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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China’s aluminium capacity to exceed 30-Mln tpy on falling cash costs
China’s aluminium capacity would exceed 30 million tpy by the year’s end and reach over 34 million tpy in 2014, helped by declines in cash costs, Shanghai Metals Market said at its China Metal Summit. The country would have a capacity of 30.3 million tpy to produce the lightweight metal by the end...
SMM Aluminum Products Data Analysis for September 2013
China’s aluminum semis output during September grew slightly from a month ago due to anemic demand. China’s aluminum semis output during September hit 3.64 million mt, a gain of 32.65% YoY and 6.93% MoM. YTD output through September hit 28.57 million mt, jumping 33.56% from a year ago, according to...
SMM Aluminum data analysis for September 2013
China’s aluminum output in September held largely flat with August levels as no smelters cut production and no new capacity came online. China produced 1.86 million mt of aluminum during September, up 11.15% YoY, but flat with August levels. Output from January to September hit 16.21 million mt, a...
Imports & Exports Data Analysis for bauxite in Sept 2013: SMM
China’s bauxite imports soared in September ahead of Indonesia’s possible export ban in 2014, Shanghai Metals Market (SMM) has learned. China imported 7.59 million mt of bauxite during September, surging 347.09% YoY. YTD imports through September totaled 53.498 million mt, also up 76.14% YoY,...
SMM alumina data analysis for September 2013
China’s alumina output rose in September as new capacity came on stream, Shanghai Metals Market (SMM) has learned. China produced 3.95 million mt of alumina in September, an increase of 33.55% from a year ago and up 100,000 mt from August levels. YTD output through September totaled 33.17 million...
Growing supply and faltering demand drive sharp decline in Henan aluminum prices
Aluminum prices in Henan dropped sharply to a discount of 100 yuan per tonne over the Changjiang spot price in mid-October, dragged down by soaring inventories and flagging demand, Shanghai Metals Market (SMM) has learnt. The flow of aluminum ingot into Henan from Gansu Dongxing Aluminum Co., from...
China’s alumina prices stop sliding on cost support
China’s alumina prices have stopped sliding on cost support after having trended down for the past two years due to oversupply, making imports attractive. Shanghai Metals Market (SMM)’s alumina prices have held between 2,260-2,550 yuan ($368-415) per tonne in the past month or so, comparing to...
A356 alloy output and operating rates in China dropped in August
A356 alloy output and operating rates at producers surveyed by Shanghai Metals Market (SMM) dropped in August due to production cuts and suspension. A356 alloy output at the companies surveyed slipped by 4,000 tonnes from July to 102,000 tonnes in August. The average operating rate also edged down...
Chinese aluminium producers reopen closed plants after price rebounds
Some Chinese aluminium producers are reopening closed capacities after recent price rebounds narrowed their losses, Shanghai Metals Market (SMM) has learned. Guangxi Baise Yinhai Aluminium Co. restarted a 100,000-tpy plant in late June and is now running at a total capacity of 200,000 tpy. Guangxi...
Operating rates at aluminum extrusion producers to inch down in July
SMM expects the average operating rate at construction aluminum extrusion producers during July to fall by 3.5% MoM to 67%. The average operating rate at industrial aluminum extrusion producers in July will remain essentially unchanged from June’s 47% given continued sluggish condition in the...
SMM Morning Review: LME aluminum should move within USD 1,810-1,850/mt on 22nd July
The US dollar index fell following Fed Chairman Bernanke’s announcement that any decision to scale back bond-buying program will depend on how labor market and economy perform, buoying commodity prices. LME aluminum held stable at USD 1,800/mt during the early European session, and later broke...
SMM Morning Review: LME aluminum should move within USD 1,820-1,840/mt on 15th July
The US dollar index rebounded last Friday following two days of declines, keeping LME aluminum in check. Investors pulled out of the market ahead of the release of China’s 2Q GDP, causing trading volumes to fall to around 10,000 lots. LME aluminum broke through the 30-day moving average to USD...
SMM Morning Review: LME aluminum should move within USD 1,815-1,845/mt on 12th July
Chinese Premier Li Keqiang recently emphasized the importance of pro-growth policy and economic restructuring, triggering anticipating that the central government will introduce economic stimulus soon. Fed Chairman Bernanke said the Fed will not taper off monetary stimulus for the foreseeable...
SMM Morning Review: LME aluminum should move within USD 1,770-1,800/mt on 9th July
Eurozone finance minister agreed overnight to release bailout funds to Greece, pushing the euro up. Sustainable recovery in the US economy drove US stocks up. The US dollar index inched down as a result, boosting commodity prices. However, longs are cautious ahead of upcoming Chinese economic...
Spot aluminium stockpiles fall for the 13th consecutive week in China
Spot aluminium stockpiles fell for the 13th consecutive week in China as some producers delivered their output to State Reserve Bureau (SRB), according to a survey by Shanghai Metals Market (SMM). Stockpiles of the lightweight metal on a spot basis in China’s four major trading regions – Shanghai,...
SMM Morning Review: LME aluminum should move within USD 1,760-1,800/mt on 1st July
Worries over liquidity crunch in China eased last Friday, which was the last trading day of the first half of the year. US economic data released last Friday night was mixed. Chicago reported that its PMI for June fell to 51.6, the biggest monthly decline in more than four years. On the other hand,...
SMM Morning Review: LME aluminum should move within USD 1,765-1,785/mt on 28th June
Initial jobless claims in the US in the week ending June 22 fell to 346,000. Personal income in the US rose 0.5% in May, and personal spending also grew 0.3%. Pending sales of existing home jumped 6.7% in May, the highest since December 2006. These data signal sustained recovery in the US economy....
Orders in sharp contrast for big and small players in aluminium extrusion sector
SMM survey found that orders at small and medium construction aluminum extrusion producers fell in June with faltering consumption. Large producers, in contrast, reported ample orders. Consumption of construction aluminum extrusion is driven by construction projects and distribution networks....
