China continues destocking, coupled with recovering peak-season demand; aluminium prices are expected to consolidate at highs with an upward bias next week
1. Macro perspective The US-Iran conflict escalated sharply. On September 9, Iran's Revolutionary Guard struck multiple oil tankers and merchant vessels in the Strait of Hormuz, causing a significant drop in strait traffic. Brent crude broke through USD 100 per bbl, closing at USD 101.21, while WTI...
ADC12 consolidates on a strong note as costs rise and orders see marginal improvement
Aluminium scrap: This week, China's aluminium scrap market price centre edged up alongside primary aluminium. As of September 10, SMM A00 aluminium prices closed at RMB 24,560 per tonne, up RMB 210 per tonne from RMB 24,350 per tonne last Thursday. Domestic aluminium scrap prices followed with...
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LME aluminium price closed lower for the third day in a row at US$2427.50/t; SHFE declined to US$2867/t
Three-month LME aluminium decreased 4.41 per cent to end at US$ 2,352 per tonne on Thursday night, with open interest losing 1,771 lots to 697,000 lots, and is expected to trade between US$ 2,320-2,420 per tonne today. LME aluminium cash (bid) price and LME official settlement price decreased for...
Three-month LME aluminium climbs 0.98% to US$2,474/t; SHFE aluminium slipped 1.82%
Three-month LME aluminium closed 0.98% higher at US$2,474 per tonne in the overnight trading, with open interest decreasing 19,280 lots to 699,000 lots. SMM expects the contract to trade between US$2,450-2,500 per tonne. As of Wednesday June 16, LME aluminium cash (bid) price stands at US$ 2454.50...
A00 aluminium ingot price in China declines by RMB190/t on the news of primary aluminium release from state reserves
A00 aluminium ingot price in China has decreased by RMB 190 per tonne as the news released that country would release primary aluminium from state reserves to ease the metal price rally. According to the Shanghai Metals Market, China’s primary aluminium ingot price has come in at RMB 18,650 per...
Hindalco Industries reduces its aluminium products price by INR 3,500/t on June 16
Hindalco Industries Limited has cut its aluminium products price by INR 3,500 per tonne. With effect from Wednesday, 16 June 2021, aluminium billets and wire rods prices stand at INR 215,600 per tonne and INR 219,600 per tonne. This is down by INR 3,500 per tonne from June 12’s price of INR 219,100...
Vedanta slashes its aluminium ingot price by INR 3,500 on June 16
Vedanta has slashed its aluminium products price by more than 1% after marking a hike yesterday. With effect from Wednesday, 16 June 2021, the prices of some aluminium ingots have reduced by INR 3,500 per tonne to stand at INR 207,750-220,750 per tonne, from INR 211,250-224,250- per tonne on June...
China’s aluminium price declines to RMB 18840/t; Aluminium alloy (ADC12) price falls by RMB 50/t
SMM aluminium ingot price marked a decline after registering a hike for the fourth days in a row. The price dropped by RMB 130 per tonne to stand at RMB 18840 per tonne on Wednesday, 16 June 2021, from RMB 18970 per tonne on June 15. The price is expected to move within a range of RMB 18820-18860...
LME aluminium price slid 1.82% to settle at US$2458.50/t; SHFE price closed 1.04% lower
Three-month LME aluminium fell 1.55 per cent to end at US$ 2,450 per tonne in the overnight trading yesterday, with open interest increasing 8,499 lots to 718,000 lots, and is expected to trade between US$ 2,450-2,500 per tonne today. LME aluminium cash (bid) price and LME official settlement price...
Hindalco Industries reports INR 1,500/t hike in its aluminium products price on June 15
Hindalco Industries Limited has raised its aluminium products price for the third time in a row. With effect from Tuesday, 15 June 2021, aluminium billets price and wire rods have come in at INR 219,100 per tonne and INR 223,100 per tonne, an increase of INR 1,500 per tonne from June 12’s price of...
NALCO’s aluminium ingot price grows by over 2% to INR205650-209150/t with effect from June 11
National Aluminium Company Limited (NALCO) increased its aluminium ingot and aluminium products prices with effect from Friday, June 11, following a cut on June 8. NALCO raised its aluminium ingot price by INR 4,700 per tonne or 2.3 per cent to INR 205,650-209,150 per tonne. On June 8, NALCO’s...
Hindalco Industries’ aluminium billets price stands at INR 217,600/t
Hindalco Industries Limited has continued to increase its aluminium products price. With effect from Saturday, 12 June 2021, aluminium billets price stands at INR 217,600 per tonne. This marks an increase of up 0.93% or INR 2,000 per tonne from INR 215,600 per tonne on June 10. The wire rods and...
Vedanta’s aluminium ingot price sees a further rise of INR1750/t with effect from June 15
Vedanta Limited has further increased its aluminium ingot and aluminium products prices for the fifth time in a row, with effect from Tuesday, June 15. Vedanta’s aluminium ingot price has been raised by INR 1,750 per tonne or 0.80 per cent to INR 211,250-224,250 per tonne as of June 15. On...
Three-month LME aluminium closed higher at US$2,488.5/t on Monday; SHFE to trade between RMB18,500-19,000/t
Three-month LME aluminium rose 1.08% to settle at US$2,488.5 per tonne in the overnight trading yesterday, with open interest losing 4,958 lots to 710,000 lots. SMM expects the contract to trade between US$2,440-2,500 per tonne today. As of Monday June 14, LME aluminium cash (bid) price stands at...
Bauxite (6.5≤Al/Si＜7.5) price in Guizhou closes RMB10/t higher at RMB370/t; A00 Aluminium Ingot price builds-up RMB140/t
According to the Shanghai Metals Market data, bauxite (6.5≤Al/Si＜7.5) price in Guizhou has climbed by RMB 10 per tonne to come in at RMB 370 per tonne on Tuesday, June 15. The average prices are expected to range between RMB 340-400 per tonne Bauxite (4.5≤Al/Si＜5.5) price in Henan has grown by RMB...
China plans to release about 900,000 tonnes of primary aluminium from state reserves to ease price rally
According to a report last week, China is preparing to release 800,000-900,000 tonnes of primary aluminium from its state reserves in early July to ease the incessant hike of the metal price. The news came after consultancy CRU said in a note to clients. Shanghai primary aluminium price is...
LME aluminium price built-up US$20/t to reach US$2490/t; SHFE market is closed for Dragon Boat Festival
LME aluminium benchmark price grew 0.81 per cent on Friday, June 11. On the previous day, the price stood at US$ 2,470 per tonne, gaining 0.45 per cent from the previous day. On Friday, June 11, LME aluminium cash (bid) price and LME official settlement price increased for the sixth day in a row by...
Vedanta increases its aluminium wire rod price for the fourth time in a row by INR2500/t on June 12
Vedanta Limited increased its aluminium products and aluminium ingot prices for the fourth time in a row with effect from Saturday, June 12. Vedanta’s aluminium wire rod price came in at INR 217,000-224,500 per tonne, up by INR 2,500 per tonne or 1.16 per cent from INR 214,500-222,000 per tonne on...
Aluminium downstream weekly recap: Salzburg Aluminium expands in Canada and US, opens new sales office; Transatlantic metals, other trade dispute needs to end: European Union
The downstream aluminium sector witnessed another eventful week. The European leader for manufacturing high-quality aluminium components for the automotive sector, Salzburg Aluminium, reported its expansion in Canada and United States, opening a new office in Toronto and Charlotte. While the...
Primary Aluminium Weekly Recap: LME aluminium price rallied to US$2470/t; China’s primary aluminium output climbed 2.5% in May
This week during June 7-11 has been eventful for the primary aluminium market as well as for AlCircle as the latter could announce the first set of confirmed participants for the upcoming AlCircle Expo 2021. Coming to the market news, Chinese aluminium giant Chinalco announced its aim of bringing...
