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Top Stories

SMM

Trading sentiment in the spot market is weak, and market supply is relatively ample
Primary AL
The SHFE aluminium 2606 contract traded with its centre higher than the previous trading day’s corresponding level in the morning session. Pressured by rising aluminium prices, selling sentiment improved from the previous day, but buying sentiment was relatively soft, as some downstream players had limited acceptance of the higher prices. Market liquidity was ample, and mainstream transactions were concluded on par with to a premium of RMB 10 per tonne against the SHFE July contract. In east ...
Outside China macro bullishness vs. supply bearishness, domestic destocking supports SHFE aluminium bottom
Primary AL
The most-traded SHFE aluminium contract opened at RMB 22,685 per tonne in the night session on July 3, with a high of RMB 22,830 per tonne, a low of RMB 22,685 per tonne, and closed at RMB 22,795 per tonne, down 0.20 per cent from the previous settlement. This session saw a rebound from lows, closing with a small bullish candlestick. The price climbed above the MA5 but remained below all medium and long-term moving averages: MA10 (22,699.69), MA20 (22,942.18), MA40 (23,368.01), and MA60 (23,6 ...

Primary AL
In early June, according to public information, the Kazakh Prime Minister met with the Vice Chairman of Xinfa Group. Xinfa expected that, based on its entire industry chain industrial park construction plan, the project will create a highly integrated production system, achieving full chain production from raw materials to high value-added aluminium products by deeply processing bauxite. After the project is put into operation, the annual alumina capacity is expected to reach 4.8 million tonn ...
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