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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Primary aluminium weekly recap: China’s A00 aluminium ingot price uptrends on improved buying sentiment, German companies support sanctions against Russia
This week continued to witness a downtrend in the global aluminium benchmark price, so much so that it stood month-on-month lower for a day. The LME aluminium price started the week at US$3,399 per tonne, reflecting a sharp downfall of US$73 per tonne from US$3,472 per tonne on March 11. The price...
Hindalco’s aluminium ingot price builds up by INR6750/t on March 17 as LME price rallies
After two consecutive days of cut this week, Hindalco Industries Limited increased its aluminium ingot and aluminium products prices on Thursday, March 17, relating to the recovery in LME aluminium benchmark price. Hindalco raised its aluminium ingot price by INR 6,750 per tonne to INR 288,500 per...
A00 aluminium ingot price in China further surges by RMB440/t on improved buying sentiment
A00 aluminium ingot price in China has surged for the second day in a row by RMB 440 per tonne to close the week on Friday, March 18, at RMB 22,520 per tonne, found the Shanghai Metals Market. Recovery in the downstream purchase, resulting in the fall in primary aluminium inventories this week,...
China’s primary aluminium social inventories decline by 53,000 tonnes on improved buying sentiment
Social inventories of primary aluminium in China have decreased after six consecutive weeks of rising, owing to the improved buying sentiment among the downstream market. According to the Shanghai Metals Market, aluminium inventories have dwindled by 53,000 tonnes across eight major Chinese...
Hindalco’s aluminium wire rod & billets prices decline by INR15500/t in response to bearish LME price
In response to the sharp fall in LME aluminium benchmark price by US$181.50 per tonne on March 15, Hindalco Industries Limited has slashed its aluminium ingot and aluminium products prices, with effect from March 16. Hindalco’s aluminium wire rod price has experienced a cut of INR 15,500 per tonne...
China’s A00 aluminium ingot price gains RMB310/t as stimulus pledge boosts investors’ confidence
According to the Shanghai Metals Market, the A00 aluminium ingot price has elevated by RMB 310 per tonne to total at RMB 22,080 per tonne as stimulus pledge boosted investors confidence. The average prices for the same is expected to hover between RMB 22,060 per tonne and RMB 22, 100 per tonne with...
NALCO aluminium ingot price experiences further cut of INR24800/t w.e.f. March 16
National Aluminium Company Limited has reduced its aluminium ingot and aluminium products prices for the second time in a row, with effect from Wednesday, March 16, 2022, in line with the continued sharp decline in LME aluminium price. With the latest cut, NALCO’s aluminium ingot price has come in...
Imported alumina price in China gains RMB15/t after an intermittent fall; Domestic A00 aluminium ingot price grows to RMB21770/t
The average alumina spot price in China has dipped by RMB 10 per tonne on Wednesday, March 16, to stand at RMB 2,964 per tonne, found the Shanghai Metals Market. In Shandong, alumina price has decreased by RMB 25 per tonne to come in at RMB 2,910 per tonne, while the price in Shanxi has dropped by...
Hindalco’s aluminium prices decline by INR5250/t on March 15; Ingot price comes in INR297250/t
Hindalco Industries Limited cuts its aluminium ingot and aluminium products prices for the third time in a row, with effect from Tuesday, March 15, as LME aluminium benchmark price slid further by US$73 per tonne on March 14. Hindalco has reduced its aluminium ingot price by INR 5,250 per tonne to...
Hindalco’s aluminium wire rod price declines by INR4000/t on March 12 in response to LME price fall
Hindalco Industries Limited continued to reduce its aluminium products and aluminium ingot prices, with effect from Saturday, March 12, in response to LME aluminium price fall by US$63 per tonne on Friday, March 11. Hindalco cut its aluminium wire rod price by INR 4,000 per tonne to bring it to...
NALCO’s aluminium ingot price is slashed by INR40,600/t to INR 305,850-309,350/t on March 11
National Aluminium Company Limited (NALCO) has slashed its aluminium ingot and aluminium products prices, with effect from Friday, March 11, in tandem with the lowering trend after March 9. NALCO has reduced its aluminium ingot price sharply by INR 40,600 per tonne or 11.72 per cent to INR...
Hindalco’s aluminium ingot price dips by 1% to INR306,500/t with effect from March 11
After increasing aluminium ingot and aluminium products prices on March 10, Hindalco Industries Limited cuts them the next day. With effect from Friday, March 11, the company has reduced its aluminium ingot price by INR 2,750 per tonne or 0.90 per cent to INR 306,500 per tonne. On March 10, the...
China’s A00 aluminium ingot price augments to RMB 21,880/t after a three-day fall
On Friday, March 11, A00 aluminium ingot price in China has ascended after a three-day consecutive fall to close above RMB 21,800 per tonne. According to the Shanghai Metals Market, the aluminium ingot price has gone up by RMB 380 per tonne to settle at RMB 21,880 per tonne. The average prices are...
Primary aluminium inventories in China further gain 20,000 tonnes this week on wait-and-watch downstream sentiment
According to the Shanghai Metals Market, social inventories of primary aluminium have built up by 20,000 tonnes week-on-week across eight major consumption areas in China, including SHFE warrants. Data shows inventories have come in at 1.14 million tonnes on March 10 compared to 1.12 million tonnes...
Hindalco’s aluminium wire rod price grows by INR2500/t on March 10 after a massive cut on previous day
Hindalco Industries Limited has revised its aluminium products and aluminium ingot prices back-to-back for the third day in a row, in tandem with the LME aluminium price movement. With effect from Thursday, March 10, Hindalco has increased its aluminium wire rod price by INR 2,500 per tonne to INR...
China’s A00 aluminium ingot price falls sharply for the third consecutive day below RMB22000/t
According to the Shanghai Metals Market, A00 aluminium ingot price in China has continued to plunge for the third consecutive day to stand below RMB 22,000 per tonne. Data shows the price has come in at RMB 21,500 per tonne, reflecting a decrease of RMB 560 per tonne from RMB 22,060 per tonne on...
Hindalco Industries sharply cuts its aluminium ingot price by INR40500/t as LME price plummets by US$484/t
Hindalco Industries Limited has slashed its aluminium ingot and aluminium products prices, with effect from Wednesday, March 9, in response to LME aluminium price plunge after a week of unabated growth. Hindalco has axed its aluminium ingot price by INR 40,500 per tonne or 11.66 per cent to INR...
A00 aluminium ingot price crashes further by RMB660/t to RMB22060/t; Aluminium alloy (A356) price falls by RMB600/t
On Wednesday, March 9, A00 aluminium ingot price has depreciated further by RMB 660 per tonne to peg at RMB 22,060 per tonne, found the Shanghai Metals Market. The average prices for the same are expected to range between RMB 22,040 per tonne and RMB 22,080 per tonne, with spot contract to be...
