Aluminium quotations were stable today, but silicon prices surged to over 6000 yuan/mt, which made it difficult for the secondary aluminium casting alloy producers to purchase aluminium scrap.

Li Hui, Deputy Director General of the Comprehensive Department of the National Development and Reform Commission, said at a routine press conference that, in order to ensure commodity supply and price stability, the State Food and Material Reserves Bureau has launched the third batch of national reserves of copper, aluminum and zinc on September 1, totaling 150,000 mt. And so far, the three batches have accumulated to 420,000 mt of copper, aluminum and zinc.

Shanghai base metals basically rose across the board on Thursday morning on dipping US dollar index. Meanwhile, their counterparts on LME were trending mixed.

Domestic alumina prices have repeatedly hit this year’s new highs recently amid brisk trades, with no signs of retreat in the foreseeable future. As of September 9, the SMM weighted average alumina price index stood at 3,189 yuan/mt. The average prices in north and south China were 3,225 yuan/mt and 3,000 yuan/mt respectively.

Shanghai base metals basically trending higher across the board on Thursday morning after Fed’s Beige Book indicated the slower US economic growth and growing inflation rate. Meanwhile, their counterparts on LME trended mixed.

This is a roundup of China's metals weekly inventory as of September 3.

SMM data showed that China’s social inventories of aluminium across eight consumption areas rose 12,000 mt on the week to 753,000 mt as of August 26.

Shanghai base metals generally went down on Thursday morning after Fed’s hawkish statement. Meanwhile, their counterparts on LME trended mixed.

SHFE aluminium kept fluctuating upward in July and broke through 20,000 yuan/mt on July 31. The prices hit a new high at 20,190 yuan/mt since May 12 this year on August 1, but then fell back amid the bearish factors in macroeconomics.

The most-traded SHFE 2109 aluminium contract moved up after opening at 19,450 yuan/mt last week, and hit a high of 20,105 yuan/mt on Friday.