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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6063 aluminium billet inventories today mark the third week-on-week decline
According to Shanghai Metals Market, 6063 aluminium billet inventories across five major consumption areas in China has a dropped today, on March 28, marking a third week of decline. Upcoming value-added tax cuts drove downstream consumers to purchase aluminium billets, which in turn resulted in...
A00 aluminium ingot price records rise by RMB40/t after three consecutive drops this week
After three consecutive drops, the A00 aluminium ingot price has recorded a growth of RMB 40 per tonne to RMB 13,940 per tonne, Shanghai Metals Market found. This is the first rise of aluminium ingot this week, after which the price has rebounded to what it was a week ago, on March 20. As the first...
China’s aluminium extrusion, bar, rod exports to rebound in March after 63.81% decline last month
China Customs data estimates aluminium extrusion, bar, and rod (under five HS codes) exports by China likely to rebound in March after a sharp drop last month. In February, China’s exports of aluminium extrusion, bar, and rod had reduced to 42,500 tonnes, down 63.81 per cent from the previous month...
Spot aluminium trades in Shanghai drops by RMB70/t from previous day
As updated by Shanghai Metals Market, downstream consumers showed interest in purchasing spot aluminium in the eastern and southern markets in China this morning as prices of aluminium fell. Spot aluminium in Shanghai mostly trade at RMB13,870 per tonne and RMB13,880 per tonne on Wednesday, March...
Chinese spot aluminium premiums show restraint today amidst lowered transactions
Shanghai Metals Market found spot aluminium premiums continuing at the same price today, on March 26, as trades in east China remained muted in the morning. Traders were reluctant in purchasing that primarily accounted for a lacklustre spot aluminium trading. In Shanghai, spot aluminium...
A00 aluminium ingot price records further decline by RMB20/t; Input costs remain same
According to Shanghai Metals Market, the A00 aluminium ingot price has recorded a further decline today, on March 26, to RMB 13,950 per tonne. Yesterday the price was at RMB 13,970 per tonne, which represents that today the price has dropped by RMB 20 per tonne. The average prices are expected to...
Spot aluminium premiums in south China widen against futures prices fall: SMM
Followed by a breakthrough of RMB 300 per tonne last Friday, spot aluminium premiums in south China extended gains today, on March 25, Shanghai Metals Market found. In Shanghai, premiums over the front-month April contract on Shanghai Futures Exchange hovered between RMB 320 per tonne and RMB 340...
Chinese prebaked anode prices to extend decline in April on weaker demand
Shanghai Metals Market found commercial used prebaked anode prices across China to likely extend its decline in April on weaker demand. With sufficient inventories, most aluminium producers had been found purchasing prebaked anode cautiously. Prebaked anode stocks at a large aluminium producer...
Chinese primary aluminium inventory drops as tax cuts improve purchases
As updated by Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, came in at 1.734 million tonnes as of Thursday March 21. Stocks dropped some 20,000 tonnes from Thursday March 14. The chart below indicates the current...
Tax cuts drive aluminium billet processing fees to 3-months high
Shanghai Metals Market found processing fees for aluminium billet in Guangdong climbed to nearly three-months high this week as traders withheld from selling cargoes to await lower value-added tax rates. As on Monday, processing fees for φ90 aluminium billet in Guangdong were offered at more than...
Spot aluminium trades in Shanghai up RMB70/t from previous day
As updated by Shanghai Metals Market, aluminium purchasing enthusiasm among traders and downstream consumers across China’s eastern and southern spot markets substantially improved this morning ahead of value-added tax cuts, resulting in brisk trades across the markets. Spot aluminium in Shanghai...
Chinese spot aluminium premiums further widened this morning; Transactions remained brisk
According to Shanghai Metals Market, spot aluminium premiums in Shanghai further widened this morning, on March 19, ahead of a value-added tax cut from next month. Transactions of spot aluminium in Shanghai were mostly heard at RMB 13,880 per tonne to RMB 13,890 per tonne, up by some RMB 90 per...
A00 aluminium ingot price extends rise across China; Spot premium plunges RMB10/t
The A00 aluminium ingot price continues to grow today, on March 19, to reach RMB 13,870 per tonne, found Shanghai Metals Market. Yesterday, on March 18, the price was at RMB 13,810 per tonne, which represents that it has grown today by RMB 60 per tonne. The average prices are expected to range...
China’s February prebake anode operating rates down 0.99 percentage point MoM; decline to extend in March
Shanghai Metals Market anticipates that operating rates across prebaked anode producers may continue to decline in March as sluggish prices in the market will prevent some plants from recovering after the winter heating season. As of the middle of March, downstream consumption remained poor while...
Anhui province to install 18,000 electric vehicle charging points by 2020: SMM
According to an update from Shanghai Metals Market, China’s eastern province of Anhui has aimed to install over 18,000 electric vehicle charging points by 2020 as part of its clean energy initiatives in transportation, according to release of Action Plan of Promoting the Adjustment of Transport...
Operating rates across Chinese secondary aluminium producers drop record low in February
According to Shanghai Metals Market, operating rates across Chinese secondary aluminium producers dropped to a record low in February. The Chinese New Year holiday and poor end-market demand were the two main reasons for the decline, as suggested by SMM. Even in January, China’s secondary aluminium...
Chinese primary aluminium inventories rise on new stocks arrivals in Guangdong
According to Shanghai Metals Market, social inventories of primary aluminium across eight major consumption areas in China, including SHFE warrants, rose 1,000 tonnes over the weekend ended on March 18 to come in at 1.755 million tonnes. New arrivals of stocks in Guangdong in the amount of 13,000...
Chinese primary aluminium inventory gains 5,000 tonnes on week
As updated by Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, came in at 1.75 million tonnes as of Thursday March 14. Stocks increased 5,000 tonnes from Thursday March 7. In Guangdong province, a buildup of stocks...
