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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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...
China’s primary aluminium inventories drop on limited arrivals; A00 aluminium ingot price extends growth by RMB80/t
According to Shanghai Metals Market, social inventories of primary aluminium across eight major consumption areas in China, including SHFE warrants, stood at 916,000 tonnes as of Thursday, 17 October 2019, down 61,000 tonnes from a week ago. Primary aluminium inventories dropped significantly this...
Chinese secondary aluminium operating rates continued to grow in September 2019
Shanghai Metals Market found that Chinese secondary aluminium producers, primarily in northern Chinese provinces, such as Hebei, Shandong and Henan, continued to ramp up operation in September for fulfilling orders in advance as they were required to close for up to 10 days around the National Day...
Weak demand for primary aluminium in China continues to result in A00 aluminium ingot price fall
The A00 aluminium ingot price has further shrunk by RMB 30 per tonne to come as low as RMB 13,770 per tonne, as of October 15, found Shanghai Metals Market. This marks the fourth consecutive fall since October 10, representing the lowest price in the last two months. During the same period in...
Primary aluminium inventories in China resume a downward trend; Stocks are at 945,000 tonnes
According to Shanghai Metals Market, the social inventories of primary aluminium have resumed a downward trend over the weekend ended on Monday, October 14, followed by an increase in the first week after the National Day holiday. As per the data, the inventories across eight major consumption...
A00 aluminium ingot price extends decline in China due to poor purchase and increasing stocks
According to Shanghai Metals Market, the A00 aluminium ingot price has further declined in China by RMB 30 per tonne to stand at RMB 13,970 per tonne, as of October 11. This marks the second consecutive drop this week, bringing the A00 aluminium ingot price lower by RMB 500 per tonne from a month...
Primary aluminium inventories continue to rise by 8,000 tonnes in China on greater cargo arrival
Shanghai Metals Market found the social inventories of primary aluminium extended its rise across eight major consumption areas, including SHFE warrants, by 8,000 tonnes from Tuesday, October 8, to come in at 977,000 tonnes on Thursday, October 10. According to SMM, increase in cargo arrivals is...
SMM data shows primary aluminium inventory expands in China after National Day holiday
As shown by data from Shanghai Metals Market, social inventories of primary aluminium in China expanded over the week after the National Day holiday. As trading was closed because of the holidays and cargoes arrived in the warehouses, it led to an increase in stocks stemming several weeks of...
Primary aluminium inventories in China extend declines by 45,000 tonnes
Primary aluminium inventories in China extended their declines over the weekend as downstream consumers stockpiled for the week-long National Day holiday. Shanghai Metals Market data showed that social inventories of primary aluminium across eight consumption areas in China, including SHFE...
A00 aluminium ingot price declines by RMB50/t for the fourth day in a row; Alloy (A356) price also continues to fall
According to Shanghai Metals Market, the A00 aluminium ingot price has recorded the fourth drop in a row by RMB 50 per tonne to stand at RMB 13,980 per tonne, as of September 30. With this continued plunge, the A00 aluminium ingot price stands lower by RMB 310 per tonne from the same period last...
China saw M-o-M dip in unwrought aluminium and aluminium products exports in August
According to Shanghai Metals Market calculations based on Customs data, China’s exports of unwrought aluminium and aluminium products in August dropped by 4.31 per cent month-on-month to come in at 466,000 tonnes. August saw a high ratio of SHFE aluminium price to its LME counterpart, which...
China’s primary aluminium inventory declines on pre-holiday stockpiling
Primary aluminium inventories in China fell for a fifth consecutive week, as downstream consumers stockpiled for the week-long National Day holiday. Shanghai Metals Market data showed that stocks of primary aluminium across eight consumption areas in China, including SHFE warrants, dropped 27,000...
Aluminium billet inventories record a marginal drop of 700 tonnes after four consecutive weeks of rising
According to Shanghai Metals Market, the inventories of aluminium billet in China have recorded a fall this week after straight four weeks of increase. Data shows the stocks of 6063 aluminium billet across five major consumption areas are standing at 112,400 tonnes after declining by 700 tonnes, as...
A00 aluminium ingot price extends decline by RMB90/t resulting in aluminium alloy (A356) price drop
Extending the decline by RMB 90 per tonne on Thursday, September 26, the A00 aluminium ingot price has come in at RMB 14,190 per tonne, found Shanghai Metals Market. This marks the second decline in a row after three consecutive rises until Tuesday, September 24. The average prices are expected to...
A00 aluminium ingot price continues to rise on low stocks; Input costs remain restrained
Back on the continued decline in social inventories of primary aluminium, the price of A00 aluminium ingot has extended its rise today, September 24, by RMB 10 per tonne to stand at RMB 14,320 per tonne, found Shanghai Metals Market. This marks the third consecutive growth in the aluminium ingot...
China’s inventories of primary aluminium extend decline over weekend on greater deliveries
According to Shanghai Metals Market, primary aluminium inventories continued to decline over the weekend, as deliveries exceeded arrivals. Stocks of primary aluminium across eight consumption areas in China, including SHFE warrants, stood at 957,000 tonnes as of Monday September 23, down 9,000...
Weekly update: LME traded within a close range over the week; SHFE came off from last week's highs
The US dollar rebounded against a basket of currencies on the first day of the week and then fell on Tuesday ahead of an expected US interest rate cut from the Federal Reserve. Though it registered a gain mid-week, the greenback ended the week lower. LME base metals started the week slightly higher...
Increase in average alumina price, low inventories result in A00 aluminium ingot price rise today
According to Shanghai Metals Market, the average spot price of alumina has extended its rise today, September 20, by RMB 13 per tonne to stand at RMB 2,592 per tonne to conclude the week with another price hike. This marks the two consecutive rises in alumina spot price after two days of restraints...
