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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Rusal’s Q4 2020 aluminium production stands 1.2% higher at 950,000 tonnes, while full-year output remains flat
Rusal recently announced its fourth-quarter and full-year operating results of 2020, revealing that its aluminium production in Q4 stood at 950,000 tonnes, bringing the total full-year output to 3.755 million tonnes. The production in Q4 saw an increase of 1.2 per cent from 939,000 tonnes in Q3,...
Vedanta hikes its aluminium ingot price by INR 1,750/t
Vedanta has hiked its aluminium products price for the fourth time in a row. With effect from Wednesday, 10 February 2021, the prices of some aluminium ingots are in the range of INR 172,250-185,250 per tonne. This marks a growth of INR 1,750 per tonne from INR 170,500-183,500 per tonne on February...
LME aluminium closed Wednesday’s trading at US$ 2070.5/; SHFE closed for Chinese New Year holiday
Benchmark aluminium price on London Metal Exchange rose 1.22 per cent to US$ 2070.5 per tonne on Wednesday, February 10, from US$ 2045.5 per tonne on Tuesday. As of Wednesday, February 10, LME aluminium cash (bid) price stands at US$ 2070.50per tonne, LME official settlement price stands at US$...
China’s aluminium price grows by RMB 30/t; Aluminium alloy (ADC12) price stands at RMB 17100/t
SMM aluminium ingot price has registered a hike for the five days in a row. As of Wednesday, 10 February 2021, the price now stands at RMB 15770 per tonne, marking a growth of RMB 30 per tonne. The price is expected to range at RMB 15750-15790 per tonne. In Foshan and Wuxi, the price has risen by...
Three-month LME aluminium rose to close at US$2,061.5/t; SHFE aluminium climbed 1.21%
Three-month LME aluminium advanced 1.7% to close at US$2,061.5 per tonne on Tuesday, with open interest adding 4,006 lots to 725,000 lots. As of Tuesday, February 9, LME aluminium cash (bid) price stands at US$ 2045.50 per tonne, LME official settlement price stands at US$ 2045.50 per tonne;...
Vedanta selling its aluminium ingot higher at INR170,500-183,500/t with effect from February 9
Vedanta Limited has increased its aluminium ingot and aluminium products prices for the third day in a row, with effect from Tuesday, February 9. Aluminium ingot price has been raised by INR 1,250 per tonne from INR 169,250-182,250 per tonne on February 6 to INR 170,500-183,500 per tonne on...
Hindalco’s aluminium wire rod and billets prices reflect third consecutive growth of INR1250/t on February 9
Hindalco Industries Limited has increased its aluminium products and aluminium ingot prices for the third time in a row, albeit slower than the previous time, with effect from Tuesday, February 9. Hindalco’s aluminium wire rod price has come in at INR 181,850 per tonne after being raised by INR...
A00 aluminium ingot price stands highest this year at RMB15740/t; Aluminium alloy (A356) price expands by RMB150/t
A00 aluminium ingot price has increased further for the fourth day in a row by RMB 140 per tonne to RMB 15,740 per tonne amid muted input costs on Tuesday, February 9, found the Shanghai Metals Market. This marks the highest price since the beginning of 2021. According to SMM, the average prices...
LME aluminium price soared to US$2025.50/t; SHFE price rallied to the highest this year at US$2460/t
Three-month LME aluminium added 0.4 per cent to settle at US$ 2,027 per tonne on Monday after hitting a one-month high at US$ 2,040 per tonne earlier in the session, with open interest decreasing 4,352 lots to 741,000 lots. LME aluminium cash (bid) price and LME official settlement price opened the...
A00 aluminium ingot price exceeds RMB15,500/t; Aluminium alloy(A356) price gains RMB100/t to clock at RMB16,300/t
A00 aluminium ingot price has increased further for the third consecutive day to exceed RMB 15,500 per tonne, as of Monday, February 8, found the Shanghai Metals Market. Data shows the price is standing at RMB 15,600 per tonne witnessing a growth of RMB 90 per tonne. The average prices are expected...
LME aluminium price edged higher to settle at US$2007.50/t; SHFE rose for the third day in a row to US$2427/t
Three-month LME aluminium advanced 1.23 per cent to settle at US$ 2,019 per tonne last Friday, February 5, with open interest decreasing 3,086 lots to 725,000 lots. LME aluminium cash (bid) price and LME official settlement price continued to grow to close the last week ending on Friday, January 5,...
NALCO reduces its aluminium ingot price this week by INR1600/t
National Aluminium Company Limited has reduced its aluminium ingot and aluminium products prices this week, with effect from Friday, February 5. NALCO’s aluminium ingot price has thus come in at INR 167,650-171,150 per tonne, down by INR 1,600 per tonne from INR 169,250-172,750 per tonne on last...
Vedanta back-to-back raises its aluminium ingot price on February 5 & 6 in line with 3-month aluminium futures surge on LME
Vedanta Limited increased its aluminium ingot and aluminium products prices back-to-back on February 5 and 6, in line with LME aluminium price hike. On February 5, the company raised its aluminium ingot price by INR 1,500 per tonne from INR 165,500-178,500 per tonne to INR 167,000-180,000 per...
LME aluminium price gained US$22/t this week to close above US$2000/t; SHFE price rose by US$55/t to US$2407/t
Three-month LME aluminium stood a two-week low at US$ 1960.50 per tonne on Monday, February 1. On Tuesday, it gained 0.54 per cent to settle higher at US$ 1971 per tonne. It further firmed 0.28 per cent to end at US$ 1,976.50 per tonne on Wednesday and also grew 0.91 per cent to close at US$...
Hindalco raises aluminium ingot price by INR1500/t w.e.f. February 5 after two consecutive cuts
Hindalco Industries Limited has raised its aluminium ingot and aluminium products prices with effect from Friday, February 5, after reducing them for the past two consecutive times. The company has revealed that it is now selling its aluminium ingot at INR 167,250 per tonne compared to INR 165,750...
A00 aluminium ingot price settles above RMB15,500/t; Aluminium alloy(A356) price climbs by RMB150/t
According to the Shanghai Metals Market, A00 aluminium ingot price has extended its growth by RMB 160 per tonne to close the week on Friday, February 5, at RMB 15,510 per tonne. The average prices are expected to range between RMB 15,490 per tonne and RMB 15,530 per tonne, with spot contract to be...
LME aluminium price extended growth to U$1979.50/t; SHFE closed the week higher at US$2407/t
Three-month LME aluminium increased 0.91 per cent to close at US$ 1,994.50 per tonne on Thursday, February 4, with open interest decreasing 4,593 lots to 728,000 lots. LME aluminium cash (bid) price and LME official settlement price further witnessed a hike, albeit slower than the previous day, by...
A00 aluminium ingot price in China ascends to RMB15,350/t; It drives aluminium alloy (A356) price hike to RMB16,050/t
A00 aluminium ingot price has soared by RMB 320 per tonne to stand at RMB 15,350 per tonne on Thursday, February 4, following a plunge of RMB 160 per tonne to RMB 15,030 per tonne on February 3, found Shanghai Metals Market. The average prices are expected to range between RMB 15,330 per tonne and...
