Indonesia has launched the development of two aluminium plants at Weda Bay as part of new industrial projects worth billions of dollars. President Prabowo Subianto announced the projects on Thursday and said the government was committed to protecting investments. The four projects launched at the industrial park are worth around USD 3 billion. Investment in six other projects is expected to reach around USD 7 billion, Investment Minister Rosan Roeslani said at the event. Among the companies investing in the projects are PT Weda Bay Aluminium, PT Guang Ching Nickel Cobalt and PT Flatsolar Energy Indonesia, according to the Investment Ministry. Explore the production, demand and consumption forecasts of bauxite and alumina in our report: " Global Bauxite & Alumina Market Forecast to 2036:...
The London Metal Exchange (LME) aluminium price chart dropped over 1 per cent across the pricing and contract segments in the October 8 trading session, reporting declines over the October 7 close . Opening stocks remained stable and cancelled warrants reported a further rise. The LME aluminium cash bid and offer prices dropped by 1.35 per cent day-on-day. The bid contracted from USD 3,102 per tonne to USD 3,060 per tonne. The offer price moved from USD 3,102.5 per tonne to USD 3,060.5 per tonne. Explore- Most comprehensive and forward-looking industry-focused report — Global Bauxite & Alumina Market Forecast to 2036: Supply–Demand, Trade Flows & Price Outlook The LME aluminium three-month bid slumped from USD 3,112 per tonne to USD 3,068.5 per tonne, decreasing by 1.4 per cent. The offer...
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The Australian hydrous kaolin producer and exploration company Suvo Strategic Minerals has publicized its plan to secure a 26% stake in low-carbon high purity alumina (HPA) production. Through a private placement, the ASX-listed company will acquire a stake in Australian proprietary company Dingo, which intends to produce HPA from recycled aluminium feedstock. In order to complete the placement, Suvo will acquire 220, 000 shares at A$1 each. Aside from the placement, Dingo will grant Suvo a clear path to acquire up to 76% of the company's issued capital. As soon as the Stage 3 earn-in period ends, Suvo will have an exclusive opportunity to negotiate a share purchase acquisition of Dingo, subject to further regulatory approvals. A concept study is currently being conducted on Dingo's...
Vedanta Limited has further decreased its aluminium ingot and aluminium products prices, effective from Wednesday September 28, after the previous cut on September 24. The company’s aluminium ingot price has witnessed a decline of INR 3,000 per tonne to INR 199,750- 229,250 per tonne versus INR 202,750-232,250 per tonne on September 24. Vedanta’s aluminium wire rod price has also been reduced to INR 207,250- 212,750 per tonne, with effect from September 28, from INR 210,250- 217,750 per tonne on September 24. Aluminium billets price has come in at INR 208,750 per tonne as against INR 211,750 per tonne. Vedanta links its aluminium prices to the three-month futures of aluminium on the London Metal Exchange, which continued to decline since September 23. After three consecutive days of fall...
In response to rising energy prices, Europe's aluminium plants started shutting down, while Russia and China increased imports. The Iberian gas price cap, supported by the EU, is allegedly causing unfair competition, according to representatives of the French aluminium industry, who are also seeking anti-dumping actions against Spain. The agreement is temporary and will take effect until May 31, 2023. With the European Commission, Spain and Portugal agreed to exclude the Iberian Peninsula from the EU's power market regulations in the spring. The deal established a temporary mechanism limiting the gas price to an average of €50 per megawatt-hour until the end of May, slashing power prices for many Spanish and Portuguese consumers in half. The EU executive approved the measures, stating...
The share price of Press Metal Aluminium Holdings Bhd is being positively affected due to the instability in aluminium prices, due to the introduction of the hedging policy. Since both are inter-connected, this situation was first observed during the initial days of the pandemic by Affin Hwang Capital. In fact, Malaysian investment bank Affin Hwang Capital has also claimed that Press Metal is enjoying the boons of its hedging policy, which has significantly protected the company from price falls withstanding the continuously decreasing price of aluminium. The systemical price increase of aluminium was at the same time when Press Metal was witnessing capacity-driven earnings growth, therefore boosting the company's share prices. Despite the drop in aluminium prices at times, Affin Hwang...
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Aluminium Stewardship Initiative has certified Novelis Aluminum (Zhenjiang) Co., Ltd. against Performance Standard V2 (2017) certification for rolling activities at Jingkou Industrial Zone, Jiangsu Province, China. That makes the plant the second Novelis facility in China to receive Performance Standard certification and 19th globally. Novelis rolling plant in Jiangsu produces premium and strong structural plate products for aerospace and commercial applications. The independent, third-party audit of Novelis’ Zhenjiang plant was carried out by DNV Business Assurance Services UK Ltd. Fiona Solomon, Chief Executive Officer at ASI, said: “We sincerely congratulate Novelis on achieving Performance Standard Certification at its Zhenjiang rolling facility. Aluminium applications for the...
The International Organization of Aluminium Aerosol Container Manufacturers (AEROBAL) revealed that during the first half of 2022, global exports by its members had increased by 5.5 per cent, reaching a total of almost 3 billion units. According to the reports, the surge in demand was mainly contributed by the hairspray, home goods and medicines industry. The hairspray industry reported a growth of 34 per cent compared to 2021, home good hiked by 15 per cent and medicines ascended by 9 per cent. The volume-dominant deodorant market and the 1.2 per cent contribution from the perfume market accounted for almost 57 per cent of all deliveries. “The global energy crisis, logistics bottlenecks and the lack of skilled workers are amongst the biggest worries of international aluminium aerosol can...
Octave de Gaulle, the ENSCI graduate designer interested in space objects and interiors has wrapped a glass bottle in an aeronautical-grade aluminium shell for French champagne house Maison Mumm, to grant champagne to be consumed in space. Mumm Cordon Rouge Stellar champagne was created by Maison Mumm for Axiom Space's flights to be "the first champagne bottle and tasting experience designed for space travel and human spaceflight". In addition to being contained in a bottle designed by De Gaulle, who founded an agency specialising in space designs called SPADE, it will also be supported by CNES and Comat. The "high-tech" bottle is designed to counter space-specific issues, including how champagne acts in the non-existence of gravity, while still clinging to the regulations of Champagne...
Vedanta Aluminium, India’s largest and one of the world’s leading producers of aluminium, has reportedly won the title Made in India aluminium at ALUMINIUM 2022 in Düsseldorf, Germany. To express gratitude, Rahul Sharma, CEO of Vedanta Aluminium, said: “As India’s largest producer of aluminium, it is a matter of pride for us to showcase our manufacturing expertise and product portfolio ‘made in India for the world’. The forthcoming decades will see aluminium become the most-consumed metal in the world, given its ubiquity in current and potential clean technologies. We, at Vedanta Aluminium, are on a relentless mission to deliver sustained growth for our customers, customers and country through aluminium, the metal of the future. This will see us leverage the full potential of our assets,...
A South Korean plastic films maker, Youlchon Chemical Co., on September 28 signed a document confirming the supply of a primary battery component utilised heavily in electric vehicles. The US$1.04 billion supply deal was successfully drawn for the upcoming six years with the joint venture formed by U.S. General Motors Co. and LG Energy Solution Ltd, two of the most well-known brands in the modern world. Ultium Cells LLC, the LG and General Motors JV would accept highly-malleable aluminium pouch films used in lithium-ion battery pack casings from South-Korean Youlchon. The latter will provide the former with aluminium pouch films for the better part of 2023 all the way to 2028, as was reported by the company in a regulatory filing. This agreement is the first where a South Korean battery...
On Thursday, September 29, the average alumina spot price in China descended by RMB 17 per tonne to settle at RMB 2,852 per tonne. The prices in Shanxi and Guangxi dropped by RMB 20 per tonne to peg at RMB 2,795 per tonne and RMB 2,820 per tonne on the same day. In Henan, the price witnessed a cut of RMB 15 per tonne to stop at RMB 2,920 per tonne. As per the SMM data, in Shandong and Guizhou, the prices contracted by RMB 10 per tonne to record at RMB 2,835 per tonne and RMB 2,860 per tonne. On the other hand, the A00 aluminium ingot price ascended by RMB 180 per tonne to come in at RMB 18,140 per tonne, with the average prices ranging between RMB 18,120 per tonne and RMB 18,160 per tonne. The spot contract price is expected to be traded at a discount price of RMB 60 to RMB 20 per tonne....
LME aluminium opened at US$2,109 per tonne on Wednesday and closed at US$2,135 per tonne, an increase of US$33 per tonne or 1.57 per cent. LME aluminium cash bid price has decreased by US$26.50 per tonne or 1.26 per cent to settle at US$2,079 per tonne, and LME aluminium official settlement price has dipped by US$26 per tonne or 1.23 per cent to rest at US$2,080 per tonne on Wednesday, September 28. 3-month bid price has dropped by 1.22 per cent or US$26 per tonne to stand at US$2,102 per tonne, while the 3-month offer price has witnessed a US$27 per tonne or 1.27 per cent loss, closing at US$2,103 per tonne. December 23 bid price and December 23 offer price both plunged down by 0.76 per cent or US$17 per tonne, stopping at US$2,213 per tonne and US$2,218 per tonne, respectively. LME...
Aluminium Bahrain B.S.C. (Alba), the first aluminium smeleter in the Middle East, and KCC Chartering AS, a subsidiary of Klaveness Ship Holding AS, have jointly announced the signing of a four-year contract of affreightment (COA) for transporting alumina from Australia to Bahrain starting 2022. The contract continues to represent the long-lasting relationship between Alba and KCC. KCC is a world-famous combination carrier that can carry both wet and dry bulk cargoes. Through high utilisaton and efficiency, KCC’s carriers emit up to 40 per cent less carbon dioxide per transported tonne than any standard vessels. KCC's CEO, Engebret Dahm, commented: "We have enjoyed a strong business relationship with Alba on a continuous basis for more than thirty years and are proud to continue serving...
A state research organisation that created a low-cost casting-based neutron-absorbing aluminium composite material plate of up to two metres has transferred its technology to Konasol, a producer of titanium carbide alloy steels in South Korea. Konasol will use this technology to produce materials for spent nuclear fuel transport and storage containers. The term spent nuclear fuel refers to used nuclear fuel irradiated in a nuclear reactor. Korea Institute of Materials Science (KIMS) created inexpensive casting-based composite material plates because it was crucial to localise an aluminium composite material with neutron absorption capability. In dry casks and spent fuel storage racks, the criticality of fuel assemblies is avoided using neutron absorber materials. Neutron absorber...
KDB Capital, run by state lender Korea Development Bank has occupied an aluminium recycling company, DS Liquid, in collaboration with local private equity fund (PEF) Harvest Equity Partners in order to enhance its ESG portfolio. KDB, along with the newly established Harvest Equity firm, raised a fund of 130 billion won or US$90.31 million. This fund was then used to purchase a 100 per cent stake in DS Liquid, changing the ownership quotient of the enterprise. This entire investment was supported by other regional PEF and AVES partners. DS Liquid was founded in 2005 with the major motive of processing aluminium waste and recycling it as raw material. The company’s operating profit multiplied to 12.8 billion won in 2021 from 5.4 billion won collected the year before. The firm’s revenue also...
The United States aluminium plates, sheets, and bars exports to Canada totalled 67,100 tonnes in the second quarter of 2022 ended June 30, up by 7.88 per cent quarter-on-quarter from 62,200 tonnes, found the US Census Bureau data. In June 2022, the United States exported 20,100 tonnes of aluminium plates, sheets, and bars to Canada, which was a downfall of 14.83 per cent month-on-month. However, the exports in May remained restrained at 23,600 tonnes versus 23,400 tonnes in April. In the entire first half of 2022, the United States’ aluminium plates, sheets, and bars exports to Canada amounted to 129,000 tonnes, reflecting a fall of 17.31 per cent from 156,000 tonnes during the same period last year. In June 2022, the United States total aluminium plates, sheets, and bars exports came in...
Norsk Hydro has appointed Trond Olaf Christophersen, Executive Vice President for Corporate Development. As a member of the Corporate Management Board, Christophersen will report to President and CEO Hilde Merete Aasheim. Helena Nonka, who has decided to pursue opportunities outside Hydro, will be replaced by him on November 1. In the past, Christophersen held the position of Senior Vice President and Head of Recycling in Aluminium Metal. He has extensive experience in various roles within Hydro since joining the company in 1997. The roles include senior commercial leadership from Hydro Energy, Hydro Aluminium Metal, and several commercials, business development, and project roles from Hydro's previous oil and gas activities. His academic background includes a Master of Science from the...
Kaiser Aluminium recently faced a mishap at their Sherman plant in Texas, where a probable furnace explosion had caused a fire damaging instruments at the company's disposal. Due to the unexpected event, Franklin-based Kaiser Aluminium is now preparing for a production cut in making their patent soft alloy aluminium extrusions using scrap. The local fire department very skilfully got rid of the small fire, which took shape after a mild explosion, and reports claim there were no injuries at all. The company clearly stated: "We anticipate production will be disrupted, but it is too early to determine the scope of the damage to our other equipment [aside from the furnace] and the rest of the facility." Kaiser proudly owns a huge network of other facilities and is confident that many products...
Hindalco Industries Limited has reduced its aluminium ingot and aluminium products prices for the second time in a row, effective from Wednesday, September 28. The last cut the company’s ingot and products prices saw was on September 24 by INR 3,250 per tonne. On September 28, Hindalco has cut its aluminium ingot price by INR 3,000 per tonne to INR 197,500 per tonne versus INR 200,500 per tonne on the previous day. Hindalco’s aluminium wire rod price has also been reduced by INR 3,000 per tonne from INR 211,600 per tonne on September 24 to INR 208,600 per tonne on September 28. Aluminium billets price is no exception but seen a cut of the same amount to stand at INR 211,600 per tonne on September 28, compared to INR 214,600 per tonne on September 24. Hindalco Industries links its...
