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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Primary Aluminium Weekly Recap: China’s aluminium ingot price plunged by RMB 410/t; Century Aluminum increased its production capacity at Mt. Holly aluminium smelter
Primary aluminium sector witnessed expansions and announcement of production data. LME price ended higher this week, while SMM aluminium ingot price trended downward. Let's recapitulate some of the top aluminium news from primary aluminium sector. LME aluminium cash (bid) price and LME official...
Weekly update: Aluminium ingot price in China saw downward trend this week; Alumina price performed higher
SMM aluminium ingot price witnessed downward trend this week. The week started with a decrease of RMB 40 per tonne and RMB 70 per tonne on Monday, 31 May and Tuesday 01 June to RMB 18780 per tonne and RMB 18710 per tonne. The price on Thursday stood at RMB 18670 per tonne, down RMB 10 per tonne...
LME aluminium price slowed down this week to settle at US$2412.50/t; SHFE price closed lower at US$2854/t
LME aluminium cash (bid) price and LME official settlement price started this week on Tuesday, June 1, with a surge of US$ 57 per tonne to US$ 2,461.50 per tonne from US$ 2,404.50 per tonne on Friday, May 28. On Wednesday, June 3, the price decreased by US$ 19.50 per tonne to come in at US$ 2,442...
Hindalco Industries’ aluminium wire rods price drops by INR 4,000/t to INR 214,100/t on June 4
Hindalco Industries Limited has slashed its aluminium products price by INR 4,000 per tonne. With effect from Friday, 04 June 2021, aluminium billets price has reduced by 1.87% to stand at INR 210,100 per tonne from INR 214,100 per tonne on June 02. The wire rods and aluminium ingots prices stand...
Vedanta cuts its aluminium ingots price by INR 5,000/t
Vedanta has cut its aluminium products price by more than 2%. With effect from Friday, 4 June 2021, the prices of some aluminium ingots have declined by INR 5,000 per tonne to stand at INR 201,750-214,750 per tonne as against INR 206,750-219,750- per tonne on June 2. The company’s billets price...
China’s aluminium price plunges by RMB 410/t; Aluminium alloy (ADC12) price falls to RMB 18700/t
SMM aluminium ingot price plunged by RMB 410 per tonne on Friday, 4 June 2021. The price stood at RMB 18260 per tonne, from RMB 18670 per tonne on June 3. The price is expected to move within a range of RMB 18240-18280 per tonne today. In Foshan and Wuxi, the price dropped by RMB 370 per tonne and...
LME aluminium price extended downfall by 2.27%; SHFE price closed lower at US$2854/t
Three-month LME aluminium lost 1.23 per cent to settle at US$ 2,405 per tonne in the overnight trading, and is expected to trade between US$ 2,380-2,460 per tonne today. The strong US employment data and the concerns of currency policies boosted the US dollar and weighed on non-ferrous metals. Both...
NALCO’s aluminium ingot price sees a sharp rise of INR8000/t or 4% with effect from June 1
National Aluminium Company Limited (NALCO) has sharply increased its aluminium ingot and aluminium products prices with effect from Tuesday, June 1, after three cuts in a row since May 19. NALCO has raised its aluminium ingot price by INR 8,000 per tonne or 4 per cent to INR 204,350-207,850 per...
Three-month LME aluminium declined to stand at US$2,435/t; SHFE aluminium edged down 0.83%
Three-month LME aluminium lost 1.89% to settle at US$2,435 per tonne in the overnight trading. It is expected to trade between US$2,430-2,490 per tonne today. As of Wednesday, June 2, LME aluminium cash (bid) price stands at US$ 2442 per tonne, LME official settlement price stands at US$ 2442 per...
Alumina spot price in China further gains RMB4/t to settle at RMB2476/t; A00 aluminium ingot price drops by RMB10/t
The average alumina spot price in China has extended its growth by RMB 4 per tonne to come in at RMB 2,476 per tonne on Thursday, June 3, found the Shanghai Metals Market. In Guizhou and Guangxi, alumina price has increased by RMB 15 per tonne to peg at RMB 2,430 per tonne, while the price in Henan...
Hindalco Industries reports INR 6,000/t jump in its aluminium billets price
Hindalco Industries Limited has further expanded its aluminium products price. With effect from Wednesday, 02 June 2021, aluminium billets price has jumped by INR 6,000 per tonne or 2.88% to stand at INR 214,100 per tonne. The company had reported billets price of INR 208,100 per tonne on May 28....
China’s alumina price registers a hike of RMB 7/t; Aluminium price stands lower at RMB 18680/t
The alumina price in China has increased to stand at RMB 2472 per tonne on Wednesday, 02 June 2021, after remaining flat on Tuesday. The price records a growth of RMB 7 per tonne, as updated by Shanghai Metals Market. Alumina price in Shandong has risen by RMB 10 per tonne to stand at RMB 2470 per...
Vedanta’s aluminium ingot price soars by INR6250/t on June 2 in line with LME aluminium price rally
Vedanta Limited has significantly expanded its aluminium ingot and aluminium products prices for the third time in a row, with effect from Wednesday, June 2, 2021. Vedanta has raised its aluminium ingot price by INR 6,250 per tonne or 2.9 per cent to INR 206,750-219,750 per tonne on June 2. Last...
LME aluminium benchmark price edged 2.37% higher to US$2461.50/t; SHFE fell by US$11/t to close at US$2925/t
LME aluminium benchmark price gained 2.37 per cent on Tuesday to close at US$ 2,461.50 per tonne. The price is expected to move between US$ $2,450-2,520 per tonne. On Tuesday, June 1, LME aluminium cash (bid) price and LME official settlement price soared by US$ 57 per tonne to settle at US$...
Japan aluminium buyers to pay 24-25% higher premiums in Q3
The premium for aluminium shipments to Japanese buyers has been set at $185 per tonne for July-September. The premium is higher by 24-25 per cent from the current quarter, reported sources involved in market pricing. During April-June quarter, the premiums for aluminium shipments were $148-$149 per...
Prebaked anode price in China soars by RMB315/t after a month of restraint; A00 aluminium ingot price extends decline to RMB18710/t
According to the Shanghai Metals Market, prebaked anode price in East China has soared by RMB 315 per tonne on June 1, 2021, to stand at RMB 4,712.50 per tonne. This marks an increase after almost a month of restraint at RMB 4,397.50 per tonne. The average prices are expected to range between RMB...
China’s alumina price stands higher by RMB 3/t; Aluminium alloy (ADC12) price drops to RMB 19200/t
The alumina price in China has increased by RMB 3 per tonne on Monday, 31 May 2021, after remaining flat on Friday. The price is currently hovering at RMB 2465 per tonne, as updated by Shanghai Metals Market. Alumina price in Shandong has climbed by RMB 10 per tonne to stand at RMB 2460 per tonne....
Three-month LME aluminium ended the week higher at US$2,506/t; SHFE aluminium added 1.47%
Three-month LME aluminium went up 0.78% to close at US$2,506 per tonne last Friday. SMM expects the contract to trade between US$2,480-2,540 per tonne today. As of Friday, May 28, LME aluminium cash (bid) price stands at US$ 2404.50 per tonne, LME official settlement price stands at US$ 2404.50 per...
