In the final three trading days before the National Day holiday, the South China spot market stayed soft: aluminium prices continued to edge lower, the SHFE aluminium backwardation structure strengthened, and premiums over the next-month and far-month contracts were actually elevated. Ahead of the holiday, the willingness to cash out at the high basis was strong, and amid ongoing destocking, discount-priced cargoes still dominated spot circulation; demand was largely subdued, with only localized bargain-hunting replenishment and quite limited buying interest. On the whole, however, the high spot premium for aluminium ingots in South China remained largely intact. As of September 30, the SMM A00 aluminium (Foshan) spot premium over the 2610 contract stood at RMB 260 per tonne, still within...
Hindalco Industries is moving to structured digital tenders for spot sales of metallurgical-grade alumina in a bid to improve transparency, broaden market participation and strengthen price discovery in the global alumina market. The company is partnering with Metalshub for the initiative through its subsidiary Utkal Alumina International. The move comes as the alumina market continues to lack the transparent, transaction-based pricing mechanism available for aluminium. Hindalco said only around 10 per cent of the 55–60 million tonnes of alumina traded globally each year in the third-party market is sold through spot transactions, even though those sales can influence benchmark prices for a much larger volume of long-term contracts. Hindalco moves alumina spot sales to digital bidding...
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A London-based designer Samuel Wilkinson and a Spanish furniture brand Diabla have jointly created an unconventionally designed aluminium stackable chair that will surely add oomph to any domestic or commercial space. The product, called TUBA, was recently unveiled during Milan Design Week 2023 at Solone del Mobile. The name TUBA justifies its composition of 19 aluminium tubes. Due to the application of a modern construction technique, the chair exposes no welding and therefore reflects an ultra-clean look. Fun, original, and energetic, it mirrors the true Diabla spirit. The chair features a very simple appearance but involves extensive research on the intelligent use of aluminium. TUBA’s construction includes two support tubes, 15 oversized curved cross bars, and two leg tubes, all well...
LME aluminium opened at US$2,320 per tonne on Thursday, with its high and low at US$2,334.5 per tonne and US$2,284 per tonne, respectively, before closing at US$2,295.5 per tonne, a drop of US$25.5 per tonne or 1.1 per cent. On May 4, Thursday, the LME aluminium cash bid price anchored at US$2,296 per tonne, with a fall of US$33 per tonne or 1.42 per cent and the LME aluminium official settlement price settled at US$2,297 per tonne, with a similar accounted plunge. The 3-month bid price witnessed a US$36 per tonne or 1.54 per cent drop to settle at US$2,306 per tonne, and the 3-month offer price shed US$35 per tonne or 1.49 per cent, resting at US$2,308 per tonne. December 24 bid price and December 24 offer price halted at US$2,483 per tonne and US$2,488 per tonne, with a slump of US$35...
On Friday, May 5, A00 aluminium ingot price in China slumped by RMB 150 per tonne to settle at RMB 18,360 per tonne, with the average prices standing between RMB 18,340 per tonne and RMB 18,380 per tonne. The spot contract price is expected to be traded at a discount price of RMB 10 per tonne to a premium price of RMB 30 per tonne. A significant decline of RMB 120 per tonne was also recorded W-o-W from RMB 18,480 per tonne on Friday, April 28. The A00 aluminium ingot prices have declined in all the major provinces except Shenyang, where the price has increased by RMB 10 per tonne to halt at RMB 18,540 per tonne. The aluminium ingot prices in Foshan and Chongqing have dwindled by RMB 170 per tonne and RMB 160 per tonne to score at RMB 18,460 per tonne and RMB 18,470 per tonne. On the same...
Bharat Aluminium Company Limited (BALCO), one of India’s most significant aluminium producers and a division of Vedanta Aluminium, has circulated a state-of-the-art technology known as T-Pulse Health, Safety, Security and Environment (HSSE) Monitoring System, which uses Artificial Intelligence (AI) to monitor workplace behaviour and warns against unprecedented on-site accidents. Installing the T-Pulse HSSE Monitoring System is another wise initiative BALCO took to encourage the use of high-end technology, augmenting the firm’s abilities. The system can gauge risk in daily operations through a well-integrated web of cameras, AI sensors, edge devices, and hovering drones. This solution will be critical in providing real-time data on prevailing activities within the workplace. This system...
Norsk Hydro announced the first quarter results of 2023 ended March 31, revealing a 4.11 per cent year-on-year rise in revenue from NOK 46,616 million to NOK 48,534 million, driven by the stable LME aluminium price starting the quarter at US$2,378 per tonne and ending at US$2,413 per tonne. But higher raw material costs and lower demand negatively affected the company’s adjusted EBITDA, resulting in a plunge of 33 per cent from NOK 11,165 million in 1QCY2022 to NOK 7,525 million 1QCY2023. However, on a quarter-on-quarter calculation, it increased by 4.75 per cent from NOK 7,184 million. Hydro’s adjusted EBITDA from its bauxite & alumina business slumped 66 per cent Y-o-Y from NOK 1,270 million to NOK 437 million, driven by the sluggish sales volume of alumina and the realized price of the...
Domestic pricing of aluminium alloy ingot ADC12 in India fell by INR 1,000 per tonne W-o-W to INR 200,000 per tonne. Although the present demand and supply situation seems modest, selling pressure in the local markets influences prices. Factors like higher import costs and limited transactions are causing prices to increase. It should also be highlighted that the manufacturing capacity still needs to be more utilized. Prices of imported UK-origin aluminium scrap (Zorba 95-5) remained high despite a significant drop of more than $100 per tonne on the London Metal Exchange. "Prices of 553 grade can increase by up to INR 209,000/t – 210,000/t with payment terms of approximately 45-50 days," said a trade source. "Keeping in mind current demand, silicon can be obtained at INR 206,000-207,000/t...
Award-winning Italian architect-headed firm Renzo Piano Building Workshop has accomplished leaving its first footprint in Turkey with the construction of the magnificent Istanbul Modern Museum. The use of aluminium in construction has somehow elevated the outer look of the museum, illuminating the surface with the sky's reflection. The Istanbul Modern Museum is planned across an area of 10,000 square metres on Karaköy waterfront, a place of historical significance in Istanbul where the Golden Horn waterways and Bosphorus unites. Renzo Piano is not only an astounding architect but is also a Senator of the Italian Republic. He has loads of important monuments to his name worldwide, like the Centre Georges Pompidou in Paris, The Shard in London, and the Whitney Museum of American Art in New...
On May 2, SIG, a UK-based flexible packaging company, announced its partnership with dairy company Hochwald. The cooperation will see the German business use its SIG Vita family-sized packaging for its new plant-based goods. According to SIG, sustainability is essential to its operations. As a result, the aluminium used is ASI (Aluminium Steward Initiative) certified. In response to increased demand for a greener and cleaner environment, many firms are embracing aluminium as a transitional material to a more sustainable future. Because of its high recyclability and lightweight, aluminium is a crucial component in a more circular, low-carbon economy. Also, the paperboard used in SIG Vita is derived from 100 per cent FSC-certified forests and other regulated sources. Hochwalds claims that...
Shandong Nanshan Aluminium, a China-based aluminium product manufacturer and distributor, is planning to build an electrolytic aluminium factory at its production base in the Galang Batang Special Economic Zone, Indonesia, with an investment of $878 million (RMB 6.07 billion). Electrolytic aluminium is mainly used for power supply. At the new factory, Nanshan Aluminium will produce aluminium ingots, primarily for the South Asian market and the Association of Southeast Asian Nations region. The plant will have an annual output capacity of 250,000 tonnes. Shandong Nanshan Aluminium is headquartered in Longkou City in north-east China and has nearly 18,000 employees worldwide. Its customers include multinationals like Apple, BMW, Boeing, China Commercial Aircraft Corporation, General Motors,...
On Wednesday, May 3, Egypt Aluminum Company (Egyptalum) announced that it booked a net profit (after tax) of EGP 3.916 billion during July 2022-March 2023 period. Interestingly, the company's net profit surpassed its annual target of 3.02 billion in just nine months, marking a surge of 131.94 per cent year-on-year from EGP 1.688 billion . Egypt's largest aluminium producer also posted that it generated revenue of EGP 14.751 billion in nine months - 37 per cent higher than EGP 10.762 billion during the corresponding period of FY2022. The report was shared in an unaudited financial income statement filed with the Egyptian Exchange (EGX). In the first half of FY2023, Egyptalum earned EGP 1.70 billion of net profit after tax compared to EGP 814.15 million during the same period of the...
It has been reported that Press Metal Aluminium Holdings Bhd is about to expand its extrusion capacity in its Klang plant at Selangor to suffice the rising demand for solar panels. Tan Sri Koon Poh Keong, the firm's chief executive officer, assured that Press Metal was hoping for an additional 30,000 tonnes per year capacity increase since this new expansion will only focus on the manufacturing of solar frames. The group has projected that the newly enhanced aluminium extrusion plant will be fully optimised by the second half of 2023. Press Metal's Klang extrusion plant currently possesses an annual capacity of 50,000 tonnes, whereas the company's second extrusion press in Foshan, Guangdong Province, China, flaunts an irreplaceable capacity of 160,000 tonnes yearly. At this moment, both...
Fédération Internationale de l’Automobile (FIA), the regulatory body governing the Formula 1 (F1) and other worldwide motorsports, has authorised Constellium’s Aheadd® CP1 aluminium alloy for use in F1 racing cars starting in the 2024 season. Under a recent collaboration between Velo3D, Inc., a leading metal additive manufacturing technology firm for mission-critical components, and PWR Advanced Cooling Technology, the CP1 aluminium alloy will be used in Sapphire printers. PWR Advanced Cooling Technology will utilise the alloy to create highly efficient, small, and lightweight heat exchangers for Formula 1 cars and several other high-performance components for its clients. Aheadd® CP1 is being approved for printing in 100-micron layers, in addition to the typical 50-micron layer thickness...
A00 aluminium ingot price has gained RMB 30 per tonne, officially closing at RMB 18,510 per tonne, as the Shanghai Metals Market recorded on May 4, Thursday. The average prices are expected to range between RMB 18,490 per tonne and RMB 18,530 per tonne, with spot contracts trading at discount prices of RMB 30 per tonne and RMB 10 per tonne. The aluminium price is on an upward trajectory after the long market holidays observed honouring Worker’s Day in China. The eight provinces in China have witnessed escalating prices today, with the aluminium price in Gongyi and Foshan heightening by RMB 30 per tonne to rest at RMB 18,430 per tonne and RMB 18,630 per tonne, respectively. In Tianjin, the aluminium price also spiked by RMB 30 per tonne, standing at RMB 18,560 per tonne, the same price as...
A preliminary agreement between the European Parliament and Council on a Carbon Border Adjustment Mechanism (CBAM) to combat carbon leakage would have implications for the aluminium trade. The provisional agreement of a transitional phase might be in place by October, but it still needs to be confirmed and approved by EU member states and the European Parliament. The CBAM is intended to strengthen the EU's Emission Trading System (ETS) and contribute to the bloc's aim of reducing carbon emissions by 55 per cent by 2030 and leading to net zero by 2050. CBAM is how the European Commission describes it “landmark tool to put a fair price on the carbon emitted during the production of carbon-intensive goods entering the EU and to encourage cleaner industrial production in non-EU countries”....
According to the latest report revealed by Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), Iran produced 225,942 tonnes of aluminium oxide, commonly known as alumina, in the past year 1401 (ended March 20, 2023). That reflected a drop of 2 per cent from the previous year despite a growing trend till the first nine months (March 21-December 21, 2022). As per the data shared by IMIDRO, Iran’s alumina output stood at 176,239 tonnes during March-December , reflecting a 1 per cent rise year-on-year from 175,284 tonnes. In the final quarter of the Iranian calendar year, Iran’s alumina production dwindled by 13.40 per cent quarter-on-quarter from 57,394 tonnes to 49,703 tonnes unlike the sequential rise in output in the third quarter by 1.50 per cent. In the...
Grupa Kęty S.A. has received ASI Performance Standard V2 (2017) Certification for its foundry and extrusion facility in Kęty, Poland, for producing billets and manufacturing aluminium profiles and components. With an annual manufacturing capacity of 90,000 tonnes, the firm is the largest Polish maker of aluminium profiles and components. The four-line foundry can manufacture up to 50,000 tonnes of billets per year from a feedstock, including aluminium scrap, totalling 31,000 tonnes in 2022. “We congratulate Grupa Kęty S.A. for achieving ASI Performance Standard Certification at its foundry and extrusion plant in Kęty, Poland. Using scrap in billet production requires less energy than using primary aluminium and further reduces the environmental impact of the production process. With a...
LME aluminium opened at US$2,355 per tonne on Wednesday. With its low and high at US$2,316.5 per tonne and US$2,360 per tonne before closing at US$2,322.5 per tonne, a drop of US$33 per tonne or 1.4 per cent. On Wednesday, May 3, both LME aluminium cash bid price and LME aluminium official settlement price descended by US$23.5 per tonne or 0.99 per cent and US$23 per tonne or 0.97 per cent to halt at US$2,329 per tonne and US$2,330 per tonne. 3-month bid price and 3-month offer price dipped by US$11 per tonne or 0.46 per cent and US$12 per tonne or 0.50 per cent to settle at US$2,342 per tonne and US$2,343 per tonne. December 24 bid price and December 24 offer price moved down by US$5 per tonne or 0.19 per cent to peg at US$2,518 per tonne and US$2,523 per tonne. LME aluminium opening...
The post-pandemic era has seen a sudden surge in the work-from-home culture, and to suffice the rising demands for fast-performing PCs, Dell has come up with its sustainable variant, the Latitude series. These models have been made while keeping the recyclability factor in mind. Moreover, the Latitude 9440 is being hailed as the topmost model, which consists of recycled materials and aluminium to keep the model's sustainability intact. Other models like the Latitude 5340, 5440 and 5540 can be categorised as business laptops with internally embedded Intel's Raptor Lake processors. Dell Latitude range can be soon availed via the company's leading distributor, Pinnacle. The devices offer optional features such as a headset jack, uSIM card tray, Contacted SmartCard reader, and a touch...
