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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Hindalco Industries’ wire rods price declines to stand at INR 217,350/t
Hindalco Industries Limited has slashed its aluminium products price by around 1.39%. With effect from Saturday, 15 May 2021, aluminium billets price has dropped by INR 3,000 per tonne from INR 216,350 per tonne on May 13 to stand at INR 213,350 per tonne. The company’s wire rods price stands at...
China’s unwrought aluminium and aluminium products imports grow record high at 281,139 tonnes in April 2021
In April 2021, China’s unwrought aluminium and aluminium products imports rose 36.1 per cent month-on-month and 165.2 per cent on-year to come in at 281,139 tonnes. In March, the imports stood at 206,556 tonnes. China, the world’s leading aluminium producer, brought in a record amount of aluminium...
Alumina spot price in China gains RMB9/t to settle above RMB2400/t; A00 aluminium ingot price stands at RMB19860/t
The average alumina spot price in China has inched up by RMB 9 per tonne to settle at RMB 2,407 per tonne as of Tuesday, May 18, according to the Shanghai Metals Market. In Henan, the price has increased by RMB 15 per tonne to come in at RMB 2,410 per tonne, while the price in Shandong and Guizhou...
Three-month LME aluminium fell to US$2,496/t; SHFE aluminium gained 1.39%
Three-month LME aluminium fell 0.2% to close at US$2,496 per tonne on Monday. SMM expects the contract to trade between US$2,450-2,550 per tonne today. As of Monday, May 17, LME aluminium cash (bid) price stands at US$ 2455 per tonne, LME official settlement price stands at US$ 2455 per tonne;...
China’s aluminium ingot price grows by RMB 40/t; expected to range at RMB 19680-19720/t
SMM aluminium ingot price registers a hike after declining for the two days in a row. The price stands at RMB 19700 per tonne on Monday, 17 May 2021, indicating a growth of RMB 40 per tonne from Friday’s price of RMB 19660 per tonne. The price is expected to move within a range of RMB 19680-19720...
Three-month LME aluminium closed the week lower at US$2,446.5/t; SHFE aluminium fell 2.03%
Three-month LME aluminium weakened 0.31% to end at US$2,446.5 per tonne last Friday, with open interest adding 11,000 lots to 738,000 lots. SMM expects the contract to fluctuate between US$2,450-2,500 per tonne today. As of Friday, May 14, LME aluminium cash (bid) price stands at US$ 2438 per...
Vedanta cuts its aluminium ingot price by INR 3,000/t on May 15
Vedanta has reduced its aluminium products price by INR 3,000 per tonne. With effect from Saturday, 15 May 2021, the prices of some aluminium ingots have declined by more than 1% to stand at INR 206,500-219,500 per tonne from INR 209,500-222,500 per tonne on May 13. The company’s billets price...
New Bulgari Aluminium Steve Aoki Special Edition Wristwatch launched
The Bulgari Aluminium Steve Aoki Special Edition has reportedly joined the recently relaunched Aluminium family of timepieces, the first generation of which was introduced in the late ’90s. The design of the watches was then influenced by the livery of Alitalia jumbo jets, matched an aluminium case...
Weekly update: Aluminium ingot price in China ended the week lower; Alumina price performed higher
SMM aluminium ingot price started the week with an increase of RMB 340 per tonne on Monday, 10 May 2021 to RMB 20030 per tonne. The price on Wednesday increased to stand at RMB 19980 per tonne from Tuesday’s price of RMB 19820 per tonne. The aluminium price closed the week lower at RMB 19660 per...
Weekly Update: LME aluminium price trended down this week to US$2438/t; SHFE price closed lower at US$3044/t
Three-month LME aluminium fell 0.1 per cent to close at US$ 2,529.5 per tonne on Monday, May 10. However, on Tuesday, it rose 0.14 per cent to close at US$ 2,533 per tonne. On Wednesday, May 12, again fell by 1.46 per cent to US$ 2,496 per tonne and further by 1.68 per cent to close at US$ 2,554...
Hindalco extends aluminium ingot price cut by 3% w.e.f. May 13 on continued decrease in LME aluminium benchmark price
Hindalco Industries Limited has extended its aluminium ingot and aluminium product price cut for the second day in a row, with effect from Thursday, May 12. Aluminium ingot price has witnessed a reduction of INR 6,250 per tonne to INR 209,250 per tonne. On the previous day, May 12, the company’s...
A00 aluminium ingot price declines for the second consecutive day to RMB19660/t; Aluminium alloy(A356) price shrinks by RMB200/t
A00 aluminium ingot price in China has decreased for the second day in a row by RMB 160 per tonne to close the week on Friday, May 14, at RMB 19,660 per tonne, according to the Shanghai Metals Market. The average prices are expected to range between RMB 19,640 per tonne and RMB 19,680 per tonne,...
LME aluminium price extended downfall by US$51.50/t to US$2422.50/t; SHFE price shrank to US$3044/t
Three-month LME aluminium fell 1.68 per cent to close at US$ 2,554 per tonne on Thursday. It is expected to trade between US$ 2,400-2,480 per tonne today. LME aluminium cash (bid) price and LME official settlement price continued to decline for the third day in a row by US$ 51.50 per tonne to come...
Hindalco’s aluminium ingot price sees a decline of INR1500/t with effect from May 12
Hindalco’s aluminium ingot and aluminium products prices witnessed a decline on Wednesday, May 12, following a rise on the previous day. The company reduced its aluminium ingot price by INR 1,500 per tonne to INR 215,500 per tonne with effect from May 12. On May 11, the price stood at INR 217,000...
Vedanta sharply cuts its aluminium wire rod and billet prices by INR7250/t as LME aluminium benchmark price shrinks
Vedanta Limited, a subsidiary of Vedanta Resources Limited, has sharply cut its aluminium products and aluminium ingot prices with effect from Thursday, May 13. Vedanta's aluminium wire rod price has come in at INR 217,000-224,500 per tonne, down by INR 7,250 per tonne from INR 224,250-231,750 per...
China’s alumina price up by RMB 10/t; Aluminium price stands at RMB 19820/t
As updated by Shanghai Metals Market, average spot alumina price in China has increased by RMB 10 per tonne on Thursday, 13 May 2021 after remaining flat on May 12. The price has come in at RMB 2398 per tonne today, from Tuesday’s price of 2388 per tonne. The prices of alumina in Henan, Shanxi,...
LME aluminium price shrinks 3% to close at US$2474/t; SHFE price declines by US$21/t to US$3068/t
Three-month LME aluminium fell 1.46 per cent to close at US$ 2,496 per tonne on Wednesday, May 12. It is expected that the contract will trade between US$ 2,450-2,520 per tonne today. LME aluminium cash (bid) price and LME official settlement price decreased for the second day in a row to stand at...
Hindalco Industries’ aluminium billets price up by 1.24% to INR 224,100 /t
Hindalco Industries Limited has raised its aluminium products price by more than 1%. With effect from Tuesday, 11 May 2021, aluminium billets price stands at INR 224,100 per tonne, representing a growth of 1.24% or INR 2,750 per tonne from INR 221,350 per tonne on May 8. Aluminium ingot and wire...
