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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NALCO’s aluminium ingot price mounts to INR214,350-217,850/t as LME aluminium benchmark price surges
National Aluminium Company Limited (NALCO) has sharply increased its aluminium ingot and aluminium products prices with effect from Tuesday, May 11. NALCO’s aluminium ingot price has witnessed a surge of INR 7,500 per tonne to range between INR 214,350-217,850 per tonne. More than a week ago, on...
A00 aluminium ingot price in China gains RMB160/t to settle at RMB19980/t; Aluminium alloys prices build-up by RMB100/t
A00 aluminium ingot price in China has recorded an increase of RMB 160 per tonne to stand at RMB 19,980 per tonne on Wednesday, May 12, following a plunge last day from RMB 20,030 per tonne to RMB 19,820 per tonne, according to the Shanghai Metals Market. The average prices are expected to range...
Three-month LME aluminium slightly up at US$2,533/t; SHFE aluminium weakened 0.72%
Three-month LME aluminium rose 0.14% to close at US$2,533 per tonne on Tuesday. SMM expects the contract to trade between US$2,530-2,580 per tonne today. As of Tuesday, May 11, LME aluminium cash (bid) price stands at US$ 2549.50 per tonne, LME official settlement price stands at US$ 2549.50 per...
Vedanta reports INR 2,750/t hike in its aluminium ingot price on May 11
Vedanta has raised its aluminium products price for the sixth time in a row. With effect from Tuesday, 11 May 2021, the prices of some aluminium ingots have come in at INR 216,750-229,750 per tonne, indicating a growth of 1.3% or INR 2,750 per tonne from INR 214,000-227,000 per tonne on May 8. The...
Alumina price rises across major China markets; Aluminium alloy (ADC12) price stands lower at RMB 19400/t
As updated by Shanghai Metals Market, average spot alumina price in China has increased for the second day in a row. The price has inched up by RMB 12 per tonne on Tuesday, 11 May 2021 to come in at RMB 2388 per tonne, from 2376 per tonne on May 10. Alumina price in Shandong has risen by RMB 5 per...
LME aluminium price continues to grow for the fourth consecutive day to US$2565/t; SHFE price declines to US$3087/t
Three-month LME aluminium fell 0.1 per cent to close at US$ 2,529.5 per tonne on Monday, May 10. It is expected to trade between US$ 2,500-2,580 per tonne today. LME aluminium cash (bid) price and LME official settlement price continued to increase for the fourth day in a row to stand at US$ 2,565...
Hindalco raises its aluminium wire rod and billets prices by INR2750/t on the second consecutive day
Hindalco Industries Limited increased its aluminium products and aluminium ingot prices for two consecutive days last week. Following a hike of INR 3,250 per tonne on May 7, Hindalco’s aluminium wire rod price witnessed a rise of INR 2,750 per tonne or 1.24 per cent on May 8 to stand at INR 225,350...
A00 aluminium ingot price in China soars above RMB20,000/t; Alumina price gains RMB25/t
A00 aluminium ingot price in China has continued to rise and exceeded RMB 20,000 per tonne level on Monday, May 10. According to the Shanghai Metals Market, the price has jumped by RMB 340 per tonne to reach a new high of RMB 20,030 per tonne, with average prices likely to range between RMB 20,010...
Three-month LME aluminium closed the week higher at US$2,532/t; Aluminium surged 2.93%
Three-month LME aluminium rose 0.88% to close at US$2,532 per tonne on Friday. SMM expects the contract to move between US$2,520-2,580 per tonne today. As of Friday, May 7, LME aluminium cash (bid) price stands at US$ 2518.50 per tonne, LME official settlement price stands at US$ 2518.50 per tonne;...
Aluminium shortage may lead to hard pricing decision, says canned beverage CEOs
The global deficiency of aluminium supply in 2020 has worsened the position of the soft drink producers and brewers, who hugely count on aluminium for packaging i.e. aluminium cans. Following Q1 2021, multiple CEOs have raised the impact of rising cost in production due to the insufficiency of...
Vedanta raises its aluminium ingot price by INR 2,750/t on May 8
Vedanta has raised its aluminium products price for the fifth time in a row. With effect from Saturday, 08 May 2021, the prices of some aluminium ingots have increased by 1.3% or INR 2,750 per tonne to stand at INR 214,000-227,000 per tonne from INR 211,250-224,250 per tonne on May 7. The company’s...
Vedanta’s aluminium ingot price grows for the fourth time in a row by 1.5% w.e.f. May 7
Vedanta Limited has expanded its aluminium ingot and aluminium products prices for the fourth time in a row, with effect from Friday, May 7. The last raise was a week ago, on April 30, by INR 2,250 per tonne. This week, Vedanta’s aluminium ingot price has witnessed an increase of INR 3,250 per...
Hindalco's aluminium billets and aluminium wire rod prices build-up INR3250/t on May 7
Hindalco Industries Limited has continued to increase its aluminium products and aluminium ingot prices with effect from May 7. Hindalco’s aluminium billets price this week has witnessed a hike of INR 3,250 per tonne or 1.51 per cent to INR 218,600 per tonne, in comparison with INR 215,350 per...
Prebaked anode price in Southwest China climbs by RMB 110/t; Aluminium price jumps to a record high
Prebaked anode price in Southwest China market has climbed by RMB 110 per tonne after remaining restrained at RMB 4282.5 per tonne since April 2. The price stands at RMB 4392.5 per tonne on Friday, 07 May 2021. It is likely to range at RMB 4245-4540 per tonne. Northwest China’s prebaked anode...
LME aluminium price rose 1.25% to US$2476.50/t; SHFE price soared above US$3000/t
Three-month LME aluminium increased 2.55 per cent to close at US$ 2,510 per tonne on Thursday, May 6. It is expected to trade between US$ 2,450-2,520 per tonne today. LME aluminium cash (bid) price and LME official settlement price surged on Thursday, May 6, by US$ 30.50 per tonne or 1.25 per cent...
Three-month LME aluminium climbed 0.76% to close at US$2,247.5/t; SHFE opened higher after the Labour Day holiday
Three-month LME aluminium rose 0.76% to close at US$2,247.5 per tonne on Wednesday. SMM expects the contract to trade between US$2,420-2,460 per tonne today. As of Wednesday, May 5, LME aluminium cash (bid) price stands at US$ 2446 per tonne, LME official settlement price stands at US$ 2446 per...
China’s A00 aluminium ingot price exceeds RMB19000/t amid improved input costs; Prekabed anode price jumps by RMB205/t
On Thursday, May 6, A00 aluminium ingot price in China has crossed RMB 19,000 per tonne after resuming the market from the Labour Day Holiday. According to Shanghai Metals Market data, the primary aluminium ingot price has gained over RMB 300 per tonne to come in at RMB 19,150 per tonne, marking...
NALCO’s aluminium ingot price grows for the fourth time in a row by INR1800/t with effect from May 1
National Aluminium Company Limited (NALCO) grew its aluminium ingot and aluminium products prices for the fourth time in a row with effect from Saturday, May 1, 2021. NALCO’s aluminium ingot price witnessed a hike of INR 1,800 per tonne or 0.88 per cent to INR 206,850-210,350 per tonne. Earlier on...
