ADC12 consolidates on a strong note as costs rise and orders see marginal improvement
Aluminium scrap: This week, China's aluminium scrap market price centre edged up alongside primary aluminium. As of September 10, SMM A00 aluminium prices closed at RMB 24,560 per tonne, up RMB 210 per tonne from RMB 24,350 per tonne last Thursday. Domestic aluminium scrap prices followed with...
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...
Grow with
AL Circle
LME aluminium to outperform SHFE aluminium
LME aluminium will move at highs of USD 1,550-1,570/mt today, with support at the 5-day and 10-day moving averages, observed SMM in an early morning forecast. SHFE 1607 aluminium will test support at the 40-day moving average and will move at RMB 12,170-12,330/mt due to a lack of market confidence....
China alumina output to grow further in May, SMM expects
China’s alumina output will continue growing in May due to release of restarted and new capacity, SMM predicts based our survey. Alumina price rally, which began in February, has allowed most alumina producers to enter profit territory in terms of cash costs. This triggered massive capacity...
China operational aluminium capacity to grow further in May, SMM Expects
Operational aluminium capacity in China will keep growing in May due to restarted and new capacity, SMM expects. SMM sees about 269,000-tpy increase in operational aluminium capacity, which will bring the country’s aluminium output to 2.6 million tonnes in May, up about 100,000 tonnes from April....
Where will aluminium prices head after two weeks of fall? SMM reports
Aluminium stocks in China’s five major markets plunged 39 per cent from this year’s peak to 570,000 tonnes as of May 13. Aluminium prices, however, got no boost and lost nearly 5 per cent in just two weeks. What was behind the unexpected price decline? Will the light metal search for even lower...
SHFE Aluminium to gather rising strength
SHFE 1607 aluminium will challenge RMB 12,500/mt on May 18 with longs gathering strength, SMM observes LME aluminium will struggle around the 5-day moving average and range USD 1,540-1,560/mt during Asian trading hours Wednesday. Spot aluminium will trade at discounts of RMB 10/mt and premiums of...
About 67% Chinese aluminium smelters expect aluminium prices to rise this week
SMM surveyed 36 Chinese aluminium smelters about their opinions over aluminium price outlook. Those optimists see SHFE 1607 aluminium breaking through the 10-day moving average and LME aluminium rising above USD 1,550/mt. First, aluminium capacity restarts in China are limited. China’s aluminium...
China alumina supply deficit to turn into surplus, SMM predicts
Alumina supply in China will gradually shift into a small surplus with release of new and restarted alumina capacity in May, SMM foresees. SMM estimates about 200,000 tonne supply deficit in domestic alumina market, excluding imported alumina. There is still room for alumina prices to rise in the...
China aluminium stocks fall faster on demand recovery
Aluminium stocks in China’s five major markets fell at a much faster pace last week as demand has picked up, SMM says. Warehouse withdrawals recovered markedly, but arrivals did not keep up pace, SMM learned. Downstream buyers returned to the market as their panic eased after aluminium prices fell...
LME aluminium to correct at lows, SMM forecasts
LME aluminium has found support at the 40-day and 60-day moving averages and will consolidate at USD 1,560-1,580/mt on Thursday. SHFE 1607 aluminium will range RMB 12,000-12,200/mt, with support at the 40-day moving average. In China’s spot aluminium market, spot discounts of RMB 0-20/mt and spot...
Growing supply to limit alumina price gains, SMM expects
While the latest round of alumina price rise in China is nowhere near end, future upside room will be curbed by growing supply from production recovery, SMM predicts. Alumina capacity restarts are still on the rise, while aluminium capacity restarts cannot keep up pace. This means alumina supply...
About 44% of Chinese aluminium smelters expect aluminium prices to stabilize this week
About 44 per cent of the 23 Chinese aluminium smelters surveyed by SMM expect aluminium prices to stabilize this week. Those neutral players see SHFE 1607 aluminium at RMB 12,300-12,500/mt and LME aluminium at USD 1,570-1,610/mt, citing several reasons. First, the price spread between SHFE 1605 and...
China aluminium destocking slows down significantly
Aluminium stocks in China’s five major markets fell at a much slower pace last week, SMM says. Falling aluminium prices dampened buying interest. Besides, operational aluminium capacity grew in late April due to new capacity release. These explained why inventory decline slowed down, Liu Xiaolei,...
About 57% of Chinese aluminium smelters expect aluminium prices to stabilize this week
About 57 per cent of the 46 Chinese aluminium smelters surveyed by SMM expect aluminium prices to stabilize this week. Those neutral players see SHFE 1607 aluminium at RMB 12,600-12,850/mt and LME aluminium at USD 1,650-1,670/mt, citing several reasons. First, the price spread between SHFE 1606 and...
Aluminium stocks fall sharply in China major markets
Aluminium stocks continued falling significantly in China’s five major markets, SMM reports. SMM learned from many warehouses that load-out shipments, though down slightly, were still higher than load-in shipments, allowing stocks to fall steadily. SMM expects aluminium stocks in these five regions...
LME aluminium to find rising strength from SHFE aluminium
LME aluminium will find rising strength from SHFE aluminium this week, SMM predicted Friday, last week. SMM sees LME aluminium advancing to $1,640-1,700 per tonne. Aluminium stocks in China’s major markets continue falling, due to limited capacity restarts and new capacity release. Tight supply...
SHFE aluminium to lack upward momentum
SHFE 1606 aluminium will struggle around the 5-day and 10-day moving averages and move at RMB 12,500-12,700/mt today, SMM said in an early morning forecast. A softer UD dollar and rising crude oil will push LME aluminium up to USD 1,640-1,670/mt. In China’s spot aluminium market, spot discounts of...
SHFE aluminium to face possible short selling
SHFE 1606 aluminium will face possible short selling and move at RMB 12,600-12,800/mt Today, SMM observed in an early morning forecast. Despite hawkish tone during the US Fed’s policy meeting, chance remains small for a rate hike in June. LME aluminium will move at USD 1,630-1,650/mt. In China’s...
LME aluminium likely to find support around moving average, SMM says
Aluminium at London Metal Exchange will move at USD 1,530-1,550/mt today struggling around the 5-day moving average, Shanghai Metals Market foresees. SHFE 1606 aluminium will move at RMB 12,750-12,900/mt, testing support at the 5-day moving average. Spot discounts of RMB 0-40/mt in China's spot...
