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H1’26 LME aluminium stocks dip 31.82%: Russian sanctions & Gulf crisis pack a double blow
Primary AL14 SEPT 2026

H1’26 LME aluminium stocks dip 31.82%: Russian sanctions & Gulf crisis pack a double blow

As we reflect on the Middle East crisis that commenced on February 28, 2026, and stretched into the second half of the year, it brings to mind the dramatic rise and fall of the London Metal Exchange (LME) aluminium price that reached four-year highs before cooling down. The skyrocketing prices...

Macro rate hike expectations pressure aluminium prices, while China's continued destocking underpins the market
Primary AL14 SEPT 2026

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
Primary AL12 SEPT 2026

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...

ADC12 consolidates on a strong note as costs rise and orders see marginal improvement
Recycled AL12 SEPT 2026

ADC12 consolidates on a strong note as costs rise and orders see marginal improvement

Aluminium scrap: This week, China's aluminium scrap market price centre edged up alongside primary aluminium. As of September 10, SMM A00 aluminium prices closed at RMB 24,560 per tonne, up RMB 210 per tonne from RMB 24,350 per tonne last Thursday. Domestic aluminium scrap prices followed with...

Macro rate hike expectations bring periodic pressure, while destocking in China provides solid bottom support
Primary AL11 SEPT 2026

Macro rate hike expectations bring periodic pressure, while destocking in China provides solid bottom support

Futures: The most-traded SHFE aluminium contract opened at RMB 24,310 per tonne in the night session on September 10, reached a high of RMB 24,310 per tonne and a low of RMB 24,075 per tonne, and closed at RMB 24,125 per tonne, down RMB 365 per tonne or 1.49 per cent from the previous close....

LME aluminium price eases 0.3% on September 10; stocks remain stable at 244,525/t
Primary AL11 SEPT 2026

LME aluminium price eases 0.3% on September 10; stocks remain stable at 244,525/t

The London Metal Exchange (LME) aluminium price graph contracted on September 10 across cash and contracts, with longer-dated contracts reporting nearly 1 per cent decline. The aluminium opening stocks, however, remained stable. The LME aluminium cash bid price shifted from USD 3,351.5 per tonne on...

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