Aluminium fluoride prices rise on cost support; premium for high-grade supply widens
This week, trading sentiment in China's aluminium fluoride enterprises was moderate, and aluminium fluoride prices continued to rise. As of now, SMM mainstream quotations for aluminium fluoride stand at RMB 11,500-12,300 per tonne; cryolite spot prices firmed, with SMM cryolite quotations at RMB...
Macro rate hike expectations bring periodic pressure, while destocking in China provides solid bottom support
Futures: The most-traded SHFE aluminium contract opened at RMB 24,310 per tonne in the night session on September 10, reached a high of RMB 24,310 per tonne and a low of RMB 24,075 per tonne, and closed at RMB 24,125 per tonne, down RMB 365 per tonne or 1.49 per cent from the previous close....
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Chinese A00 aluminium ingot price records a hike on lowered inventories: SMM
Shanghai Metal Market research found a further drop in social inventories of primary aluminium across eight major consumption areas in China. The stock, including SHFE warrants, came in at 1.438 million tonnes over the weekend ended on Monday, November 19, down some 15,000 tonnes from last...
Spot aluminium premium widens in Shanghai on brisk transactions
Shanghai Metals Market research found brisk transactions between traders widened spot aluminium premiums in Shanghai on Friday, 16 November 2018. The SHFE 1812 contract rose in the second session of morning after trading rangebound in the first session. Spot premiums in Shanghai stood at RMB30-40...
Active downstream purchases on sluggish spot price lead to weak aluminium and billets inventories in China
Social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, dropped by some 32,000 tonnes from Thursday November 8 to stand at 1.453 million tonnes as of Thursday November 15, Shanghai Metals Market data showed. Downstream buyers stockpiled as spot...
Spot aluminium premiums expand in Shanghai; ingot prices fall across all China markets
Shanghai Metals Market research found brisk transactions between traders and the approaching delivery date expanded spot aluminium premiums in Shanghai on Wednesday November 14. The SHFE aluminium contract for November delivery pared earlier losses in morning trades. Premiums stood at RMB20-30 per...
Chinese secondary aluminium operating rates remain low in October due to sluggish demand
Shanghai Metals Market data showed operating rates across Chinese secondary aluminium producers averaged 56.81 per cent in October, down 1.44 percentage points from a month earlier and 3.19 percentage point from a year earlier. This month-on-month and year-on-year fall in secondary aluminium...
Aluminium ingot price in east China records a slight rise on active downstream consumption: SMM
Shanghai Metals Market research found most transactions of spot aluminium in Shanghai were done between discounts of RMB 10 per tonne to premiums of RMB 20 per tonne on Tuesday, November 13, relative to the SHFE 1811 contraction. The SHFE aluminium contract for November delivery traded range-bound...
Chinese A00 aluminium ingot price extends plunge over the weekend despite further lowered inventories
According to Shanghai Metals Market, the A00 aluminium ingot price has extended its plunge over the weekend by RMB 30 per tonne on Monday, November 12, to stand at RMB 13830 per tonne. The average prices are expected to range between RMB 13810 per tonne and RMB 13850 per tonne, with spot discount...
LME aluminium falls as U.S extends deadline for Rusal; SHFE remains weak
The US dollar rose against most major currencies on Friday and settled at 96.88. Major Base metals fell across the board as LME aluminium declined 1.31% last week. LME aluminium closed at US$ 1964.5 per tonne on Friday November 9, down from US$ 1977 per tonne on Thursday November 8. LME aluminium...
China’s total primary aluminium output during Jan-Oct stands low Y-o-Y despite a growth in October production
According to the data shared by Shanghai Metals Market, China’s primary aluminium production for the month of October stood at 3.114 million tonnes, up 3.5 per cent from the same period last year. This grew overall production during January-October to 30.166 million tonnes but still stood lower by...
China’s aluminium ingot supplies to grow in Q4 2018 on weaker demand and slow output cuts
Shanghai Metals Market believes that supplies of aluminium ingot in China may expand in the fourth quarter of 2018 as the demand would likely to remain sluggish. Production, on the other hand, grew month-on-month. In September, China produced 3 million tonnes of primary aluminium which in the next...
Chinese aluminium alloy price still shows restraint against extended drop in billet inventories; ingot price records a plunge
According to the data by Shanghai Metals Market, stocks of 6063 aluminium billet across five major consumption areas in China dropped by some 11,300 tonnes over the weekend ended on Thursday, November 8 to stand at 129,800 tonnes. SMM believes downstream buyers stockpiled as prices dipped over the...
Chinese aluminium spot discounts remain unchanged amid enthusiastic cargoes offloading
Shanghai Metals Market research found that aluminium spot discounts barely recorded any change on Wednesday, November 7, across the Shanghai Market while traders remained enthusiastic to offload cargoes. The SHFE aluminium contract for November delivery also inched up though in a tight range in the...
A00 aluminium ingot price in China grows against lowered inventories due to fewer arrivals
According to Shanghai Metals Market, social inventories of primary aluminium across eight major consumption areas in China, including SHFE warrants, came down again by 40,000 tonnes from last Thursday, November 1, to 1.485 million tonnes as of today, November 8. SMM believes fewer arrivals to the...
A slight growth in Chinese alumina price however fails to push up the aluminium ingot price today: SMM
After showing restraint yesterday, alumina spot price has recorded a slight growth today, on November 7, to RMB 3179 per tonne, Shanghai Metals Market found. This marks a growth by RMB 9 per tonne. The average price is expected to remain the same as that of the spot price. The growth has touched...
Limited supplies and weak consumptions to keep aluminium scrap market balanced in China in Q4 2018
According to the latest update by Shanghai Metals Market, short supplies of invoiced domestic resources and limited inflows of seaborne resources are together contributing to the balanced market of aluminium scrap in China. Moreover, sluggish downstream automobile consumption is also attributing to...
China’s primary aluminium inventory drops on limited supplies; Ingot prices rise after four days
Social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, dropped some 25,000 tonnes from Thursday November 1 to stand at 1.5 million tonnes as of Monday November 5, Shanghai Metals Market data showed. Supplies shrank while outflows from social...
Decline in Chinese aluminium future prices results in firmed offers from sellers and expanded spot discounts
According to the data shared by Shanghai Metals Market on Friday, November 2, spot aluminium discounts across eastern markets expanded while sellers held offers firm after prices of futures came off from earlier highs. The SHFE aluminium contract for November delivery fell below RMB 13,480 per...
Aluminium alloy price records no rise despite lowered billet inventories in China: SMM
According to the data by Shanghai Metals Market, 6063 aluminium billet inventories across five major consumption areas in China extended a week-on-week decline by some 2,400 tonnes over the weekend ended on Thursday, November 1, to stand at 141,100 tonnes. The reason for this plunge could be...
