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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Hindalco’s aluminium ingot price grows INR2500/t after five consecutive cuts in last two weeks
Hindalco Industries Limited has increased its aluminium ingot and aluminium products prices with effect from May 26 after five consecutive cuts in last two weeks. Hindalco is now selling its aluminium ingot at INR 197,500 per tonne as the price has been raised by INR 2,500 per tonne or 1.28 per...
A00 aluminium ingot price in China gains RMB20/t to settle at RMB18390/t amid muted input costs
According to the Shanghai Metals Market, A00 aluminium ingot price in China has continued to grow by RMB 20 per tonne to come in at RMB 18,390 per tonne on Wednesday, May 26. The average prices are expected to range between RMB 18,370 per tonne and RMB 18,410 per tonne, with spot contract to be...
Vedanta cuts its aluminium products prices by over 3%, aluminium billet price pegs at INR202750/t
Vedanta Limited has reduced its aluminium products and aluminium ingot prices for the second time in a row, with effect from Tuesday, May 25. The company has cut its aluminium billet price by INR 7,750 per tonne or 3.68 per cent to INR 202,750 per tonne. Last week on May 20, Vedanta’s aluminium...
Hindalco Industries’ aluminium products price plunges by INR 7,750/t on May 25
Hindalco Industries Limited has continued to decline its aluminium products price. With effect from Tuesday, 25 May 2021, aluminium billets price has dropped by INR 7,750 per tonne or 3.69% to stand at INR 202,100 per tonne, from INR 209,850 per tonne on May 20. The wire rods price stands at INR...
China’s aluminium price rises to stand at RMB 18370/t; expected to range at RMB 18350-18390/t
SMM aluminium ingot price registers a hike after four days of decline. The price stands at RMB 18370 per tonne on Tuesday, 25 May 2021, marking an increase of RMB 30 per tonne from Monday’s price of RMB 18340 per tonne. The price is expected to move within a range of RMB 18350-18390 per tonne. In...
NALCO extends aluminium ingot price cut by INR5200/t with effect from May 22
National Aluminium Company Limited (NALCO) extended its aluminium ingot and aluminium products price cut last week, albeit lower than the previous day, with effect from May 22. NALCO reduced its aluminium ingot price by INR 5,200 per tonne or 2.5 per cent to INR 200,350-203,850 per tonne on...
Vedanta reduces its aluminium wire rod & billet prices by over 2% with effect from May 20
Vedanta Limited has decreased its aluminium products and aluminium ingot prices on May 20, following a raise on a day ago. Vedanta is now selling its aluminium wire rod at INR 210,000-217,500 per tonne, which is INR 5,500 per tonne or 2.5 per cent less than INR 215,500-223,000 per tonne on May 19....
Hindalco’s aluminium wire rod and billets prices experience further cut of INR3500/t on May 20
Hindalco Industries Limited has been reducing its aluminium products and aluminium ingot prices since last Wednesday, May 12, in tandem with the downfall of the LME aluminium benchmark price. The company has cut its aluminium wire rod price yet again with effect from May 20, bringing the price to...
Primary aluminium inventories in China extend decline to 1.02 MT as purchase increases on price plunge
Shanghai Metals Market found a week-on-week decline of 41,000 tonnes in primary aluminium ingot inventories to stand at 1.02 million tonnes as of Thursday, May 20. Stocks fell across eight major consumption areas in China except for Chongqing as the last two consecutive days of decrease in A00...
Vedanta increases aluminium ingot price by INR1500/t w.e.f. May 19 after two consecutive cuts last week
Vedanta Limited has increased its aluminium ingot and aluminium products prices by INR 1,500 per tonne with effect from Wednesday, May 19, following two consecutive cuts last week on May 13 & 15. Vedanta’s aluminium ingot price has come in at INR 208,000-221,000 per tonne compared to INR...
A00 aluminium ingot price in China plummets by RMB440/t amid muted input costs: SMM
A00 aluminium ingot price in China has recorded a sharp fall of RMB 440 per tonne on Thursday, May 20, to come in at RMB 19,110 per tonne, found the Shanghai Metals Market. The average prices are expected to range between RMB 19,090 per tonne and RMB 19,130 per tonne, with spot contract to be...
NALCO’s aluminium wire rod and billets prices cut by INR8800/t in line with W-o-W decline in LME aluminium benchmark price
National Aluminium Company Limited (NALCO) has sharply reduced its aluminium products and aluminium ingot prices with effect from Wednesday, May 19, following a significant hike in prices on May 11. With the latest cut, NALCO’s aluminium wire rod price has come in at INR 209,050-213,400 per tonne,...
China’s aluminium price plunges by RMB 310/t; Aluminium alloy (ADC12) price declines to stand at RMB 19450/t
SMM aluminium ingot price registered a decline of RMB 310 per tonne on Wednesday, 19 May 2021. The price stood at RMB 19550 per tonne, from RMB 19860 per tonne on May 18. The price is expected to move within a range of RMB 19530-19570 per tonne today. In Foshan and Wuxi, the price dropped by RMB...
Hindalco Industries’ wire rods price declines to stand at INR 217,350/t
Hindalco Industries Limited has slashed its aluminium products price by around 1.39%. With effect from Saturday, 15 May 2021, aluminium billets price has dropped by INR 3,000 per tonne from INR 216,350 per tonne on May 13 to stand at INR 213,350 per tonne. The company’s wire rods price stands at...
Alumina spot price in China gains RMB9/t to settle above RMB2400/t; A00 aluminium ingot price stands at RMB19860/t
The average alumina spot price in China has inched up by RMB 9 per tonne to settle at RMB 2,407 per tonne as of Tuesday, May 18, according to the Shanghai Metals Market. In Henan, the price has increased by RMB 15 per tonne to come in at RMB 2,410 per tonne, while the price in Shandong and Guizhou...
China’s aluminium ingot price grows by RMB 40/t; expected to range at RMB 19680-19720/t
SMM aluminium ingot price registers a hike after declining for the two days in a row. The price stands at RMB 19700 per tonne on Monday, 17 May 2021, indicating a growth of RMB 40 per tonne from Friday’s price of RMB 19660 per tonne. The price is expected to move within a range of RMB 19680-19720...
Vedanta cuts its aluminium ingot price by INR 3,000/t on May 15
Vedanta has reduced its aluminium products price by INR 3,000 per tonne. With effect from Saturday, 15 May 2021, the prices of some aluminium ingots have declined by more than 1% to stand at INR 206,500-219,500 per tonne from INR 209,500-222,500 per tonne on May 13. The company’s billets price...
Hindalco extends aluminium ingot price cut by 3% w.e.f. May 13 on continued decrease in LME aluminium benchmark price
Hindalco Industries Limited has extended its aluminium ingot and aluminium product price cut for the second day in a row, with effect from Thursday, May 12. Aluminium ingot price has witnessed a reduction of INR 6,250 per tonne to INR 209,250 per tonne. On the previous day, May 12, the company’s...
