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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China alumina spot price grows to RMB2352/t after more than a week-long restraint; A00 aluminium ingot price jumps by RMB140/t
After remaining restrained for the past ten days, the average alumina spot price in China has recorded an increase of RMB 12 per tonne to stand at RMB 2,352 per tonne on Monday, April 26, found the Shanghai Metals Market. In Shanxi, alumina price has grown by RMB 15 per tonne to RMB 2,360 per...
Three-month LME aluminium up by 0.45% to US$2,369/t on Friday; SHFE aluminium edged higher by 0.99%
Three-month LME aluminium settled 0.45% higher at US$2,369 per tonne last Friday. The increase in price was due to lower LME aluminium stocks, improved overseas economic and weak US dollar. SMM expects the contract to move between US$2,350-2,390 per tonne today. As of Friday, April 23, LME...
Insane market, industry fighting over aluminium and metals: Alumeco
The Danish aluminium and metal supplier Alumeco, providing aluminium solutions for the metal-consuming industries are experiencing a fierce battle for raw materials, which has also risen in prices. The COVID-19 pandemic has disrupted the balance of demand and supply. Since May’20, the price of...
“Heading towards a catastrophic situation”, says Director of aluminium-based materials producer in Aube
Larbaletier Group, the manufacturers of aluminum-based materials in Aube, North-east of France, stated the economic recovery is on the way, while the surge in the price of raw materials is the new problem which is alarming and the outcome could be dreadful to the sector and the organization....
Vedanta raises its aluminium wire rod and billets prices by INR3750/t on April 23
Vedanta Limited has raised its aluminium products and aluminium ingot prices by INR 3,750 per tonne with effect from Friday, April 23. Hence, the company is now selling its aluminium wire rod price at INR 213,250-220,750 per tonne compared to INR 209,500-217,000 per tonne on April 20. Vedanta’s...
Hindalco further grows its aluminium ingot price by INR2750/t with effect from April 23
Hindalco Industries Limited has further increased its aluminium ingot and aluminium products prices this week with effect from Friday, April 23. With the latest hike, Hindalco’s aluminium ingot price has come in at INR 206,000 per tonne, up by INR 2,750 per tonne or 1.35 per cent from INR 203,250...
China’s aluminium ingot price inches up by RMB 30/t; Australian alumina FOB price stands at USD 275/t
SMM aluminium ingot price has edged higher by RMB 30 per tonne to stand at RMB 18210 per tonne on Friday, 23 April 2021, from its previous price of RMB 18180 per tonne on April 22. This marks the second consecutive hike in aluminium price. The price is expected to range at RMB 18190-18230 per...
LME aluminium price closed US$29/t higher at US$2373.50/t; SHFE price shed US$6/t to US$2801/t
Three-month LME aluminium settled 0.3 per cent lower at US$ 2,358.50 per tonne on Thursday, April 22, and is expected to move between US$ 2,340-2,390 per tonne today. LME aluminium cash (bid) price and LME official settlement price increased by US$ 29 per tonne to stand at US$ 2,373.50 per tonne on...
America’s trade associations applaud Representatives Lawson and Buck for reintroduction of Aluminum Pricing Examination (APEX) Act
Beer Institute, American Beverage, National Marine Manufacturers and Flexible Packaging Association have praised Representatives Al Lawson (FL-05) and Ken Buck (CO-04) for the reintroduction of the Aluminum Pricing Examination (APEX) Act. The APEX Act will bring transparency in aluminium pricing...
Aluminium billet inventories in China decline slower this week to 162,800 tonnes: SMM
Aluminium billet inventories in China have decreased relatively slower this week on April 22 by 2,500 tonnes or 1.5 per cent from the previous week, found the Shanghai Metals Market. Data shows the inventories across the five major Chinese consumption areas have come in at 162,800 tonnes. Last week...
Three-month LME aluminium climbed 2.25% to settle at US$ 2,365.5/t; SHFE aluminium lost 0.69%
Three-month LME aluminium hit a new high of US$2,369 per tonne since May 2018 earlier in the session and then climbed 2.25% to settle at US$ 2,365.5 per tonne on Wednesday. SMM expects the contract to move between US$2,340-2,370 per tonne today. As of Wednesday, April 21, LME aluminium cash (bid)...
A00 aluminium ingot price gains RMB140/t to settle at RMB18,180/t; Aluminium alloy(A356) price grows by RMB100/t
After showing restraint and declining in the past two days, A00 aluminium ingot price in China has recorded an increase of RMB 140 per tonne to RMB 18,180 per tonne, as of Thursday, April 22, according to the Shanghai Metals Market. The average prices are expected to range between RMB 18,160 per...
China’s aluminium ingot price drops by RMB 80/t; Aluminium alloy (ADC12) price declines to stand at RMB 18050/t
SMM aluminium ingot price registered a drop after remaining unchanged yesterday. The aluminium price reduced by RMB 80 per tonne from RMB 18120 per tonne. The price came in at RMB 18040 per tonne as of Wednesday, 21 April 2021 and is expected to move within a range of RMB 18020-18060 per tonne. In...
LME aluminium price slid by US$7/t to clock at US$2324/t; SHFE price closed lower at US$2772/t
Three-month LME aluminium settled 0.71 per cent lower at US$ 2,313.50 per tonne on Tuesday, April 20. Today, the price is expected to move between US$ 2,300-2,330 per tonne. LME aluminium cash (bid) price and LME official settlement price stood at US$ 2,324 per tonne on April 20, reflecting a...
Vedanta’s aluminium wire rod and billets prices see a raise of INR2500/t on April 20
Vedanta Limited has raised its aluminium products prices by INR 2,500 per tonne with effect from Tuesday, April 20. The company’s aluminium wire rod price has come in at INR 209,500-217,000 per tonne compared to INR 207,000-214,500 per tonne on April 17, while the price of Vedanta’s aluminium...
Hindalco Industries grows its aluminium ingot price by 2% with effect from April 20
Hindalco Industries Limited has again significantly increased its aluminium ingot and aluminium products prices with effect from Tuesday, March 20, following a slash on last Saturday, April 17. With the latest hike, Hindalco’s aluminium ingot price has come in at INR 203,250 per tonne, up by INR...
China’s A00 aluminium ingot price shows restraint at RMB18120/t amid muted input costs: SMM
Primary aluminium ingot price in China has shown restraint on Tuesday, April 20, amid muted input costs. According to the Shanghai Metals Market data, A00 aluminium ingot price is resting at RMB 18,120 per tonne, with average prices to continue to range between RMB 18,100 per tonne and RMB 18,140...
Three-month LME aluminium shed to close at US$2,330/t; SHFE aluminium gained 0.05%
Three-month LME aluminium shed 0.39% to settle at US$2,330 per tonne on Monday. SMM expects the contract to move between US$2,300-2,350 per tonne today. As of Monday, April 19, LME aluminium cash (bid) price stands at US$ 2331per tonne, LME official settlement price stands at US$ 2331per tonne;...
