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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LME aluminium poised for gains this week
LME aluminium is on track for gains this week, SMM expects. The US dollar softened somewhat on weakening expectations for US rate hike. Meanwhile, short-term moving averages of LME aluminium are pointing upward. So, LME aluminium should rise to $1,500-1,530/mt. SHFE 1603 aluminium should continue...
China aluminium stocks fall faster on output cuts and pre-holiday stocking
Aluminium stocks in China’s five major trading markets fell at a faster pace, SMM has learned. SMM attributes the decline to production cuts and downstream stocking before the 2016 Chinese New Year holiday in early February. Production cuts continued affecting aluminium ingot shipments from...
LME aluminium likely to consolidate this week
LME aluminium is expected to consolidate this week, SMM expects. Firm US dollar, depressed global stock market and falling commodity prices will keep LME aluminium in check between $1,470-1,500/mt. SHFE 1603 aluminium should move at 10,700-10,900 yuan per tonne, supported by tight supply in...
Alumina price rally on the upward curve, SMM Says
Alumina prices in China are building up upward momentum after a slump in December, SMM sees. The price rally will be driven by alumina production cuts, stocking before the 2016 Chinese New Year holiday due in early February, SMM aluminium analyst explained. China’s alumina output fell 1.17%...
China aluminium destocking slows on softening consumption
Aluminium stocks in China fell at a slower pace as downstream consumption has softened. Aluminium stocks in China’s five major trading markets fell almost 40,000 tonnes each week on average in December, SMM data showed. However, average weekly decline was just about 5,000 tonnes in the first half...
About 32% of Chinese aluminium smelters bearish toward prices this week
About 32% of the 25 Chinese aluminium smelters surveyed by SMM paint a dismal picture of aluminium prices this week. They are bearish that LME aluminium will fall below USD 1,465/mt and that SHFE 1603 aluminium will drop below RMB 10,600/mt, citing a series of negative factors: 1. Major Chinese...
Price pattern of stronger Shanghai Aluminium prices to change
Base metal prices on the SHFE are expected to be vulnerable to losses this week, Shanghai Metals Market foresees. “China will release a bag of 2015 economic data, and this, coupled with narrower volatility of Chinese yuan in offshore market, will pressure the Shanghai prices, and the condition of...
42% of Chinese aluminium smelters expect prices to stabilize this week
About 42% of the 34 Chinese aluminium smelters surveyed by SMM expect aluminium prices to stabilize this week. These market players expect SHFE 1603 aluminium to consolidate. On the one hand, smelters will open short positions for hedging purpose after SHFE aluminium rise, which will put downward...
China aluminium costs to continue falling after deep declines in December
There is still room to fall for costs at Chinese aluminium smelters in January, SMM says. The downside room will be limited, though, SMM understands. Prices for alumina and prebaked anode will unlikely see sharp declines due to cost support. Power tariff subsidies by local governments will not be...
29% of Chinese smelters bearish toward aluminium prices this week, SMM survey
About 29% of the 34 Chinese aluminium smelters surveyed by SMM are bearish toward this week’s aluminium prices. Those pessimists fear that LME aluminium will fall below USD 1,480/mt and that SHFE 1603 aluminium will drop below RMB 10,600/mt, citing a series of negative factors: 1. Downstream...
China aluminium output growth slows for three consecutive years in 2015
The growth of China’s primary aluminium output slowed for three years in a row in 2015, SMM expects. SMM attributes the slowdown to partly due to the Chinese government’s control over investment in energy-intensive industries, including aluminium. In addition, low-cost aluminium capacity replaced...
SMM sees high possibility for China to hike aluminium semis export rebate in 2016
There is a good chance for China to raise export rebate on deeply processed aluminium semis in 2016 after dosing so during the 2008-2009 global financial crisis, SMM predicts. SMM's prediction is based on the fact that such products have high value-added, and encouraging exports of such products...
38% of Chinese smelters bearish toward aluminium prices this week, SMM survey
38% of the 42 Chinese aluminium smelters surveyed by SMM are bearish toward this week’s aluminium prices . Those pessimists fear that LME aluminium will fall below USD 1,500/mt and that SHFE 1603 aluminium will drop below RMB 10,500/mt. They argued that on-grid power tariffs cuts by the Chinese...
China aluminium stocks fall for six consecutive weeks
Production cuts and improving demand have allowed aluminium stocks in China’s five major trading markets to fall for six consecutive weeks, SMM learns. It should be noted, though, that aluminium stocks in major trading markets are likely to fall at a slower pace in the future, SMM aluminium analyst...
China alumina output to continue falling in December
China’s alumina output will continue falling in December as tumbling prices and massive aluminum production cuts will force more producers to scale back production, SMM expects. Alumina prices are now near or even below cash costs at Chinese alumina producers, dampening production activity, SMM...
79% of Chinese aluminium smelters bullish toward aluminium prices this week
Almost 79% of the 34 Chinese aluminium smelters surveyed by SMM are bullish toward this week’s aluminium prices. The rest 21% expect prices to stabilize. The optimists expect LME aluminium to rise above USD 1,520/mt and SHFE 1603 aluminium to climb above RMB 10,800/mt. Aluminium capacity cuts in...
LME aluminium to find support from China production cuts this week
LME aluminum will find support from aluminium production cuts in China next week, SMM expects. Aluminium stocks in China have been falling for four weeks in a row on growing production cuts. This will support SHFE aluminum , in turn putting a floor under LME aluminium as well. A firm dollar will...
43% of Chinese smelters bullish toward aluminium prices this week, SMM Survey
43% of the 42 Chinese aluminium smelters surveyed by SMM are bullish toward this week’s aluminium prices. Another 33% expect prices to stabilize, while the rest 24% paint a gloomy picture. The optimists expect LME aluminium to rise above USD 1,500/mt and SHFE 1602 aluminium to climb above RMB...
