Switzerland is seeking critical minerals from Indonesia to support domestic manufacturing, including producers of medical devices such as artificial joints, according to Swiss Ambassador to Indonesia Konstantin Obolensky. Speaking to reporters in Jakarta, Obolensky said Swiss manufacturers were seeking to diversify their mineral supply sources and viewed Indonesia as a potential supplier of materials required by local industries. He said, “There are critical minerals and other materials that Indonesia produces which are important for the Swiss industry.” Explore the production, demand and consumption forecasts of bauxite and alumina in our report: " Global Bauxite & Alumina Market Forecast to 2036: Supply–Demand, Trade Flows & Price Outlook " Indonesia has significant reserves of several...
Workers at South32's Worsley Alumina refinery in Western Australia have begun a 48-hour stoppage, seeking greater security over their remuneration and working conditions ahead of Alcoa's planned acquisition of the company's aluminium assets for up to USD 5.6 billion. The industrial action involves members of the Electrical Trades Union (ETU) and the Australian Manufacturing Workers' Union (AMWU), with the ownership transition raising concerns over existing employment agreements and incentive payments. The stoppage began on November 10 and coincides with a scheduled shutdown at the refinery's main processing plant. Around 200 union members are employed at the Worsley operation, according to AMWU state secretary Steve McCartney, who said workers wanted their existing earnings protected...
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Satendra Singh, Joint Secretary, Govt. of India-Ministry of Mines on 12 th May’20 chaired a review meeting through Video Conferencing with officials of Jawaharlal Nehru Aluminium Research Development and Design Centre (JNARDDC) and National Aluminium Company Limited (NALCO) to discuss the ongoing research and development projects. Mr Singh directed both the institutions to co-operate each other to serve the demand of aluminium industry with the support of research and development. NALCO is the largest aluminium producer of the country and JNARDDC is the institute that provides state-of-the-art technology with their research to NALCO. A discussion was held on different ongoing and other project ideas in the pipeline with NALCO. Singh also reviewed the pilot projects which can be...
Rio Tinto is keeping a close watch on merger and acquisition (M&A) opportunities to diversify its portfolio in a bid to overcome market uncertainties caused by the COVID-19. The news came after Rio Tinto chief executive Jean-Sébastien Jacques said in a statement at a virtual presentation at Bank of America that expanding portfolio is now Rio's strategy to adapt to the post COVID-19 business environment. “We are keeping a watching brief on M&A. Right now, the market is finding it difficult to value companies and the Covid-19 recovery pathway is not clear. Rio Tinto will only transact if an opportunity creates value,” said Jean-Sébastien. According to him, the market recovery pattern from COVID-19 impact appears uncertain, while the market volatilities seem to continue for the next decade....
For manufacturing ASI aluminium coffee capsule, the Swiss brand Nespresso and Australian packaging company Amcor have reportedly received the Alufoil Trophy in the Resource Efficiency Category from the European Aluminium Foil Association. The award recognised the Nespresso’s and Amcor’s efforts towards the improvement of the sustainability of the product by using ASI-certified aluminium, meaning using the metal that is produced and sourced from mined or recycled source and through each step in the value chain as per ASI’s standards. On winning the award, Gerald Rebitzer, Sustainability Director for Amcor Flexibles, said: “Certification from ASI helps us to deliver more responsible packaging solutions for our customers. Amcor is proud to win this award with our valued partner Nespresso, as...
On 12 th May’20, Vedanta Resources stated that mining and metal tycoon Anil Agarwal plans to offer INR 16,200 crore in cash to take the Indian stock exchanges-listed Vedanta Ltd private. The London-based outfit Vedanta Resources which Anil Agarwal delisted in 2018, is offering INR 87.5 for a share of Vedanta Ltd to minority shareholders of the BSE/NSE-traded Company <iframe width="500" height="300" src="https://www.youtube.com/embed/HrZINbpvOBg" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe> The offer price is at a 2% discount to Vedanta Ltd’s on 12 th May’20 closing price of INR 89.30 on the BSE but represents a 10% premium to the stock’s last trading price on 11 th May’20. Vedanta Resources, along with other...
According to Shanghai Metals Market, the A00 aluminium ingot price has recorded a sharp fall of RMB 270 per tonne to RMB 12,770 per tonne on Wednesday, May 13. This marks the highest decline in A00 aluminium ingot price since April 2020. On April 2 and April 21, the primary aluminium ingot price had fallen by RMB 220 per tonne to come in at RMB 11,300 per tonne and by RMB 240 per tonne to RMB 12,260 per tonne, respectively. The average prices today are expected to range between RMB 12,750 per tonne and RMB 12,790 per tonne, with spot contract to be traded at a discount of premium price of RMB 10-30 per tonne. Gongyi has seen the highest decline today among all other major provinces in China. The A00 aluminium ingot price there has declined by RMB 320 per tonne to RMB 12,820 per tonne,...
The "US Department of Justice" is proposing a federal court to order Aditya Birla Hindalco-owned American company Novelis to divest its entire stakes in aluminium major Aleris due to the competitive concern with such an acquisition. Novelis with its headquartering in Atlanta produces flat-rolled aluminium products in three segments: automotive, beverage can and speciality products. Its revenues were approximately USD 12.3 billion for the fiscal year ending 31 st March’19. Novelis is a fully-owned subsidiary of Hindalco Industries Limited, an Indian company with its headquarter in Mumbai. Aleris was a Delaware corporation headquartered in Cleveland, Ohio, before its acquisition by Novelis. Aleris produces flat-rolled aluminium products to the automotive, aerospace, building and...
The US dollar fell on Tuesday as the US Federal Reserve started its long-anticipated program to buy corporate bonds and the exchange traded funds that track them, but declines were kept in check by growing fears of a second wave of infections. Three-month LME aluminium slipped on Tuesday, erasing 1.14 per cent to close at US$ 1,479.5 per tonne. It needs tangible signs of a revival in demand to stage a rally. LME aluminium is likely to move to US$ 1,470-1,500 per tonne today. As of Tuesday, May 12, both LME aluminium cash (bid) price and LME official settlement price declined from US$ 1454.5 per tonne to US$ 1443 per tonne. 3-months bid price and 3-months offer price also decreased from US$ 1490.5 per tonne to US$ 1482 per tonne. Dec 21 bid price and Dec 21 offer price hovered at US$ 1608...
The economy of the Czech Republic is a developed export-oriented social market economy based on services, manufacturing, and innovation that maintains a high-income welfare state and the European social model. The industry sector accounts for 37.5% of the economy. The principal industries are high tech engineering, electronics and machine-building, transportation equipment, etc. The Aluminium scrap import of the nation during 2017-19 remains enterprising, as the total import volume stood at 342,675 tonnes, while the expenditure remained at $356.20 million. The projected import volume for 2020 has been analysed at 131,782 tonnes and the expenditure might reach to $92.20 million. When the 2020 import volume and expenditure is added with the preceding three years it reflects 474,457 tonnes...
Mexico’s imports of total aluminium including scrap from the US stood at 50,200 tonnes in February 2020, a decrease of 12.54% from 57,400 tonnes in February 2019. On a month-on-month comparison, imports increased by 2.03% from January’s imports of 49,200 tonnes, as updated by the US Census Bureau. Aluminium imports amounted to 99,400 tonnes in the first two months of 2020, as compared to 121,000 tonnes in the first two month of 2019. This records a decrease of 17.85% year-on-year. Crude metal and alloys imports decreased by 4.66% year-on-year to 9,200 tonnes in February. Imports registered an increase of 55.67% month-on-month. Crude metal and alloys imports stood at 15,100 tonnes in January-February 2020, from 21,100 tonnes in January-February 2019. Imports of semi-finished products...
Aluminium Bahrain B.S.C (Alba), the world’s largest aluminium smelter outside China, has reportedly bagged International Safety Award with Merit – 2020 from British Safety Council. The award acknowledges Alba’s commitment to good health and safety management during 2019. Alba is one of the 250 global companies that has been awarded a Merit in the 2020 International Safety Awards. The International Safety Award recognises organisations from all around the world, which have demonstrated their commitments towards preventing workplace injuries and work-related ill-health. Commenting on the recognition received, Alba’s Chief Executive Officer Ali Al Baqali said: “Alba Safety culture is a reflection of the individual and collective efforts of our employees as well as contractors. We are pleased...
"American electric vehicle and clean energy company Tesla Inc." had temporarily stop production at its plant on the outskirts of Shanghai, China. The company informed the factory workers who were supposed to resume work after the five-day Labour holidays on last Wednesday, May 6, that their holiday was extended and they would return as soon as May 9. The news came after some people familiar with the matter reported on the condition of anonymity. The reason for such an abrupt halt in production was not very clear at that moment until a Chinese news site reported that it was because of component shortages. Tesla’s only car factory outside the United States was expected delays in receiving parts for its Model 3, while also facing problems with a crucial piece of manufacturing equipment....
Hindalco has announced the reopening of aluminium foil plant in Mouda, near Nagpur, in response to requests from pharmaceutical packaging companies. The pharmaceutical companies are facing an acute shortage of specialised packaging material for Covid treatment drugs. The aluminium foil manufactured in plant is being used for packing Chloroquine Phosphate tablets and Hydroxychloroquine sulphate tables and other critical drugs. Mouda facility, the largest producer of pharmaceutical foil in India, has been exempted from the nation-wide lockdown. Mr. Anantha Bhat, Plant Head, Mouda, said, “The Mouda plant is committed to supporting the nation in its fight against COVID-19. We have re-started plant operations to meet the demand for packaging of critical drugs for COVID treatment. We are...
The United States Geological Survey found no notable development in Saudi Arabia’s aluminium plates, sheets and bars exports to the US in February 2020. In January, Saudi Arabia’s aluminium semis exports to the US were 7,470 tonnes, while that in February were 7,450 tonnes. The exports in January were down month-on-month by 27.47 per cent, as the aluminium plates, sheets, and bars exports from Saudi Arabia to the US were 10,300 tonnes in December. In November also, the exports were 10,300 tonnes, meaning they remained flat in December. Saudi Arabia’s total aluminium plates, sheets and bars exports to the US in the first two months of 2020 stood at 14,900 tonnes, down 38.25 per cent from 20,600 tonnes in the previous two months. Year-on-year, Saudi Arabia’s aluminium semis exports to the...
Hydro has been selected as a finalist in several categories for the 2020 "S&P Global Platts Metals Awards". The awrard is hosted by S&P Global Platts, the leading provider of information, benchmark prices and analytics for the energy and commodities markets. “This is a great recognition of the work that’s being done across the company, both on a team level and individually. It’s encouraging to see that our efforts within sustainability and the systematic work to promote "Hydro CIRCAL" is being acknowledged by industry peers,” said Inger Sethov, EVP Communications and Public Affairs. The awards program recognizes exemplary accomplishments in 15 categories. The winners will be announced on June 30. Full short list of nominations: • Hilde Merete Aasheim – CEO of the year • Pål Kildemo –...
According to Shanghai Metals Market data, operating rates across China’s secondary aluminium industry in April stood at 47.08 per cent, down 0.22 percentage point from a month ago. In March, China’s secondary aluminium producers’ operating rates were 47.32 per cent after rebounding by 29.2 percentage points from a month earlier. Year-on-year, China’s April secondary aluminium operating rates stood down by 11.22 percentage points, whereas in March, the operating rates were down by 16.37 percentage points over the year. The persisting impact of COVID-19 kept domestic and overseas demand subdued, resulting in the downfall in operations at secondary aluminium smelters. Producers saw a limited increase in new orders after they fulfilled previous ones. This, together with an increase in...
"National Aluminium Co Ltd" has cut the prices of its aluminium ingots for the sixth time in a row. With effect from Saturday, May 9, the prices of ingots came in at INR 132,550-136,050 per tonne, down nearly 1.92% or INR 2,600 per tonne from INR 135,150 per tonne-INR 138,650 per tonne on May 1. With the latest cut, the price of aluminium billets now stands at INR 136,000 – 138,650 per tonne, down from INR 138,850 per tonne-INR 141,250 per tonne on May 1. The "Indian aluminium producers" generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The contract is down more than 19% so far in 2020 due to slower global demand following the "coronavirus outbreak". "Aluminium products" and alumina account for nearly two-thirds of NALCO's gross...
Following a jump of RMB 190 per tonne, the "A00 aluminium ingot price" has recorded a marginal rise today, on May 12, found the "Shanghai Metals Market". Data shows the primary aluminium ingot price has increased by RMB 10 per tonne to stand at RMB 13,040 per tonne on May 12. The average prices are expected to range between RMB 13,020 per tonne and RMB 13,060 per tonne, with spot contract to be traded at a discount and premium price of RMB 10 per tonne to RMB 30 per tonne. Wuxi and Linyi provinces in China have seen a rise of RMB 20 per tonne in "A00 aluminium ingot price today" to stand at RMB 13,030 per tonne and RMB 13,180 per tonne, respectively. In Shenyang and Chongqing, the price has increased by RMB 15 per tonne and RMB 10 per tonne to RMB 13,035 per tonne and RMB 13,060 per...
The US dollar index, which tracks the greenback against a basket of its peers, has returned above the 100-mark. LME base metals closed mostly higher on Monday. LME aluminium gained 0.3% and SHFE aluminium rose 0.8%. Three-month LME aluminium closed 0.3% higher at US$1,496.5 per tonne. Shanghai Metals Market expects the contract to move to US$1,480-1,510 per tonne. As of Monday, May 11, "LME aluminium cash (bid) price" stands at US$ 1454.50 per tonne, LME official settlement price stands at US$ 1454.50 per tonne; 3-months bid price stands at US$ 1490.50 per tonne, 3-months offer price is US$ 1490.50 per tonne; Dec 21 bid price stands at US$ 1616 per tonne, and Dec 21 offer price stands at US$ 1616 per tonne. The LME aluminium opening stock stood at 1352525 tonnes. Live Warrants totalled...
