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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A00 aluminium ingot price surges by RMB100/t as inflation attracts investors towards commodity
Following a hike in price since Wednesday, March 30, the A00 aluminium ingot price closed the week on Friday, April 1, with a surge of RMB 100 per tonne to peg at RMB 22,730 per tonne. The average price for the same is expected to hover between RMB 22,710 per tonne and RMB 22,750 per tonne, with...
LME aluminium price on decline recording US$3,503/t due to Russian retreat, SHFE rises to US$3,590/t
LME aluminium opened at US$$3,540 per tonne on Thursday, March 31, and closed at US$3,468 per tonne, down US$78.5 per tonne or 2.21 per cent. The pressure created on Russia by all the other European and Australian metal giants is finally reducing the aluminium price in the London metal market. For...
European Aluminium Industry: How the future unfurls
The last few months has been tumultuous and yet interesting for the European Aluminium industry. The shortage of aluminium in the European market has propelled the regional prices to spike and then navigated to a fluctuating mode, which in turn has created opportunities for commodity traders to...
“For 2022 we will see high aluminium prices throughout the year and even further on. This will increase investments in the aluminium sector and therefore the project pipeline will further grow”, Patrik Ernst - Director Aluminium Division at REEL International
AlCircle: What was the motive behind the screen that drove REEL International to acquire the Aluminium Emission Control business of GE Steam Power in Norway? Mr Patrik Ernst: Over the last years REEL realized that our clients would always go for bigger packages when executing either brownfield or...
Hindalco targets to spend US$7.2 billion for aluminium business expansion
Over the next 5 years, Kumar Mangalam Birla owned Hindalco Industries Ltd. is aiming to invest up to US$7.2 billion in expanding its aluminium industry following the whooping increase in the price of aluminium due to the global supply bottlenecks and strong demand expectations. Hindalco Industries...
Hindalco back-to-back trims its aluminium ingot price to INR303000/t as LME sheds off
Hindalco Industries Limited has reduced its aluminium ingot and aluminium products prices back-to-back on two consecutive days as LME aluminium benchmark price has been shedding off since March 29. With effect from Thursday, March 31, Hindalco’s aluminium ingot price has been slashed by INR 7,000...
LME aluminium declines by $75/t as supply concerns ease with Russia’s minimised military operations; SHFE grows to $3586/t
LME aluminium cash bid price and LME aluminium official settlement price continued to decrease for the second day in a row by US$75 per tonne or 2.09 per cent to stand at US$3,506 per tonne and US$3,508 per tonne, respectively. The downfall in LME aluminium prices followed the ease of supply...
China’s A00 aluminium ingot price contracts by RMB100/t owing to production resumption in some areas
On Thursday, March 31, the A00 aluminium ingot price has fallen again for the second consecutive day to score at RMB 22,630 per tonne, finds the Shanghai Metals Market. The price has gone down by RMB 100 per tonne as of Thursday, March 31. The resumption of domestic aluminium production in some...
NALCO’s aluminium ingot price shrinks to INR309250- 312750/t as LME price eases
National Aluminium Company Limited (NALCO) has slashed its aluminium ingot and aluminium products prices, with effect from March 30, following two consecutive significant hikes on March 22 and 25. NALCO has cut its aluminium ingot price by INR 8,200 per tonne on Wednesday to the range of INR...
LME aluminium price drops again to US$ 3583/t for Russian military immobilisation; SHFE falls at US$ 3569/t
LME aluminium opened at US$3,607 per tonne on Tuesday and closed at US$3,449 per tonne, down US$156 per tonne or 4.33 per cent. If compared with the records of the exact previous day, LME aluminium cash bid price stood at US$3,581 per tonne and LME aluminium official settlement price halted at...
A00 aluminium ingot price nosedives by RMB260/t; Australian FOB price shrinks to US$508/t
The A00 aluminium ingot price on Wednesday, March 30 has nosedived by RMB 260 per tonne, following a hike in price on Tuesday, March 29. According to SMM, the price has been recorded at RMB 22,730 per tonne as of today, with average price estimated to orbit between RMB 22,710 per tonne and RMB...
Hindalco’s aluminium wire rod and billets prices grow by INR2250/t following an intermittent cut
Hindalco Industries Limited has increased its aluminium ingot and aluminium products prices following an intermittent cut on Saturday, March 26. With effect from Tuesday, March 29, Hindalco has grown its aluminium wire rod price by INR 2,250 per tonne to INR 324,100 per tonne. Until then, with...
LME aluminium on rise again settling at US$3606/t; SHFE taking off at US$3616/t
LME aluminium opened at US$3,616.5 per tonne on Monday and closed at US$3,605 per tonne, down US$20 per tonne or 0.55 per cent. LME aluminium cash bid price stood at US$3,604 per tonne and LME aluminium official settlement price halted at US$3,606, with a rise of 0.61 per cent and 0.64 per cent...
China’s A00 aluminium ingot price rebounds to RMB22990/t on continued inventory fall; Alumina price grows further on closed import window
The ongoing fall in China’s primary aluminium inventories due to recovery of downstream demand, along with the slow resumption of new production capacities for the fresh outbreak of COVID19, has lifted the A00 aluminium ingot price by RMB 90 per tonne to stand at RMB 22,990 per tonne on Tuesday,...
LME suffers first fall after five days of steep rise to US$3583/t; SHFE falls by 0.55% to rest at US$3599/t
LME aluminium opened at US$3,575 per tonne last Friday and closed at US$3,625 per tonne, an increase of US$55 per tonne or 1.54 per cent. If compared with the records of the exact previous day, LME aluminium cash bid price stood at US$3,582 per tonne and LME aluminium official settlement price...
China’s average alumina spot price opens the week on Monday with a slight increase of RMB 4/t
The average alumina spot price has opened the week on Monday, March 28, with an increase of RMB 4 per tonne to close at RMB 2,977 per tonne, found the Shanghai Metals Market. For the same day in Shandong, the price has inched up by RMB 10 per tonne to total at RMB 2,960 per tonne. However, in other...
Primary aluminium weekly recap: US, UK end their 4 year-long aluminium and steel tariff dispute; India’s domestic coal supply to aluminium smelters decline further
The world's primary aluminium segment witnessed a lot of sporadic but evident changes this week. On the market forefront, the benchmark aluminium SHFE price had been trending downward this week, except for a few infrequent rises. The LME aluminium benchmark price on Monday, March 21 had moved up by...
LME aluminium price grows through the week to US$3583/t on possible production disruption due to natural gas price hike; SHFE slips to US$3619/t
Australia’s ban on its alumina and aluminium ore exports to Rusal and Russia’s price hike on natural gas causing possible disruption in aluminium production have lifted the LME prices almost throughout the week. On Monday, March 21, LME aluminium cash bid price and LME aluminium official settlement...
