LME aluminium prices advanced on October 28, with cash and three-month contracts posting gains. The Asian Reference Price moved lower, while exchange opening stocks and cancelled warrants declined. Alumina Platts prices recorded a stronger increase. The cash bid rose 0.73 per cent to USD 3,100 per tonne from USD 3,077.50 per tonne. The cash offer increased 0.75 per cent to USD 3,101 per tonne on October 28 from USD 3,078 per tonne previously. Three-month aluminium prices also moved higher. The bid climbed 0.70 per cent to USD 3,083.50 per tonne from USD 3,062 per tonne, while the offer advanced 0.65 per cent to USD 3,084 per tonne from USD 3,064 per tonne. Explore the production, demand and consumption forecasts of bauxite and alumina in our report: " Global Bauxite & Alumina Market...
Copper could climb towards USD 16,000 per tonne over the next six to 12 months, while aluminium may offer a shorter-term trading opportunity following its recent correction, according to Navneet Damani, senior group vice-president and head of research for commodities and currency. Speaking on BusinessLine’s Trending Commodity Picks programme, Damani said copper continued to benefit from supply constraints and demand from emerging industries, while aluminium’s price trajectory had been influenced by fluctuations in energy costs and changing supply conditions. Damani said aluminium had climbed from around USD 3,100 to USD 3,600 per tonne earlier in 2026, supported by increases in electricity, crude oil and coal prices. The metal subsequently corrected towards USD 3,300 per tonne, although...
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Aluminium prices have not shown any improvement, as expected, during the beginning of the year compared to 2023. Analysts from AL Circle have already stated the global aluminium market in H1 2024 is anticipated to mirror 2023. This is primarily due to a slowdown within the Chinese economy, notably within the troubled property and construction industries and the economic deceleration in the world's large economies. Analysts foresee a persistent surplus of the metal throughout 2024, like in 2023 at the end, which was around 800,000 tonnes. It is anticipated that sustained downward pressure on prices will be exerted, given the prevailing weakness in demand. The research arm of Kenanga Investment Bank stated, "We acknowledged that contrary to expectations, China’s reopening has not...
LME aluminum opened at US$2,203.50 per tonne on Wednesday, February 28, with its high and low at US$2,203.50 per tonne and US$2,177 per tonne, respectively, before closing at US$2,191 per tonne, down 0.41 per cent. LME aluminium cash bid price shed off US$15.50 per tonne or 0.72 per cent to stand at US$2,129.50 per tonne, while LME aluminium official settlement price lost US$16 per tonne or 0.75 per cent to settle at US$2,130 per tonne. 3-month bid price and 3-month offer price shrank by US$18 per tonne and US$17.50 per tonne, respectively, to rest at US$2,180 per tonne and US$2,181 per tonne, respectively. December-25 bid price and December-25 offer price closed the day at US$2,398 per tonne and US$2,403 per tonne, respectively, down by US$15 per tonne from the previous day. LME...
On Thursday, February 29, China’s A00 aluminium ingot price hiked by RMB 70 per tonne to settle at RMB 18,860 per tonne, with the spot contract price expected to be traded at a discount price of RMB 30 to a premium price of RMB 10 per tonne. The average price for the same is expected to orbit between RMB 18,840 per tonne and RMB 18,880 per tonne. The prices have shown growth in all the provinces. The price in Wuxi has experienced a growth of RMB 80 per tonne to RMB 18,870 per tonne. In regions like Gongyi, Hangzhou, Chongqing, and Shenyang, it has grown by RMB 70 per tonne to settle at RMB 18,770 per tonne and RMB 18,860 per tonne, respectively. On the same day in Linyi, the A00 aluminium ingot price added RMB 60 per tonne to settle at RMB 18,880 per tonne, followed by a rise of RMB 50...
To comply with the national energy-saving policy and advance Chinalco Group's "double carbon" agenda, Southwest Aluminum and Chinalco Environmental Protection and Energy Conservation Technology (Hunan) have recently achieved the energy-saving refurbishment of their smelting furnace. This move underscores their commitment to green development, focusing on energy conservation and emission reduction. As a result, the energy-saving rate for natural gas consumption per ton of aluminium smelting has surpassed 20%. Adopting dispersed regenerative combustion technology for the No.24 boiler unit in the second part of melting and casting is a strategic move towards further energy efficiency. This technology, which changes the traditional premixed combustion mode, optimizes airflow circulation, and...
Aluminium and its alloy variations have enjoyed extensive use over numerous decades. However, with the rising demand for exceptionally pure materials in advanced technological products, the exploration of high-purity aluminium has garnered substantial interest recently. Aluminium Ingots A7 represent a premium grade of aluminium highly sought after across industries for its exceptional properties and adaptability. Recognized for its remarkable purity and impressive strength-to-weight ratio, aluminium Ingots A7 is a refined form of this metal that holds immense value in the global market. With a chemical composition boasting a minimum aluminium purity of 99.7 per cent, aluminium A7 features minimal impurities like silicon, iron, copper, and other elements. This result in a top-tier...
New Zealand Aluminium Smelters (NZAS) has agreed with Meridian Energy to provide 20MW of electricity to the national grid if needed over 12 weeks this winter. This pact allows Meridian to inject 20MW back into the system during winter's peak demand periods when the national grid faces its most significant strain. This 20MW offering is in addition to the existing 50MW demand response arrangement already established with Meridian, as highlighted by NZAS. Beginning June 3, 2024, Meridian can request up to 20MW of electricity at any point for a maximum of four trading periods (equivalent to two hours) per day. This arrangement can occur up to 20 trading periods within a fortnight, during which Tiwai will scale back its consumption to fulfil the request. New Zealand Aluminium Smelters...
According to the Shanghai Metals Market survey, China’s domestic A00 aluminium ingot price has dropped by RMB 20 per tonne, following an intermittent rise of RMB 110 per tonne the previous day. Thus, on Wednesday, February 28, the A00 aluminium ingot price has come in at RMB 18,790 per tonne, with average prices ranging between RMB 18,770 per tonne and RMB 18,810 per tonne. The spot contract is likely to be traded at a discount price of RMB 50-10 per tonne. In Foshan, the domestic ingot price has decreased by RMB 40 per tonne to stand at RMB 18,830 per tonne, with average prices hovering around RMB 18,810-RMB 18,850 per tonne. In Wuxi, Hangzhou, Chongqing, and Shenyang, A00 aluminium ingot price has unanimously dropped by RMB 20 per tonne to stand at RMB 18,790 per tonne. In Tianjin and...
LME aluminium opened at US$2,185 per tonne on Tuesday, with its high and low at US$2,208.5 per tonne and US$2,185 per tonne, respectively, before closing at US$2,200 per tonne, up US$18 per tonne or 0.82 per cent. On Tuesday, February 27, both LME aluminium cash bid price and LME aluminium official settlement price moved up by US$5 per tonne or 0.23 per cent and US$5.5 per tonne or 0.25 per cent to close at US$2,145 per tonne and US$2,146 per tonne. As per the LME data, 3-month bid price and 3-month offer price hiked by US$13 per tonne or 0.59 per cent to settle at US$2,198 per tonne and US$2,198.50 per tonne. December 25 bid price and December 25 offer price added US$11 per tonne or 0.45 per cent to clock at US$2,413 per tonne and US$2,418 per tonne. LME aluminium opening stock came in...
On February 27, 2024, the China state-backed research institution Antaike reported that China's aluminium consumption is projected to experience a slower growth rate this year. Specifically, construction sector demand has decreased due to troubled property markets. Let us know about Antaike Founded in 1992 and listed on a new over-the-counter board on Oct 12, 2017, Beijing Antaike Information Co., Ltd. (hereinafter referred to as Antaike) is a state-owned joint stock company, which has become a consulting research centre, data centre, and information centre for domestic nonferrous metals industry. Relying on the industry position and background of China Nonferrous Metals Industry Information Center, Antaike focuses on the analysis and research of production, consumption, market,...
The United States has reportedly ruled out Russian aluminium and nickel from its new set of sanctions, which made several roundups in the media since early February 2024. According to the latest report on Monday, February 26, the United States declared sanctions on more than 500 people and entities in Russia and eliminated base metals, including aluminium and nickel. In early February, there was speculation that the United States might impose a fresh wave of sanctions on Russian aluminium and nickel, following which the prices of the two metals rose, assuming limited supply would occur in the wake of sanctions. Source: Bloomberg Subsequently, the aluminium prices fell as the United States announced the exclusion of aluminium and nickel from its fresh sanctions list. On Friday, February...
On Monday, February 26, LME aluminium opened at US$2,182 per tonne, with its high and low at US$2,195 per tonne and US$2,175 per tonne, respectively, before closing at US$2,182 per tonne, down 0.09 per cent. According to the LME data, LME aluminium cash bid price and LME aluminium official settlement price plunged for the third day in a row. Both the prices shrank by US$16.50 per tonne or 0.77 per cent to initiate the week at US$2,140 per tonne and US$2,140.50 per tonne, respectively. With this fall, the prices hit a one-month low on Monday, attributed to an inventory surge in Shanghai and the withdrawal of sanctions by the United States on Russian metal. On the same day, the 3-month bid price and 3-month offer price slipped by US$11.50 per tonne to come in at US$2,185 per tonne and...
On Tuesday, February 27, China’s A00 aluminium ingot price ascended by RMB110 per tonne to settle at RMB 18,810 per tonne, with the spot contract price expected to be traded at a discount price of RMB 50 per tonne to RMB 10 per tonne. The average prices are expected to stand between RMB 18,790 per tonne and RMB 18,830 per tonne. As per the SMM data, the prices in Gongyi, Hangzhou and Chongqing have expanded by RMB 110 per tonne to peg at RMB 18,720 per tonne and RMB 18,810 per tonne. On the same day, the prices in Wuxi have added RMB 100 per tonne to reside at RMB 18,810 per tonne, followed by a growth of RMB 80 per tonne in Foshan to clock at RMB 18,870 per tonne. The domestic aluminium ingot prices in Shenyang and Linyi have hiked by RMB 60 per tonne to reach RMB 18,810 per tonne. In...
Base metals prices on the London Metal Exchange (LME) generally trended positively for the week ending on February 23, except aluminium, which saw a decline of 1.7 per cent due to increasing stocks. Aluminium stocks at LME warehouses notably rose by over 8 per cent to 580,275 tonnes from 534,925 tonnes. On the LME, three-month aluminium futures decreased to $2,180 per tonne, while nickel prices increased by 6.9 per cent to $17,495 per tonne. Copper prices rose to $8,567 per tonne, marking a 0.9 per cent increase; zinc gained 0.8 per cent to reach $2,405 per tonne, and lead prices saw a 1.5 per cent rise to $2,095 per tonne. In India, there were minor fluctuations in imported and domestic aluminium scrap prices, while prices for P1020 on the primary market declined. Copper and zinc prices...
On February 20, He Shuping, secretary of the Guangyuan Municipal Party Committee, chaired the eighth meeting of entrepreneurs in Guangyuan City along with the Forum on aluminium ingot trade. During this session, he engaged in direct discussions with entrepreneurs and representatives from banking institutions, actively seeking their insights and suggestions regarding the development of supply chain finance and the expansion of the aluminium ingot trade. About the meeting He emphasized the critical need to thoroughly study and implement the guidance provided by the General Secretary during the visits to Sichuan and Guangzhou. Furthermore, he highlighted the necessity of fully executing the decisions and plans set forth by the Party Central Committee and the provincial Party Committee. The...
On Monday, February 26, China’s domestic A00 aluminium ingot price shed off RMB 170 per tonne over the weekend to reach RMB 18,700 per tonne, found the Shanghai Metals Market data. The average prices are expected to range between RMB 18,680 per tonne and RMB 18,720 per tonne, with a spot contract to be traded at a discount price of RMB 50-10 per tonne. Compared to the same period last week , today’s domestic aluminium ingot price stands 0.64 per cent lower than 18,820 per tonne. Similarly, on a month-on-month basis, the price has registered a plunge of 2.2 per cent from RMB 19,120 per tonne. A00 aluminium ingot prices in Foshan and Hangzhou also declined by RMB 170 per tonne over the weekend to stand at RMB 18,790 per tonne and RMB 18,700 per tonne, respectively. In Gongyi and Wuxi, the...
In January 2024, the Gulf Cooperation Council produced 532,000 tonnes of primary aluminium compared to 530,000 tonnes in December 2023 and 525,000 tonnes in January 2023, found the International Aluminium Institute. Meaning, the output in January 2024 recorded a month-on-month growth of 2,000 tonnes or 0.38 per cent and a year-on-year hike of 7,000 tonnes or 1.33 per cent. The average daily production stood at 17,200 tonnes in January 2024 versus 17,100 tonnes in the previous month. On a year-on-year basis, the daily output increased by 1.78 per cent from 16,900 tonnes. According to the IAI data, the Gulf Cooperation Council's primary aluminium production in January 2024 accounted for 8.81 per cent of the world's total output. Compared to the same period last year, the Gulf countries'...
LME aluminium opened at US$2,202 per tonne last Friday, with its high and low at US$2,213 per tonne and US$2,175 per tonne, respectively, before closing at US$2,184 per tonne, down US$17 per tonne or 0.77 per cent. On Friday, February 23, both LME aluminium cash bid price and LME aluminium official settlement price dropped by US$21.5 per tonne or 0.98 per cent to settle at US$2,156.50 per tonne and US$2,157 per tonne. As per the LME data, both the 3-month bid price and the 3-month offer price contracted by US$26.5 per tonne or 1.19 per cent to peg at US$2,196.50 per tonne and US$2,197 per tonne. The LME aluminium price graph revealed that December 25 bid price and December 25 offer price both dipped by US$25 per tonne or 1.02 per cent to stop at US$2,415 per tonne and US$2,420 per tonne....
Amidst a tumultuous turn of events, the price of aluminium has witnessed a surge propelled by speculations of imminent US sanctions against Russia, with the metal industry likely to be a focal point. However, the price gained momentum and dropped again later in the week. The ambiguity surrounding the precise sectors to be impacted has instilled unease among investors, heightened by President Joe Biden's allusion to a forthcoming "major" sanctions package scheduled for unveiling on February 23, 2024. The most recent industry-focused report by AL Circle, titled "Global Aluminium Industry Outlook 2024," provides forecasts for various aspects of the aluminium industry, encompassing primary and secondary aluminium production, as well as consumption and usage across different segments. Here are...
