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 hikes its aluminium wire rod price by 1% on March 25 after a sharp cut of INR4250/t on March 24
Hindalco Industries Limited increased its aluminium products and aluminium ingot prices on Thursday, March 25, following a sharp cut on March 24. Hindalco’s aluminium wire rod price witnessed a slash of INR 4,250 per tonne on March 24 from INR 200,350 per tonne to INR 196,100 per tonne. However, on...
China’s aluminium ingot price rises for the second day in a row; Aluminium alloy (ADC12) price climbs by RMB 50/t
SMM aluminium ingot price increased for the second day in a row. The price increased from RMB 17200 per tonne to RMB 17330 per tonne on Friday, 26 March 2021. That was up by RMB 130 per tonne from Thursday’s price. It is expected to move within a range of RMB 17310-17350 per tonne. Aluminium price...
LME aluminium price slipped to US$2208/t amid continued decline in aluminium opening stock; SHFE price further gained US$11/t
Three-month LME aluminium rose 0.36 per cent to close at US$ 2,256 per tonne on Thursday. It is expected to trade between US$ 2,230-2,260 per tonne today. LME aluminium cash (bid) price and LME official settlement price decreased by US$ 12.50 per tonne on Thursday, March 25, to stand at US$ 2208...
Vedanta’s aluminium ingot price nosedived by INR4000/t on March 24 but gained 1% on March 25 to settle at INR185500-198500/t
Vedanta Limited slashed its aluminium ingot and aluminium products prices by INR 4,000 per tonne with effect from March 24, following a hike of INR 3,500 per tonne on March 23. That brought the company’s aluminium ingot price to INR 183,250-196,250 per tonne from INR 187,250-200,250 per tonne on...
A00 aluminium ingot price builds-up RMB120/t to stand at RMB17200/t; Aluminium alloy(A356) price settles at RMB17900/t
According to the Shanghai Metals Market, A00 aluminium ingot price has recorded a hike of RMB 120 per tonne to stand at RMB 17,200 per tonne on Thursday, March 25, following two consecutive days of decline from RMB 17,540 per tonne to RMB 17,080 per tonne. The average prices are expected to range...
LME aluminium price edged US$15.50/t higher to settle at US$2220.50/t; SHFE price grew to US$2634/t
Three-month LME aluminium rose 1.54 per cent to close at US$ 2,248 per tonne on Wednesday. It is expected that the contract will trade between US$ 2,230-2,260 per tonne today. LME aluminium cash (bid) price and LME official settlement price grew by US$ 15.50 per tonne on Wednesday, March 24, to...
Hindalco Industries further expands aluminium wire rod price by INR3750/t with effect from March 23
Hindalco Industries Limited further expanded its aluminium products and aluminium ingot prices with effect from Tuesday, March 23. With the latest hike, Hindalco’s aluminium wire rod price is standing above INR 200,000 per tonne. It was increased by INR 3,750 per tonne on March 23 to INR 200,350...
China’s A00 aluminium ingot price shrinks for the second day in a row to RMB17080/t amid muted input costs: SMM
A00 aluminium ingot price in China has continued to decline on Wednesday, March 24, to stand at RMB 17,080 per tonne, marking the second consecutive day of fall after a hike over the weekend on Monday, March 22. According to SMM, the average prices today are expected to range between RMB 17,060 per...
LME aluminium price shrank to US$2205/t after a surge over the weekend; SHFE price declined to US$2619/t
Three-month LME aluminium fell 2.64 per cent to close at US$ 2214 per tonne on Tuesday. It is expected to trade between US$ 2,200-2,230 per tonne today. LME aluminium cash (bid) price and LME official settlement price shrank by US$ 49 per tonne to come in at US$ 2205 per tonne on Tuesday, March 23,...
Vedanta hikes its aluminium ingot price by INR 3,500/t
Vedanta has hiked its aluminium products price by around 2% today. With effect from Tuesday, 23 March 2021, the prices of some aluminium ingots stand at INR 187,250-200,250 per tonne. The price registered an increase of INR 3,500 per tonne from INR 183,750-196,750 per tonne on March 18. The company...
China’s aluminium price edges lower by RMB 320/t; Aluminium alloy (A356) reduces to RMB 17900/t
SMM aluminium ingot price stood at RMB 17220 per tonne on Tuesday, 23 March 2021, indicating a decline of RMB 320 per tonne from Monday’s price of RMB 17540 per tonne. It is expected to move within a range of RMB 17200-17240 per tonne. Aluminium price in Foshan and Wuxi declined by RMB 310 per...
Three-month LME aluminium opened the week lower at US$2,274/t; SHFE aluminium ended the day 0.72% higher
Three-month LME aluminium fell 0.15% to close at US$2,274 per tonne on Monday. SMM expects the contract to trade between US$2,250-2,280 per tonne today. As of Monday, March 22, LME aluminium cash (bid) price stands at US$ 2254 per tonne, LME official settlement price stands at US$ 2254 per tonne;...
China’s aluminium ingot price stands higher by RMB140/t; Aluminium alloy (ADC12) price up by RMB 100/t
SMM aluminium ingot price marked a growth after a drop on Friday. The aluminium price increased by RMB 140 per tonne from Friday’s price of RMB 17400 per tonne to RMB 17540 per tonne on Monday, 22 March 2021. It is expected to move within a range of RMB 17520-17560 per tonne. In Foshan and Wuxi,...
LME aluminium price decreased for the second day in a row to US$2188/t; SHFE price rose 1.5% to US$2707/t
Three-month LME aluminium rose 2.82 per cent to close at US$ 2,277.50 per tonne on Friday. It is expected to fluctuate between US$ 2,190-2,220 per tonne today. LME aluminium stocks increased nearly 70,000 tonnes to 1.97 million tonnes. The contract is expected to fluctuate at US$ 2,200-2,270 per...
NALCO’s aluminium ingot price gains INR1500/t with effect from March 20, 2021
National Aluminium Company Limited has raised its aluminium ingot and aluminium products prices after reducing them by INR 3,400 per tonne about three weeks ago. With effect from Saturday, March 20, NALCO’s aluminium ingot price has come in at INR 183,350-186,850 per tonne, up by INR 1,500 per...
Weekly update: Aluminium ingot price in China ended the week lower; Alumina price remained muted
SMM aluminium ingot price started the week with a hike of RMB 250 per tonne on Monday, March 15 2021 to RMB 17620 per tonne. The price on Wednesday stood lower by RMB 230 per tonne to RMB 17530 per tonne, from Tuesday’s price of RMB 17760 per tonne. The aluminium price closed the week lower at RMB...
LME aluminium price grew this week but range-bound to US$2188/t; SHFE price plunged to US$2667/t
Three-month LME aluminium edged 2.23 per cent higher on Monday, March 15, to close at US$ 2220 per tonne but fell the next day, March 16, by 1.1 per cent to come in at US$ 2195 per tonne, with open interest rising to 744,000 lots. On Wednesday, the price again rose to 1.66 per cent to US$ 2232 per...
Rusal reports a 6% decline in primary aluminium and alloys sales for FY2020, but a hike in VAP sales by 11%
Rusal’s primary aluminium and alloys sales in 2020 ended on December 31 stood at 3.926 million tonnes, reflecting a downfall of 5.99 per cent from 4.176 million tonnes a year ago. In the first half of the year ended on June 30, the sales hovered around 1.890 million tonnes, which improved by 7.7...
