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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LME aluminium benchmark price inches up by 2.14% to US$2438.5/t; SHFE gains US$35/t
LME aluminium opened at US$2,392.5 per tonne on Tuesday and closed at US$2,428 per tonne, up US$39.5 per tonne or 1.65 per cent. LME aluminium cash bid price stopped at US$2,438 per tonne, with a 2.14 per cent or US$51 per tonne growth on Tuesday, August 23, while LME aluminium official settlement...
Vedanta’s aluminium ingot price gains INR1250/t on August 23 after two cuts in a row
After the two consecutive cuts, Vedanta’s aluminium ingot and products prices have seen a slight rise on Tuesday, August 23. The company has increased its aluminium ingot price by INR 1,250 per tonne to INR 220,250-249,750 per tonne, following a reduction of INR 2,500 per tonne on August 20 to INR...
China’s A00 aluminium price sheds RMB10/t showing no massive change in provinces; Low carbon aluminium loses RMB10/t
A00 aluminium ingot price in China has dropped by RMB 10 per tonne on August 23, Tuesday. According to the Shanghai Metals Market, the price has accurately settled at RMB 18,570 per tonne, with average prices estimated to range between RMB 18,550 per tonne and RMB 18,590 per tonne and spot...
Forging industry in India's most industrialized state is facing challenges due to rising material costs
The forging industry in India's largest industrialized state, Tamil Nadu, is encountering a challenging phase as the cost of production materials like aluminium and steel and fuel has soared. Despite a revival in demand, the industry faces higher expenses and difficulty obtaining raw materials....
LME aluminium price grows by US$11.5/t to US$2,387.50/t; SHFE price slips by US$9/t
LME aluminium opened at US$2,405 per tonne on Monday and closed at US$2,388.5 per tonne, down US$5 per tonne or 0.21 per cent. On Monday, August 22, both LME aluminium cash bid price and LME aluminium official settlement price went up by US$11.5 per tonne or 0.48 per cent to settle at US$2,387 per...
Hindalco's aluminium wire rod price further slumps by INR2500/t in line with LME aluminium price shrink
Hindalco Industries Limited has continued to reduce its aluminium products and aluminium ingot prices, in tandem with an uninterrupted downfall in the LME aluminium benchmark price for three days in a row. With effect from Saturday, August 20, Hindalco’s aluminium wire price has been decreased by...
Alumina spot price loses RMB5/t to start the week at RMB2953/t; but A00 aluminium ingot price edges up to cross RMB18500/t
The average alumina spot price in China has again recorded a drop of RMB 5 per tonne on Monday, August 22, after an intermittent restraint on Friday, August 19, found the Shanghai Metals Market. The decline today has brought the alumina spot price to RMB 2,953 per tonne. In Shandong and Shanxi,...
LME aluminium benchmark price stoops by 1.49% to US$2376/t; SHFE marks US$19/t growth
LME aluminium opened at US$2,404 per tonne last Friday, with its high and low at US$2,411 per tonne and US$2,375 per tonne respectively before closing at US$2,393.5 per tonne, a drop of US$11.5 per tonne or 0.48 per cent. LME aluminium cash bid price stopped at US$2,375.50 per tonne, with a 1.43...
Primary aluminium weekly recap: Sichuan power crisis reduces aluminium capacity by 395,000 tonnes; Fourth integrated aluminium industry may emerge in India
The global primary aluminium segment witnessed some important events this week. To begin with, by the end of September 2022, Slovalco Aluminium will shut down its primary aluminium manufacturing line. The Adani Group, backed by Indian billionaire Gautam Adani, revealed a $5 billion investment plan...
Vedanta’s aluminium wire rod & billet prices shrink by INR3000/t on August 18 after an intermittent raise
Vedanta Limited again reduced its aluminium products and aluminium ingot prices on August 18 after an intermittent raise on August 17. Vedanta cut its aluminium wire rod price by INR 3,000 per tonne or 1.29 per cent to INR 229,000-236,500 per tonne as of August 18 versus INR 232,000-239,500 per...
Sumitomo Corp. anticipates Japanese aluminium premiums to trade between US$125 and US$175 a tonne in 2023
Sumitomo Corporation, one of the world’s largest trading companies, has anticipated Japanese aluminium premiums to range between US$125 and US$175 a tonne next year, compared to $148 a tonne in the September quarter, unless a disruption on the domestic supply side due to production cut or supply...
China’s A00 aluminium price closes week at RMB18420/t with a plunge; Low carbon aluminium loses RMB250/t
A00 aluminium ingot price in China has plummeted by RMB 220 per tonne on August 19, Friday. According to the Shanghai Metals Market, the price has precisely settled at RMB 18,420 per tonne, with average prices estimated to range between RMB 18,400 per tonne and RMB 18,440 per tonne and spot...
LME aluminium price moves down by 0.08% to US$2,412/t; SHFE price declines by US$40/t
LME aluminium opened at US$2,404.5 per tonne on Thursday, with its high and low at US$2,440.5 per tonne and US$2,381 per tonne, respectively, before closing at US$2,405 per tonne, a drop of US$8.5 per tonne or 0.35 per cent. On Thursday, August 18, the LME aluminium cash bid price went down by...
NALCO cuts its aluminium ingot price by INR4700/t in line with the downsize of LME aluminium price
National Aluminium Company Limited (NALCO) has further reduced its aluminium ingot price since the last trim more than two weeks ago. On Thursday, August 18, the company's aluminium ingot price witnessed a cut of INR 4,700 per tonne to INR 221,950- 225,450 per tonne versus INR 226,650-230,150 per...
Amcor profit rises by 6% amidst elevated prices of plastic, resin and aluminium
Amcor, one of the most prominent packaging organisations in the world, amounted to US$1.53 billion or AUD2.2 billion of excess imports to its consumer decks and recorded a 12 per cent price hike in the financial year 2022 due to the escalating prices of plastic films, resin and aluminium. The Chief...
A00 aluminium ingot price in China expands by RMB160/t to RMB 18,640/t; Alumina price dips by RMB1/t
On Thursday, August 18, China's A00 aluminium ingot price has gone up by RMB 160 per tonne to settle at RMB 18,640 per tonne, as recorded by the Shanghai Metals Market (SMM). The average price for the same is expected to range between RMB 18,620 per tonne and RMB 18,660 per tonne, with spot...
Hindalco continues to reduce its aluminium ingot price by INR5500/t with effect from August 18
Hindalco Industries Limited has further slashed its aluminium ingot and aluminium products prices, with effect from Thursday, August 18, following a dip last week, August 13. Hindalco’s aluminium ingot price has been reduced by INR 5,500 per tonne or 2.4 per cent to INR 223,500 per tonne. On August...
LME aluminium benchmark price slides down by 1.15% to US$2414/t; SHFE collects US$29/t
LME aluminium opened at US$2,400 per tonne on Wednesday and hit a high of US$2,440.5 per tonne before closing at US$2,413.5 per tonne, up US$17 per tonne or 0.71 per cent. LME aluminium cash bid price stopped at US$2,413.50 per tonne, with a 1.09 per cent or US$26.50 per tonne plunge on Wednesday,...
