Due in large part to changes in inventory levels and reasons related to the global economy, aluminium prices finished yesterday at 231.5, down 0.43%. Pressure on the market was exacerbated by LME inventories, which more than doubled in just one month, reaching 1.1 million tonnes. Bearish sentiment and fears over oversupply are reflected in the…
Short covering and worries about a lack of supply on the international market caused aluminium prices to jump by 1.07% yesterday, closing at 235.5. At a substantial discount of $62.44 per tonne to the three-month contract, the largest since August 2007, the London Metal Exchange (LME) cash aluminium contract was traded. The reason behind this…
Due to yesterday’s higher dollar, better-than-expected US job data, and inconsistent trade data from China, the country’s top metals consumer, aluminium slid 2.5% to 235.6. The US economy produced significantly more jobs last month than anticipated, according to data, which raised the dollar and suggested that the Federal Reserve would postpone starting its easing cycle…
Aluminum prices increased by 1.07% to reach 241.65 as a result of increased confidence over prospective rate cuts by central banks and their expected benefits for economic expansion. Gains were restrained, nevertheless, by worries about the market’s weak demand. An important intermediate component in the manufacturing of aluminum, alumina, has become scarce as a result…
China’s significant increase in imports of unwrought aluminium and related products caused aluminium prices to drop by 0.68% to end at 239.85. With a remarkable 72.1% year-over-year growth in April imports to 380,000 metric tonnes, the first four months of the year saw 1.49 million tonnes of imports, an 86.6% increase over the same period…
The significant mining company Vedanta (VEDL), a division of Vedanta Resources (VRL), with its headquarters in London, intends to raise Rs 8,500 crore through a variety of channels, such as rights issues in one or more tranches and public offers. In a stock exchange report, Vedanta stated that the Anil Agarwal-led company has also recommended…
Short-covering activity followed a recent decline in prices caused by a spike in stockpiles reported by the London Metal Exchange (LME) that led to a little uptick in aluminium yesterday, with the metal climbing by 0.54% to settle at 233.95. Data showed that LME warehouses were experiencing a major influx of aluminium, as stockpiles more…
The price of aluminium fell by 1.45%, closing at 230.85. The main cause of this decrease was a notable rise in the overall amount of aluminium stored in warehouses registered with the London Metal Exchange. Based on daily LME statistics, the accumulation of aluminium stockpiles surged by 88% to 903,850 metric tonnes, the largest level…
Aluminium prices saw a minor decrease of -0.59%, ending at 235.4, due to investors booking profits after previous advances spurred by supply fears due to sanctions on Russian metals. The actions taken by Washington and London to limit exchanges’ acceptance of aluminium produced in Russia had an additional effect on market dynamics. According to LME…
With a tighter cash-to-three-month discount of $1.23 per ton, a notable change from last Friday’s discount of $45.94 aluminum prices spiked by 1.04% yesterday, closing at 237.3. The decrease in LME aluminium stockpiles, which fell to 513,850 tons the lowest level since December 2023 due to recent withdrawals from Taiwan, Malaysia, and South Korea, was…
