Low inventory supports aluminium prices to consolidate at highs; Peak season recovery pace awaits verification
Futures: The most-traded SHFE aluminium contract opened at RMB 24,590 per tonne in the night session on September 9, reached a high of RMB 24,660 per tonne and a low of RMB 24,565 per tonne, and closed at RMB 24,650 per tonne, up RMB 90 per tonne or 0.37 per cent from the previous close. Futures...
LME aluminium cash offer rises 0.84% to $3,353/t; stocks remain unchanged at 244,525t
The LME aluminium price moved higher on September 9 compared with the previous trading day, with cash and three-month aluminium prices recording gains, while total warehouse stocks remained unchanged. On September 9, the LME aluminium cash bid price stood at USD 3351.5 per tonne, up USD 27.5 per...
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Three-month LME aluminium closed higher at US$1,911/t; SHFE aluminium added 0.27%
Three-month LME aluminium rose 0.47% to close at US$1,911 per tonne on Tuesday, with open interest remaining at 746,000 lots. SMM expects the contract to trade between US$1,880-1,940 per tonne today. As of Tuesday November 10, LME aluminium cash (bid) price stands at US$ 1880 per tonne, LME...
LME aluminium price exceeds $1900/t surging by 1.14% over the weekend; SHFE slips by $6/t to $2288/t
Three-month LME aluminium rose 0.05 per cent to close at US$ 1,902 per tonne on Monday, with open interest falling to 746,000 lots. It is expected to trade between US$ 1,880-1,940 per tonne today. LME aluminium cash (bid) price and LME official settlement price continued to increase for the third...
LME aluminium closed higher at US$ 1891.50/t on Friday; SHFE aluminium added 0.37%
Nonferrous metals on the SHFE were mostly higher on Monday morning, and their counterparts on the LME also rose for the most part, as investors reacted to Democrat Joe Biden’s presidential election win, SMM reported. The LME aluminium added 0.45%. As of Friday November 6, LME aluminium cash (bid)...
LME aluminium price rallied this week from $1834.5/t to $1891.5/t; SHFE closed higher at $2263/t
On Monday, November 2, three-month LME aluminium climbed 1.24 per cent to close at US$1,871 per tonne. On November 3 & 4, the price grew further by 1.18 per cent and 0.82 per cent to settle at US$ 1,893 per tonne and US$ 1908.50 per tonne, respectively. However, on Thursday, November 5, three-month...
LME aluminium price closed higher at $1885.5/t amidst decreasing opening stock; SHFE climbed to $2263/t
Three-month LME aluminium fell 0.84 per cent to close at US$ 1,892.50 per tonne on Thursday, November 5, with open interest rising to 748,000 lots. It is expected to trade between US$ 1,870-1,910 per tonne today, November 6. LME aluminium cash (bid) price and LME official settlement price increased...
NALCO further increases its aluminium ingot price by INR4,500/t with effect from November 4
National Aluminium Company Limited (NALCO) has further increased the prices of its aluminium ingot and aluminium products with effect from Wednesday, November 4, 2020. The price of NALCO’s aluminium ingot has been raised significantly by INR 4,500 per tonne or nearly 3 percent from INR 158,150-...
Three-month LME aluminium stood higher at US$1,908.5/t; SHFE aluminium slid 0.37%
Three-month LME aluminium climbed 0.82% to close at US$1,908.5 per tonne on Wednesday, with open interest rising to 747,000 lots. SMM expects the contract to trade between US$1,870-1,930 per tonne today. As of Wednesday November 4, LME aluminium cash (bid) price stands at US$ 1877 per tonne, LME...
LME aluminium price soared to $1891/t marking the third consecutive day of hike; SHFE plunged to $2226/t
Three-month LME aluminium climbed 1.18 per cent to close at US$ 1,893 per tonne on Tuesday, November 3, with open interest rising to 742,000 lots. It is expected to trade between US$ 1,870-1,910 per tonne on November 4. LME aluminium cash (bid) price and LME official settlement price increased for...
Hindalco further increases its aluminium product prices by INR1750/t with effect from November 3
Hindalco Industries Limited has extended the growth of its aluminium product prices with effect from Tuesday, November 3. The price of Hindalco’s aluminium wire rods has been raised by INR 1,750 per tonne from INR 166,350 per tonne to INR 168,100 per tonne, as of November 3. With the latest hike,...
Three-month LME aluminium closed at US$1,871 per tonne on Monday; SHFE aluminium gained 2.95%
Three-month LME aluminium climbed 1.24% to close at US$1,871 per tonne on Monday. SMM expects the contract to trade between US$1,850-1,890 per tonne today. As of Monday November 2, LME aluminium cash (bid) price stands at US$ 1834.50 per tonne, LME official settlement price stands at US$ 1834.50...
Norsk Hydro and Hindalco oppose LME’s plans for a separate low-carbon aluminium trading platform
According to a recent report, some of the world’s largest aluminium producers like Norwegian group Norsk Hydro and India’s Hindalco Industries are resisting the London Metals Exchange’s plans of launching a “green aluminium” trading platform. The news came after the companies said they both opposed...
Three-month LME aluminium closed 2.44% higher at $1848/t; SHFE price increased to $2223/t
Three-month LME aluminium climbed 2.44 per cent to close at US$ 1,848 per tonne on last Friday, with open interest falling to 743,000 lots. It is expected to trade between US$ 1,820-1,870 per tonne today. LME aluminium cash (bid) price and LME official settlement price rebounded on Friday, October...
Three-month LME aluminium stood three-week low at $1804/t this week; SHFE declined to $2186/t
On Monday, October 26, three-month LME aluminium shed 1.11 per cent to settle at US$ 1,822 per tonne. On Tuesday, it hit the lowest in more than two weeks at US$1,812 per tonne earlier in the session, closing down 0.05% to come in at US$1,821 per tonne. On Wednesday, October 28, the price closed...
Three-month LME aluminium declined to a three-week low; SHFE aluminium advanced 0.17%
Three-month LME aluminium dropped to a three-week low at US$1,793 per tonne on Thursday, closing 0.41% lower at US$1,804 per tonne. SMM expects the contract to trade between US$1,790-1,830 per tonne today. As of Thursday October 29, LME aluminium cash (bid) price stands at US$ 1786 per tonne, LME...
Century Aluminum’s net sales dropped in Q3 on lower LME prices; Primary aluminium shipments down 3%
Century Aluminum Company announced its third quarter 2020 results. Shipments of primary aluminium were 203,022 tonnes in Q3, down 3% from 210,309 tonnes Q2 2020. Net sales stood at $392.9 million compared with $401.9 million for the second quarter of 2020, down 2% on lower LME prices and regional...
Hindalco reduces aluminium ingot price by nearly 1.5% this week in line with 3-month futures fall on LME
Hindalco Industries Limited has cut its aluminium ingot and aluminium product prices with effect from Wednesday, October 28, after raising them a week ago. The company is now selling its aluminium ingot at INR 153,750 per tonne compared with 156,000 tonnes as of October 22. This represents a...
LME aluminium price closed $7/t lower at $1801/t; SHFE plunged for the third day in a row to $2158/t
Three-month LME aluminium closed 0.52 per cent lower at US$ 1,811.5 per tonne on Wednesday, October 28, after hitting its lowest in nearly three weeks at US$ 1,802.50 per tonne earlier in the session. It is expected to trade between US$ 1,800-1,840 per tonne today. LME aluminium cash (bid) price...
Rusal’s aluminium production increases by 1.3% Q-o-Q to 939,000t in Q3 2020, VAP sales rise by 25.4%
Rusal announced that its aluminium production in the third quarter of 2020 totalled 939,000 tonnes, increasing by 1.3 per cent quarter-on-quarter from 927,000 tonnes in Q2. Siberian smelters represented 93% of the output. Rusal’s aluminium production increased in the third quarter after a drop in...
