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...
Grow with
AL Circle
LME aluminium price edged 0.43% lower to $2434.50/t post-holiday; SHFE market remained closed for Labour Day Holiday
LME aluminium benchmark price recorded a decline of 0.43 per cent on Tuesday, May 4, from US$ 2,434.50 per tonne on April 30. The market was closed on May 3 for Early May Bank Holiday. LME aluminium cash (bid) price and LME official settlement price decreased by US$ 10.50 per tonne to close at US$...
LME aluminium price rose 0.53% to close at US$2,445/t; SHFE market is closed for Labour Day Holiday
LME aluminium benchmark price edged 0.53 per cent higher on Friday, April 30, from US$ 2,432 per tonne on April 29. LME aluminium cash (bid) price and LME official settlement price continued to rise by US$ 13 per tonne to stand at US$ 2,445 per tonne on Friday, April 30. 3-months bid price and...
Vedanta’s aluminium ingot price grows by INR 2,250/t on April 30
Vedanta has reported a growth in its aluminium products by INR 2,250 per tonne. With effect from Friday, 30 April 2021, the prices of some aluminium ingots have increased by more than 1% to stand at INR 208,000-221,000 per tonne from INR 205,750-218,750 per tonne on April 23. The company’s billets...
Long-running rally of Chinese aluminium prices is turning into a disadvantage, nonferrous metal body warns
Aluminium producers in China have been reportedly generating the best profits in years due to the long-running rally of metal prices, driven by global economic recovery from the COVID-19 pandemic and rising demand. But amid this positive impact, the incessant surge in prices, on the other hand, is...
Three-month LME aluminium rose to US$2,413.5/t on Thursday; SHFE aluminium gained 2.33%
Three-month LME aluminium rose 0.56% to close at US$2,413.5 per tonne on Thursday. Aluminium stocks increased 56,350 tonnes and Klang inventory grew 61,150 tonnes, and the upward pressure appeared, SMM reported. The contract is likely to trade between US$2,400-2,430 per tonne today. As of Thursday...
Hindalco expands its aluminium ingot price for the third consecutive time by INR2250/t with effect from April 30
Hindalco Industries Limited has further expanded its aluminium ingot and aluminium products prices for the third time in a row. The last hike was a week ago, on April 23, by INR 2,750 per tonne. This week the prices have witnessed a hike of INR 2,250 per tonne with effect from Friday, April 30....
A00 aluminium ingot price in China reaches a new high of RMB18830/t; Aluminium fluoride price plunges by RMB550/t
A00 aluminium ingot price in China has reached a new high of RMB 18,830 per tonne on Friday, April 30, expanding further by RMB 100 per tonne after a surge of RMB 330 per tonne on the previous day, found the Shanghai Metals Market. The average prices are expected to range between RMB 18,810 per...
Qamco posts net profit of QR124 million for Q1 2021, a rise of over 1000%
On 28 th April 2021, Qatar Aluminium Manufacturing Company (Qamco) posted a net profit of QR124 million for the first quarter (Q1 2021). This is considered as a record increase ever in the history of organization for quarterly performance as it crossed over 1000% compared to QR11 million Y-o-Y....
Aluminium billet inventories in China decline 28,700 tonnes W-o-W on enthusiastic purchase even amid price hike
According to the Shanghai Metals Market, 6063 aluminium billet inventories in China have decreased by 28,700 tonnes week-on-week across the five major consumption areas as of Thursday, April 29. SMM data shows the billet stocks have totalled 134,000 tonnes today compared to 162,800 tonnes last...
AMAG announces increase in revenue to EUR 251.2 million on solid aluminium shipment during 1Q2021
AMAG Austria Metall AG announced that the first quarter of 2021 showed positive trends for the company, with revenue increased 1.95 per cent year-on-year to EUR 251.2 million. The company attributed the growth to a solid shipment volume of 98,500 tonnes and higher aluminium prices. However, about...
China’s aluminium price jumps by RMB 330/t; Aluminium alloy (ADC12) price rises to stand at RMB 18450/t
SMM aluminium ingot price registered a jump after a drop yesterday. The aluminium price stood at RMB 18730 per tonne on Thursday, 29 April 2021, an increase of RMB 330 per tonne from RMB 18400 per tonne on April 28. The price is expected to move within a range of RMB 18710-18750 per tonne today. In...
Chalco records five-year high net profit of RMB 966.7 million in 1Q2021 beating Russian rival’s aluminium output
Aluminum Corporation of China Limited, popularly known as Chalco, announced on Tuesday, April 27, that its net profit in Q1 2021 recorded a thirtyfold year-on-year surge and stood five-year high at RMB 966.7 million ($149 million), driven by aluminium price growth to decade peaks and production...
Three-month LME aluminium inches up 0.04% to touch US$2400/t mark; SHFE price surged to US$2886/t
Three-month LME aluminium inched up 0.04 per cent to settle at US$ 2,400 per tonne on Wednesday. Shrinking LME aluminium stocks and recovering overseas economy lent support to LME aluminium. It is expected to fluctuate between US$ 2,390-2,410 per tonne today. LME aluminium cash (bid) price and LME...
NALCO increases aluminium wire rod and billets prices for the third consecutive week by INR3800/t
National Aluminium Company Limited (NALCO) has expanded its aluminium products and aluminium ingot prices with effect from Tuesday, April 27. This marks the third consecutive week of NALCO’s aluminium price hike. With the latest raise, NALCO’s aluminium wire rod price has come in at INR...
Three-month LME aluminium settled lower at US$2,392.5/t; SHFE aluminium advanced 1.42%
Three-month LME aluminium settled 0.27% lower at US$2,392.5 per tonne on Tuesday. SMM expects the contract to trade between US$2,380-2,400 per tonne today. As of Tuesday April 27, LME aluminium cash (bid) price stands at US$ 2389 per tonne, LME official settlement price stands at US$ 2389 per...
Alumina spot price in China sheds RMB26/t after growing two days in a row; A00 aluminium ingot price closes lower at RMB18400/t
After growing for the past two consecutive days from RMB 2,340 per tonne to RMB 2,375 per tonne, the average alumina spot price in China has shed RMB 26 per tonne on Wednesday, April 28, to settle at RMB 2,349 per tonne, according to the Shanghai Metals Market. In Shanxi, the price has plunged by...
China’s alumina price grows by RMB 23/t; Aluminium alloy (ADC12) price stands at RMB 18150/t
As updated by Shanghai Metals Market, average spot alumina price in China has registered a hike of RMB 23 per tonne from Monday’s price of RMB 2352 per tonne. The price now stands at RMB 2375 per tonne as of Tuesday, 27 April 2021. Alumina prices in Shandong and Shanxi have climbed by RMB 55 per...
LME aluminium price climbed US$14.5/t to settle at US$2388/t; SHFE price grew to US$2854/t
Three-month LME aluminium climbed 1.48 per cent to settle at US$ 2,404 per tonne on Monday, and is expected to move between US$ 2,390-2,410 per tonne today. LME aluminium cash (bid) price and LME official settlement price gained US$ 14.50 per tonne to stand at US$ 2,388 per tonne on Monday, April...
