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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Aluminium price undeterred by China capacity expansion in 2H 2016
The aluminium price outlook still looks bright in the first half of this year, not dimmed by growing aluminium capacity in China, SMM predicted at the recent 2016 Copper & Aluminium Summit in Shanghai. China’s aluminium capacity will expand to 42 million-tpy in 2016 from 39 million-tpy in 2015, SMM...
About 48% of Chinese aluminium smelters bullish over prices this week
About 48 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 11,500/mt and LME aluminium advancing above the 40-day moving average to USD 1,535-1,560/mt, citing positive factors. First,...
Most Chinese aluminium smelters return to profit territory
Most Chinese aluminium smelters have returned to profit-making territory at current aluminium prices , SMM statistics found. The weighted average full cost was 10,774 yuan per tonne at Chinese aluminium smelters in SMM’s survey’s sample in March. SMM calculates that about 2.36 million tonnes, or...
Falling China aluminium stocks to lift prices this week
Aluminum prices will gain momentum from falling aluminum stocks in China’s five major markets, which have posted their first declines since after the 2016 Lunar New Year holiday. SMM sees SHFE 1605 aluminum challenging resistance at 11,500 yuan per tonne and spot discounts in China narrowing to...
About 41% of Chinese aluminium smelters bullish over prices this week
About 41 per cent of the 34 Chinese aluminium smelters surveyed by SMM expect aluminium prices to rise this week. Those optimists see SHFE 1605 aluminium rising above RMB 11,500/mt and LME aluminium advancing above all moving averages, citing positive factors. First, China’s aluminium output fell...
LME Aluminium to underperform SHFE Aluminium this week
SHFE aluminium will gather more steam on positive market fundamentals in China, while LME aluminium will face short selling pressure, SMM expects. Capacity restarts and new capacity release are still limited in domestic aluminium market. Consumption is still in recovery. As such, aluminium stocks...
Aluminium extrusion becomes biggest drag on China
China’s aluminium semis exports fell both on year-on-year and month-on-month basis in January, with extrusion being the biggest drag. Rising SHFE/LME aluminium price ratio and production interruptions around holiday period were to blame for the decline, SMM said. China exported 330,000 tonnes of...
Aluminium smelters to benefit from SHFE delivery warehouse capacity expansion
The Shanghai Futures Exchange (SHFE) recently approved 12 warehouses from eight companies for aluminium delivery. The latest move by the SHFE will help facilitate hedging business for local aluminium smelters and processors, as well as reduce aluminium delivery costs, SMM aluminium analyst Liu...
About 33% of Chinese aluminum smelters bullish over prices this week
About 33 per cent of the 33 Chinese aluminium smelters surveyed by SMM expect aluminium prices to rise this week. Those optimists see SHFE 1605 aluminium rising above RMB 11,500/mt and LME aluminium breaking through USD 1,600/mt, citing positive factors. First, the PBOC’s RRR cuts stimulated home...
SMM: Aluminium MMI hits 4-month high
SMM monthly Aluminium MMI rose to 73 points in March, its highest reading in four months. After a period a period of price stability, aluminium prices are finally showing the first signs of strength, thanks in part to a weaker dollar in February. In their monthly outlook SMM has already recommended...
LME aluminium to gather more strength this week
LME aluminium will gather more rising steam this coming week on positive sentiment in Chinese market, SMM sees. Expectations for demand recovery in Chinese aluminium market will drive LME aluminium up to challenge resistance at $ 1,600 per tonne. The first half of the year will not see massive...
About 64% of Chinese aluminium smelters see prices stabilizing this week
About 64% of the 33 Chinese aluminium smelters surveyed by SMM expect aluminium prices to stabilize this week. Those neutral smelters see SHFE 1605 aluminium at RMB 11,250-11,380/mt and LME aluminium at USD 1,550-1,575/mt. Aluminium consumption in east China is strong, but demand recovery is tepid...
LME aluminium to stay high this week, may retrace to $1,527
Aluminium at London Metal Exchange (LME) will hover at highs this week after another step forward, according to the latest study by Shanghai Metals Market (SMM). SMM sees LME aluminium trading above $1,550 per tonne, with eyes on China PMI and US employment data. Demand recovery will push alumiinum...
About 71% of Chinese smelters bullish over aluminium prices this week
About 71% of the 28 Chinese aluminium smelters surveyed by SMM are bullish over aluminium prices this week. These optimists expect SHFE 1604 aluminium to rise to RMB 11,350-11,500/mt and LME aluminium to rise above USD 1,580/mt, citing a series of positive factors. 1. Longs have been prevailing in...
LME aluminum poised for more gains next week
LME aluminum is on track for gains next week on improved market sentiment, SMM says. LME aluminum should rise to $1,520-1,560 per tonne. SHFE aluminum will advance to 11,100-11,400 per tonne, due to anticipation for a turnaround in aluminum consumption after the week-long holiday. Besides, aluminum...
About 65% of Chinese smelters see aluminium prices stabilizing this week
About 65% of the 20 Chinese aluminium smelters surveyed by SMM expect aluminium prices to stabilize this week. They expect LME aluminium to hover between USD 1,500-1,520/mt and SHFE 1604 aluminium to consolidate at RMB 10,750-10,900/mt. Aluminium stocks in China’s major trading markets grew...
About 51% of Chinese aluminium smelters bearish toward prices this week, SMM survey
About 51% of the 35 Chinese aluminium smelters surveyed by SMM see aluminium prices fall this week. These pessimists expect SHFE 1604 aluminium to fall below RMB 10,600/mt and LME aluminium to fall below USD 1,500/mt. First, spot discounts in domestic spot market have expanded, due to cooling...
China aluminum semis exports to rise 14.4% y-o-y in 2016
China will export 14.4 per cent more aluminium semis in 20016 than the corresponding period previous year, after a spike in 2015, SMM expects. Intensified competition among domestic downstream market players will drive down processing fees for aluminium semis. This, along with improving product...
