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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A00 aluminium ingot price extends growth to stand at RMB17620/t; Aluminium alloy(A356) price soars by RMB300/t
According to the Shanghai Metals Market, A00 aluminium ingot price has opened the week on Monday, March 15, with the third consecutive day of growth by RMB 250 per tonne to RMB 17,620 per tonne, found the Shanghai Metals Market. The average prices are expected to range between RMB 17,600 per tonne...
Vedanta cuts its aluminium ingot price by INR 2,000/t with effect from March 13
Vedanta has cut its aluminium products price for the second day in a row. With effect from Saturday, 13 March 2021, the prices of some aluminium ingots are in the range of INR 179,000-192,000 per tonne, marking a decrease of 1.1% or INR 2,000 per tonne from INR 181,000-194,000 per tonne on March 9....
China’s aluminium ingot price hikes by RMB 10/t; expected to range at RMB 17350-17390/t
SMM aluminium ingot price registers a hike for the second day in a row. The price stands at RMB 17370 per tonne on Friday, March 12 2021. This is a growth of RMB 10 per tonne from Thursday’s price of RMB 17360 per tonne. The price is expected to move within a range of RMB 17350-17390 per tonne. In...
Three-month LME aluminium rose 0.92% to close at US$2,185/t; SHFE aluminium jumped 2.57%
Three-month LME aluminium rose 0.92% to close at US$2,185 per tonne on Thursday, with open interest rising to 716,000 lots. SMM expects the contract to trade between US$2,100-2,200 per tonne today. As of Thursday, March 11, LME aluminium cash (bid) price stands at US$ 2159per tonne, LME official...
A00 aluminium ingot price in China settles RMB270/t higher on March 11 after two consecutive declines: SMM
After two consecutive downfalls on March 9 and 10 from RMB 17,490 per tonne to RMB 17,090 per tonne, A00 aluminium ingot price has recorded a surge of RMB 270 per tonne on Thursday, March 11, to settle at RMB 17,360 per tonne. The average prices are expected to range between RMB 17,340 per tonne...
LME aluminium price closed higher at US$ 2149.5/t; SHFE aluminium edged down 0.06%
Benchmark aluminium price on London Metal Exchange slightly up by 0.4 per cent to US$ 2149.5 per tonne on Wednesday, March 10, from US$ 2141 per tonne on Tuesday. As of Wednesday, March 10, LME aluminium cash (bid) price stands at US$ 2149.50 per tonne, LME official settlement price stands at...
Alumina price in Shandong stands RMB 10/t higher; Australian alumina FOB down by USD 4/t
As updated by Shanghai Metals Market, alumina price in Shandong China market has marked a hike after two days of restraint. The price has increased by RMB 10 per tonne to stand at RMB 2340 per tonne on Wednesday, 10 March 2021. Alumina price in other major markets remained unchanged today....
LME aluminium price settled lower for the second consecutive day at US$2141/t; SHFE declined to US$2624/t
Three-month LME aluminium fell 0.3 per cent to close at US$ 2,166 per tonne on Tuesday, March 9, with open interest rising to 705,000 lots. It is expected to trade between US$ 2,100-2,200 per tonne on March 10. LME aluminium cash (bid) price and LME official settlement price further decreased for...
Hindalco reduces aluminium wire rod and billets prices by 1% with effect from March 9
Hindalco Industries Limited has again cut its aluminium products and aluminium ingot prices with effect from Tuesday, March 9, after an intermittent hike on Saturday, March 6. Hindalco has reduced its aluminium wire rod price by INR 2,000 per tonne or 1.02 per cent from INR 195,850 per tonne to INR...
Vedanta’s aluminium ingot price stands lower at INR181000-194000/t with effect from March 9
Vedanta Limited has cut its aluminium ingot and aluminium products prices with effect from Tuesday, March 9, after a rise on Saturday, March 6. The aluminium ingot price has come in at INR 181,000-194,000 per tonne, representing a decline of INR 2,000 tonne from INR 183,000-196,000 per tonne on...
Three-month LME aluminium dropped to close at US$2,172.5/t; SHFE aluminium advanced 0.17%
Three-month LME aluminium fell 0.53% to close at US$2,172.5 per tonne on Monday. SMM expects the contract to trade between US$2,140-2,250 per tonne today. As of Monday, March 8, LME aluminium cash (bid) price stands at US$ 2152.50 per tonne, LME official settlement price stands at US$ 2152.50 per...
China’s A00 aluminium ingot price declines by RMB310/t to RMB17180/t; Aluminium alloy(A356) price shrinks to RMB17900/t
A00 aluminium ingot price in China has recorded a downfall of RMB 310 per tonne to stand at RMB 17,180 per tonne on Tuesday, March 9, following a surge of RMB 390 per tonne on the previous day, found the Shanghai Metals Market. The average prices are expected to range between RMB 17,160 per tonne...
Hindalco Industries hikes its aluminium products price by INR 1,500/t
Hindalco Industries Limited has hiked its aluminium products price after cutting it on Friday. With effect from Saturday, 06 March 2021, aluminium billets price stands at INR 191,850 per tonne, an increase of INR 1,500 per tonne from INR 190,350 per tonne on March 5. The company’s aluminium ingot...
China’s aluminium ingot price registers a hike of RMB390/t; Aluminium alloy (ADC12) price stands at RMB 18100/t
SMM aluminium ingot price marked a growth of RMB 390 per tonne on Monday, March 8 2021. The aluminium price stood at RMB 17490 per tonne today from Friday’s price of RMB 17100 per tonne. The price is expected to move within a range of RMB 17470-17510 per tonne. In Foshan and Wuxi, the price rose by...
LME aluminium price edged 0.74% higher to US$2185/t; SHFE price gained US$40/t to stand at US$2686/t
Three-month LME aluminium rose 2.54 per cent to close at US$ 2184 per tonne on Friday, with open interest falling to 707,000 lots. It is expected to trade between US$ 2150-2250 per tonne today. LME aluminium cash (bid) price and LME official settlement price gained US$ 16 per tonne or 0.74 per cent...
Vedanta raises its aluminium ingots price by INR 1,500/t
Vedanta has hiked its aluminium products price by INR 1,500 per tonne. With effect from Saturday, 06 March 2021, the prices of some aluminium ingots are in the range of INR 183,000-196,000 per tonne, representing an increase of 0.83 per cent from INR 181,500-194,500 per tonne on March 5. The...
Hindalco Industries reports INR 2,750/t decline in its aluminium products price
Hindalco Industries Limited has cut its aluminium products price after hiking it for the second time in a row. With effect from Friday, 05 March 2021, aluminium billets price stands at INR 190,350 per tonne. This is down by INR 2,750 per tonne from INR 193,100 per tonne on March 4. The company is...
US primary aluminium production rebounded in December 2020 to 77,000 tonnes; Total output in 2020 lowers 7% YoY
The United States domestic primary aluminium production stood at 77,000 tonnes in December 2020, up by 3,000 tonnes or 4.05 per cent from 74,000 tonnes in November, showed the recent data released by the United States Geological Survey. With this, the total aluminium production in 2020 came in at...
