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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Alumina price in China rises by RMB 11/t; Aluminium ingot price in Foshan stands at RMB 16500/t
As updated by Shanghai Metals Market, average spot alumina price in China has registered a hike after three days of restraint. The price has marked an increase of RMB 11 per tonne to stand at RMB 2303 per tonne on Tuesday, 08 December 2020. The prices of alumina in Shandong, Henan and Shanxi China...
Benchmark aluminium price on LME stood 1.16% lower at $2004/t; SHFE price declined to $2504/t
The LME complex ended mixed on Monday, with aluminium fell 1.37 per cent. Benchmark aluminium price on the London Metal Exchange plunged by 1.16 per cent on Monday, December 7. Both LME aluminium cash (bid) price and LME official settlement price extended downfall from US$ 2027.50 per tonne on...
A00 aluminium ingot price stands at RMB16,500/t on its third consecutive decline; Aluminium alloy (A356) price falls by RMB100/t
A00 aluminium ingot price in China has extended decline for the third day in a row to stand at RMB 16,500 per tonne on Monday, December 7, according to the Shanghai Metals Market. The price has decreased by RMB 110 per tonne, slower compared with the decline of RMB 240 per tonne on Friday, December...
Three-month LME aluminium ended higher at US$2,041/t on Friday; SHFE aluminium dropped 0.82%
Three-month LME aluminium closed1.29% higher at US$2,041 per tonne on Friday, 4 December 2020. SMM expects the contract to trade between US$2,010-2,060 per tonne today. As of Friday December 4, LME aluminium cash (bid) price stands at US$ 2027.50per tonne, LME official settlement price stands at...
Weekly update: Aluminium ingot price in China saw mixed performance this week; Alumina prices edged higher
SMM aluminium ingot price started the week higher. The price on Monday, 30 November stood at RMB 16770 per tonne, up RMB 440 per tonne from Friday. The price continued to perform higher till Wednesday. Aluminium ingot price ended the week lower at RMB 16610 per tonne on Friday, 4 December 20202020,...
LME aluminium price hiked by $13/t this week to settle at $2027.50/t; SHFE closed range-bound at $2510/t
Benchmark aluminium price on the London Metal Exchange recorded a hike of 99 per cent during November 30-December 4. LME aluminium cash (bid) price and LME official settlement price started the week on Monday, November 30, at US$ 2014.50 per tonne, soaring by US$ 39.50 per tonne from US$ 1975 per...
Prebaked anode price in Southwest China edges higher by RMB 135/t; Al Fluoride stands at RMB 8600/t
Prebaked anode price in Southwest China market has edged higher by RMB 135 per tonne. As on Friday, 04 December 2020, prebaked anode price has ranged at RMB 3565-3850 per tonne. The average price stands at RMB 3,707.5 per tonne, from its previous price of RMB 3572.5 per tonne. The average prices of...
LME aluminium price slipped by $23.50/t to peg at $2028/t; SHFE closed the week at $2510/t
The LME complex closed mixed on Thursday, with aluminium dropped 2.23 per cent. Benchmark aluminium price on the London Metal Exchange declined by US$ 23.50 per tonne on December 3. LME aluminium cash (bid) price and LME official settlement price slipped from US$ 2051.50 per tonne to US$ 2028 per...
Hindalco’s aluminium ingot price soars by over INR5000/t to peg at INR173,000/t w.e.f. December 2
Hindalco Industries Limited has significantly increased the prices of its aluminium ingot and aluminium product with effect from Wednesday, December 2, in line with rallied global aluminium benchmark price on the London Metal Exchange. Hindalco is now selling its aluminium ingot at INR 5,500 per...
LME aluminium price closed slightly higher on Wednesday; SHFE aluminium advanced 1.2%
Benchmark aluminium price on the London Metal Exchange rose by 0.29 per cent to US$ 2051.5 per tonne on Wednesday December 2. That was up from US$ 2045.5 per tonne on Tuesday. As of Wednesday December 2, LME aluminium cash (bid) price stands at US$ 2051.50 per tonne, LME official settlement price...
A00 aluminium ingot price declines by RMB230/t after six days of hike in a row; Prebaked anode price grows by RMB270/t
A00 aluminium ingot price in China has decreased by RMB 230 per tonne to stand at RMB 16,850 per tonne, as of Thursday, December 3, following six consecutive days of hike from RMB 15,930 per tonne to RMB 17,080 per tonne, according to the Shanghai Metals Market. The average prices are expected to...
RHB Research raises its earnings forecasts for Press Metal Aluminium
Press Metal Aluminium Holdings Bhd’s earnings estimates have been raised by the RHB Research. The growth in forecasts is due to rise in aluminium prices on the London Metal Exchange. "PMAH expects the recovery in LME aluminium prices to extend into 2021, due to healthy supply-demand conditions...
Japan aluminium buyers agree to pay premiums at $138-$140/t for January-March
According to a Reuters report, the premium for aluminium shipments to Japanese buyers has been set at $138-$140 per tonne for January-March. The premium marked an increase of 57-59 per cent from this quarter, reported sources involved in market pricing. The increase in premium was due to recovery...
Shri Bijay Kumar Das becomes Director (Production) at NALCO
Shri Bijay Kumar Das has been elevated to the Director (Production) at the Navratna CPSE National Aluminium Company Limited (NALCO), with effect from December 1, 2020. Shri Das was serving NALCO as Executive Director (Projects) at Corporate Office, Bhubaneswar. The association of Mr Das with NALCO...
5 Die Casting Cell ready for sale! Grab the opportunity, huge price reduction
If you are looking for world-class die casting cells to augment casting business than you are at the right place. We have a list of nine die casting cell, which are up for sale with a huge price reduction. AlCircle is here to help out with the best solution to your business towards procurement of...
NALCO expands its aluminium ingot and aluminium product prices by over INR5000/t with effect from December 1
National Aluminium Company Limited (NALCO) has expanded the prices of its aluminium ingot and aluminium products with effect from Tuesday, December 1, following a cut last week on November 26. Since the latest hike on December 1, NALCO’s aluminium ingot price has come in at INR 173,850-177,350 per...
Vedanta’s aluminium ingot price soars by INR 5,250/t with effect from December 2
Vedanta has raised its aluminium products price today after the cutting the price of the same products on November 25. With effect from Wednesday, December 2 2020, the prices of some aluminium ingots are in the range of INR 170,000-183,000 per tonne, up by INR 5,250 per tonne from INR...
China’s alumina price hikes by RMB 4/t; Aluminium ingot price edges higher to RMB 17080/t
As updated by Shanghai Metals Market, average spot alumina price in China has hiked for the second time in a row. The price registered an increase of RMB 4 per tonne to stand at RMB 2292 per tonne on Wednesday, 02 December 2020. The prices of alumina in Shandong, Henan and Shanxi China markets have...
