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 wire rod price slumps by INR1250/t on June 21 in response to LME price fall
Hindalco Industries Limited has revised its aluminium products and aluminium ingot prices this week, which as per the data has drifted lower after back-to-back cuts on June 17 and June 18. As of June 21, Hindalco has slashed its aluminium wire rod price by INR 1,250 per tonne or 0.52 per cent to...
China’s A00 aluminium ingot price shoots up by RMB140/t to RMB19860/t; Aluminium alloy (A356) price escalates by RMB150/t
A00 aluminium ingot price has heightened by RMB 140 per tonne to settle at RMB 19,860 per tonne on Tuesday, June 21, following two consecutive declines from RMB 20,160 per tonne to RMB 19,720 per tonne, found the Shanghai Metals Market (SMM). The average prices are estimated to range between RMB...
LME aluminium benchmark price contracts by US$12/t to US$2462/t; SHFE price remains restraint at US$2961/t
LME aluminium opened at US$2,500 per tonne on Monday and closed at US$2,514 per tonne, an increase of US$11.5 per tonne or 0.46 per cent. On Monday, June 20, LME aluminium cash bid price dropped by US$12.5 per tonne or 0.50 per cent, and LME aluminium official settlement price slipped by US$12 per...
LME aluminium on constant decline at US$2474/t; SHFE begins the week with US$14/t boost
LME aluminium opened at US$2,518 per tonne last Friday and closed at US$2,503 per tonne, down US$18.5 per tonne or 0.73 per cent. LME aluminium cash bid price stood at US$2473.50 per tonne, with a 1.06 per cent or US$26.50 per tonne slump, according to London Metal Exchange. LME aluminium official...
China’s A00 aluminium ingot price plummets by RMB190/t ; Low carbon aluminium price drops by RMB210/t
A00 aluminium ingot price in China has plunged by RMB 190 per tonne to score at RMB 19,720 per tonne as of Monday, June 20. As per the SMM data, the average prices are expected to range between RMB 19,700 per tonne and RMB 19,740 per tonne, with spot contract to be traded at a premium price of RMB...
Primary aluminium weekly recap: Ghana eyes to become an integrated aluminium producer; Balco bids green, introduces biomass briquettes to generate power
The price of aluminium on the London Metal Exchange (LME) dropped dramatically as a result of sluggish economic development, which further reduced the market's demand for the metal. Also, China's interest rate rise had been aided by the second wave of Covid-19 lockdowns. As a result of this, On...
Hindalco’s aluminium ingot price sees a back-to-back cut to stand at INR227,000/t on June 17
On June 17, Hindalco Industries Limited further declined its aluminium ingot and aluminium products prices by INR 7,750 per tonne or 3.30 per cent. That brought the company’s aluminium ingot price to INR 227,000 per tonne from INR 234,750 per tonne on June 14. As per the data revealed by the...
Vedanta’s aluminium billet and wire rod prices slump by 3% on June 17 as LME price falls to the edge of US$2500/t
Vedanta Limited cuts its aluminium products and aluminium ingot prices, with effect from Friday, June 17, marking the third consecutive fall of prices since June 11. The company’s aluminium billet price has seen a deduction of INR 7,750 per tonne or 3.18 per cent to INR 235,750 per tonne as of June...
NALCO repeats the cut of INR10300/t from its aluminium ingot & products prices with effect from June 16
National Aluminium Company Limited (NALCO) has again slashed INR 10,300 per tonne like last week from its aluminium ingot and aluminium products prices, marking the third consecutive cut since May 28. With effect from June 16, NALCO’s aluminium ingot price came in at INR 233,650-237150 per tonne...
China’s A00 aluminium ingot price plunges by RMB250/t to close the week below RMB20,000/t; Bauxite price drops by RMB2.50/t
A00 aluminium ingot price in China has declined by RMB 250 per tonne to close the week, ending June 17, lower than RMB 20,000 per tonne. According to the Shanghai Metals Market, the price has precisely settled at RMB 19,910 per tonne, with average prices estimated to range between RMB 19,890 per...
Decline rate in China’s primary aluminium inventories increases W-o-W totalling 785,000 tonnes on June 16
According to the Shanghai Metals Market, primary aluminium inventories in China witnessed a sharp decline of 68,000 tonnes week-on-week. Therefore, as of Thursday, June 16, the inventories totalled 785,000 tonnes, which in comparison with Monday, June 13, dwindled by 40,000 tonnes. Last week, on...
LME aluminium price plunges by US$79.5/t to US$2,500.50/t; SHFE price slumps by US$62/t
LME aluminium opened at US$2,619 per tonne on Thursday and closed at US$2,521.5 per tonne, down US$93.5 per tonne or 3.58 per cent. On Thursday, June 16, both LME aluminium cash bid price and LME aluminium official settlement declined by US$79 per tonne or 3.06 per cent and US$79.5 per tonne or...
China’s A00 aluminium ingot price further escalates to RMB 20160/t; Aluminium powder price inches up by RMB0.10/kg
A00 aluminium ingot price in China has extended its rise for the second day in a row by RMB 90 per tonne to RMB 20,160 per tonne, found the Shanghai Metals Market. The average prices are expected to range between RMB 20,140 per tonne and RMB 20,180 per tonne, with spot contract to be traded at a...
LME aluminium benchmark price edges a fall of US$8/t to US$2580/t; SHFE price rebounds above US$3000/t
LME aluminium opened at US$2,567 per tonne on Wednesday and closed at US$2,615 per tonne, up US$57 per tonne or 2.23 per cent. But LME aluminium cash bid price and LME aluminium official settlement price continued to drop on June 15, marking the fifth consecutive day of downfall. Both the prices...
Hindalco Industries continues to trim aluminium ingot & products prices significantly by 3% w.e.f. June 14
Hindalco Industries Limited continued to trim its aluminium ingot and aluminium products prices in line with the downtrend price on the London Metal Exchange. With effect from June 14, Hindalco slashed its aluminium ingot price by INR 8,000 per tonne or 3.3 per cent to INR 234,750 per tonne. On...
LME aluminium price closes mid-week at US$2588/t with US$1.50/t cut; SHFE price declines to US$2951/t
LME aluminium opened at US$2,637 per tonne on Tuesday and closed at US$2,558 per tonne, down US$79 per tonne or 3 per cent. LME aluminium cash bid price collapsed to US$2,587 per tonne with a 0.08 per cent or US$2 per tonne decline, according to London Metal Exchange. The LME aluminium official...
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China’s A00 aluminium ingot price hikes by RMB150/t; Australian alumina FOB price moves up by US$6/t
On Wednesday, June 15, the A00 aluminium ingot price in China halted at RMB 20,070 per tonne, after witnessing a hike of RMB 150 per tonne. As per the SMM data, the average price is expected to stand between RMB 20,050 per tonne and RMB 20,090 per tonne, with spot contract to be traded at a premium...
Vedanta Ltd further deducts INR8000/t from its aluminium ingot price as LME price plunges to 6-month low
Vedanta Limited has more significantly reduced its aluminium ingot and aluminium products selling prices, with effect from June 14, in response to the LME aluminium price plunge for the third consecutive day. Vedanta has notified a cut of INR 8,000 per tonne or 3 per cent on its aluminium ingot to...
