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 Industries cuts aluminium products price by INR 1,250/t
Hindalco Industries Limited has cut its aluminium products price for the third time in a row. With effect from Tuesday, 19 January 2021, wire rods price stands at INR 179,100 per tonne, down by INR 1,250 per tonne from INR 180,350 per tonne on January 16. The company is selling its aluminium...
Vedanta further cuts aluminium ingot price by INR2250/t in line with LME aluminium price drop below US$2000/t
Vedanta Limited has further reduced its aluminium ingot and products prices for the second time in a row with effect from Tuesday, January 19. The company is currently selling its aluminium ingot at INR 167,750-180,750 per tonne, down by INR 2,250 per tonne or 1.32 per cent from INR 170,000-183,000...
LME aluminium price slipped 1.05 % to US$ 1979.50/t; SHFE aluminium advanced 0.54%
Benchmark aluminium price on London Metal Exchange declined by 1.05 per cent on Monday, 18 January 2021, to stand at US$ 1979.50 per tonne, from US$ 2000.5 per tonne on Friday January 15. As of Monday January 18, LME aluminium cash (bid) price stands at US$ 1979.50 per tonne, LME official...
China’s 2020 aluminium production records 4.9% growth to 37.08MT, with December output at all-time high
According to the latest data revealed by the National Bureau of Statistics (NBS), China’s aluminium production in 2020 increased by 4.9 per cent year-on-year to stand at 37.08 million tonnes, attributing to capacity ramp-up by smelters to cash in on soaring prices. Output in December stood all-time...
A00 aluminium ingot price comes below RMB15000/t on January 19; Aluminium alloy(A356) price falls by RMB200/t
A00 aluminium ingot price in China has again come below RMB 15,000 per tonne after hiking in the past two consecutive days to stand at RMB 15,060 per tonne on Monday, January 18, found the Shanghai Metals Market. According to SMM data, the price is hovering around RMB 14,830 per tonne on Tuesday,...
Hindalco Industries reports INR 1,500/t decline in its aluminium products price
Hindalco Industries Limited has reduced its aluminium products price for the second time in a row. With effect from Saturday, 16 January 2021, wire rods price stands at INR 180,350 per tonne, marking a drop of INR 1,500 per tonne from INR 181,850 per tonne on January 12. The company is selling its...
China’s aluminium ingot price opened the week higher at RMB 15060/t; Aluminium Alloy (A356) up by RMB 100/t
SMM aluminium ingot price opened the week higher. The price stands at RMB 15060 per tonne on Monday, 18 January 2021, a growth of RMB 120 per tonne from Friday’s price of RMB 14940 per tonne. The price is expected to move within a range of RMB 15040-15080 per tonne. In Foshan and Wuxi, the price...
Three-month LME aluminium closed lower at US$1,982/t on Friday; SHFE aluminium added 0.92%
Three-month LME aluminium closed 1.29% lower at US$1,982 per tonne on Friday, with open interest increasing 2,467 lots to 750,000 lots. SMM expects the contract to fluctuate between US$1,950-2,010 per tonne today. As of Friday January 15, LME aluminium cash (bid) price stands at US$ 2000.50per...
Weekly update: Aluminium ingot price in China trended lower this week; Alumina price remained flat
SMM aluminium ingot price trended lower, except Friday. The price declined by RMB 310 per tonne and RMB 350 per tonne to stand at RMB 15400 per tonne and RMB 15050 per tonne on Monday,11 January and Tuesday,12 January. The price further dropped to RMB 14720 per tonne on Thursday, down from RMB...
NALCO’s aluminium prices shrink by INR2000/t on January 16 in line with sluggish LME aluminium benchmark price
National Aluminium Company Limited (NALCO) has cut its aluminium ingot and products prices with effect from Saturday, January 16, following a significant hike ten days ago on January 6. According to the company’s price update, aluminium ingot price has come in at INR 169,550-173,050 per tonne, down...
LME aluminium benchmark price shrinks to US$2000.50/t this week; SHFE price declines 3% to US$2297/t
Benchmark aluminium price on the London Metal Exchange decreased this week by 0.37 per cent to settle at US$ 2000.50 per tonne amid the incessant decline in LME aluminium opening stock from 1305825 tonnes to 1288675 tonnes. LME aluminium cash (bid) price and LME official settlement price closed...
Vedanta Limited cuts aluminium ingot price by 1% with effect from January 14
Vedanta Limited again decreased its aluminium ingot and aluminium product prices on January 14 after increasing them on the previous day. With effect from Thursday, January 14, Vedanta slashed its aluminium ingot price by INR 1,750 per tonne or 1.02 per cent from INR 171,750-184,750 per tonne to...
China’s alumina price rises by RMB 27/t; Alumina (Imported) price declines to RMB 2445/t
As updated by Shanghai Metals Market, average spot alumina price in China has increased by RMB 27 per tonne today after five days of restrained at RMB 2340 per tonne. The price now stands at RMB 2367 per tonne as of Friday, 15 January 2021. Alumina prices in Shandong and Henan have risen by RMB 20...
LME aluminium price grew marginally to close at US$2010.50/t; SHFE price increased to US$2297/t after consecutive declines
The LME complex closed mixed on Thursday. Benchmark aluminium price on the London Metal Exchange grew slightly by 0.50 per cent to close at US$ 2010.50 per tonne on January 14. LME aluminium cash (bid) price and LME official settlement price inched up marginally by US$ 1 per tonne from US$ 2009.50...
A00 aluminium ingot price records fourth consecutive day of decline to RMB14,720/t; Bauxite price in Henan shrinks by RMB7.5/t
A00 aluminium ingot price has continued to fall for the fourth consecutive day by RMB 180 per tonne to stand at RMB 14,720 per tonne on Thursday, January 14, found the Shanghai Metals Market. The average prices are expected to range between RMB 14,700 per tonne and RMB 14,740 per tonne, with spot...
LME aluminium price lost US$16/t to close at US$2009.50/t; SHFE aluminium fell for the fourth day to US$2274/t
The LME complex ended mostly lower on Wednesday, January 13, with aluminium lost 0.62 per cent. Benchmark aluminium price on the London Metal Exchange edged 0.79 per cent lower on Wednesday. LME aluminium cash (bid) price and LME official settlement price decreased by US$ 16 per tonne from US$...
Vedanta Ltd adds INR1250/t to its aluminium ingot price on January 13 after a cut last day
Vedanta Limited has raised its aluminium ingot and aluminium products prices with effect from Wednesday, January 13, just a day after reducing the prices by INR 1,500 per tonne. Vedanta is currently selling its aluminium ingot at INR 171,750-184,750 per tonnes, up by INR 1,250 per tonne or 0.73 per...
Hindalco Industries cuts its aluminium products price by INR 1,500/t
Hindalco Industries Limited has cut its aluminium products price following a hike of INR 2,250 per tonne on Saturday. With effect from Tuesday, 12 January 2021, wire rods price stands at INR 181,850 per tonne, a decline of 0.82% from INR 183,350 tonne on January 09. The company is selling its...
