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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Vedanta extends aluminium ingot price cut for the third consecutive day this week by INR2250/t
Vedanta Limited has extended the price cut of its aluminium ingot and aluminium products by INR 2,250 per tonne with effect from January 20, 2021, as the three-month futures of aluminium on the London Metal Exchange continued to shrink till January 19, marking the third consecutive day of fall....
LME aluminium price settles further lower at US$1951.50/t amid increasing opening stock; SHFE price down to US$2271/t
Three-month LME aluminium climbed 0.15 per tonne to close at US$ 1,973 per tonne on Tuesday, with open interest falling to 742,000 lots. The impact of LME aluminium inventory changes on prices should continue to be monitored. It is expected to trade between US$ 1,900-2,010 per tonne today. As of...
Vedanta further cuts aluminium ingot price by INR2250/t in line with LME aluminium price drop below US$2000/t
Vedanta Limited has further reduced its aluminium ingot and products prices for the second time in a row with effect from Tuesday, January 19. The company is currently selling its aluminium ingot at INR 167,750-180,750 per tonne, down by INR 2,250 per tonne or 1.32 per cent from INR 170,000-183,000...
Hindalco Industries reports INR 1,500/t decline in its aluminium products price
Hindalco Industries Limited has reduced its aluminium products price for the second time in a row. With effect from Saturday, 16 January 2021, wire rods price stands at INR 180,350 per tonne, marking a drop of INR 1,500 per tonne from INR 181,850 per tonne on January 12. The company is selling its...
China’s aluminium ingot price opened the week higher at RMB 15060/t; Aluminium Alloy (A356) up by RMB 100/t
SMM aluminium ingot price opened the week higher. The price stands at RMB 15060 per tonne on Monday, 18 January 2021, a growth of RMB 120 per tonne from Friday’s price of RMB 14940 per tonne. The price is expected to move within a range of RMB 15040-15080 per tonne. In Foshan and Wuxi, the price...
Weekly update: Aluminium ingot price in China trended lower this week; Alumina price remained flat
SMM aluminium ingot price trended lower, except Friday. The price declined by RMB 310 per tonne and RMB 350 per tonne to stand at RMB 15400 per tonne and RMB 15050 per tonne on Monday,11 January and Tuesday,12 January. The price further dropped to RMB 14720 per tonne on Thursday, down from RMB...
NALCO’s aluminium prices shrink by INR2000/t on January 16 in line with sluggish LME aluminium benchmark price
National Aluminium Company Limited (NALCO) has cut its aluminium ingot and products prices with effect from Saturday, January 16, following a significant hike ten days ago on January 6. According to the company’s price update, aluminium ingot price has come in at INR 169,550-173,050 per tonne, down...
Vedanta Limited cuts aluminium ingot price by 1% with effect from January 14
Vedanta Limited again decreased its aluminium ingot and aluminium product prices on January 14 after increasing them on the previous day. With effect from Thursday, January 14, Vedanta slashed its aluminium ingot price by INR 1,750 per tonne or 1.02 per cent from INR 171,750-184,750 per tonne to...
China’s alumina price rises by RMB 27/t; Alumina (Imported) price declines to RMB 2445/t
As updated by Shanghai Metals Market, average spot alumina price in China has increased by RMB 27 per tonne today after five days of restrained at RMB 2340 per tonne. The price now stands at RMB 2367 per tonne as of Friday, 15 January 2021. Alumina prices in Shandong and Henan have risen by RMB 20...
Alumina powder production in Iran grows 1.8% in nine months ended on November 20, 2020
Alumina powder production in Iran edged 1.8 per cent higher during the first nine months of the current Iranian calendar year (March 20-November 20, 2020), in comparison with the same period last year, found the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO)....
A00 aluminium ingot price records fourth consecutive day of decline to RMB14,720/t; Bauxite price in Henan shrinks by RMB7.5/t
A00 aluminium ingot price has continued to fall for the fourth consecutive day by RMB 180 per tonne to stand at RMB 14,720 per tonne on Thursday, January 14, found the Shanghai Metals Market. The average prices are expected to range between RMB 14,700 per tonne and RMB 14,740 per tonne, with spot...
Iran’s aluminium ingot output climbs 51.2% in nine months
According to the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), Iran’s aluminium ingot production stood 51.2 percent higher year-on-year during the first nine months of the current Iranian calendar year (March 20-December 20, 2020). Aluminium ingot output came...
Vedanta Ltd adds INR1250/t to its aluminium ingot price on January 13 after a cut last day
Vedanta Limited has raised its aluminium ingot and aluminium products prices with effect from Wednesday, January 13, just a day after reducing the prices by INR 1,500 per tonne. Vedanta is currently selling its aluminium ingot at INR 171,750-184,750 per tonnes, up by INR 1,250 per tonne or 0.73 per...
Hindalco Industries cuts its aluminium products price by INR 1,500/t
Hindalco Industries Limited has cut its aluminium products price following a hike of INR 2,250 per tonne on Saturday. With effect from Tuesday, 12 January 2021, wire rods price stands at INR 181,850 per tonne, a decline of 0.82% from INR 183,350 tonne on January 09. The company is selling its...
China’s aluminium ingot price slips by RMB 150/t; expected to range at RMB 14880-14920/t
SMM aluminium ingot price registers a drop for the third day in a row. The price stands at RMB 14900 per tonne on Wednesday, 13 January 2021, a decrease of RMB 150 per tonne from Tuesday’s price of RMB 15050 per tonne. The price and is expected to move within a range of RMB 14880-14920 per tonne....
Vedanta reports INR 1,500/t decline in its aluminium ingot price
Vedanta has reduced its aluminium products price after hiking it on January 9. With effect from Tuesday, 12 January 2021, the prices of some aluminium ingots are in the range of INR 170,500-183,500 per tonne, marking a decline of INR 1,500 per tonne from INR 172,000-185,000 per tonne on January 09....
China’s A00 aluminium ingot price declines the highest this month to RMB15,050/t; Alumina price in Shandong gains RMB10/t
A00 aluminium ingot price in China has recorded the highest downfall of January 2021 and the second-highest since the fall of RMB 430 per tonne on December 21, as of Tuesday, January 12. According to Shanghai Metals Market data, the price has plunged by RMB 350 per tonne to stand at RMB 15,050 per...
Molten aluminium ratio declines at Chinese aluminium smelters in December 2020: Know Why?
In December 2020, molten aluminium accounted for 66.6 per cent of China’s total aluminium production, found the Shanghai Metals Market. That was down by 1.17 percentage points from the previous month, owing to the increased proportion of ingot output at smelters in north China. The decline was most...
