LME aluminium prices advanced on October 28, with cash and three-month contracts posting gains. The Asian Reference Price moved lower, while exchange opening stocks and cancelled warrants declined. Alumina Platts prices recorded a stronger increase. The cash bid rose 0.73 per cent to USD 3,100 per tonne from USD 3,077.50 per tonne. The cash offer increased 0.75 per cent to USD 3,101 per tonne on October 28 from USD 3,078 per tonne previously. Three-month aluminium prices also moved higher. The bid climbed 0.70 per cent to USD 3,083.50 per tonne from USD 3,062 per tonne, while the offer advanced 0.65 per cent to USD 3,084 per tonne from USD 3,064 per tonne. Explore the production, demand and consumption forecasts of bauxite and alumina in our report: " Global Bauxite & Alumina Market...
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...
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According to the Shanghai Metals Market survey, aluminium billet inventories in China stood at 162,800 tonnes on Thursday, June 13, indicating a week-on-week decline of 3,600 tonnes. But on a year-on-year basis, the inventories rose 21,300 tonnes, standing at a high level for the same period in nearly four years. Pick up and supply The year-on-year increase in aluminium billet inventories could be attributed to reduced pick-up from warehouses by 6,700 tonnes to 45,200 tonnes, dropping to the lowest level in nearly four years. Due to weak purchase sentiment across China, there is a very little room for improvement in aluminium billet pick-up from warehouses. SMM believes aluminium billet inventories will remain steady in the near future amid weak downstream demand and potential supplies....
According to the International Aluminium Institute survey, primary aluminium production in Western & Central Europe and Russia & Eastern Europe fell month-on-month in April 2024 but recorded a year-on-year rise. Closer view of Western & Central Europe’s output The IAI data revealed that primary aluminium output in Western & Central Europe was 226,000 tonnes, down by 6,000 tonnes or 2.6 per cent from 232,000 tonnes in March 2024 and up by 2,000 tonnes from 224,000 tonnes in April 2023. The above data indicates an overall downtrend in Western and Central Europe’s primary aluminium production, given that primary aluminium output in April 2024 recorded marginal annual growth and decreased significantly month-on-month. Encouragingly, the primary aluminium production downtrend in Western &...
China's aluminium production reached an all-time high last month as smelters resumed operations, potentially setting the stage for further price declines following a two-year peak in May. Improved hydropower reserves in Yunnan Heavy rains have replenished hydropower reserves in Yunnan, enabling smelters to restart after droughts previously reduced their electricity supply. Insights from Bloomberg Intelligence (BI), a trusted source in the financial industry, indicate that an additional 330,000 tonnes of capacity is expected to resume in Yunnan this month. Furthermore, BI forecasts a decrease in aluminium prices in June, attributing it to softened demand following the recent price surge. According to the statistics bureau on Monday, aluminium production surged by 7.2 per cent Y-o-Y,...
In a strategic move to meet burgeoning industrial demand, the Southern African nation, the Zimbabwean government, has unveiled plans to amplify lightweight metal production through aluminium beneficiation. Recognising aluminium's pivotal role across diverse sectors—from automobiles to packaging and household equipment to aerospace technology and electrical and electronics—the government aims to position Zimbabwe in the global market. This initiative promises to invigorate the national economy and advance the nation's industrial capabilities, particularly as aluminium continues to supplant copper in electrical applications. During his visit to Tajikistan, Dr Constantino Chiwenga, the Vice President of Zimbabwe, announced a new initiative following his tour of the Tajik Aluminium Company...
The previous trading day, LME aluminium opened at US$2,539 per tonne, reached a high of US$2,552.5 per tonne and a low of US$2,502 per tonne, and closed at US$2,523 per tonne, down US$21.5 per tonne, a decrease of 0.84 per cent. On Friday, June 14, both LME aluminium cash bid price and LME aluminium official settlement price dropped by US$31 per tonne or 1.24 per cent and US$32.5 per tonne or 1.30 per cent to clock at US$2,465 per tonne and US$2,465.50 per tonne. As per the LME data, 3-month bid price and 3-month offer price dipped by US$28 per tonne or 1.09 per cent and US$27.5 per tonne or 1.07 per cent to peg at US$2,529 per tonne and US$2,530 per tonne. December 25 bid price and December 25 offer price slumped by US$25 per tonne or 0.93 per cent to dock at US$2,655 per tonne and...
The Indian multinational mining and metal company Vedanta Group has unveiled a strategic roadmap to achieve a $10 billion EBITDA, underpinned by the execution of over 50 projects spanning multiple business verticals, as reported by ET Now Digital. This bold plan was disclosed during site visits attended by more than 45 investors, fund managers, and analysts. According to two insiders at these site visits, Vedanta Group anticipates these new projects will generate an impressive $5 billion in free cash flows. This ambitious initiative underscores the group's commitment to significant growth and expansion across its diverse portfolio. Vedanta Group has invested more than $8 billion in various expansion initiatives. According to the Indian news platform, Vedanta plans to open the world’s...
Vedanta Limited, an Indian multinational mining company, has increased its aluminium selling prices with effect from Friday, June 14, following a cut on June 12. This move is in line with the global aluminium benchmark price on the London Metal Exchange (LME), which escalated on June 13. With effect from June 14, Vedanta has expanded its aluminium ingot price by INR 2,250 per tonne or 1 per cent to stand at INR 245,500-265,500 per tonne versus INR 243,250-263,250 per tonne on June 12. The price movement is aligned with the LME price growth of 1 per cent on June 13 from US$2,476 per tonne to US$2,498 per tonne. With the latest change, Vedanta’s aluminium wire rod and billet prices have come in at INR 255,000-264,000 per tonne and INR 256,000 per tonne, respectively, also up by INR 2,250...
According to a Japanese integrated trading and investment business conglomerate, Marubeni Corporation, aluminium stocks at Japan’s three major ports stood steady in May 2024 compared to the previous month, but recorded a sharp fall from a year ago. Stocks increased in May following M-o-M downfall of 2.3 per cent in the previous month , totalling 308,100 tonnes. It is to be noted that Japanese stocks have maintained stability, remaining above 300,000 tonnes. As per the data revealed, aluminium stocks at Japanese ports totalled 308,700 tonnes in May 2024 compared to 308,100 tonnes in April 2024. On a year-on-year calculation, aluminium stocks in May marked a plunge of 12.8 per cent from 354,000 tonnes. The major ports in Japan with highest aluminium trading include Yokohama, Nagoya, and...
LME aluminium opened at US$2,566 per tonne in the previous trading day, with the highest point at US$2,591 per tonne, the lowest point at US$2,528.5 per tonne, and closed at US$2,544.5 per tonne, a drop of US$24.5 per tonne, or 0.95 per cent. On Thursday, June 13, both LME aluminium cash bid price and LME aluminium official settlement price gained US$20.5 per tonne or 0.82 per cent and US$22 per tonne or 0.88 per cent to settle at US$2,496 per tonne and US$2,498 per tonne. As per the LME data, both 3-month bid price and 3-month offer price also hiked by US$28 per tonne or 1.10 per cent and US$27.5 per tonne or 1.08 per cent to settle at US$2,557 per tonne and US$2,557.50 per tonne. December 25 bid price and December 25 offer price expanded by US$28 per tonne or 1.05 per cent to clock at...
In May 2024 (31 calendar days), China's domestic aluminium production was 3.637 million tonnes, an increase of 3.47 per cent M-o-M from 3.515 million tonnes and a hike of 4.61 per cent year-on-year. The rise in output during May 2024 was primarily driven by the resumption of aluminium plants in Yunnan and Inner Mongolia. However, the proportion of aluminium liquid saw a slight drop due to the reduction in aluminium billet production, down by 0.7 percentage points M-o-M and 2.3 percentage points Y-o-Y to around 73.27 per cent. According to SMM's aluminium liquid proportion data, the volume of aluminium ingot production in May rose 14.24 per cent year over year to approximately 971,000 tonnes. Production capacity According to SMM statistics, China's domestic aluminium capacity at the end of...
As we reach the midpoint of the year, it's time to evaluate the performance of aluminium in the current market landscape. This analysis delves into the recent trends and factors impacting aluminium prices, offering insights into what we can expect in the year's second half. Aluminium prices on the London Metal Exchange soared to a two-year high by the end of May'24, spurred mainly by renewed investment in commodities following a significant rise in copper prices. Source: LME, AL Circle News Following Rio Tinto's declaration of force majeure on alumina shipments from its Queensland refineries due to gas shortages affecting their operations, supply risks temporarily drove aluminium prices higher. This force majeure impacts only third-party export supply, leaving Rio Tinto's own smelters...
The previous trading day, LME aluminium opened at US$2,541.5 per tonne, reached a high of US$2,581.5 per tonne, a low of US$2,520 per tonne, and closed at US$2,569 per tonne, up US$25 per tonne, or 0.98 per cent. On Wednesday, June 12, both LME aluminium cash bid price and LME aluminium official settlement price inched up by US$1 per tonne or 0.04 per cent to clock at US$2,475.50 per tonne and US$2,476 per tonne. As per the LME data, 3-month bid price and 3-month offer price dipped by US$4 per tonne or 0.15 per cent to peg at US$2,529 per tonne and US$2,530 per tonne. December 25 bid price and December 25 offer price moved down by US$6 per tonne or 0.22 per cent to settle at US$2,652 per tonne and US$2,657 per tonne. LME aluminium opening stock came in at 1092550 tonnes. Live warrants and...
According to the International Aluminium Institute (IAI), North America’s primary aluminium production dwindled over a month in April 2024 but did not shy away from recording an annual hike. Total production in the four months of 2024 also increased on an annual basis, indicating an overall positive trend of operation at North American smelters. As per the data revealed by IAI, primary aluminium production in North America during April 2024 amounted to 331,000 tonnes, reflecting a fall of 2.93 per cent or 10,000 tonnes from 341,000 tonnes a month ago. However, on a year-on-year calculation, the output stood at 11,000 tonnes or 3.44 per cent higher compared to 320,000 tonnes. From January to April 2024, North America produced 1.329 million tonnes of primary aluminium, which marked an...
National Aluminium Company Limited (NALCO) reduced its aluminium prices with effect from Saturday, June 8, in line with the downtrend of the LME aluminium benchmark price. The company trimmed its aluminium ingot price by INR 3,500 per tonne or 1.35 per cent on June 8 from INR 254,950-258,450 per tonne on June 1. Thus, the current price of NALCO’s aluminium ingot price stands at INR 251,450-254,950 per tonne. NALCO also reduced its aluminium wire rod price and aluminium billets price by INR 3,500 per tonne, with effect from June 8. That brought the prices at INR 260,450-264,800 per tonne and INR 255,900-258,550 per tonne, respectively, versus INR 259,400-262,050 per tonne and INR 263,950-268,300 per tonne. Like any other Indian aluminium companies, NALCO links its aluminium prices with the...
Research carried out by AZ Global shows that aluminium consumption grew strongly in the first four months of this year. Our research indicates a growth rate of 6 per cent globally. In terms of major regions, Asia has the highest consumption growth rate. From January to April 2024, Asia's primary aluminium consumption was 18.1 million tonnes, an increase of 8.1 per cent year-on-year. The growth was mainly concentrated in China, Thailand and India. Europe and North America ranked second and third in total consumption, with annual primary aluminium consumption of 2.7 million tonnes and 2.0 million tonnes, respectively. The consumption growth rate declined by 1.21 per cent and 1 per cent, respectively, mainly dragged down by countries such as Germany, Turkey, and Mexico. From January to...
As of June 12, 2024, China’s latest aluminum price data reveals minor movements across the market. According to the Sanghai Metals Market (SMM), A00 aluminum ingot price has experienced a drop of RMB 20 per tonne followed by a plunge of RMB 360 per tonne on the previous day, settling at RMB 20,790 per tonne. The latest downfall in China’s domestic A00 aluminum ingot price has demonstrated a week-on-week decline of RMB 280 per tonne from RMB 21,070. This drastic decline in one week suggests a cautious market. The average range for aluminum ingot is between RMB 20,770-20,810 per tonne, with a spot contract to be offered at a discount price of RMB (-50)-(-10) per tonne. Aluminum ingot price in Foshan is at RMB 20,650, averaging between RMB 20,630 and 20,760, showing a decrease of RMB 40 per...
The previous trading day, LME aluminium opened at US$2,575.5 per tonne, reached a high of US$2,589 per tonne, a low of US$2,529 per tonne, and closed at US$2,544 per tonne, down US$38 per tonne, a drop of 1.47 per cent. On Tuesday, June 11, both LME aluminium cash bid price and LME aluminium official settlement price declined by US$40 per tonne or 1.59 per cent and US$40.5 per tonne or 1.61 per cent to clock at US$2,474.50 per tonne and US$2,475 per tonne. 3-month bid price and 3-month offer price also slumped by US$41 per tonne or 1.59 per cent to dock at US$2,533 per tonne and US$2,534 per tonne. December 25 bid price and December 25 offer price dropped by US$25 per tonne or 0.93 per cent to settle at US$2,658 per tonne and US$2,663 per tonne. LME aluminium opening stock came in at...
The United States has expanded its list of companies barred from importing goods into the country due to alleged involvement in forced labour practices associated with the Uygur population in China, as reported by the South China Morning Post. According to a notice published online by the US Department of Homeland Security (DHS) on June 11, 2024, the latest additions include Dongguan Oasis Shoes Co, a shoe manufacturer; Xinjiang Shenhuo Coal and Electricity Co, a producer of electrolytic aluminium; and Shandong Meijia Group Co, also known as Rizhao Meijia Group, a food processing company. This action underscores the US government's ongoing commitment to addressing human rights abuses and labour exploitation in global supply chains. The inclusion of these firms reflects heightened scrutiny...
