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 elevates by RMB50/t; Alumina price in Henan loses RMB5/t
A00 aluminium ingot price has seen an escalation of RMB 50 per tonne to begin the week at RMB 18,220 per tonne, as recorded by the Shanghai Metals Market on Wednesday, August 3. The average prices are expected to range between RMB 18,200 per tonne and RMB 18,240 per tonne, with spot contracts to be...
Hindalco Industries cuts its aluminium ingot price by INR4250/t with effect from August 3
Hindalco Industries Limited has slashed its aluminium ingot and aluminium products prices, with effect from August 3, 2022. The company has reduced its ingot price by INR 4,250 per tonne or 1.86 per cent to INR 224,000 per tonne on August 3. On July 29, the price came in at INR 228,250 per tonne,...
LME aluminium price plunges by US$21/t to US$244.50/t; SHFE price surges by US$12/t
LME aluminium opened at US$2,445.5 per tonne on Tuesday and closed at US$2,414 per tonne, down US$36 per tonne or 1.47 per cent. On Tuesday, August 2, both LME aluminium cash bid price and LME aluminium official settlement price declined by US$21 per tonne or 0.85 per cent to halt at US$2,448 per...
China records lowest prebaked anode export rate amidst heightened aluminium production
The data gathered in customs said that in June 2022, China witnessed a decrease of 37.95 per cent from the last month and 16.48 per cent from the same time span the previous year to close its export volume of prebaked anodes at 131,000 tonnes, which is still the lowest in the year. Yet, the customs...
Vedanta Limited trims aluminium wire rod & billet prices by INR1250/t with effect from July 30
Vedanta Limited trimmed its aluminium products and aluminium ingot prices, with effect from Saturday, July 30, in line with a drop at the end of last week, July 29. Vedanta cut its aluminium wire rod price by INR 1,250 per tonne from INR 233,500- 241,000 per tonne to INR 232,250- 239,750 per tonne....
LME aluminium benchmark price heightens by US$17.50/t to begin week; SHFE plummets US$43/t
LME aluminium opened at US$2,481.5 per tonne on Monday and closed at US$2,450 per tonne, a drop of US$32.5 per tonne or 1.31 per cent. LME aluminium cash bid price stopped at US$2,469 per tonne, with a 0.77 per cent or US$19 per tonne escalation to begin the week on August 1, while LME aluminium...
China’s A00 aluminium ingot price plunges by RMB130/t; Low carbon aluminium price descends by RMB113/t
Following a hike for three consecutive days from July 27 to July 29, China’s A00 aluminium ingot price dropped on Monday and Tuesday. As of August 2, the primary aluminium ingot price declined further by RMB 130 per tonne to rest at RMB 18,170 per tonne. The average price for the same is expected...
LME aluminium price drifts lower by US$6/t to US$2,452/t; SHFE price falls by US$48/t
LME aluminium opened at US$2,462 per tonne last Friday and closed at US$2,482.5 per tonne, an increase of US$17.5 per tonne or 0.71 per cent. After witnessing a hike the previous day, both LME aluminium cash bid price and LME aluminium official settlement price slumped by US$7 per tonne or 0.28 per...
A00 aluminium ingot price suffers a loss of RMB320/t after three hikes; but aluminium alloys(ADC12) price grows to RMB18350/t
A00 aluminium ingot price in China has plummeted by RMB 320 per tonne after three consecutive days of rally from RMB 17,840 per tonne to RMB 18,620 per tonne, found the Shanghai Metals Market. As of Monday, August 1, the primary aluminium ingot price has come in at RMB 18,300 per tonne, with...
Primary aluminium weekly recap: Tiwai Point aluminium smelter in talks with power companies to continue operations beyond 2024; GFG Alliance's £586 million deal demands transparency from Scottish ministers
Some of the important events spotted under the global primary aluminium segment are the news of the Tiwai Point aluminium smelter in talks with power companies to continue operations beyond 2024. The Tiwai Point aluminium smelter, which Rio Tinto and the Sumitomo Group control through the joint...
China’s smelters flaunt high production rate amidst declining domestic aluminium price
The People’s Republic of China has some reports that display that the country’s aluminium output is estimated to continue at a high level. However, the price of this non-ferrous metal is heavily being downsized around the area. According to Antaike, a metals research organization under the state,...
LME aluminium price built up by US$20.5/t through the week to settle at US$2452/t; SHFE closed higher at US$2775/t
On Monday, July 25, LME aluminium cash bid price and LME aluminium official settlement price started the week with a downfall of US$28 per tonne and US$28.5 per tonne, respectively, to stand at US$2,431 per tonne and US$2,431.50 per tonne. On Tuesday, the prices increased by US$4 per tonne and...
Hindalco’s aluminium wire rod & billets prices see a hike of INR5500/t with effect from July 29
Hindalco’s aluminium ingot price and aluminium products prices have experienced a hike on Friday, July 29, after two downfalls on July 26 & 28. The price of the company’s aluminium wire rod price has come in at INR 239,350 per tonne, seeing an increase of INR 5,500 per tonne from the previous day....
Vedanta uplifts aluminium ingot price to INR226,000-257,500/t in line with LME aluminium price hike
Vedanta Limited has lifted its aluminium ingot and aluminium products prices, with effect from Friday, July 29, following a cut on the previous day, July 28. On Friday, Vedanta’s aluminium ingot price has come in at INR 226,000-257,500 per tonne, up by INR 5,250 per tonne or 2.38 per cent from the...
AMAG Austria posts record revenue at EUR904.3 million in 1H2022 supported by global aluminium price rally
AMAG Austria Metall AG, the biggest company in the Austrian Aluminium industry, has reportedly achieved record levels of revenue and earnings in the first half of 2022. As per the report published by the company, it has seen a growth of around 50 per cent in revenue from EUR 595.1 million in H1...
A00 aluminium ingot price in China augments by RMB260/t; Low carbon aluminium price grows by RMB250/t
On Friday, July 29, China’s A00 aluminium ingot price has augmented by RMB 260 per tonne to settle at RMB 18,620 per tonne. The average price for the same is expected to orbit between RMB 18,600 per tonne and RMB 18,640 per tonne, with spot contracts to be traded at a discount price of RMB 50 to...
LME benchmark aluminium price augments by US$67/t; SHFE witnesses US$44/t spike
LME aluminium opened at US$2,430 per tonne on Thursday and closed at US$2,465 per tonne, an increase of US$39 per tonne or 1.61 per cent. LME aluminium cash bid price stopped at US$2,457 per tonne, with a 2.8 per cent or US$67 per tonne escalation on Thursday, July 28, while LME aluminium official...
Domestic primary aluminium production in US surges 14% on year to 82,000 tonnes during April 2022
According to the latest data found by the US Geological Survey, the United States produced 82,000 tonnes of primary aluminium in April 2022, which was down by 2,000 tonnes from the output in March. But on a year-on-year basis, the output recorded a surge of 10,000 tonnes or 13.9 per cent from...
