Domestic ore prices showed no notable change last week, with inland domestic bauxite largely supplied through long-term contracts to ensure security of supply. However, the market widely expects supply of domestic ore in Shanxi to loosen, and some participants believe 2027 domestic mine supply will be better than this year--though actual progress still depends on local policy implementation. On the import side, confirmed November long-term import ore volumes rose from October, which should help lift Guinean shipment volumes to China somewhat. In addition, previously suspended small- and medium-sized mines are planning to resume shipments in November as freight rates retreat, and offers have already appeared in the market. Partial resumption at small per medium mines will add a sequential...
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...
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A lack of domestic bauxite mines means Mexico can't make enough aluminium domestically to meet demand. Aluminium is the world’s second-most-used industrial metal, second only to steel. Mexico’s long-running mining tradition dates back to colonial times, and despite the historically large (and continuing) importance of the mining industry and the fact that Mexico leads in the production of several metals and minerals. The alumina import of Mexico has remained even during 2017-19, as the total volume recorded was 91,495 tonnes and the revenue expenditure reflected was $116.42 million. The analyzed import volume for 2020 has been noted at 32,306 tonnes, while the expenditure might rise to $42.18 million. When the 2020 import volumes and revenue gets summed up with the last three years it...
Metro Mining published production and shipping results for the month of April. The company said this has been the best start to the year for both mining and shipping. Metro Mining produced 415,000 wet metric tonnes (WMT) of bauxite and shipped 245,000 wet metric tonnes (WMT) at the Bauxite Hills Mine in April. The company is on track to meet the production and shipping guidance of 900,000 WMT to 1.1 million WMT for June quarter. The strong April results are attributable to greater experience and continuity of workforce, recent upgrades to plant and equipment and favourable weather conditions, Metro Mining said. Metro Mining Managing Director and Chief Executive Officer, Simon Finnis, said, “This is a very pleasing start for 2020. We have had a seamless transition back into operations and...
Kempsey Showground is reportedly undergoing a renovation getting some new portable aluminium seating. The Central North Coast National Agricultural Society, one of 122 rural show societies nationally, is sharing $20 million worth of grants to deliver renovation projects to local showgrounds after receiving $58,159 in the latest AgShows grants. The $20 million grants are to be used by each successful show society nationally for a range of infrastructure works, from small-scale upgrades to major overhauls and new builds. "The Kempsey Show is a major drawcard for the town, and it was sadly cancelled this year due to COVID-19," Federal Member for Cowper, Pat Conaghan said. This grant will enable the society to give a facelift to the showgrounds, installing sturdy, portable seating, which will...
Novelis Inc., the world leader in aluminium rolling and recycling, announced fourth quarter and fiscal 2020 results. Net income stood at $63 million in Q4 FY 2020, down 39% from last year. For the full year, net income decreased by 3% to$420 million Excluding tax-effected special items, the company grew its fourth quarter net income by 18% to $153 million, and its full year net income by 26% to $590 million. The increase was due to higher Adjusted EBITDA and lower interest expense. "Our strategy to invest in our operations and our people has delivered four consecutive years of record financial results and an exceptionally strong balance sheet. It is this solid foundation, coupled with an unwavering commitment to our purpose of shaping a sustainable world together, that will help us safely...
On 7 th May’20 the Minister of Road Transport and Highways, Govt. of India, Nitin Gadkari stated that the "vehicle scrappage policy" will be finalised and implemented very soon to stimulate the Indian automobile sector. Gadkari said in a video conference with the members of SIAM (Society of Indian Automobile Manufacturers) Institute over the impact of COVID-19 on the automobile sector: "The scrapping policy will be finalised soon. It is going to boost the industry. It is going to reduce the production cost. Yesterday also, I discussed with the Secretary and we will make it as early as possible." The Finance Minister of India in February’20 said: “A policy for the scrapping of old vehicles is in the works and will be announced after concerned ministries fine-tune it.” The long time waiting...
According to Shanghai Metals Market, the A00 aluminium ingot price has recorded a steep decline of RMB 130 per tonne to stand at RMB 12,840 per tonne on Friday, May 8. This marks the second consecutive decline following incessant rise, with an intermittent restraint, ranging between RMB 12,510 per tonne and RMB 12,980 per tonne. Today, the average prices are expected to range between RMB 12,820 per tonne and RMB 12,860 per tonne, with spot contract to be traded at a premium price of RMB 90-130 per tonne. Foshan has seen the highest decline of RMB 230 per tonne to RMB 12,890 per tonne, followed by Wuxi, Chongqing, and Tianjin, where the price has plunged by RMB 150 per tonne to RMB 12,830 per tonne, RMB 12,890 per tonne, and RMB 12,880 per tonne, respectively. In Hangzhou and Gongyi, the...
The US dollar fell from two-week highs on Thursday, May 7. LME base metals extended their increase for the most part. LME aluminium advanced 0.64% and SHFE aluminium shed 0.52%. Three-month LME aluminium closed the day 0.64% higher at US$1,492 per tonne. LME aluminium is still under pressure from US$1,500 per tonne in the short term. As of Thursday, May 7, LME aluminium cash (bid) price stands at US$ 1450 per tonne, LME official settlement price stands at US$ 1450 per tonne; 3-months bid price stands at US$ 1486.50 per tonne, 3-months offer price is US$ 1486.50 per tonne; Dec 21 bid price stands at US$ 1613.50 per tonne, and Dec 21 offer price stands at US$ 1613.50 per tonne. LME aluminium 3-months Asian Reference Price is hovering at US$ 1482.21 per tonne. SHFE Aluminium Price Trend...
The United States and the United Kingdom initiated formal negotiations on a free trade agreement on 5 th May’20, assuring to work quickly to obtain a deal that could prevent the worst economic impacts of COVID-19. The discussions will be conducted virtually and include over 300 US and UK officials in nearly 30 negotiating groups. US Trade Representative Rob Lighthizer and UK Trade Minister Liz Truss are leading the efforts. On 5 th May’20, they issued a joint statement: "We will undertake negotiations at an accelerated pace and have committed the resources necessary to progress at a fast pace.” "A Free Trade Agreement would contribute to the long-term health of our economies, which is vitally important as we recover from the challenges posed by COVID-19.” The first round of talks began as...
Rio Tinto and The Royal Flying Doctor Service (RFDS) has entered into a new partnership that will help out the Bundaberg region of Queensland in becoming a training ground for aeromedical professionals from across Australia. Rio Tinto has assured $1.25 million to RFDS Queensland over five years, underlining the company’s commitment to the health and wellbeing of Queenslanders and to providing resources to combat the effects of the COVID-19 pandemic. The funding will not only enhance the remote delivery of primary health care and mental health services across the state, but it will also contribute to the construction of a world-class Aeromedical Retrieval Simulation Hub in Bundaberg. The hub will use virtual and augmented reality and high-fidelity immersive training scenarios to attract...
Fitch Ratings has demoted Russian-based aluminium company United company RUSAL Plc's (Rusal) Long-Term Issuer Default Rating (IDR) to 'B+' from 'BB-'. The agency has also downgraded Rusal Capital D.A.C.'s senior unsecured notes rating to 'B+' from 'BB-'. The Outlook on Long-Term IDR remains Stable. The moment Rusal entered the COVID-19 pandemic and that in return received a global downturn with high leverage that makes it more susceptible to external shocks. Its debt burden has been high since the purchase of the NN stake in 2008 without meaningful debt reduction over the last three years. The downgrade reflected the expectation of a further delay in deleveraging with funds from operations (FFO) gross and net leverage remaining materially above our previous negative sensitivities of 3.5x...
Car sales in China continued to inch higher month-on-month. Sales of automobile stood at 2 million units in April, an increase of 39.8 per cent from a month earlier. In March, automobiles sales in China recovered significantly from a month ago and stood at 1.43 million units, rising 361.1%. On a year-on-year basis, sales of automobile inched up 0.9 per cent, according to the flash estimate by the China Association of Automobile Manufacturers (CAAM) released Thursday. Sales of car are likely to stand at 5.67 million units for the first four months of 2020, a decrease of 32.1 per cent from the same period the year before. Sales had registered a drop of 42.4 per cent in the January-to-March period.
Aluminium France has reportedly organised and joined forces to import more than 1.2 million surgical masks and FFP2 for its members to provide them with necessary sanitary protection against the COVID19, and thus, encourage the resumption of business activities in the best possible conditions. This operation was primarily carried out with the help of the Eramet Group, which made available its sourcing centre located in China to allow a better supply of surgical masks and FFP2 for the entire sector. This helped Aluminium France to get connected with two Asian suppliers capable of producing and delivering masks within a few weeks. According to the report, the first set of masks has been already dispatched and distributed on French territory. More than 160 companies benefit from this...
According to the data shown by the General Administration of Customs, China’s exports of unwrought aluminium and aluminium products decreased in April by 11.4 per cent over the year to 441,000 tonnes. In April 2019, China’s exports were around 491,274 tonnes. In March 2020, China had exported 518,600 tonnes of unwrought aluminium and aluminium products, down 5 per cent from 544,530 tonnes during the same period last year. This means the year-on-year decline expanded in April. Month-on-month, the exports plunged by 15 per cent. In the first three months, China’s total exports of unwrought aluminium and aluminium products had come in at nearly 1.19 million tonnes, which in April grew to 1.63 million tonnes. Compared to the last year, China’s total exports in the first four months of the...
Aluminium wire in power transmission and distribution applications is still the preferred material today, aluminium conducts electricity safely. Utility companies use aluminium wire for electrical transmission in power grids as it has a cost and weight advantages over copper wires. Aluminium wire is also used for power wiring of some aeroplanes. The aluminium wire export market of France has been showcasing strong and steady during 2017-20. The export volume has been recorded 143,739 tonnes during 2017-19 and revenue generated stood $245.70 million. The projected export for 2020 has been analyzed at 44,431 tonnes and income to be generated might reach to $101.69, the highest figure in revenue generation within the last four years. When the 2020 export volume and revenue gets added with...
Canada’s exports of crude metal and alloys to the US fell by 3.97% or 6.000 tonnes year-on-year to 145,000tonnes in February 2020. On a month-on-month comparison, exports registered a decrease of 31.92% from 213,000 tonnes, according to the latest Mineral Industry Survey report from US Geological Survey. Canada exported 344,000 tonnes of crude metal and alloys to the US in the first two months of 2020, from 270,000 tonnes exported in the first two months of 2019. That was up 27.41% year-on-year. Canada’s exports of total aluminium (crude metal and alloys, aluminium semi-finished products, scrap) stood at 150,000 tonnes in February, a decrease of 23.08% year-on-year and 31.82% month-on-month. Aluminium exports amounted to 356,000 tonnes in the first two months of this year, a decrease of...
Rusal’s Mykolaiv alumina refinery in Ukraine said on Tuesday, May 5, that it could settle the dispute with Ukrainian customs service regarding access to bauxite supplies and avoided temporary suspension of production . The refinery, located near Ukraine’s Black Sea coastline, primarily relies on overseas bauxite and exports alumina from its production to Rusal’s aluminium smelters in Siberia. Meanwhile, the Black Sea customs authority had blocked the import of bauxite raw materials into Ukraine, requiring additional fees, which led to almost a critical decline in bauxite stocks at the refinery. The management of the refinery then addressed directly to the President of Ukraine Volodymyr Zelensky for support, saying that it might have to stop production temporarily if the bauxite reserves...
Aluminium ingots inventories in South China’s Guangdong province stood at 243,400 tonnes, as of April 30, down 191,400 tonnes or 44 per cent from a month earlier. Record-high shipments from warehouses and strong consumption amid low arrivals of stocks were the two primary reasons behind the dip in inventories. SMM data showed that around 282,700 tonnes of aluminium ingots were shipped from Guangdong warehouses in April, up 81.21 per cent month-on-month and 49.58 per cent year-on-year. This recorded the highest level over the past five years. Better-than-expected orders from downstream consumers and lower prices of ingots prompted the higher consumption of aluminium ingots. Meanwhile, arrivals of aluminium ingots plunged 65.06 per cent from a month ago to 91,300 tonnes in April, owing to...
Vedanta Ltd. said the company’s initiative to ensure safety and prevention measures to fight against COVID-19 have reached over 7 lakh people in Odisha. Vedanta’s Odisha operations have joined forces with the state, district and communities in the fight against pandemic. Two plants in Odisha are operational adhering to all COVID19 protocols laid down by the state and central governments. The plants are active with reduced workforce and resources. Vedanta is taking steps to prevent and mitigate the impact of COVID-19 with a focus on the safety and health of its employees and communities at large in, around and far beyond their plant areas. Mr. Rahul Sharma, CEO – Alumina Business said, “At Vedanta, our efforts are aligned to the singular vision of making our communities, the state and...
