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 price slips by RMB3/t to RMB2957/t; A00 aluminium ingot price loses RMB180/t
The average alumina spot price in China has stopped at RMB 2,957 per tonne, declining by RMB 3 per tonne, on Tuesday, June 14, as the SMM data shows. The alumina price in Henan has dropped by RMB 10 per tonne to halt at RMB 3,020 per tonne. In Guizhou, the alumina price has marked the highest...
LME aluminium price nosedives for the second day by US$105.5/t; SHFE price plunges by US$46/t
LME aluminium opened at US$2,674 per tonne on Monday and closed at US$2,637 per tonne, down US$45.5 per tonne or 1.7 per cent. On Monday, June 13, both LME aluminium cash bid price and LME aluminium official settlement price dropped majorly by US$105.5 per tonne or 3.91 per cent, due to the...
Hindalco’s aluminium ingot price experiences a cut of INR5500/t with effect from June 11
Hindalco Industries Limited narrowed down its aluminium ingot and aluminium products prices, with effect from Saturday, June 11, following a hike on June 9. Hindalco’s aluminium ingot price came in at INR 242,750 per tonne, seeing a cut of INR 5,500 per or 2.22 per cent from INR 248,250 per tonne....
LME aluminium price drops the lowest in six months at US$2694.5/t; SHFE sheds US$71/t to start week at US$3000/t
LME aluminium opened at US$2,760 per tonne last Friday and closed at US$2,682.5 per tonne, a drop of US$77.5 per tonne or 2.81 per cent. LME aluminium price has decreased exponentially due to weak economic growth diminishing the metals’ demand in the market. Moreover, the second round of Covid-19...
A00 aluminium ingot price in China opens the week with a plunge of RMB400/t; Average alumina spot price slips by RMB4/t
On Monday, June 13, A00 aluminium ingot price in China halted at RMB 20,100 per tonne, falling sharply by RMB 400 per tonne, as shown in the SMM data. The average price is expected to hover between RMB 20,080 per tonne and RMB 20,120 per tonne, with spot contract to be traded at a discount price of...
Vedanta’s aluminium ingot price suffers a loss of INR5500/t on June 11
Vedanta Limited has reduced its aluminium ingot and aluminium products prices by INR 5,500 per tonne or 2 per cent, with effect from Saturday, June 11, following a hike on June 9. That has brought the company’s aluminium ingot price to INR 242,500-275,500 per tonne versus INR 248,000-281,000 per...
Weekly Recap: LME aluminium price slips by US$47/t through the week to US$2695/t; SHFE plummets by US$76/t
LME aluminium cash bid price and LME aluminium official settlement price resumed the week on Monday, June 6, with a sharp rise of US$40 per tonne and US$40.50 per tonne to come in at US$2,741 per tonne and US$2,742 per tonne, respectively. On Tuesday, June 7, the prices decreased by US$27 per tonne...
Hindalco’s aluminium ingot price uptrends by 1.74% to INR248,250/t with effect from June 9
On Thursday, June 9, Hindalco Industries Limited’s aluminium ingot and aluminium products prices trended up by INR 4,250 per tonne or 1.74 per cent. That brought the company’s aluminium ingot price to INR 248,250 per tonne from INR 244,000 per tonne on June 8. As per the data revealed by the...
China’s A00 aluminium ingot price loses RMB280/t to close the week lower at RMB20500/t; China’s alumina price on gradual decline to RMB2964/t
On Friday, June 10, the average alumina spot price in China stopped at RMB 2,964 per tonne, declining by RMB 8 per tonne, as the SMM data shows. The alumina price in Henan has dropped by RMB 15 per tonne to halt at RMB 3,035 per tonne. Alumina's price in Guizhou has marked RMB 5 per tonne fall,...
LME aluminium benchmark price dips by 0.47% to close at $2752.5/t; SHFE price plummets by US$53/t
LME aluminium opened at US$2,836 per tonne on Thursday, June 9, and closed at US$2,760 per tonne, down by US$76 per tonne or 2.68 per cent. LME aluminium cash bid price and LME aluminium official settlement price decreased on an alternate day, June 9, by US$13 per tonne or 0.47 per cent to stand at...
LME aluminium benchmark price surges by US$50.5/t to US$2,765.50; SHFE price goes up by US$5/t
LME aluminium opened at US$2,788 per tonne on Wednesday and closed at US$2,836 per tonne, up US$49.5 per tonne or 1.78 per cent. LME aluminium cash bid price expanded by US$51 per tonne or 1.87 per cent to score at US$2,765 per tonne. LME aluminium official settlement price also witnessed growth by...
NALCO deducts INR10300/t from aluminium ingot price bringing the selling price to INR243,950- 247,450/t on June 8
National Aluminium Company Limited has continued to reduce its aluminium ingot and aluminium products prices, with effect from Wednesday, June 8, following the previous cut on May 28. As per the revised prices revealed by NALCO, the company has deducted INR 10,300 per tonne from its previous...
A00 aluminium ingot price in China drops RMB20/t twice this week; Bauxite price marks RMB2.5/t rise
China’s A00 aluminium ingot price falls for two days in a row by RMB 20 per tonne to stand at RMB 20,800 per tonne, as recorded by the Shanghai Metals Market on Wednesday, June 8. The average prices are supposed to range between RMB 20,780 per tonne and RMB 20,820 per tonne, with spot contracts...
US domestic primary aluminium production sees a QoQ hike of 11,000 tonnes in 1Q2022
According to the US Census Bureau data, the United States’ domestic primary aluminium production in March 2022 recorded an increase of 9,000 tonnes or 12 per cent month-on-month to stand at 84,000 tonnes. However, in February, the output stood 8.54 per cent lower at 75,000 tonnes compared to 82,000...
LME aluminium benchmark price slips by US$27/t to US$2,715/t; SHFE price falls by US$12/t
LME aluminium opened at US$2,787.5 per tonne on Tuesday and closed at US$2,786.5 per tonne, down US$2.5 per tonne or 0.09 per cent. On Tuesday, June 7, both LME aluminium cash bid price and LME aluminium official settlement price declined by US$27 per tonne or 0.98 per cent to close at US$2,714 per...
Vedanta’s aluminium wire rod price sees a hike of INR3750/t or 1.5% on June 7
Vedanta Limited further expanded its aluminium products and aluminium ingot prices, with effect from Tuesday, June 7. The company’s wire rod price saw a hike of INR 3,750 per tonne or 1.5 per cent on Tuesday to come in at INR 253,500-261,000 per tonne. On June 5, Vedanta’s aluminium wire rod price...
China’s A00 aluminium ingot price stoops down by RMB20/t to RMB20820/t; Alumina price dips by RMB1/t
A00 aluminium ingot price has dropped by RMB 20 per tonne to settle at RMB 20,820 per tonne on Tuesday, June 7, after a day of sizeable price rise, as noted by the Shanghai Metals Market (SMM). The average price of aluminium ingots are estimated to range between RMB 20,800 per tonne and RMB 20,840...
LME aluminium benchmark price edges 1.5% higher to US$2742/t; SHFE price declines by US$16/t
LME aluminium opened at US$2,758 per tonne on Monday and closed at US$2,789 per tonne, up US$65 per tonne or 2.39 per cent. Both LME aluminium cash bid price and LME aluminium official settlement price resumed the market after the Bank Holiday with a sharp rise of US$40 per tonne and US$40.50 per...
