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...
Grow with
AL Circle
Chinese spot aluminium market sees low transactions as New Year break begins
According to Shanghai Metals Market, spot aluminium transactions across eastern and southern markets kept muted on Monday, January 28, as most downstream consumers began their Chinese New Year break. This is the last week before the most important Chinese festival begins. The front-month aluminium...
Chinese primary aluminium social inventories grow and so as A00 aluminium ingot price
Social inventories of primary aluminium in China have further extended a growth over the weekend ended on Monday, January 28, as some downstream consumers begun Chinese New Year break resulting in lowered consumptions, Shanghai Metals Market (SMM) found. Thus, after a further rise, the inventories...
Chinese A00 aluminium ingot price records a drop on increased inventory and lowered alumina price
Following the growth of primary aluminium stocks by 39,000 tonnes to 1.303 million tonnes yesterday, the price of A00 aluminium ingot has registered a drop today, on January 25, to RMB 13,400 per tonne, Shanghai Metals Market found. This marks the primary aluminium price drop by RMB 70 per tonne...
Chinese primary aluminium inventory registers a growth of 39,000 tonnes
Social inventories of primary aluminium across eight major consumption areas in China, including SHFE warrants, came in at 1.303 million tonnes as of Thursday January 24. The figure is up by 39,000 tonnes from Thursday January 17, Shanghai Metals Market data showed. For the same period, stocks in...
A00 aluminium ingot price in China records growth across all major markets
According to Shanghai Metals Market, the A00 aluminium ingot price has recorded a rise today, on January 23, to stand at RMB 13,390 per tonne. This marks a growth by RMB 50 per tonne from the previous day. The average prices are expected to range between RMB 13,370 per tonne and RMB 13,410 per...
LME aluminium closed Monday’s trading at 1842.5/t; SHFE to trade at RMB13,420-13,520/t
The greenback continued its bullish momentum to start the week, as the US dollar index overnight climbed to the highest since January 4 at 96.43.Base metals closed mixed last night. LME aluminium lost over 1% and SHFE aluminium fell 0.59%. Benchmark aluminium price on London Metal Exchange dropped...
Primary aluminium inventory extends decline in China
According to Shanghai Metals Market, social inventories of primary aluminium across eight major consumption areas in China, including SHFE warrants, stood at 1.262 million tonnes as of Monday January 21, down 2,000 tonnes from Thursday January 17. Compared to last Thursday, inventories in Wuxi,...
6063 aluminium billet stocks record a dip in China by 8,800 tonnes over the week
According to Shanghai Metals Market, stocks of 6063 aluminium billet shrank over the week ended on January 17, across five major consumption areas in China. Since the stocks dipped 8,800 tonnes they now stood at 80,700 tonnes, SMM data showed. The reason for this plunge in aluminium billet stocks...
China’s primary aluminium inventory decreases on limited arrivals
According to Shanghai Metals Market, social inventories of primary aluminium across eight major consumption areas in China, including SHFE warrants, stood at 1.264 million tonnes as of Thursday January 17, down 18,000 tonnes from Thursday January 10. Compared to last Thursday, stocks in Wuxi,...
Chinese A00 aluminium ingot price extends hike despite sluggish alumina spot price
Despite a fall in alumina spot price on January 16, the A00 aluminium ingot price continues to record a rise today, on January 17, from RMB 13,240 per tonne to RMB 13,300 per tonne, found Shanghai Metals Market. The ingot price is seen oscillating throughout this month so far. Since the beginning,...
Exports orders, stockpiling support December Secondary aluminium operating rates in China
Shanghai Metals Market data showed operating rates across Chinese secondary aluminium producers averaged 57.21 per cent in December, down 9.54 percentage points year-on-year (YoY). Compared to November, it increased 0.07 percentage point as more export orders and pre-holiday stockpiling offset the...
LME aluminium price extended declines during the European trading session
The US dollar remained flat and the safe-haven yen rose, after an unexpectedly sharp fall in China’s exports grew concerns about the global economy. Base metals fell across the board overnight. LME aluminium edged down and SHFE aluminium fell 0.49%. LME aluminium contract closed Monday’s trading at...
Chinese A00 aluminium ingot price continues to drop; Input costs record no change
According to Shanghai Metals Market, the A00 aluminium ingot price today, on January 15, has extended its plunge further from RMB 13,240 per tonne to RMB 13,200 per tonne. This marks the second consecutive fall of aluminium ingot prices since the week began. Yesterday, on January 14, the ingot...
Chinese A00 aluminium ingot price shows restraint after more than week-long activities
After over week-long ups and downs, the A00 aluminium ingot price has decided to record no change today, January 11, according to Shanghai Metals Market. The price thus continues to hover at RMB 13,310 per tonne. The average prices are expected to remain the same as well between RMB 13,290 per...
LME aluminium closed slightly higher; SHFE to hover at lows ahead of CNY
The US dollar rebounded from three-month lows, extending gains against the euro and yen, after Federal Reserve Chairman Jerome Powell said that the US central bank intends to further shrink the balance sheet, suggesting it is not done tightening monetary policy. Base metals dipped across the board...
China’s primary aluminium inventory declines as shipping capacity shrinks
According to Shanghai Metals Market, social inventories of primary aluminium across eight major consumption areas in China, including SHFE warrants, stood at 1.282 million tonnes as of Thursday January 10, down 20,000 tonnes from Wednesday January 2. For the same period, stocks in Wuxi, Jiangsu and...
Chinese A00 aluminium ingot price records a rise against alumina price fall
According to Shanghai Metals Market, the A00 aluminium ingot price has shown a little rise today, January 10, from RMB 13,290 per tonne to RMB 13,310 per tonne. This marks a growth of RMB 20 per tonne, compared to the plunge yesterday by RMB 20 per tonne. The average prices are expected to range...
Chinese authorities express concerns about excessive production capacity of alumina: SMM
According to a report by Shanghai Metals Market, Chinese authorities had raised concerns about the possibility of excessive production capacity across the alumina industry in China at the end of last year. They had even cited the projects which were in the pipeline. The news came based on the...
