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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Alumina spot price in China sheds RMB3/t marking eighth day of fall; A00 aluminium ingot price plunges by RMB310/t
A00 aluminium ingot price has nosedived by RMB 310 per tonne to close at RMB 17,960 per tonne, as the Shanghai Metals Market recorded on Wednesday, September 28. The average prices are expected to range between RMB 17,940 per tonne and RMB 17,980 per tonne, with spot contracts trading at discount...
LME aluminium price dips by US$19.5/t to US$2,105.50/t; SHFE price nosedives to US$2,498/t
LME aluminium opened at US$2,136 per tonne on Tuesday and closed at US$2,102 per tonne, down US$32 per tonne or 1.5 per cent. On Tuesday, September 27, both LME aluminium cash bid price and LME aluminium official settlement price slipped by US$19.5 per tonne or 0.91 per cent to settle at...
Vedanta’s aluminium wire rod & billet prices see a drop of INR3250/t with effect from September 24
Vedanta Limited reduced its aluminium ingot and aluminium products prices, with effect from Saturday, September 24, following a rise of INR 2,500 per tonne on the previous day. Vedanta’s aluminium wire rod price saw a cut of INR 3,250 per tonne on September 24 to stand at INR 210,250- 217,750 per...
China’s Aug’22 prebaked anode exports shrink 31.4% M-o-M but grow 7% on year to 141,600 tonnes
China customs data found the country’s prebaked anode exports stood at 141,600 tonnes in August 2022, which reflected a downfall of 31.43 per cent month-on-month and an increase of 6.99 per cent year-on-year. Custom statistics showed the export price per unit of prebaked anode was $1,334.50 per...
A00 aluminium ingot price in China slumps by RMB200/t; Average alumina spot price went down by RMB9/t
On Tuesday, September 27, the A00 aluminium ingot price in China slumped by RMB 200 per tonne to settle at RMB 18,270 per tonne, with the average prices ranging between RMB 18,250 per tonne and RMB 18,290 per tonne. The spot contract price is expected to be traded at a discount price of RMB 60 to...
LME benchmark aluminium price suffers a fall of 1.28%; SHFE goes down by US$30/t
LME aluminium opened at US$2,169 per tonne on Monday and closed at US$2,134 per tonne down US$33 per tonne or 1.52 per cent. LME aluminium cash bid price has slumped by US$27 per tonne or 1.25 per cent to settle at US$2,125 per tonne, and LME aluminium official settlement price has dipped by...
NALCO’s aluminium ingot price drops by INR2500/t with effect from September 17
National Aluminium Company Limited's (NALCO) aluminium ingot and aluminium products prices fell after being cut by INR 2,500 per tonne, with effect from September 17. NALCO’s aluminium ingot price is currently ranging between INR 210,750-214250 per tonne since September 17 versus INR 213,250-...
Alumina spot price in China drops for sixth day in a row by RMB12/t; A00 aluminium ingot price descends by RMB240/t
The average alumina spot price in China has decreased for the sixth day in a row by RMB 12 per tonne to stand at RMB 2,881 per tonne on Monday, September 26. Over a week, the price has dwindled by RMB 40 per tonne from RMB 2,921 per tonne, found the Shanghai Metals Market. The decline in domestic...
LME aluminium price closes the week with a plunge of US$42.5/t; SHFE price nosedives to US$2,582/t
LME aluminium opened at US$2,222 per tonne last Friday and closed at US$2,167 per tonne, down US$56 per tonne or 2.52 per cent. On Friday, September 23, both LME aluminium cash bid price and LME aluminium official settlement price dwindled by US$43 per tonne or 1.95 per cent and US$42.5 per tonne...
North American producers suffering from the unrestricted flow of Russian aluminium into the US: Jakob Stausholm, Rio Tinto
The chief executive of Rio Tinto, Jakob Stausholm, is concerned about the unshackled flow of Russian aluminium into the US, which is decreasing the competitiveness of North American producers. According to Stausholm, Russian aluminium imports remain exempt from US sanctions, whereas allies like...
Primary aluminium recap: Rio Tinto to join First Movers Coalition forum aiming to reach zero emission; European market uncertain about ordering aluminium for 2023
This week, the global primary aluminium segment witnessed many important events. To begin with, on Wednesday, the LME aluminium benchmark price dropped to its lowest in 18 months since March 2021 as markets prepared for another significant increase in US interest rates that may stifle economic...
LME aluminium price loses US$79/t this week to settle at US$2153/t; SHFE price trends down by US$48/t
The LME aluminium benchmark price has slipped by US$79 per tonne this week from September 19 to 23. On Monday, both LME aluminium cash bid price and LME aluminium official settlement price began the week with a decline of US$26 per tonne and US$27 per tonne, respectively, to stand at US$2,231 per...
Hindalco’s aluminium ingot price builds up by INR2500/t with effect from September 23
Hindalco Industries Limited increased its aluminium ingot and aluminium products prices on Friday, September 23, followed by a cut on the previous day. The company added INR 2,500 per tonne to its aluminium ingot price to sell the product at INR 203,750 per tonne versus INR 201,250 per tonne on...
LME benchmark aluminium price soars up to US$2195.5/t; SHFE hikes US$14/t
LME aluminium opened at US$2,200.50 per tonne on Thursday and closed at US$2,223 per tonne, an increase of US$20 per tonne or 0.91 per cent. LME aluminium cash bid price has increased by US$6 per tonne or 0.27 per cent to settle at US$2,195 per tonne, and LME aluminium official settlement price has...
A00 aluminium ingot price in China ascends to RMB18,710/t; Average alumina spot price slips by RMB10/t
On Friday, September 23, the A00 aluminium ingot price went up by RMB 50 per tonne to settle at RMB 18,710 per tonne. The average price for the same is expected to range between RMB 18,690 per tonne and RMB 18,730 per tonne, with spot contracts to be traded at a discount price of RMB 70 to RMB 30...
LME aluminium price hits 18-month low as market braces for hefty interest rate rise; SHFE price inches down by US$1/t
LME aluminium opened at US$2,250.5 per tonne on Wednesday and closed at US$2,203 per tonne, down US$52 per tonne or 2.31 per cent. On Wednesday, September 21, aluminium prices dropped to their lowest in 18 months since March 2021 as markets prepared for another significant increase in US interest...
China’s A00 aluminium ingot price goes up by RMB110/t; Alumina price in Henan dwindles down RMB30/t
A00 aluminium ingot price has escalated by RMB 110 per tonne to close at RMB 18,660 per tonne, as the Shanghai Metals Market recorded on Thursday, September 22. The average prices are expected to range between RMB 18,640 per tonne and RMB 18,680 per tonne, with spot contracts trading at discount...
Vedanta’s aluminium ingot price accumulates INR1250/t on September 21
Vedanta Limited has added INR 1,250 per tonne to its aluminium ingot and aluminium products prices, with effect from Wednesday, September 21. That followed a cut of INR 3,250 per tonne on Tuesday, September 20. On September 21, Vedanta’s aluminium ingot price has come in at INR 207,500- 237,000 per...
