Copper could climb towards USD 16,000 per tonne over the next six to 12 months, while aluminium may offer a shorter-term trading opportunity following its recent correction, according to Navneet Damani, senior group vice-president and head of research for commodities and currency. Speaking on BusinessLine’s Trending Commodity Picks programme, Damani said copper continued to benefit from supply constraints and demand from emerging industries, while aluminium’s price trajectory had been influenced by fluctuations in energy costs and changing supply conditions. Damani said aluminium had climbed from around USD 3,100 to USD 3,600 per tonne earlier in 2026, supported by increases in electricity, crude oil and coal prices. The metal subsequently corrected towards USD 3,300 per tonne, although...
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...
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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...
In July 2024, the global aluminium industry experienced a month of significant developments and milestones. Industry leaders celebrated substantial investments in sustainability, with major projects focused on enhancing recycling capacities and reducing carbon footprints. Companies like Speira and RUSAL announced record investments in green technologies, while Porsche's next-generation vehicles prominently featured Hydro REDUXA low-carbon aluminium. Additionally, advancements in industrial technologies, such as Talum's Aluminium 4.0 initiative , underscored the sector's commitment to innovation and environmental responsibility. In spite of a downward trend in aluminium prices on the LME and SHFE platforms, the month concluded with promising collaborations and strategies aimed at improving...
Ukraine's State Property Fund has announced an auction scheduled for August 6 to sell its 97.5458 per cent stake in JSC Zaporozhye Aluminium Plant. The auction will be conducted on the Prozorro.Sales electronic trading platform, with a starting price set at nearly UAH 151.9 million ($3.7 million). Bidders must submit their applications by August 5. The auction includes 607,446,012 shares and extensive property assets. The plant's balance sheet lists 1,497 real estate and infrastructure items covering 370,900 square meters, 291 vehicles and special equipment, and 25 land plots totalling 216 hectares. Some of the enterprise's real estate, measuring 6,756 square meters, is currently leased under eight agreements, some valid until September 1, 2065. The plant has accumulated significant debt,...
Data revealed by the International Aluminium Institute indicates a year-on-year increase in both North and South America's primary aluminium production during the first half of 2024. Even amid occasional declines in some months, primary aluminium output in North America rose by 4.35 per cent, while South America saw an increase of 4.74 per cent by the end of H1 2024. In North America, primary aluminium production in six months of 2024 amounted to 1.992 million tonnes versus 1.909 million tonnes during the corresponding period of the previous year. In South America, the output totalled 751,000 tonnes compared to 717,000 tonnes a year ago. Overview of quarter-wise output In June, North America's primary aluminium production stood at 325,000 tonnes, down by 3.85 per cent from 338,000 tonnes...
On July 31, 2024, Vedanta Ltd. announced it had received clearance from the leading stock exchanges, BSE and NSE, for its proposed demerger. The approval marks a crucial step in Vedanta's plan to split into six independent listed companies, including aluminium, oil, and gas. According to a regulatory filing by Vedanta, BSE and NSE issued letters on July 31, 2024, and July 30, 2024, stating they have "no objections/no adverse observations" regarding the proposed scheme. Following these clearances, the company is set to apply with the National Company Law Tribunal (NCLT). "The scheme remains subject to receipt of other applicable statutory and regulatory approvals, including inter alia from the National Company Law Tribunal and the respective shareholders and creditors, under applicable...
The previous trading day, LME aluminium opened at US$2,311 per tonne, reached a high of US$2,327.5 per tonne and a low of US$2,272.5 per tonne, and closed at US$2,273.5 per tonne, down US$41.5 per tonne, a decrease of 1.79 per cent. Following a growth the previous day , both LME aluminium cash bid price and LME aluminium official settlement price slumped by US$22 per tonne or 0.97 per cent and US$23.5 per tonne or 1.04 per cent. The prices as of August 1 (Tuesday) stood at US$2,228 per tonne and US$2,228.50 per tonne. The drop in prices can be attributed to weak demand and ample supply. In Yunnan, a major Chinese production hub, improved rainfall increased hydropower availability, enabling smelters to resume operations. This led to a 6.2 per cent annual increase in primary aluminium...
India has witnessed a continued increase in metals and minerals production during the first quarter of FY2024-25, following a record output level in FY2023-24, said the Ministry of Mines in a statement on Thursday, August 1. According to the data revealed by the Ministry of Mines, India’s primary aluminium production in the June quarter of FY2024-25 increased by 1.2 per cent year-on-year to 10.43 lakh tonnes from 10.28 lakh tonnes. With this hike, India has secured the significant global position as the second-largest producer of aluminium. The rise in aluminium production indicates robust economic activity across industrial sectors like energy, infrastructure, building and construction, automotive, and machinery. In 2023, India accounted for 6 per cent of global production, churning out...
Given the high demand for local suppliers of steel, aluminium and its alloys, the Ministry of Economy of Nuevo León and the Chain of Industry Producers in Mexico (CAPIM) are working to enhance the value chain. Nuevo León, officially the Free and Sovereign State of Nuevo León, is a state in northeastern Mexico. "Previously these commodities were not listed as the first 10 items of purchase search by large industries and now, in less than a month, they jumped to the third place of search priority," said Mendoza, president of CAPIM. The Government of Nuevo León has noted that the impact of nearshoring, combined with the new U.S. tariffs on over 500 products, has accelerated the search for domestic suppliers by major purchasing companies. Impact of tariffs on raw materials René Mendoza,...
On July 31, the LME aluminium three-month contract opened at US$2,234.50 per tonne, reached a high of US$2,324.50 per tonne and a low of US$2,229.50 per tonne, and closed at US$2,315 per tonne, up US$77 per tonne or 3.44 per cent. After a month-long relentless decline, LME aluminium cash bid price and LME aluminium official settlement price gained US$89 per tonne and US$90.50 per tonne, respectively, on July 31. The prices thus stood at US$2,250 per tonne and US$2,252 per tonne, buoyed by increased market liquidity after China lowered its deposit rates and Canada’s rate cut met expectations. To boost market confidence further, China has made some more systematic arrangements. On the same day, 3-month bid price and 3-month offer price also increased by US$70.50 per tonne and US$72 per...
The global mining and metal giant Rio Tinto has demonstrated impressive performance in aluminium and copper, compensating for declining iron ore earnings and increased labour costs in Australia. For the six months ending June 30, the company reported a profit after tax (PAT) of $US5.8 billion ($A8.9 billion), showing a slight increase from $US5.1 billion the previous year. Underlying EBITDA (earnings before interest, taxes, depreciation, and amortisation) rose 3 per cent to $US12.1 billion ($A18.5 billion), reflecting the company's strong operational performance. Rio Tinto Chief Executive Jakob Stausholm said, "Rio Tinto is both consistently profitable and growing. This is being driven by the disciplined investments we are making to strengthen our operations and progress major projects...
The previous trading day, LME aluminium opened at US$2,249.5 per tonne, hit a high of US$2,253 per tonne and a low of US$2,209.5 per tonne, and closed at US$2,238 per tonne, down US$9 per tonne, or 0.40 per cent. The downward trend in the LME aluminium price since early July continues unabated. As per the data yesterday (Tuesday, July 30), both the cash bid price and official settlement price plummeted by US$42 per tonne or 1.90 per cent to settle at US$2,161 per tonne and US$2,161.50 per tonne. As the world’s largest consumer of aluminium, China’s economic slowdown and disappointing demand have significantly impacted aluminium prices. Despite expectations of mild stimulus from Beijing, the anticipated uptick in spring activity has not materialized. On the same day, 3-month bid price and...
Egyptian Prime Minister Mostafa Madbouly met with Minister of Public Enterprise Sector Mohamed Shimi to review progress on industrial projects across the textile, aluminium, and automotive sectors. Shimi provided a detailed update on the initiatives within the Holding Company for Spinning, Weaving, and Ready-Made Garments. He announced that the company has streamlined its structure by reducing its subsidiaries from 31 to 9 and has created a dedicated sales and marketing subsidiary. This reorganisation is designed to improve the efficiency of the spinning and weaving industry. Additionally, the company is conducting trials on short-staple cotton cultivation to lower foreign currency expenditures, enhance cotton fibre quality, and boost yield per feddan. Aluminium in Egypt Regarding...
The previous trading day, LME aluminium opened at US$2,287 per tonne, reached a high of US$2,299 per tonne, a low of US$2,239.5 per tonne, and closed at US$2,247 per tonne, down US$34 per tonne, a decrease of 1.49 per cent. As per the LME data, aluminium prices on Monday stood at their lowest in almost 4-month amid growing concerns about demand in China, the top consumer. On Monday, July 29, both LME aluminium cash bid price and LME aluminium official settlement price declined by US$25.5 per tonne or 1.14 per cent to settle at US$2,203 per tonne and US$2,203.50 per tonne. As per the price graph, the LME aluminium benchmark price has been witnessed since the beginning of July. The Chinese government has opted not to implement targeted stimulus measures to counter the significant slowdown...
Emirates Global Aluminium, the largest industrial company in the United Arab Emirates outside oil and gas, welcomed for the summer training over 25 UAE National high school and university students considering careers in industry. EGA’s summer training programme has been running for more than two decades. It gives students first-hand experience of working in the industry and is particularly focused on students of science, technology, engineering, and mathematics. More than 500 young UAE Nationals have participated in EGA’s summer training programme since 2001, with many going on to pursue careers in EGA or other UAE industrial companies. Abdulnasser Bin Kalban, Chief Executive Officer of Emirates Global Aluminium, said, “EGA’s summer training programme is a great opportunity for young UAE...
China’s primary aluminium imports in June 2024 recorded a month-on-month decline of 23.22 per cent but a year-on-year rise of 35.61 per cent to 121,200 tonnes, found the Shanghai Metals Market survey. In May 2024, the import volume stood at 158,000 tonnes, down by 27.8 per cent from the previous month. Thus, the data represents a higher rate of decline in China’s primary aluminium imports during June 2024. China’s primary aluminium exports in June stood at approximately 7,000 tonnes, and thus the net import volume in the said month was 114,200 tonnes, up 102.5 per cent Y-o-Y, but down by 24.41 per cent M-o-M. From January to June 2024, China’s cumulative primary aluminium import volume was 1.219 million tonnes, up 151.1 per cent Y-o-Y. The total net import volume was 1.191 million tonnes...
According to the US Census Bureau survey, the United States' primary aluminium production demonstrated a slight change in monthly trend during May 2024, reflecting an increase of 2,000 tonnes or 3.64 per cent. However, on an annual basis, the output in May extended its declining movement by 8,000 tonnes or 12.31 per cent. As per the recently revealed data, the United States' primary aluminium output during May 2024 stood at 57,000 tonnes versus 55,000 tonnes a month ago and 65,000 tonnes a year earlier. The monthly increase of 2,000 tonnes in May led the output to rebound to the production level seen in March 2024. The average daily production in May was 1,840 tonnes, which was essentially unchanged from 1,850 tonnes in April 2024 but edged a decline of 11.96 per cent year-on-year from...
The previous trading day, LME aluminium opened at US$2,275 per tonne, hit a high of US$2,298 per tonne and a low of US$2,270 per tonne, and closed at US$2,281 per tonne, up US$3.5 per tonne, or 0.15 per cent. On Friday, July 26, both LME aluminium cash bid price and LME aluminium official settlement price moved up by US$10.5 per tonne or 0.47 per cent to settle at US$2,228.50 per tonne and US$2,229 per tonne. As per the LME data, 3-month bid price and 3-month offer price added US$13 per tonne or 0.57 per cent to clock at US$2,288 per tonne and US$2,289 per tonne. December 25 bid price and December 25 offer price ascended by US$17 per tonne or 0.69 per cent to dock at US$2,447 per tonne and US$2,452 per tonne. LME aluminium opening stock came in at 943675 tonnes. Live warrants and...
This week, the primary aluminium sector was under a havoc media spotlight from the entire upstream aluminium industry, featuring many crucial events and updates. Besides the global aluminium prices reaching almost a four-month low, what made several round-ups on the internet were Emirates Global Aluminium becoming the first in the world to digitise quality analysis system on LME and Tiwai Point Aluminium Smelter to cut power usage by 185 megawatts due to electricity constraint. This week, on July 25, the LME aluminium benchmark price closed at US$2,218.50 per tonne, reflecting a 5 per cent decline W-o-W and marking the lowest in almost the past four months. On the same day, China’s domestic A00 aluminium ingot price decreased by RMB 190 per tonne to settle at RMB 19,010 per tonne, but...
