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Category: Aluminium

China urges metals industry to curb price inflation 1 Aluminium Copper Covid-19 Iron 

China urges metals industry to curb price inflation

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Following an industry meeting on Sunday, the Chinese Government has urged its mining sector to work together and step away from speculation and price inflation, with global metal demand left in flux by the Covid-19 pandemic. The meeting, chaired by China’s National Development and Reform Commission (NDRC) and five other state bodies, included a number of private steel, iron and aluminium producers, who were urged to not further drive up metals prices, which have risen sharply this year. Between 4 January and 10 May, the price of aluminium on the… Read More Here
Aluminum price sinks on China’s move to sell state reserves 2 Aluminium 

Aluminum price sinks on China’s move to sell state reserves

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Aluminum prices sunk on fears that Chinese authorities might release ingots to the market, further pressing rising supply concerns in the world’s top consumer of the metal. Aluminum for delivery in June was down 2.86% on Tuesday, after futures touched $2.229 a tonne on the Comex market in New York. The most-traded May aluminum contract on the Shanghai Futures Exchange dropped as much as 6% to 16,480 yuan ($2,531.33) a tonne, its lowest since February 22. It pared some of the losses later in the session to close 2.6% lower… Read More Here
Increasing supply from China to cap aluminum price – report 3 Aluminium 

Increasing supply from China to cap aluminum price – report

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Expect to see a broader recovery in global aluminum demand alongside a forecast rebound in global economic growth, market analyst Fitch Solutions says in its latest industry report. An increase in global supply driven by a rise in Chinese exports, Fitch says, will limit the scope of the reduction in the production balance. Fitch maintains its 2021 aluminum price forecast of $1,850/tonne, up from $1,731/tonne in 2020 during the covid-19 pandemic. The analyst expects to see increasing supply from China in the global market, which will cap the rise in prices. Fitch expects to see a… Read More Here
China 2020 aluminum output climbs to record high 4 Aluminium 

China 2020 aluminum output climbs to record high

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China’s aluminum production in 2020 rose 4.9% from the prior year to a record 37.08 million tonnes as smelters cashed in on soaring prices, with December output hitting a monthly all-time high even as the rally cooled. Primary aluminum production in December was 3.27 million tonnes, the National Bureau of Statistics (NBS) said on Monday. That was up 2.8% from 3.182 million tonnes in November, which had one less day, and beat the previous monthly record of 3.2 million tonnes in October. Full-year output in China, the world’s largest aluminum… Read More Here
Metso Outotec sells aluminum business 5 Aluminium International 

Metso Outotec sells aluminum business

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Metso Outotec announced that it is selling its aluminum business to France’s REEL International for an undisclosed amount. In a press release, Metso said that the business to be divested comprises green anode plants, anode rod shops, and casthouses used in aluminum smelters as well as related equipment and services.  The Finnish company said that upon closing of the transaction in Q1-2021, it is expected that some 120 Metso Outotec employees will join REEL. “It’s rare to find another business with such a complementary product portfolio in primary aluminum technology, and… Read More Here
Aluminium demand growth will soon outpace production growth 7 Aluminium International 

Aluminium demand growth will soon outpace production growth

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Research agency Fitch Solutions Country Risk & Industry Research says the global primary aluminium market will remain largely in oversupply, owing to absolute production remaining higher than consumption this year, but the surplus is likely to start narrowing from 2021. This will remain the case up to 2024, before widening again from 2025. From 2025 onwards, Fitch expects the market oversupply to widen again, as demand will benefit from construction industry growth in key countries and the growing recognition of aluminium as a lightweight substitute for steel in automotive. Fitch further explains that global aluminium production will continue to rise over the coming… Read More Here
Metals markets Aluminium Copper Global markets Iron Iron & Steel 

Metals markets to move into surplus — report

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Most metals markets will move into surplus in 2020 due to the covid-19 pandemic, according to Fitch Solutions latest market report.  The research agency has revised down its forecasts for both consumption and production of metals for a number of countries over recent weeks. “Operational hurdles as a result of covid-19, especially for smelters located in countries where governments ordered lockdowns, and voluntary production curtailments as a result of the collapse in metal prices will result in lower 2020 metal production compared to our previous forecasts,” Fitch analysts say. The firm expects… Read More Here
Key trends for aluminum in 2020 10 Aluminium International 

Key trends for aluminum in 2020

Copperbelt Katanga News
     China’s ability to absorb surplus, potential supply disruptions in the Middle East and the global energy transition are key to the outlook for aluminum in 2020, according to UK-based research and consultancy group Wood Mackenzie. Chinese capacity Wood Mackenzie forecasts more than 1 million tonnes of new aluminum smelter capacity to be added in 2020, with an estimated demand increase of only a third of that figure. While greenfield capacity commissioning and restarts will likely stay on target, high-cost smelters may buckle under the strain of low London… Read More Here

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