Jiuquan Iron & Steel to Restart 2 Million-tpy Alumina Capacity in Jamaica

[SMM Analysis: February Operating Rate of Primary Aluminum Billets Hit a Nearly Four-Year Low, Expected to Recover to Peak-Season Levels Seen in the Same Period in Previous Years in March] According to SMM statistics, the operating rate of aluminum billets in February fell sharply by 9.2 percentage points MoM to 41.4%, down 7.7 percentage points YoY. After aluminum prices surged to a record high at the end of January, they saw a sharp correction ....

Among them, the Gulf region was an important consumer market for China in the Middle East: China’s exports of aluminum plate/sheet and strip to Saudi Arabia reached 42,500 mt, and aluminum foil 58,000 mt; exports of aluminum plate/sheet and strip to the UAE reached 103,500 mt, and aluminum foil 93,800 mt; the other four countries (Bahrain, Qatar, Kuwait, and Oman) accounted for combined exports of about 22,000 mt of aluminum plate/sheet and strip and about 11,000 mt of aluminum foil.

The latest US inflation data has been released, showing that seasonally adjusted CPI in February rose 0.3% MoM and was up 2.4% YoY; core CPI increased 0.2% MoM and rose 2.5% YoY, with all figures in line with market expectations. However, the prevailing market view is that the February data has not yet reflected the impact of the sharp rise in oil prices caused by the situation in Iran. Therefore, further data is still needed to support judgment on when the US Fed will cut interest rates again.