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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Sellers’ enthusiasm to offload cargoes in South China bolsters primary aluminium inventory surge
Shanghai Metals Market research found stocks across local warehouses in south China grew yesterday, October 8, after a week-long National Day holiday, as spot aluminium sellers showed keen interest to offload cargoes. SMM data as of Monday showed the primary aluminium stocks in Nanhai, Guangdong...
Chinese primary aluminium inventories record a surge during week-long National Day Holiday
After a week-long National Day holiday in China, Shanghai Metals Market research team presents an update on the primary aluminium inventory. According to the data shown, the inventories across eight major Chinese consumption areas have grown due to fewer-than-expected cargoes arrival at warehouses....
China’s aluminium processing industry sees a growth in September with PMI rebounding to 51.1
According to Shanghai Metals Market report, the last month (September) in China recorded an expansion in aluminium processing industry, bolstered by improvement in primary alloy, secondary alloy, foil, plate/sheet and strip, and construction extrusions sectors. The purchasing manager’s index (PMI)...
Aluminium billet inventories in China inch up on limited restocking; Alloy price registers a drop
Aluminium billet inventories have extended their growth further on less than expected restocking across the major Chinese consumption areas, found Shanghai Metals Market. As of September 27, the stocks of 6063 aluminium billet were seen at 117,200 tonnes after inching up by 1,000 tonnes from...
China’s aluminium inventory drops further to 1.59MT; A00 ingot price continues downward trend
As reported by Shanghai Metals Market, China's inventory of primary aluminium across major consumption areas in China, including SHFE warrants, shrank 33,000 tonnes from last Thursday to stand at 1.59 million tonne as of Thursday September 27. Inventories once again recorded a decline as downstream...
LME aluminium closed slightly lower yesterday; SHFE rebounded to the daily moving average
The dollar was slightly weaker on Tuesday ahead of a Federal Reserve meeting. The market is expecting another interest rate hike, leaving little room for further currency gains. Both LME and SHFE base metals ended in mixed performance overnight. After opening the week higher at US$ 2035 per tonne,...
A00 aluminium ingot spot price drops in east China market on improved transactions
According to the Shanghai Metals Market report, primary aluminium spot discounts in the east China market had slightly widened yesterday, September 25, after the Mid-Autumn Festival. The market was oversupplied amid sellers’ enthusiasm to offload cargoes. Purchasing activity, however, had taken a...
China’s aluminium inventory extended losses; A00 ingot prices plunge by RMB 130/t
According to the latest update by Shanghai Metals Market, primary aluminium inventories across eight consumption areas in China, including SHFE warrants, fell by some 17,000 tonnes from last Thursday September 20 to stand at 1.606 million tonnes as of Tuesday September 25.China’s aluminium...
Operating rate at Chinese aluminium extrusion producers continue declining in August: SMM found
Shanghai Metals Market found operating rate across 50 Chinese aluminium extrusion manufacturers extended a decline in August on sluggish demand from the construction extrusion sector. The survey by SMM found that manufacturers in August operated at 57.3 per cent, 2.2 percentage down from the...
6063 aluminium billet stocks shrink in China leading to aluminium alloy price hike
Stocks of 6063 aluminium billet across five major consumption areas in China recorded a fall yesterday, September 20, by 4,900 tonnes from a week earlier to stand at 116,200 tonnes, Shanghai Metals Market found. The decline came after five consecutive weeks of increases. In Foshan and Guangdong,...
LME aluminium records lowest of the week; SHFE to trade at RMB14,480-14,700/t
The US dollar was steady against the euro and slipped against the risk-sensitive Aussie, as investors digested China-US tariff news. The dollar index, which measures the greenback against a basket of six other major currencies, dipped about 0.1% at 94.50.Base metals traded with pressure for the...
A00 aluminium ingot price in China extends a surge today on sluggish inventories
Primary aluminium inventories in China have once again recorded a plunge on September 20 because of improved consumption. According to the report from Shanghai Metals Market, the inventories across eight major consumption areas, including SHFE warrants are hovering at 1.623 million after being...
Chinese A00 aluminium ingot price climbs RMB 30 per tonne after two consecutive days of decline
After declining two days in a row, the A00 aluminium ingot spot price spurs yet again on September 19, by RMB 30 per tonne, Shanghai Metals Market found. A day before, the price was at 14430 per tonne while today the price has concluded at RMB 14460 per tonne. The average prices are expected to...
Chinalco to construct new alumina project in Guangxi: SMM updates
According to the latest update by Shanghai Metals Market, Aluminum Corporation of China Limited (Chinalco) on Monday, September 17, announced its plan to invest some RMB 5.81 billion to construct a new alumina project in Fangchenggang of Guangxi province. The project on completion will be...
Primary aluminium inventories in China drop over the weekend leading to reduced ingot price
According to the latest update from Shanghai Metals Market, inventories of primary aluminium across eight major consumption areas in China decreased further by some 31,000 tonnes to stand at 1.645 million tonnes as of Monday September 17. On last Thursday, the inventories had lowered 38,000 tonnes...
Primary aluminium production cost in China may rise in Q4 2018: SMM apprehends
Shanghai Metals Market senior analyst Liu Xiaolei believes that the production cost of primary aluminium may surge backed on settling down of charges over captive power plants in the Shandong province earlier this week. This whole phenomenon may bolster the domestic prices of primary aluminium as...
Aluminium billet inventories in China extend their growth this week; SMM found
According to the latest update from Shanghai Metals Market, inventories of aluminium billet across major consumption areas in China have extended their growth this week. The reason could be the sluggish consumption in Guangdong area, SMM research found. Stocks of 6063 aluminium billet across five...
China to increase value-added tax (VAT) rebates on exported aluminium products: SMM updates
According to the report by Shanghai Metals Market, China plans to increase the value-added tax (VAT) rebates on exported aluminium products from September 15, 2018. The notice came from the Ministry of Finance and State Administration of Taxation on September 5. The VAT rebate rates on the exports...
