LME aluminium prices softened on September 22, with the cash and three-month contracts declining from the previous trading session, while LME aluminium opening stocks also edged lower on September 23. On September 22, the LME aluminium cash bid price stood at USD 3,240 per tonne, down 0.66 per cent from USD 3,261.5 per tonne on September 21. The cash offer price was USD 3,242 per tonne , down 0.63 per cent from USD 3,262.5 per tonne. The LME aluminium 3-month bid price stood at USD 3,263.5 per tonne on September 22, compared with USD 3,272.5 per tonne on September 21, representing a decline of 0.28 per cent. The 3-month offer price fell 0.27 per cent to USD 3,264 per tonne from USD 3,273 per tonne. Explore the production, demand and consumption forecasts of bauxite and alumina in our...
SHFE aluminium closed at RMB 24,245 per tonne, edging up 0.02 per cent. The price stood above the MA10 (24,236) but was capped by the MA5 (24,386), still well above the MA30 (24,084) and MA60 (23,729.92). The medium-term bullish structure remained intact, while short-term moving average resistance was evident. On the MACD indicator, DIF stood at 102.44 and DEA at 125.85, with the high-level death cross persisting. The green bar narrowed to -46.80 (previous day -50.36), indicating slightly weakening bearish momentum. Trading volume shrank to 52,300 lots, reflecting a strong wait-and-see sentiment in the market. The suggested core trading range for SHFE aluminium is 24,000-24,600. LME aluminium closed at USD 3,266 per tonne, up 0.21 per cent. The price was slightly below the MA5 (3,275.6)...
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Africa produced 133,000 tonnes of primary aluminium in April 2020, a decrease of 1.48% from April 2019. The output reduced by 3.62% from March 2020’s production of 138,000 tonnes but up 4.72% from February 2020’s production of 127,000 tonnes, according to the latest data showed by the International Aluminium Institute (IAI). Primary aluminium production came in at 534,000 tonnes in the first four months of 2020 as compared to 546,000 tonnes in the first four months of 2019. This marked a decrease of 2.2% year-on-year. IAI reported that primary aluminium production in Africa came in at 1.643 million tonnes in 2019 as compared to 1.668 million tonnes in 2018. That was down 1.5 per cent year-on-year.
The US dollar continued its rally against a basket of rivals on Friday. LME aluminium dropped 1.2% and SHFE aluminium lost 0.1%. Three-month LME aluminium slipped to an intraday low of US$1,493 per tonne in European trading hours on Friday. It closed close the day 1.15% lower at US$1,503.5 per tonne. As of Friday May 22, LME aluminium cash (bid) price stands at US$ 1473 per tonne, LME official settlement price stands at US$ 1473 per tonne; 3-months bid price stands at US$ 1498.50 per tonne, 3-months offer price is US$ 1498.50 per tonne; Dec 21 bid price stands at US$ 1616 per tonne, and Dec 21 offer price stands at US$ 1616per tonne. The LME aluminium opening stock stood at 1458100 tonnes. Live Warrants totalled 1226375 tonnes, and Cancelled Warrants were 231725 tonnes. LME aluminium...
Following the steep decline of RMB 310 per tonne on Friday, May 22, the A00 aluminium ingot price begins the week on Monday, May 25, with a rise of RMB 110 per tonne to reach at RMB 13,260 per tonne, found Shanghai Metals Market. The average prices are expected to range between RMB 13,240 per tonne and RMB 13,280 per tonne, with spot contract to be traded at a premium price of RMB 80-120 per tonne. Among the major Chinese states, Linyi has seen the highest growth of RMB 240 per tonne on May 25 to stand at RMB 13,310 per tonne, followed by the rise of RMB 160 per tonne in Foshan to come in at RMB 13,460 per tonne. In Hangzhou and Tianjin, the A00 aluminium ingot price has increased by RMB 140 per tonne to RMB 13,280 per tonne, while the price in Wuxi and Shenyang is standing at RMB 13,260...
Hindalco Industries Ltd has increased prices of its aluminium ingots, billets and wire rods by 2%. This marked the second consecutive in price of the same products. With effect from May 22, the price for Hindalco aluminium ingots are now hovering at INR 133,750 per tonne, an increase of 1.71% or INR 2,250 per tonne from INR 131,500 per tonne on May 20. Hindalco is now selling its wire rods and billets at INR 144,850 per tonne and INR 140,850 per tonne with effect from Friday, 22 May 2020. That was up 1.58% or INR 2,250 per tonne or 1.62% or INR 2,250 per tonne from May 20. The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The three-month futures of aluminium are down more than 19% so far in 2020 due to...
Vedanta has further increased its aluminium ingots and billets prices, with effect from Friday, May 22. This marks the third consecutive rise in Vedanta’s aluminium prices. The prices of some aluminium ingots after the growth are hovering in the range of INR 134,000-147,000 per tonne, up by INR 2,000 per tonne or 1.5 per cent from INR 132,000-145,000 per tonne on May 20. Vedanta’s aluminium ingots prices on May 20 had also increased by 1.5 per cent from INR 130,500-143,500 per tonne on May 19. With the latest hike, Vedanta’s billets prices are now standing at INR 142,000 per tonne, as of May 22, an increase of INR 2,000 per tonne or 1.43 per cent from INR 140,000 per tonne on May 20. On May 19, Vedanta’s billets prices were INR 138,500 per tonne, meaning the billets prices on May 20 saw a...
According to the report by the World Bureau of Metals Statistics (WBMS), World primary aluminium surplus stood at 709,000 tonnes for the first three months of 2020. Aluminium surplus was 761,000 for the whole of 2019. World primary aluminium demand came in at 15.7 million tonnes in the first three months of this year, an increase of 3.5 per cent from last year. Aluminium output increased to stand about 16.4 million tonnes, up by 5.8 per cent. In March alone, primary aluminium demand and production stood at 5.24 million tonnes and 5.54 million tonnes, respectively. China’s primary aluminium production accounted for about 54 per cent or 8.84 million tonnes of the world’s total output, amid higher availability of imported bauxite and alumina. Primary aluminium demand increased by 5.8% year...
A new sector report by Crisil indicates that Indian aluminium producers are likely to sail through the COVID19 impacts smoothly with rising aluminium exports, lower input costs, and cost efficiency strategies curated by the industry. "The domestic sales loss has been offset by companies adroitly exporting more, thanks to high cost-competitiveness that stems from improved sourcing and lower input costs,” said the report. At the beginning of the financial year 2021, the aluminium price was hovering 4-years low at US$ 1,450 per tonne on the London Metal Exchange, while the domestic demand was bleak due to the COVID-19 pandemic-driven lockdown. Although this will squeeze bottom lines this fiscal, but efficient cost structure and adequate cash will lend support to credit profiles and help...
Hindalco Industries Ltd has raised prices of its aluminium ingots, billets and wire rods after cutting the prices of the same products by 4%.With effect from May 20, the price for Hindalco aluminium ingots now stands at INR 131,500 per tonne, an increase of 1.54% or INR 2,000 per tonne from INR 129,500 per tonne on May 16. Hindalco is now selling its wire rods at INR 142, 600 per tonne, a 1.42% rise or INR 2,000 per tonne from INR 140,600 per tonne. The price of billets has increased by 1.46% from May 16 to stand at INR 138,600 per tonne. The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The three-month futures of aluminium are down more than 19% so far in 2020 due to slower global demand following the...
The US dollar rebounded on Thursday, while stocks on Wall Street fell as growing Sino-US tensions and dismal economic data weighed on investor sentiment. The US dollar index, which measures the greenback’s strength against a basket of currencies, rose 0.26 per cent to 99.4425. Three-month LME aluminium rose for a second straight day on Thursday, May 21, advancing to a one-month high of US$ 1,524.5 per tonne before ending up 0.4 per cent at US$ 1,521 per tonne. Optimism surrounding economic recovery that will boost demand, coupled with arbitrage trades, is expected to remain supportive of LME aluminium, which is expected to move at US$ 1,490-1,530 per tonne today. As of Thursday, May 21, LME aluminium cash (bid) price and LME official settlement price recorded a jump of US$ 33 per tonne to...
Social inventories of primary aluminium ingots have continued to fall to as low as 979,000 tonnes, across eight major consumption areas, including SHFE warrants, as of Thursday, May 21, according to Shanghai Metals Market. Last week on Thursday, May 14, the primary aluminium ingots inventories were at 1.058 million tonnes after declining by 114,000 tonnes. This week, the downfall is by 79,000 tonnes, slower by 35,000 tonnes than the previous week. The chart below indicates the current status of primary aluminium inventories across China in more details: As the above chart suggests that the decline in inventories this week has not touched upon all the major Chinese provinces such as in Hangzhou, Tianjin, the primary aluminium stocks have increased by 1,000 tonnes to stand at 112,000 tonnes...
According to Shanghai Metals Market, the A00 aluminium ingot price has extended decline from RMB 13,480 per tonne on May 20 to RMB 13,460 per tonne on Thursday, May 21. The average prices are expected to range between RMB 13,440 per tonne and RMB 13,480 per tonne, with spot contract to be traded at a premium price of RMB 180-220 per tonne. Linyi has seen the highest fall in primary aluminium ingot price today of RMB 60 per tonne to stand at RMB 13,400 per tonne, followed by the fall of RMB 30 per tonne in Wuxi and Hangzhou to hover at RMB 13,440 per tonne and RMB 13,460 per tonne, respectively. In Tianjin and Gongyi, the price has dwindled by RMB 20 per tonne to RMB 13,420 per tonne and RMB 13,435 per tonne, while that in Chongqing has dropped by RMB 10 per tonne to RMB 13,520 per tonne....
The US dollar index rose slightly on Thursday morning, after touching its lowest since May 1 at 99.0014 overnight. Three-month LME aluminium resumed its rally on Wednesday, gaining 1.78 per cent to end at a three-week peak of US$ 1,515 per tonne. Optimism surrounding economic recovery is expected to bolster LME aluminium to US$1,490-1,530 per tonne today. As of Wednesday, May 20, both LME aluminium cash (bid) price and LME official settlement price decreased from US$ 1464 per tonne on May 19 to US$ 1454 per tonne. 3-months bid price and 3-months offer price declined from US$ 1498 per tonne to US$ 1486.50 per tonne. Dec 21 bid price and Dec 21 offer price stood at US$ 1610.50 per tonne, compared to US$ 1623.50 per tonne on the previous day. The LME aluminium opening stock increased from...
Global primary aluminium production stood at 5.255 million tonnes in April, slightly more than that in April 2019, according to the latest data showed by the International Aluminium Institute (IAI) on Wednesday 20 May 2020. On a month-on-month comparison, the output decreased by 3.83% from 5.464 million tonnes. Total aluminium production amounted to 21.304 million tonnes in the first four months of 2020, an increase of 1.53% from 20.982 million tonnes in the first four months of 2019. In Asia ex-China, aluminium production declined by 8.26% year-on-year and 4.31% month-on-month to 333,000 tonnes in April. In January-April, output came in at 1.370 million tonnes, a decrease of 6.1% from 1.459 million tonnes in January-April 2019. In the Middle East, primary aluminium production stood at...
As aluminium enters markets that had earlier been dominated by traditional metals, especially steel, competition and comparisons on energy consumption have caught the eyes of end-use sectors across the world. In 2019, to produce one tonne of aluminium, the average total energy (AC) intensity across the world stood at about 14.2 MWh, while the average process energy intensity stood at 13.4 MWh. Globally, the aluminium industry emits around 450 MT per annum of CO2 equivalents, accounting for about 1% of the world’s total emission. At this juncture, it becomes an absolute imperative to address the issue of high energy-intensive process of aluminium smelting. AlCircle, being always at the forefront of the aluminium industry information circle, has therefore, presented a new Sector Focus...
Vedanta has increased its aluminium ingot and billets price for the second time in a row. With effect from Wednesday May 20, the prices of some aluminium ingots are in the range of INR 132,000-145,000 per tonne. This marks a growth of INR 1500 per tonne or 1.15% from INR 130,500-143,500 per tonne on May 19. With the latest hike, Vedanta’ billet now stands at INR 140,000 per tonne, an increase of INR 1500 per tonne or 1.08% from INR 138,500 per tonne on May 19. The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The three-month futures of aluminium are down more than 20% so far in 2020 due to slower global demand following the coronavirus outbreak. Vedanta’s aluminium business typically accounts for...
The US dollar slipped to its lowest in more than two weeks against a basket of its peers on Tuesday. LME aluminium retreated 0.8% and SHFE aluminium fell 0.4%. Three-month LME aluminium dropped 0.77% to end at US$1,488.5 per tonne on Tuesday. Shanghai Metals Market expects the contract to move at US$1,470-1,510 per tonne today. As of Tuesday May 19, LME aluminium cash (bid) price stands at US$ 1464 per tonne, LME official settlement price stands at US$ 1464 per tonne; 3-months bid price stands at US$ 1498 per tonne, 3-months offer price is US$ 1498 per tonne; Dec 21 bid price stands at US$ 1623.50 per tonne, and Dec 21 offer price stands at US$ 1623.50 per tonne. The LME aluminium opening stock stood at 1436575 tonnes. Live Warrants totalled at 1205925 tonnes, and Cancelled Warrants were...
After four successive jumps ranging between RMB 12,790 per tonne on May 14 and RMB 13,500 per tonne on May 19, the A00 aluminium ingot price has recorded a dip today, on May 20, by RMB 20 per tonne to stand at RMB 13,480 per tonne, found Shanghai Metals Market. Since March 9, the primary aluminium ingot price was hovering below the RMB 13,000 per tonne level due to shrink in demand and consumption caused by the COVID-19 outbreak. After more than two months on May 11, the price rebounded above the benchmark price of RMB 13,000 per tonne, owing to the rise in demand and consumption but weak supply in contrast. Today, the average prices are expected to range between RMB 13,460 per tonne and RMB 13,500 per tonne, with spot contract to be traded at a premium price of RMB 210-250 per tonne....
On 18 th May’20, Soon Lian Holdings, the aluminium supplier made public that Tony Tan Yee Chin resigned as company Chairman and CEO following differences in an opinion he had with two executive directors regarding the execution of the group's strategic direction in the area of resource allocation and cost management. The two executive directors, Tan Yee Ho and Tan Yee Leong, have since been appointed the company's Chairman and CEO respectively. Soon Lian was responding to queries from the Securities Investors Association (Singapore), which was seeking elaboration, on the “differences in views” between the parties. The company stated that under the new leadership, the company will strengthen its partnerships with its stakeholders, scrutinise debt collection to manage cash flow, review...
