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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NALCO again raises its aluminium wire rod and billets prices by INR5400/t on February 26
National Aluminium Company Limited (NALCO) further expanded its aluminium products and aluminium ingot prices for the fifth consecutive time on Friday, February 26. Similar to the previous week, on February 19, the company raised its aluminium wire rod price by INR 5,400 per tonne to INR 185,250-...
Prebaked anode price in East China edges higher by RMB 215/t; Aluminium price declines to RMB 17050/t
Prebaked anode price in East China market has edged higher by RMB 215 per tonne after remaining flat at RMB 3687.5 per tonne since February 1. As of Monday, 01 March 2021, prebaked anode price is currently hovering at RMB 3902.5 per tonne and is expected to range to RMB 3605-4200 per tonne. The...
LME aluminium price shrinks by US$20.50/t following the highest jump ever; SHFE price downtrends to US$2651/t
Three-month LME aluminium fell 2.77 per cent to close at US$ 2157 per tonne on Friday, with open interest rising to 707,000 lots. It is expected to trade between US$ 2050-2250 per tonne today. The influence of overseas macro liquidity and guiding indicators such as US dollar index and crude oil on...
Vedanta’s aluminium prices build-up INR7,250/t in line with highest ever jump in LME aluminium price
Vedanta Limited has raised its aluminium ingot and aluminium products prices significantly with effect from Friday, February 26, following an intervening cut on February 24. The increase in Vedanta’s aluminium prices is in line with the highest ever surge of US$ 77.50 per tonne in the LME aluminium...
LME aluminium price jumps highest ever by US$77.50/t to clock at US$2223/t; SHFE price shrinks by US$35/t
Three-month LME aluminium gained 0.7 per cent to close at US$ 2,218.50 per tonne on Thursday, February 25, and is likely to move around US$ 2,180-2,240 per tonne on February 26. LME aluminium cash (bid) price and LME official settlement price extended its upswing trend by US$ 77.50 per tonne or...
A00 aluminium ingot price downswings to RMB17270/t after soaring last day; Aluminium alloy(A356) price shrinks below RMB18000/t
A00 aluminium ingot price has recorded a plunge of RMB 290 per tonne to close the week on Friday, February 26, at RMB 17,270 per tonne, following a sweeping rise of RMB 820 per tonne to RMB 17,560 per tonne on February 25, found the Shanghai Metals Market. The average prices are likely to range...
China’s aluminium ingot price jumps by RMB820/t; Aluminium alloy (ADC12) price stands at RMB 18300/t
SMM aluminium ingot price marked a big jump on Thursday, 25 February 2021. The aluminium price registered an increase of RMB 820 per tonne from Wednesday’s price of RMB 16740 per tonne. The price now stood at RMB 17560 per tonne today and is expected to move within a range of RMB 17540-17580 per...
LME aluminium price closed 0.42% higher at US$2145.50/t; SHFE price soared by US$104/t to US$2700/t
Three-month LME aluminium jumped 2.27 per cent to settle at US$ 2203 per tonne on Wednesday, with open interest adding 2,677 lots to 700,000 lots. It is likely to fluctuate between US$ 2000-2200 per tonne today. LME aluminium cash (bid) price and LME official settlement price increased by US$ 9 per...
Press Metal Aluminium’s Q4 2020 revenue declines 3.7% due to the lower extrusion products sales
Press Metal Aluminium Holdings Bhd announced results for the fourth quarter and full year of 2020 The Group’s revenue was RM2.12 billion in Q4 2020 as compared to RM2.20 billion in Q4 2019, a decrease of RM81.00 million or 3.7% due to the lower extrusion products sales in Q4 2020. Profit before tax...
Vedanta cuts its aluminium ingots price by INR 1,750/t with effect from February 24
Vedanta has cut its aluminium products price after hiking it for the fifth time in a row. With effect from Wednesday, 24 February 2021, the prices of some aluminium ingots are in the range of INR 191,000-178,000 per tonne, representing a decline of INR 1,750 per tonne from INR 192,750-179,750 per...
Hindalco Industries’ aluminium wire rods price slips by INR 1,750/t
Hindalco Industries Limited has reduced its aluminium products price today. With effect from Wednesday, 24 February 2021, wire rods price stands at INR 189,350 per tonne, a drop of INR 1,750 per tonne from INR 191,100 per tonne on February 19. The company is selling its aluminium billets and...
Three-month LME aluminium settled 0.97% lower at US$2,154/t on Tuesday; SHFE remained unchanged
Three-month LME aluminium fell to an intraday low of US$2,126.5 per tonne before regaining some ground to settle 0.97% lower at US$2,154 per tonne on Tuesday, with open interest adding 2,813 lots to 697,000 lots. As of Tuesday, February 23, LME aluminium cash (bid) price stands at US$ 2136.50 per...
China’s alumina spot price shrinks by RMB18/t to RMB2344/t; A00 aluminium ingot price stands at RMB16740/t
The average alumina spot price in China has slipped by RMB 18 per tonne to stand at RMB 2,344 per tonne on Wednesday, February 24, after two consecutive days of restraint at RMB 2,362 per tonne on February 22 and 23, found the Shanghai Metals Market. SMM data shows the alumina spot price in...
China’s aluminium ingot price climbs by RMB 50/t; Aluminium Alloy (A356) stands at RMB 17500/t
SMM aluminium ingot price has edged higher by RMB 50 per tonne to stand at RMB 16780 per tonne on Tuesday, 23 February 2021, from its previous price of RMB 16730 per tonne on February 22. The price is expected to range at RMB 16760-16800 per tonne. In Foshan and Wuxi, the price has increased by RMB...
LME aluminium price edged nearly 1% higher to US$2153.50/t; SHFE price rose to US$2598/t
Three-month LME aluminium gained 1.83 per cent to settle at US$ 2,175 per tonne on Monday, with open interest adding 4,910 lots to 694,000 lots. LME aluminium cash (bid) price and LME official settlement price grew by US$ 18.50 per tonne on Monday, February 22 to reach at US$ 2153.50 per tonne,...
LME aluminium price closed the week lower at US$ 2135/t; SHFE aluminium edged up 0.89%
Benchmark aluminium price on London Metal Exchange decreased by 0.56% to US$ 2135 per tonne on Friday, February 19, from US$ 2147 per tonne on Thursday. As of Friday, February 19, LME aluminium cash (bid) price stands at US$ 2135per tonne, LME official settlement price stands at US$ 2135 per tonne;...
China’s A00 aluminium ingot price soars by RMB300/t to stand above RMB16,500/t: SMM
According to the Shanghai Metals Market, A00 aluminium ingot price has continued to surge by RMB 300 per tonne on Monday, February 21, to stand at RMB 16,730 per tonne, the highest since the beginning of 2021. The average price are expected to range between RMB 16,710 per tonne and RMB 16,750 per...
LME aluminium price surged by US$56/t during February 15-19; SHFE opened the market after CNY holiday at US$2527/t
Benchmark aluminium price on the London Metal Exchange increased by 2.69 per cent throughout the week during February 15-19, 2021. Both LME aluminium cash (bid) price and LME official settlement price recorded a surge during February 15-19 from US$ 2079 per tonne to US$ 2135 per tonne – an increase...
