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 aluminium on rise again settling at US$3443.50/t, SHFE gains 2% closing at US$3481/t
LME aluminium opened at US$3,436 per tonne on Wednesday and closed at US$3,443.5 per tonne, an increase of US$12 per tonne or 0.35 per cent. LME aluminium cash bid price stood at US$3,443 per tonne and LME aluminium official settlement price halted at US$3,443.50, with a rise of 0.85 per cent and...
A00 aluminium ingot price further plummets by RMB450/t as COVID undermines domestic consumption; but input costs inflate
A00 aluminium ingot price in China has nosedived for the second day in a row by RMB 450 per tonne to stand at the edge of RMB 22,000 per tonne. According to the Shanghai Metals Market, the price has come in at RMB 22,030 per tonne, with average prices estimated to range between RMB 22,010 per tonne...
Hindalco’s aluminium wire rod & billets prices further dwindle by INR3000/t on April 6
Hindalco Industries Limited has continued to trim its aluminium products and aluminium ingot prices as the LME aluminium ingot price keeps pursuing a downtrend. With effect from April 6, Hindalco has reduced its aluminium wire rod price by INR 3,000 per tonne to INR 304,850 per tonne. On April 5,...
LME aluminium falls for six days straight halting at US$3,418/t, SHFE descends after Qingming Festival
LME aluminium opened at US$3,450 per tonne yesterday and closed at US$3,455 per tonne, an increase of US$40 per tonne or 1.17 per cent. On 5 th April, LME aluminium cash bid price stood at US$3,414 per tonne and LME aluminium official settlement price halted at US$3,415. The former recorded a fall...
China’s A00 aluminium ingot price slumps by RMB250/t; Average alumina spot price inches up by RMB2/t
According to the Shanghai Metals Market, the A00 aluminium ingot price has declined by RMB 250 per to stop at RMB 22,480 per tonne. The average price for the same is expected to range between RMB 22,460 per tonne and RMB 22,500 per tonne, with spot contract to be traded at a premium price of RMB...
Vedanta cuts its aluminium prices for the second time in a new fiscal year, bringing ingot price to INR297000-344500/t
Vedanta Limited reduced its aluminium ingot and aluminium products prices for the second time in a row in the new financial year 2022-23. With effect from April 5, the company cut its aluminium ingot selling price by INR 4,250 per tonne or 1.4 per cent to INR 297,000-344,500 per tonne. On April 2,...
Japanese aluminium shipments premium set at $172/t for Q2 2022, recording second consecutive quarterly drop
Three sources have confirmed that some Japanese aluminium buyers have agreed with at least two global producers on the premium payment of $172 per tonne for June shipments, compared to $177 million in the previous quarter. That reflects a quarter-on-quarter downfall of $5 per tonne or 2.8 per cent...
Hindalco’s aluminium billets & wire rod prices continue to shrink by 2% with effect from April 5
After about a week, Hindalco Industries Limited has further trimmed its aluminium products and aluminium ingot prices, with effect from April 5, 2022. Hindalco has reduced its aluminium billets price by INR 6,250 per tonne or 1.97 per cent to INR 310,850 per tonne. The previous price cut was on...
NALCO further chops its aluminium ingot price by INR 13000/t on the onset of new fiscal year 2023
As the fiscal year 2022 ends, National Aluminium Company Limited (NALCO) further chops its aluminium ingot and aluminium products prices, with effect from April 1 FY2023. The company’s aluminium ingot price has seen a sharp cut of INR 13,000 per tonne or 4.20 per cent to INR 296,250- 299,750 per...
LME aluminium price falls for five days in a row to US$3444/t; SHFE is closed for Qingming Festival, China
On Monday, 4 th of April, LME aluminium cash bid price stopped at US$3,443.50 per tonne and LME aluminium official settlement price was last recorded at US$3,444 per tonne, with a 1.12 per cent downfall, in comparison with the records of the previous week, both witnessed a decline of US$39 per...
Ball announces to scale down operations at 3 aluminium beverage can manufacturing plants in Russia
Ball Corporation, the US-based, one of the world’s leading aluminium beverage cans producing companies, has enlisted its name to the list of companies who are downsizing their businesses in Russia. Last week, Ball announced that it is reducing operations at three of its manufacturing plants in...
Campaign to reopen Alcoa Intalco Works smelter receives boost following hike in aluminium price
In April 2020, Alcoa announced the suspension of its Ferndale smelter in Washington, following diminishing demand and dropping metal prices. However, war-related sanctions on Russia that had caused aluminium spot price to reach a record high, has boosted the reopening campaign of the Alcoa Intalco...
China is boosting its aluminium exports to compensation the supply gaps in Western markets: Source
As observed by market experts, China is boosting its aluminium export volume to balance the supply gaps in Western markets. In February, China exported 26,378 tonnes of primary aluminium in February, the highest monthly since 2010, turning into a net exporter for the first time since November 2019....
LME price falls constantly for four days to stop at US$3,483/t; SHFE is closed for Qingming Festival
LME aluminium opened at US$3,540 per tonne on Thursday and closed at US$3,468 per tonne, down US$78.5 per tonne or 2.21 per cent. On Friday, LME aluminium cash bid price stood at US$3,482.50 per tonne and LME aluminium official settlement price halted at US$3,483 per tonne, with a fall of 0.56 per...
Downstream weekly recap: Hindalco targets to spend US$7.2 billion for aluminium business expansion; Alvance Aluminium Duffel switches to green, transports rolled products by barge
This week the global aluminium downstream segment witnessed some limited but sporadic changes, showing that the metal industry is eventually getting on track. Like, Hindalco industries planning to expand its aluminium industry following the record breaking surge in price of the metal over the next...
“Although higher aluminium prices may add to the financial bottom line in the short run, we must also remember that aluminium as a material competes with other materials, so artificially high prices over time will also have a potential downside”, Hilde Merete Aasheim, President & CEO at Norsk Hydro
Hilde Merete Aasheim is the President & CEO of Norsk Hydro. A Norwegian aluminium and renewable energy company, Norsk Hydro ASA is headquartered in Oslo. It is one of the largest aluminium companies worldwide, with operations across 50 countries. Starting from bauxite and alumina, Hydro produces...
Primary aluminium weekly recap: NALCO, Hindalco trim their ingots selling prices as LME price retreats; Alba & EGA to explore production enhancement opportunities
As Russia retreats its military activities in some areas of Ukraine, allowing the resumption of alumina refineries and aluminium smelters, the LME aluminium benchmark price begins downsizing throughout the week with the hope of supply chain recovery. Starting at US$3,606 per tonne on Monday, March...
“We also believe that aluminium is an important component for a growing and greener society and are fully committed to this industry for the long term”, Jean-Denis Carrier, Global Director for Aluminium & Alliances at Hatch
Mr Jean-Denis Carrier is passionate about the development and delivery of aluminium smelter projects and technologies for over 20 years. He currently is the Global Director for Aluminium & Alliances at Hatch where he leads one of the largest technical teams in the aluminium industry. Mr Carrier’s...
