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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Three-month LME aluminium closed higher at US$2,478/t; SHFE aluminium advanced 0.35%
Three-month LME aluminium closed 1.08% higher at US$2,478 per tonne in the overnight trading, with open interest down 4,367 lots to 713,000 lots. SMM expects the contract to trade between US$2,440-2,500 per tonne today. As of Thursday, June 10, LME aluminium cash (bid) price stands at US$ 2470 per...
A00 aluminium ingot price in China climbs to RMB18830/t; Aluminium alloy (A356) price closes at RMB300/t higher
A00 aluminium ingot price in China has jumped by RMB 320 per tonne, marking the third consecutive day of hike. According to the Shanghai Metals Market data, the surge on Friday, June 11, has brought the primary aluminium ingot price at RMB 18,830 per tonne. The average prices are expected to range...
Rising price of aluminium and other commodities steering renewable energy projects costlier: Industry experts, India
The striking rise in prices of the commodities such as aluminium and copper among others, which are heavily used in the renewable energy industry as raw materials are steering the projects to get costlier, as said by the Industry experts in India. The aluminium has surged 22%, while the copper...
Hindalco Industries raises its aluminium billets price by INR 2,000/t on June 10
Hindalco Industries Limited has hiked its aluminium products price by INR 2,000 per tonne. With effect from Thursday, 10 June 2021, aluminium billets price stands at INR 215,600 per tonne, up 0.94% from INR 213,600 per tonne on June 9. The wire rods and aluminium ingots prices have increased by INR...
NALCO’s aluminium wire rod and billets prices see a cut of more than 1% with effect from June 8
National Aluminium Company Limited (NALCO) has reduced its aluminium products and aluminium ingot prices with effect from Tuesday, June 8, a week after it significantly raised its aluminium products prices on June 1. NALCO’s aluminium wire rod price has witnessed a cut of INR 3,400 per tonne or...
Vedanta further hikes its aluminium ingot price by INR 2,000/t
Vedanta has further expanded its aluminium products price by nearly 1%. With effect from Thursday, 10 June 2021, the prices of some aluminium ingots have climbed by INR 2,000 per tonne to stand at INR 207,000-220,000 per tonne, from INR 205,000-218,000- per tonne on June 9. The billets price stands...
Aluminium price in China increases to RMB 18510/t; Al Fluoride price declines by RMB 100/t
SMM aluminium ingot price stood at RMB 18510 per tonne on Thursday, 10 June 2021, indicating a hike of RMB 120 per tonne from Wednesday’s price of RMB 18390 per tonne. It is expected to move within a range of RMB 18490-18530 per tonne. On Thursday, 10 June 2021, aluminium price in Foshan and Wuxi...
LME aluminium price gained US$20/t to settle at US$2459/t; SHFE price closed at US$24/t higher
Three-month LME aluminium increased 0.08 per cent in the overnight trading to settle at US$ 2,451.5 per tonne, and is likely to trade between US$ 2,400-2,500 per tonne today. On Wednesday, June 9, LME aluminium cash (bid) price and LME official settlement price increased for the fourth day in a row...
Hindalco Industries further grows its aluminium wire rod and billets prices by INR1750/t on June 9
Hindalco Industries Limited has further increased its aluminium products and aluminium ingot prices by INR 1,750 per tonne, with effect from Wednesday, June 9. The company’s aluminium wire rod price has thus come in at INR 217,600 per tonne as against INR 215,850 per tonne on June 5. Hindalco is...
Vedanta’s aluminium ingot price sees a rise of INR1500/t with effect from June 9
Vedanta Limited has expanded its aluminium ingot and aluminium products prices for the second time in a row since the last cut on June 4. With effect from Wednesday, June 9, Vedanta has increased its aluminium ingot price by INR 1,500 per tonne to INR 205,000-218,000 per tonne. The company is...
Bauxite (6.5≤Al/Si＜7.5) price in Guangxi rebounds to RMB280/t after a year; A00 aluminium ingot price closes RMB30/t higher
On June 9, 2021, Bauxite (6.5≤Al/Si＜7.5) price in Guangxi, China, has recorded a rise of RMB 15 per tonne after remaining restrained for over a year, found the Shanghai Metals Market. The price has rebounded to RMB 280 per tonne since its last plunge to RMB 265 per tonne on May 26, 2020. The...
Three-month aluminium rose 1.2% to close at US$2,449.5/t; SHFE aluminium declined 1.08%
Three-month aluminium inched up 1.2% to close at US$2,449.5 per tonne on Tuesday, 08 June 2021, with open interest losing 2,670 lots to 721,000 lots. SMM expects the contract to trade between US$2,400-2,500 per tonne today as US dollar rebounded slightly. As of Tuesday, June 8, LME aluminium cash...
Aluminium price in China falls by RMB 170/t; Aluminium alloy (ADC12) price drops to RMB 18600/t
SMM aluminium ingot price marked a decline after a hike yesterday. The price dropped by RMB 170 per tonne on Tuesday, 8 June 2021 to stand at RMB 18360 per tonne, from RMB 18530 per tonne on June 7. The price is expected to move within a range of RMB 18340-18380 per tonne today. In Foshan and Wuxi,...
LME aluminium price settled US$5/t higher at US$2417.50/t; SHFE price climbed to US$2897/t
Three-month LME aluminium edged down 1.41 per cent to close at US$ 2,420.5 per tonne last night, and is likely to trade between US$ 2,410-2,460 per tonne today as the lower US dollar supports commodity prices. On Monday, June 7, LME aluminium cash (bid) price and LME official settlement price...
Hindalco Industries reports INR 1,750/t hike in aluminium billets price on June 5
Hindalco Industries Limited has raised its aluminium products price after cutting it on Friday, 04 June. With effect from Saturday 05 June 2021, aluminium billets price stands at INR 211,850 per tonne, up INR 1,750 per tonne or 0.83% from INR 210,100 per tonne on June 4. The wire rods and aluminium...
Three-month LME aluminium up by 2.08% to settle at US$2,455/t; SHFE aluminium slipped 1.3%
Three-month LME aluminium went up 2.08% to settle at US$2,455 per tonne last Friday night, with open interest up 7,236 lots to 720,000 lots. SMM expects the contract to trade between US$2,400-2,470 per tonne today. As of Friday, June 4, LME aluminium cash (bid) price stands at US$ 2412.50 per...
Vedanta increases its aluminium wire rod and billet prices by INR1750/t with effect from June 5
Vedanta Limited increased its aluminium products and aluminium ingot prices on Saturday, June 5, the next day after it cut the prices by INR 5,000 per tonne. The company expanded its aluminium wire rod price by INR 1,750 per tonne or 0.84 per cent to INR 211,000=218,500 per tonne, with effect from...
Alumina price in China increases by RMB9/t after an intermittent restraint; Primary ingot price jumps above RMB18500/t
The average alumina spot price has continued to increase after an intermittent restraint on Friday, June 4. According to the Shanghai Metals Market, the price on June 7 has gained RMB 9 per tonne to come in at RMB 2,485 per tonne. In Shandong, alumina price has climbed by RMB 20 per tonne to RMB...
