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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China’s aluminium ingot price slips by RMB 150/t; expected to range at RMB 14880-14920/t
SMM aluminium ingot price registers a drop for the third day in a row. The price stands at RMB 14900 per tonne on Wednesday, 13 January 2021, a decrease of RMB 150 per tonne from Tuesday’s price of RMB 15050 per tonne. The price and is expected to move within a range of RMB 14880-14920 per tonne....
LME aluminium price closed higher at US$2025.50/t; SHFE price decreased for the third day to US$2316/t
Benchmark aluminium price on the London Metal Exchange stood 0.87 per cent higher on Tuesday, January 12. As of Tuesday, January 12, LME aluminium cash (bid) price and LME official settlement price surged by US$ 17.50 per tonne to US$ 2025.50 per tonne, following a plunge in the previous day from...
Vedanta reports INR 1,500/t decline in its aluminium ingot price
Vedanta has reduced its aluminium products price after hiking it on January 9. With effect from Tuesday, 12 January 2021, the prices of some aluminium ingots are in the range of INR 170,500-183,500 per tonne, marking a decline of INR 1,500 per tonne from INR 172,000-185,000 per tonne on January 09....
LME aluminium price dropped 1.06% to settle at US$ 2008/t; SHFE aluminium fell 2.66%
Benchmark aluminium price on London Metal Exchange declined by 1.06 per cent on Monday, 11 January 2021, standing at US$ 2008 per tonne. The price was US$ 2029.5 per tonne on Friday January 8. As of Monday January 11, LME aluminium cash (bid) price stands at US$ 2008 per tonne, LME official...
China’s A00 aluminium ingot price declines the highest this month to RMB15,050/t; Alumina price in Shandong gains RMB10/t
A00 aluminium ingot price in China has recorded the highest downfall of January 2021 and the second-highest since the fall of RMB 430 per tonne on December 21, as of Tuesday, January 12. According to Shanghai Metals Market data, the price has plunged by RMB 350 per tonne to stand at RMB 15,050 per...
Hindalco Industries’ aluminium products price grows by INR 2,250/t
Hindalco Industries Limited has raised its aluminium products price by INR 2,250 per tonne on Saturday. With effect from 09 January 2021, wire rods price stands at INR 183,350 per tonne, an increase of 1.24% from INR 181,100 tonne on January 8. Aluminium billets price has hiked to stand at INR...
Vedanta raises its aluminium products prices by INR2250/t following an intermittent cut
Vedanta Limited increased its aluminium products and aluminium ingot prices with effect from Saturday, January 9, following an intermittent cut on Friday, January 8. That marked the fifth consecutive day since Tuesday, January 5, that Vedanta revised its aluminium products and ingot prices. With...
HLIB Research predicts Press Metal Aluminium to report significant growth in profit
Hong Leong Investment Bank (HLIB) Research expects Press Metal Aluminium Holdings Bhd to report significant growth in profit due to higher aluminium prices and the commissioning of Samalaju Phase 3. HLIB Research has also started coverage of the company at RM8.40 with a buy call and target price...
Prebaked anode price in Southwest China climbs to stand at RMB 3772.5/t; Aluminium price falls by RMB 310/t
Prebaked anode price in Southwest China market has edged higher by RMB 65 per tonne after remaining unchanged since December 4. The price stands at RMB 3772.5 per tonne today from previous price of RMB 3707.5 per tonne. It is likely to range at RMB 3625-3920 per tonne. Average prebaked anode prices...
LME aluminium benchmark price increased to US$2029.50/t; SHFE price opened the week lower at US$2372/t
Benchmark aluminium price on the London Metal Exchange rose 1.07 per cent to come in at US$ 2029.50 per tonne on Friday, January 8, 2021. As of Friday, January 8, LME aluminium cash (bid) price and LME official settlement price surged by US$ 21.50 per tonne from US$ 2008 per tonne to US$ 2029.50...
Hindalco cuts aluminium ingot price by over 2% with effect from January 8
Hindalco Industries Limited has sharply reduced its aluminium ingot and aluminium products prices with effect from Friday, January 8, after hiking them in the past two consecutive days. With the latest cut, Hindalco’s aluminium ingot price has come in at INR 170,000 per tonne, a decrease of INR...
Vedanta sharply cuts its aluminium products prices by INR4,500/t after three consecutive hikes
Vedanta Limited has decreased its aluminium ingot and aluminium products prices with effect from Friday, January 8, following the three consecutive days of hike. The company’s aluminium ingot price is now hovering at INR 169,750-182,750 per tonne, down by INR 4,500 per tonne from INR...
A00 aluminium ingot price gains RMB170/t to close the week at RMB15,710/t; Aluminium alloy(A356) price climbs RMB150/t
China's A00 aluminium ingot price has jumped by RMB 170 per tonne on Friday, January 8, to close the week at RMB 15,710 per tonne, found the Shanghai Metals Market. The average prices are expected to range between RMB 15,690 per tonne and RMB 15,730 per tonne, with spot contract to be traded at a...
LME aluminium price declined 2.64% to close at US$ 2008/t; SHFE aluminium shed 0.49%
Benchmark aluminium price on London Metal Exchange declined by 2.64 per cent to come in at US$ 2008 per tonne on Thursday, 7 January 2021, from US$ 2062.5 per tonne on 6 January 2021. As of Thursday January 7, LME aluminium cash (bid) price stands at US$ 2008 per tonne, LME official settlement...
Vedanta’s aluminium ingot price stands at INR 174,250-187,250/t with effect from January 7
Vedanta has risen its aluminium products price for the third time in a row. With effect from Thursday, 07 January 2021, the prices of some aluminium ingots are in the range of INR 174,250-187,250 per tonne, representing a growth of INR 3,000 per tonne from INR 171,250-184,250 per tonne on January...
China’s alumina price stands marginally higher; Alumina (Imported) price stands at RMB 2460/t
As updated by Shanghai Metals Market, average spot alumina price in China has increased by RMB 2 per tonne on Thursday, 07 January 2021 to come in at RMB 2340 per tonne, after remaining flat at 2338 per tonne since December 29. Alumina price in Shanxi has risen by RMB 5 per tonne to stand at RMB...
Hindalco back-to-back increases its aluminium products prices; Aluminium wire rod price grows by INR3000/t
Hindalco Industries Limited has back-to-back increased the prices of its aluminium ingot and aluminium products, with effect from Thursday, January 7. After increasing the price of aluminium wire rod by INR 2750 per tonne or 1.53 per cent on January 6, Hindalco Industries on the very next day has...
LME aluminium price jumped US$32/t to clock at US$2062.5/t; SHFE decreased to $2393/t after a day restraint
Benchmark aluminium price on the London Metal Exchange closed the day on Wednesday, January 6, 1.73 per cent higher at US$ 2062.50 per tonne. LME aluminium cash (bid) price and LME official settlement price soared by US$ 32 per tonne on Wednesday, January 6, to stand at US$ 2062.50 per tonne from...
