Macro disturbances cap upside room, while destocking continues to support aluminium price stabilisation
Futures: The most-traded SHFE aluminium contract opened at RMB 24,240 per tonne in the night session on September 4, with a high of RMB 24,355 per tonne, a low of RMB 24,220 per tonne, and a close of RMB 24,320 per tonne, up 0.12 per cent from the previous close. Futures stabilised and rebounded,...
Accelerated destocking of aluminium ingots lifts aluminium price centre, while peak-season performance is expected to cap upside room
Macro perspective: Fed Chairman Warsh delivered a hawkish speech at the Jackson Hole symposium, lifting market expectations for a September rate hike to around 60 per cent, while the US dollar consolidated amid fluctuations, unsettling the nonferrous metals sector. The Fed's latest Beige Book...
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China’s A00 aluminium ingot price builds up by RMB120/t after two back-to-back falls; Imported bauxite price gains US$1.5/t
A00 aluminium ingot price in China has opened the week with a hike of RMB 120 per tonne, following two consecutive downfalls from RMB 19,370 per tonne to RMB 19,050 per tonne, found the Shanghai Metals Market. Hence, on Monday, July 4, the price has come in at RMB 19,170 per tonne, with average...
Hindalco trims its aluminium ingot price for the second day in a row by INR3500/t w.e.f. June 30
Hindalco Industries Limited reduced its aluminium ingot and aluminium products prices, with effect from Thursday, June 30. The company trimmed its aluminium ingot price by INR 3,500 per tonne to INR 225,250 per tonne. On the previous day, June 29, Hindalco’s aluminium ingot price stood at INR...
Vedanta deducts INR4750/t from its aluminium ingot price with effect from July 1
Vedanta Limited has deducted INR 4,750 per tonne from all its aluminium products and aluminium ingot price, with effect from Friday, July 1. With this cut, Vedanta’s aluminium ingot price has come in at INR 220,500-253,500 per tonne, in contrast to INR 225,250- 258,250 per tonne on June 30. The...
China’s A00 aluminium ingot price shrinks for two straight days closing the week at RMB19050/t; Australian alumina FOB loses US$1/t
A00 aluminium ingot price in China has plunged by RMB 180 per tonne to close the week, ending July 1, at RMB 19,050 per tonne, found the Shanghai Metals Market. The average prices are estimated to range between RMB 19,030 per tonne and RMB 19,070 per tonne and spot contracts to be traded at a...
China’s aluminium ingot inventories suffer W-o-W fall of 17,000 tonnes to 734,000 tonnes on June 30
According to the Shanghai Metals Market, primary aluminium inventories in China have witnessed a steep downfall of 17,000 tonnes week-on-week across eight major consumption areas, including SHFE warrants. Therefore, as of Thursday, June 30, the inventories have totalled 734,000 tonnes, which in...
China’s A00 aluminium ingot price augments by RMB110/t midweek closing at RMB19370/t; Australian alumina FOB price drops by US$3/t
A00 aluminium ingot price has further heightened by RMB 110 per tonne for the third consecutive day to come in at RMB 19,370 per tonne, as recorded by the Shanghai Metals Market on Wednesday, June 29. The average prices are expected to range between RMB 19,350 per tonne and RMB 19,390 per tonne,...
Vedanta’s aluminium wire rod price builds up INR1500/t in line with LME price rise
Vedanta Limited has expanded its aluminium products and aluminium ingot prices, with effect from Tuesday, June 28, by INR I,500 per tonne or 0.65 per cent. That has brought the company’s aluminium wire rod price to INR 231,000-238,500 per tonne from INR 229,500-237,000 on June 25. Vedanta’s...
Hindalco’s aluminium ingot price sees a rise of INR1250/t on June 28 after an intermittent cut last week
Hindalco Industries Limited has again increased its aluminium ingot and aluminium products prices, with effect from Tuesday, June 28, following an intermittent cut of INR 3,500 per tonne on May 25. Today, on June 28, Hindalco’s aluminium ingot price has seen a rise of INR 1,250 per tonne or 0.56...
Qatalum achieves dual certifications from ASI for primary aluminium smelting and foundry alloys manufacturing
Qatalum, a joint venture aluminium smelter between Qatar Petroleum and Norsk Hydro, has reportedly bagged dual certifications from the Aluminium Stewardship Initiative. For primary aluminium smelting and manufacturing foundry alloys & extrusion ingots at Mesaieed Industrial City, Qatar, the smelter...
Vedanta cuts its aluminium ingot price on an alternate day by 1.7% to INR222,000-255,000/t
Vedanta Limited reduced its aluminium ingot and aluminium products prices on an alternate day after escalating the prices on Friday, June 24. With effect from Saturday, June 25, Vedanta’s aluminium ingot price saw a slash of INR 3,750 per tonne or 1.66 per cent to INR 222,000-255,000 per tonne. On...
Hindalco Industries’ aluminium ingot price undergoes a hike of INR2250/t on June 24
Hindalco Industries Limited further expanded its aluminium ingot and aluminium products prices, in line with the increase in global aluminium benchmark price. As of Friday, June 24, Hindalco’s aluminium ingot price closed at INR 225,750 per tonne, up by INR 2,250 per tonne or 1 per cent from INR...
China’s primary aluminium ingot inventories on W-o-W decline to 751,000 tonnes on June 23
According to the Shanghai Metals Market, primary aluminium inventories in China witnessed a steep downfall of 34,000 tonnes week-on-week across eight major consumption areas, including SHFE warrants. Therefore, as of Thursday, June 23, the inventories totalled 751,000 tonnes, which in comparison...
China’s A00 aluminium ingot price crash-dives RMB430/t stopping at RMB19340/t; High purity aluminium plunge by RMB400/t
A00 aluminium ingot price has plummeted by RMB 430 per tonne to stand at RMB 19,340 per tonne, as recorded by the Shanghai Metals Market on Thursday, June 23. The average prices are supposed to range between RMB 19,320 per tonne and RMB 19,360 per tonne, with spot contracts trading at a premium...
Imports of Chinese primary aluminium plunge by 7.1% M-o-M in May 2022
The General Administration of Customs reported that in May 2022, China's primary aluminium imports closed at 37,300 tonnes, which reflected M-o-M hike of 7.1 per cent and a Y-o-Y plunge of 61 per cent. The exports, on the other hand, settled at 65,100 tonnes, up by 103.1 per cent M-o-M and up...
Vedanta heightens its aluminium billet & wire rod prices by INR4000/t with effect from June 22
Vedanta Limited has finally increased its aluminium products and aluminium ingot prices after reducing them ceaselessly since June 11. With effect from Wednesday, June 22, Vedanta’s aluminium billet price has come in at INR 237,500 per tonne, up by INR 4,000 per tonne from INR 233,500 per tonne on...
Hindalco’s aluminium ingot price escalates by INR5000/t after witnessing continuous cuts since June 11
After witnessing continuous cuts since June 11, Hindalco Industries Limited’s aluminium ingot and aluminium product prices trended up by INR 5,000 per tonne or 2.23 per cent, as of June 22. That brought the company’s aluminium ingot price to INR 228,500 per tonne, from INR 223,500 per tonne on June...
NALCO’s aluminium ingot price experiencing ceaseless cuts to currently stand at INR223,450-226,950/t w.e.f. June 21
National Aluminium Company Limited (NALCO) has again reduced its aluminium ingot and aluminium products prices by almost the same amount like last time. With effect from June 21, NALCO has slashed its aluminium ingot price by INR 10,200 per tonne or 4.4 per cent to INR 223,450-226,950 per tonne...
A00 aluminium ingot price drops by RMB90/t to RMB19,770/t; Aluminium alloy (A356) dwindles by RMB100/t
China’s A00 aluminium ingot price has plunged by RMB 90 per tonne after witnessing a hike the previous day. As per the SMM data, the price on June 22 closed at RMB 19,770 per tonne, with the average price expected to stand between RMB 19,750 per tonne and RMB 19,790 per tonne and spot contracts...
