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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Steady downstream consumption shrinks primary aluminium inventory and spot discounts in China
As reported by Shanghai Metals Market, China's inventory of primary aluminium, including SHFE warrants, shrank to 2.12 million tonnes as of Monday May 21 due to stable downstream consumption. The inventory was down 20,000 tonnes from 2.14 million tonnes on Thursday May 17 and down 32,000 tonnes...
China’s aluminium inventory records largest week-on-week decline: A00 ingot price dips again
Aluminium inventory had been plunging over a week but Thursday, May 17 broke all the record of the year 2018, as it witnessed the largest week-on-week decline. According to Shanghai Metal Market, China’s inventory of primary aluminium, including SHFE warrants, fell 58,000 tonnes to stand at 2.138...
LME aluminium prices fall on inventory rise; SHFE hit a high of RMB14, 925/t
LME aluminium prices faced pressure overnight as Chalco called for a lift of China's tariff on primary aluminium's export, as seen by SMM. Base metals mostly inched up last night, but LME aluminium fell nearly 1% as inventories grew. The metal closed at US$ 2280 per tonne on May 17 from US$ 2319.50...
East China see a plunge in downstream aluminium trade owing to poor orders
Shanghai Metal Market observed poor trading in East China early morning today, on 17 th of May, 2018, because of plunging demands for downstream aluminium, which in turn deterred the processors from purchases. Compared to South and Central China, processors in East China made a very few purchases...
Secondary aluminium alloy export prices estimated to surge on tight supply in the market: SMM updates
According to Shanghai Metal Market, secondary aluminium exports prices in China are likely to surge further in a short period of time as a resultant of month-long operation suspension of China Certification and Inspection Group (CCIC) at North America in May, which would significantly lower the...
Active consumption of downstream aluminium drives a surge in trading in South China: A00 ingot price rises further
With local downstream consumers having keen interest to purchase aluminium at given stable prices, Guangdong province in China saw a swift growth in overall trading on Tuesday, May 15, 2018, learned Shanghai Metal Market. In this background, the average A00 aluminium ingot price did not miss to...
LME aluminium surged to a high as the US- Sino trade tensions eased
LME aluminium gained 1.82% after touching a low of US$2,263.5 per tonne at one point last Friday.The metal surged to a high of US$2,325 per tonne last night with support from calm US-Sino trade tension. Benchmark aluminium price on London Metal Exchange increased to close at US$ 2285.50 per tonne...
Primary aluminium inventory in China witnesses a succeeding dip; A00 ingot price plunges again
According to a Shanghai Metal Market report, an incessant growth in aluminium shipments and a constant rise in consumption in some of the major Chinese markets like Wuxi and Foshan drove a further downfall in primary aluminium inventory on May 14, 2018, to close at 2.15 million tonnes, as against...
LME aluminium dipped to its lowest in a week on Friday; SHFE edged down
LME aluminium touched a low of US$2,263.5 per tonne at one point during the European trading session last Friday. Benchmark aluminium price on London Metal Exchange fell to close at US$ 2273.50 per tonne on Friday, May 11 from US$2327 per tonne on Thursday May 10. SMM expects LME aluminium to trade...
A00 aluminium ingot prices surge on active buying and trading; alloy prices remain unchanged
According to an SMM report, overall trading across spot aluminium markets in east and south China turned active on Thursday May 10 as downstream consumers stepped up procurement and boosted purchasing. The SHFE 1805 contract rose to a high of RMB 14,545 per tonne from a low of RMB 14,500 tonne in...
LME aluminium surged to a high of US$2,370/t in the morning; SHFE closed flat
After showing gain and closing at US$2384 per tonne on Tuesday May 8, LME aluminium closed down at US$ 2295 per tonne on Wednesday May 9. The metal surged to a high of US$2,370 per tonne from a low around US$2,280 per tonne overnight. Shanghai Metals Market expects it to test support at the five-...
China’s tighter inspections on US scrap to drive up domestic aluminium scrap prices
China’s domestic aluminium scrap prices are likely to stay high with a small upward room in the short term as supplies with invoices would be further tightened after the authority imposed broad-based inspections on all scrap materials imported from the US from May 4, SMM believes. China’s customs...
Bauxite supply tightness in Shanxi expected to lift prices in the short term
According to Shanghai Metals Market, bauxite supplies are tightening in Shanxi province, the main bauxite producing area in north China. Supply of bauxite with an alumina/silicon ratio above 4.5 was short in the market, as the Shanxi government started checks on illegal mining across the province....
LME aluminium opens higher after Early May Bank Holiday; SHFE likely to hover at highs
LME aluminium opened higher after Early May Bank Holiday. Benchmark aluminium price on London Metal Exchange increased to close at US$ 2384 per tonne on Tuesday, May 8, from US$2316 per tonne on Friday May 4. LME aluminium is expected to trade at US$2,330-2,380 per tonne today. As on May 8, LME...
LME remains closed on May 7; SHFE 1807 climbed to a high of RMB 14,755 per tonne overnight
London Metal Exchange was closed on Monday May 7 due to Early May Bank Holiday. Shanghai Metals Market expects LME aluminium to expand upwards along the 20-day moving average today with a trading range of US$2,320-2,370 per tonne. The benchmark aluminium price on Shanghai Metal Exchange increased...
Downstream consumers stockpiling more on ingots than billets; major alloy prices remain unchanged
Aluminium downstream players started stockpiling raw material in the last week and continuing to do so until this week, resulting in active trading at aluminium spot market across East and South China, Shanghai Metal Market research found. Traded prices for aluminium billet processing fees,...
LME aluminium hits 2-week high after some progress on US-China trade talks
Most base metals rose as the US-China trade negotiations made some progress. LME aluminium increased 2.6 per cent and hit a two-week high, as seen by Shanghai Metals Market. Benchmark aluminium price on London Metal Exchange dropped to close at US$ 2316 per tonne on Friday, May 4, from the previous...
LME aluminium surged high to close at US$2,349 on May 3; SHFE to hover at a narrow range
LME aluminium surged high during yesterday’s trading and closed at US$2,349 on Thursday May 3, from US$2269 per tonne on Wednesday May 2. LME aluminium traded around the 20-day moving average overnight and we expect it to trade at US$2,260-2,320 per tonne today. As on May 3, LME aluminium cash...
