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[ Aluminium Weekly Market Tracker ]
16 November 2011
The now infamous Australian carbon tax legislation has become law and is expected to be implemented in July next year. The tax will affect 500 of Australia’s biggest polluters, with the aluminium companies being at the forefront of the industries that will see their production costs increased by the tax. This is due to the fact that Australian aluminium smelters use mainly coal as the electricity supply in the energy intensive smelting process and, therefore, have some of the highest emissions-generating power.
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[ Aluminium Weekly Market Tracker ]
01 November 2011
Chinese output of primary aluminium reached an all-time high in September. Although power outages affected the production in some provinces, this was offset by the ramp up in production in other provinces, mostly in western part of China.
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[ Aluminium Weekly Market Tracker ]
25 October 2011
Chinese demand for primary aluminium eased in September following a slowdown in consumption of semi-fabricated aluminium products in both the domestic and international markets.
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[ Aluminium Weekly Market Tracker ]
04 October 2011
Aluminium prices remained most resistant of the base metals to the economic turmoil as the production cost provided some floor for further downside risk. The 16.1% drop in prices from two months ago attracted some dip buyers which may also provide some upward momentum in the short term. However, whether there will be any rally, or to what extent the rally will be still depends on the conditions of general macroeconomic environment.
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[ Aluminium Weekly Market Tracker ]
21 September 2011
The sub-index for China’s new export orders dipped to 48.3 from 50.4 – but this seemed to have little impact on aluminium demand following another week of SHFE inventory drawdown. We expect that this strong demand should translate into increasing imports of primary aluminium as China approaches seasonally stronger Q4.
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[ Aluminium Weekly Market Tracker ]
26 August 2011
SHFE 3-month aluminium prices almost fell back to June’s level last Friday. It may because of the negative market sentiment caused by the fragile macroeconomic environment. However, there are still strong fundamentals to drag the prices back on a rising trend.
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[ Aluminium Weekly Market Tracker ]
29 July 2011
China’s aluminium ingot supply is tightening as fabricators choose to build or move operations closer to aluminium smelters and thus make fewer ingots available for free market trading.
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[ Aluminium Weekly Market Tracker ]
22 July 2011
Another 12,052 tonnes drop in SHFE aluminium stocks proved further tightness in aluminium market. Social housing building projects in China may lead to another boost in aluminium demand for semis in the second half of the year.
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[ Aluminium Weekly Market Tracker ]
29 June 2011
SHFE aluminium stocks experienced a significant drop of 170,674 tonnes year to date, which could indicate strong aluminium demand. However, as the business is entering into a slow summer period, we would not be surprised to see weaker consumption growth.
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[ Aluminium Weekly Market Tracker ]
17 June 2011
Aluminium contract continued its upward trend. However, whether it will maintain the momentum is uncertain, given that downstream demand seems to be slowing: May was the second consecutive month for the auto sales figures to fall and China’s investment on property development is also slowing down.