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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MIIT reveals first batch of recommended NEV models for 2019: SMM
Shanghai Metals Market updates that China’s Ministry of Industry and Information Technology (MIIT) has released this year’s first batch of recommended new energy vehicle (NEVs) models. The news came after MIIT released in a statement on its website on Thursday, February 14. The first batch of NEVs...
Chinese A00 aluminium ingot price records third back-to-back rise; Input costs remain unchanged
According to Shanghai Metals Market, the A00 aluminium ingot price has registered a rise today, on February 15, by RMB 20 per tonne to RMB 13,340 per tonne. This marks the third back-to-back growth in ingot price since February 13. The average prices are expected to range between RMB 13,320 per...
Chinese primary aluminium inventories grow 55,000 tonnes: SMM
According to Shanghai Metals Market, social inventories of primary aluminium across eight major consumption areas in China, including SHFE warrants, have extended growth by 55,000 tonnes to 1.617 million tonnes over the week ended on February 14. On Monday, February 11, the primary aluminium...
Chinese A00 aluminium ingot price continues to grow even though input costs show restraint
According to Shanghai Metals Market, the A00 aluminium ingot has extended its price today, on February 14, to RMB 13,320 per tonne. On February 13, the price was at RMB 13,290 per tonne, which means today the aluminium ingot price has recorded rise by RMB 30 per tonne. The average prices are...
Spot aluminium transactions grow across east and south China on improved downstream purchases
According to Shanghai Metals Market, large purchases among downstream consumers today, on February 13, have bolstered further improvements in spot aluminium transactions across east and south China markets. This could be possible as many downstream consumers have resumed work from the Chinese New...
Chinese spot alumina price drops today after two weeks of restraint; Aluminium ingot price rises
After remaining restrained since the end of January, the alumina spot price today, on February 13, has recorded a plunge by RMB 15 per tonne to RMB 2,793 per tonne, found Shanghai Metals Market. From January 29 to February 12, the price of alumina stood at RMB 2,808 per tonnes with no intermittent...
Spot aluminium trades across eastern and southern markets improve from previous day
On Tuesday February 12, spot aluminium transactions across eastern and southern markets in China picked up from the previous day, according to Shanghai Metals Market. The slightly better spot transactions could be attributed to improved deals between traders. Overall spot aluminium trades remained...
Operating rates across Chinese downstream aluminium processors to fall m-o-m to 65% in January
According to Shanghai Metals Market, operating rates across Chinese processors of aluminium plate, sheet, and strip are estimated to decline to 65 per cent in January, down three percentage points from the revised reading in December. On a yearly basis, operating rates in January are expected to...
A00 aluminium ingot price in China shows restraint except at some major markets
After a plunge yesterday from RMB 13,300 per tonne to RMB 13,270 per tonne, the A00 aluminium ingot price decides to remain unchanged today, on February 12, Shanghai Metals Market learned. The average prices are expected to range between RMB 13,250 per tonne and RMB 13,290 per tonne, with spot...
Spot aluminium trades remain sluggish as downstream consumers yet to return from CNY
According to Shanghai Metals Market, spot aluminium transactions across eastern and southern China remained poor this morning, the first trading day after the Chinese New Year break. The poor trading occurred primarily because many downstream consumers were not back from the holidays yet. The...
Primary aluminium inventories grow 13.4% across China on poor spot transactions: SMM
According to Shanghai Metals Market, social inventories of primary aluminium across eight major consumption areas in China, including SHFE warrants, grew 13.4 per cent over a week-long Chinese New Year Holiday, as on today, February 11. Compared to 1.378 million tonnes as of January 31, the primary...
A00 aluminium ingot price slips by RMB30/t after a week-long Chinese New Year break
The Shanghai Metals Market opened today after almost a week-long Chinese New Year Holiday from February 4 to February 10 with a drop in A00 aluminium ingot price. Registering a dip by RMB 30 per tonne, the ingot price today, on February 11, stood at RMB 13,270 per tonne, according to the data found...
Lowered aluminium ingot price and increased billets stocks prompt aluminium alloy price drop
Followed by two back-to-back rises, the A00 aluminium ingot price registers a drop today, on February 1, by RMB 90 per tonne, found Shanghai Metals Market. After increasing on 30 th of January and 31 st of January, the aluminium ingot price had reached RMB 13,390 per tonne, but after a plunge today...
LME aluminium price extends gains; SHFE likely to trade at RMB13,450-13,560 /t
The US dollar index recovered on Thursday as the euro slid against the greenback after Jens Weidmann, the Bundesbank president and a member of the European Central Bank Governing Council, painted a bleak picture of the German economy, saying the country's slump will last longer than thought. LME...
LME aluminium price strengthens to close at $1871/t; SHFE to hover at RMB13,400-13,540/t
The US dollar fell to a low not seen since January 11 after the Federal Reserve held interest rates steady as expected and sounded caution on the economy and future interest rate increases. LME aluminium rose 0.4% and SHFE aluminium nudged up 0.04%. LME aluminium closed Wednesday's trading at US$...
Chinese pre-baked anode price shows no change on Weiqiao’s cut of its purchasing prices; Ingot price rises
According to Shanghai Metals Market, Shandong Weiqiao Group reduced its prebaked anode purchasing prices by RMB 140 per tonne for February after it cut prices for January by RMB 1300 per tonne. This brought February’s purchasing prices to RMB 3,320 per tonne in cash and RMB 3,355 per tonne on...
Primary aluminium price decline boosts spot transactions in east-China: SMM
Shanghai Metals Market found that decline in primary aluminium prices today, on January 29, has fuelled purchasing enthusiasm among downstream consumers and triggered spot aluminium transactions across east-China as a result. The front-month aluminium contract on the Shanghai Futures Exchange pared...
Chinese A00 aluminium ingot price continues to drop on growing inventories and lower transactions
In the background of growing social inventories of primary aluminium by around 31,000 tonnes over the weekend and low transactions in the spot market, the A00 aluminium ingot price has recorded a plunge today, January 29, by RMB 120 per tonne. According to Shanghai Metals Market, yesterday, on...
