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Top Stories

Aluminium Market

Macro and fundamentals intertwined with bullish and bearish forces, short-term aluminium prices expected to mainly consolidate and adjust
Primary AL
US June CPI fell 0.4 per cent M-o-M, the first month-on-month contraction since 2020, prompting the market to lower its expectations for US Fed interest rate hikes. However, Fed Chairman Warsh bluntly expressed "zero tolerance" for the persistent five-year high inflation, displaying a tough hawkish stance. According to CME data, the probability of a rate hike was 53.5 per cent in September, rising to 61.8 per cent in October and further to 74 per cent in December. The pressure on the valuatio ...
The Southeast Asian secondary aluminium market remains in the doldrums, while the import window has improved but transactions are yet to recover
Recycled AL
This week, imported aluminium scrap prices in China continued to pull back slightly. SMM data showed that the price of imported shredded zorba at Ningbo port was revised down from RMB 21,920 per tonne to RMB 21,820 per tonne, while at Tianjin port it dropped from RMB 21,970 per tonne to RMB 21,770 per tonne, with the decline narrowing W-o-W. An SMM survey learned that, with overseas aluminium scrap and ADC12 offers continuing to pull back, orders for imported aluminium scrap and cast aluminiu ...

SupplementAL
Riding the wave of firmer feedstock costs, the Chinese prebaked anode market has snapped its brief downtrend, with a major smelter in Shandong lifting its July procurement benchmark by RMB 30 per tonne. While current margins remain healthy above breakeven, looming new capacity is set to intensify localised competitive pressure in the second half. Prebaked anode prices rebound RMB 30 per tonne as feedstock costs resurface Driven by rising raw material prices during the settlement cycle, cost ...
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