Chinese aluminium producers are planning a major expansion overseas, with at least 15 million tonnes per annum (MTPA) of new primary smelting capacity announced or planned across Southeast Asia, the Middle East, Central Asia and Africa. The expansion could push the global aluminium market into surplus , although tighter scrutiny from Beijing and concerns over project profitability may limit how much capacity is built. Around 2.85 MTPA of the planned capacity is already under construction or being brought into operation. This represents 3.8 per cent of the current global annual smelting capacity of 73.78 million tonnes. The new projects, combined with recovering aluminium output in the Middle East, are expected to change the global supply balance. Morgan Stanley forecast in July that the...
As the global aluminium supply chain continues to swing between shifts and crunches, how has Europe fared on the production front in the 2026 year-to-date calendar? Substantially well, going by the output figures. Between January and September 2026, the European continent, including Russia, has produced a total of 5.56 million tonnes of primary aluminium, building a significant year-on-year growth chart. The nine-month growth chart Set against the same period of 2025, the first nine months of 2026 show a clear lift in output. From January to September 2026, Europe, including Russia, produced 5.56 million tonnes of primary aluminium, raising the annual growth rate by 5.69 per cent year-on-year (Y-o-Y) over the 5.26 million tonnes produced in 2025. Explore the production, demand and...
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Aluminium is an essential component of the global economy, and this week, the upstream sector witnessed some significant events. Top events like LME aluminium registered its first rise of the month on Tuesday, August 6, following two consecutive days of downfall by a total of US$61.50 per tonne. Vedanta recorded a 37 per cent rise in its net profit for Q1 FY2025, contributed by the aluminium business. Apart from this, a lot of new appointments like Ravi Paliwal joining as the new CEO of Ash Management at Vedanta Aluminium, Ricardo Fontes Santana joining Aluminium Bahrain as the new Chief Financial Officer (CFO), Louis Langlois was appointed as the new Senior Vice President of Treasury and Capital Markets at Alcoa Corporation. To know more about how the week went by, read below: On...
Mitsui & Co., a leading Japanese trading company, has strategically increased its stake in Nippon Amazon Aluminium (NAAC) as part of its forward-thinking strategy to expand its decarbonisation and metal business portfolio. This strategic move will significantly enhance Mitsui's access to low-carbon aluminium ingots produced in Brazil, potentially reshaping the aluminium industry. Mitsui's stake in NAAC, which holds a substantial interest in the Brazilian primary aluminium-producing company Aluminio Brasileiro (Albras), increased to 46 per cent from the previous 21 per cent. While the financial details of the transaction remain undisclosed, the move will boost Mitsui's offtake of Albras' aluminium ingots from 80,000 tonnes per year to 140,000 tonnes per year. NAAC was established in 1977...
In a rare joint statement, Catherine Cobden, President and CEO of the Canadian Steel Producers Association, and Jean Simard, President and CEO of the Aluminium Association of Canada, have raised concerns over the growing impact of Chinese overcapacity on Canadian markets. The two leaders highlighted the urgent need for decisive policy action in response to the flood of excess capacity, particularly from China, which they argue poses a significant threat to the Canadian steel and aluminium sectors. The statement follows recent consultations regarding potential policy measures to address Chinese overcapacity, especially within the electric vehicle (EV) supply chains. The joint statement states: "As the representatives of two major industries in Canada directly employing more than 31,000...
The previous trading day, LME aluminium opened at US$2,272 per tonne, hit a high of US$2,285 per tonne and a low of US$2,256 per tonne, and closed at US$2,284 per tonne, up US$11 per tonne, or 0.48 per cent. On Thursday, August 8, both LME aluminium cash bid price and LME aluminium official settlement price moved up by US$2 per tonne or 0.90 per cent to settle at US$2,204 per tonne and US$2,204.50 per tonne. As per the LME price graph, both 3-month bid price and 3-month offer price went down by US$4per tonne or 0.17 per cent and US$3 per tonne or 0.13 per cent to clock at US$2,258 per tonne and US$2,260 per tonne. December 25 bid price and December 25 offer price dipped by US$5 per tonne or 0.20 per cent to dock at US$2,413 per tonne and US$2,418 per tonne. LME aluminium opening stock...
On Wednesday, August 7, the three-month LME aluminum contract opened at US$2,297.50 per tonne and closed at US$2,273 per tonne, registering a decline of US$28 per tonne or 1.22 per cent. In the intervening period, the price reached a high of US$2,300 per tonne and a low of US$2,247.50 per tonne. After a substantial growth on the previous day, the LME aluminium cash bid price and LME aluminium official settlement price dipped by US$1 per tonne and US$2.50 per tonne to reach US$2,202 per tonne and US$2,202.50 per tonne. The 3-month bid price and 3-month offer price stood at US$2,262 per tonne and US$2,263 per tonne, down by US$5 per tonne from US$2,267 per tonne and US$2,268 per tonne. December-25 bid price and December-25 offer price also decreased by US$5 per tonne to settle at US$2,418...
Qatar Aluminium Manufacturing Company Q.P.S.C. (QAMCO), a 50 per cent joint venture partner in Qatar Aluminium Company (Qatalum), reported a net profit of QR237 million for the six-month period ending June 30 th , 2024. The earnings per share (EPS) stood at QR0.042. After a volatile 2023 and early 2024, the aluminium market began stabilising in the second quarter of 2024. Various factors contributed to the challenging supply-demand dynamics of primary aluminium, including tightened monetary policies, regional geopolitical tensions in the Red Sea, and weakened consumer demand due to high inflation and interest rates. Comparatively, QAMCO's net profit for H1 2024 was QR237 million, slightly down from QR240 million in H1 2023. The EPS also saw a marginal decline from QR0.043 in H1 2023 to...
India's imports of alloyed aluminium ingots soared by 60 per cent in the first half of 2024, reaching approximately 112,158 tonnes compared to 70,780 tonnes during the same period in 2023. In the first half of 2024, alloyed ingots constituted a significant portion of the country's aluminium semi-finished imports, accounting for 62 per cent of the total 196,482 tonnes. Reasons for the surge The Red Sea crisis, which began in October 2023 and escalated over time, led to a shipping crisis that severely disrupted global trade and supply chains. This situation particularly affected routes through the Suez Canal, a vital passageway that handles roughly 30 per cent of the global container trade. Consequently, trade volumes decreased significantly in early 2024. Ships were forced to reroute...
Aluminium Bahrain B.S.C., the world’s largest single-site smelter, announced on August 6 the appointment of Ricardo Fontes Santana as a new Chief Financial Officer (CFO). The company also said the appointment would be effective from August 15, 2024. Mr Ricardo will join Alba with a wealth of knowledge in the metals and mining industry gathered from over 25 years of global experience. He has recently been associated with Sohar Aluminium as CFO and has been on the team of non-executive directors. Mr Ricardo also served South32, ESSILOR, BHP Billiton, and Shell in Brazil, Australia, Singapore, The Netherlands, Portugal, and Oman. Khalid Al Rumaihi, Chairman of Alba’s Board of Directors, said: “We are delighted to welcome Ricardo to the Alba family. His deep-rooted expertise in the global...
On August 6, 2024, Alcoa Corporation announced a transition in its Investor Relations leadership, appointing Louis Langlois, Senior Vice President of Treasury and Capital Markets, effective September 1, 2024. Louis Langlois will assume responsibility for the Company’s investor relations and pension investment functions from Jim Dwyer, Vice President, Investor Relations and Pension Investments, who will retire on September 1 after more than 30 years of service. Langlois is currently senior vice president and treasurer. He will continue to report to Executive Vice President and Chief Financial Officer Molly Beerman. Molly Beerman said, “Louis will extend the strong relationships he currently has with our banks, advisors, and rating agencies to our investors and maintain the transparency and...
The previous trading day, LME aluminium opened at US$2,263.50 per tonne, reached a high of US$2,305 per tonne and a low of US$2,238 per tonne, and closed at US$2,301 per tonne, up US$39 per tonne or 1.72 per cent. The LME aluminium benchmark price registered its first rise of the month on Tuesday, August 6, following two consecutive days of downfall by a total of US$61.50 per tonne. According to the data shown by LME graph , the LME aluminium cash bid price increased by US$36.50 per tonne and LME aluminium official settlement price rose by US$38 per tonne to reach US$2,203 per tonne and US$2,205 per tonne, respectively. With the present hike, the LME aluminium benchmark price edged a rise of US$43.50 per tonne, as against US$2,161.50 per tonne. However, on a month-on-month basis, the...
On Tuesday, August 6, billionaire Anil Agarwal-led Vedanta Limited published its first quarter results ended June 30, 2024, emphasising increased net profit and revenue from operations, attributed to elevated metal prices. In Q1 FY2024-25, Vedanta generated a consolidated net profit of INR 3,606 crore, an increase of 36.59 per cent from INR 2,640 crore a year ago. The company's revenue from operations rose 5.6 per cent Y-o-Y to INR 35,239 crore against INR 33,342 crore. EBITDA also grew 47 per cent Y-o-Y on account of structural cost-saving initiatives across businesses, easing of input commodity inflation, and favourable output commodity prices. Vedanta's near-term goal is to achieve $10 billion EBITDA , of which aluminium is estimated to account for $4.2 billion, zinc and silver $2.7...
The previous trading day, LME aluminium opened at US$2,261 per tonne, reached a high of US$2,283 per tonne, a low of US$2,227 per tonne, and closed at US$2,262 per tonne, down US$1 per tonne, a decrease of 0.04 per cent. On Monday, August 5, both LME aluminium cash bid price and LME aluminium official settlement price nosedived by US$47.5 per tonne or 2.14 per cent to clock at US$2,166.50 per tonne and US$2,167 per tonne. 3-month bid price and 3-month offer price declined by US$46 per tonne or 2.02 per cent to dock at US$2,226 per tonne and US$2,226.50 per tonne. December 25 bid price and December 25 offer price dwindled by US$50 per tonne or 2.05 per cent and 2.04 per cent to stand at US$2,385 per tonne and US$2,390 per tonne. LME aluminium's opening stock was 921625 tonnes. Live...
The previous trading day, LME aluminium opened at US$2,279 per tonne, with a high of US$2,304 per tonne and a low of US$2,257 per tonne, and closed at US$2,263 per tonne, down US$10.5 per tonne, a decrease of 0.46 per cent. On Friday, August 2, both LME aluminium cash bid price and LME aluminium official settlement price dropped by US$14 per tonne or 0.62 per cent to settle at US$2,214 per tonne and US$2,214.50 per tonne. As per the LME price graph, 3-month bid price and 3-month offer price also slipped by US$14 per tonne or 0.61 per cent and US$14.5 per tonne or 0.63 per cent to halt at US$2,272 per tonne and US$2,272.50 per tonne. December 25 bid price and December 25 offer price descended by US$10 per tonne or 0.40 per cent to peg at US$2,435 per tonne and US$2,440 per tonne. LME...
In the first three months of the current Iranian calendar year, which began on March 20, Iran produced more than 169,000 tonnes of aluminium ingots. The Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) reported this significant production milestone. Between March 20 and June 20, the country’s four major aluminium producers—South Aluminium Corporation, Iranian Aluminium Company, Almahdi Aluminium Company, and Iran Alumina Company—collectively generated 169,141 tonnes of aluminium ingots, according to IMIDRO as quoted by the Islamic Republic News Agency (IRNA) on August 3, 2024. Specifically, these four companies produced nearly 166,986 tonnes of total aluminium ingots, reflecting a 1 per cent increase compared to the same period last year. In addition to...
According to a report on Friday, August 2, China has limited the usage of renewable energy for aluminium production. Shandong province, China's biggest aluminium producer, is allowed to account for 21 per cent of the total energy usage, while Inner Mongolia and Yunnan province are eligible to use up to 29 per cent and 70 per cent, respectively. This move follows a drought-like situation in Yunnan due to erratic rainfall that hampered the area's hydroelectric power supply. In November 2023, Yunnan primary aluminium smelters were asked to reduce power consumption, leading to a production capacity cut of more than 1.1 million tonnes. According to Kunming Power Exchange Centre, Yunnan's hydropower generation suffered a setback in 2023, as demonstrated in the graph below. Yunnan Power...
This week, notable developments have surfaced in the upstream aluminium sector, covering bauxite, alumina, and primary aluminium. To begin with, India has secured a significant global position as the second-largest aluminium producer. The rise in aluminium production indicates robust economic activity across industrial sectors like energy, infrastructure, building and construction, automotive, and machinery. On July 31, 2024, Vedanta Ltd. announced that it had obtained clearance from the BSE and NSE for its proposed demerger. This approval is a pivotal step in Vedanta's strategy to split into six independent, publicly listed entities, including those in the aluminium, oil, and gas sectors. Apart from this, following a month of unabated decline, the LME aluminium benchmark price witnessed...
The United States imports of aluminium crude metals and alloys in May 2024 reflected a decline of 18.18 per cent month-on-month to return to the import volume seen in March. Compared to a year ago, the United States aluminium crude metal and alloy imports in May plunged by 33.66 per cent. According to the USGS data, the United States aluminium crude metal and alloy imports in May 2024 stood at 270,000 tonnes, compared to 330,000 in April and 407,000 in May 2023. In two months of the second quarter, the United States imported 600,000 tonnes of aluminium crude metals and alloys. If this trend continues for one more month, the total imports for Q2 will still be below the 911,000 tonnes imported in the first quarter. The United States’ year-to-date imports totalled 1.51 million tonnes, down...
Baotou Aluminum has recently secured an international invention patent for an "aluminium electrolytic process adjustment method" and has obtained an invention patent authorisation certificate in Nigeria, marking the company's first foreign invention patent authorisation. This patented method involves predicting the operational trends of the electrolytic cell by analysing voltage deviation and voltage noise deviation values. By doing so, it allows for the implementation of control measures to adjust the electrolytic cell pre-emptively, thereby preventing significant fluctuations. The method focuses on controlling the working voltage, aluminium fluoride feeding conditions, and aluminium output tasks. This approach enhances the electrolytic cell's operational efficiency while ensuring swift...
