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In the US market, Aluminium Ingot Price witnessed an upsurge amidst the fears of recession during the third quarter of 2022. According to market participants, gliding energy costs now significantly impact aluminium smelters more than ever before. As a result of the ripple effect, the aluminium smelters raise their production costs, affecting the Aluminium prices. Aluminium prices, on the other hand, rose earlier in the session due to LME production curtailment amid rising energy costs but succumbed later to macroeconomic pressures as weak growth means lower demand for base metals used in many
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Aluminium Ingot Price Trend and Forecast In the US market, Aluminium Ingot price witnessed an upsurge amidst the fears of recession during the third quarter of 2022. According to market participants, gliding energy costs now significantly impact aluminium smelters more than ever before. As a result of the ripple effect, the aluminium smelters raise their production costs, affecting the Aluminium prices. Aluminium prices, on the other hand, rose earlier in the session due to LME production curtailment amid rising energy costs but succumbed later to macroeconomic pressures as weak growth means lower demand for base metals used in many industries. When the dollar is strong, metals traded in US dollars are more expensive to holders of other currencies, and rising interest rates and weak global demand have all weighed on industrial metal prices. As a ripple effect, the Aluminium Ingot (99.9%) prices for CFR Albama Port (USA) settled at 3820/MT. https://www.chemanalyst.com/Pricing-data/aluminium-ingot-1351
Aluminium ingot Pricing in the Chinese Market Aluminium ingot pricing in the Chinese market showed a mixed trend due to fluctuating demand and higher inventory levels. According to market participants, the supply of aluminium ingots is still increasing, while the most recent inventory statistics show that inventories of aluminium ingots have stopped falling, indicating the impact of the seasonal low in July. Furthermore, base metal prices were under severe pressure as increasingly hawkish central banks harmed the global outlook for construction and manufacturing activity. At the same time, Chinese smelters increased output as factories resumed operations with increased capacity following Covid lockdowns. Domestically, high temperatures combined with scarce rainfall weighed heavily on aluminium production in Sichuan, where almost all smelters suspended production activity, resulting in a loss of about 1 million mt. Traders are aware of the market's concerns about falling aluminium supply, which could push up aluminium prices, but in the long run, demand will remain weak, and aluminium prices will face downward pressure once production resumes in the region. Thus, the Aluminium Ingot (IC 20) discussion for Ex Shanghai (China) settled at USD 2749/MT. https://www.chemanalyst.com/Pricing-data/aluminium-ingot-1351
During the third quarter of 2022, The Aluminium Ingot Prices During the third quarter of 2022, the Aluminium Ingot prices surged owing to the bullish demand outlook in the European region. As per market players, the production activity fell in the European market during Q3 amidst skyrocketing energy costs. Overall, aluminium production has been limited recently, leading to a decline in supply. In the short term, traders should be aware of the market's concerns about falling aluminium supply, which may push up aluminium prices; however, demand will continue to be sluggish in the medium to long term, and aluminium prices will face downward pressure once production resumes in the future. In mid-August, Norsk Hydro announced its production suspension plans for an aluminium smelter. Market players cite that surging energy costs have induced temporary shutdowns of smelters in European regions, supporting the recent uptick in base metal prices. As a result, the Aluminium Ingot (99.9%) prices for FOB Hamburg (Germany) settled at USD 3658/MT. https://www.chemanalyst.com/Pricing-data/aluminium-ingot-1351
In the US market, Aluminium Ingot prices witnessed an upsurge amidst the fears of recession during the third quarter of 2022 In the US market, Aluminium Ingot prices witnessed an upsurge amidst the fears of recession during the third quarter of 2022. According to market participants, gliding energy costs now significantly impact aluminium smelters more than ever before. As a result of the ripple effect, the aluminium smelters raise their production costs, affecting the Aluminium prices Aluminium ingot prices in the Chinese market showed a mixed trend due to fluctuating demand and higher inventory levels. According to market participants, the supply of aluminium ingots is still increasing, while the most recent inventory statistics show that inventories of aluminium ingots have stopped falling, indicating the impact of the seasonal low in July.
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