SHFE aluminium closed at RMB 24,230 per tonne, edging up 0.02 per cent. The price was capped by MA5 (24,259) but remained above MA10 (24,207) and MA30 (24,088), with the mid-term bullish structure intact. On the MACD indicator, DIF stood at 92.18 and DEA at 118.60, forming a death cross above the zero axis, with the green bars expanding to -52.85, indicating strengthening bearish momentum. Trading volume expanded to 76,000 lots, reflecting widening bull-bear divergence. The core trading range for SHFE aluminium is suggested at 24,000-24,600. LME aluminium closed at USD 3,248.5 per tonne, edging down 0.05 per cent. The price broke below MA5 (3,264.1), MA10 (3,261.37), and MA30 (3,262.88), with short-term moving averages exerting pressure, though MA60 (3,227) still provided support. On the...
LME aluminium prices softened across key contracts on September 23 compared with the previous session, while opening stocks remained broadly stable. The sharpest movement was recorded in cancelled warrants, which declined by more than 20 per cent. The LME aluminium cash bid price stood at USD 3,239.5 per tonne on September 23, down from USD 3,240 per tonne on September 22, a decline of 0.02 per cent. The cash offer price fell to USD 3,240 per tonne from USD 3,242 per tonne, down 0.06 per cent. For the three-month contract, the bid price declined to USD 3,258 per tonne from USD 3,263.5 per tonne, marking a 0.17 per cent decrease. The offer price fell to USD 3,260 per tonne from USD 3,264 per tonne, down 0.12 per cent. The December 2027 aluminium bid price stood at USD 3,180 per tonne,...
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According to data revealed by the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), Iran’s aluminium ingot production grew by 2,834 tonnes, or 1 per cent, on an annual basis over the financial year ended March 19, 2024 (Iran’s calendar year 1402). As per the data, Iran produced 635,000 tonnes of aluminium ingot in FY2024 compared to 632,166 tonnes in FY2023. In the preceding year, Iran’s aluminium ingot production recorded an increase of 17.36 per cent Y-o-Y. In the past eleven months, Iran’s major aluminium producers, including South Aluminum Corporation (SALCO), Iranian Aluminum Company (IRALCO), Almahdi Aluminum Company, and Iran Alumina Company, collectively produced 582,200 tonnes of aluminium ingot. Hence, it can be calculated that these four...
On April 14, 2024, CME Group announced that it had suspended aluminium produced in Russia from its platform starting April 13, 2024. This decision follows new sanctions imposed by the United States and Britain on Russia due to the geopolitical crisis with Ukraine. On April 12, 2024, the US Treasury Department and the British government jointly prohibited the London Metal Exchange (LME), which has been in operation for 147 years, and the Chicago Mercantile Exchange (CME) from accepting any fresh Russian output of aluminium, copper, and nickel starting from April 13. The CME website displayed Russian aluminium brands that may have been delisted from the warrant, a title document signifying ownership for fulfilling contracts. The CME said, "Aluminium from these brands produced prior to April...
According to the Shanghai Metals Market data on Monday, April 15, the domestic A00 aluminium ingot price has grown for the fourth consecutive day by RMB 190 per tonne to reach RMB 20,750 per tonne, the highest in more than two years. The average prices are estimated to range between RMB 20,730 per tonne and RMB 20,770 per tonne, with spot contract to be traded at a discount price of RMB 80-40 per tonne. China’s A00 aluminium ingot price has been rising since March 28, albeit a fall for an intermittent day. Over a month, the price has soared by RMB 1,570 per tonne, and over a week, it has surged by RMB 640 per tonne. In tandem with the aluminium ingot price surge, aluminium alloy (A356) price has climbed up by RMB 200 per tonne over the weekend to stand at RMB 21,350 per tonne on April 15,...
Rio Tinto has announced the appointment of Bold Baatar as Chief Commercial Officer, succeeding Alf Barrios, who is set to retire. The Red Sea ship attacks have led to global shipping companies rerouting via the Cape of Good Hope, disrupting European automotive production reliant on Asian imports. Aluminium prices surged to a 14-month high, hitting $2,480.50 per tonne on the London Metal Exchange (LME), driven by robust investor confidence in the global economy. Vedanta Limited has recently increased its aluminium selling prices, marking a 6% surge since April. Turkey and Israel have announced trade barriers against each other, with Turkey imposing immediate restrictions on the export of 54 product types to Israel, including aluminium. The LME aluminium benchmark price grew by US$52 per...
The US and UK have implemented fresh limitations on trading Russian aluminium, copper, and nickel, causing ripples throughout global metal markets, as reported by Bloomberg. New regulations have been imposed, barring the delivery of fresh supplies from Russia to the London Metal Exchange (LME) and the Chicago Mercantile Exchange (CME). These restrictions encompass copper, nickel, and aluminium manufactured on or after April 13. The United States is also enforcing a ban on Russian imports of these three metals. Despite these measures, Russia is likely to be able to sell its metals, as the sanctions do not impede non-US individuals and entities from purchasing Russian copper, nickel, or aluminium. While the LME holds significant influence in setting global prices, most metal transactions...
Durham-based Architectural Glass and Aluminium Limited (ARGLA) has ceased trading and is heading into administration. Specialising in manufacturing architectural glass and aluminium for commercial clients, ARGLA faced unexpected losses on a significant contract and was embroiled in a legal dispute with one of its main contractors. Despite the directors' strenuous efforts to tackle the challenges, including a substantial working capital requirement, they could not secure additional financial support. This led to the unfortunate decision to cease trading. Gareth Harris and Lee Lockwood of RSM Restructuring Advisory LLP are poised to be appointed as joint administrators. Gareth Harris, partner at RSM and joint administrator, said, "Such a large drop in profit on two large contracts has...
The joint venture company Khanij Bidesh India Limited (KABIL), comprising National Aluminium Company Limited (NALCO), Hindustan Copper Limited (HCL), and Mineral Exploration and Consultancy Limited (MECL), has partnered with the Council of Scientific and Industrial Research-Institute of Minerals and Materials Technology (CSIR-IMMT). Under the auspices of the Ministry of Mines of the Government of India, this collaboration seeks to propel the nation towards greater self-reliance in critical mineral resources. Recently, at the NALCO Corporate Office, Bhubaneswar, a memorandum of understanding (MoU) was signed between KABIL and CSIR-IMMT. This MoU lays the foundation for mutual cooperation in the realms of technical and knowledge, particularly in the domain of critical minerals. KABIL will...
AlGalCo, a hydrogen energy startup that licenses innovations from Purdue University, has emerged as one of the top 10 finalists in the prestigious 16th annual Global Automotive & Mobility Innovation Challenge (GAMIC). The startup developed a technology that generates hydrogen from water and aluminium alloy. "The technology is simple: Users generate hydrogen by adding any type of water to a solid alloy comprised of over 90% common aluminum. Because the spent alloy can be recovered and recycled an indefinite number of times using any form of excess electricity — windmill or solar for example — its capabilities for energy storage are limitless," added Koehler. The event, set for April 15 during the Society of Automobile Engineers World Congress in Detroit, will showcase cutting-edge...
In a recent turn of events, the world's largest floating solar plant, nestled within the serene backwaters of Omkareshwar Dam, faced a formidable challenge. A powerful summer storm, with winds reaching up to 50kmph, inflicted damage upon a section of the operational plant. However, amidst adversity, the spirit of resilience prevails. As nations ferry toward sustainable development, the significance of solar energy cannot be understated. Solar plants represent a beacon of hope in our efforts to mitigate climate change and transition toward cleaner energy sources. Moreover, in the context of the aluminium industry's commitment to decarbonisation and sustainability, solar power plays a pivotal role in driving progress. Assessment and recovery: NHDC's swift response The Narmada Hydroelectric...
La Marzocco and Rimowa have joined forces to introduce the La Marzocco Rimowa Linea Mini espresso machine, marrying Italian and German design prowess. This collaboration blends La Marzocco's expertise in coffee-making with Rimowa's renowned anodised aluminium craftsmanship. Crafted in Florence, Italy, each Linea Mini undergoes 40 hours of meticulous handwork, showcasing Rimowa's signature grooved aluminium panels, hand-assembled at La Marzocco's Officine Fratelli Bambi workshop. The Linea Mini stands as a testament to the fusion of craftsmanship and innovation, reflecting the shared values of both brands. Guido Bernardinelli, CEO of La Marzocco, highlights the partnership's commitment to excellence, emphasising its dedication to aesthetic brilliance and product durability. Rimowa CEO...
On April 11, 2024, Gerald Group unveiled its North American trading centre, GT Commodities. It revealed that its Borrowing Base sublimit for low-carbon aluminium meets the criteria for a green sublimit, allowing for the issuance of green loans in accordance with Loan Market Association guidelines. This achievement comes after a rigorous evaluation of the LMA's green loan principles and other pertinent market standards. Gerald Group, established in 1962 in the United States and headquartered in the UK, is committed to fostering sustainable and responsible global trade and economic growth. As the world's most seasoned and sizable independent metals trading company, Gerald Group is entirely owned by its employees. It has earned a reputation as a dedicated and reliable partner for leading...
Japan aluminium premiums for the April-June quarter (Q2 2024) shipments are agreed upon at $145-148 per tonne, reported six sources directly involved in pricing talks. The figures are settled lower than the initial offerings of $145-155 per tonne but record a substantial growth of $61 to 64 per cent from $90 per tonne of premiums in the first quarter of the year. The significant uptick in Q2 premiums could be attributed to demand dynamics and tight supplies of aluminium in the domestic market. Despite port inventories exceeding 300,000 tonnes, supply constraints are becoming increasingly evident. In 2023, Japan’s aluminium imports were 26 per cent less year-on-year due to sluggish domestic demand, which has now led to supply constraints. Japan’s agreed premiums for quarterly primary...
Norway is poised to achieve a historic milestone as the number of battery electric vehicles (BEVs) on its roads is projected to surpass petrol cars by the end of 2024 or early 2025, marking a significant achievement for any nation, as per Reuters analysts. Generous incentives, partly fuelled by Norway's significant oil and gas wealth, have propelled this shift. However, analysts anticipate that it will be a few more years before Battery Electric Vehicles (BEVs) outnumber diesel vehicles in Norway. Norway, a contemporary nation abundant in energy resources, boasts a population of 5.5 million. It is one of the world's most prosperous countries, boasting a GDP per capita of USD 106,148. With income distribution relatively fair, everyone contributes to the consumer base. Forecasts suggest...
Coca-Cola and Marvel are expanding their epic partnership by introducing limited-edition packaging in aluminium cans and captivating storytelling in their latest venture, "Coca-Cola x Marvel: The Heroes." This exciting collaboration showcases custom illustrations of over 30 iconic characters spanning the Marvel Universe, from Ant-Man to Captain America, gracing Coca-Cola and Coca-Cola Zero Sugar bottles and aluminium cans. Exciting features included But the real magic lies in the scannable QR codes on each bottle and can. These codes unlock an Augmented Reality (AR) experience, bringing each hero or villain to life right in your living room. Imagine the thrill of seeing Iron Man's suit materialize before your eyes or the awe of witnessing Doctor Strange's mystical powers on your kitchen...
Eternia, India's pioneering brand renowned for its WiWA-tested aluminium doors and windows crafted from the revolutionary Hindalco-made Duranium alloy, proudly unveils its avant-garde experience store in the bustling city of Indore, Madhya Pradesh. With an unwavering commitment to excellence, Eternia sets its sights on a dynamic expansion strategy aimed at consolidating its market presence nationwide. An Experiential Paradigm: Focusing on retail The newly inaugurated Eternia store in Indore promises an immersive shopping experience meticulously designed to empower patrons to explore and engage with a diverse array of products before making their investment. The ceremonial ribbon-cutting was graced by esteemed dignitaries Ar. Abhishek Julka and Ar. Nitin M Ghule highlights the...
LME aluminium opened at US$2,463 per tonne in the previous trading day, with its high and low at US$2,482 per tonne and US$2,443 per tonne respectively before closing at US$2,457 per tonne, down US$14 per tonne or 0.57 per cent. The London Metal Exchange graph registered descending prices on April 11, with the LME aluminium cash bid and the LME aluminium official price losing US$19.50 per tonne or 0.8 per cent and US$18 per tonne or 0.74 per cent to close at US$2,409.50 per tonne and US$2,410.50 per tonne, respectively. The LME 3-month bid price and the LME 3-month offer price have marked a decrease of US$26 per tonne or 1.05 per cent and US$24 per tonne or 0.97 per cent, to settle at US$2,459 per tonne and US$2,460 per tonne. The LME 25-December bid price and the 25-December offer price...
China’s A00 aluminium ingot price gains RMB 260 per tonne to settle at RMB 20,560 per tonne, with average prices between RMB 20,540 per tonne and RMB 20,580 per tonne. The spot contract price may be traded at a discount price of RMB 20 per tonne to a premium price of RMB 20 per tonne. On M-o-M scale the domestic aluminium ingot price skyrocketed by RMB 1,430 per tonne from RMB 19,130 per tonne recorded on March 12. As of today, the prices have shown growth in the entire province. To begin with, the prices in Linyi and Gongyi have surged by RMB 310 per tonne and RMB 270 per tonne, settling at RMB 20,610 per tonne and RMB 20,520 per tonne. On the same day, the prices in Wuxi and Hangzhou have hiked by RMB 260 per tonne to peg at RMB 20,560 per tonne, followed by an ascend of RMB 240 per...
The Aluminium Stewardship Initiative has reportedly recertified two aluminium giants – Rio Tinto and Constellium. The former is a leading global mining group and the latter is a global manufacturer of aluminium rolled products, extruded products, and structural parts. Rio Tinto has achieved recertification to ASI Performance Standard V3 for aluminium smelting at its ISAL smelter facility in Iceland and Constellium has bagged recertification to ASI Chain of Custody Standard V2 for the extrusion plant in Singen, Germany and automotive structure production sites in Gottmadingen and Dahenfeld, Germany. All recertifications undertaken after June 1, 2023, are required to be against the 2022 standards. The companies have thus successfully transitioned these certifications to the updated 2022...
