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: A00 aluminium ingot price in China surged by RMB480/t; Hindalco and Vedanta raised ingot prices
Primary aluminium market has witnessed a rise in LME aluminium benchmark price this week during May 24-28. The Chinese domestic aluminium ingot price has also seen a surge of RMB 480 per tonne through the week. Besides, the market has encountered hikes in Vedanta’s and Hindalco’s aluminium ingot...
Weekly update: Aluminium ingot price in China ended the week higher; Alumina price performed higher
SMM aluminium ingot price started the week with a decrease of RMB 110 per tonne on Monday, 24 May 2021 to RMB 18,340 per tonne. The price increased on Tuesday and Wednesday to stand at RMB 18370 per tonne and RMB 18390 per tonne, up by RMB 30 per tonne and RMB 20 per tonne. The aluminium price...
Hindalco’s aluminium ingot price sees a rise of more than 1% to INR201000/t with effect from May 28
Hindalco Industries Limited has further raised its aluminium ingot and aluminium products prices for the second time in a row with effect from Friday, May 28. Hindalco’s aluminium ingot price has seen an increase of INR 3,500 per tonne or 1.77 per cent to come in at INR 201,000 per tonne. On May...
LME aluminium price grew this week by US$99.50/t to settle at US$2404.50/t; SHFE price closed higher at US$2954/t
Three-month LME aluminium advanced 0.44 per cent to settle at US$ 2,390 per tonne on Monday but fell 0.19 per cent on Tuesday to close at US$ 2,385.50 per tonne. On Wednesday, the price rose 1.17 per cent to US$ 2,413.50 per tonne and closed higher on Thursday at US$ 2,486.50 per tonne. LME...
Vedanta’s aluminium ingots price climbs by INR 3,250/t on May 28
Vedanta has continued to raise its aluminium products price by more than 1%. With effect from Friday, 28 May 2021, the prices of some aluminium ingots have inched up by INR 3,250 per tonne to stand at INR 200,500-213,500 per tonne from INR 197,250-210,250- per tonne on May 26. The company’s billets...
NALCO reduces its aluminium ingot price for the third time in a row to INR196,350-199,850/t
National Aluminium Company Limited (NALCO) has reduced its aluminium ingot and aluminium products prices for the third time with effect from Thursday, May 27. NALCO’s aluminium ingot price has come in at INR 196,350-199,850 per tonne after being reduced by INR 4,000 per tonne or 2 per cent from INR...
A00 aluminium ingot price soars by RMB450/t to close at RMB18820/t; Aluminium alloy (A356) price mounts to RMB19550/t
A00 aluminium ingot price in China has surged by RMB 450 per tonne to come in at RMB 18,820 per tonne on Friday, May 28, found the Shanghai Metals Market. The average prices are expected to range between RMB 18,800 per tonne and RMB 18,840 per tonne, with spot contract to be traded at a premium...
Three-month LME aluminium rose 3.02% to close at US$2,486.5/t; SHFE aluminium advanced 1.01%
Three-month LME aluminium rose 3.02% to close at US$2,486.5 per tonne on Thursday. SMM expects the contract to trade between US$2,460-2,500 per tonne today. As of Thursday, May 27, LME aluminium cash (bid) price stands at US$ 2388 per tonne, LME official settlement price stands at US$ 2388 per...
Press Metal Aluminium reports double net profit in 1Q2021 on record-high aluminium prices
Press Metal Aluminium Holdings Bhd reported that its net profit doubled in the first quarter of 2021, bolstered by record-high aluminium prices. The company expects the global economy to revive further to drive demand, keeping selling prices at elevated levels. In the first three months of the year...
LME aluminium price inched up 0.80% to close at US$2359.50/t; SHFE price grew to US$2878/t
Three-month LME aluminium rose 1.17 per cent to close at US$ 2,413.5 per tonne on Wednesday, May 26. It is expected that the contract will run upwards and trade between US$ 2,380-2,480 per tonne today. LME aluminium cash (bid) price and LME official settlement price extended growth by US$ 18.50 per...
Vedanta raises its aluminium ingot price by INR 2,500/t on May 26
Vedanta has hiked its aluminium products price by more than 1%. With effect from Wednesday, 26 May 2021, the prices of some aluminium ingots have risen by INR 2,500 per tonne, standing at INR 210,250-197,250 per tonne from INR 207,750-194,750 per tonne on May 25. The company’s billets price stands...
Hindalco’s aluminium ingot price grows INR2500/t after five consecutive cuts in last two weeks
Hindalco Industries Limited has increased its aluminium ingot and aluminium products prices with effect from May 26 after five consecutive cuts in last two weeks. Hindalco is now selling its aluminium ingot at INR 197,500 per tonne as the price has been raised by INR 2,500 per tonne or 1.28 per...
Three-month LME aluminium slightly declined to US$2,385.5/t; SHFE aluminium shed 0.24%
Three-month LME aluminium fell 0.19% to close at US$2,385.5 per tonne on Tuesday. SMM expects the contract to trade between US$2,350-2,410 per tonne today. As of Tuesday, May 25, LME aluminium cash (bid) price stands at US$ 2341 per tonne, LME official settlement price stands at US$ 2341 per tonne;...
A00 aluminium ingot price in China gains RMB20/t to settle at RMB18390/t amid muted input costs
According to the Shanghai Metals Market, A00 aluminium ingot price in China has continued to grow by RMB 20 per tonne to come in at RMB 18,390 per tonne on Wednesday, May 26. The average prices are expected to range between RMB 18,370 per tonne and RMB 18,410 per tonne, with spot contract to be...
Vedanta cuts its aluminium products prices by over 3%, aluminium billet price pegs at INR202750/t
Vedanta Limited has reduced its aluminium products and aluminium ingot prices for the second time in a row, with effect from Tuesday, May 25. The company has cut its aluminium billet price by INR 7,750 per tonne or 3.68 per cent to INR 202,750 per tonne. Last week on May 20, Vedanta’s aluminium...
Hindalco Industries’ aluminium products price plunges by INR 7,750/t on May 25
Hindalco Industries Limited has continued to decline its aluminium products price. With effect from Tuesday, 25 May 2021, aluminium billets price has dropped by INR 7,750 per tonne or 3.69% to stand at INR 202,100 per tonne, from INR 209,850 per tonne on May 20. The wire rods price stands at INR...
China’s aluminium price rises to stand at RMB 18370/t; expected to range at RMB 18350-18390/t
SMM aluminium ingot price registers a hike after four days of decline. The price stands at RMB 18370 per tonne on Tuesday, 25 May 2021, marking an increase of RMB 30 per tonne from Monday’s price of RMB 18340 per tonne. The price is expected to move within a range of RMB 18350-18390 per tonne. In...
NALCO extends aluminium ingot price cut by INR5200/t with effect from May 22
National Aluminium Company Limited (NALCO) extended its aluminium ingot and aluminium products price cut last week, albeit lower than the previous day, with effect from May 22. NALCO reduced its aluminium ingot price by INR 5,200 per tonne or 2.5 per cent to INR 200,350-203,850 per tonne on...
