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 primary aluminium inventories continue to fall; A00 aluminium ingot price shows restraint
Primary aluminium inventories in China have recorded further downfall this week ended on May 9 due to limited arrivals and strong demand, found Shanghai Metals Market. This has brought down the stocks to 1.409 million tonnes, down 33,000 tonnes from 1.44 million tonnes on May 5 across eight major...
Environmental upgrading, maintenance and losses kept China’s April alumina output away from SMM’s expectations
China’s production of metallurgical-grade alumina in April failed to meet Shanghai Metals Market expectations despite expanding 0.1 per cent year on year to peg at 5.81 million tonnes, found SMM survey on Wednesday, May 8. Environmental upgrading, maintenance, and losses were some of the factors...
China’s primary aluminium production drops 2% YoY in April
Production of primary aluminium in China stood at 11.52 million tonnes for the first four months of 2019, showed Shanghai Metals Market survey. Production dropped 1.42 per cent year-on-year as capacity in operation remained low after losses triggered a slew of capacity cuts from June 2018 to...
Shanxi Chinalco Huarun to commission 52 electrolytic baths for more aluminium alloy production
According to an update from Shanghai Metals Market, Shanxi Chinalco Huarun is set to commission 52 more electrolytic baths, in a bid to reach to full production of its phase-one aluminium alloy project. As per the report, Shanxi Chinalco Huarun intends to achieve this by mid to late June....
NEVs sales in China during January-March up 109.7% Y-o-Y; Overall sales of cars down 11.3%
According to China Association of Automobile Manufacturers (CAAM), about 298,000 units of new energy vehicles (NEVs) were sold in China in the first three months of 2019, up 109.7 per cent from the same period last year. Out of 298,000 units, pure electric cars accounted for 227,000 units, up 121.4...
A00 aluminium ingot price extends its fall today by RMB30/t
According to Shanghai Metals Market, the price of A00 aluminium ingot extends its drop today, on May 7, by RMB 30 per tonne to RMB 14,050 per tonne. The average prices are expected to range between RMB 14,030 per tonne and RMB 14,070 per tonne. Spot aluminium contract is likely to be traded at a...
Chinese primary aluminium inventory declines 28,000 tonnes during holiday
Social inventories of primary aluminium across eight consumption areas in China, including SHFE warrant, stood at 1.44 million tonnes as of Sunday May 5, Shanghai Metals Market data showed. Primary aluminium stocks declined 28,000 tonnes from Monday, April 29. The chart below indicates the current...
Aluminium billet inventory records growth of some 2,700 tonnes; aluminium alloy price inches down
On more cargo arrivals in China post Labour Day Holiday from May 1 to May 4, stocks of 6063 aluminium billet across five major consumption areas recorded a growth on May 5, found Shanghai Metals Market. The inventories thus, stood at 94,900 tonnes after rising by some 2,700 tonnes from April 25....
Bauxite price in China records a drop today while alumina price rises
According to Shanghai Metals Market, the price of Bauxite(6.0≤Al/Si＜7.0)Shanxi has recorded a fall today, April 30, by RMB 10 per tonne to stand at RMB 540 per tonne. January 1, 2019, was the last time when Bauxite(6.0≤Al/Si＜7.0)Shanxi price had recorded a fall from RMB 570 per tonne to RMB 550 per...
Alumina price marks sixth consecutive growth today; A00 aluminium ingot price also rises on further inventory decline
According to Shanghai Metals Market, the alumina spot price has recorded further rise today, April 29, by RMB 26 per tonne to stand at RMB 2,750 per tonne. The alumina spot price started rising since April 22 and today marks the sixth consecutive growth. So, over the week, the alumina spot price...
A00 aluminium ingot price drops again in China despite alumina price rise
The A00 aluminium ingot price in China has once again dropped today, April 26, despite a rise in the alumina spot price, Shanghai Metals Market found. Followed by a rise to 6-months high, the ingot price has declined by RMB 60 per tonne to clock at RMB 14,170 per tonne, as of today. The average...
High demand for aluminium extrusions continuing to deplete aluminium billet inventories in China
According to Shanghai Metals Market, stocks of 6063 aluminium billet have extended their decline today, on April 25, across five major consumption areas in China. Higher demand for aluminium extrusion still remains a major factor behind these depleted inventories. As of April 25, inventories have...
Retail sales of passenger vehicles up month-on-month in April across China
According to a recent update from Shanghai Metals Market, China’s April retail sales of passenger vehicles increased from a month ago as buyers held off car purchases after the value-added tax cuts took effect. The China Passenger Car Association (CPCA) intimidated on Wednesday that in the first...
Increasing consumption of aluminium extrusions to continue bolstering aluminium billets processing fees
According to Shanghai Metals Market, the processing fees for aluminium billets are likely to remain strong in the medium terms, as the orders for aluminium extrusions have improved in a peak during March-May season. In March, the operating rates across major Chinese aluminium extrusion producers...
Rise in alumina price fails to push up the A00 aluminium ingot price today; other input costs dwindle
According to Shanghai Metals Market, the average alumina spot price has recorded a growth today, April 24, by RMB 10 per tonne to come in at RMB 2,705 per tonne. In the major markets including east, central, north, and south, the alumina price has climbed by RMB 10 per tonne and hovering at RMB...
Rise in alumina spot price and decline in aluminium inventories lead to a sharp growth of A00 aluminium ingot price
According to Shanghai Metals Market, the alumina spot price has recorded a rise over the weekend ended on April 22, by RMB 10 per tonne to come in at RMB 2,675 per tonne. After a continued fall since the beginning of the year, the alumina spot price first rose this year on April 18 from RMB 2,646...
Chinese primary aluminium inventory drops 49,000 tonnes; A00 ingot price records third consecutive rise
Social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, stood at 1.59 million tonnes as of Thursday April 18, Shanghai Metals Market data showed. Inventories declined by about 49,000 tonnes from Thursday April 11. Continued resumption of downstream...
6063 aluminium billet inventories record greater W-o-W decline; aluminium alloy price registers no change
According to Shanghai Metals Market (SMM), 6063 aluminium billet inventories saw a greater decline this week across five major consumption areas in China. As of Thursday, April 18, the inventories fell some 9,800 tonnes from a week ago and came in at 98,600 tonnes, SMM data showed. Higher demand...
