LME Aluminum Hits Over 2-Year High after Higher-than-Expected Cut Rumor at Weiqiao Group, SMM Reports

Published: Aug 9, 2017 12:11

Save

LME aluminum hit its highest level since December 2014 at $ 2,035/tonne last night as rumor is flying about output cut at Weqiao Group.

SHANGHAI, Aug. 9 (SMM) – LME aluminum hit its highest level since December 2014 at $ 2,035/tonne last night as rumor is flying about output cut at Weiqiao Group.

When Will China Aluminum Stocks Peak After Hitting Record High? SMM Reports

Meanwhile, SHFE 1710 aluminum also recorded its new high since May 2012 at 16,330 yuan/tonne last night.

Breaking News: Weiqiao Group and Xinfa Group Ordered to Close Illegal Aluminum Capacity

Rumor has it that Weiqiao Group said its output cuts will be higher than expected.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.

LME aluminum prices SHFE aluminum prices aluminum prices weiqiao group

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

5 hours ago

[SMM Flash News] China Tightens Control Over Primary Aluminum Capacity; Prices Rise in Afternoon Trading

Market reports indicate that China is further regulating the operation of primary aluminum capacity, leading to a reduction in excess production in parts of Guangxi. Market Performance: In the afternoon session, the SHFE aluminum contract closed up 0.53% at 24,570 yuan/ton, having earlier touched a high of 24,710 yuan/ton. Among listed companies, Chalco (China Aluminum) hit the daily price limit with a 10.01% gain, Nanshan Aluminum rose 8.81%, Yunnan Aluminum Co. gained 7.39%, and Hongqiao Holdings climbed 8.14%.

5 hours ago

[SMN Flash News] RTA first Q3 '26 CIF MJP Premium Offer at US$460/mt

Market sources report: RTA first Q3 '26 CIF MJP Premium Offer at US$460/mt. Validity 05 June 2026.

5 hours ago

9 hours ago

【SMM Aluminum Flash News】Tianshan Aluminum's 1.4 Million-Ton Green Project Hits First Power-On Milestone in Xinjiang

On May 24th, the 1.4 million-ton green and low-carbon energy efficiency improvement project for electrolytic aluminum at Tianshan Aluminum, undertaken by the Seventh Metallurgical Installation Company of Guizhou Construction Investment Group, successfully achieved its first power-on milestone. All operational indicators were excellent and met all standards, marking a significant milestone in the project's commissioning. Located in the Xinjiang Uygur Autonomous Region, the project's Seventh Metallurgical Installation Company was primarily responsible for core construction tasks, including civil engineering of the electrolytic workshop, flue gas purification area engineering, electrical installation of the electrolytic workshop, and electrolytic cell fabrication and installation.

9 hours ago