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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SHFE aluminum to continue outperforming LME aluminum on massive output cut plan
SHFE aluminum will continue faring better than LME aluminum next week on huge scale output cut plans in China, SMM expects. The announcement by 14 major Chinese aluminum smelters that aluminum capacity cuts in China will expand to 4.91 million-tpy in 2015 cheered market up. This will push SHFE...
China aluminium stockpiling on the table, SMM learns
Aluminium prices in China got an immediate boost on Wednesday as news on aluminium ingot stockpiling has been confirmed. SMM has learned that aluminium ingot stockpiling is in the cards, although who and how much to stockpile remains in the air. Major Chinese aluminium smelters have gathered...
Aluminium stocks in major Chinese markets fall for three consecutive weeks
Aluminium stocks in China’s five major trading markets fell for three weeks in a row as of December 3 as production cuts begin yielding fruit, SMM understands. Smelters that used to ship aluminium ingots to major consumption hubs now prefer to ship goods to regions where aluminium capacity was cut...
SMM Survey: 32% of Chinese smelters bullish toward aluminium prices this week
Almost 32% of the 38 Chinese aluminium smelters surveyed by SMM are bullish toward this week’s aluminium prices. Another 52% expect prices to stabilize, while the rest 16% paint a gloomy picture. The optimists expect LME aluminium to return above USD 1,525/mt and SHFE 1602 aluminium to rise above...
China aluminium semis exports to rebound slightly in November
China will see a slight rebound in its aluminium semis exports in November after 6% decline in October, SMM expects. The average SHFE/LME aluminium price ratio slid further to 6.84 in November. Some export orders are due for fulfillment before Christmas holiday. Both will contribute to the growth...
SHFE aluminium to outperform LME aluminium this week
SHFE aluminium will outperform LME aluminium this week on positive news from China, SMM expects. Capacity cuts in Chinese aluminium market are intensifying, which will cheer market up. This will push SHFE aluminum up to 10,300-10,500 yuan per tonne, SMM predicts. A firmer US dollar amid high...
66% of Chinese aluminium smelters bearish toward aluminium prices, SMM survey
66% of the 38 Chinese aluminium smelters surveyed by SMM are bearish toward this week’s aluminium prices . Another 21% expect prices to stabilize, while the rest 13% see a rally. Those pessimists see LME aluminium falling below USD 1,450/mt and SHFE 1602 aluminium down below RMB 10,000/mt. Domestic...
Alumina price slump eases losses at Chinese aluminium smelters
Chinese aluminium smelters suffered fewer losses thanks to a slump in alumina prices, SMM found. The average loss at Chinese aluminium smelters surveyed by SMM shrank to less than 1,000 yuan ($156) per tonne in the week ending November 30. This is mainly contributed by an almost 100 yuan per tonne...
LME aluminium to extend upward momentum this week
LME aluminium will extend upward momentum into next week, SMM expects. SHFE aluminium will rise further to 10,400-10,800 yuan per tonne on more short-covering triggered by output out news. And this will push LME aluminium up to 1,500-1,550 per tonne. A firm US dollar amid high expectations for US...
52% of Chinese aluminium smelters bearish toward aluminium prices, SMM survey
52% of the 27 Chinese aluminium smelters surveyed by SMM are bearish toward this week’s aluminium prices. Another 41% expect prices to stabilize, while the rest 7% see a rally. Those pessimists see LME aluminium falling below USD 1,440/mt and SHFE 1602 aluminium down below RMB 9,800/mt. They see...
China aluminium consumption to drop further in 2016, SMM foresees
Aluminium consumption in China is expected to weaken further in 2016, Shanghai Metals Market foresees. “Utilization rates at major domestic aluminium processing enterprises are down on a yearly basis in 2015, such as aluminium plate/sheet, strip, aluminium extrusion , cast aluminium alloy ,...
LME aluminum to fall further to $1,450-1,480 this Week
LME aluminum will fall further to $1,450-1,480 per tonne next week, SMM expects. A firm US dollar amid high expectations for US rate hike this year and concerns over China economic slowdown all bode ill for LME aluminum. Another six Chinese aluminum smelters announced production cuts this past...
SMM sees no alumina price rally in China, despite massive output cuts
Alumina prices in China are nowhere near bottom, despite massive capacity cuts, SMM predicts. Continuous declines in aluminum prices will weaken support on alumina prices from production cuts, SMM aluminum analyst explained. Alumina prices have lost almost 33.7% since the start of the year, pushing...
China aluminium stocks’ collapse might not be indicative of a market turnaround
China’s aluminum stocks stopped growing and fell 37,000 tonnes on a monthly basis as of November 12. However, this slump is unlikely to indicate at a turnaround in market fundamentals. Market players should be aware that aluminum stocks are actually well above 340,000 tonnes seen a year ago, said...
China aluminium inventories to stay high in coming 5 months, SMM foresees
Trading inventories in China’s domestic aluminium market are expected to remain high in the coming 5 months, Shanghai Metals Market expected at the annual summit in Shanghai. “No big drop in aluminium inventories is expected in China’s domestic trading market from November to next March, and high...
SMM sees LME aluminium mired around $1,500 per tonne this week
LME aluminium will be stuck around $1,500 per tonne next week, SMM says. Weak SHFE aluminium , a firm US dollar and concerns over demand in China will keep LME aluminium in check. SHFE aluminium should range 10,100-10,350 yuan per tonne, as market fundamentals remain poor. In China’s spot market,...
November aluminium price forecast by SMM: Alcoa, LME round-up and impact
Aluminium prices inched higher last week boosted by Alcoa‘s production declines. Physical premiums too improved slightly driven by the recent short-term price movements. However, there is even more to look at for those investing in firms like Alcoa, Rio Tinto Group and Norsk Hydro – notably, the...
China aluminium semis exports to continue losing steam, SMM Sees
China’s aluminium semis exports lost steam in September, a trend to continue as the year goes on, SMM predicts. Falling aluminium premiums and prices overseas, as well as anti-dumping will inhibit outflows of Chinese aluminium semis. Meanwhile, falling profitability has dampened Chinese companies’...
