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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Primary aluminium weekly recap: EGA meets and greets global aluminium industry leaders to discuss decarbonising electricity generation; Aluminium association reports 5.3% growth in domestic aluminium demand in 1Q2022
The aluminium industry is slowly taking its step toward a greener and more sustainable environment. For example, to minimize greenhouse gas emissions, GE Power had signed a contract to upgrade Emirates Global Aluminium’s (EGA) Al Taweelah power plant gas turbines. This idea will assist the UAE to...
LME aluminium benchmark price trends down this week to US$2823/t; SHFE price slumps to US$3085/t
The LME aluminium benchmark price has showcased a downswing this week after a prolonged period of hikes. Although both the LME aluminium cash bid price and LME aluminium official settlement price started the week on Monday, May 23, with a jump of US$32 per tonne to US$2,962 per tonne and US$2,963...
China’s A00 aluminium ingot price closes the week higher at RMB20800/t; High purity aluminium prices hike RMB300/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...
LME aluminium price climbs down by US$4/t to US$2,825.50/t; SHFE price surges by US$24/t
LME aluminium opened at US$2,875 per tonne on Thursday and closed at US$2,866 per tonne, down US$2 per tonne or 0.07 percent. On Thursday, May 26, both LME aluminium cash bid price and LME aluminium official settlement price moved down for the third day to settle at US$2,825 per tonne and...
NALCO’s aluminium ingot price builds up by INR3200/t with effect from May 25
National Aluminium Company Limited (NALCO) further increased its aluminium ingot and aluminium products prices, although at a much slower rate than the previous time, in tandem with the growth in the LME aluminium benchmark price during May 19-24. With effect from Wednesday, May 25, NALCO raised...
NALCO books highest ever profit of INR 2,952 crore in FY2022 on nameplate aluminium output and soaring prices
On Wednesday, May 25, National Aluminium Company Limited (NALCO), the Navratna CPSE, announced its fiscal report for 2021-22, revealing robust performances and surpass of several milestones. The company said in a regulatory filing that it achieved the best ever annual production and sales during...
China’s A00 aluminium ingot price reduces to RMB20500/t with RMB30/t cut; Imported bauxite prices soar high
A00 aluminium ingot price has declined by RMB 30 per tonne to settle at RMB 20,500 per tonne on Thursday, May 26, dropping for the third day, as noted by the Shanghai Metals Market (SMM). The average prices are estimated to range between RMB 20,480 per tonne and RMB 20,520 per tonne, with spot...
LME aluminium price falls for the second day at US$2829.50/t; SHFE price declines by US$11/t
LME aluminium opened at US$2,889.5 per tonne on Wednesday and closed at US$2,868 per tonne, down US$9 per tonne or 0.31 per cent. On Wednesday, May 25, both LME aluminium cash bid price and LME aluminium official settlement price dropped for the second day by US$51.5 per tonne or 1.78 per cent to...
Hindalco’s aluminium ingot price further uptrends by 1% with effect from May 24
Hindalco Industries’ aluminium ingot and aluminium products prices further trended up by INR 2,750 per tonne or 1 per cent, with effect from Tuesday, May 25. That brought the company’s aluminium ingot price to INR 264,500 per tonne versus INR 261,750 per tonne on May 21. Hindalco’s aluminium wire...
Vedanta’s aluminium wire rod & billet prices escalate by INR2750/t with effect from May 24
Vedanta Limited continued to increase its aluminium products and aluminium ingot prices by INR 2,750 per tonne or 1 per cent, marking the fifth consecutive hike. With effect from Tuesday, May 24, Vedanta’s aluminium wire rod price grew to INR 271,750 – 279,250 per tonne from INR 269,000 – 276,500...
Alumina price on constant decline to RMB2995/t; A00 China aluminium ingot price shrinks by RMB80/t
Today's alumina spot price in China has stopped at RMB 2,995 per tonne, declining by RMB 1 per tonne, as found in the SMM data. The alumina price in Shanxi has dropped by RMB 5 per tonne to halt at RMB 2,920 per tonne. The Australian alumina FOB price has decreased by US$ 4 per tonne, closing at...
LME aluminium price slumps by 2.8% after two consecutive hikes; SHFE price falls to US$3072/t
Three-month LME aluminium opened at US$2,957 per tonne on Tuesday and closed at US$2,877 per tonne, down US$78 per tonne or 2.64 per cent. Both LME aluminium cash bid price and LME aluminium official settlement price decreased on Tuesday, May 24, after two consecutive days of hike. While the former...
China’s prebaked anode exports grew 8% in April’22, with a lion share sent to Malaysia
The General Administration of Customs found China’s total exports of prebaked anode reached 185,500 tonnes in April 2022, which were 8.22 per cent higher month-on-month and 63.86 per cent year-on-year. Export value amounted to US$192 million, with a unit price of $1,035.81 per tonne. China exported...
Alumina price in China drops by RMB4/t resting at RMB2996/t; A00 aluminium ingot price crash-dives RMB230/t
On Tuesday, May 24, the average alumina spot price in China has stopped at RMB 2,996 per tonne, declining by RMB 4 per tonne, as found in the SMM data. The alumina price in Henan has also dropped by RMB 10 per tonne to halt at RMB 3,060 per tonne. A00 aluminium ingot price has plummeted after four...
LME aluminium price opens the week with a growth of US$32/t to US$2,963/t; SHFE price drops by US$9/t
LME aluminium opened at US$2,975 per tonne on Monday and closed at US$2,955 per tonne, down US$14.5 per tonne or 0.49 percent. On Monday, May 23, both LME aluminium cash bid price and LME aluminium official settlement price hiked by US$32 per tonne or 1.09 per cent to settle at US$2,962 per tonne...
Hindalco’s aluminium billets price continues to upswing by 2.89% w.e.f. May 21
Hindalco Industries Limited further raised its aluminium products and aluminium ingot prices on Saturday, May 21, for the second time in a week. A previous hike was on May 18 when Hindalco expnded its aluminium billets price by INR 10,500 per tonne to INR 268,100 per tonne. Three days later,...
China’s alumina spot price falls successively by RMB7/t; A00 aluminium ingot price on boost recording RMB20840/t
The average alumina spot price has dropped for the fourth day in a row by RMB 7 per tonne to come in at RMB 3,000 per tonne as of Monday, May 23, found the Shanghai Metals Market. The alumina price in Lianyungang and Bayuquan has decreased by RMB 50 per tonne to record at RMB 3,050 per tonne and...
LME aluminium price expands by US$105/t after an intermittent drop; SHFE builds up US$39/t to US$3129/t
Three-month LME aluminium price opened at US$2,935 per tonne last Friday and closed at US$2,969.50 per tonne, an increase of US$63 per tonne or 2.17 per cent. On Friday, May 20, both LME aluminium cash bid price and LME aluminium official settlement price skyrocketed by over US$100 per tonne after...
