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 Industries increases aluminium wire rod and billets prices by INR2250/t after an intermittent cut
Hindalco Industries Limited has again increased its aluminium products and aluminium ingot prices with effect from March 18 after an intermittent cut on March 17. The company’s aluminium wire rod price has been raised by INR 2,250 per tonne to INR 196,600 per tonne after being cut by INR 1,250 per...
Three-month LME aluminium slightly down to US$2,115/t; SHFE aluminium shed 0.82%
Three-month LME aluminium fell 0.76% to close at US$2,115 per tonne on Thursday, with stocks falling to 1,897,300 lots. SMM expects the contract to trade between US$2,190-2,220 per tonne today. As of Thursday, March 18, LME aluminium cash (bid) price stands at US$ 2192 per tonne, LME official...
Alumina spot price in China gains RMB6/t after about two-weeks of restraint; A00 aluminium ingot price falls below RMB17500/t
After about two weeks of restraint at RMB 2,332 per tonne, the average alumina spot price in China has inched up by RMB 6 per tonne to close the week on Friday, March 19, at RMB 2,338 per tonne, according to the Shanghai Metals Market. In Shanxi, alumina price has increased by RMB 10 per tonne to...
Vedanta aluminium price marks growth of INR 2,500/t on March 18
Vedanta has registered a hike of 1.32% in its aluminium products price on March18. With effect from Thursday, 18 March 2021, the prices of some aluminium ingots stand at INR 183,750-196,750 per tonne, an increase of 1.32% or INR 2,500 per tonne from INR 181,250-194,250 per tonne on March 17. The...
Hindalco reduces aluminium ingot price by INR1250/t w.e.f. March 17 after raising it a day before
Hindalco Industries Limited reduced its aluminium ingot price and aluminium products prices on Wednesday, March 17, soon after raising the prices by INR 3,500 per tonne on Tuesday, March 16. With effect from March 17, Hindalco’s aluminium ingot price came in at INR 183,250 per tonne, down by INR...
China’s aluminium ingot price climbs by RMB 150/t; Aluminium Alloy (A356) stands at RMB 18400/t
SMM aluminium ingot price has inched up by RMB 150 per tonne on Thursday, 18 March 2021. The price now stands at RMB 17680 per tonne from Wednesday’s price of RMB 17530 per tonne. The price is expected to range at RMB 17660-17700 per tonne. In Foshan and Wuxi, the price has risen by RMB 150 per...
LME aluminium price closed 1.29% higher at US$2205.50/t; SHFE price gained US$28/t to clock at US$2738/t
Three-month LME aluminium rose 1.66 per cent to close at US$ 2,232 per tonne on Wednesday. Carbon neutralization pushed refined aluminium to industry hotspots, and supply and demand improved on the fundamentals. It is expected that the contract will keep fluctuating at high and trade between US$...
Vedanta’s aluminium ingot price stands at INR 181,250-194,250/t with effect from March 17
Vedanta has cut its aluminium products price after raising it by INR 3,750 per tonne on March 16. With effect from Wednesday, 17 March 2021, the prices of some aluminium ingots are in the range of INR 181,250-194,250 per tonne, a drop of INR 1,500 per tonne from INR 182,750-195,750 per tonne on...
Vedanta raised its aluminium ingot price by INR 3,750/t with effect from March 16
Vedanta has increased its aluminium products price by INR 3,750 per tonne. With effect from Tuesday, 16 March 2021, the prices of some aluminium ingots are in the range of INR 182,750-195,750 per tonne, representing a hike of more than 2% from INR 179,000-192,000 per tonne on March 13. The...
Three-month LME aluminium fell 1.1% to close at US$2,195/t; SHFE aluminium gained 0.49%
Three-month LME aluminium fell 1.1% to close at US$2,195 per tonne on Tuesday, with open interest rising to 744,000 lots. SMM expects the contract to trade between US$2,150-2,210 per tonne today. As of Tuesday, March 16, LME aluminium cash (bid) price stands at US$ 2174.50 per tonne, LME official...
A00 aluminium ingot price declines by RMB230/t after two days of surge in a row; Aluminium alloy (A356) price down at RMB18250/t
According to the Shanghai Metals Market, A00 aluminium ingot price in China has witnessed a downfall of RMB 230 per tonne after two consecutive days of rise from RMB 17,370 per tonne to RMB 17,760 per tonne. As of today, March 17, the price is standing at RMB 17,530 per tonne, with average prices...
Narrow downstream demand and soaring aluminium prices lead to weaker secondary aluminium operating rates in China in Feb’21
According to the Shanghai Metals Market, secondary aluminium producers operating rates in China recorded a month-on-month plunge of 20.8 percentage points in February 2021 to stand at 41.35 per cent. However, on a year-on-year calculation, the operating rates increased by 23.23 percentage points,...
Hindalco Industries reports INR 3,500/t growth in aluminium products price
Hindalco Industries Limited has raised its aluminium products price after cutting it for the second time in a row. With effect from Tuesday, 16 March 2021, aluminium billets price stands at INR 191,600 per tonne, an increase of INR 3,500 per tonne from INR 188,100 per tonne on March 13. The company...
China’s aluminium price stands at RMB 17760/t; Aluminium alloy (ADC12) price inches up by RMB 100/t
SMM aluminium ingot price hiked by RMB 140 per tonne on Tuesday, 16 March 2021. The aluminium price now stood at RMB 17760 per tonne from Monday’s price of RMB 17620 per tonne. The price is expected to move within a range of RMB 17740-17780 per tonne. In Foshan and Wuxi, the price rose by RMB 140...
China’s aluminium production improves 8.4% in January & February 2021 with daily output at a new record high
According to the data released by the National Bureau of Statistics, China’s aluminium production gained 8.4 per cent year-on-year in the first two months of 2021, attributing to new capacities and soaring prices. In January and February combined, primary aluminium output in China was 6.45 million...
LME aluminium price expanded by US$45.50/t to stand at US$2184.50/t; SHFE price rose further to US$2746/t
Three-month LME aluminium rose 2.23% to close at US$ 2,220 per tonne on Monday. According to the SMM import profit and loss calculation model, the import profit stood at about RMB 460 per tonne at present, and the import window opened. The inflow of overseas primary aluminium will be monitored. It...
Hindalco Industries reduces its aluminium products price by INR 1,750/t with effect from March 13
Hindalco Industries Limited has cut its aluminium products price for the second time in a row. With effect from Saturday, 13 March 2021, aluminium billets price stands at INR 188,100 per tonne. This is down by INR 1,750 per tonne from INR 189,850 per tonne on March 9. Aluminium ingot and wire rods...
Three-month LME aluminium fell to close at US$2,171/t; SHFE aluminium shed 0.26%
Three-month LME aluminium fell 0.64% to close at US$2,171 per tonne on Friday, with open interest rising to 726,000 lots. SMM expects the contract to fluctuate between US$2,100-2,160 per tonne today. As of Friday, March 12, LME aluminium cash (bid) price stands at US$ 2139 per tonne, LME official...
