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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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...
The previous trading day, LME aluminium opened at US$2,510.5 per tonne, hit a high of US$2,531 per tonne and a low of US$2,495.5 per tonne, and closed at US$2,497.5 per tonne, down US$16 per tonne, a decrease of 0.64 per cent. On Monday, June 24, both LME aluminium cash bid price and LME aluminium official settlement price went up by US$2 per tonne or 0.08 per cent to clock at US$2,454 per tonne and US$2,454.50 per tonne. 3-month bid price and 3-month offer price also added US$2 per tonne or 0.07 per cent to settle at US$2,505 per tonne and US$2,506 per tonne. As per the LME data, both December 25 bid price and December 25 offer price inched up by US$3 per tonne or 0.11 per cent to clock at US$2,650 per tonne and US$2,655 per tonne. LME aluminium opening stock came in at 1049825 tonnes....
Aluminium Bahrain (Alba), the world’s largest aluminium smelter ex-China, announced a historical milestone. The company reached an impressive safety milestone on June 22 by completing 20 million working hours without a Lost Time Injury (LTI). This accomplishment highlights Alba's steadfast commitment to ensuring the safety and well-being of its employees. Alba's commitment to safety extends far beyond simply achieving impressive numbers. This milestone reflects a deep-rooted safety culture in every facet of our operations. This culture prioritizes risk mitigation, ongoing training, and fostering a collaborative environment where safety is everyone's responsibility. We are confident that the unwavering commitment of our entire team – employees and contractors alike – will continue to...
The previous trading day, LME aluminium opened at US$2,522.5 per tonne, hit a high of US$2,537.5 per tonne and a low of US$2,501 per tonne, and closed at US$2,513 per tonne, down US$8 per tonne, a decrease of 0.32 per cent. On Friday, June 21, both LME aluminium cash bid price and LME aluminium official settlement price dropped by US$8 per tonne or 0.32 per cent and US$8.5 per tonne or 0.34 per cent to clock at US$2,452 per tonne and US$2,452.50 per tonne. 3-month bid price and 3-month offer price also went down by US$5 per tonne or 0.19 per cent to settle at US$2,503 per tonne and US$2,504 per tonne. December 25 bid price and December 25 offer price dipped by US$5 per tonne or 0.18 per cent to reside at US$2,647 per tonne and US$2,652 per tonne. LME aluminium opening stock came in at...
China Hongqiao, a global leader in aluminium production with an annual capacity exceeding 6 million tonnes, is proud to announce the launch of the groundbreaking Hongqiao Smart Aluminium AI & L Model Development Project. This initiative, in collaboration with Guoke Interconnect and the Beijing Industrial Big Data Innovation Centre, aims to enhance the company's digital and intelligent capabilities . The project will use AI and big data to create advanced algorithms specifically designed for China Hongqiao's production processes. These algorithms will enable autonomous decision-making for each cell in electrolytic production, significantly improving the operational stability, efficiency, and lifespan of electrolytic cells, thereby addressing key industry challenges. This launch represents...
Two prominent figures in the aluminium industry, Malaysian business magnate Koon Poh Keong and Chinese billionaire Song Zuowen, are deepening their collaboration, as reported by Forbes. This multi-million-dollar agreement involves an exchange of ownership stakes in their respective aluminium firms, a testament to their strategic vision and commitment to the industry. According to an announcement on June 20, 2024, Koon's Press Metal Aluminium Holdings will trade its complete 25 per cent ownership in Bintan Alumina Indonesia for a 25.6 per cent stake in Song's Nanshan Aluminium International Holdings. Nanshan Aluminium, a subsidiary of Shandong Nanshan Aluminium, plans to spin off and independently list on the Hong Kong Stock Exchange to secure funds for future growth. The move will follow...
The upstream aluminium sector, encompassing bauxite, alumina, and primary aluminium) recorded some significant milestones this week in terms of production, trading, inventories, and market developments. Some of the key highlights of the week are: China’s 2-year high production, world’s primary aluminium production exceeding 6 million tonnes, Iran’s steady metal output in the first two months of FY2025, Vedanta’s strategic plans to face the EU’s CBAM tariff, Italy’s proposition to enhance procurement and reprocessing of critical raw materials, discovery of valuable minerals in the Malaysian state of Sarawak, and many more. Datuk Amar Awang Tengah Ali Hasan, Deputy Premier of Sarawak, Malaysia, has disclosed that the state possesses valuable minerals estimated at RM1.25 trillion. This...
In May 2024, the world's primary aluminium production experienced a month-on-month increase of 3.86 per cent to repossess the 6 million tonnes level. This monthly growth in May followed a decline in April by 3 per cent from 6.089 million tonnes to 5.906 million tonnes. According to the latest data revealed by the International Aluminium Institute, the global primary aluminium production in May amounted to 6.134 million tonnes, the highest in the past five months and up 3.44 per cent from 5.93 million tonnes a year ago. The daily average production in May was 197,900 tonnes, an increase of 0.51 per cent from 196,900 tonnes in April and up by 3.45 per cent from 191,300 tonnes in May 2023. From January to May 2024, the world's primary aluminium production totalled 29.901 million tonnes,...
On Thursday, June 20, three-month LME aluminium contract opened at US$2,493 per tonne, reached a high of US$2,525.50 per tonne and a low of US$2,491 per tonne, and closed at US$2,521 per tonne, up US$31.50 per tonne, an increase of 1.27 per cent. On the same day, LME aluminium cash bid price and LME aluminium official settlement price expanded for the second consecutive day by US$15.50 per tonne and US$16 per tonne, respectively, to stand at US$2,460 per tonne and US$2,461 per tonne. However, despite the back-to-back increase, the LME aluminium benchmark price stood week-on-week down by US$37 per tonne or 1.48 per cent from US$2,498 per tonne and even lower by US$107 per tonne or 4.2 per cent from US$2,568 per tonne. On June 20, 3-month bid price and 3-month offer price also increased,...
According to the latest data revealed by the Iranian Mines and Mining Distribution Development and Renovation Organization (IMIDRO), Iran’s aluminium ingot production during the first two months of FY2024-2025 (March 20-May 21) saw a slight drop of 0.44 per cent year-on-year. From 112,767 tonnes in April and May 2023, Iran’s primary aluminium production grew to 112,273 tonnes this year. Based on IMIDRO’s data, among the country’s four major producers, South Aluminum Corporation contributed the highest to the two-month aluminium ingot production. The company produced 47,002 tonnes of primary metal, followed by the Iranian Aluminium Company, which produced 31,122 tonnes. Almahdi Aluminum Company and Iran Alumina Company, the third and the fourth largest producer of primary aluminium in...
On the previous trading day, LME aluminium opened at US$2,495 per tonne, reached a high of US$2,520 per tonne, a low of US$2,484 per tonne, and closed at US$2,489.5 per tonne, down US$6 per tonne, a decrease of 0.24 per cent. On Wednesday, June 19, both LME aluminium cash bid price and LME aluminium official settlement price hiked by US$17.5 per tonne or 0.72 per cent to clock at US$2,444.50 per tonne and US$2,445 per tonne. This rise was driven by short covering after recent declines caused by disappointing industrial output figures from China. As per the LME price graph, both 3-month bid price and 3-month offer price gained US$21 per tonne or 0.86 per cent and US$20 per tonne or 0.80 per cent to halt at US$2,502 per tonne and US$2,503 per tonne. On the same day, December 25 bid price...
Have you blocked your calendar for Asia's biggest trade show for the aluminium industry and its ancillary sectors? Yes, we mean Aluminium China, and if you're yet to plan for it, here's a gentle reminder! Aluminium China, bringing industry stalwarts under one roof, is set to occur on July 3-5, 2024, at the Shanghai New International Expo Center. As a Media Partner of the event, AL Circle is thrilled to say that Aluminium China 2024 will be nothing less than a star-studded show with the graceful presence of global aluminium companies located within or outside China. About exhibitors From primary aluminium producers to semi-fabricated manufacturers, from technology providers to industry associates, Aluminium China 2024 will accommodate about 600 domestic and international exhibitors. Among...
In line with global efforts to combat climate change, the European Union has introduced a significant measure—the Carbon Border Adjustment Mechanism (CBAM), designed to regulate the import of carbon-intensive products, such as aluminium, by charging a tariff based on the emissions produced during their manufacturing. This tariff currently applies to six product categories – aluminium, iron and steel, hydrogen, electricity, cement, and fertiliser, irrespective of the product’s origin. The CBAM is set to come into effect in January 2026. In preparation, the European Union has already begun requesting reports on the carbon emissions of goods exported to the EU. India’s leading stainless steel producer, Jindal Stainless Limited, is taking proactive steps to reduce carbon emissions and...
The latest Shanghai Metals Market (SMM) data reveals a mixed scenario in the aluminium market with today’s price for A00 aluminium ingot showing a slight rise of RMB 50 per tonne to RMB 20,400 per tonnes . The average prices are estimated to range between RMB 20,380 per tonne and RMB 20,420 per tonne, with spot contract to be traded at a discount price of RMB 60-20 per tonne. However, a broader analysis over the past month and even weekly trend indicates a continuing downward track in prices . One of the primary reasons for the decline in aluminium prices is the weak purchase sentiment across China due to a traditional off-season and a massive 2-year hike in primary aluminium production to approximately 3.65 million tonnes. As of June 19, 2024, A00 aluminium ingot price has also increased...
On Tuesday, June 17, LME aluminium opened at US$2,508 per tonne, reached a high of US$2,520 per tonne, a low of US$2,470 per tonne, and closed at US$2,495.50 per tonne, down US$12 per tonne, a decrease of 0.48 per cent. On Tuesday, June 18, LME aluminium cash bid price and LME aluminium official settlement price increased by US$7.50 per tonne and US$7 per tonne, following a steep fall on the earlier day influenced by low consumption of metal in the Chinese market due to off-season. The LME prices on Tuesday stood at US$2,427 per tonne and US$2,427.50 per tonne. Conversely, on the same day, 3-month bid price and 3-month offer price unanimously dropped by US$4 per tonne to stand at US$2,481 per tonne and US$2,483 per tonne, respectively. December-25 bid price and December-25 offer price, on...
The Malaysian financial services firm Kenanga Investment Bank Berhad Research has upgraded the building materials sector to an 'Overweight' rating, primarily influenced by its recent reassessment of sector heavyweight Press Metal Aluminium Holdings Bhd. Press Metal Berhad is a Malaysian-based aluminium company with a significant global presence. In a report released on June 18, 2024, the research house highlighted a marked improvement in earnings performance across the sector during the first quarter reporting season. Stocks under its coverage either met or surpassed expectations, prompting an optimistic outlook for the sector. Kenanga Research said, "We expect aluminium prices to stay firm on supply constraints while stable steel prices translate to stable steel product prices, reducing...
The previous trading day, LME aluminium opened at US$2,519.5 per tonne, reached a high of US$2,523.5 per tonne, a low of US$2,476.5 per tonne, and closed at US$2,507.5 per tonne, down US$15.5 per tonne, a decrease of 0.61 per cent. On Monday, June 17, both LME aluminium cash bid price and LME aluminium official settlement price declined by US$45.5 per tonne or 1.84 per cent and 1.82 per cent to clock at US$2,419.50 per tonne and US$2,420 .50 per tonne. As per the LME aluminium price graph, both 3-month bid price and 3-month offer price slumped by US$44 per tonne or 1.73 per cent and US$43 per tonne or 1.69 per cent to peg at US$2,485 per tonne and US$2,487 per tonne. December 25 bid price and December 25 offer price contracted by US$37 per tonne or 1.39 per cent to dock at US$2,618 per...
According to a report on June 18, some global aluminium producers sought a premium of $185-190 per tonne from Japanese buyers for July-September primary aluminium shipments. The news came after three people directly involved in quarterly pricing talks said. Compared to the second quarter’s premium of $145-148 per tonne, the Q3 premium being offered is 25 to 31 per cent higher. The latest Q3 premium is even higher than the premium quoted last month by a global producer. According to a report on May 29, J apanese buyers were offered a premium of $175 per tonne , up 18 to 20 per cent from the Q2 premium. During the previous offer, Japanese buyers had already expressed that the premium was too high considering the sluggish domestic demand for aluminium, especially from the industrial and...
