The London Metal Exchange (LME) aluminium price graph continues to drop across the pricing and contract segments on the September 24 trading session, reporting declines over the September 23 close . The LME aluminium cash bid slumped from USD 3,239.5 per tonne to USD 3,227 per tonne, rising 0.39 per cent. The offer price moved from USD 3,240 per tonne to USD 3,228 per tonne, dropping by 0.37 per cent. Explore- Most comprehensive and forward-looking industry-focused report — Global Bauxite & Alumina Market Forecast to 2036: Supply–Demand, Trade Flows & Price Outlook The LME aluminium three-month bid contracted from USD 3,258 per tonne to USD 3,252 per tonne, decreasing by 0.18 per cent. The offer price plunged from USD 3,260 per tonne to USD 3,252.5 per tonne, representing a 0.23 per cent...
The transition towards lower-carbon manufacturing is changing how companies evaluate aluminium and copper. Beyond availability and technical performance, buyers are increasingly examining the emissions embedded in the metals they purchase and whether reducing that footprint justifies a higher price. While low-carbon aluminium has developed into an established premium market, low-carbon copper remains at a developing stage, raising the loaded question: How much are buyers willing to pay for lower-carbon metal? Explore the production, demand and consumption forecasts of bauxite and alumina in our report: “ Global Bauxite & Alumina Market Forecast to 2036: Supply–Demand, Trade Flows & Price Outlook ” Why aluminium is further ahead Aluminium has had more time to establish a market for...
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Shanghai Metals Market data showed that social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, came in at 1.131 million tonnes as of Monday June 10. Primary aluminium inventories declined 17,000 tonnes from 1.15 million tonnes on Thursday June 6. This was smaller than a drop of 31,000 tonnes in the previous weekend from Thursday May 30 to Monday June 3. Inventories declined slower over the holiday-extended weekend. The chart below indicates the current status of primary aluminium inventories across all major China markets: Inventories of primary aluminium in Wuxi, Jiangsu and Shanghai dropped 9,000 tonnes and 6,000 tonnes from Thursday, June 6, to stand at 401,000 tonnes and 222,000 tonnes respectively. Stocks in Hangzhou, Zhejiang stood...
According to Shanghai Metals Market, the price of A00 aluminium ingot has recorded further down over the weekend ended on June 10 from RMB 14,060 per tonne to RMB 14,020 per tonne. This indicates that the A00 aluminium ingot price has shrunk by RMB 40 per tonne. The average prices are expected to range between RMB 14,000 per tonne and RMB 14,040 per tonne. Spot aluminium contract is likely to be traded at a premium of RMB 40 per tonne. Since the beginning of the month, the aluminium ingot price had been registering a decline ranging between RMB 14,170 per tonne and RMB 14,020 per tonne and thus, the price is now standing lower than RMB 14,170 per tonne in the same period last month. Today, the ingot price in Hangzhou has recorded a maximum decline in compare with other Chinese cities. The...
A00 aluminium ingot price continued to decline in the week to Thursday June 6. Aluminium ingot price started the week with RMB14170 per tonne and moved downwards to wind up the week at RMB14060 per tonne on Thursday, June 6, 2019. Aluminium price in other major China markets also registered a declining trend throughout the week. Average aluminium price is expected to hover between RMB 14040-14080 per tonne. China market is closed on Friday for the Dragon Boat Festival. Trading will resume on Monday. The average premium came in at RMB20 per tonne on Monday, June. Premium declined to RMB10 per tonne on Wednesday, after remaining flat on Tuesday. It again rose to RMB20 per tonne on Thursday, June 6. As of Thursday, spot aluminium price is likely to trade at a premium of RMB 40 per tonne....
Benchmark aluminium price on London Metal Exchange declined 1.33 per cent from the previous day and closed at US$ 1742.50 per tonne on Thursday, June 6, 2019. As on June 6, Thursday, LME aluminium cash (bid) price stood at US$ 1742 per tonne, LME official settlement price stands at US$ 1742.50 per tonne; 3-months bid price stands at US$ 1773.50 per tonne, 3-months offer price is US$ 1774 per tonne; Dec 20 bid price stands at US$ 1890 per tonne, and Dec 20 offer price stands at US$ 1895 per tonne. The LME aluminium opening stock dropped to 1114125 tonnes. Live Warrants totalled at 708825 tonnes, and Cancelled Warrants were 405300 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 1767.46 per tonne. SME and SHFE Aluminium Price Trend China market is closed on Friday, 07...
Hindalco Industries Ltd. has cut the prices of aluminium products by nearly 2% with effect from Wednesday, trade sources told Cogencis. With this price cut, rates of the company's products have slipped to a multi-month low. The rates are down more than 7% compared to the previous quarter. The three-month futures of aluminium on the London Metal Exchange, to which the company generally links prices, is also down 7% in the same period. Hindalco's aluminium operations, excluding those of US-based subsidiary Novelis Inc, generally account for nearly half of the company's sales and 70% of its operating profit. At 1128 IST, shares of Hindalco Industries were down nearly 1% at 196.10 rupees on the National Stock Exchange.
Rusal, one of the largest aluminium producers in the world has signed a cooperation agreement with Russian Railways (RZD) at the St. Petersburg International Economic Forum for the rail transportation of agreed cargo volumes from Rusal. RZD is one of the three largest transport companies in the world. “RUSAL has always been interested in establishing long-term mutually beneficial cooperation with Russian Railways, our long-standing and reliable partner. This agreement will further reinforce our business relationship, allowing us to optimize logistics and ensure the stable operation of enterprises and the development of the supply chain to customers,” commented Evgenii Nikitin, CEO of RUSAL. Under the agreement, RUSAL would present the cargo according to the pre-agreed schedules with the...
The International Aluminium Institute (IAI) Chair Gervais Jacques said IAI Board of Directors has selected Miles Prosser as the next Secretary General of the IAI. He will take over from the current Secretary General, Ron Knapp, in January 2020. IAI said Miles is currently the Executive Director of the Australian Aluminium Council and in that role has interacted with the work of the IAI for many years and is well acquainted with the high quality team at IAI. Prosser said: "I am excited by the opportunity of working on behalf of the aluminium industry at a global level and anticipate early priorities to be the management of bauxite tailings/residue and providing value to IAI’s diverse range of members, geographically and along the aluminium supply chain." The International Aluminium...
Shanghai Metals Market data showed that social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, stood at 1.15 million tonnes as of Thursday June 6. Primary aluminium stocks declined 64,000 tonnes from 1.212 million tonnes on Thursday May 30. Inventories continued to decline in the week to Thursday June 6, due to limited arrivals and brisk demand. The chart below indicates the current status of primary aluminium inventories across all major China markets: Primary aluminium stocks in Wuxi, Jiangsu dropped 24,000 tonnes from Thursday, May 30, to stand at 410,000 tonnes today. Inventories in Shanghai and Nanhai, Guangdong, declined 23,000 tonnes and 2,000 tonnes from May 30 to stand at 228,000 tonnes and 253,000 tonnes; in Gongyi, Henan,...
The US dollar recovered from earlier losses on Wednesday as stronger-than-expected US services sector growth countered weak jobs data. LME base metals closed lower and aluminium dropped over 1%. SHFE aluminium declined close to 0.3%. The LME cash contract closed Wednesday’s trading higher at US$ 1766 per tonne. A rebound in the US dollar forced three-month LME aluminium to relinquish earlier gains to close Wednesday 1.04% lower at US$1,766.5 per tonne overnight. The loading up of short positions primarily accounted for the losses in LME aluminium on the day. LME aluminium is expected to trade between US$1,760-1,820 per tonne today. As on June 5, Wednesday, LME aluminium cash (bid) price stood at US$ 1765.50 per tonne, LME official settlement price stands at US$ 1766 per tonne; 3-months...
A00 aluminium ingot price recorded a drop on Thursday, 06 June 2019 to RMB 14060 per tonne, after remaining flat at RMB 14100 per tonne on Wednesday, 05 June. Ingot price declined RMB40 per tonne or 0.28 per cent. The average price is expected to range within RMB14040-14080 per tonne. Spot aluminium price is likely to be traded at a premium of RMB40 per tonne. Aluminium ingot price in Foshan stood at RMB 14140 per tonne, a decrease of RMB50 per tonne or 0.35 per cent from RMB 14190 per tonne. The average price is expected to range at RMB14120-144160 per tonne today. Ingot price in Wuxi and Hangzhou declined RMB 65 per tonne and RMB 40 per tonne to stand at RMB 14045 per tonne and RMB 14100 per tonne. Aluminium ingot price in Chongqing, Shenyang, Tianjin, Linyi and Gongyi declined to stand...
Norsk Hydro in the financial report of the first quarter of FY2019-20 reportedly posted that its underlying earnings before financial items and tax came in at NOK559 million, compared with NOK3147 million in the same quarter last year. This sharp decline in underlying earnings reflects lower realised aluminium prices, higher raw materials costs, and the effects of the production curtailment at the Alunorte alumina refinery. Underlying EBIT for bauxite and alumina stood down from NOK741 million in Q1 2018 to NOK153 million in Q1 2019, while EBIT for primary aluminium declined from NOK823 million in Q1 2018 to NOK771 in Q1 2019. Underlying EBIT for rolled products and extruded solutions decreased as well, from NOK232 million in Q1 2019 to NOK138 million in Q1 2019 and from NOK 734 million...
The US dollar dipped on Tuesday after comments from Federal Reserve Chair Jerome Powell fuelled expectations of a cut in interest rates. LME base metals closed mixed on Tuesday. Aluminium climbed 0.6%. SHFE base metals also saw mixed performance overnight. Aluminium traded marginally lower. After closing the day's trading weaker, the three-month LME aluminium got boosted by the falling greenback on Tuesday. The contract gained 0.62% to close at US$1,785 per tonne overnight. The loading up of long positions primarily accounted for the gains. Three months LME aluminium is expected to trade between US$1,760-1,810 per tonne today. As on June 4, Tuesday, LME aluminium cash (bid) price stood at US$ 1751 per tonne, LME official settlement price stands at US$ 1751.50 per tonne; 3-months bid price...
Pacific Aluminium (New Zealand) Limited (PacAl NZ), a subsidiary of Rio Tinto, has reported its interest in the Tiwai Point smelter operated by New Zealand Aluminium Smelters Limited (NZAS). Smelter’s underlying earnings came in at NZ$22 million in 2018, down NZ$53 million from NZ$75 in 2017. This result reflects that during 2018 the operating environment became significantly more challenging, according to the release. The average LME price in the second quarter stood at US$2,259 per tonne. But then decline to US$1,971 in the fourth quarter. “While the New Zealand dollar averaged 0.69 US cents lower than 0.71 during the previous year, the increasing and volatile cost of raw materials throughout the year meant this provided little relief.” The smelter’s aluminium production increased 0.9...
Donald Trump’s decision to end the aluminium import tariff on Canada last month seems to have brought in relief to Oswego, as two of the city’s largest businesses were affected by the tariff. Since aluminium is one of the major sources of daily wages for the people in Oswego, President Donald Trump’s decision to levy a 10 per cent tariff on the metal from Canada badly hit the economy there, said Oswego Port Authority Director William Scriber. Compared to last year, Oswego has seen much of a loss this year, as imports of aluminium are down by 50 per cent from the same time of the previous year. Till the end of 2017, many aluminium suppliers were under contract to ship the metal to the Port of Oswego, which as a result, protected the city in New York from witnessing an economic upheaval in...
The US dollar sharply extended its declines on Monday. LME base metals closed mixed on Monday, and aluminium dropped 1.1%. SHFE base metals performed similarly, and aluminium declined 0.6%. Three-month LME aluminium fell below the five- and 10-day moving averages to close the trading day 1.11% lower at US$1,774 per tonne on Monday. The LME aluminium contract closed at US$ 1763.5 per tonne on Monday June 3, up from the last closing. LME aluminium is expected to trade between US$1,765-1,820 per tonne today. As on June 3, Monday, LME aluminium cash (bid) price stood at US$ 1763 per tonne, LME official settlement price stands at US$ 1763.50 per tonne; 3-months bid price stands at US$ 1788 per tonne, 3-months offer price is US$ 1788.50 per tonne; Dec 20 bid price stands at US$ 1900 per tonne,...
Reacting to a report from The New York Times, claiming that Trump administration was advised on imposing tariffs on Australian steel and aluminium, Australian Prime Minister Scott Morrison said on Monday that the country has been complying with the terms of the trade deal with the U.S. It was reported that Trump was advised to import tariffs on Canberra considering the growing aluminium import from Australia to the United States over the past year. However, Morrison insisted that Australian aluminium exporters have not disregarded the trade deal with the U.S. after exemption last year. The New York Times report said that though Trump considered imposing tariffs on imports from Australia last week, he decided against it after opposition from military officials and the State Department....
According to the New York Times report, some of the United States top trade advisers including Robert Lighthizer, the US trade representative, and Peter Navarro, the director of the White House Office of Trade and Manufacturing Policy, had urged the Trump administration to impose tariffs on aluminium imports from Australia. But Trump was eventually persuaded to backtrack on the decision as imposing tariffs on Australia could alienate a key ally in the Asia-Pacific region. The surge in Australian aluminium flowing onto the American market over the past year, which now accounts for about 6 per cent of all aluminium imported to the country, led the United States top advisers come up with the idea of scrapping the exemption that was granted last year to Australia. In May last year, when the...
The US dollar fell sharply on Friday after US President Donald Trump threatened new tariffs on Mexico. Most LME base metals traded lower on Friday, and aluminium advanced 0.7%. SHFE base metals traded mixed on Friday night and aluminium stayed flat. Three-month LME aluminium jumped to an intraday high of US$1,811.5 per tonne on Friday before it erased some gains to end 0.73% higher at US$1,794 per tonne at Friday night. The cash contract closed the week almost flat at US$ 1761 per tonne. Three months aluminium is expected to trade between US$1,770-1,820 per tonne today. As on May 31, Friday, LME aluminium cash (bid) price stood at US$ 1760.50 per tonne, LME official settlement price stands at US$ 1761 per tonne; 3-months bid price stands at US$ 1787.50 per tonne, 3-months offer price is...
