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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On-warrant LME aluminium inventories drop 9.7% to a two-decade low; but price retreats from its gains on a weak demand outlook
Aluminium stocks in the London Metal Exchange have decreased to a record low but the sign of supply shortages has yet not wobbled the bearish sentiment of the global metal price anticipating weaker demand in the near future. According to the data shown by London Metal Exchange, on-warrant aluminium...
Hindalco expands its aluminium ingot price for three days in a row by INR2250/t on May 14
Hindalco Industries Limited raised its aluminium ingot and aluminium products prices for the third day in a row, with effect from Saturday, May 14. As per the revised prices, the company’s aluminium ingot price saw a rise of INR 2,250 per tonne or 1 per cent to INR 243,500 per tonne. On Friday, May...
China’s A00 aluminium ingot price opens the week with a hike of RMB400/t; Alumina spot price inches down by RMB2/t
China’s A00 aluminium ingot price has hiked by RMB 400 per tonne to close at RMB 20,510 per tonne, says SMM. The average price for the same is expected to range between RMB 20,490 per tonne and RMB 20,530 per tonne, with spot contract expected to be traded at a premium price of RMB 0-40 per tonne....
LME aluminium price gains US$35/t to close at US$2723/t; SHFE rebounds to exceed US$3000/t again
Three-month LME aluminium opened at US$2,785 per tonne last Friday and closed at US$2,828 per tonne, an increase of US$42 per tonne or 1.51 per cent. On Friday, May 13, LME aluminium cash bid price and LME aluminium official settlement price rose for an alternate day by US$35 per tonne to stand at...
Vedanta’s aluminium ingot price gains INR2000/t with effect from Saturday, May 14
Vedanta Limited has increased its aluminium ingot and aluminium products prices, with effect from Saturday, May 14, as the LME aluminium benchmark price regained by US$35 per tonne on Friday, May 13. On Thursday, Vedanta’s aluminium prices were slashed by INR 3,000 per tonne in response to the LME...
Primary aluminium weekly recap: Tiwai Aluminium seeks a power supplier for the smelter to secure its future beyond 2024; Dubal Holding collaborates with Nature Alu to establish UAE’s first high purity aluminium facility
This week, the global primary aluminium sector recorded a lot of positive events. To begin with, New Zealand Aluminium Smelters Limited (NZAS), which owns the Tiwai Point Aluminium Smelter, is now focused on guaranteeing the future beyond its 2024 closure date. On the market forefront, this week,...
LME aluminium benchmark price touched five-month low this week; SHFE closed higher at US$2,968/t
The LME aluminium benchmark price increased this week by US$15 per tonne but touched the five-month for an intermittent period. On Monday, May 9, LME aluminium cash bid price and LME aluminium official settlement price started the week with a decline to US$2,707 per tonne and US$2,708 per tonne and...
Alba’s gross profit excels by 121% in 1Q 2022 due to higher LME prices
Aluminium Bahrain B.S.C. (Alba) announced its financial results for the first quarter (Q1) 2022. As per the results, Alba, the world’s largest single-site aluminium smelter outside of China, earned a profit of BD146.8 million (US$390.4 million) in Q1’22, which on a Y-o-Y value went up by 181% from...
Hindalco raises its aluminium products prices by INR4750/t in response to intermittent LME price rise
Hindalco Industries Limited has finally raised its aluminium ingot and aluminium products prices, with effect from Thursday, May 12, after more than two weeks of back-to-back cuts for the LME aluminium price fall. Now, the company is selling its aluminium billets price at INR 258,600 per tonne...
China’s A00 aluminium ingot price slumps for the second day by RMB160/t; aluminium alloy(A356) price decreases by RMB150/t
A00 aluminium price in China has declined by RMB 160 per tonne on Friday, May 13, to settle at RMB 20,110 per tonne, according to the data collected from the Shanghai Metals Market. The average aluminium prices are expected to range between RMB 20,090 per tonne and RMB 20,130 per tonne, while spot...
LME aluminium price slips by US$49/t to US$2,688/t; SHFE price decreases by US$42/t
LME aluminium opened at US$2,778 per tonne on Thursday and closed at US$2,786 per tonne, an increase of US$4.5 per tonne or 0.16 per cent. On May 12, LME aluminium cash bid price closed at US$2,686 per tonne, and LME aluminium official settlement price halted at US$2,688 per tonne. The former had...
Google introduces Pixel 6a featuring recycled aluminium frame
The universal technology giant Google is ultimately launching the latest version of Android 12, Pixel 6a to carry on the lineage of its luxury Pixel range with compactness. This latest inclusion to the Pixel family features their patent camera strip at the back and most importantly its frame is...
Growth of aluminium scraps trading in Linyi slows down due to penurious demand
From May 2 to May 8, the throughput of aluminium scrap in Linyi, east China’s nonferrous metal city, settled at 12,386.03 tonnes, a surge of 2,255.47 tonnes from the previous week and up22.26 per cent on the month. Recyclers traded vigorously as a result of a minor increase in aluminium prices....
LME aluminium upturns after fourth day of fall to US$2737/t; SHFE exceeds the US$3000/t level
LME aluminium opened at US$2,758 per tonne on Wednesday and closed at US$2,781.5 per tonne, an increase of US$11.5 per tonne or 0.42 per cent. On 11th May, the LME aluminium cash bid price finally hiked by 2.24 per cent or US$60 to stop at US$2,736 per tonne. LME official settlement price trekked...
Operation resumption at aluminium enterprises further lifts A00 aluminium ingot price by RMB150/t; caustic soda price gains RMB15/t
A00 aluminium ingot price in China has extended growth by RMB 150 per tonne on Thursday, May 12, to stand at RMB 20,270 per tonne, found the Shanghai Metals Market. The average prices are estimated to range between RMB 20,250 per tonne and RMB 20,290 per tonne, with spot contract to be traded at a...
NALCO’s aluminium ingot price axed by INR27200/t on May 11 in line with LME price fall to the lowest this year
National Aluminium Company Limited has sharply axed its aluminium ingot and aluminium products prices for the third consecutive time since April 28, in response to the continued downfall in the LME aluminium benchmark price for over a week. More so, on Tuesday, May 10, the LME aluminium benchmark...
Hindalco Industries back-to-back cuts aluminium ingot price by INR2500/t as LME records 5-month low
Hindalco Industries Limited has further trimmed its aluminium ingot and aluminium products prices, following a major cut on the preceding day, May 10. As per the revised prices revealed on May 11, Hindalco has cut its aluminium ingot price by INR 2,500 per tonne to INR 239,750 per tonne. On...
LME aluminium price declines to a 5-month low at US$2677/t; SHFE finally rises to US$2980/t
LME aluminium opened at US$2,748 per tonne on Tuesday and closed at US$2,770 per tonne, an increase of US$21 per tonne or 0.76 per cent. However, LME aluminium cash bid price stood at US$2,676 per tonne, with a fall of 1.14 per cent or US$31 per tonne, as of May 10. LME aluminium official...
