status of primary...
A00 aluminium ingot price records a slight rise further, while input costs remain restrained
According to Shanghai Metals Market, the A00 aluminium ingot price has recorded a growth of RMB 10 per tonne to stand at RMB 14,000 per tonne. This marks the fourth consecutive rise, but the price still stands lower by RMB 30 per tonne, compared with RMB 14,030 per tonne during the same period last...
A00 aluminium ingot price in China remains restrained and so the input costs
Followed by the rise in the last two days, the A00 aluminium ingot price today, on October 25, has decided to end the week with restraint, as found by Shanghai Metals Market. The price has continued to remain at RMB 13,990 per tonne, with average expected prices to range between RMB 13,970 per...
Further decline in primary aluminium inventories by 34,000t lifts A00 aluminium ingot price in China
Social inventories of primary aluminium have further extended decline this week, marking the second consecutive week-on-week fall, found Shanghai Metals Market. Data shows the stocks across eight major consumption areas in China, including SHFE warrants, decreased by 34,000 tonnes from a week ago...
Chinese alumina price declines by RMB19/t after a week-long restraint, A00 aluminium ingot price plunges too
After remaining restrained for the past one week at RMB 2,643 per tonne, the average spot price of alumina has decided to record a movement today, October 22, by falling to RMB 2,624 per tonne, meaning a decline of RMB 19 per tonne, found Shanghai Metals Market. This marks the first drop this month...
A00 aluminium ingot price increases for the third day in a row on decline in output and stock
On the news of China’s primary aluminium output dip by 1.6 per cent from a year ago to 2.9 million tonnes in September, according to the National Bureau of Statistics (NBS), the price of A00 aluminium ingot has recorded a further rise of RMB 40 per tonne to RMB 14,000 tonnes, as on Friday, October...
Rebound in downstream aluminium consumption lowers aluminium billet inventories by 7,600t
Shanghai Metals Market found that 6063 aluminium billet stocks, across five major consumption areas in China, have recorded a decline by 7,600 tonnes to 129,200 tonnes on Thursday, October 17, followed by two consecutive rises after the Chinese National Day holiday. Recovering consumption is one of...
