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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LME travels up in graph to settle at US$2929/t; SHFE rises after the May Day vacation to US$3144/t
LME aluminium opened at US$2,924 per tonne on May 4 and closed at US$2,985 per tonne, an increase of US$57 per tonne or 1.95 per cent. On 4 th May, LME aluminium cash bid price and official settlement price halted at US$2,928.50 per tonne and US$2,929 per tonne, respectively, both experiencing a...
China’s alumina spot price gains RMB6/t after a week-long restraint; A00 aluminium ingot price shrinks to RMB20720/t
According to the Shanghai Metals Market, the average alumina spot price has increased by RMB 6 per tonne after remaining restrained at RMB 3,010 per tonne from April 22 to 29. Hence, as of May 5, the price is standing at RMB 3,016 per tonne. In Henan, alumina price has hiked by RMB 15 per tonne to...
LME aluminium price drifts lower by US$127.5/t to US$2911.50 /t; SHFE is closed till Wednesday for May Day
On Tuesday, April 3, LME aluminium cash bid price stood at US$2,911 per tonne, after experiencing a fall of US$127 per tonne or 4.18 percent. For the same day, LME aluminium official settlement price plunged by US$127.5 per tonne or 4.19 percent to peg at US$2911.50 per tonne. 3-month bid price and...
Vedanta reduces its aluminium ingot price for the fourth time in a row by INR3000/t w.e.f. April 30
Vedanta Limited continued to reduce its aluminium ingot and aluminium products prices for the fourth time in a row since April 21. With effect from April 30, 2022, Vedanta cut its aluminium ingot price by INR 3,000 per tonne or 1.11 per cent to INR 266,500--302,200 per tonne. A day before, the...
LME slumps for the third day at US$3039/t; SHFE is closed till Wednesday for May Day
On 29 th April, LME aluminium cash bid price stood at US$3,038 per tonne, witnessing a 0.88 per cent or US$27 per tonne decline, while LME aluminium official settlement price halted at US$3,039, diving down by 0.86 per cent or US$26.50 per tonne. 3-month bid price stood at US$3,043 per tonne,...
Primary aluminium weekly recap: Steady power supply in Yunnan propels China Shenhuo to increase aluminium production; The European Aluminium Association and energy experts call for a bold EU energy agenda
On April 25, the benchmark aluminium price for SHFE declined by US$145 per tonne to US$3,239 per tonne, then falling another US$68 per tonne to US$3,171 per tonne on April 26. The price fell further on Wednesday, April 27, to US$3,168 per tonne, before rising by $5 per tonne the next day to...
Hindalco’s aluminium ingot price sees fourth consecutive cut by INR2750/t on April 30
Hindalco Industries Limited has further decreased its aluminium ingot and products prices, with effect from Saturday, April 30. This marks the fourth consecutive cut since April 21. As per the revised prices revealed, Hindalco has cut its aluminium ingot price by INR 2,750 per tonne or 1.02 per...
LME aluminium benchmark price closed the week at US$51/t lower; SHFE price slid US$100/t to US$3139/t
LME aluminium prices further shrank this week, with LME aluminium cash bid price and LME aluminium official settlement price starting at US$3,089 per tonne and US$3,090 per tonne on Monday, April 25, and ending at US$3,038 per tonne and US$3,039 per tonne on Friday, April 29. That was a decline of...
Vedanta cuts its aluminium ingot selling price by nearly 1% with effect from April 29
Vedanta Limited has further reduced its aluminium ingot and products prices, with effect from Friday, April 29, in line with back-to-back LME aluminium price drop. Vedanta has cut its aluminium ingot price by INR 2,500 per tonne or 0.9 per cent to INR 269,500-305,200 per tonne on April 29, while...
Hindalco trims its aluminium billets & wire rod prices by INR2500/t with effect from April 29
Hindalco Industries Limited has continued to reduce its aluminium products and ingot prices, with effect from April 29, albeit slower than the previous day. Hindalco has cut its aluminium billets price by INR 2,500 per tonne or 0.87 per cent to stand at INR 283,600 per tonne. On the last cut on...
LME aluminium price falls for the second day at US$3065.50/t; SHFE stoops down to US$3139/t
LME aluminium opened at US$3,107 per tonne on Thursday and closed at US$3,040 per tonne, down US$76 per tonne or 2.44 per cent. On 28 th April, LME aluminium cash bid price stood at US$3,065 per tonne, facing a 1.10 per cent or US$34 per tonne decline, while LME aluminium official settlement price...
China’s A00 aluminium ingot price slips by RMB40/t; Aluminium alloy (A356) price falls by RMB50/t
China’s A00 aluminium ingot price has slipped by RMB 40 per tonne on Friday, April 29, after witnessing a hike the previous day, found the SMM. The price for Friday, April 29 closed at RMB 20,810 per tonne, with average prices likely to range between RMB 20,790 per tonne and RMB 20,830 per tonne....
NALCO’s aluminium ingot price sees a sharp cut of INR10000/t in line with LME price slump
National Aluminium Company Limited has slashed its aluminium ingot and aluminium products prices by INR 10,000 per tonne or 3.5 per cent on April 28, in line with the continued decrease in LME aluminium benchmark price since April 22. With the latest cut, NALCO’s aluminium ingot price has come in...
China’s A00 aluminium ingot price hikes to RMB 20850/t after four consecutive declines; Aluminium alloy prices gain RMB100/t
A00 aluminium ingot price in China has climbed up by RMB 120 per tonne, following four consecutive days of decline until April 27, found the Shanghai Metals Market. Data shows the hike has brought the ingot price at RMB 20,850 per tonne, with average prices estimated to range between RMB 20,830 per...
LME aluminium price drops again at US$3100/t; SHFE grows to US$3173/t after six days of decline
LME aluminium opened at US$3,071.5 per tonne on Wednesday and closed at US$3,116 per tonne, an increase of US$36 per tonne or 1.17 per cent. On 27 th April, the LME aluminium cash bid price stood at US$3,099 per tonne, with a 0.10 per cent or US$3 per tonne decline. LME aluminium official...
LME aluminium price moving upwards at US$3102.50/t; SHFE falls for the sixth day in a row to US$3168/t
LME aluminium opened at US$3,087per tonne on Tuesday and closed at US$3,080 per tonne, down US$2 per tonne or 0.06 per cent. On 26 th April, the LME aluminium cash bid price stood at US$3,102 per tonne, increasing by 0.42 per cent or US$13 per tonne. LME aluminium official settlement price halted...
A00 aluminium ingot price in China slips by RMB10/t; Caustic soda price in Shandong drops by RMB30/t
On Wednesday, April 27, China’s A00 aluminium ingot price has closed at RMB 20,730 per tonne, after witnessing a decrease of RMB 10 per tonne. The average price for the same is expected to hover between RMB 20,710 per tonne and RMB 20,750 per tonne. For today the spot contract is likely to be...
Vedanta continues to reduce aluminium wire rod & billet prices by INR11250/t with effect from April 26
Vedanta Limited has continued to cut its aluminium products and aluminium ingot prices, with effect from Tuesday, April 26. The company has reduced its aluminium wire rod price significantly by INR 11,250 per tonne or 3.8 per cent to INR 279,500- 287,000 per tonne. The last cut on April 21 brought...
