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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Chinese prebaked anode price rises as Weiqiao hikes anode's monthly purchasing price; Aluminium ingot price dips again
According to Shanghai Metals Market, Shandong Weiqiao Group, one of the top aluminium producers in China, has raised the benchmark purchasing price for prebaked anode for the first time this year by RMB 100 per tonne to RMB 3,095 per tonne in cash for June 2019. In May, the benchmark price had...
A00 aluminium ingot price marks fourth consecutive decline today to RMB14180/t
According to the Shanghai Metals Market, the price of A00 aluminium ingot has extended its fall by RMB 10 per tonne to RMB 14,180 per tonne on May 31, 2019. This marks the fourth consecutive decline since May 28. The average prices are expected to range between RMB 14,160 per tonne and RMB 14,200...
China’s aluminium alloy wheel export drops 9.6% MoM; This trend likely to extend ahead
According to Shanghai Metals Market, China’s aluminium alloy wheel export in April dropped 9.6 per cent month on month. In March 2019, the country’s aluminium alloy wheel export was around 63,642 tonnes, while in the last month it pegged at 70,400 tonnes. On the yearly basis, the export amount is...
Aluminium billet inventories extend downfall on improved downstream consumption
Shanghai Metals Market found aluminium billet inventories to further shrink today, on May 30, by some 1,200 tonnes week-on-week, as lower processing fees buoyed downstream consumption. Last week, on May 23, the billet inventories were at 79,700 tonnes after declining by some 13,900 tonnes from...
Alumina price records decline after more than a month to RMB3119/t; A00 aluminium ingot price extends downfall
According to Shanghai Metals Market, the average spot price of alumina has recorded a dip today, May 29, to RMB 3,119 per tonne, after being remained restraint at RMB 3,163 per tonne from May 23 to May 28. After more than a month, the average alumina spot price has registered a decline. Since April...
China’s primary aluminium stocks drop 64,000 tonnes on limited arrivals
Social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, stood at 1.282 million tonnes as of as of Thursday May 23. Inventories dropped 64,000 tonnes from 1.346 million tonnes on Thursday, May 16, Shanghai Metals Market data showed. The chart below...
6063 aluminium billet inventories further shrink to 79,700 tonnes on lower cargo arrivals
According to Shanghai Metals Market, inventories of 6063 aluminium billet in China continue to shrink over the week on lower cargo arrivals. After decreasing by some 13,900 tonnes today, on May 23, aluminium billet stocks are standing at 79,700 tonnes across five major consumption areas. This...
A00 aluminium ingot price extends decline to RMB14160/t; alumina spot price grows marginally
A00 aluminium ingot price has further declined today, on May 23, to stand at RMB 14,160 per tonne, found Shanghai Metals Market. The ingot price yesterday was at RMB 14,220 per tonne, which means it has dropped by RMB 60 per tonne over a day. Since April 17 the ingot price has been decline and...
Qinghai-based aluminium producer to resume 150,000 tonnes of primary aluminium capacity
According to Shanghai Metals Market, the Qinghai-based aluminium producer Western Hydropower has plans to restart its primary aluminium capacity of 150,000 tonnes, which were closed earlier due to rising production cost and environmental restrictions. Of those 150,000 tonnes of capacity, the...
SMM anticipates secondary aluminium prices in China to remain sluggish ahead
According to Shanghai Metals Market, the secondary aluminium prices are likely to witness a downside trend ahead in China as demand will expectedly weaken. With less than two months to go before the implementation of tougher vehicle emission standards, the auto market will be on its toe to clear...
Chinese secondary aluminium producers operating rates estimated to slow down to 56% in May
Shanghai Metals Market anticipates the Chinese secondary aluminium producers’ operating rates to extend declines to 56 per cent in May, as aluminium purchases are expected to remain low among auto producers due to high inventories. The upcoming stricter national emission standards which will come...
Aluminium billet stocks in China drop 2,900 tonnes on improved consumption
According to Shanghai Metals Market, stocks of 6063 aluminium billet across five major consumption areas in China came in at 93,600 tonnes on Thursday, 16 May 2019. Inventories of aluminium billet dropped some 2,900 tonnes from 96,500 tonnes on Thursday, May 9. Aluminium billet stocks declined in...
Primary aluminium inventories drop to 1.346 million tonnes on higher demand and limited cargoes arrival
Primary aluminium stocks across eight major consumption areas in China, including SHFE warrants, have dropped further on higher demand and limited cargoes arrival, learned Shanghai Metals Market. The premium of spot prices over prices of futures triggered a larger outflow of warrants, which also...
China’s production of primary aluminium registers an increase of 4.1% in Jan-Apr: NBS
As updated by Shanghai Metals Market, China’s production of primary aluminium came in at 11.48 million tonnes in the first four months of 2019. Production increased 4.1 per cent from last year, showed data by the National Bureau of Statistics (NBS) on Wednesday, May 15. In January-March, the...
Chinalco raises alumina floor price for the fourth time to RMB 3050/tonne
According to Shanghai Metals Market, Aluminium Corporation of China (Chinalco) further raised the floor price of non-metallurgical alumina. This is the fourth time since April that Chinalco has increased the floor price of alumina. The further rise brings the price to RMB 3,050 per tonne, which...
Primary aluminium inventories decline 36,000 tonnes over the weekend: SMM
According to Shanghai Metals Market, the primary aluminium inventories in China have continued extending their declines over the weekend ended on May 13, 2019. As demand increased and cargoes arrivals decreased, the social inventories across eight major consumption areas in China, including SHFE...
Chinese alumina price expands by RMB19/t and provides further boost to A00 aluminium ingot price
According to Shanghai Metals Market, the spot price of alumina has recorded further expansion today, May 13, from RMB 2,784 per tonne to RMB 2,803 per tonne. This is the second consecutive growth in alumina spot price after remaining restrained from May 6 to May 9 at RMB 2,778 per tonne. Shanghai...
April operating rates across Chinese aluminium wire, cable producers increases on higher demand
As updated by Shanghai Metals Market, producers of aluminium wire and cable in China saw higher operation rates in April as warmer weather and progressing power projects drove producers in the east and north to step up production. The rate stood at 42.5 per cent in April, up 2 percentage points...
