Macro rate hike expectations bring periodic pressure, while destocking in China provides solid bottom support
Futures: The most-traded SHFE aluminium contract opened at RMB 24,310 per tonne in the night session on September 10, reached a high of RMB 24,310 per tonne and a low of RMB 24,075 per tonne, and closed at RMB 24,125 per tonne, down RMB 365 per tonne or 1.49 per cent from the previous close....
LME aluminium price eases 0.3% on September 10; stocks remain stable at 244,525/t
The London Metal Exchange (LME) aluminium price graph contracted on September 10 across cash and contracts, with longer-dated contracts reporting nearly 1 per cent decline. The aluminium opening stocks, however, remained stable. The LME aluminium cash bid price shifted from USD 3,351.5 per tonne on...
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Hindalco’s aluminium ingot price ascends 4% to INR220250/t on October 7
Hindalco Industries Limited has further expanded its aluminium ingot and aluminium products prices on Friday, October 7, following a hike two days ago (October 5). The company has continued to raise its aluminium ingot price by INR 9,000 per tonne or 4.26 per cent after increasing it significantly...
LME aluminium price mounts to US$2,355/t; SHFE remains closed for National Day Holiday
On Thursday, October 6, both LME aluminium cash bid price and LME aluminium official settlement price soared up by US$66.5 per tonne or 2.90 per cent and US$66 per tonne or 2.88 per cent to settle at US$2,354.50 per tonne and US$2,355 per tonne. 3-month bid price and 3-month offer price surged by...
LME benchmark aluminium price earns US$27.5/t; SHFE marks second last day of National Holidays
On October 5, Wednesday, LME aluminium cash bid price has seen a rise of US$27 per tonne or 1.19 per cent to close at US$2,288 per tonne, and LME aluminium official settlement price also shot up by US$27.50 per tonne or 1.22 per cent to rest at US$2,289 per tonne. 3-month bid price has jumped up by...
LME’s dialogue on considering to outlaw Russian metals from trading creates disquiet among aluminium producers
The London Metal Exchange's (LME) consultation a few days back on whether outlaw from trading of a powerful metal-producing nation has stimulated disquiet about an upturn twirl in the price of aluminium and diminishing demand for the metal. The London Metal Exchange is a futures and forwards...
LME levitates by US$97.50/t closing at US$2261.50/t; SHFE remains closed for National Day
On October 4, Tuesday LME aluminium cash bid price has escalated by US$98 per tonne or 4.53 per cent to settle at US$2,261 per tonne, and LME aluminium official settlement price also has hiked by US$97.50 per tonne or 4.5 per cent to rest at US$2,261.50 per tonne. 3-month bid price has skyrocketed...
Japan's aluminium buyers negotiate for lower premiums in Q4
According to our report, two industry associates directly involved in pricing discussions stated that a premium of $99 a tonne had been agreed between Japanese aluminium buyers and at least two global producers for October-December shipments, a decrease of 33% from a year ago. This is a decrease...
LME aluminium price slips by US$16/t to US$2,164/t; SHFE market is closed for National Day Holiday
On Monday, October 3, both LME aluminium cash bid price and LME aluminium official settlement price slumped by US$16.5 per tonne or 0.75 per cent and US$16 per tonne or 0.73 per cent to settle at US$2,163 per tonne and US$2,164 per tonne. 3-month bid price and 3-month offer price settled at...
Top Newsmakers for September 2022: Hydro's Karmøy facility operations on hold due to low demand for aluminium; Australia's largest aluminium smelter plans to fast-track its decarbonization drives
The global aluminium industry continues to stay in the limelight again in September. Yes, off-course, Aluminium 2022 - Dusseldorf stands to be a key event that the aluminium industry has been waiting for for some time but was postponed due to the Covid pandemic. However, other than this gala event,...
LME aluminium benchmark price descends to US$2180/t after a surge day ago; SHFE is closed for National Day holiday
On Friday, September 30, LME aluminium cash bid price and LME aluminium official settlement price plunged by US$81 per tonne, following an outstanding surge on the previous day. While LME aluminium cash bid price came in at US$2,179.50 per tonne, LME aluminium official settlement price stood at...
Hindalco’s aluminium wire rod price surges by 7% with effect from September 30
Hindalco Industries’ aluminium products and aluminium ingot prices built up sharply by INR 14,750 per tonne or 7.07 per cent on Friday, September 30. That brought the company’s aluminium wire rod price to INR 223,350 per tonne versus INR 208,600 per tonne on September 28. Hindalco’s aluminium...
NALCO continues to cut its aluminium ingot price sharply by INR7300/t with effect from September 27
National Aluminium Company has axed its aluminium ingot and aluminium products prices, with effect from September 27, following a cut of INR 2,500 per tonne ten days ago. NALCO’s aluminium ingot price has seen a slash of INR 7,300 per tonne to come in at INR 203,450-206,950 per tonne versus INR...
LME aluminium price skyrockets by US$181/t as it plans to ban Russian supplies; SHFE price mounts to US$2,581/t
LME aluminium opened at US$2,134 per tonne on Thursday and closed at US$2,232 per tonne, an increase of US$97 per tonne or 4.54 per cent. Following the London Metal Exchange's announcement that it was contemplating preventing new Russian metals from entering the market, traders became concerned...
China’s A00 aluminium ingot price glides up by RMB200/t; Australian Alumina FOB price loses US$5/t
A00 aluminium ingot price has augmented by RMB 200 per tonne to close at RMB 18,340 per tonne, as the Shanghai Metals Market recorded on Friday, September 30. The average prices are expected to range between RMB 18,320 per tonne and RMB 18,360 per tonne, with spot contracts trading at discount...
Vedanta’s aluminium ingot price continues to shrink by INR3000/t with effect from September 28
Vedanta Limited has further decreased its aluminium ingot and aluminium products prices, effective from Wednesday September 28, after the previous cut on September 24. The company’s aluminium ingot price has witnessed a decline of INR 3,000 per tonne to INR 199,750- 229,250 per tonne versus INR...
Press Metal introduces hedging policy to balance products’ cost with rising aluminium prices
The share price of Press Metal Aluminium Holdings Bhd is being positively affected due to the instability in aluminium prices, due to the introduction of the hedging policy. Since both are inter-connected, this situation was first observed during the initial days of the pandemic by Affin Hwang...
Alumina spot price in China slips by RMB17/t to RMB2,852/t; A00 aluminium ingot price expands to RMB 18,140/t
On Thursday, September 29, the average alumina spot price in China descended by RMB 17 per tonne to settle at RMB 2,852 per tonne. The prices in Shanxi and Guangxi dropped by RMB 20 per tonne to peg at RMB 2,795 per tonne and RMB 2,820 per tonne on the same day. In Henan, the price witnessed a cut...
LME benchmark aluminium price closes mid-week with a US$26/t fall; SHFE jumps up US$30/t
LME aluminium opened at US$2,109 per tonne on Wednesday and closed at US$2,135 per tonne, an increase of US$33 per tonne or 1.57 per cent. LME aluminium cash bid price has decreased by US$26.50 per tonne or 1.26 per cent to settle at US$2,079 per tonne, and LME aluminium official settlement price...
Hindalco’s aluminium ingot price sees back-to-back cut by INR3000/t on September 28
Hindalco Industries Limited has reduced its aluminium ingot and aluminium products prices for the second time in a row, effective from Wednesday, September 28. The last cut the company’s ingot and products prices saw was on September 24 by INR 3,250 per tonne. On September 28, Hindalco has cut its...
