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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Vedanta’s aluminium ingot price shrinks by INR1500/t w.e.f. December 22 after two consecutive hikes
Vedanta Limited has reduced the prices of its aluminium ingot and aluminium products with effect from Tuesday, December 22, after two consecutive hikes on December 10 and December 11. With the latest cut, Vedanta’s aluminium ingot price has come in at INR 167,750-180,750 per tonne, down by INR...
China’s A00 aluminium ingot price extends downfall to RMB16350/t; Aluminium fluoride price dwindles by RMB100/t
According to the Shanghai Metals Market, A00 aluminium ingot price has extended the downfall, although slower than on December 21, to stand at RMB 16,350 per tonne, as of Tuesday, December 22. The price today has fallen by RMB 180 per tonne compared with the decline of RMB 430 per tonne on Monday....
LME aluminium price opened the week higher at US$ 2012.5/t; SHFE edged down 2.34%
Benchmark aluminium price on London Metal Exchange dropped 1.78 per cent to US$ 2012.5 per tonne on Monday, 21 December 2020, from US$ 2049 per tonne on Friday. As of Monday December 21, LME aluminium cash (bid) price stands at US$ 2012.50 per tonne, LME official settlement price stands at US$...
Supply shortages of aluminium and copper cause adverse impact on fan manufacturers in Pakistan: PEFMA
The Chairman of Pakistan Electric Fan Manufacturers Association (PEFMA), Fahad Rafiq, pointed out on Friday, December 18, that manufacturers of fans, utensils, electrical wires, car parts, kitchenware, die casting, machining, and aluminium window frames had been facing shortages of aluminium and...
LME aluminium price surged by $21/t to close the week at $2049/t on Dec 18; SHFE opened the week at $2496/t
The LME complex ended mixed on last Friday, with aluminium fell 0.56 per cent. Benchmark aluminium price on the London Metal Exchange closed the week with an increase of 1.04 per cent to stand at US$ 2049 per tonne. Both LME aluminium cash (bid) price and LME official settlement price soared by US$...
Aluminium ingot price in China falls by RMB 430/t; Aluminium alloy (ADC12) price stands at RMB 17400/t
SMM aluminium ingot price marks a drop of RMB 430 per tonne after three days of rise. The price now stands at RMB 16530 per tonne on Monday, December 21, 2020 from Friday’s price of RMB 16960 per tonne. The price and is expected to move within a range of RMB 16510-16550 per tonne. In Foshan and...
NALCO’s aluminium ingot price declines by INR1400/t with effect from December 18 after an interim hike
National Aluminium Company Limited (NALCO) has reduced the prices of its aluminium ingot and aluminium products with effect from Friday, December 18, after an interim hike on December 15. With the latest cut, NALCO’s aluminium ingot price has come in at INR 172,350-175,850 per tonne, down by INR...
LME aluminium price edged higher this week by $6.5/t to settle at $2049/t; SHFE rose by $28/t to $2554/t
Benchmark aluminium price on the London Metal Exchange rose by US$ 6.5 per tonne over the week to settle at US$ 2049 per tonne, as of Friday, December 18. Both LME aluminium cash (bid) price and LME official settlement price edged higher this week during December 14-18 after swinging between US$...
A00 aluminium ingot price soars by RMB230/t to close the week at RMB16960/t; Alumina spot price grows marginally
A00 aluminium ingot price has soared by RMB 230 per tonne to stand at RMB 16,960 per tonne on Friday, December 18, according to the Shanghai Metals Market. The continuous rise in domestic primary aluminium demand amid limited stocks at warehouses has contributed to the third consecutive day of A00...
World’s largest two-wheeler manufacturer “Hero MotoCorp” to hike price of vehicles in India; blames rise in commodity costs, including Aluminium
Hero MotoCorp, the Indian multinational motorcycle and scooter manufacturer based in New Delhi and also the largest two-wheeler manufacturer in the world and also in India is going for a price hike for its vehicles from January 2021 in India. The decision came in the public forum by the means of a...
LME aluminium price dipped to $2028/t while SHFE price extended growth by $42/t to $2554/t
Benchmark aluminium price on the London Metal Exchange dipped to US$ 2028 per tonne on Thursday, December 17, 2020, from US$ 2029 per tonne on Wednesday. Both LME aluminium cash (bid) price and LME official settlement price dipped marginally by US$ 1 per tonne to stand at US$ 2028 per tonne on...
A00 aluminium ingot price extends growth by RMB80/t to RMB16730/t amid muted input costs
According to the Shanghai Metals Market, A00 aluminium ingot price has extended growth for the second consecutive day by RMB 80 per tonne on Thursday, December 17, to stand at RMB 16,730 per tonne. The average prices are expected to range between RMB 16,710 per tonne and RMB 16,750 per tonne, with...
LME aluminium edged up 0.35% on Wednesday; SHFE aluminium advanced 0.58%
Benchmark aluminium price on London Metal Exchange edged up 0.35 per cent to US$ 2029 per tonne on Wednesday, 16 December 2020, from US$ 2022 per tonne on Tuesday. As of Wednesday December 16, LME aluminium cash (bid) price stands at US$ 2029 per tonne, LME official settlement price stands at US$...
Switzerland: Winterthur electricity network replaces copper lines with Aluminium
Winterthur electricity network in Switzerland replaces its copper lines by aluminium, which will support the city to save 80,000 francs a year. The Winterthur electricity will no longer flow through copper cables in the future, whereas it will be conducted over aluminium cables. However, aluminium...
A00 aluminium ingot price settles higher at RMB16,650/t after two days of decline; Aluminium alloy(A356) price grows by RMB100/t
A00 aluminium ingot price has recorded an increase of RMB 110 per tonne after two consecutive days of downfall to stand at RMB 16,650 per tonne, as of Wednesday, December 16, according to the Shanghai Metals Market. The average prices are expected to range between RMB 16,630 per tonne and RMB...
LME aluminium price decreased 1% to close at $2022/t; SHFE declined for the third consecutive day to $2501/t
The LME complex rose broadly on Tuesday but aluminium shed 0.98 per cent. Benchmark aluminium price on the London Metal Exchange decreased 1 per cent to US$ 2022 per tonne, as of Tuesday, December 15. Both LME aluminium cash (bid) price and LME official settlement price relapsed to US$ 2022 per...
NALCO’s aluminium wire rod price rebounds to INR177,250-181,600/t with effect from December 15
National Aluminium Company Limited’s (NALCO) aluminium wire rod price rebounded to INR 177,250-181,600 per tonne with effect from Tuesday, December 15, following a downfall on December 11 to INR 174,750-179,100 per tonne. This shows the price of NALCO’s aluminium wire rod increased by INR 2,500 per...
China’s primary aluminium production grows 8.7% YoY to 3.18MT with daily output hit a record high in November 2020
Data from the National Bureau of Statistics (NBS) showed China’s primary aluminium production in November grew 8.7 per cent year-on-year to 3.18 million tonnes, with daily output hit a record high. Despite a month-on-month downfall of 0.6 per cent in production from October's 3.2 million tonnes,...
