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 showed restraint at US$2212.50/t; SHFE price gained US$41/t to US$2667/t
Three-month LME aluminium settled 0.79 per cent higher at US$ 2,230 per tonne on Thursday, with open interest decreasing 7,546 lots to 712,000 lots. It is expected to move between US$ 2,220-2,250 per tonne today. As of Thursday, April 1, both LME aluminium cash (bid) price and LME official...
Vedanta cuts aluminium wire rod and billet prices by INR1500/t with effect from March 31
Vedanta Limited has reduced its aluminium products and aluminium ingot prices with effect from March 31, following a raise on March 27. Vedanta’s aluminium wire rod price has come in at INR 194,000-201,500 per tonne, down by INR 1,500 per tonne or 0.77 per cent from INR 195,500-203,000 tonnes on...
Prebaked anode price in China grows by RMB290/t after a month-long restraint; A00 aluminium ingot price climbs to RMB17260/t
After a month-long restraint at RMB 3902.50 per tonne, prebaked anode price in east China has surged by RMB 290 per tonne on April 1, 2021, to clock at RMB 4,192.50 per tonne. The average prices are expected to range between RMB 3,885 per tonne and RMB 4,500 per tonne. In central China, prebaked...
Three-month LME aluminium declined to close at US$2,212.5/t; SHFE aluminium shed1.32%
Three-month LME aluminium dropped 0.67% to settle at US$2,212.5 per tonne on Wednesday, 31 March 2021. SMM expects the contract to move between US$2,210-2,250 per tonne today. As of Wednesday, March 31, LME aluminium cash (bid) price stands at US$ 2212.50 per tonne, LME official settlement price...
Japan’s Q2 2021 aluminium premiums stand 6-years high at $148-$149/t
According to a recent report, the Q2 2021 premiums for aluminium shipments to Japanese buyers are set at $148-$149 per tonne, which reflect a hike of 14-15 per cent from the March quarter. In Q1 ending on March 31, 2021, the premiums were agreed at $139-$140, an increase of 57-59 per cent from the...
Hindalco reduces aluminium products prices by INR1500/t on March 31 in line with lower LME aluminium price
Hindalco Industries Limited has reduced its aluminium products and aluminium ingot prices with effect from Wednesday, March 31, following two consecutive hikes on March 25 and March 27. Hindalco’s aluminium wire rod price has come in at INR 199,350 per tonne, down by INR 1,500 per tonne or 0.75 per...
Aluminium price in China reduces by RMB 180/t; Aluminium alloy (ADC12) stands at RMB 17900/t
SMM aluminium ingot price dropped for the second time in a row. The aluminium price reduced by RMB 180 per tonne from Tuesday’s price of RMB 17340 per tonne. As on Wednesday, 31 March 2021, the price came in at RMB 17160 per tonne and is expected to move within a range of RMB 17140-17180 per tonne....
LME aluminium price extends downfall by US$35/t to US$2220.50/t; SHFE price decreases to US$2616/t
Three-month LME aluminium fell 2.02 per cent to close at US$ 2227.50 per tonne on Tuesday. It is expected to trade between US$ 2220-2280 per tonne today. As of Tuesday, March 30, LME aluminium cash (bid) price and LME official settlement price extended decline by US$ 35 per tonne to stand at US$...
Vedanta raises its aluminium ingot price by INR 2,500/t
Vedanta has raised its aluminium products price by more than 1% today. With effect from Saturday, 27 March 2021, the prices of some aluminium ingots came in at INR 188,000-201,000 per tonne, an increase of 1.29% or INR 2,500 per tonne from INR 185,500-198,500 per tonne on March 25. Billets price...
Three-month LME aluminium remained unchanged to close at US$2,273.5/t; SHFE aluminium slightly up
Three-month LME aluminium remained unchanged to close at US$2,273.5 per tonne on Monday. SMM expects the contract to trade between US$2,240-2,280 per tonne today. As of Monday, March 29, LME aluminium cash (bid) price stands at US$ 2255.50 per tonne, LME official settlement price stands at US$...
A00 aluminium ingot price declines to RMB17340/t after three days of hike; Aluminium fluoride price plunges by RMB150/t
A00 aluminium ingot price in China has decreased by RMB 50 per tonne to stand at RMB 17,340 per tonne on Tuesday, March 30, following the three consecutive days of hike from RMB 17,080 per tonne to RMB 17,390 per tonne, according to Shanghai Metals Market. The average prices are expected to range...
Hindalco further increases its aluminium wire rod and billets price by INR2500/t with effect from March 27
Hindalco Industries Limited further raised its aluminium products and aluminium ingot prices with effect from Saturday, March 27. The company’s aluminium wire rod price came in at INR 200,850 per tonne as of March 27, up by INR 2,500 per tonne from INR 198,350 per tonne on March 25. Hindalco’s...
A00 aluminium ingot price grows by RMB60/t to settle at RMB17390/t; Australian alumina (FOB) price drops by US$15/t
A00 aluminium ingot price opened the week higher by RMB 60 per tonne to RMB 17,390 per tonne as of Monday, March 29, found the Shanghai Metals Market. This marks the second consecutive day of rise from RMB 17,330 per tonne on Friday, March 26. The average prices are expected to range between RMB...
LME aluminium price settled US$52.50 higher at US$2260.50/t; SHFE price rose for the third consecutive day to US$2666/t
Three-month LME aluminium gained 0.78 per cent to settle at US$ 2,273.50 per tonne last Friday, and is expected to move between US$ 2,240-2,270 per tonne today. On Friday, March 26, LME aluminium cash (bid) price and LME official settlement price soared by US$ 52.50 per tonne to close the week at...
Aluminium supplies in Europe disrupt with Suez Canal maritime traffic jam
The large container vessel maritime traffic jam on the Suez Canal in Egypt has intensified the shortage of primary aluminium billet supplies in Europe, which resulted in higher premiums on 26 th March 2021. Suez Canal, an artificial sea-level waterway in Egypt, connecting the Mediterranean Sea to...
NALCO expands its aluminium ingot price for the second week in a row by above INR5000/t
National Aluminium Company Limited (NALCO) has expanded its aluminium ingot and aluminium products prices for the second week in a row, with effect from Saturday, March 27. A week ago, with effect from March 20, NALCO increased its aluminium prices by INR 1,500 per tonne, but this week the prices...
US primary aluminium production rose 1,000 tonnes M-o-M in January 2021; Average daily output remains flat
The first month of 2021 (January) saw a month-on-month rise in the United States primary aluminium production, although marginal, found the latest data of the US Geological Survey. From 77,000 tonnes in December 2020, the US domestic primary aluminium output rose 1,000 tonnes to stand at 78,000...
China plans to sell aluminium from its state reserves to curb price hike: Source
China is reportedly mulling to sell nearly 500,000 tonnes of aluminium from state reserves, in an attempt to calm the market and meet the Asian nation’s carbon emissions objectives, according to a person familiar with the plan. Selling off some of the highly carbon-intensive aluminium stocks is...
