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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A00 aluminium ingot price extends downfall by RMB110/t to peg at RMB16,540/t; Aluminium alloy(A356) price lowers by RMB100/t
According to the Shanghai Metals Market, A00 aluminium ingot price has decreased for the second day in a row by RMB 110 per tonne to stand at RMB 16,540 per tonne, as of Tuesday, May 15. The average prices are expected to range between RMB 16,520 per tonne and RMB 16,560 per tonne, with spot...
LME aluminium price soared to $2042.50/t amid LME aluminium opening stock growth; SHFE declined to $2521/t
The LME complex ended higher on Monday, December 14, with aluminium advanced 0.76 per cent. Benchmark aluminium price on the London Metal Exchange surged 1.01 per cent to US$ 2042.50 per tonne, as of Monday. Both LME aluminium cash (bid) price and LME official settlement price soared by US$ 20.5...
A00 aluminium ingot price declines to RMB16,650/t amid aluminium fluoride price growth to RMB8,700/t
According to the Shanghai Metals Market data, A00 aluminium ingot price has opened the week on Monday, December 14, with a downfall of RMB 70 per tonne to stand at RMB 16,650 per tonne, following two consecutive hikes to RMB 16,720 per tonne. The average prices are expected to range between RMB...
LME aluminium price fell to $2022/t after two consecutive hikes; SHFE price settled 1.29% lower at $2526/t
The LME complex declined mostly on last Friday, with aluminium pulled back 0.73 per cent. Benchmark aluminium price on the London Metal Exchange declined 0.44 per cent to US$ 2022 per tonne on Friday, December 11, 2020. Both LME aluminium cash (bid) price and LME official settlement price decreased...
Vedanta hikes its aluminium ingot price by INR 1,500/t
Vedanta has hiked its aluminium products price after cutting it for the second time in a row. With effect from Thursday, December 10 2020, the prices of some aluminium ingots are in the range of INR 167,500-180,500 per tonne. This marks an increase of INR 1,500 per tonne from INR 166,000-179,000...
Alumina spot price in China expands further to RMB2318/t and so the price of primary aluminium ingot to RMB16720/t
The average alumina spot price in China has continued to grow by RMB 4 per tonne to stand at RMB 2,318 per tonne as of December 11, marking the fourth consecutive increase, according to the Shanghai Metals Market data. In Henan and Shanxi, the alumina price has come in at RMB 2,330 per tonne...
LME aluminium price closed higher at US$ 2031/t; SHFE aluminium climbed 2.16%
Benchmark aluminium price on London Metal Exchange rose 1.04 per cent to US$ 2031 per tonne on Thursday, 10 December 2020, from US$ 2010 per tonne on Wednesday. As of Thursday December 10, LME aluminium cash (bid) price stands at US$ 2031 per tonne, LME official settlement price stands at US$ 2031...
NALCO reduces its aluminium wire rod and billets prices by INR2600/t w.e.f. December 10 after global price fall
National Aluminium Company Limited (NALCO) has reduced the prices of its aluminium product and aluminium ingot with effect from Thursday, December 10, following a hike last week on December 1. NALCO has cut its aluminium wire rod price by INR 2,600 per tonne or 1.47 per cent from INR...
Hindalco raises its aluminium products price by INR 2,000/t with effect from December 11
Hindalco Industries Limited has hiked its aluminium products price for the third time in a row. With effect from Friday, 11 December 2020, , the company’s wire rods price stands at INR 183,350 per tonne, up by INR 2,000 per tonne, from INR 181,350 tonne on December 10. Aluminium billets price has...
India’s largest carmaker Maruti Suzuki to hike vehicle prices from Jan’21; Aluminium and other raw materials gets costlier
Maruti Suzuki Ltd., India’s largest carmaker withholding more than 50% of market share in the passenger vehicle segment, announced that from January’21 it would increase prices of its vehicles. It is forecasted that the price rise could be more this time, as the cost of raw materials has increased...
Hindalco extends aluminium ingot price cut by INR1500/t to INR168,750/t with effect from December 9
Hindalco Industries Limited extended its aluminium ingot and aluminium product price cut on Wednesday, December 9, despite a hike in global aluminium benchmark price on the London Metal Exchange. Hindalco’s aluminium ingot price has been reduced by INR 1,500 per tonne to INR 168,750 per tonne,...
Alumina spot price in China grows for the third day in a row to RMB2314/t; A00 aluminium ingot price surges by RMB200/t
The average alumina spot price in China has extended growth for the third consecutive day by RMB 4 per tonne to RMB 2,314 per tonne, as of Thursday, December 10, according to the Shanghai Metals Market. In Henan and Shanxi, the alumina price has come in at RMB 2,325 per tonne growing by RMB 5 per...
LME aluminium price rebounded to $2010/t after a plunge; SHFE price stood higher at $2518/t
The LME complex mostly advanced on Wednesday, December 9, with aluminium increased 1.85 per cent. Benchmark aluminium price on the London Metal Exchange rose by 1.21 per cent on December 9. Both LME aluminium cash (bid) price and LME official settlement price rebounded to US$ 2010 per tonne on...
Vedanta’s aluminium ingot price declines by INR 1,250/t with effect from December 9
Vedanta has cut its aluminium products price for the second time in a row. With effect from Wednesday, December 9 2020, the prices of some aluminium ingots are in the range of INR 166,000-179,000 per tonne, down by INR 1,250 per tonne from INR 167,250-180,250 per tonne on December 8. Billet price...
Alumina spot price in China settles higher at RMB2310/t, while A00 aluminium ingot price decreases to RMB16410/t
China’s average alumina spot price has recorded a hike of RMB 7 per tonne on Wednesday, December 9, to come in at RMB 2,310, found the Shanghai Metals Market. In Henan and Shanxi, the price has grown by RMB 10 per tonne to stand at RMB 2,320 per tonne. In Guizhou and Guangxi, alumina price has...
LME aluminium price closed Tuesday’s trading at US$ 1986/t; SHFE aluminium dropped 1.02%
Benchmark aluminium price on London Metal Exchange dropped 0.9 per cent to US$ 1986 per tonne on Tuesday, 08 December 2020, from US$ 2004 per tonne on Monday. As of Tuesday December 8, LME aluminium cash (bid) price stands at US$ 1986 per tonne, LME official settlement price stands at US$ 1986 per...
Vedanta reduces its aluminium ingot price by 1.6% to INR167,250-180,250/t with effect from December 8
Vedanta Limited has reduced the prices of its aluminium ingot and aluminium product with effect from Tuesday, December 8, following a hike last week on December 2. Vedanta has cut its aluminium ingot price by INR 2,750 per tonne or 1.62 per cent from INR 170,000-183,000 per tonne to INR...
Hindalco cuts its aluminium ingot price by INR 2750/t on December 8 in line with global aluminium price fall on LME
Hindalco Industries Limited has cut its aluminium ingot and aluminium product prices with effect from Tuesday, December 8, in line with the decline in global aluminium benchmark price on the London Metal Exchange since December 3. With the latest cut, Hindalco's aluminium ingot price has come in at...
