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 built-up US$30.50/t this week to settle at US$2185/t; SHFE shrank to US$2646/t
The LME aluminium benchmark price gained 1.42 per cent over the week to close at US$ 2185 per tonne as of Friday, March 5. LME aluminium cash (bid) price and LME official settlement price edged higher this week from US$ 2154.50 per tonne to US$ 2185 per tonne. Starting the week on Monday, March 1,...
Weekly update: Aluminium ingot price in China saw mixed performance this week; Alumina price remained flat
SMM aluminium ingot price saw mixed performance this week. The price declined by RMB 220 per tonne and RMB 150 per tonne to stand at RMB 17050 per tonne and RMB 16900 per tonne on Monday,1 March and Tuesday, 2 March. The price on Thursday stood higher by RMB 150 per tonne to RMB 17580 per tonne,...
Alumina spot price in China shrinks to RMB2332/t after a week-long restraint; A00 aluminium ingot price declines by RMB480/t
The average alumina spot price in China has recorded a drop of RMB 12 per tonne to close the week on Friday, March 5, at RMB 2,332 per tonne, following a week-long restraint at RMB 2,344 per tonne, found the Shanghai Metals Market. In Shandong and Guangxi, the alumina spot price has decreased by...
LME aluminium price closed Thursday’s trading at US$ 2169/t; SHFE aluminium dropped 1.64%
Benchmark aluminium price on London Metal Exchange dropped 1.54 per cent to US$ 2169 per tonne on Thursday, 04 March 2021 from US$ 2203 per tonne on Wednesday. As of Thursday, March 4, LME aluminium cash (bid) price stands at US$ 2169 per tonne, LME official settlement price stands at US$ 2169 per...
Vedanta’s aluminium products prices grow back-to-back by INR1250/t with effect from March 4
Vedanta Limited has increased its aluminium products and aluminium ingot prices for the second day in a row, with effect from Thursday, March 4. The price of Vedanta's aluminium wire rod has been raised by INR 1,250 per tonne to INR 192,500 – 200,000 per tonne, in comparison with INR 191,250 –...
NALCO’s aluminium ingot price sees a cut of INR3400/t on March 1 after five hikes in a row till February 26
National Aluminium Company Limited (NALCO) reduced its aluminium ingot and aluminium products prices with effect from Monday, March 1, after raising them five times in a row till February 26, 2021. NALCO’s aluminium ingot price came in at INR 181,850 – 185,350 per tonne on March 1, down by INR...
Global aluminium manufacturers seek Q2 premium of $149-$165 /t
According to a Reuters report, the premium for aluminium shipments to Japanese buyers has been set at $149-$165 per tonne for April-June. That indicated an increase of 15-27 per cent from the current quarter, reported sources involved in market pricing. Japan is the biggest importer of aluminium in...
Hindalco Industries’ aluminium billets price hikes by INR 2,000/t to INR 193,100/t
Hindalco Industries Limited has hikes its aluminium products price for the second time in a row. With effect from Thursday, 04 March 2021, aluminium billets price stands at INR 193,100 per tonne, marking a growth of INR 2,000 per tonne from INR 191,100 per tonne on March 3. The company’s aluminium...
Vedanta sold aluminium ingot at INR2000/t higher on March 3
Vedanta Limited increased its aluminium ingot and aluminium products prices on Wednesday, March 3, following a cut on the previous day. Vedanta raised its aluminium ingot price by INR 2,000 per tonne to INR 183,750 – 196,750 per tonne in comparison with INR 181,750 - 194,750 per tonne on Tuesday,...
China’s aluminium ingot price edges higher by RMB 150/t; Aluminium Alloy (A356) stands at RMB 18300/t
SMM aluminium ingot price has edged higher by RMB 150 per tonne to stand at RMB 17580 per tonne on Thursday, 04 March 2021, from its previous price of RMB 17430 per tonne on March 3. This marks the second consecutive hike in aluminium price. The price is expected to range at RMB 17560-17600 per...
LME aluminium price expands by US$27/t to close at $2203/t; SHFE price climbs to $2724/t
Three-month LME aluminium fell 0.43 per cent to close at US$ 2215 per tonne on Wednesday, with open interest rising to 704,000 lots. It is expected to trade between US$ 2100-2300 per tonne today. LME aluminium cash (bid) price and LME official settlement price expanded by US$ 27 per tonne on...
Hindalco’s aluminium wire rod and billets prices see a rise of INR2000/t on March 3 after a cut by over 1.5% on March 2
Hindalco Industries Limited revised its aluminium ingot and aluminium products prices on two consecutive days – March 2 & March 3. On Tuesday, March 2, the company reduced its aluminium wire rod and aluminium billets prices by INR 3,500 per tonne or 1.8 per cent to INR 193,100 per tonne and INR...
LME aluminium price gained US$21.50/t to settle at US$2176/t; SHFE price rebounded to $2713/t
The LME aluminium benchmark price edged 1 per cent higher on Tuesday, March 2, to close at US$ 2176 per tonne. On Wednesday, the LME complex performed similarly, with aluminium increased 4.46 per cent. LME aluminium cash (bid) price and LME official settlement price gained US$ 21.50 per tonne to...
A00 aluminium ingot price soars by RMB530/t after two intermittent declines; Aluminium alloy (A356) price expands to RMB18150/t
A00 aluminium ingot price has soared by RMB 530 per tonne to settle at RMB 17,430 per tonne on Wednesday, March 3, after two intermittent declines on March 1 and 2 from RMB 17,270 per tonne to RMB 16,900 per tonne, according to the Shanghai Metals Market. The average prices are expected to range...
Vedanta Limited cuts aluminium ingot price by INR3500/t on March 2 after stupendous hike last week
Vedanta Limited has reduced its aluminium ingot and aluminium products prices with effect from Tuesday, March 2, after a colossal hike of INR 7,250 per tonne on Friday, February 26. The company has cut its aluminium ingot price by INR 3,500 per tonne from INR 185,250 – 198,250 per tonne on Friday...
Three-month LME aluminium fell to US$2,121/t on Monday; SHFE aluminium declined 2.18%
Three-month LME aluminium fell 1.67% to close at US$2,121 per tonne on Monday, with open interest falling to 705,000 lots. SMM expects the contract to trade between US$2,000-2,180 per tonne today. As of Monday, March 1, LME aluminium cash (bid) price stands at US$ 2154.50per tonne, LME official...
A00 aluminium ingot price stands below RMB17000/t; Aluminium fluoride price shrinks by RMB150/t
A00 aluminium ingot price has continued to be on a downturn on Tuesday, March 2, to come below RMB 17,000 per tonne, found the Shanghai Metals Market. According to SMM data, the price has shrunk by RMB 150 per tonne to come in at RMB 16,900 per tonne. The average prices are expected to range...
Hindalco Industries’ aluminium products price climbs by INR 7,250/t
Hindalco Industries Limited has raised its aluminium products price by INR 7,250 per tonne. With effect from Friday, 26 February 2021, wire rods price stands at INR 196,600 per tonne. This is an increase of 3.83 per cent from INR 189,350 per tonne on February 24. The company is selling its...
