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....
Grow with
AL Circle
Report about 10 Million-tpy New Aluminium Project in Inner Mongolia exaggerated: SMM
<p>According to the latest update from SMM, a recent report about a possible talk between the government of Dalad Banner in Inner Mongolia and Henan Maintain Al. Industrial Corp. about constructing a 10 million-tpy aluminium project is an exaggeration.</p> <p><img style="vertical-align: middle;...
Alumina price rise continues, but will it sustain? SMM doubts
<p>Alumina is on an uptrend across major Chinese markets. However, analysts at the Shanghai Metals Market (SMM) warn it is too early to rejoice. According to them, the recent price gains are being driven mainly by the alumina refineries holding back alumina stocks and traders coming in numbers with...
LME aluminium to see range-bound trading next week, SMM says
<p>LME aluminium will trade in a narrower range next week, while SHFE 1610 aluminium will consolidate at highs, SMM predicts.<br /><br />SMM sees LME aluminium between $ 1,620-1,680 per tonne. Low aluminium stocks in China and expectations for improving aluminium consumption in September will allow...
Alumina prices likely to hold their ground in H2 2016
<p>China alumina prices, which have been on a downward track over the last few months, are unlikely to deteriorate further in the second half of the current financial year, analysts at the Shanghai Metals Market expect.<br /><br />Presently, the Chinese alumina market is in a demand-supply balance...
LME aluminium to be wighed on by a strong dollar ahead of US Fed conference
<p>According to the analysts at Shanghai Metals Market, the base metal industry expects that the US Fed Chairwoman, in likelihood, will deliver 'hawkish speech' at the upcoming conference scheduled Friday, which will strengthen the US dollar. The speculation drove EIA crude oil stocks up. The...
China unstoppable at 2.69mt; August aluminium output continue growing
<p>China is simply not showing any signs of slowing down. The momentum at which the country has been churning out aluminium in the last several months is still continuing. Analysts at the Shanghai Metals Market (SMM) are of the opinion that aluminium production in the domestic market will grow...
Falling LME aluminium to find support at $1,650/mt but 44% Chinese smelters are still bearish
<p>Aluminium contracs traded on London Metal Exhange (LME) will stop falling and find resistance at the 20-day and 40-day moving averages, with prices expected to range between USD1,650-1,670/mt today (August 23), observed analysts at Shanghai Metals Market (SMM). <br /> <br />According...
China alumina output to fall back in August from this year’s high
<p>Alumina production in China hit this year’s high in July, but will fall back in August, SMM expects.<br /><br />The country’s alumina output totalled 5.05 million tonnes in July, up 3.8 per cent from June and 4.49 per cent from a year ago, SMM statistics showed. Release of new and...
LME aluminium to hover at highs this week, SMM expects
<p>Both LME and SHFE aluminium will consolidate at highs this week, SMM predicts.<br /><br />LME aluminium will remain firm between $1,650-1,720 per tonne, while SHFE 1610 aluminium will consolidate at 12,300-12,800 yuan per tonne, supported by low aluminium stocks in China. <br /><br />Aluminium...
64% Chinese aluminium smelters see aluminium prices stabilize this week
<p>SMM surveyed 44 Chinese aluminium smelters about their opinions over aluminium price outlook. About 64 per cent of them expect SHFE 1610 aluminium to stabilize between RMB 12,200-12,350/mt and LME aluminium between USD 1,630-1,655/mt. Aluminium stocks in domestic five major markets continued...
LME aluminium to consolidate at highs next week, SMM expects
<p>Aluminium prices on the LME and SHFE will consolidate at current highs while searching for direction next week, SMM foresees.</p> <p>SMM sees ME aluminium between $1,630-1,680 per tonne and SHFE 1610 aluminium between 12,100-12,500 yuan per tonne. Low aluminium stocks in China will offer support...
China aluminium stocks record biggest growth since mid-March
<p>Aluminium stocks in China’s five major markets began growing for the second time in nearly five months and saw their biggest weekly growth since mid-March, SMM data showed.<br /><br />It needs to be pointed out, though, that total stocks remain the lowest since March 2009 and down as much...
68% Chinese aluminium smelters see aluminium prices stabilize this week, SMM survey
<p>SMM surveyed 44 Chinese aluminium smelters about their opinions over aluminium price outlook.<br /><br />About 68% of them expect SHFE 1610 aluminium to stabilize between RMB 12,100-12,400/mt and LME aluminium between USD 1,625-1,650/mt. Aluminium stocks in domestic five major markets stopped...
Falling aluminium inventories supporting LME and SME aluminium
<p>As a standard reflection of dropping aluminium inventories dropped in LME warehouses as well as Shanghai Futures Exchange, aluminium prices have been showing an upward trend with the LME closing at $ 1,645 and SME closing at $ 1,908 on August 1. Aluminium prices climbed signaling tighter...
Chinese aluminium smelter remain in profit territory, despite higher costs
<p>Aluminium smelters in China posted big profit in July, despite rising costs, SMM learned.<br /><br />Smelters surveyed by SMM reported average profit to 1,250 yuan per tonne in the week ending July 29.<br /><br />Average cost at smelters in SMM’s survey sample rose 2.1 per cent from June...
SHFE 1610 aluminium inches up, 56% Chinese smelters see prices stabilizing this week
<p>SHFE 1609 aluminium, after opening at RMB 12,290/mt, fell to RMB 12,240/mt on Friday’s night trading. Prices of the white metal then rallied to RMB 12,355/mt on short covering, ending at RMB 12,340/mt.<br /><br />On Monday, short selling sent SHFE 1610 aluminium down to RMB 12,195/mt after...
SHFE aluminium to swing widely and outperform LME aluminium this week
<p>Manufacturing PMIs in China and major economies in the euro zone are expected to change little in July from June. LME aluminium will test resistance at the 20-day moving average and move at USD 1,630-1,650/mt. LME aluminium is unlikely to get rid of weakness, while SHFE aluminium will get...
Aluminium stocks in China still in downward track, SMM says
<p>Aluminium stocks in China’s five major markets are still on the decline even after touching 7-year low, SMM data showed. <br /><br />Arrivals remained low, and warehouse withdrawals were relatively strong, SMM learned. Some smelters said there are a large amount of ingots still on...
