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SHFE aluminium opened lower but rebounded, though positions declined significantly; alumina continues to consolidate on a weak note
03 Aug 20263MINS
Primary AL
The SHFE aluminium 2608 contract opened at RMB 23,400 per tonne today, reached a high of RMB 23,665 per tonne, hit a low of RMB 23,400 per tonne, and closed at RMB 23,625 per tonne, down RMB 10 per tonne or 0.04 per cent from the previous trading day. Trading volume was 12,000 lots, open interest was 40,300 lots, and daily position change was -5,189 lots. The price stood above the MA5 (23505), MA10 (23357.50), MA20 (23228.50), and MA40 (23362.25), but still below the MA60 (23758.92). The short ...
Silicon market slump prompts Press Metal to reposition PMBT towards aluminium alloys
03 Aug 20262MINS
Downstream
Press Metal Aluminium Holdings Berhad (PMAH) has proposed to acquire an additional 35.6 per cent stake in PMB Technology Berhad (PMBT) for MYR 464.95 million (USD 109.9 million) in cash, a move that will raise its shareholding to about 58.8 per cent and make PMBT its subsidiary. The proposed acquisition covers 664.22 million PMBT shares at MYR 0.70 (USD 0.17) apiece under a conditional share sale agreement signed on August 3. The shares will be acquired from five members of the Koon family: ...

03 Aug 20262MINS
SupplementAL
India's electricity mix underwent a notable shift in July as record renewable energy generation reduced coal's share of power production to its lowest level in a year, even as overall electricity demand continued to climb. Government data showed renewable energy generated 36.25 billion kilowatt-hours (kWh) during the month, marking a 30 per cent increase from July last year and raising its share in the country's power mix to 20 per cent. At the same time, coal's contribution declined to 65.7 ...
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