Futures: The most-traded SHFE aluminium 2610 contract closed at RMB 24,150 per tonne, up RMB 110 or 0.46 per cent from yesterday's settlement price. It opened at RMB 24,120 per tonne during the day and fluctuated in the range of RMB 24,075-24,195 per tonne. Prices traded below MA5 (24,205.00) and...
Vedanta’s share price fell in early trading on the NSE as the Indian stock market declined and rising crude oil prices increased concerns about higher costs for metal companies. The stock opened at INR 431.25 (USD 4.50), down from its previous close, and fell to an intraday low of INR 419.50 (USD...
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As it was predicted by the Shanghai Metals Market last week, China’s social inventories of aluminium ingot tanked by a massive 81,000 tonnes week-on-week across the eight major consumption areas, including SHFE warrants, to halt at 706,000 tonnes as of Thursday, May 18. It is a good sign that the...
A recent report states Britain will ban aluminium imports from Russia, among other commodities like diamond, copper and nickel. The news came on Friday, May 19, after Britain announced its plans targeting companies allegedly stealing Ukrainian grain. British Prime Minister Rishi Sunak said, “We...
On May 16, the National Bureau of Statistics of China's data revealed that China's primary aluminium output in April 2023 declined by 1.2 per cent when analyzed with March 2023 due to an energy restriction policy in southwest China that restrained aluminium production. The National Bureau of...
LME aluminium opened at US$2,300.50 per tonne on Thursday, with its low and high at US$2,264.5 per tonne and US$2,309 per tonne respectively before closing at US$2,282 per tonne, a drop of US$18 per tonne or 0.78 per cent. The LME aluminium price trends have been on a constant decline in the month...
According to the China customs data on May 18, China's aluminium imports, including unwrought aluminium and products, recorded a rise of 27.1 per cent year-on-year during April 2023, reaching 222,851 tonnes. A year ago, the import volume stood at 175,289 tonnes. On a month-on-month calculation,...
After recording back-to-back growth over the past few days, the A00 aluminium ingot price has dropped by RMB 60 per tonne on Friday, May 19, to reach RMB 18,540 per tonne. On a W-o-W calculation, a hike of RMB 650 per tonne was recorded from RMB 17,890 per tonne on May 12. As per the SMM data, the...
Aluminium alloy ingot (ADC12) prices remained stable W-o-W at INR 199,000 per tonne exw Faridabad due to limited transactions in the market. However, although some vendors quoted higher rates, actual transactions were reported to be in the range of INR 198,000 per tonne-200,000 per tonne after...
Last week, both Hindalco and Vedanta back-to-back cut their aluminium prices on May 11 and 12 in response to the LME aluminium price fall of US$92 per tonne in just two days. However, the companies started the week on May 10 with a rise in their aluminium ingot prices by INR 3,000 per tonne and INR...
The current aluminium price in China has halted at RMB 18,600 per tonne, with a stark increase of RMB 210 per tonne, as the Shanghai Metals Market reported on May 18, Thursday. The average aluminium price trends are between RMB 18,580 per tonne and RMB 18,620 per tonne. The premium prices have...
LME aluminium opened at US$2,261 per tonne on Wednesday, with its high and low at US$2,308 per tonne and US$2,258.5 per tonne, respectively, before closing at US$2,300 per tonne, an increase of US$35 per tonne or 1.55 per cent. On Wednesday, May 17, both LME aluminium cash bid price and LME...
According to local media reports on Wednesday, Uniprom, a company in Montenegro, has closed down the last 12 electrolysis cells at KAP (Aluminium Plant Podgorica), ending aluminium production at the plant after 52 years. However, the facilities for aluminium logs and aluminium alloy production will...
As of May 11, the domestic aluminium billet social inventory closed at 168,600 tonnes, up 10,900 tonnes from the previous week. Inventory grew as a result of continuous cargo arrivals and low downstream consumption. A growing proportion of molten aluminium was converted into billets and other...
Ma'aden, a Saudi state-owned mining company headquartered in Riyadh, is acquiring a 9.9 per cent stake in Vancouver's Ivanhoe Electric for $126.5 million. The news came on Tuesday, May 16, after Ma'aden announced signing an agreement with the American company. As per the deal, Ma'den is purchasing...
LME aluminium opened at US$2,265.5 per tonne on Tuesday, with its low and high at US$2237.5 per tonne and US$2,273 per tonne respectively before closing at US$2,265 per tonne, a drop of US$4 per tonne or 0.18 per cent. On May 16, Wednesday, the LME aluminium cash bid price stopped at US$2,235 per...
On Wednesday, May 17, China’s A00 aluminium ingot price has extended its growth for the third consecutive day by RMB 150 per tonne to settle at RMB 18,390 per tonne. The average prices are expected to range between RMB 18,370 per tonne and RMB 18,410 per tonne. The spot contract price may be traded...
According to the National Bureau of Statistics, China's aluminium production in April 2023 (30 calendar days) fell 1.2 per cent month-on-month at 3.33 million tonnes. In March 2023 (31 calendar days), the output was 3.37 million tonnes, which brought the Q1 production to 9.8 million tonnes. In the...
The current aluminium price in China has halted at RMB 18,240 per tonne, with a levitation of RMB 210 per tonne, as the Shanghai Metals Market reported on May 16, Tuesday. The average aluminium price trends are between RMB 18,220 per tonne and RMB 18,260 per tonne. The premium prices have ranged...
LME aluminium opened at US$2,243 per tonne on Monday, with its low and high at US$2,221.5 per tonne and US$2,280 per tonne, respectively, before closing at US$2,269 per tonne, an increase of US$26 per tonne or 1.16 per cent. On Monday, May 15, both LME aluminium cash bid price and LME aluminium...
