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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LME aluminium price settled higher by $31/t to $2045.5/t; SHFE extended growth to $2591/t
The LME complex rose for the most part, including aluminium, which added 0.91 per cent. Global aluminium benchmark price on the London Metal Exchange climbed 1.54 per cent on December 1. LME aluminium cash (bid) price and LME official settlement price surged to US$ 2045.50 per tonne on December 1...
A00 aluminium ingot price hikes by RMB210/t to stand close to RMB17000/t; Aluminium alloys prices exceed RMB17000/t
A00 aluminium ingot price has soared on December 1, 2020, to stand close to RMB 17,000 per tonne, according to the Shanghai Metals Market. Growing by RMB 210 per tonne, the primary aluminium ingot price has come in at RMB 16,980 per tonne, with average prices expected to range between RMB 16,960...
LME aluminium price climbed to stand at US$ 2014.5/t; SHFE aluminium advanced 2.93%
Benchmark aluminium price on the London Metal Exchange rose by 2 per cent to US$ 2014.5 per tonne on Monday, November 30 from US$ 1975 per tonne on Friday. As of Monday November 30, LME aluminium cash (bid) price stands at US$ 2014.50 per tonne, LME official settlement price stands at US$ 2014.50...
LME aluminium price climbed $13.5/t to hover at $1975/t; SHFE rose for the fourth consecutive day to $2500/t
The LME complex rose on Friday, November 27, with aluminium climbed up by 1.65 per cent. Benchmark aluminium price on the London Metal Exchange rose by 0.69 per cent on November 27 from US$ 1961.50 per tonne on Thursday, November 26. Both LME aluminium cash (bid) price and LME official settlement...
Aluminium ingot price in China jumps RMB 440/t; Aluminium alloy (ADC12) price soars to stands at RMB 16800/t
SMM aluminium ingot price soared by RMB 440 per tonne from Friday’s price of RMB 16330 per tonne. The price now stood at RMB 16770 per tonne on Monday, November 30, 2020 and is expected to move within a range of RMB 16750-16790 per tonne. In Foshan and Wuxi, the price inched up by RMB 430 per tonne...
Press Metal Aluminium’s Q3 revenue down by 12.2% due to Covid-19 pandemic
Press Metal Aluminium reported results for the third quarter of 2020. The Group’s revenue stood at RM1.86 billion in Q3 2020, a decrease of RM0.26 billion or 12.2% from RM2.12 billion in Q3 2019 due to the impact of Covid-19 pandemic. The Group reported a profit before tax of RM172.92 million in Q3...
LME aluminium closed lower at US$ 1961.5/t; SHFE aluminium added 0.22%
Benchmark aluminium price on London Metal Exchange dropped 0.28 per cent to US$ 1961.5 per tonne on Thursday, November 26, from US$ 1967 per tonne on Wednesday. As of Thursday November 26, LME aluminium cash (bid) price stands at US$ 1961.50 per tonne, LME official settlement price stands at US$...
China’s alumina spot price dips by RMB2/t to RMB2281/t; Aluminium alloys (ADC12) price jumps above RMB17000/t
China’s average alumina spot price has recorded a dip of RMB 2 per tonne to close the week on Friday, November 27, at RMB 2,281 per tonne, according to the Shanghai Metals Market. The price has recorded a change today after remaining restrained for the last two consecutive days on November 25 & 26....
NALCO's aluminium ingot price declines by INR1800/t w.e.f November 26 after seven consecutive rises
National Aluminium Company Limited (NALCO) has cut the prices of its aluminium ingot and aluminium products with effect from Thursday, November 26, after raising them for seven times in a row till November 19. The Navratna Group has reduced its aluminium ingot price by INR 1,800 per tonne or 1.06...
Hindalco cuts its aluminium wire rod & billets prices by INR2000/t with effect from November 25
Hindalco Industries Limited has reduced the prices of its aluminium products and aluminium ingot with effect from Wednesday, November 25, in line with the downtrend in global aluminium benchmark price on the London Metal Exchange after November 19. Hindalco has cut its aluminium wire rod price by...
A00 aluminium ingot price in China extends growth to stand at RMB16,130/t; Aluminium alloys(ADC12) price climbs by RMB50/t
According to the Shanghai Metals Market, A00 aluminium ingot price in China has extended its growth on Thursday, November 26, albeit much slower than the previous day, to continue to remain above RMB 16,000 per tonne. The price is standing at RMB 16,130 per tonne growing by RMB 10 per tonne. The...
LME aluminium price closed higher at $1967/t after two days of decline in a row; SHFE price dropped by $3/t to $2431/t
LME aluminium price closed the day on Wednesday, November 25, 0.13 per cent higher to US$ 1967 per tonne, following two consecutive days of decline. Both LME aluminium cash (bid) price and LME official settlement price stood at US$ 1967 per tonne, growing by US$ 2.50 per tonne on November 25....
Vedanta cuts its aluminium ingot and product prices by INR1750/t after raising them for six times in a row
Vedanta has reduced the prices of its aluminium ingot and aluminium products with effect from Wednesday, November 25, after increasing them for six times in a row till a week ago. The company has cut its aluminium prices in tandem with the downtrend of global aluminium benchmark price on the London...
China’s A00 aluminium ingot price exceeds RMB16000/t on higher market demand; Aluminium alloys(ADC12) price grows by RMB100/t
China’s A00 aluminium ingot price has outshone the level of RMB 16,000 per tonne on Wednesday, November 25, found the Shanghai Metals Market. Soaring by RMB 190 per tonne, the primary aluminium ingot price has come in at RMB 16,120 per tonne today, with average prices expected to range between RMB...
LME aluminium price fell for the second day in a row to $1964.5/t; SHFE rose to $2434/t
Three-month LME aluminium rose 0.91 per cent to close at US$ 1985.50 per tonne on Tuesday, November 24, with open interest rising to 727,000 lots. The pressure at US$ 2000 per tonne will be monitored in the near term. It is expected to trade between US$ 1,960-2,000 per tonne today. LME aluminium...
Alumina price in China rises by RMB 4/t; Australian alumina FOB price stands at USD 283/t
As updated by Shanghai Metals Market, average spot alumina price in China has increased by RMB 4 per tonne on Tuesday, 24 November 2020 to stand at RMB 2283 per tonne, after a decline of RMB1 per tonne since yesterday. Alumina price in Shanxi has risen by RMB 10 per tonne to stand at RMB 2280 per...
LME aluminium price opened the week with a fall of 0.73% to $1969.5/t; SHFE decreased to $2397/t
Three-month LME aluminium began the week on Monday, November 23, with a 0.98 per cent fall to settle at US$ 1967.5 per tonne, with open interest rising to 726,000 lots. It is expected to trade between US$ 1950-2000 per tonne today. LME aluminium cash (bid) price and LME official settlement price...
Three-month LME aluminium dropped slightly on Friday; SHFE aluminium added 0.98%
Three-month LME aluminium fell 0.1% to close at US$1,987 per tonne on last Friday. SMM expects the contract to trade between US$1,970-2,010 per tonne today. As of Friday November 20, LME aluminium cash (bid) price stands at US$ 1984 per tonne, LME official settlement price stands at US$ 1984 per...
