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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Can supply side reforms support aluminium prices in the long term? Market fundamentals to play a key role
<p>The fourth round of environmental inspections in China has started in 31 provinces and metal producers in the regions covered by the scan have been required to shut down for environmental reasons. Aluminium producers in many regions of Zhejiang have closed for environmental check.</p> <p...
Downstream aluminium producers throng spot market after SHFE aluminium falls
<p>According to an SMM report, downstream producers thronged the East China spot market after SHFE 1708 aluminium fell over 200 RMB/tonne on Monday morning.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/smm.jpg" alt="News"...
China alumina prices to face downward pressure due to surplus market; smelters remain profitable
<p>Due to huge aluminium capacity cuts by Weiqiao and Xinfa Group, alumina market in China is in surplus. SMM expects that due to inflows of surplus alumina from Weiqiao group, alumina prices will face continuous downward pressure.</p> <p style="text-align: center;"><img...
Aluminium billet processing fees drop in Guangdong to balance rising aluminium prices
<p>The charge in SHFE aluminium prices have caused a dramatic drop in aluminium billet processing fees (including tax, self-pickup) in Guangdong recently and are even offered flat with or lower than aluminium ingot prices.</p> <p style="text-align: center;"><img style="vertical-align: middle;"...
Chinese aluminium production expected to drop in August; Chalco cuts prices after consecutive hikes
<p>Despite massive production cuts in July, China still has surplus aluminium in the market due to poor domestic consumption. SMM feels the oversupply will persist and aluminium stocks will continue growing in the long term due to new capacity that would be coming online in future.</p> <p...
China aluminium ingot prices lose steam toward July end, output increases YoY
<p>Aluminium ingot prices in China major markets rose consistently at a moderate pace in July this year but slowed down towards the month end, revealed National Bureau of Statistics (NBS) data. The prices of aluminium ingots in late July were RMB 14,244.60 per tonne, up RMB 120.8 per tonne (0.9 per...
Weiqiao Group and Xinfa Group ordered to cut Illegal aluminium Capacity, SMM reports
<p>According to an SMM, Shandong 2017 Coal Consumption Reduction Work Action Program was issued by the Shandong Development & Reform Commission which states that the Weiqiao Pioneering Group and Xinfa Group were ordered to cut illegal aluminium capacity.</p> <p><img style="vertical-align:...
China aluminium stock is on the rise; Chalco hikes prices dramatically for two consecutive days
<p>SMM statistics showed that China’s aluminium production had a sharp rise in July compared with a year ago. China produced 3.12 million tonnes of aluminium in July, up 16.5% YoY, and 21.42 million tonnes of aluminium during the first seven months of this year, up 20.9% from the same...
Chalco hikes aluminium prices in major China markets; SHFE aluminium surges
<p>China Aluminum International Trading Co. (Chalco Trading) has increased aluminium prices it offered in China’s major markets today by more than 300 RMB/tonne.</p> <p>Unit: RMB/tonne</p> <p style="text-align: center;"><img style="vertical-align: middle;"...
Aluminum Smelters in China squeeze supply on the news of SHFE’s gain on Friday
<p>Amidst uncertainties about aluminium capacity cut in China, The government has issued a suggestion that construction of new coal-fired captive power plants will be banned in cities like Beijing, Tianjin, Hebei, Yangtze River Delta and Pearl River Delta. The document also directed that coal-fired...
Aluminium prices drop across China on rising aluminium stocks; no confirmation on capacity cuts
<p>Discouraging all efforts towards capacity cut, aluminium stocks in China are continuously rising in July and August. SMM statistics showed that aluminium stocks in five major markets, including SHFE aluminium stocks have touched fresh record highs recently.</p> <p style="text-align:...
Henan opts to join 28 cities list of winter aluminium production cuts
<p>Henan Province has willingly opted to join aluminium production cut during winter season. For this, Henan provincial government has issued a notice in which it announced intention to add Luoyang, Pingdingshan and Sanmenxia into the list of 28 cities winter production cuts in China, SMM...
Major aluminium scrap prices drop across China markets as demand weakens
<p>The prices of aluminium scrap commodities fell across major regional markets in China as demand weakened among recyclers. In the wake of recent pollution control checks initiated by the government many secondary aluminium producers were forced to scale down their operations. Hence, raw material...
China accounts more than 50% of global aluminium production in January-May 2017, says WBMS
<p>According to the latest data from World Bureau of Metal Statistics (WBMS) and published by Shanghai Metals Market, the primary aluminium market worldwide was in a deficit of 735,000 tonnes during January-May as compared to 1.1 million tonnes for the whole of 2016.</p> <p><img...
SMM expects new environmental rules to lift up the current flat bauxite market in China
<p>Bauxite prices in China have been flat for about two months now. Mining operations in major bauxite-producing regions Shanxi and Guizhou were mostly suspended in May as the central government ramped up anti-pollution measures in these regions. There was no high demand due to the upcoming alumina...
SMM advises investors to avoid overt optimism post Shandong’s aluminium production cut
<p>If reports are to be believed, China’s Shandong will cut the production of aluminium by over 2 million tonnes. According to the latest news published by Shanghai Metals Market (SMM), China’s aluminium giant Shandong Weiqiao is expected to slash its aluminium production by 1.4 million...
The YoY growth in China aluminium output expected to slow down in July
<p>Despite the entire buzz around China’s so called capacity cut in the alumina aluminium sector, China’s aluminium output has been growing consistently since the beginning of 2017. As reported by Shanghai Metal Market, aluminium output in China was 3.09 million tonnes in June, up 20.2%...
China’s alumina production set to rise in July, SMM anticipates
<p>According to recent statistics showed by Shanghai Metals Market, China’s production of alumina increased year-on-year in June, and the daily average production climbed month-on-month. The production of alumina is expected to increase in July. </p> <p><img style="vertical-align:...
