SHFE aluminium closed at RMB 24,245 per tonne, edging up 0.02 per cent. The price stood above the MA10 (24,236) but was capped by the MA5 (24,386), still well above the MA30 (24,084) and MA60 (23,729.92). The medium-term bullish structure remained intact, while short-term moving average resistance was evident. On the MACD indicator, DIF stood at 102.44 and DEA at 125.85, with the high-level death cross persisting. The green bar narrowed to -46.80 (previous day -50.36), indicating slightly weakening bearish momentum. Trading volume shrank to 52,300 lots, reflecting a strong wait-and-see sentiment in the market. The suggested core trading range for SHFE aluminium is 24,000-24,600. LME aluminium closed at USD 3,266 per tonne, up 0.21 per cent. The price was slightly below the MA5 (3,275.6)...
A German-engineered aluminium dome has been set up at Ekta Nagar in Gujarat as part of preparations for the 72nd National Film Awards, with the prestigious ceremony being held outside New Delhi for the first time. The temporary high-tech structure has been installed in the Bus Bay area near the Statue of Unity and will provide a climate-controlled venue for around 1,000 guests attending the national ceremony. The Ministry of Information and Broadcasting said the dome is part of a specially created venue with the 182-metre Statue of Unity as its backdrop. More than 500 technicians, craftsmen and workers have been involved in building and preparing the venue, with work continuing in shifts ahead of the ceremony. To know the aluminium casting demand forecast in the construction sector,...
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The London Metal Exchange (LME) has experienced a dramatic surge in the wait time for aluminium deliveries, which has surged from zero to over five months following a significant influx of metal from Trafigura Group in May. Recent exchange data reveals that as of the end of May, the waiting period for aluminium at Istim Metals' warehouses in Port Klang, Malaysia, has extended to 159 days. This is a stark contrast to April when there was no queue. This development underscores the impact of substantial deliveries on the logistical dynamics within the LME. The recent queue at the Istim warehouses in Port Klang, Malaysia, marks the longest wait in the LME system since June 2021, when a 168-day delay occurred. This queue followed a substantial delivery last month, triggering a flurry of metal...
An innovative project near Nubbin Slough, spearheaded by Curt Cramer of NuQuatic Advanced Water Technologies, is utilising aluminium and copper to extract phosphorus from the water. About the process This process employs a galvanic reaction initiated by the electrical connection of aluminium and copper in water. This reaction releases a small amount of aluminium, which then reacts with the phosphorus, forming aluminium phosphate that precipitates out of the water. The resulting solids are subsequently removed and disposed of in a landfill. The NuQuatic process is covered by 59 U.S. and foreign patents and applications. The project at Nubbin Slough is the world's first and only full-scale galvanic phosphorus removal initiative. Galvanic cells, which operate without an external power...
In a notable shift within the global aluminium market, the share of available aluminium stocks of Russian origin in London Metal Exchange (LME) warehouses experienced a dramatic decline, dropping to 42 per cent in May'24 from a dominant 89 per cent in April. Concurrently, aluminium stocks of Indian origin surged to occupy 50 per cent of the stocks, a significant rise from the previous 9 per cent, according to the latest LME data released on June 10, 2024 and published by Reuters. This substantial redistribution in aluminium stock origins underscores the evolving dynamics of global metal trade, potentially influenced by geopolitical factors and shifting economic alliances. The marked decrease in Russian aluminium's presence could indicate broader market adjustments or regulatory impacts,...
On the previous trading day, LME aluminium opened at US$2,576 per tonne, reached a high of US$2,586.5 per tonne, a low of US$2,550.5 per tonne, and closed at US$2,582 per tonne, up US$6 per tonne, an increase of 0.23 per cent. On Monday, June 10, both LME aluminium cash bid price and LME aluminium official settlement price dwindled by US$63.5 per tonne or 2.46 per cent and US$63 per tonne or 2.44 per cent to clock at US$2,514.50 per tonne and US$2,515.50 per tonne. As per the LME price graph, both 3-month bid price and 3-month offer price contracted by US$54 per tonne or 2.05 per cent to dock at US$2,574 per tonne and US$2,575 per tonne. December 25 bid price and December 25 offer price descended by US$54 per tonne to peg at US$2,683 per tonne and uS$2,688 per tonne. LME aluminium opening...
According to the Shanghai Metals Market survey, China’s domestic A00 aluminium ingot price has plummeted by RMB 360 per tonne over the weekend to reach RMB 20,810 per tonne as of Tuesday, June 11. That brought the price week-on-week lower by 1.79 per cent from RMB 21,190 per tonne. Today, the average prices are estimated to range between RMB 20,790 per tonne and RMB 20,830 per tonne, with a spot contract to be traded at a discount of RMB 70-30 per tonne. The A00 aluminium ingot price fell over the weekend on mixed trading sentiment and a rise in dollar value. In Foshan, A00 aluminium ingot price has also plunged by RMB 360 per tonne to RMB 20,690 per tonne, followed by a downfall of RMB 340 per tonne in Hangzhou and Linyi to come in at RMB 20,830 per tonne and RMB 20,860 per tonne,...
Global mining and metal giant Rio Tinto has agreed to acquire Mitsubishi Corporation’s 11.65 per cent stake in Boyne Smelters Ltd (BSL), which owns and operates the Boyne Island aluminium smelter in Gladstone, Australia, in a strategic move to expand its operations. Upon completing this transaction and the recent agreement to acquire Sumitomo Chemical Company’s 2.46 per cent interest in BSL, Rio Tinto’s interest in BSL will increase to 73.5 per cent. The acquisition, which is for an undisclosed price, is subject to various conditions precedent, including approval from Australia’s Foreign Investment Review Board, and is expected to be finalised in the second half of 2024. Rio Tinto is committed to a collaborative approach and looks forward to continuing to work with its remaining BSL joint...
UAE-based Sobha Modular Industries, known for producing aluminium facades and bathroom pods, has recently opened a new manufacturing facility in Al Hamra, Ras Al Khaimah. His Highness Sheikh Saud bin Saqr Al Qasimi, Member of the UAE Supreme Council and Ruler of Ras Al Khaimah (RAK) inaugurated the new facility. Under the umbrella of the Sobha Group, Sobha Modular Industries implements cutting-edge AI-driven CNC machines and robotics across its vast 250,000-square-meter facility. The plant boasts a production capacity of 50 pods per day, with ambitious plans to double this output to 100 by year's end. Moreover, it churns out 1,800 square meters of aluminium products daily, with substantial enhancements slated for the foreseeable future. The facility is poised to be a significant...
Arconic Architectural Products contracted Fives, an industrial engineering group, to modernise its facilities due to increased energy costs and the carbon tax. Arconic, a leading manufacturer of prepainted aluminium for the construction industry, decided to invest in environmentally friendly technologies to reduce the energy consumption of its Merxheim plant in France. The modernisation project included replacing two old curing ovens and cooling sections to upgrade the existing coil coating line. ADEME, the French Agency for Ecological Transition, funded the project as part of the “France Relance” industrial decarbonisation plan. “We had the ambitious goal of finding a sustainable solution that would allow the plant to reduce its emissions and energy consumption. Our target was to reduce...
Under the dynamic leadership of Governor Mai Mala Buni, the Yobe State government has embarked on a mission to rejuvenate vital industries within the state. His recent announcement of the reactivation of key sectors such as the Sahel Aluminium Company, Yobe Flour and Feed Mills Company, and the Pre-stressed Concrete Pole Company, is a testament to his unwavering commitment to economic development. The revitalised industries are anticipated to enhance local production and generate employment opportunities. Moreover, the state has recently completed and inaugurated several significant markets: the Ibrahim Geidam Ultra Modern Market in Damaturu and Senator Ahmed I. Looking ahead, the Yobe State government has an ambitious vision for the future. The current projects in the pipeline include...
The year-end statistics of 2023, as reported by the United States Census Bureau and the US Geological Survey, revealed a significant strategic shift in the non-ferrous scrap export market, particularly aluminium, with a notable increase in buyers from China. Through 2023, the United States exported 33.6 per cent of its aluminium scrap production. Domestic furnaces melted 4.06 million tonnes of scrap, of which 2.06 million tonnes were sent by sea container or crossed the border to Canada or Mexico. Of the 2.06 million tonnes of scrap exported, China (including Hong Kong) received 212,000 tonnes, which accounted for 10 per cent of the exports. This figure equates to about 3.5 per cent of aluminium scrap collected in the US last year. The above data also demonstrates that China's aluminium...
The United States' domestic primary aluminium production in March 2024 recorded a month-on-month increase after two back-to-back months of decline in January and February. However, on a year-on-year calculation, the United States' primary aluminium production in March was 12.31 per cent less than 65,000 tonnes. According to the latest data revealed by the US Geological Survey, the United States produced 57,000 tonnes of primary aluminium in March 2024, which reflected an increase of 8,000 tonnes or 12.30 per cent in February 2024. It is to be noted here that despite the month-on-month increase in March 2024, primary aluminum production in the United States experienced a decline for the entire Q1 period when compared both quarter-on-quarter and year-on-year. The United States accumulated...
On May 23, a collaborative conference was held in Zhengzhou, focusing on Henan's advanced aluminium-based material industry chain scheduling and promotion. The meeting underscored the significance of advanced aluminium-based materials as a vital element of new materials for strategic emerging industries. It was reiterated that understanding the current development landscape necessitates seizing policy opportunities and maintaining confidence in growth, a task that requires the collective effort of all stakeholders. About the meeting The development of new quality productivity must be seamlessly integrated into the broader pattern of high-quality development within the aluminium industry. Efforts should be concentrated on enhancing upstream processes, stabilising midstream activities, and...
A 'Water-Positive' business is more than just a concept. It's a commitment to replenishing more water into freshwater sources than it withdraws. This commitment goes beyond mere water sustainability, which focuses on minimising usage to maintain the quality and availability of water. Many global corporations are now at the forefront of this initiative, with several multinational giants recently announcing their plans to achieve water positivity in the near future. Organizations like the Water Resilience Coalition (WRC) have been established to inspire business leaders worldwide to contribute to water positivity. Aluminium production requires substantial water resources at each stage, from bauxite extraction to refining and cooling processes. This demand is set against a backdrop of...
Ghana is a significant contender in the global bauxite production arena, boasting an impressive reserve estimated at 900 million tonnes. Yet, this wealth of natural resources still needs to be tapped mainly, missing out on significant economic opportunities. With strategic planning and investment, Ghana has the potential to transform its bauxite industry, catalysing industrial growth, creating jobs, and boosting the national economy. According to the Ghana Chamber of Mines, Ghana has maintained its status as Africa's leading gold producer and the 11th largest producer worldwide, producing four million ounces in 2023. Gold production is anticipated to range between 4.3 million and 4.5 million ounces, driven by increased output from both large and small-scale producers. Large-scale gold...
LME aluminium opened at US$2,633.50 per tonne, reached a high of US$2,673 per tonne and a low of US$2,628.50 per tonne, and closed at US$2,647.50 per tonne, up US$12.50 per tonne or 0.47 per cent. On Friday, June 7, LME aluminium cash bid and LME aluminium official settlement price decreased by US$8 per tonne and US$8.5 per tonne, respectively, to close the week at US$2,578 per tonne and US$2,578.50 per tonne. The LME aluminium benchmark price fell on mixed trade numbers and a rise in the US dollar. On the same day, 3-month bid price and 3-month offer price shrunk by US$15.5 per tonne and US$15 per tonne to settle at US$2,628 per tonne and US$2,629 per tonne. December-25 bid price and December-25 offer price stood at US$2,737 per tonne and US$2,742 per tonne, down by US$23 per tonne from...
Jean Simard is one of the most well-known and popular people in the global aluminium industry. Jean heads up the Canadian Aluminum Association. Following the recent news that the US had imposed tariffs on imports of aluminium from markets such as China, Jean contacted me to discuss the issue. I invited him to plan a few words for the article. Here is what he contributed, untouched, apart from a comma here or there. The view from the North With the United States and Mexico imposing tariffs on certain aluminium products, Canada's primary aluminium industry , exempt from those tariffs, stands in a unique position. With its privileged access to the North American market, this advantage is set to benefit the region. Canadian primary aluminium offers key characteristics for the North American...
The aluminium industry is intensifying its efforts to reduce carbon emissions, and recycling metal can revolutionise the market. According to the Managing Director of industry consulting firm Harbor Aluminum, the world is set to add 22 million tonnes of aluminium capacity from scrap over the next five years. Notably, China will spearhead this expansion, with projects expected to contribute approximately 15 million tonnes of new secondary capacity within the same timeframe. This surge underscores a significant shift towards sustainable practices in the aluminium sector, highlighting the critical role of recycled materials in meeting future demands while mitigating environmental impact. On June 5, 2024, the Managing Director said at North America’s largest aluminium conference, “Scrap is...
According to a report on Friday, June 7, Guinea will house its second major alumina refinery, which will be constructed by a subsidiary of Emirates Global Aluminium (EGA). The news came after two senior officials of Guinea's mines ministry told Reuters that a non-binding agreement was signed between Guinea and EGA's subsidiary company. The agreement, known as a Term Sheet, states that EGA's subsidiary Guinea Alumina Corporation (GAC) will build the 2 million tonnes capacity refinery in west Guinea by September 2026, initially producing 1.2 million tonnes annually. The signing was presided over by Djiba Diakité, Minister and Chief of Staff at the Office of the Presidency of the Republic, and Chairman of the Strategic Monitoring Committee for the Simandou project, at the Petit Palais of the...
