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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NALCO further upgrades its aluminium ingot price by INR12900/t with effect from March 25
National Aluminium Company Limited has upgraded its aluminium ingot and aluminium products prices, in response to the uptrend of the LME aluminium benchmark price. With effect from Friday March 25, NALCO’s aluminium ingot price has come in at INR 317,450-320,950 per tonne, scaling up by INR 12,900...
Hindalco’s aluminium ingot price grows by INR9250/t following LME price surge on stringent production
Hindalco Industries’ aluminium ingot and aluminium products prices have continued witnessing hikes, in line with an incessant LME aluminium price surge, attributable to the anticipation of disrupted metal production due to natural gas price rise and supply scarcity. With effect from Friday, March...
LME aluminium price gallops further to US$3664/t on anticipating production disruption due to natural gas scarcity; SHFE slopes down to US$3619/t
LME aluminium opened at US$3,670per tonne on Thursday, March 24, and closed at US$3,570per tonne, down US$115 per tonne or 3.12 per cent. LME aluminium cash bid price stood at US$3,663 per tonne with a whooping rise of 2.95 per cent or US$105 per tonne and LME aluminium official settlement price...
Average alumina spot price in China inches up by RMB3/t to RMB 2973/t; A00 aluminium ingot price slips by RMB170/t
On Friday, March 25, the average alumina spot price has inched up by RMB 3 per tonne to score at RMB 2,973 per tonne. According to the Shanghai Metals Market, the price in Guizhou and Guangxi has climbed up by RMB 10 per tonne to peg at RMB 2,975 per tonne and RMB 2,970 per tonne. For the same day...
LME aluminium price rises to US$3,560/t as Russia’s new natural gas supply policy may impact metal production; SHFE escalates at US$3,653/t
LME aluminium opened at US$3,417 per tonne on Wednesday, March 23, and closed at US$3,685 per tonne, an increase of US$179 per tonne or 5.12 per cent. LME aluminium cash bid price stood at US$3,558 per tonne with a rise of 0.22 per cent or US$8 per tonne and LME aluminium official settlement price...
Chinese alumina price crawls up to RMB2970/t after four-day restraint; Market destocking lifts A00 aluminium ingot price by RMB240/t
The average alumina spot price in China has increased by RMB 7 per tonne on Thursday, March 24, after remaining restrained for the past four days at RMB 2,963 per tonne. According to the Shanghai Metals Market, the rise today has brought the domestic alumina spot price to RMB 2,970 per tonne. In...
Chalco’s net profit reaches a new high at RMB5.08 billion, buoyed by aluminium price rally
Owing to the increased alumina and aluminium prices and increased output, Aluminium Corp. of China or Chalco's net profit in 2021 was bolstered by 564.6 per cent Y-o-Y to a 14-year high. In the 12 months ending Dec. 31, 2021, the world's largest alumina producer had a net profit of RMB 5.08 billion...
Hindalco’s aluminium wire rod & billets prices further grow by 1% w.e.f. March 23
Hindalco Industries Limited has continued to expand its aluminium products and aluminium ingot prices, albeit lower than the previous day, with effect from Wednesday, March 23. The company has grown its aluminium wire rod price by INR 3,500 per tonne to INR 319,850 per tonne from INR 316,350 per...
LME records aluminium price hike to US$3,550.5/t as Australia’s export ban to Rusal underpins supply disruption; SHFE slips by US$11/t
LME aluminium opened at US$3,521 per tonne on Tuesday and closed at US$3,505 per tonne, a decrease of US$16.5 per tonne or 0.47 per cent. LME aluminium cash bid price rose to US$3,550 per tonne and LME aluminium official settlement price surged to US$3,550.50 per tonne, up by US$33 and US$32.50 per...
China’s A00 aluminium ingot price soars up by RMB 150/t; Aluminium alloy (A356) price hikes by RMB150/t
China’s increased cases of Coronavirus had caused the A00 aluminium ingot price to slip by RMB 220 per tonne on Tuesday, March 22. However, on Wednesday, March 23, the price has soared up by RMB 150 per tonne to close at RMB 22,920 per tonne, found the Shanghai Metals Market. The average prices are...
NALCO’s aluminium wire rod and billets prices rebound by INR23500/t as LME price rallies through the week
After about a week of the last price update, National Aluminium Company Limited (NALCO) has revised its aluminium ingot and aluminium products prices, in line with the global aluminium benchmark price. With effect from March 22, NALCO has expanded its aluminium wire rod price by INR 23,500 per...
LME aluminium price again exceeds US$3500/t by gaining US$137.5/t; SHFE price falls after four successive rises
LME aluminium opened at US$3,417 per tonne on Monday and closed at US$3,522 per tonne, an increase of US$134 per tonne or 3.96 per cent. On Monday, March 21, LME aluminium cash bid price and LME aluminium official settlement price opened the week at US$3,517 per tonne and US$3,518 per tonne, up by...
China’s A00 aluminium ingot price declines by RMB220/t as consumers feel ambivalent about purchase amid new corona cases
China’s domestic primary aluminium ingot price has slipped on Tuesday, March 22, as rising cases of coronavirus have clouded the growth outlook for top metal consumers. But on the other hand, jitters over supply disruption as Russia-Ukraine peace discussions failed to ease conflict have capped the...
Hindalco trims its aluminium wire rod and billets prices by INR3250/t w.e.f. March 18
Hindalco Industries Limited again reduced its aluminium products and aluminium ingot prices, with effect from March 18, following an intermittent rise on March 17. The company’s aluminium wire rod price was cut by INR 3,250 per tonne on March 18 from INR 299,600 per tonne to INR 296,350 per tonne....
China’s A00 aluminium ingot price surges by RMB470/t; Aluminium alloy (A356) price grows by RMB450/t
According to the Shanghai Metals Market, A00 aluminium ingot price has opened the week on Monday with a surge of RMB 470 per tonne to settle at RMB 22,990 per tonne. The average prices are expected to hover between RMB 22,970 per tonne and RMB 23,010 per tonne, with spot contract to be traded at a...
LME aluminium benchmark price recovers to US$3380.5/t; SHFE grows 3% toUS$3637/t
Three-month LME aluminium opened at US$3,380 per tonne last Friday and closed at US$3,388 per tonne, an increase of US$5 per tonne or 0.15 per cent. On Friday, March 18, LME aluminium cash bid price and LME aluminium official settlement price recovered by US$92 per tonne and US$92.50 per tonne to...
Downstream products weekly recap: Speira picks Wipro as technology partner; Gränges sustainability progress attained competent breakthrough in 2021
Compared to the last week, this week the downstream sector of the aluminium industry witnessed much low incidental happenings. From the market point of view, there had been repeated decline in price. From aluminium billet to Hindalco price, the prices recorded had witnessed a significant drop, the...
Primary aluminium weekly recap: China’s A00 aluminium ingot price uptrends on improved buying sentiment, German companies support sanctions against Russia
This week continued to witness a downtrend in the global aluminium benchmark price, so much so that it stood month-on-month lower for a day. The LME aluminium price started the week at US$3,399 per tonne, reflecting a sharp downfall of US$73 per tonne from US$3,472 per tonne on March 11. The price...
