The most-traded SHFE aluminium 2612 contract closed at RMB 23,280 per tonne, down RMB 85 or 0.36 per cent from the previous trading day's settlement price. It opened at RMB 23,375 per tonne during the day and fluctuated within a range of RMB 23,250-23,445 per tonne. Prices traded below the MA5 (23,386.00), MA10 (23,300.00), MA30 (23,570.00), and MA60 (23,778.00) moving averages, weakening again after a rebound and showing a consolidating-on-a-subdued-note structure, with the moving averages above forming key resistance pressure. The MACD DIF (-121.7235) remained above the DEA (-168.5361), with the MACD red bar at 93.6251, indicating some convergence in bearish momentum. The core trading range for SHFE aluminium is suggested at RMB 23,000-23,600 per tonne. The LME aluminium 3M contract...
Investor sentiment towards aluminium has turned increasingly bearish, but analysts believe the market may be underestimating the metal's underlying strength. Despite growing pessimism, resilient demand and historically low inventories could support higher prices, with analysts forecasting aluminium to reach USD 3,625 per tonne in 2027. Discussions with market participants have pointed to unusually negative sentiment towards the metal. However, analysts argue that the underlying supply-demand fundamentals paint a more constructive picture, challenging the prevailing pessimism surrounding the aluminium market. Their assessment follows Norsk Hydro's third-quarter financial results, which showed stronger earnings compared with the previous year but fell short of market expectations. The...
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LME aluminium opened at US$2,222 per tonne last Friday and closed at US$2,167 per tonne, down US$56 per tonne or 2.52 per cent. On Friday, September 23, both LME aluminium cash bid price and LME aluminium official settlement price dwindled by US$43 per tonne or 1.95 per cent and US$42.5 per tonne or 1.93 per cent to settle at US$2,152 per tonne and US$2,153 per tonne. 3-month bid price and 3-month offer price plunged by US$43.5 per tonne or 1.96 per cent to record at US$2,171 per tonne and US$2,172 per tonne. December 23 bid price and December 23 offer price dropped by US$41 per tonne or 1.77 per cent and 1.76 per cent to close at US$2,272 per tonne and US$2,277 per tonne. LME aluminium opening stock scored at 340350 tonnes. Live warrants and Cancelled warrants were recorded at 276300...
The chief executive of Rio Tinto, Jakob Stausholm, is concerned about the unshackled flow of Russian aluminium into the US, which is decreasing the competitiveness of North American producers. According to Stausholm, Russian aluminium imports remain exempt from US sanctions, whereas allies like Australia are still subject to Trump-era restrictions. Since taking the helm of Rio at the beginning of 2021, he has been extraordinarily outspoken about the aluminium industry. As the US trade data shows Russia was the third-largest aluminium exporter to the US in August, the warning from the head of one of the world's largest aluminium producers is timely. Even as worldwide buyers refused to purchase Russian metal due to Ukraine-Russia geopolitical crisis, Russian imports last month were up...
On Thursday, September 22, SMM's stockpile of aluminium billets was 106,100 tonnes, down 8,800 tonnes from the previous week. Overall, the market mood remained relatively consistent this week despite slight fluctuations in aluminium prices and minor social inventory reduction due to pre-holiday restocking. In the penultimate trading week before the National Day break, when the downstream players are anticipated to continue the restocking activities, it is expected that the billet inventory will continue to decline a little. The figure below provides further information on the current state of aluminium billet inventories in China: The inventories in Wuxi, Changzhou and Nanchang grew by 300 tonnes, 500 tonnes and 200 tonnes, respectively. As of Thursday, the inventories for the same closed...
This week, the global primary aluminium segment witnessed many important events. To begin with, on Wednesday, the LME aluminium benchmark price dropped to its lowest in 18 months since March 2021 as markets prepared for another significant increase in US interest rates that may stifle economic development. According to Ali Al-Baqali, the Chief Executive of Aluminium Bahrain, customers in Europe are cautious about placing orders for next year owing to recession-related fears, resulting in a fall in demand (Alba). Apart from this, on Tuesday, September 20, Rio Tinto announced that it will join the First Movers Coalition forum, a worldwide endeavour to aid in the commercialization of zero-carbon technology by channelling purchasing power and supply chains, together with more than 50 other...
The LME aluminium benchmark price has slipped by US$79 per tonne this week from September 19 to 23. On Monday, both LME aluminium cash bid price and LME aluminium official settlement price began the week with a decline of US$26 per tonne and US$27 per tonne, respectively, to stand at US$2,231 per tonne and US$2,232 per tonne, respectively. On Tuesday, the prices rose by US$14 per tonne and US$13.50 per tonne to rest at US$2,245.50 per tonne but dropped to an 18-month low on Wednesday, September 21, by 2.4 per cent to US$2,189 per tonne and US$2,191 per tonne. On Thursday, the prices increased again by US$6 per tonne and US$4.50 per tonne to US$2,195 per tonne and US$2,195.50 per tonne but ended the week with a sharp fall to US$2,152 per tonne and US$2,153 per tonne, respectively. 3-month...
Hindalco Industries Limited increased its aluminium ingot and aluminium products prices on Friday, September 23, followed by a cut on the previous day. The company added INR 2,500 per tonne to its aluminium ingot price to sell the product at INR 203,750 per tonne versus INR 201,250 per tonne on September 22. Hindalco’s aluminium wire rod price also gained INR 2,500 per tonne on September 23 to come in at INR 214,850 per tonne. On September 22, the wire rod price stood at INR 212,350 per tonne, down by INR 3,000 per tonne from September 20. Hindalco’s aluminium billets price was no exception but also experienced a growth of INR 2,500 per tonne from INR 215,350 per tonne to INR 217,850 per tonne. Hindalco Industries links its aluminium ingot and aluminium products prices to the three-month...
According to the Shanghai Metals Market, primary aluminium inventories in China witnessed a decrease of 9,000 tonnes week-on-week across eight major consumption areas, including SHFE warrants. Therefore, on Thursday, September 22, the inventories totalled 666,000 tonnes, which in comparison with the month’s third Monday, September 19, shrunk by 19,000 tonnes. As of now, the inventories in September dropped by 122,000 tonnes as recorded in the same period last year and by 11,000 tonnes than in August. Mainly, the inventory decreased in Wuxi, Nanhai and Hangzhou with arrivals from Wuxi and Gongyi being affected by prevailing pandemic restrictions and curtailed railway transportation in Xinjian. In fact the shipments of aluminium billet from Xinjian were also limited. The Nanhai inventory...
According to the General Administration of Customs, China’s primary aluminium import amounted to 49,300 tonnes in August 2022, reflecting a downfall of 3.35 per cent month-on-month and 53.3 per cent year-on-year. That brought the total imports during January-August to 297,600 tonnes, a year-on-year plunge of 71.1 per cent. The net import in August stood at 43,200 tonnes after shrinking by 0.43 per cent from the previous month. On a year-on-year calculation, the net import in the said month shrank by 58.9 per cent. During January-August, China’s net imports of primary aluminium totalled 107,200 tonnes, down by 89.54 per cent from the corresponding period of the last year. Russia was the leading exporter of the metal, supplying 42,000 tonnes, which accounted for 84.5 per cent of China’s...
LME aluminium opened at US$2,200.50 per tonne on Thursday and closed at US$2,223 per tonne, an increase of US$20 per tonne or 0.91 per cent. LME aluminium cash bid price has increased by US$6 per tonne or 0.27 per cent to settle at US$2,195 per tonne, and LME aluminium official settlement price has risen by US$4.50 per tonne or 0.2 per cent to rest at US$2,195.50 per tonne on Thursday, September 22. 3-month bid price has dropped by 0.07 per cent or US$1.50 per tonne to stand at US$2,214.50 per tonne, while the 3-month offer price has witnessed a US$2.50 per tonne or 0.11 per cent slump, closing at US$2,215.50 per tonne. December 23 bid price and December 23 offer price both lose 0.17 per cent or US$4 per tonne, stopping at US$2,313 per tonne and US$2,318 per tonne, respectively. Domestic...
In August 2022, primary aluminium production in Africa inched up by only 1,000 tonnes month-on-month to stand at 141,000 tonnes, found the International Aluminium Institute. In July, the output had grown by 5,000 tonnes or 3.7 per cent from 135,000 tonnes in the previous month. On a year-on-year calculation, primary aluminium production in August also edged 5,000 tonnes or 3.7 per cent higher than 136,000 tonnes, showed IAI. In the first eight months of 2022, Africa’s primary aluminium production totalled 1.083 million tonnes, up by 2.95 per cent from 1.052 million tonnes during the same period last year. Africa’s daily average production of primary aluminium from January to August stood at 35,600 tonnes, up by 1,000 tonnes from 34,600 tonnes a year ago. In August, daily output in Africa...
The Mission Possible Partnership (MPP) has attracted more than 200 industry leaders to support efforts to decarbonize some of the world's most challenging and carbon-intensive industries. More than 60 companies have endorsed new plans presented at New York Climate Week for producing near-zero emissions materials - aluminium, ammonia and steel, increasing the number of endorsements for MPP's Sector Transition Strategies (STS) that include aviation, shipping and trucking to over 200. Among the signatories are steelmakers Rio Tinto, ThyssenKrupp, Vale, ArcelorMittal, CSN, Liberty Steel, SSAB and Tata Steel. Other companies include aluminium manufacturers like EGA, Alcoa and Rio Tinto Aluminium, while ammonia producers CF Industries, BASF, SABIC and Yara, and renewable energy companies...
LME aluminium opened at US$2,250.5 per tonne on Wednesday and closed at US$2,203 per tonne, down US$52 per tonne or 2.31 per cent. On Wednesday, September 21, aluminium prices dropped to their lowest in 18 months since March 2021 as markets prepared for another significant increase in US interest rates that may stifle economic development. Both LME aluminium cash bid price and LME aluminium official settlement price nosedived by US$56 per tonne or 2.49 per cent and US$54.5 per tonne or 2.42 per cent to halt at US$2,189 per tonne and US$2,191 per tonne. 3-month bid price and 3-month offer price plunged by US$49 per tonne or 2.16 per cent and US$48 per tonne or 2.11 per cent to record at US$2,216 per tonne and US$2,218 per tonne. December 23 bid price and December 23 offer price declined by...
Around the world, the effects of digital transformation are notable and pervasive. Digitalization has substantially advanced through time and given rise to cutting-edge technologies like AI, robotics, IoT, and many more. Aluminium is one of the top worldwide sectors adopting these advanced digital technologies and transforming its companies into Smart Enterprises. Some of the most prominent developments in the sector brought about by digital transformation include lowering manufacturing costs, increasing production efficiency, reducing operating time, and promoting sustainability. As part of its effort to shed more light on how digital transformation has changed the industry, AlCircle has launched its e-magazine titled "Digital Transformation in the Aluminium Industry: Drivers & Change...
Vedanta Limited has added INR 1,250 per tonne to its aluminium ingot and aluminium products prices, with effect from Wednesday, September 21. That followed a cut of INR 3,250 per tonne on Tuesday, September 20. On September 21, Vedanta’s aluminium ingot price has come in at INR 207,500- 237,000 per tonne versus INR 206,250-235,750 per tonne on September 20. Aluminium wire rod price is currently ranging between INR 215,000- 222,500 per tonne since a raise today, in contrast to INR 213,750-221,250 per tonne on the previous day. Vedanta’s aluminium billets price is standing at INR 216,500 per tonne compared to INR 215,250 per tonne on a day ago. Vedanta’s aluminium price rise on September 21 is in line with an increase of US$13.50 per tonne in the three-month futures of alumsinium on the...
According to the data released by the International Aluminium Institute, world primary aluminium production stood muted at 5.888 million tonnes in August 2022 compared to 5.878 million tonnes a month ago. But the output in July reflected a hike of 3.78 per cent month-on-month from 5.664 million tonnes. On a year-on-year calculation, world primary aluminium output in August marked a rise of 3.53 per cent from 5.687 million tonnes. In the first eight months of 2022, world primary aluminium production totalled 45.448 million tonnes, up by 0.72 per cent from 45.125 million tonnes. Among the major primary aluminium producing countries, China churned out 3.5 million tonnes of the metal in August 2022, in contrast to 3.497 million tonnes in July. That reflected a month-on-month restraint, but on...
On Tuesday, September 20, Rio Tinto announced that it would join the tribe of more than 50 companies to be a part of the First Movers Coalition forum, a global initiative to help commercialise zero-carbon technologies by channelising purchasing power and supply chains. Companies with a combined market value of about $8.5 trillion across five continents represent the forum with a common interest in creating early markets for innovative clean energy technologies. The forum has companies from the aluminium, aviation, chemicals, concrete, shipping, steel, and trucking industry responsible for 30 per cent of global emissions. Soon the emission is estimated to rise to over 50 per cent if no urgent step is taken on clean technology innovation. Rio Tinto is on the way to achieving net zero...
Introduction – What is digital transformation Digital Transformation is no longer a foreign term by any means to anybody. Over the past three years, it added a lot of fuel to its growth due to the pandemic situation which restricted physical movement to a great extent and compelled industries to go digital to great extent. Amid the slowing economic activity, digital adoption has been increasing at an unprecedented rate. However, all of it may not be branded as Digital Transformation, but rather the acceleration along the path towards that goal. Let us take a step back and understand such a journey for any organization. Digital transformation is the end goal of a journey which starts with digitization. The traditional definition of digitization is converting any form of physical...
LME aluminium opened at US$2,256 per tonne on Tuesday and closed at US$2,255 per tonne, up US$6 per tonne or 0.27 per cent. LME aluminium cash bid price has risen by US$14 per tonne or 0.63 per cent to settle at US$2,245 per tonne and LME aluminium official settlement price gains US$13.50 per tonne or 0.60 per cent to rest at US$2,245.50 per tonne on Tuesday, September 20. 3-month bid price has ascended by 0.84 per cent or US$19 per tonne to stand at US$2,265 per tonne, while the 3-month offer price has witnessed a similar hike in percentage, closing at US$2,266 per tonne. December 23 bid price and December 23 offer price both earns 0.85 per cent or US$20 per tonne stopping at US$2,355 per tonne and US$2,360 per tonne, respectively. LME aluminium opening stock continued to decrease by...
