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 nosedived by US$98/t to close at US$2305/t; SHFE grew to US$2858/t
Three-month LME aluminium advanced 0.44 per cent to settle at US$ 2,390 per tonne on Monday, and it is likely to fluctuate between US$ 2,250-2,350 per tonne today. LME aluminium cash (bid) price and LME official settlement price nosedived by US$ 98 per tonne on Monday, May 24, to settle at US$...
China’s aluminium price rally leads to a dip in secondary aluminium operating rates by 0.25 percentage point in April 2021
In April 2021, operating rates at China's secondary aluminium producers stood at 41.35 per cent, inching down by 0.25 percentage point month-on-month but up by 17.92 percentage points year-on-year. Operating rates at large enterprises increased slightly as furnaces resumed normal operation from...
Three-month LME aluminium closed higher at US$2,379.5/t on Friday; SHFE aluminium fell 1.76%
Three-month LME aluminium rose 0.32% to close at US$2,379.5 per tonne on Friday. SMM expects the contract to fluctuate between US$2,250-2,350 per tonne today. As of Friday, May 21, LME aluminium cash (bid) price stands at US$ 2403 per tonne, LME official settlement price stands at US$ 2403 per...
Alumina spot price in China grows for the second consecutive day to RMB2449/t; A00 aluminium ingot price sheds RMB110/t
The average alumina spot price in China has recorded a rise for the second day in a row, albeit lower than the previous day, by RMB 18 per tonne, found the Shanghai Metals Market. So, as of Monday, May 24, the price is standing at RMB 2,449 per tonne. In Shanxi, alumina price has increased by RMB...
Primary aluminium weekly recap: LME aluminium price inched down by $10.50/t to close at $2392/t; World primary aluminium production shrinks 3% M-o-M to 5.56MT in April
On 20 th May 2021, three-month LME aluminium fell 2.49% to close at US$ 2,554 per tonne. The world primary aluminium production stood at 5.560 million tonnes in April 2021, reflecting a month-on-month downfall of 3.20% from 5.744 million tonnes, as revealed by International Aluminium Institute. On...
Weekly alumina update: China’s alumina price gains RMB33/t; Alcoa receives $8.8 million grant for renewable energy use in alumina refining
The average alumina spot price in China recorded total growth of RMB 33 per tonne this week on Tuesday, May 18, and Friday, May 21, while on the other days remained muted, according to the Shanghai Metals Market data. Other major activities in the global alumina sector included Alcoa Corporation...
Vedanta reduces its aluminium wire rod & billet prices by over 2% with effect from May 20
Vedanta Limited has decreased its aluminium products and aluminium ingot prices on May 20, following a raise on a day ago. Vedanta is now selling its aluminium wire rod at INR 210,000-217,500 per tonne, which is INR 5,500 per tonne or 2.5 per cent less than INR 215,500-223,000 per tonne on May 19....
Alumina price in China climbs by RMB 24/t; Aluminium alloy (ADC12) price stands lower at RMB 19150/t
As updated by Shanghai Metals Market, average spot alumina price in China has increased by RMB 24 per tonne on Friday, 21 May 2021 after remaining flat for the two days in a row. The price has come in at RMB 2431 per tonne, from 2407 per tonne. Alumina price in Shandong has risen by RMB 30 per...
LME aluminium price inched down by $10.50/t to close at $2392/t; SHFE fell for the third day in a row to $2893/t
Three-month LME aluminium fell 2.49 per cent to close at US$ 2,554 per tonne on Thursday. It is expected to trade between US$ 2,400-2,480 per tonne today. The contract will keep fluctuating weakly following SHFE aluminium. LME aluminium cash (bid) price and LME official settlement price continued...
Copper might face serious competition from aluminium, over price rise issue: Wood Mackenzie
The trusted source of commercial intelligence for the world's natural resources sector, Wood Mackenzie’s analysis has indicated that a long-term rise in price for copper is likely to counter serious contention from aluminium. The American multinational investment bank and financial services, Bank...
Hindalco’s aluminium wire rod and billets prices experience further cut of INR3500/t on May 20
Hindalco Industries Limited has been reducing its aluminium products and aluminium ingot prices since last Wednesday, May 12, in tandem with the downfall of the LME aluminium benchmark price. The company has cut its aluminium wire rod price yet again with effect from May 20, bringing the price to...
Primary aluminium inventories in China extend decline to 1.02 MT as purchase increases on price plunge
Shanghai Metals Market found a week-on-week decline of 41,000 tonnes in primary aluminium ingot inventories to stand at 1.02 million tonnes as of Thursday, May 20. Stocks fell across eight major consumption areas in China except for Chongqing as the last two consecutive days of decrease in A00...
Vedanta increases aluminium ingot price by INR1500/t w.e.f. May 19 after two consecutive cuts last week
Vedanta Limited has increased its aluminium ingot and aluminium products prices by INR 1,500 per tonne with effect from Wednesday, May 19, following two consecutive cuts last week on May 13 & 15. Vedanta’s aluminium ingot price has come in at INR 208,000-221,000 per tonne compared to INR...
A00 aluminium ingot price in China plummets by RMB440/t amid muted input costs: SMM
A00 aluminium ingot price in China has recorded a sharp fall of RMB 440 per tonne on Thursday, May 20, to come in at RMB 19,110 per tonne, found the Shanghai Metals Market. The average prices are expected to range between RMB 19,090 per tonne and RMB 19,130 per tonne, with spot contract to be...
LME aluminium price plunged by US$65.50/t after three days of hike; SHFE price fell sharply by 3.31% to US$2950/t
Three-month LME aluminium fell 1.48 per cent to close at US$ 2,429.50 per tonne on Wednesday, May 19. It is expected that the contract will trade between US $2,350-2,450 per tonne today. LME aluminium cash (bid) price and LME official settlement price plunged by US$ 65.50 per tonne after the last...
NALCO’s aluminium wire rod and billets prices cut by INR8800/t in line with W-o-W decline in LME aluminium benchmark price
National Aluminium Company Limited (NALCO) has sharply reduced its aluminium products and aluminium ingot prices with effect from Wednesday, May 19, following a significant hike in prices on May 11. With the latest cut, NALCO’s aluminium wire rod price has come in at INR 209,050-213,400 per tonne,...
China’s aluminium price plunges by RMB 310/t; Aluminium alloy (ADC12) price declines to stand at RMB 19450/t
SMM aluminium ingot price registered a decline of RMB 310 per tonne on Wednesday, 19 May 2021. The price stood at RMB 19550 per tonne, from RMB 19860 per tonne on May 18. The price is expected to move within a range of RMB 19530-19570 per tonne today. In Foshan and Wuxi, the price dropped by RMB...
LME aluminium price settled higher for the third consecutive day at US$2468/t; SHFE declined 1.07% to US$3051/t
Three-month LME aluminium fell 1.22 per cent to close at US$ 2,466 per tonne on Tuesday, May 18. As the US dollar index continued to weaken in the near term, it is expected that LME aluminium will try to continue to repair the recent decline today. It is expected to trade between US$ 2,450-2,550...
