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Destocking logic continues to materialise, macro pressure caps aluminium price upside
18 Jun 20269MINS
Primary AL
Futures: The most-traded SHFE aluminium contract opened at RMB 23,900 per tonne in the night session on June 17, with the highest price at RMB 23,950 per tonne, the lowest at RMB 23,860 per tonne, and finally closed at RMB 23,940 per tonne, up 0.25 per cent from the prior close. During this period, prices rebounded from lows to repair and formed a small bullish candlestick, under pressure near the 5-period moving average at 23,920.11, while still trading below all medium and long-term moving ...
India: Imported aluminium scrap prices soften w-o-w tracking LME aluminium decline
17 Jun 20263MINS
Recycled AL
India's imported aluminium scrap prices declined sharply w-o-w, tracking continued weakness in LME aluminium prices and subdued buying activity. According to BigMint's latest assessment for CFR Nhava Sheva deliveries, UK-origin zorba 95-5 scrap prices declined by USD 60 per tonne w-o-w to USD 2,965 per tonne from USD 3,025 per tonne previously. Meanwhile, US-origin tense 6-7 per cent scrap prices decreased by USD 55 per tonne w-o-w to USD 2,730 per tonne from USD 2,785 per tonne last week. L ...

17 Jun 20262MINS
Primary AL
China's primary aluminium output rose by 1.7 per cent on year to 3.89 million tonnes in May, according to the latest data released on June 16 by the country's National Bureau of Statistics (NBS). May's output marked a 0.5 per cent uptick from the previous month, Mysteel Global's calculation based on the NBS data showed. On a per-day basis, national primary aluminium output averaged 125,484 tonnes last month, up by 1.6 per cent from a year earlier but down by 2.7 per cent from April, Mysteel ...
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