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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Aluminium demand in North America, stemming from the automotive, aerospace, construction, and packaging industries, is undergoing an upward movement, fuelled by a concerted move towards sustainability by manufacturers. The aluminium industry in North America is categorised by product type and end-user sectors. Aluminium castings, primarily serving the transportation sector, lead in demand among all product types, followed by flat-rolled products supporting the packaging industry. According to AL Circle’s report “ Global Aluminium Industry Outlook 2024 ,” North America accounted for approximately 21.5 per cent of the global aluminium flat-rolled product use and 8.25 per cent of extrusion use in 2023. Demand analysis In the first quarter of 2024, North America, including the United States...
As a breakthrough achievement, the Talum, InovaIT, and Comland consortium has finished the ambitious two-year project Aluminij 4.0, which aims to revolutionise aluminium production. The project heralds a new era for Talum, integrating cutting-edge technologies such as the Industrial Internet of Things (IIoT), Robotics, Artificial Intelligence (AI), and Automation. This transformative initiative, which aligns closely with our strategic objective of achieving 'zero defect' production standards for castings, has seen the implementation of self-driving forklifts and the automation of production lines. These advancements have significantly enhanced the traceability of material flow, boosted productivity, and elevated product quality. Aluminij 4.0 marks a significant technological leap for...
On Wednesday, July 3, LME aluminum opened at US$2,516 per tonne, reached a high of US$2,561.50 per tonne, a low of US$2,514.50 per tonne, and closed at US$2,549.50 per tonne, up US$33.50 per tonne from the previous close, an increase of 1.33 per cent. LME aluminium cash bid price and LME aluminium official settlement price witnessed a drop for the second day in a row. The LME price graph indicates that both the prices slipped by US$2.50 per tonne on the said day to settle at US$2,486.50 per tonne and US$2,487 per tonne, respectively. However, despite the drop, the price stood week-on-week higher by US$43 per tonne or 1.76 per cent compared to US$2,444 per tonne. But on a month-on-month basis, the price edged a downfall of US$138 per tonne or 5.26 per cent from US$2,625 per tonne. In...
LME aluminium opened at US$2,517.5 per tonne in the previous trading day, hit a high of US$2,537 per tonne, a low of US$2,513 per tonne, and closed at US$2,516 per tonne, down US$1.5 per tonne from the previous day, a decrease of 0.06 per cent. On Tuesday, July 2, both LME aluminium cash bid price and LME aluminium official settlement price dipped by US$7 per tonne or 0.28 per cent to settle at US$2,489 per tonne and US$2,489.50 per tonne. The prices settled flat yesterday owing to signs of ample supply and muted demand. As per the LME data, both 3-month bid price and 3-month offer price also went down by US$2 per tonne or 0.07 per cent and US$1.5 per tonne or 0.05 per cent to clock at US$2,530 per tonne and US$2,531 per tonne. December 25 bid price and December 25 offer price climbed...
LME aluminium opened at US$2,510 per tonne in the previous trading day, with a high of US$2,547.5 per tonne and a low of US$2,510 per tonne, and closed at US$2,517.5 per tonne, flat compared to the previous trading day's closing price. On Monday, July 1, both LME aluminium cash bid price and LME aluminium official settlement price hiked by US$11 per tonne or 0.44 per cent to clock at US$2,496 per tonne and US$2,496.50 per tonne.As per the LME data, both 3-month bid price and 3-month offer price also moved up by US$7 per tonne or 0.27 per cent and US$6.5 per tonne or 0.25 per cent to peg at US$2,532 per tonne and US$2,532.50 per tonne. December 25 bid price and December 25 offer price stood at US$2,670 per tonne and US$2,675 per tonne after increasing by US$2 per tonne or 0.07 per cent. On...
Australasia’s largest aluminium smelter, Tomago Aluminium, has appointed Jérôme Dozol as its Chief Executive Officer (CEO) and General Manager to lead the company into its fifth decade, aiming to ensure a long and prosperous future. Dozol's career spans over 18 years with Rio Tinto, one of the stakeholders of Tomago Aluminium. In his most recent role, he served as General Manager of a Copper Smelter and Refinery in Salt Lake City, Utah, where he demonstrated his expertise in managing complex operations and enhancing efficiency. Dozol expressed his enthusiasm for joining Tomago Aluminium, a company renowned globally as one of the leading aluminium smelters. Jérôme Dozol said, "I am passionate about extending the life of industrial assets and tackling climate change. Tomago Aluminium has a...
In June 2024, the global aluminium industry saw slight price positivity on both the LME and SHFE platforms at the beginning of the month. However, these gains were short-lived, and prices soon declined again. This reminds us again that AL Circle's industry-focused report, "Global Aluminium Industry Outlook 2024" , revealed the Metals and Minerals Price Index of the World Bank witnessed a marginal decrease of 0.13 per cent in the fourth quarter of 2023, marking a continuation of the consistent declines observed since early 2022. This downturn is attributed to a deceleration in economic activity in significant global economies, leading to a subdued demand environment alongside ongoing recoveries in the supply of certain base metals. Projections indicate a 5 per cent decline in metal prices...
On Friday, June 28, LME aluminium cash bid price and LME aluminium official settlement price surged by US$27.50 per tonne and US$27 per tonne, respectively, marking the second consecutive day of rise. The LME graph shows the prices closed the week at US$2,485 per tonne and US$2,485.50 per tonne, which, however, indicated the benchmark price standing 1.35 per cent lower than US$2,452.50 per tonne. On the same day, 3-month bid price and 3-month offer price increased by US$23.50 per tonne, closing the week at US$2,525 per tonne and US$2,526 per tonne, respectively. December-25 bid price and December-25 offer price stood at US$2,668 per tonne and US$2,673 per tonne, mirroring the same growth of US$15 per tonne as the previous day. On June 28, LME aluminium opening stock totalled 1,026,925...
In addition to China and the Gulf Cooperation Council, the substantial increase in Africa’s primary aluminium production also bolstered the world’s output significantly in May 2024. According to the International Aluminium Institute’s survey, Africa’s primary aluminium production in May increased by 5.74 per cent month-on-month, exceeding January and March’s output levels. But in contrast, the output on an annual basis edged a decrease of about 5.15 per cent. According to IAI, Africa’s primary aluminium production in May 2024 stood at 129,000 tonnes, compared to 122,000 tonnes in April 2024 and 136,000 tonnes in May 2023. With about a 6 per cent monthly hike, Africa’s primary aluminium production in May emerged as the highest output in the past five months of this year. The daily...
Rio Tinto, a British-Australian multinational company and the world’s second largest metals and mining corporation, officially announced on Friday, June 28, that it would deploy carbon-free aluminium electrolysis tanks at a new plant near Arvida aluminium smelter in Quebec, Canada, leveraging ELYSIS technology invented by ground-breaking partnership between Alcoa and Rio Tinto. This move will allow the continued development of the new ELYSIS MD technology while enabling Rio Tinto to hire expertise for installing and operating the technology. The same technology successfully demonstrated at the ELYSIS Industrial Research and Development Center in Saguenay–Lac-Saint-Jean will be implemented at the plant, offering Rio Tinto a learning opportunity about the full industrialization of ELYSIS MD...
In a notable financial move, Century Aluminium Co. President and CEO Jesse E. Gary has sold a substantial portion of his company stock, as reported by Investing.com. On June 26, Gary offloaded 60,000 shares at an average price of $16.21 per share, resulting in a total transaction value of $972,600. The sale prices varied, ranging from $15.81 to $16.44, indicating diverse market conditions on the day of the sale. Despite this significant divestiture, Gary continues to hold a sizable stake in Century Aluminium, retaining 62,447 shares indirectly through a trust. Additionally, his total holdings are bolstered by unvested stock units granted under the company's Long-Term Incentive Plans, which remain unaffected by this recent transaction. Century Aluminium's CEO's recent sale has garnered...
In May 2024, India's imports of ingot grade aluminium products saw a significant increase, rising by 38 per cent M-o-M and 70 per cent compared to the same month the previous year, according to provisional data from BigMint. Specifically, imports of ingots reached 38,700 tonnes, making up 84 per cent of the total aluminium ingot imports. Significant growth in imports Image source - BigMint Billets contributed 3,900 tonnes, or 9 per cent of the total, while slabs accounted for 2,500 tonnes, representing 2 per cent of the total imports. Notably, Indian automobile die casters significantly boosted their imports of ADC12 ingots, which surged by approximately 80 per cent M-o-M in May, reaching 6,500 tonnes compared to 3,700 tonnes in April. The remaining 32,200 tonnes comprised other grades,...
The London Metal Exchange is considering licensing a warehouse in Hong Kong to enhance its services for clients in China, the world's largest metals market. At the metal exchange's annual Asia seminar in Hong Kong on June 27, Bonnie Chan, the Chief Executive Officer of Hong Kong Exchanges & Clearing Ltd. (which owns the LME), announced the commissioning of a comprehensive third-party study. This study will thoroughly assess the feasibility of establishing a warehouse in Hong Kong, ensuring that all potential factors are considered in the decision-making process. Hong Kong Exchanges & Clearing Ltd. (HKEX) has enhanced the holding company, providing LME and LME Clear ownership, underscoring the Group's strategic commitment to further developing its commodities business. Since Hong Kong...
On the previous trading day, LME aluminium opened at US$2,506.5 per tonne, reached a high of US$2,519.5 per tonne, a low of US$2,486 per tonne, and closed at US$2,496 per tonne, down US$16.54 per tonne, a decrease of 0.66 per cent. After witnessing fall for the past two days, yesterday (Thursday, June 27) both LME aluminium cash bid price and LME aluminium official settlement price hiked by US$14 per tonne or 0.57 per cent and US$14.5 per tonne or 0.59 per cent to settle at US$2,457.50 per tonne and US$2,458.50 per tonne. 3-month bid price and 3-month offer price added US$10 per tonne or 0.40 per cent and US$8.5 per tonne or 0.34 per cent to clock at US$2,502 per tonne and US$2,502.50 per tonne. As per the LME price graph. December 25 bid price and December 25 offer price ascended by...
A major incident has closed both northbound and southbound lanes of I-165 at the Fairview Drive overpass. According to the Daviess County Emergency Management Agency, a semi-truck lost its load of molten aluminium, spilling the hazardous material across the northbound lanes. Daviess County is a county in Kentucky, USA. The emergency has necessitated an immediate closure of the entire stretch, with authorities predicting the disruption to last 6 to 10 hours. To minimise the impact on motorists, a detour has been established via U.S. 231. Active measures to clear the area are already in motion. Once the aluminium crucibles (containers) are removed, road crews will commence milling the right lane and laying down a temporary base to ensure smooth traffic flow. This work is expected to be...
The previous trading day, LME Aluminum opened at US$2,496 per tonne, with a high of US$2,516 per tonne, a low of US$2,482 per tonne, and closed at US$2,511.5 per tonne, up US$14.97 per tonne, an increase of 0.6 per cent. On Wednesday, June 26, both LME aluminium cash bid price and LME aluminium official settlement price dropped by US$7.5 per tonne or 0.71 per cent and 0.30 per cent to settle at US$2,443.50 per tonne and US$2,444 per tonne. As per the SMM price graph, 3-month bid price and 3-month offer price lost US$6 per tonne or 0.24 per cent and US$5 per tonne or 0.20 per cent to peg at US$2,492 per tonne and US$2,494 per tonne. December 25 bid price and December 25 offer price moved down by US$2 per tonne or 0.07 per cent to settle at US$2,638 per tonne and US$2,643 per tonne. LME...
India exported aluminium to Russia for the first time in April, as reported by RIA Novosti, a Russian state-owned domestic news agency. This marked a significant development in international trade. This landmark transaction took place, with India exporting tonnes of unprocessed aluminium to Russian companies, as reported by RIA Novosti. This marks the first recorded supply of aluminium from India to Russia since at least the beginning of 2009, as no earlier data is available in the public domain. The move is particularly notable given Russia's status as the world's second-largest exporter of aluminium, with exports valued at $6.5 billion in 2023. In an interview with RIA Novosti, independent industry expert Leonid Khazanov suggested that the substantial supply of aluminium from India to...
The previous trading day, LME aluminium opened at US$2,500 per tonne, reached a high of US$2,513 per tonne, a low of US$2,491 per tonne, and closed at US$2,497 per tonne, down US$6 per tonne, a decrease of 0.24 per cent. On Tuesday, June 25, both LME aluminium cash bid price and LME aluminium official settlement price moved down by US$3 per tonne or 0.12 per cent to settle at US$2,451 per tonne and US$2,451.50 per tonne. 3-month bid price and 3-month offer price dipped by US$7 per tonne or 0.27 per cent to dock at US$2,498 per tonne and US$2,499 per tonne. LME aluminium opening stock came in at 1044325 tonnes. Live warrants and Cancelled warrants settled at 466500 tonnes and 577825 tonnes. December 25 bid price and December 25 offer price descended by US$10 per tonne or 0.37 per cent to...
