Page 2 - Aluminium Prices

Global aluminium prices to stay firm on China closures, European demand

Closure of excess aluminium smelter capacities and a pick up in demand for the metal in the European markets would support higher prices in the rest of this fiscal.Aluminium prices on the London Metal Exchange (LME) are ruling at multi-year highs of $2100 per tonne. An industry outlook report by Care Ratings has predicted average aluminium prices to hover in the range of $1900-2100 in the remainder of FY18."The crackdown on old, polluting smelters by the China government will see four million tonnes of aluminium capacity going offline this winter. That means 10 per cent of the aluminium production capacity in China. The cut down in production will buoy demand and support prices for aluminium through this fiscal", said an analyst.China is the largest producer of primary aluminium with a share of 54 per cent. Aluminium has continued its bull run with global prices rising by 23 per cent to $1961 per tonne in April-September compared with $1596 in the corresponding period of FY17. ...

Weak fundamentals, China capacity cuts to boost aluminium prices: Nalco CMD

Reports indicate 3 Chinese provinces may cut 30% of aluminium smelting and 50% of alumina refining capacity

Aluminium up by 1% on global cues

Participants enlarged their positions, supported by a strong spot demand in the physical market

Aluminium gain by 0.4% on spot demand

Participants enlarged positions, supported by a strong spot demand in the physical market

Aluminium up by 0.4% on global trend

Besides, increased demand at domestic spot markets influenced prices

Aluminium up by 0.1% on rising demand

Traders enlarged positions, driven by pick up in demand at the spot market amid firm Asian cues