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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NALCO increases aluminium ingot price by INR4100/t on January 6 after two consecutive declines
National Aluminium Company Limited (NALCO) has raised the prices of its aluminium ingot and aluminium products with effect from Wednesday, January 6, after reducing them for the two consecutive times. NALCO’s aluminium ingot price has come in at INR 171,550-175,050 per tonne, recording a...
Vedanta hikes its aluminium ingot price by INR 1,250/t with effect from January 6
Vedanta has increased its aluminium products price for the second time in a row. With effect from Wednesday, 06 January 2021, the prices of some aluminium ingots are in the range of INR 171,250-184,250 per tonne. This marks an increase of INR 1,250 per tonne from INR 170,000-183,000 per tonne on...
Hindalco Industries’ billets price rises by 1.56% to INR 178,600/t
Hindalco Industries Limited has risen its aluminium products price INR 2,750 per tonne. With effect from Wednesday, 06 January 2021, the company’s wire rods price stands at INR 182,600 per tonne, from INR 179,850 tonne on December 30. Aluminium billets price has hiked to stand at INR 178,600 per...
A00 aluminium ingot price remains muted at RMB15690/t; Australian alumina FOB price climbs by US$2/t
According to the Shanghai Metals Market, A00 aluminium ingot price has remained restrained at RMB 15,690 per tonne, with average prices expected to range between RMB 15,670 per tonne and RMB 15,710 per tonne, as of Wednesday, January 6. Spot contract is expected to trade at a premium price of RMB...
LME aluminium closed Tuesday's trading at US$ 2027.5/t; SHFE aluminium added 0.46%
Benchmark aluminium price on London Metal Exchange inched up by 0.7 per cent to come in at US$ 2027.5 per tonne on Tuesday, 5 January 2021, from US$ 2013.5 per tonne on 4 January 2021. As of Tuesday January 5, LME aluminium cash (bid) price stands at US$ 2027.50per tonne, LME official settlement...
Vedanta’s aluminium ingot price jumps by INR 6,250/t with effect from January 05
Vedanta has hiked its aluminium products price after declining it for the third time in a row. With effect from Tuesday, 05 January 2021, the prices of some aluminium ingots are in the range of INR 170,000-183,000 per tonne, a jump of INR 6,250 per tonne from INR 163,750-176,750 per tonne on...
China’s aluminium price rises by RMB 100/t after five days; Aluminium Alloy (A356) stands at RMB 16400/t
SMM aluminium ingot price has registered a hike after five days of drop. As of Tuesday, 05 January 2021, the price now stands at RMB 15690 per tonne, marking growth of RMB 100 per tonne from Monday’s price of 15590 per tonne. The price is expected to range at RMB 15670-15710 per tonne. In Foshan...
LME aluminium opened higher at US$ 2013.5/t after the holiday; SHFE shed 0.29%
Benchmark aluminium price on London Metal Exchange rose 1.79 per cent to stand at US$ 2013.5 per tonne on Monday, 4 January 2021, from US$ 1978 per tonne on December 31. As of Monday January 4, LME aluminium cash (bid) price stands at US$ 2013.50 per tonne, LME official settlement price stands at...
A00 aluminium ingot price declines for the fifth consecutive day to RMB15590/t; Prebaked anode price up by RMB60/t
According to the Shanghai Metals Market, A00 aluminium ingot price in China has reopened the market after the New Year Holiday with a plunge of RMB 120 per tonne to stand at RMB 15,590 per tonne, as of January 4, 2021. This marks the fifth consecutive day of decline since December 28, 2020. The...
SHFE aluminium price resumes from the New Year Holiday with a drop of $2/t to $2396/t on January 4
Shanghai aluminium price resumed from the New Year Holiday on Monday, January 4, with a dip of 0.08 per cent from US$ 2398 per tonne to US$ 2396 per tonne. LME aluminium on Friday, January 1, was closed. As of last Thursday, December 31, LME aluminium cash (bid) price and LME official settlement...
LME aluminium price lost US$22/t in the last week of 2020; SHFE price decreased by US$47/t
Benchmark aluminium price on the London Metal Exchange closed the week on Thursday, December 31, lower by US$ 44 per tonne or 2.18 per cent at US$ 1978 per tonne. LME aluminium cash (bid) price and LME official settlement price started the week on Tuesday, December 29, at US$ 2000 per tonne, down...
Weekly update: Aluminium ingot price in China performed lower this week; Aluminium inventories closed the year 2020 at 613,000 tonnes
SMM aluminium ingot price trended lower this week. The price on Monday, 28 December declined by RMB 120 per tonne to stand at RMB 16190 per tonne. The price further dropped on Tuesday and Wednesday, ending the price at RMB 15870 per tonne and RMB 15770 per tonne. Aluminium ingot price ended lower...
NALCO begins the year 2021 with a significant aluminium ingot price cut by INR4900/t with effect from January 1
National Aluminium Company Limited (NALCO) has continued to reduce the prices of its aluminium ingot and aluminium products for the second time in a row after two weeks on January 1, 2021. With the latest cut, NALCO’s aluminium ingot price has come in at INR 167,450-170,950 per tonne, down by INR...
Vedanta cuts its aluminium ingot price by INR2,500/t with effect from January 1
Vedanta has reduced its aluminium products price for the third time in a row. With effect from Friday, 01 January 2021, the prices of some aluminium ingots are in the range of INR 163,750-176,750 per tonne. This is up by INR 2,500 per tonne from INR 166,250-179,250 per tonne on December 30. The...
LME aluminium price closed lower at US$ 1978/t on the last day of the year; SHFE slightly fell
Benchmark aluminium price on London Metal Exchange dropped 0.88 per cent on the last day of the year. The price came in at US$ 1978 per tonne on Thursday, 31 December 2020, from US$ 1995.5 per tonne on Wednesday. As of Thursday December 31, LME aluminium cash (bid) price stands at US$ 1978 per...
LME aluminium price edged lower for the second consecutive day at US$1995.50/t; SHFE decreased to US$2398/t
The LME complex were mostly higher on Wednesday, with aluminium added 0.68 per cent. Benchmark aluminium price on the London Metal Exchange, however, extended drop by 0.22 per cent to finish the day at US$ 1995.50 per tonne on December 30. LME aluminium cash (bid) price and LME official settlement...
China’s Aluminium ingot price fell by RMB60/t to RMB15710/t; Aluminium Alloy (A356) declines by RMB50/t
SMM aluminium ingot price has dropped for the fourth day in a row. As of Thursday, 31 December 2020, the price now stands at RMB 15710 per tonne. This is down by RMB 60 per tonne from Wednesday’s price of 15,770 per tonne. The price is expected to range at RMB 15690-15730 per tonne. In Foshan and...
AlCircle launches new report - Aluminium Industry Recap 2020
As the year 2020 comes to an end, AlCircle recapitulates the year in its new report Aluminium Industry Recap 2020 . The report compiles the new major innovations, investments, expansions, and policy changes that either shaped or disrupted the global aluminium industry value chain in 2020. The...
