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: Odisha government approves INR 428.95 crore budget for a mega aluminium park in Angul; Hydro plans to invest NOK 320 million in Karmøy aluminium smelter
This week the global primary aluminium sector witnessed a lot of major happenings. Many new projects and agreements were unlocked. To begin with, Hydro announced its plan to invest NOK 320 million in the Karmøy aluminium smelter. The project will start in the fourth quarter of 2022 and terminate in...
NALCO’s aluminium ingot price sees a sharp rise of more than 6% to INR255850 – 259350/t
After more than a week, National Aluminium Company Limited (NALCO) has revised its aluminium selling prices in accordance with the LME aluminium benchmark price trend. As the LME price has been on an upswing spree, NALCO has decided to expand its aluminium ingot and aluminium products prices. So,...
China’s A00 aluminium ingot price closes the week higher at RMB20770/t; Alumina price drops by RMB3/t
A00 aluminium ingot price has increased by RMB 260 per tonne to come in at RMB 20,770 per tonne on Friday, May 20, marking the third consecutive day of rise, found the Shanghai Metals Market (SMM). The average prices are estimated to range between RMB 20,750 per tonne and RMB 20,790 per tonne, with...
LME aluminium price drops by US$19/t to US$2826/t; SHFE price grows by US$62/t
LME aluminium opened at US$2,825 per tonne on Thursday and closed at US$2,938 per tonne, an increase of US$113 per tonne or 4 percent. On Thursday, May 19, both LME aluminium cash bid price and LME aluminium official settlement price dropped by US$19 per tonne or 0.66 per cent after experiencing a...
Vedanta’s aluminium ingot price mounts to INR253,750 – 289,450/t as LME price continues to rally
Vedanta Limited has continued to expand its aluminium ingot and aluminium products prices as the LME aluminium benchmark price records an interrupted growth. With effect from Wednesday, May 18, Vedanta has raised its aluminium ingot price by INR 4,750 per tonne or 1.9 per cent to INR 253,750 –...
HLIB holds “buy” rating on Press Metal Aluminium at a lower target price of RM7.59
Hong Leong Investment Bank Bhd (HLIB) has maintained its “buy” rating on Press Metal Aluminium Holdings (PMetal) at RM5.28, with a lower target price of RM7.59 (down from RM7.71). HLIB forecasted a net profit of between RM420 million and RM470 million for Press Metal in 1Q2022, up 47 per cent to 64...
LME aluminium price grows for the fourth consecutive day by US$9/t; SHFE mounts to US$3028/t
Three-month LME aluminium opened at US$2,881 per tonne on Wednesday and closed at US$2,825 per tonne, down US$57 per tonne or 1.98 per cent. On Wednesday, May 18, both LME aluminium cash bid and LME aluminium official settlement price continued to grow for the fourth day in a row but at a slower...
China’s A00 aluminium ingot price augments by RMB110/t to RMB20510/t; Aluminium alloy (A356) price surges by RMB100/t
On May 19, A00 aluminium ingot price in China has shot up by RMB 110 per tonne to close at RMB 20,510 per tonne, finds SMM. The average price is expected to orbit between RMB 20,490 per tonne and RMB 20,530 per tonne, with spot contract to be traded at a discount price of -20 per tonne and premium...
Hindalco raises its aluminium wire rod & billets prices by INR10500/t with effect from May 18
Hindalco Industries Limited has continued to increase its aluminium products and aluminium ingot prices as the global aluminium benchmark price on the London Metal Exchange rallies back-to-back. With effect from Wednesday, May 18, Hindalco’s aluminium wire rod price has experienced a sharp rise of...
Alumina price drops by RMB2/t after a restraint; A00 aluminium ingot price extends decline to RMB20400/t
According to the Shanghai Metals Market, the average alumina spot price in China has slipped by RMB 2 per tonne to settle at RMB 3,012 per tonne on Wednesday, May 18, following a restraint on the previous day. In Shanxi, the alumina price has dropped by RMB 5 per tonne to settle at RMB 2,955 per...
Coming soon! AlCircle’s next e-Magazine on “European Aluminium Industry: Focus 2022”
AlCircle is enthralled to announce its 11th publication of e-Magazine titled, “European Aluminium Industry: Focus 2022.” The e-Magazine will feature exclusive views and opinions from the key figures of the European aluminium industry and other stalwarts associated with the regional value chain. The...
LME aluminium price ascends by US$45/t to US$2,836/t; SHFE price inches up by US$1/t
LME aluminium opened at US$2,839 per tonne on Tuesday and closed at US$2,882 per tonne, an increase of US$47 per tonne or 1.66 per cent. On May 17, LME aluminium cash bid price and LME aluminium official settlement price both moved upwards by US$45 per tonne or 1.61 percent to settle at US$2,835...
Local brewery in US holds stack of aluminium cans waiting to be packed
CraftHaus, a small brewery in Nevada, United States, has piled up stocks of aluminium beverage cans on the line waiting to be packed, in addition to the can aluminium sheet problem. Wyndee Forrest, co-owner of CraftHaus Brewery, will not take a penny until the cans are completely filled with the...
ALRO’s consolidated turnover augments by 48% Y-o-Y in 1Q2022 driven by higher LME prices
On May 16, Romanian integrated aluminium company ALRO S.A. released its Interim Condensed Consolidated Financial Statements for the first quarter of 2022 (1Q2022). ALRO, one of the largest aluminium producers in Europe, registered a turnover of RON 1.1 billion in the first quarter of 2022, up 48...
Vedanta expands its aluminium billet price by INR5750/t in response to LME aluminium price rally for supply shortage in Europe
Vedanta Limited has further raised its aluminium products and aluminium ingot prices, with effect from Tuesday, May 17, in response to back-to-back LME aluminium price hike this week. As per the revised prices revealed, Vedanta has expanded its aluminium billet price by INR 5,750 per tonne or 2.29...
Aluminium scarcity in Europe will further erode 17-year low LME stocks
Aluminium supplies to Europe to fill the scarcity in the region will further lower the aluminium inventories in LME-approved warehouses over the coming days and weeks from its current 17-year low. Citi analyst Max Layton has analysed and noted that aluminium supply will continue to remain weak in...
China’s A00 aluminium ingot price declines by RMB90/t; High purity aluminium price also loses RMB100/t
A00 aluminium ingot price has again decreased on alternate day by RMB 90 per tonne to stand at RMB 20,420 per tonne, as recorded by the Shanghai Metals Market on Tuesday, May 17. The average prices are estimated to range between RMB 20,400 per tonne and RMB 20,440 per tonne, with spot contracts to...
LME aluminium price moves upward by US$68/t to US$2791/t; SHFE price falls by US$25/t
LME aluminium opened at US$2,824.5 per tonne on Monday and closed at US$2,835 per tonne, an increase of US$7 per tonne or 0.25 per cent. On Monday, May 16, LME aluminium cash bid price surged by US$69 per tonne or 2.53 per cent to score at US$2,790 per tonne. On the same day, LME aluminium official...
