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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Primary aluminium inventories continue to fall W-o-W as consumptions increase due to low ingot price
Shanghai Metals Market found social inventories of primary aluminium in China fell over the week ended on September 19, as some regions saw more outflows. SMM data shows the stocks across eight major consumption areas in China, including SHFE warrants, decreased by 6,000 tonnes from 972,000 tonnes...
China’s secondary aluminium operating rate increased in August as downstream plants began restocking
Shanghai Metals Market found secondary aluminium producers continued to increase their operations in August as downstream plants in north China restocked in advance on worries about environmental curbs before the Nation Day on October 1. Data shows that the operating rates in August increased to...
A00 aluminium ingot price records a slight rise today after two significant declines; Input costs remain restrained
After the two significant declines by RMB 150 per tonne and RMB 70 per tonne on September 16 and September 17, the A00 aluminium ingot price has recorded a slight rise today, on September 18, by RMB 10 per tonne to stand at RMB 14,340 per tonne, found Shanghai Metals Market. The average prices are...
Primary aluminium inventories grow by 6,000 tonnes after three weeks of decline
According to Shanghai Metals Market, the social inventories of primary aluminium in China have increased over the weekend as stocks across eight major consumption areas, including SHFE warrants, have grown by 6,000 tonnes from Thursday, September 12. The inventories are thus standing at 978,000...
With dollar's decline, LME aluminium regained some losses during Friday night; SHFE opens today after the holidays
The US dollar index extended its decline on Friday, after briefly hitting a high of 99.109 on Thursday. The European Central Bank on Thursday cut its deposit interest rate by 10 basis points to a record low of minus 0.5%. LME base metals rose on Friday and aluminium advanced 1.1%. The SHFE closed...
Week-long alumina price restraint ends with a growth of RMB22/t; A00 aluminium ingot price declines significantly
After remaining restrained at RMB 2,547 per tonne from September 6-12, the average spot price of alumina has recorded a growth of RMB 22 per tonne today, on September 16, to stand at RMB 2,569 per tonne, found Shanghai Metals Market. Witnessing the highest rise the alumina spot price in the north...
A00 aluminium ingot prices continued higher this week; Alumina prices remain unchanged
The price of A00 aluminium ingot witnessed an upward movement, except Monday, over the week. Ingot price started the week with a decline of RMB 30 per tonne from September 6 to RMB 14390 per tonne on Monday, September 9. A00 aluminium ingot price ended RMB 80 per tonne higher at RMB 14550 per tonne...
Primary aluminium inventories further decline by 34,000 tonnes week-on-week
According to Shanghai Metals Market, the social inventories of primary aluminium have again plunged this week ended on Thursday, September 12, as some regions have seen greater deliveries. SMM data shows the stocks across eight major consumption areas, including SHFE warrants, have decreased by...
A00 aluminium ingot price grows by RMB80/t and price of alloy (ADC12) by RMB50/t on limited supplies
According to Shanghai Metals Market, the A00 aluminium ingot price has further expanded its rise for the third day in a row by RMB 80 per tonne to RMB 14,550 per tonne, as of September 12. The average prices are expected to range between RMB 14,530 per tonne and RMB 14,570 per tonne, with spot...
China’s primary aluminium production in August declines by 3.48% Y-o-Y and 1.96% M-o-M
According to Shanghai Metals Market, China’s primary aluminium production in August came in at 3.01 million tonnes after declining 3.48 per cent year-on-year and 1.96 per cent month-on-month. This year-on-year and month-on-drop in domestic production could be attributed to the accidents in some...
China’s daily average alumina production in August drops by 4,000 tonnes M-o-M
Shanghai Metals Market found the alumina output in China stood at 5.82 million tonnes in August, with metallurgical-grade alumina accounting for 5.57 million tonnes. Daily average production of metallurgical-grade alumina came in at 180,000 tonnes in August, down 4,000 tonnes or 2.2 per cent...
A00 aluminium ingot price grows by RMB30/t on limited stocks in the market; Input costs remain unchanged
Followed by the decline in social inventories of primary aluminium by 14,000 tonnes, the average price of A00 aluminium ingot has recorded a growth of RMB 30 per tonne to RMB 14,420 per tonne on September 10, found Shanghai Metals Market. Primary aluminium stocks in Gongyi, Henan arrived limited...
Primary aluminium inventories in China continue to fall over the weekend by 14,000 tonnes
According to Shanghai Metals Market, the social inventories of primary aluminium have extended decline over the weekend ended on September 9, as stocks in Gongyi, Henan have recorded a drop due to fewer arrivals. SMM data showed that the inventories across eight major Chinese consumption areas,...
Alumina price rise and low primary aluminium inventories bolster A00 aluminium ingot price growth today
According to Shanghai Metals Market, the average spot price of alumina has extended its rise today, on September 6, by RMB 5 per tonne to stand at RMB 2,547 per tonne. In the central and south, the price has grown by RMB 10 per tonne to RMB 2,550 per tonne and RMB 2,505 per tonne, while that in the...
Primary aluminium inventories extend decline for second straight week due to greater deliveries
According to Shanghai Metals Market, the social inventories of primary aluminium have extended decline over the week ended on Thursday, September 5. SMM data shows the stocks across eight major consumption areas in China, including SHFE warrants, decreased by 27,000 tonnes for the second straight...
Average alumina price grows by RMB5/t and A00 aluminium ingot price by RMB10/t
After gliding down through July and remain restrained until the mid of August, the average alumina spot price started spurring significantly and reached RMB 2,533 per tonne, as of Wednesday, September 4, found Shanghai Metals Market. Month-on-month, the alumina price is standing high by RMB 91 per...
Weiqiao further cuts its prebaked anode price for September; A00 aluminium ingot price rises by RMB20/t
Shanghai Metals Market reveals that Shandong Weiqiao Group, one of the top aluminium producers in China, has reduced the benchmark purchasing price of prebaked anode for the third month in a row. For September 2019, the company has lowered the benchmark purchasing price by RMB 70 per tonne to RMB...
China’s exports of aluminium extrusions, bars and rods rose 2.75% month-on-month in July
According to Shanghai Metals Market based on the latest customs data, China’s exports of aluminium extrusions, bars and rods came in at 90,500 tonnes in July, up 2.75 per cent from 88,100 tonnes in June 2019 and 88,357 tonnes in July 2018. Depreciation in Chinese currency and healthy demand for...
