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...
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Chinese aluminium smelters to face higher power costs
Profit at Chinese aluminium smelters kept expanding, but now is not the time to cheer up yet, SMM noted. Power tariff subsidies to smelters in Qinghai have been cut following aluminium price gains. This, together with rising alumina prices, will deter smelters in Qinghai from bringing idled...
LME Aluminium to hold firm, SMM forecasts
Aluminium on London Metal Exchange will hold firm at USD 1,640-1,670/mt today, SMM forecasts. SHFE 1606 aluminium will challenge resistance at RMB 13,000/mt and move at RMB 12,750-13,050/mt on market bullishness. In China’s spot aluminium market, spot discounts of RMB 0-40/mt are expected over SHFE...
Bounce in oil prices bolster base metals; Aluminium hits six-month peak in London
Aluminium hit a six-month peak on Wednesday as the appetite for risk increased among investors who took a more upbeat view on the Chinese economy and saw commodities as relatively cheap. Analysts attribute the buoyancy in metals markets to the bounce in oil prices. "I think there's some restocking...
Fear overdone over China aluminium semis export rebate removal
It is worried that China will cancel export rebate on aluminium semis as well after its recent decision to remove export rebate on seven industries. SMM deems such concerns as overdone and sees little possibility for China to do so for the foreseeable future, citing three reasons. Currently, China...
Profit expands at Chinese aluminum smelters
Chinese aluminium smelters have posted better profit thanks to continuous aluminium price rise, SMM learned. Profit at those covered in SMM’s survey sample to 900-1,000 yuan per tonne in the week ending April 15. Raw material costs changed little. Smelters in southwest China told SMM that local...
China's restarted and new aluminium capacity unlikely to contribute much to H1 output
Continuous price recovery has triggered restart of idled capacity and commissioning of new capacity in Chinese aluminium market. How much output will those capacities contribute in the first half of this year?- SMM doubts. SMM expects restarted capacity unlikely to exceed 300,000-tpy in the first...
About half of Chinese aluminium smelters see aluminium prices rise this week
About half of the 48 Chinese aluminium smelters surveyed by SMM expect aluminium prices to rise this week. Those optimists see SHFE 1606 aluminium rising to RMB 11,900-12,000/mt and LME aluminium advancing above USD 1,525/mt. China’s PPI rose 0.5 per cent MoM in March, the first month-on-month rise...
Chinese aluminium smelters hit by rising costs from alumina
Majority aluminium smelters in China have been reported to be hit by higher costs in March, especially from alumina, SMM survey found. Average cost at smelters surveyed by SMM rose 3.3 per cent month-on-month in March, driven mainly by 9.6 per cent increase in alumina costs, according to SMM...
LME aluminium to face technical correction
LME aluminium is likely to face technical correction early this week and move at USD 1,505-1,530/mt, predicted SMM. China’s March CPI and PPI are expected to beat forecast. SHFE 1606 aluminium will move at RMB 11,700-11,800/mt, with market sentiment improving. In China’s spot aluminium market, spot...
SHFE Aluminium to face technical correction
SHFE 1606 aluminium will face technical correction after falling below the 10-day moving average, and should move at RMB 11,600-11,750/mt on Friday, SMM forecasts. According to SMM, LME aluminium will trade in a range of USD 1,490-1,510/mt, In China’s spot aluminium market, spot discounts of RMB...
About 51% of Chinese aluminium smelters see aluminium prices rise this week
About 51 per cent of the 45 Chinese aluminium smelters surveyed by SMM expect aluminium prices to rise this week. Those optimists see SHFE 1606 aluminium rising above RMB 12,000/mt and LME aluminium advancing above USD 1,550/mt. First, aluminium stocks in China’s five major markets fell sharply. It...
Aluminium stocks continue falling in China major markets
Aluminium stocks continued falling significantly in China’s five major markets, SMM says. More ingots flowed to central and southwest China from northwest China. Smelters in northwest China increased shipment of aluminium liquid, also reducing the amount of ingots available for sale. It will take...
Aluminium to remain only bright spot among base metals this week
Aluminium will continue to outperform other base metals this week on positive market fundamentals, SMM forecasts. Aluminium stocks kept falling in China’s major markets. China will see limited new capacity and restarted capacity for the foreseeable future. So, market supply will remain tight. SMM...
Where is peak for China aluminium inventory in H1 2016?
Aluminium stocks in China’s five major markets grew steadily after the Chinese Lunar New Year holiday, and reached 928,000 tonnes as of March 15. Could this figure mark the peak for first half of this year? The answer is yes, says SMM aluminium analyst Liu Xiaolei. In fact, the turning point has...
About 43% of Chinese aluminium smelters see aluminium prices rise this week
About 43 per cent of the 42 Chinese aluminium smelters surveyed by SMM expect aluminium prices to rise this week. Those optimists see SHFE 1605 aluminium rising above RMB 11,800/mt and LME aluminium advancing above USD 1,500/mt, citing positive factors. First, many Chinese aluminium smelters have...
China alumina output to rebound in march, SMM expects
China’s alumina output will rebound slightly in March after consecutive months of declines as rising prices will spark capacity restarts, SMM understands. China’s alumina output was 4.25 million tonnes in February, down 7.41 per cent from January and 0.3 per cent from a year ago, SMM survey found....
China aluminium semis exports unlikely to rebound significantly in March
A slump in China’s aluminium semis exports in February sparked concerns over export volumes in March. SMM sees any potential rebound to be marginal. Higher SHFE/LME aluminium price ratio, which climbed above 7.6 in March, will be the main constraint on aluminium semis outflows, SMM explained. Some...
Aluminium touches six-months high in China as metals rise
Aluminium increased for a third day to the highest level in six months as metals advanced in Shanghai after a report that industrial profits increased in China, ending a seven-month losing streak. The London Metal Exchange was closed for a public holiday. The metal used in everything from beverage...
