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
About 32% Chinese aluminium smelters see aluminium prices fall this week
<p>SMM surveyed 44 Chinese aluminium smelters about their opinions over aluminium price outlook.<br /><br />About 32 per cent of them expect SHFE 1609 aluminium to fall below RMB 12,450/mt and LME aluminium below USD 1,600/mt, citing 4 reasons. First, many aluminium processors in Inner Mongolia and...
China aluminium stocks to see turning point falling after hitting 7-year low
<p>Aluminium stocks in China’s five major markets continued falling after hitting their lowest in seven years, but a turning point is in sight, SMM understands.<br /><br />Heavy rains along the middle and lower reaches of the Yangtze River earlier are leaving some ingots still on the way,...
China alumina output to continue growing in July, SMM expects
<p>China’s alumina output will rise further in July due to release from new and restarted capacity, SMM predicts. <br /><br />Shandong Weiqiao Group’s 1 million-tpy new alumina project will begin to release output in late July. The rest of the year will see limited additional new...
Aluminium price gains to hold their ground as stocks hit nearly 7-year low in China
Aluminium prices on London Metal Exchange and Shanghai Futures Exchange are likely to extend their gains this week as major stocks in China aluminium industry have recently hit nearly seven-year low, observed analysts at the Shanghai Metals Market. SMM predicts, LME aluminium will hover in the...
Will recent meeting of major producers offer welcome rain for alumina prices? SMM reports
The China Nonferrous Metals Industry Association (CNIA) summoned domestic major alumina producers, including Chalco, Jinjiang Group, Shandong Xinfa Group, etc. for a meeting in Beijing last Thursday. Persistent declines in alumina prices might be the main reason why the meeting was held, SMM...
Aluminium stocks in China to see turning point soon, SMM expects
Aluminium stocks in China’s five major markets have been falling steadily for months, but a turning point is on the horizon, SMM predicts. In fact, the inventory decline has been slowing down in recent weeks, and stocks were down a mere 9,000 tonnes as of July 14, SMM data showed. The table below...
SMM: Wait-and-see sentiment to prevail in SHFE aluminium market
SHFE 1609 aluminium will move at RMB 12,550-12,750/mt today, with strong wait-and-see sentiment. LME aluminium will hold above the 5-day moving average, with price range at USD 1,665-1,690/mt. In China’s spot aluminium market, spot discounts of RMB 0-10/mt and premiums of RMB 0-30/mt are expected...
55% Chinese aluminium smelters see aluminium prices stabilizing this week, SMM survey
SMM surveyed 44 Chinese aluminium smelters about their opinions over aluminium price outlook. About 55 per cent of them expect SHFE 1609 aluminium to consolidate at RMB 12,450-12,600/mt and LME aluminium at USD 1,635-1,665/mt, citing two reasons. First, positive US June non-farm employment has...
China aluminium supply to tighten further as heavy rains hamper transport
Aluminium supply in south and east China will tighten further as transport has been several affected by days of torrential rains, SMM expects. SMM learned that aluminium ingot shipments from smelters in northwest China, including Qingtongxia Aluminum and Gansu Aluminum, will be delayed by 4-5 days.
Shandong aluminium industry to get government support
The government of Shandong, among China’s top three aluminium producing regions, recently released a document that will offer financial support to real economy. According to the document, financial institutions are encouraged to offer timely and strong support to technical upgrade projects in...
36% Chinese aluminium smelters see aluminium prices rise this week
SMM surveyed 37 Chinese aluminium smelters about their opinions over aluminium price outlook. About 36 per cent of them expect SHFE 1609 aluminium to hold firm above RMB 12,600/mt and LME aluminium return above USD 1,665/mt, citing several factors. First, Chinese yuan’s big depreciation following...
LME aluminium to move wildly, SHFE 1608 aluminium jumps on tumbling stocks
Manufacturing PMIs from major economies to be released today will leave LME aluminium moving in a wide range of USD 1,635-1,660/mt. SHFE 1608 aluminium will challenge previous highs and move at RMB 12,600-12,800/mt. On Wednesday’s (June 29) night trading, SHFE 1608 aluminium dipped to RMB 12,320/mt...
Aluminium makes a comeback as stocks hit near 5-year low, but the rise unlikely to sustain
SHFE aluminium has made a stunning comeback of late, and the rebound will prove sustainable at least for now as stocks in domestic major markets have unexpectedly hit the lowest in nearly five years, SMM predicts. Source: Reuters As of today, aluminium stocks in China’s five major markets totaled...
China aluminium semis exports to fall in June, SMM expects
China’s aluminium semis exports rose in May, but the growth will be unsustainable in June, SMM predicts. Many Chinese aluminium semis exporters told SMM that they expect exports to drop slightly in June, citing poor overseas demand as the main reason. Besides, some traders will reduce exports...
55% Chinese aluminium smelters see aluminium prices rise this week
SMM surveyed 44 Chinese aluminium smelters about their opinions over aluminium price outlook. About 55 per cent of them expect SHFE 1608 aluminium to hold above RMB 12,300/mt and LME aluminium return to USD 1,630/mt. First, aluminium stocks in China’s five major markets fell 26,000 mt to 337,000 mt...
Large alumina project enters operations in Shandong
Shandong Binzhou Beihai Company put its large alumina project into operations in Shandong recently, the China Nonferrous Metals Industry Association (CNIA) said in its website. The project has an annual capacity of 1 million tonnes, according to the website. In an earilier release, SMM predicted...
LME aluminium to swing wildly next week, SMM expects
LME aluminium will move in a wide range next week, SMM says. Market attention will focus on what monetary policies major economies will introduce after the UK leaves the EU. The US dollar index will have big impact on LME aluminium. SMM sees LME aluminium at $1,580-1,640 per tonne, with support at...
When will China aluminium stocks enter turning point? SMM reports
Aluminium stocks in China’s five major markets have been falling steadily, though the pace has slowed down significantly. Market is now most concerned with when stocks will begin growing. Aluminium capacity is being restarted, albeit slowly. Aluminium ingot shipments from northwest China will keep...
