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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Hindalco increases its aluminium ingot price to nearly INR170,000/t in line with LME aluminium price surge
Hindalco Industries Limited expanded its aluminium ingot and aluminium products prices for the second time in a row, with effect from Tuesday, January 26. Hindalco’s aluminium ingot price is currently standing at INR 169,750 per tonne, up by INR 2,250 per tonne from INR 167,500 per tonne on January...
Three-month LME aluminium climbed to close at US$2,023/t; SHFE aluminium shed 0.77%
Three-month LME aluminium climbed 0.15% to close at US$2,023 per tonne on Tuesday, with open interest falling to 739,000 lots. It is expected to trade between US$1,990-2,050 per tonne today. As of Tuesday January 26, LME aluminium cash (bid) price stands at US$ 2025 per tonne, LME official...
China’s alumina spot price settles higher for the fourth consecutive day at RMB2403/t; A00 aluminium ingot price extends downfall
Extending hike for the fourth day in a row by RMB 5 per tonne, the average alumina spot price in China is standing at RMB 2,403 per tonne on Wednesday, January 27, according to Shanghai Metals Market data. All the major Chinese markets have also witnessed the growth of RMB 5 per tonne. In Shandong,...
Vedanta further raises aluminium ingot price by INR2,250/t in response to LME aluminium price hike over the weekend
Vedanta Limited has expanded its aluminium ingot and aluminium products prices for the second consecutive time, with effect from Tuesday, January 26. The company has raised its aluminium ingot price to INR 169,500-182,500 per tonne from INR 167,250-180,250 per tonne on January 21. This records an...
Alumina spot price in China expands for the third day to clock at RMB2,398/t; A00 aluminium ingot price losses RMB70/t
The average alumina spot price in China has recorded growth for the third consecutive day to stand at RMB 2,398 per tonne on Tuesday, January 26, according to Shanghai Metals Market. In Guizhou and Guangxi, alumina price is hovering around RMB 2,360 per tonne, registering a hike of RMB 10 per tonne...
LME aluminium price rebounded to US$2011.50/t amid continued decrease in opening stock; SHFE price down by US$11/t
Three-month LME aluminium rose 1.28 per cent to close at US$ 2,020 per tonne on Monday, January 25, with open interest rising to 740,000 lots. Schumer, the leader of the Senate Majority Party, said that he would strive to launch a round of programs by mid-March at the latest, and the US$ 1.9...
Chinese alumina spot price further expands to settle at RMB 2,394/t; A00 aluminium ingot price gains RMB30/t
Average alumina spot price in China has opened the week on Monday, January 25, with a further hike of RMB 9 per tonne to stand at RMB 2,394 per tonne, according to Shanghai Metals Market data. In Shandong, Guizhou, and Guangxi, alumina spot price has increased the highest by RMB 15 per tonne, found...
“2021 will probably be a year of slow healing for the complete industry. What I see is that the effect of LME on aluminium pricing was probably as important as the COVID-crisis”, Peter Vanvuchelen, Director Sales & Business Development, Hencon
AlCircle: How do you visualize 2021 for the global aluminium industry after the COVID-19 economic impact? Mr Peter Vanvuchelen: It is very difficult to predict what will happen, and how industries will react, as a pandemic situation as COVID is a completely new situation for every one of us. 2021...
LME aluminium price edged lower at US$1975.50/t after two consecutive days of hike; SHFE expanded to US$2310/t
Three-month LME aluminium fell 0.28 per cent to close at US$ 1,994.50 per tonne on Friday, January 22, with open interest rising to 738,000 lots. It is expected to trade between US$1,920-2,030 per tonne today. LME aluminium cash (bid) price and LME official settlement price decreased to US$ 1975.50...
Hindalco’s aluminium ingot price grows by INR1750/t on January 21 after four consecutive declines
Hindalco Industries Limited reduced its aluminium ingot and aluminium products prices by INR 2,250 per tonne on January 20 but increased a day later by INR 1,750 per tonne. On Wednesday, January 20, Hindalco’s aluminium ingot price had come in at INR 165,750 per tonne, which rebounded to INR...
LME aluminium price grew by US$16.50/t to close the week at US$1992.50/t; SHFE rose to US$2306/t
The LME complex performed similarly on Thursday, with aluminium advanced 0.84 per cent. Benchmark aluminium price on the London Metal Exchange grew by 0.84 per cent to close Thursday, January 21, at US$ 1992.50 per tonne. LME aluminium cash (bid) price and LME official settlement price continued to...
China’s alumina spot price gains RMB9/t after remaining restrained for a day; A00 aluminium ingot price sheds RMB20/t
After a restraint last day at RMB 2,376 per tonne, the average alumina spot price has recorded a growth of RMB 9 per tonne to close the week on Friday, January 22, at RMB 2,385 per tonne, according to Shanghai Metals Market. However, the hike today has not touched upon all the major Chinese cities,...
NALCO continues to decrease aluminium ingot price by INR1700/t this week
National Aluminium Company Limited (NALCO) has further reduced its aluminium ingot and aluminium products prices with effect from Thursday, January 21. After cutting the aluminium ingot price by INR 2000 per tonne last week on January 16, NALCO this week has narrowed the price by INR 1700 per tonne...
A00 aluminium ingot price rebounds to over RMB15000/t; Aluminium alloy (A356) price surges by RMB250/t
A00 aluminium ingot price has jumped by RMB 270 per tonne on Thursday, January 21, to stand above RMB 15,000 per tonne, following the past two consecutive days of decline. Shanghai Metals Market data shows the primary aluminium ingot price has come in at RMB 15,020 per tonne, with average prices to...
LME aluminium benchmark price climbed 1.26% to clock at US$1976/t; SHFE gained US$28/t to settle at US$2299/t
The LME complex rose across the board on Wednesday, with aluminium climbed 0.79 per cent. Benchmark aluminium price on the London Metal Exchange grew by 1.26 per cent to close at US$ 1976 per tonne on January 20. LME aluminium cash (bid) price and LME official settlement price increased to US$ 1976...
Vedanta extends aluminium ingot price cut for the third consecutive day this week by INR2250/t
Vedanta Limited has extended the price cut of its aluminium ingot and aluminium products by INR 2,250 per tonne with effect from January 20, 2021, as the three-month futures of aluminium on the London Metal Exchange continued to shrink till January 19, marking the third consecutive day of fall....
LME aluminium price settles further lower at US$1951.50/t amid increasing opening stock; SHFE price down to US$2271/t
Three-month LME aluminium climbed 0.15 per tonne to close at US$ 1,973 per tonne on Tuesday, with open interest falling to 742,000 lots. The impact of LME aluminium inventory changes on prices should continue to be monitored. It is expected to trade between US$ 1,900-2,010 per tonne today. As of...
China’s alumina spot price edges higher at RMB2376/t after two days of restraint; A00 aluminium ingot price declines
Average alumina spot price in China has recorded a growth of RMB 9 per tonne on Wednesday, January 20, after remaining restrained at RMB 2,367 per tonne in the past two consecutive days. The price today has clocked at RMB 2,376 per tonne, according to Shanghai Metals Market data. In Shandong and...
