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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LME aluminium sustains gains, while SHFE aluminium falls ahead of China GDP data release
LME aluminium managed to hold grounds as it showed modest gain to US$2,197.50 per tonne during morning trading hours on Wednesday, January 17. However, the light metal contract fell marginally to close at US$2,187 per tonne, still up from US$2,172 per tonne on Tuesday, January 16. Shanghai Metals...
LME aluminium slips as ingot supply increases; SHFE aluminium under pressure
LME aluminium price dropped as ingot flow increased and US dollar index regained strength on Tuesday, January 16. The light metal contract which started the week at around US$2,233 per tonne, slipped to US$2,172 per tonne after night trading yesterday. Shanghai Metals Market analysis suggests that...
Primary ingot and alloy prices in China drop again; lower domestic prices boost aluminium product exports
As reported by Shanghai Metals Market, Average A00 ingot price dropped RMB 250 per tonne today to stand at RMB 14,700 per tonne and expected to move within a range of RMB 14,680-14,720. Spot discount will range within RMB 120-80 per tonne today. Aluminium ingot prices registered a drop in all...
LME aluminium gains on sustained demand; fundaments weak for SHFE aluminium
LME aluminium traded higher by 0.9 per cent at US$2,233 per tonne on Monday, January 15, as demand remained high. The light metal contract later came down to close at US$2,227.50 per tonne, still higher than previous week’s close at US$2,215 per tonne. Shanghai Metals Market forecasts that LME...
Spot alumina price struggles at a range of RMB 2850-2870/t; other raw materials remain flat
Spot alumina prices in China are showing restraint as reports from SMM shows a drop in alumina production month on month, as December output drops from that in November. As reported by SMM, average spot alumina price in China increased slightly to stand at RMB 2866/t today. Alumina prices have not...
LME aluminium holds ground; SME lies low on the face of oversupplied market in China
LME aluminium registers another gain after continuous drop and according to Shanghai Metals Market; the light metal contract would test the effectiveness of the five-day moving average following a slump, trading at $2,170-2,190/t today. LME aluminium contract gained from US$ 2159 per tonne on...
China churned out 36.3 million tonnes of aluminium in 2017, up 14.4% YoY
SMM has published the latest output data from the major Chinese producers of alumina and aluminium along with other base metals and report shows an increase in aluminium production month on month despite the winter capacity cut. SMM observes that despite the supply-side reform and winter cuts last...
China alumina production drops in December month-on -month; expected to grow again in January
SMM has published the latest output data from the major Chinese producers in the base metals market. The following table shows the latest output for alumina and aluminium in December and a forecast for January. The report shows a drop in alumina production month on month, as December output drops...
LME aluminium continues downward trend; china's growing output to put pressure on prices
LME aluminium continued to drop and the 20-day moving average may not provide enough support today. The initial positive trend is slowing down and market sentiments are being driven by concern over the futility of China’s output cut and the growing aluminium output. The light metal contract plunged...
Aluminium scrap supply to tighten in 2018 on new import policies and environmental checks
According to an SMM report, aluminium scrap supply would stay tight in 2018 as environmental protection policies weigh in further in the coming year. SMM believes supply tightness would be mostly felt around Chinese New Year and the fourth quarter when demand is at its peak. Secondary aluminium...
Both LME and SME aluminium are on a downward curve after the short positive phase
The temporary high phase of LME aluminium at the end of 2017 is fading away as the light metal contract dropped further from US$ 2205.5 per tonne on January 5 to close at US$ 2177.50 per tonne on January 8. As seen by Shanghai Metals Market, a rising US dollar would accelerate the drop of LME...
LME aluminium closes the first trading week of 2018 at US$ 2205.5/t; downtrend expected in both LME and SME
After registering some gains at the start of the New Year, LME aluminium is on a downward trend driven by dollar’s uptrend and higher Chinese inventory. The support of the 10-day moving averages became weaker for LME aluminium and Shanghai Metals Market expects the light metal contract to trade at...
Average A00 ingot price registers an increase, alumina falls in South China market
China aluminium prices are struggling to stay up in the face of higher inventory and lower raw material prices. After registering a slight drop yesterday, Average A00 ingot price increases today to stand at RMB 14,770 per tonne and expected to move within a range of RMB 14,750-14,790. According to...
LME stays up on the last trading day of the year; expected to remain high in the first quarter of 2018
The last week of 2017 gave LME aluminium strong upward momentum lifting up to a high not seen since March 2012. Open interest has also increased to 690,000 lots from 662,000 mt, while the SHFE-LME ratios moved lower to around 6.7. The aluminium contract in LME which started from the lows of...
LME aluminium opens higher on the first day of post-holiday trading
LME aluminium opened higher on the first day of trading after Christmas Holidays. The global macroeconomics remaining positive, the light metal contract rose by 2.9 per cent from the previous week’s close at US$2,137 per cent to US$2,199 per cent on Wednesday, December 27. Technical analysis...
Alumina drops further after a temporary restraint at the expectation of supply tightness
Despite market participant’s expectations that alumina prices would rebound following some production cuts due to shortage of natural gas, alumina continued to move downward after a brief stop. As forecasted by analysts from SMM, natural gas rationing had little influence on alumina output and...
China’s YTD unwrought aluminium and aluminium products export increases 3.7%
According to Shanghai Metals Market (SMM) report, China’s unwrought aluminium and aluminium products export increased by 3.7% reaching 4.35 million tonnes during January-November. SMM anticipates exports of these products to rise this month considering current SHFE - LME prices rise and the...
China alumina supply not to be affected by natural gas shortage; prices to dip further
Market participants have expected alumina prices to rebound following some production cuts due to shortage of natural gas. However, analysts from SMM believe natural gas rationing will have little influence on alumina output next week so the price would slope downward further. Lower inventories...
