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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Vedanta Limited cuts aluminium wire rod & billet prices by 3% with effect from May 10
Vedanta Limited is continuing to cut its aluminium products and aluminium ingot prices in line with the incessant downfall of the LME aluminium benchmark price. On Tuesday, May 10, Vedanta slashed its aluminium wire rod price by INR 8,250 per tonne or 3.2 per cent to INR 249,750 - 257,250 per...
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China’s A00 aluminium ingot price hikes by RMB480/t; Aluminium alloy (A356) price surges by RMB500/t
On Wednesday, May 11, China’s A00 aluminium ingot price has surged by RMB 480 per tonne, after witnessing downfall since May 5, says SMM data. The price for today has been recorded at RMB 20,120 per tonne, with average price expected to range between RMB 20,100 per tonne and RMB 20,140 per tonne...
Hindalco increases its price cut rate to 3.25% bringing aluminium wire rod price to INR253350/t
Hindalco Industries Limited has continued to slash its aluminium products and aluminium ingot prices, with effect from May 10, 2022. This marks the seventh consecutive price cut by Hindalco since April 21. On May 10, Hindalco’s aluminium wire rod price has come in at INR 253,350 per tonne, down by...
Pandemic in China affects M-o-M unwrought and semi-finished aluminium exports in April’22
Unwrought aluminium and aluminium semis exports were roughly 596,900 tonnes in April 2022, up 0.42 per cent M-o-M and 36.49 per cent Y-o- Y, finds the latest figures from the General Administration of Customs. On a Y-o-Y calculation, unwrought aluminium and aluminium semis export for January to...
LME aluminium price drops drastically for the third day at US$2708/t; SHFE tumbles down to US$2940/t
LME aluminium opened at US$2,748 per tonne on Monday and closed at US$2,742 per tonne, down US$7 per tonne or 0.25 per cent. LME aluminium cash bid price collapsed to US$2,707 per tonne with a 4.41 per cent or US$125 per tonne decline. The LME aluminium official settlement price halted at US$2,708...
A00 aluminium ingot price declines for the fourth day to RMB19640/t; imported bauxite price from Guinea grows by $2/t after over a month
A00 aluminium ingot price in China has decreased for the fourth day in a row by RMB 140 per tonne to stand at RMB 19,640 per tonne as of Tuesday, May 10, according to the Shanghai Metals Market data. The average prices are estimated to range between RMB 19,620 per tonne and RMB 19,660 per tonne,...
LME aluminium falls by US$84.50/t to US$2,832.50; SHFE falls significantly to US$2957/t
LME aluminium opened at US$2,936 per tonne last Friday and closed at US$2,835 per tonne, down US$101 per tonne or 3.44 per cent. LME aluminium cash bid price and official settlement price halted at US$2,832 per tonne and US$2,832.50 per tonne, respectively, both experiencing a decrease of 2.9 per...
China’s A00 aluminium ingot price nosedives by RMB520/t; Aluminium alloy (A356) price plunges by RMB500/t
China’s A00 aluminium ingot price has closed at RMB 19,780 per tonne, after witnessing a plunge of RMB 520 per tonne. The average price for today is expected to range between RMB 19,760 per tonne and RMB 19,800 per tonne, with spot contract to be traded at a discount price of RMB -50 to RMB -10 per...
End-user weekly recap: CPA concerned for the British construction sector due to commodity price hike; Alumil receives international C2C certification to practice sustainable construction
Construction Products Association (CPA) predicts that market inflammation might leave a permanent scar on the British construction sector as labour supply crunch, increasing price of electricity, the rising cost of raw materials and the Ukraine war delay construction in the UK. Alumil has become...
Vedanta Limited reduces aluminium wire rod price by 1% with effect from May 6
Vedanta Limited further reduced its aluminium products and aluminium ingot prices on May 6, in response to the LME aluminium benchmark price fall. The company cut its aluminium wire rod price by INR 2,250 per tonne to INR 263,000 – 270,500 per tonne versus INR 265,250 -272,750 per tonne on May 5....
Primarily aluminium weekly recap: Rusal sanctions would unsettle aluminium market, Rio Tinto acknowledges; Hydro reports profitable 1Q2022, with adjusted EBIDTA closing at NOK 11,165 million
The primary aluminium industry had witnessed a plunge in LME aluminium price by US$127.5 per tonne to close at US$2,911.50 per tonne on Tuesday, May 3, which increased by 0.60 percent or US$17.50 per tonne to settle at US$2,929 per tonne on Wednesday, May 4. The official settlement price for...
Hindalco Industries’ aluminium ingot price declines by INR2250/t with effect from May 6
Hindalco Industries’ aluminium ingot and aluminium products prices again saw a cut on Friday, May 6, but at a lower rate compared to the previous day. According to the latest price list, the company reduced its aluminium ingot price by INR 2,250 per tonne or 0.87 per cent to INR 255,500 per tonne....
Hindalco’s aluminium billets price sees a fifth consecutive cut of INR9000/t with effect from May 5
Hindalco Industries Limited’s aluminium products and aluminium ingot prices continued to see a plunge on May 5 for the fifth consecutive time since April 21, 2022. As per the latest price list revealed by the company, aluminium billets price saw a cut of 3.2 per cent or INR 9,000 per tonne to come...
LME inclining downwards at US$2917/t; SHFE further bends to US$3053/t
LME aluminium opened at US$2,997 per tonne on Thursday and closed at US$2,936 per tonne, down US$49 per tonne or 1.64 per cent. LME aluminium cash bid price and official settlement price halted at US$2,916.50 per tonne and US$2,917 per tonne, respectively, both experiencing a 0.41 per cent or US$12...
China’s A00 aluminium ingot price dwindles by RMB420/t; Aluminium alloy (A356) price slumps by RMB400/t
As per Shanghai Metals Market (SMM), China’s A00 aluminium ingot price has declined by RMB 420 per tonne to score at RMB 20,300 per tonne. The average price for the same is expected to range between RMB 20,280 per tonne and RMB 20,320 per tonne, with spot contract to be traded at a discount price...
NALCO reduces its aluminium ingot price by INR5800/t with effect from May 1
National Aluminium Company Limited further reduced its aluminium ingot and aluminium products prices just after two days from the last cut. With effect from May 1, 2022, NALCO slashed its aluminium ingot price by INR 5,800 per tonne compared to the cut of INR 10,000 per tonne on April 28. Since,...
Vedanta’s aluminium wire rod & billet prices see a sharp downfall of INR10500/t with effect from May 4
Vedanta Limited further reduced its aluminium products and aluminium ingot prices, with effect from May 4, 2022, for the fifth consecutive time since April 23. According to the revised prices, Vedanta is currently selling its aluminium wire rod at INR 263,500-271,000 per tonne after cutting it by...
Profits at aluminium smelters dwindle by RMB954/t to RMB2590/t
Aluminium smelters' raw material costs were mostly steady last week. The removal of import levies and diminishing local demand drove down thermal coal prices. As of Friday, April 29, the complete cost of smelting dropped by RMB 35 per tonne from a week before to stop at RMB 18,220 per tonne, while...
