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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Primary aluminium trading in east China stands narrow against the surged price
Trading in the spot aluminium market in east China stood narrow on Thursday, August 9, compared to the previous day as surging prices jeopardised downstream consumers’ buying interest, Shanghai Metals Market learned. According to SMM, A00 aluminium ingot price clocked a significant hike right from...
China’s alumina and aluminium productions record a hike in July: SMM updates
Shanghai Metals Market has recently unveiled a roundup of the total production of base metals including alumina and aluminium in China for the month of July, after surveying major producers in the market to obtain first-hand information for calculation. China’s total output of alumina in July...
A00 ingot price shows restraint against narrow aluminium trading activity in south China
According to the latest update by Shanghai Metals Market, south China on Tuesday, August 7, saw a narrow trading activity in the spot aluminium market, though slightly better than the previous day. But the SHFE August contract edged lower in the morning, Most transactions in Guangdong were heard at...
LME aluminium traded rangebound on Friday; SHFE up on news of winter production cuts and prebaked anode prices
The US dollar index traded rangebound at highs and closed at 95.2 on Friday. China's offshore yuan rebounded after the country’s central bank on Friday imposed a reserve requirement of 20% on trading of foreign exchange forward contracts. Driven by these developments LME base metals closed mixed on...
Weiqiao raises its pre-baked anode purchasing price while ingot price shrinks despite narrow spot discounts
After seven consecutive months of decline, Weiqiao Group has raised its purchasing prices for pre-baked anode by RMB 180 per tonne for August. The price is now standing at RMB 3280 per tonne in cash and RMB 3135 per tonne on acceptance, according to the latest update by Shanghai Metals Market. SMM...
Primary aluminium extends price hike amid narrow spot discounts in east China on active trading
Primary aluminium spot discounts in east China narrowed on Monday, July 30, as local traders showed keen interest to purchase, Shanghai Metals Market learned. Discounts stood at RMB 70 to RMB 60 per tonne after dropping from RMB 90 to RMB 80 per tonne as on Friday, July 27. The SHFE August...
Average A00 aluminium ingot price grows amid inventory hike in China
Primary aluminium inventory in China continued to shrink over the weekend ended on July 30, 2018, as consumption was bolstered by exports despite a low season in the domestic market, Shanghai Metals Market research found. The inventory across eight major consumption areas, including SHFE warrants,...
Weiqiao to cut its pre-baked anode purchasing price further: average spot price remains unaffected
Shanghai Metals Market found Weiqiao Group planned to cut its pre-baked anode purchasing price by RMB 150 per tonne for August. But domestic producers on Wednesday, July 25, opposed the decision because of the industry’s loss since the past two months. SMM expects company to adjust its cut to RMB...
Sluggish consumption drives billet inventory hike in China four weeks in a row, while alloy price remains same
According to the latest data by Shanghai Metals Market, aluminium billet inventory in China has extended growth over the week ended on July 26, amid low season and sluggish consumption. It has increased by 8,600 tonnes from 70,800 tonnes on last Thursday, July 19, and hovering at 79,400 tonnes...
Primary aluminium price sees a further surge despite narrow trading activities in the east China
According to the latest update by Shanghai Metals Market, larger aluminium spot discounts have resulted in narrow trading activities in the east China spot aluminium market as sellers there showed slight reluctance in offloading cargoes on Tuesday, July 24. Yesterday, spot discounts in the east...
Higher aluminium prices dampens trading in China spot market; inventory down on fewer smelter deliveries
As aluminium prices surged driven by its LME counterpart, downstream consumers in the east and south China spot aluminium markets held back from purchasing on Monday July 23, Shanghai Metal Market said. This accounted for sluggish trades across the regions. The average A00 aluminium ingot price in...
Aluminium inventory hike sidelines traders in east China resulting in price drop
With the growing primary aluminium social inventories in China, spot market traders in the east stood on the sidelines yesterday, July 19, in anticipation of larger spot discounts, Shanghai Metals Market found. The SHFE 1808 contract came off from its initial increase and traded range-bound within...
LME aluminium dived to a low of US$2,040 per tonne; SHFE to remain rangebound
The US dollar index inched down from a three-week high but still stood above the 95 level and closed at 95.09. Base metals mostly consolidated at low levels. As longs exited at highs, LME aluminium dived to a low of US$2,022 per tonne during the European trading session after touching US$2,045 per...
East China registers hike in spot primary aluminium market despite narrow transactions last day
According to Shanghai Metals Market, spot primary aluminium market in east China witnessed a narrow trading activity on Monday, July 16, despite the tumble in prices. The reason could be the reluctance of downstream consumers in purchasing primary aluminium during a seasonal lull. The SHFE 1807...
LME rebounded on expectation of the US lifting sanctions against Russia: SHFE stays low on weak consumption
Base metals dipped for the most part on slower growth of China's economy in the second quarter. The key development today is the release of US industrial production data for June. LME aluminium jumped to a high of US$2,074 per tonne and closed above the five-day moving average last night. The...
Operating rate of secondary aluminium in China edged down in June: SMM reports
Shanghai Metals Market studied that multiple hindrances relating to environmental problems, additional tariffs on aluminium scrap exports to the US, and stern limitations on impurities in scrap imports inevitably led to a drop in Chinese secondary aluminium operation rate for the month of June. The...
China's aluminium inventory shrank on higher consumption; A00 aluminium ingot price rose RMB150/t today
China's inventory of primary aluminium across eight major markets again continued to drop on higher downstream consumption due to falling prices. According to Shanghai Metals Market, inventories of primary aluminium, including SHFE warrants, fell 33,000 tonnes over the week to stand at 1.8 million...
China aluminium prices find support in buoyant alumina; new commissioning slow down on low demand
The China market is buzzing with the expectations that primary aluminium prices would stabilize or may increase supported by alumina prices. Meanwhile, anticipation of a growth in aluminium inventory grows amid low seasonal demand and slow pace in re-commissioning of capacity. Shanghai Metals...
