
Asian aluminium premiums are facing more pressure ahead of Q4 talks. CRU’s Asia CIF aluminium premium is now USD 202 per tonne, well below the USD 395 per tonne Main Japanese Port (MJP) Q3 benchmark. MJP Q4 offers have also dropped sharply. They fell from USD 325 per tonne in early September to USD 245–260 per tonne as the new quarter approaches. This shows weaker sentiment in the market. Aluminium premiums are under pressure across Asia, especially in Korea, Malaysia and Taiwan. These markets are more exposed to spot price changes, so premiums can move quickly when supply or demand changes. 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 " Premiums...
India is moving to establish a formal market for mineral trading, with the Indian Bureau of Mines (IBM) inviting applications from eligible companies to set up new mineral exchanges by November 2. The exchanges can initially facilitate trading in iron, chromite, bauxite, limestone and manganese, either individually or in combination. Other minerals may subsequently be added with prior approval from IBM, subject to exclusions specified under the rules. The proposed platforms are intended to support trading in minerals, concentrates and processed forms, including metals, while creating a more transparent and efficient mechanism for price discovery and dissemination. Bauxite is among five minerals eligible for trading The move could provide bauxite with a formal exchange-based trading...
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This week the primary aluminium industry witnessed some prominent events. From top companies like Ma'aden, Nalco and Hydro announcing their fourth-quarter results to LME aluminium price hitting a 5-week low due to rising stockpiles in LME-approved warehouses dampened investor mood. As per the results, Ma'aden, the state-owned mining firm of Saudi Arabia with its headquarters in Riyadh, announced an increase in net profit of more than 87% for the entire year of 2022, boosted by increased sales and higher average prices. National Aluminium Company Ltd (Nalco), a state-owned integrated aluminium corporation in India, reported a net profit of INR 274 crore for Q3 FY 2022–2023 on February 10, 2022, an increase of 61% over the prior quarter. Apart from the financial results, another significant...

According to our sources, analysts from the metal industry have stated that Russia might restrict exports of critical metals like nickel and palladium if Washington imposes high tariffs on Russian aluminium imports. The Russian aluminium supply accounts for only a minor share of the US supplies. However, nickel is essential for the aerospace industry and electric vehicle batteries. Conversely, Palladium is a vital component for autocatalysts in gasoline-fuelled cars. According to Trade Data Monitor (TDM), around 11 per cent of the 92,624 tonnes of nickel imported by the US last year was imported from Russia, while Russian palladium shipments, at 20 tonnes, accounted for almost 35 per cent of US imports. The United States is planning to increase the import tax on Russian aluminium to 200...

Vedanta Limited has again reduced its aluminium ingot and aluminium products prices, with effect from Friday, February 17, bringing its aluminium ingot price to INR 223,750-254,250 per tonne. The price is down by INR 4,000 per tonne from INR 227,750-258,250 per tonne on February 14. Vedanta has also cut its aluminium wire rod price by INR 4,000 per tonne to sell it at INR 231,250-238,750 per tonne versus INR 235,250-242,750 per tonne on Tuesday, February 14. This marks the second cut in a week. The company’s aluminium billet price has come in at INR 232,750 per tonne, down by 1.7 per cent from INR 236,750 per tonne on February 14. Vedanta links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the Londom Metal Exchange, which shrank by US$49.50...

Ideal Aluminum, one of the leading producers of aluminium fences, gates, railing, and outdoor buildings, has appointed Toby Bostwick as the new Chief Executive Officer (CEO). With over 20 years of experience in the construction and building materials industries, Toby Bostwick was related to product management, innovation, sales leadership, and new business development. Before this, he had top executive positions with businesses in the building sector that were primarily involved in cladding, fencing, decking, and railing. He graduated from Purdue University with a Bachelor of Science in Organizational Leadership. Bostwick takes over for Michael Siegel and Doug Brady, who co-led the business for the previous 12 years. Siegel and Brady will continue connecting with Ideal as board members...

Hind Aluminium Industries Limited, a manufacturer of aluminium & alloy conductors and aluminium wire rods, announced its third quarter results ended December 31, FY2023, reporting a year-on-year plunge of 83.22 per cent in net sales from INR 1.49 crore and a quarter-on-quarter slump of 68.75 per cent from INR 0.80 crore to INR 0.27 crore. The company’s net profit for the December quarter was INR 0.99 crore, down by 50.75 per cent from INR 2.01 crore a quarter ago but up by 52.30 per cent from INR 0.65 crore a year earlier. EBITDA stood at INR 1.84 crore in Q3 FY23, significantly up by 6233.33% from Rs. 0.03 crore during Q3 FY2. EPS also increased over the year by 52.43 per cent from INR 1.03 crore to INR 1.57 crore in the December quarter of FY23 but decreased by 50.78 per cent from INR...

The largest manufacturer of aluminium in India, Vedanta Aluminium, has implemented Robotic Process Automation (RPA) in its commercial function to hyperautomate the whole process. Vedanta Aluminium's commercial function is a key function with substantial potential to create value for the firm, thanks to its large-scale plant operations, huge customer presence, and extensive supplier network. This project was carried out in conjunction with Crave Infotech, a rapidly expanding worldwide technology business with strong expertise in Industry 4.0, Digital Supply Chain, Quick-to-Deploy Intelligent Asset Management, Supply Chain Management, and Warehouse Management solutions. The implementation of RPA in the commercial function of the company will increase Vedanta Aluminium's Commercial Maturity...

National Aluminium Company Limited (NALCO) has again curtailed its aluminium products prices in less than a week from the previous cut. With effect from Thursday, February 16, NALCO’s aluminium wire rod price has been reduced by INR 5,300 per tonne or 2.24 per cent to INR 231,050 -235,400 per tonne. On last Saturday, February 11, the price had seen a cut of INR 4,300 per tonne to INR 231,850-235,350 per tonne. This indicates the fact that NALCO has accelerated the rate of price cut in line with the intensity of LME aluminium price fall. During February 10-15, the LME aluminium benchmark price fell by US$68 per tonne to close at U$2,367 per tonne. Like any other Indian aluminium giants, NALCO links its aluminium ingot and products prices to the three-month futures of aluminium on the...

On February 16, 2023, the Prime Minister of Guinea, Dr Bernard Goumou, was precisely in Koumbia to launch a significant bauxite project. On this other trip to the Boké region, Dr Bernard Goumou was accompanied by Moussa Magassouba, the Minister of Mines and Geology. The Prime Minister and mining minister launched the development phase of the Koumbia bauxite project in conjunction with local populations. As part of the Alliance Mining Commodities (AMC) project, it is estimated to cost one billion dollars. The Project is located in the Gaoual prefecture of the Boké region of the Republic of Guinea , West Africa. The Koumbia mine is located approximately 220 kilometres north of Conakry, Guinea's capital, and 130 kilometres north of the port of Kamsar. The Koumbia mining concession spans 728...

UACJ, the Japanese manufacturer of aluminium products and Toyo Seikan Group Holdings had concluded a business alliance agreement to collaboratively research strategies for advancing the horizontal recycling of aluminium cans. With this partnership, they aim to use the technology and expertise of both firms to produce and market aluminium cans with increased environmental value. Also, both businesses will think about working together on initiatives to encourage collecting and recycling old aluminium cans along the whole value chain to promote further "CAN to CAN" horizontal aluminium can recycling . Japanese beverage cans made of aluminium have a high recycling rate of 97 per cent. However, the most recent assessment revealed that fewer than 60 per cent of the can's body and lid are made...

According to a report on February 16, South32 is in talks with Eskom, a South African electricity public utility, to source nuclear power for its Hillside Aluminium. Graham Kerr, CEO of South32, said the company had been seeking nuclear power for its smelter to make the production sustainable because, in his view, Europe would only consume green aluminium in the future. He also said bringing Eskom to an agreement was critical. As per the report, South32 is mulling sourcing half of the total power produced by the 1800MW koeberg nuclear facilities in the Western Cape. Kerr stated South32 was willing to pay a premium price for nuclear energy supply because it noticed European customers were paying $10 per tonne premium for green aluminium and were likely to spend as much as $40 per tonne in...

Three-month LME aluminium opened at US$2,389 per tonne on Thursday, February 16, and closed at US$2,418 per tonne, an increase of US$33.50 per tonne or 1.4 per cent. On Thursday, February 16, both LME aluminium cash bid price and LME aluminium official settlement price extended fall for the second day by US$25.50 per tonne or 1.07 per cent from the previous day to total US$2,341 per tonne and US$2,341.50 per tonne, respectively. 3-month bid price and 3-month offer price shrank by US$11 per tonne or 0.46 per cent to peg at US$2,381 per tonne and US$2,382 per tonne. December 24 bid price and December 24 offer price dropped by US$5 per tonne to close at US$2,555 per tonne and US$2,560 per tonne, respectively. LME aluminium opening stock decreased 4,325 tonnes to settle at 597,825 tonnes....

On Friday, February 17, China’s A00 aluminium ingot price gained RMB 30 per tonne to stand at RMB 18,460 per tonne. However, on a W-o-W calculation, the aluminium ingot price has plunged by RMB 110 per tonne from RMB 18,570 per tonne recorded on February 10. The spot contract price as of today is expected to be traded at a discount price of RMB 90 per tonne to RMB 50 per tonne. The average prices will likely range between RMB 18,440 per tonne and RMB 18,480 per tonne. The price in Chongqing and Shenyang has grown by RMB 50 per tonne and RMB 40 per tonne, to stop at RMB 18,510 per tonne and RMB 18,490 per tonne. In Wuxi, the A00 aluminium ingot price has moved up by RMB 35 per tonne to score at RMB 18,455 per tonne. On the same day, the prices in Gongyi, Foshan and Tianjin increased by RMB...

India’s iconic aluminium producer and a subsidiary of Vedanta Aluminium Business, Bharat Aluminium Company Limited (BALCO), appointed Rajesh Kumar as its new Chief Executive Officer (CEO) and Whole Time Director (WTD). When it comes to operations, maintenance, project implementation, and efficient development in Tata Steel's Indian and Thai facilities, Rajesh Kumar has extensive industry experience spanning 36 years. He graduated from Banaras Hindu University with a B Tech in Mechanical Engineering (IIT BHU) and obtained his master's degree in business administration from XLRI, Jamshedpur, where he won a gold medal in finance (MBA). Rajesh Kumar, the new CEO of BALCO, has a wealth of experience in large-scale project execution, organizational excellence, and plant commissioning. He has...

On Thursday, February 16, China’s aluminium billet inventory slumped by 12,100 tonnes from 214,400 tonnes recorded the previous week. The inventory as of today settled at 202,300 tonnes. After earlier halting the increasing trend, there were two weeks of fall. Each of the five major markets saw a decline in inventory due to a significant outflow of goods from warehouses. Production of aluminium billets has essentially been restored to normal levels, and vast quantities of billets have flooded the market in east China, causing havoc with prices. The figure below provides further information on the current state of aluminium billet inventories in China: As per the SMM data, the inventories in Foshan and Huzhou have plunged by 9,700 tonnes and 1,000 tonnes to peg at 99,500 tonnes and 48,000...

According to the Shanghai Metals Market data, China’s social inventories of primary aluminium have extended W-o-W growth but at a slower rate than the previous week. SMM data shows the inventories have amounted to 1.22 million tonnes across eight major consumption areas, including SHFE warrants, registering an increase of 26,000 tonnes than a week ago and 177,000 tonnes a year earlier. It is to be noted here that comparing the inventory with Monday, February 13, it has dipped by 2,000 tonnes. Going ahead, China’s primary aluminium inventories are expected to see mild growth considering Yunnan aluminium smelters are still at risk of production cuts due to power shortages. To know the current status of the primary aluminium inventories across China in more detail, refer to the chart below:...

There is much to the mere word 'Aluminium'. From pins to smartphones, aluminium or the Metal of the Future can be found in countless products which are highly beneficial to mankind and in everyday use. Because of its low weight and anti-corrosive qualities, it is increasingly replacing iron and steel in today's advanced vehicles, contemporary structures, satellites, etc. Several phone manufacturers are making an effort to create compact and robust phones for the constantly expanding market of steroid-enhanced hardware capabilities. The weight and sturdiness of the frames become even more crucial as phone makers pack more RAM and precise cameras into today's smartphones. And to keep the smartphone lightweight along with the upgraded specifications, aluminium is considered one of the most...

On Wednesday, Vedanta Ltd. announced that it was selected as the preferred bidder for an Odisha bauxite block. Vedanta has been named the preferred bidder for the Sijimali Bauxite Block, located in the Rayagada and Kalahandi districts of Odisha, under the mineral block auction held by the Government of Odisha, the mining firm stated in an exchange filing. Given its size, location, and bauxite grade, the project is a strategic match for Vedanta , according to the business, which also noted that the block has an estimated 311 million tonnes of bauxite deposits. The districts of Rayagada and Kalahandi in the state of Odisha contain the Sijimali bauxite bock. Following the company's announcement that it has been selected as the preferred bidder for the Sijimali bauxite block, Vedanta saw a...

Fast Forward Zero, a climate and sustainability company, has launched its services to help businesses transform into net zero, circular and inclusive operating models. Empowering business transformations with real climate impact, Fast Forward Zero will also help investors and other business leaders build collaborative coalitions to shape better systems and solve complex problems. Jerome Lucaes, the company's CEO, leveraging over 25 years of experience, is working with a network of well-established experts and institutions to develop relevant and applicable solutions that inspire sustainable transformations to leverage unique competitive advantages. Jerome is one of the few business leaders with real experience and premium sustainability achievements that have been transformative for the...