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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Three-month LME aluminium increased slightly higher on Monday; SHFE aluminium slid 0.32%
Three-month LME aluminium rose 0.96% to close at US$1,953 per tonne on Monday, with open interest rising to 750,000 lots. SMM expects the contract to trade between US$1,930-1,980 per tonne today. As of Monday November 16, LME aluminium cash (bid) price stands at US$ 1933 per tonne, LME official...
Vedanta raises its aluminium ingot price by INR 1,500/t
Vedanta has hiked its aluminium products price for the fourth time in a row. With effect from Saturday, 14 November 2020, the prices of some aluminium ingots are in the range of INR 162,500-175,500 per tonne, up by INR 1,500 per tonne from INR 161,000-174,000 per tonne on November 13. The company’s...
Aluminium ingot prices in China stands at RMB 15670/t; Aluminium Alloy (A356) price up by RMB 50/t
SMM aluminium ingot price has started the week higher. The price stands at RMB 15670 per tonne on Monday, 16 November 2020, marking an increase of RMB 40 per tonne. The price is expected to range at RMB 15650-15690 per tonne. In Foshan and Wuxi, the price has risen by RMB 30 per tonne and RMB 40...
Three-month LME aluminium closed higher at US$1,934.5/t on Friday; SHFE aluminium rose 1.77%
Three-month LME aluminium rose 0.36% to close at US$1,934.5 per tonne on Friday, with open interest rising to 750,000 lots. SMM expects the contract to trade between US$1,910-1,950 per tonne today. As of Friday November 13, LME aluminium cash (bid) price stands at US$ 1918 per tonne, LME official...
NALCO now selling its aluminium ingot at INR1400/t higher with effect from November 13
National Aluminium Company Limited (NALCO) has further increased the prices of its aluminium ingot and aluminium product, although lesser than the previous week, with effect from Friday, November 13. Compared with the hike of INR 4,500 per tonne on November 4, NALCO has raised its aluminium ingot...
Vedanta’s aluminium wire rods & billets prices increase for the third time in a row by INR1500/t w.e.f. Nov 13
Vedanta has increased the prices of its aluminium product and aluminium ingot for the third time in a row, with effect from Friday, November 13. The last time Vedanta hiked its aluminium prices was on November 4. This week, the company has raised its aluminium wire rods price by INR 1,500 per tonne...
Hindalco expands its aluminium ingot price by INR2000/t after more than a week
Hindalco Industries Limited has increased the prices of its aluminium ingot and aluminium products after more than a week, with effect from Friday, November 13. The company's aluminium ingot price is now standing at INR 163,750 per tonne, registering a hike of INR 2,000 per tonne or 1.24 per cent...
RHB estimates Press Metal Aluminium to report an increase in earnings in the second half of 2020
RHB Research expects Press Metal Aluminium Holdings Bhd to deliver a year-over-year growth in core earnings in the second half of 2020 on higher aluminium prices. Average aluminium prices of averaging US$1,930 per tonne on the London Metal Exchange to fuel the company’s earnings prospects. "We...
LME aluminium closed lower at US$ 1904.5/t; SHFE aluminium rose 2.03%
LME complex rose for the most part on Friday morning. Aluminium added 0.55%. Benchmark aluminium price on London Metal Exchange dropped 0.03 per cent to US$ 1904.5 per tonne on Thursday, November 12, from US$ 1905 per tonne on Wednesday. As of Thursday November 12, LME aluminium cash (bid) price...
A00 aluminium ingot price in China stands RMB140/t higher to close the week above RMB15600/t
A00 aluminium ingot price has been continuing to hover above RMB 15,000 per tonne since the past ten days, and today, on November 13, the price has exceeded RMB 15,500 per tonne level. Growing by RMB 140 per tonne from RMB 15,490 per tonne on November 12, A00 aluminium ingot price has closed the...
Aluminium ingot prices in China rise for the fifth time in a row; Aluminium Alloy (A356) price up by RMB 150/t
SMM aluminium ingot price has increased for the fifth time in a row. The price stands at RMB 15490 per tonne on Thursday, 12 November 2020, representing an increase of RMB 140 per tonne. The price is expected to range at RMB 15470-15510 per tonne. In Foshan and Wuxi, the price has risen by RMB 160...
LME aluminium price climbed $25/t to settle at $1905/t after a plunge on the previous day; SHFE price surged to $2399/t
Three-month LME aluminium rose 0.31 per cent to close at US$ 1,917 per tonne on Wednesday, November 11, with open interest rising to 749,000 lots. It is expected to trade between US$ 1,890-1,940 per tonne today. Both LME aluminium cash (bid) price and LME official settlement price recorded a surge...
Three-month LME aluminium closed higher at US$1,911/t; SHFE aluminium added 0.27%
Three-month LME aluminium rose 0.47% to close at US$1,911 per tonne on Tuesday, with open interest remaining at 746,000 lots. SMM expects the contract to trade between US$1,880-1,940 per tonne today. As of Tuesday November 10, LME aluminium cash (bid) price stands at US$ 1880 per tonne, LME...
A00 aluminium ingot price soars by RMB170/t to stand at RMB15,350/t, Aluminium alloy (A356) price climbs by RMB200/t
A00 aluminium ingot price has soared by RMB 170 per tonne to stand at RMB 15,350 per tonne on Wednesday, November 11, marking the fourth consecutive day of rising, according to the Shanghai Metals Market data. The average prices are expected to range between RMB 15,330-15,370 per tonne, with spot...
Aluminium ingot price rises by RMB 20/t; Aluminium Alloy (A356) stands at RMB 15800/t
SMM aluminium ingot price has registered a hike for the three days in a row. The price stands at RMB 15180 per tonne on Tuesday, 10 November 2020, marking a growth of RMB 20 per tonne. The price is expected to range at RMB 15160-15200 per tonne. In Foshan and Wuxi, the price has increased by RMB 20...
LME aluminium price exceeds $1900/t surging by 1.14% over the weekend; SHFE slips by $6/t to $2288/t
Three-month LME aluminium rose 0.05 per cent to close at US$ 1,902 per tonne on Monday, with open interest falling to 746,000 lots. It is expected to trade between US$ 1,880-1,940 per tonne today. LME aluminium cash (bid) price and LME official settlement price continued to increase for the third...
LME aluminium closed higher at US$ 1891.50/t on Friday; SHFE aluminium added 0.37%
Nonferrous metals on the SHFE were mostly higher on Monday morning, and their counterparts on the LME also rose for the most part, as investors reacted to Democrat Joe Biden’s presidential election win, SMM reported. The LME aluminium added 0.45%. As of Friday November 6, LME aluminium cash (bid)...
A00 aluminium ingot price in China opens the week higher at RMB15,160/t; Aluminium fluoride price soars by RMB350/t
A00 aluminium ingot price in China has begun the week with a surge of RMB 70 per tonne to stand at RMB 15,160 per tonne, as of Monday, November 9, found the Shanghai Metals Market. The average prices are expected to range between RMB 15,140 per tonne and RMB 15,180 per tonne, with spot contract to...
