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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China’s A00 aluminium ingot price contracts by RMB400/t to RMB 18,5602/t; Low carbon aluminium price descends by RMB370/t
On Tuesday, August 30, China’s A00 aluminium ingot price dropped by RMB 400 per tonne to settle at RMB 18,560 per tonne. The average price for the same is expected to range between RMB 18,540 per tonne and RMB 18,580 per tonne, with spot contracts to be traded at a discount price of RMB 60 to RMB...
Vedanta expands its aluminium wire rod price for the second day in a row by 2% on August 27
Vedanta Limited continued to expand its aluminium products and aluminium ingot prices on Saturday, August 27. The company hiked its aluminium wire rod price by INR 4,750 per tonne or 2 per cent to INR 237,250- 244,750 per tonne. On August 26, the price stood at INR 232,500- 240,000 per tonne,...
Aughinish Alumina may be affected by rising energy prices
In Ireland, businesses in County Kerry's northern part will have to bear a 50 million euro increase in electricity rates. This winter, 22 large energy firms are expected to absorb the 50 million euro cost of increased electricity prices, including Rusal's Aughinish Alumina refinery in North Kerry....
Rising energy prices lift LME aluminium benchmark price by US$52.5/t; SHFE price climbs up by US$5/t
LME aluminium opened at US$2,430 per tonne last Friday and closed at US$2,490 per tonne, an increase of US$54.5 per tonne or 2.24 per cent. Rising energy prices are affecting the aluminium industry more than ever. As a result, aluminium smelter production costs are also on the rise, which in turn...
China’s A00 aluminium ingot price gains RMB100/t to begin the week; Australian alumina FOB price slides down by US$2/t
A00 aluminium ingot price has faced an RMB 100 per tonne expansion to close at RMB 18,960 per tonne, as recorded by the Shanghai Metals Market on Monday, August 29. The average prices are expected to range between RMB 18,940 per tonne and RMB 18,980 per tonne, with spot contracts trading at a...
Downstream weekly recap: Nissan stops making engine cylinder heads in Sunderland facility; Forging industry in Tamil Nadu is facing challenges due to rising material costs
Downstream products merge to form various end-user utility items or structures, maintaining a steady rush in the sector. Nissan announced the closure of its Wearside cylinder head-making plant, which will disrupt employee statuses around the company, directly affecting 250 jobs. From 2024, the...
Hindalco’s aluminium ingot price experiences an increase of INR2000/t with effect from August 26
Hindalco Industries Limited has added on INR 2,000 per tonne to its aluminium ingot and aluminium products prices, with effect from Friday, August 26. This brings the company’s aluminium wire rod price to INR 238,350 per tonne, compared with INR 236,350 per tonne on August 25. Hindalco’s aluminium...
Right Brain Brewery owner worried about price rise and supply shortage of aluminium cans in US
The USA has been under severe aluminium can shortage since the spring of 2020, and this recurring problem has resulted in the closure of many bars and outlets serving alcoholic beverages. Breweries were also largely affected by inflated operational costs. Right Brain Brewery, located in Traverse...
LME aluminium price trended up this week by US$107.50/t; SHFE price accumulated US$18/t through the week
The LME aluminium benchmark price has reflected an upswing movement through the week by US$107.50 per tonne, with only an intermittent downfall. Both LME aluminium cash bid price and LME aluminium official settlement price started the week with a rise of US$11.50 per tonne or 0.48 per cent to...
NALCO’s aluminium ingot price builds up INR4100/t on August 26 in response to LME price uptrend
National Aluminium Company Limited (NALCO) has increased its aluminium ingot and aluminium products prices for the first time this month on August 26, following two consecutive cuts on August 1 and August 18. NALCO has raised its aluminium ingot price by INR 4,100 per tonne or 1.8 per cent to INR...
China’s A00 aluminium ingot price closes the week at RMB18,860/t with a drop; Average alumina spot price inches down by RMB1/t
On Friday, August 26, China's A00 aluminium ingot price went up by RMB 10 per tonne to rest at RMB 18,860 per tonne. The average prices are likely to range between RMB 18,840 per tonne and RMB 18,880 per tonne, with spot contracts to be traded at a discount price of RMB 40 per tonne. As per the SMM...
LME benchmark aluminium price marks 0.85% upward shift to US$2442.5/t; SHFE drops US$17/t
LME aluminium opened at US$2,624.6 per tonne on Thursday and closed at US$2,435.5 per tonne, an increase of US$9 per tonne or 0.37 per cent. LME aluminium cash bid price stopped at US$2,441.50 per tonne, with a 0.82 per cent or US$20 per tonne hike on Thursday, August 25, while LME aluminium...
Malaysia's Press Metal posted RM409.17 million in profits during the second quarter
Malaysian aluminium giant Press Metal Aluminium Holdings Bhd. has reported that its net profit for the second quarter of the financial year ended June 30, 2022 (Q2 FY2022) escalated by 60.1 per cent to RM409.17 million against RM255.58 million in the same quarter previous, boosted by enhanced...
Hindalco Industries’ aluminium ingot price drops by INR1750/t with effect from August 25
Hindalco Industries Limited has trimmed its aluminium ingot and aluminium products prices, with effect from Thursday, August 25, following a hike a day ago. The company has cut its aluminium ingot price by INR 1,750 per tonne to INR 225,250 per tonne. On August 24, the price was increased by INR...
LME aluminium benchmark price loses US$16.5/t to US$2422/t; SHFE price mounts to US$2,759/t
LME aluminium opened at US$2,405 per tonne on Wednesday and closed at US$2,426.5 per tonne, down US$1.5 per tonne or 0.06 per cent. On Wednesday, August 24, both LME aluminium cash bid price and LME aluminium official settlement price dropped by US$16.5 per tonne or 0.67 per cent to rest at...
China’s A00 aluminium ingot price receives RMB50/t boost; Bauxite price in Shanxi drops RMB10/t
A00 aluminium ingot price has seen an RMB 50 per tonne rise to close at RMB 18,870 per tonne, as recorded by the Shanghai Metals Market on Thursday, August 25. The average prices are expected to range between RMB 18,850 per tonne and RMB 18,890 per tonne, with spot contracts trading at a discount...
Vedanta expands its aluminium ingot price by 2% with effect from August 24
Vedanta Limited has expanded its aluminium ingot and aluminium products prices for the two back-to-back days, with effect from Wednesday, August 24. The company has increased its aluminium ingot price by INR 4,500 per tonne or 2 per cent to INR 224,750- 254,250 per tonne. On the previous day, the...
A00 aluminium ingot price in China grows by RMB250/t to RMB 18,820/t; Low carbon aluminium price gains RMB289/t
On Wednesday, August 24, China’s A00 aluminium ingot price has hiked by RMB 250 per tonne to settle at RMB 18,820 per tonne. The average price for the same is expected to range between RMB 18,800 per tonne and RMB 18,840 per tonne, with spot contracts to be traded at a discount price of RMB 40 per...
