Macro rate hike expectations pressure aluminium prices, while China's continued destocking underpins the market
Futures: The most-traded SHFE aluminium 2610 contract closed at RMB 24,000 per tonne, down RMB 190 from yesterday's settlement price, a decline of 0.79 per cent. It opened at RMB 24,100.00 per tonne during the day and fluctuated within a range of RMB 23,920-24,100 per tonne. The price traded below...
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...
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LME aluminium price gained US$15/t to stand at US$1973/t; SHFE price soared to US$2365/t
Three-month LME aluminium firmed 0.28 per cent to end at US$ 1,976.50 per tonne on Wednesday, February 3, with open interest decreasing 1,780 lots to 733,000 lots. LME aluminium cash (bid) price and LME official settlement price gained US$ 15 per tonne to stand at US$ 1973 per tonne on Wednesday,...
Vedanta cuts aluminium ingot price by 1.05% to INR165,500-178,500/t on February 3
Vedanta Limited decreased its aluminium ingot and aluminium products prices for the second time in a row with effect from Wednesday, February 3. The company is currently selling its aluminium ingot at INR 165,500-178,500 per tonne, down by INR 1,750 per tonne or 1.05 per cent from INR...
Hindalco reduces its aluminium wire rod and billets prices by INR1750/t with effect from February 3
Hindalco Industries Limited has further reduced its aluminium products and aluminium ingot prices, albeit slower than the previous time, with effect from Wednesday, February 3. The company reveals that it is now selling its aluminium wire rod price at INR 176,850 per tonne compared to 178,600 per...
US primary aluminium production declines by only 1% M-o-M to 74,000 tonnes in Nov’20; Secondary recovery stands 5% down
The United States domestic primary aluminium production stood at 74,000 tonnes in November 2020, registering a drop of 1,000 tonnes or 1.33 per cent from 75,000 tonnes in October, found the US Geological Survey. The average daily production in the same month was 2,450 tonnes, slightly less than in...
China’s average alumina spot price stands lower at RMB2388/t after a restraint last day; A00 aluminium ingot price extends decline
The average alumina spot price in China has recorded a decline of RMB 14 per tonne to stand at RMB 2,388 per tonne on Wednesday, February 3, following a restraint last day at RMB 2,402 per tonne, found Shanghai Metals Market data. In Henan and Shanxi, alumina price has plunged by RMB 17.50 per...
LME aluminium price extended decline sharply by US$27.50/t to US$1958/t; SHFE price plunged to US$2326/t
Three-month LME aluminium bounced off a two-week low of US$ 1,953 per tonne to an intraday high of US$ 1,979 per tonne before relinquishing some gains to end 0.54 per cent higher at US$ 1,971 per tonne on Tuesday, February 2, with open interest adding 4,145 lots to 735,000 lots. LME aluminium cash...
Why Buy AlCircle’s Report on “Global Aluminium Industry Outlook 2021”?
The year 2021 stands as a year of hope and aspiration for the aluminium metal industry after it’s been through a malaise last year caused by the unprecedented COVID-19 outbreak. So, in the recently-published report - “Global Aluminium Industry Outlook 2021” , AlCircle has made an attempt to share...
Prebaked anode price in Central China grows by RMB55/t after almost a month-long restraint; A00 aluminium ingot price declines
According to Shanghai Metals Market, prebaked anode price in central China has recorded a hike of RMB 55 per tonne to peg at RMB 3,700 per tonne on Tuesday, February 2, following almost a month-long restraint at RMB 3,645 per tonne. The average prices are expected to range between RMB 3,500 per...
Three-month LME aluminium settled at a two-week low of US$1960.50/t; SHFE showed restraint
Three-month LME aluminium declined 0.83 per cent to settle at a two-week low of US$ 1,960.50 per tonne on Monday, February 1. LME aluminium cash (bid) price and LME official settlement price started the week and also the month on Monday, February 1, with a drop of US$ 1.5 per tonne to stand at US$...
LME aluminium price closed the week at US$1987/t; SHFE jumped to US$2352/t on Monday
Three-month LME aluminium ended 0.23 per cent lower at US$ 1,977 per tonne last Friday, January 29, with open interest increasing 1,937 lots to 741,000 lots, and is likely to trade between US$ 1,990-2,050 per tonne today. LME aluminium cash (bid) price and LME official settlement price climbed by...
LME aluminium price plunged this week to US$1987/t amid opening stock surge to 1431050 tonnes; SHFE stood range-bound
Three-month LME aluminium rose 1.28 per cent to close at US$ 2020 per tonne on Monday, January 25. On Tuesday, January 26, it further climbed to US$ 2023 per tonne, but lost 1.75 per cent to close at US$ 1987.50 per tonne on Wednesday, January 27. On Thursday, three-month LME aluminium dipped 0.3...
Vedanta’s aluminium ingot & products prices down by INR2250/t after a hike this week
Vedanta Limited has reduced its aluminium ingot and aluminium products prices with effect from Friday, January 29, in line with sluggish LME aluminium benchmark price since January 27. Decreasing the aluminium ingot price by INR 2,250 per tonne, Vedanta is now selling it at INR 167,250-180,250 per...
NALCO elevates its aluminium ingot price by INR1400/t with effect from January 28
National Aluminium Company Limited (NALCO) has raised its aluminium ingot and aluminium products prices with effect from Thursday, January 28, after two consecutive weeks of decline. With the latest hike, NALCO’s aluminium ingot price has come in at INR 169,250-172,750 per tonne versus INR...
Hindalco Industries’ aluminium billets price dipped by 1.3% to INR 174,600/t
Hindalco Industries Limited has cut its aluminium products price by INR 2250 per tonne. With effect from Friday, 29 January 2021, wire rods price stands at INR 178,600 per tonne, a decrease of 1.24% from INR 180,850 per tonne on January 26. The company is selling its aluminium billets and aluminium...
Three-month LME aluminium slipped to settle at US$1,981.5/t; SHFE aluminium edged down 0.4%
Three-month LME aluminium dipped 0.3% to settle at US$1,981.5 per tonne on Thursday, 28 January 2021. SMM expects the contract to trade between US$1,980-2,000 per tonne today. As of Thursday January 28, LME aluminium cash (bid) price stands at US$ 1979 per tonne, LME official settlement price...
A00 aluminium ingot price gains RMB100/t after three consecutive days of decline; Input costs remain muted
A00 aluminium ingot price has recorded a hike of RMB 100 per tonne to close the week on Friday, January 29, at RMB 14,970 per tonne, after declining in the past three days in a row from RMB 15,030 per tonne to RMB 14,870 per tonne, found Shanghai Metals Market. The average prices are expected to...
China’s aluminium price declines by RMB 40/t; Aluminium Alloy (A356) stands at RMB15550/t
SMM aluminium ingot price has registered a drop for the three days in a row. As of Thursday, 28 January 2021, the price now stands at RMB 14870 per tonne, representing a decline of RMB 40 per tonne from Wednesday’s price of 14910 per tonne. The price is expected to range at RMB 14850-14890 per...
LME aluminium price recorded a plunge of US$21.5/t to settle at US$2003.5/t; SHFE price decreased to US$2289/t
Three-month LME aluminium lost 1.75 per cent to close at US$ 1,987.50 per tonne on Wednesday, January 27, with open interest falling to 739,000 lots. It is expected to trade between US$ 1,970-2,010 per tonne today. LME aluminium cash (bid) price and LME official settlement price decreased to US$...
