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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The latest data revealed by the US Geological Survey indicates a sequential increase in the United States’ aluminium crude metals and alloys imports during the first quarter of 2024. On an annual basis, the imports also recorded an upswing, showed the USGS data. In Q1 2024, the United States imported 911,000 tonnes of aluminium crude metals and alloys, up by 5.81 per cent Q-o-Q from 861,000 tonnes and 1.12 per cent Y-o-Y from 901,000 tonnes. The United States Q1 imports recorded an uptrend, both on a sequential and annual basis, despite a drop in March 2024. In the said month, the United States imports of aluminium crude metals and alloys amounted to 270,000 tonnes, down by 19.48 per cent from 344,000 tonnes in February 2024 and 12.34 per cent less than 316,000 tonnes in March 2023. In...
The project team involved in implementing an integrated economic cluster for aluminium in Suhar paid a visit to Suhar Industrial City and discussed comprehensive action plan for developing the aluminium industry cluster. The team looking after the project includes representatives from OPAZ, the Public Establishment for Industrial Estates “Madayn”, the National Programme for Economic Diversification “Tanwee”, the National Programme for Investment and Exports Development “Nazdaher”, and the Industrial Innovation Academy. During the visit, the team met the executive management of Sohar Aluminium, a key player in the Sultanate’s aluminium industry, and toured several downstream aluminium manufacturing factories to understand their day-to-day challenges and identify investment opportunities...
The London Metal Exchange (LME) has experienced a dramatic surge in the wait time for aluminium deliveries, which has surged from zero to over five months following a significant influx of metal from Trafigura Group in May. Recent exchange data reveals that as of the end of May, the waiting period for aluminium at Istim Metals' warehouses in Port Klang, Malaysia, has extended to 159 days. This is a stark contrast to April when there was no queue. This development underscores the impact of substantial deliveries on the logistical dynamics within the LME. The recent queue at the Istim warehouses in Port Klang, Malaysia, marks the longest wait in the LME system since June 2021, when a 168-day delay occurred. This queue followed a substantial delivery last month, triggering a flurry of metal...
In a notable shift within the global aluminium market, the share of available aluminium stocks of Russian origin in London Metal Exchange (LME) warehouses experienced a dramatic decline, dropping to 42 per cent in May'24 from a dominant 89 per cent in April. Concurrently, aluminium stocks of Indian origin surged to occupy 50 per cent of the stocks, a significant rise from the previous 9 per cent, according to the latest LME data released on June 10, 2024 and published by Reuters. This substantial redistribution in aluminium stock origins underscores the evolving dynamics of global metal trade, potentially influenced by geopolitical factors and shifting economic alliances. The marked decrease in Russian aluminium's presence could indicate broader market adjustments or regulatory impacts,...
On the previous trading day, LME aluminium opened at US$2,576 per tonne, reached a high of US$2,586.5 per tonne, a low of US$2,550.5 per tonne, and closed at US$2,582 per tonne, up US$6 per tonne, an increase of 0.23 per cent. On Monday, June 10, both LME aluminium cash bid price and LME aluminium official settlement price dwindled by US$63.5 per tonne or 2.46 per cent and US$63 per tonne or 2.44 per cent to clock at US$2,514.50 per tonne and US$2,515.50 per tonne. As per the LME price graph, both 3-month bid price and 3-month offer price contracted by US$54 per tonne or 2.05 per cent to dock at US$2,574 per tonne and US$2,575 per tonne. December 25 bid price and December 25 offer price descended by US$54 per tonne to peg at US$2,683 per tonne and uS$2,688 per tonne. LME aluminium opening...
Global mining and metal giant Rio Tinto has agreed to acquire Mitsubishi Corporation’s 11.65 per cent stake in Boyne Smelters Ltd (BSL), which owns and operates the Boyne Island aluminium smelter in Gladstone, Australia, in a strategic move to expand its operations. Upon completing this transaction and the recent agreement to acquire Sumitomo Chemical Company’s 2.46 per cent interest in BSL, Rio Tinto’s interest in BSL will increase to 73.5 per cent. The acquisition, which is for an undisclosed price, is subject to various conditions precedent, including approval from Australia’s Foreign Investment Review Board, and is expected to be finalised in the second half of 2024. Rio Tinto is committed to a collaborative approach and looks forward to continuing to work with its remaining BSL joint...
The United States' domestic primary aluminium production in March 2024 recorded a month-on-month increase after two back-to-back months of decline in January and February. However, on a year-on-year calculation, the United States' primary aluminium production in March was 12.31 per cent less than 65,000 tonnes. According to the latest data revealed by the US Geological Survey, the United States produced 57,000 tonnes of primary aluminium in March 2024, which reflected an increase of 8,000 tonnes or 12.30 per cent in February 2024. It is to be noted here that despite the month-on-month increase in March 2024, primary aluminum production in the United States experienced a decline for the entire Q1 period when compared both quarter-on-quarter and year-on-year. The United States accumulated...
On May 23, a collaborative conference was held in Zhengzhou, focusing on Henan's advanced aluminium-based material industry chain scheduling and promotion. The meeting underscored the significance of advanced aluminium-based materials as a vital element of new materials for strategic emerging industries. It was reiterated that understanding the current development landscape necessitates seizing policy opportunities and maintaining confidence in growth, a task that requires the collective effort of all stakeholders. About the meeting The development of new quality productivity must be seamlessly integrated into the broader pattern of high-quality development within the aluminium industry. Efforts should be concentrated on enhancing upstream processes, stabilising midstream activities, and...
LME aluminium opened at US$2,633.50 per tonne, reached a high of US$2,673 per tonne and a low of US$2,628.50 per tonne, and closed at US$2,647.50 per tonne, up US$12.50 per tonne or 0.47 per cent. On Friday, June 7, LME aluminium cash bid and LME aluminium official settlement price decreased by US$8 per tonne and US$8.5 per tonne, respectively, to close the week at US$2,578 per tonne and US$2,578.50 per tonne. The LME aluminium benchmark price fell on mixed trade numbers and a rise in the US dollar. On the same day, 3-month bid price and 3-month offer price shrunk by US$15.5 per tonne and US$15 per tonne to settle at US$2,628 per tonne and US$2,629 per tonne. December-25 bid price and December-25 offer price stood at US$2,737 per tonne and US$2,742 per tonne, down by US$23 per tonne from...
Jean Simard is one of the most well-known and popular people in the global aluminium industry. Jean heads up the Canadian Aluminum Association. Following the recent news that the US had imposed tariffs on imports of aluminium from markets such as China, Jean contacted me to discuss the issue. I invited him to plan a few words for the article. Here is what he contributed, untouched, apart from a comma here or there. The view from the North With the United States and Mexico imposing tariffs on certain aluminium products, Canada's primary aluminium industry , exempt from those tariffs, stands in a unique position. With its privileged access to the North American market, this advantage is set to benefit the region. Canadian primary aluminium offers key characteristics for the North American...
Rio Tinto, a leading mining group, reportedly acquired approval for wind farm expansion within a week of signing a groundbreaking electricity deal to power its New Zealand Tiwai Point aluminium smelter. On Thursday, June 6, the New Zealand-listed energy company Mercury said it would start working on expanding Kaiwera Downs wind farm near Gore on the South Island at a cost of $486 million. After expansion, the wind farm's total capacity will grow to 198 MW, becoming the second largest in New Zealand. The wind farm will then be able to generate enough electricity to power the equivalent of around 73,000 tonnes per year. The Tiwai Point aluminium smelter's total need for 572 megawatts (MW) of power would be met by several electricity generators including Meridian Energy, Contact Energy,...
According to the Shanghai Metals Market, A00 aluminium ingot price has dropped slightly by RMB 20 per tonne after a rise of RMB 120 per tonne on the previous day. Therefore, the ingot price has closed the week at RMB 21,170 per tonne on June 7, registering a week-on-week fall of RMB 70 per tonne from RMB 21,240 per tonne. The average prices are estimated to range between RMB 21,150 per tonne and RMB 21,190 per tonne, with spot contract to be traded at a discount price of RMB 90-50 per tonne. In Gongyi, A00 aluminium ingot price has slipped by RMB 40 per tonne to settle at RMB 21,080 per tonne, followed by the decline of RMB 30 per tonne in Foshan, Hangzhou, Shenyang, and Linyi to stand at RMB 21,050 per tonne, RMB 21,170 per tonne, RMB 21,090 per tonne, and RMB 21,200 per tonne,...
On the previous trading day, LME aluminium opened at US$2,633.5 per tonne, reached a high of US$2,673 per tonne and a low of US$2,628.5 per tonne, and closed at US$2,647.5 per tonne, up US$12.5 per tonne, an increase of 0.47 per cent. On Thursday, June 6, both LME aluminium cash bid price and LME aluminium official settlement price hiked by US$11 per tonne or 0.42 per cent and US$10 per tonne or 0.38 per cent after witnessing a drop for the past three days. The prices closed at US$2,586 per tonne and US$2,587 per tonne. According to the LME data , the 3-month bid price and 3-month offer price also grew by US$20.5 per tonne or 0.78 per cent and US$20 per tonne or 0.76 per cent to stand at US$2,643.50 per tonne and US$2,644 per tonne, respectively. December 25 bid price and December 25...
In May 2024, the global aluminium industry experienced notable price gains, driven by rising demand despite ongoing geopolitical tensions and economic deceleration expected in several key nations. This uptick marks a significant shift from earlier projections. At the start of the year, AL Circle's "Global Aluminium Industry Outlook 2024" predicted a gradual increase in aluminium demand and prices, with more substantial gains anticipated towards the latter half of the year. However, the current gain suggests a faster-than-expected recovery, highlighting the sector's resilience amid challenging global conditions. As the world is paving the road towards a sustainable future and the aluminium industry is also gearing up to shift towards a green future, the aluminium industry’s biggest...
Hindalco Industries Limited reduced its aluminium prices for two days this week by INR 8,000 per tonne in response to the current downtrend of the LME aluminium benchmark price. During June 3-5, the global aluminium price on the London Metal Exchange contracted by US$48 per tonne or 1.83 per cent from US$2,625 per tonne to US$2,577 per tonne. On June 5, the LME aluminium price shed off US$26 per tonne overnight that led Hindalco to cut its aluminium ingot selling price by INR 3,250 per tonne or 1.27 per cent to INR 252,500 per tonne on June 6. On the same day, Hindalco also reduced its aluminium wire rod price and aluminium billets price by INR 3,250 per tonne to INR 269,500 per tonne and INR 266,600 per tonne. Earlier, on June 4, Hindalco’s aluminium ingot price experienced a slash of...
On Wednesday, June 5, LME aluminium opened at US$2,663 per tonne, with a high of US$2,663 per tonne, a low of US$2,615 per tonne, and closed at US$2,635 per tonne, down US$27 per tonne or 1.01 per cent. LME aluminium cash bid price and LME aluminium official settlement price continued to fall by US$27.50 per tonne and US$26 per tonne, marking the third consecutive day of decline that brought the prices at US$ 2,575 per tonne and US$2,577 per tonne, respectively. On the same day, 3-month bid price and 3-month offer price declined by US$19 per tonne or 0.72 per cent to reach US$2,623 per tonne and US$2,624 per tonne. December-25 bid price and December-25 offer price shed off US$10 per tonne to settle at US$2,728 per tonne and US$2,733 per tonne. On June 5, LME aluminium opening stock stood...
The previous trading day, LME aluminium opened at US$2,662 per tonne, reached a high of US$2,686.5 per tonne and a low of US$2,635 per tonne, and closed at US$2,662 per tonne, down US$2 per tonne, a decrease of 0.08 per cent. On Tuesday, June 4, both LME aluminium cash bid price and LME aluminium official settlement price dropped by US$20.5 per tonne or 0.78 per cent and US$22 per tonne or 0.83 per cent to stand at US$2,602.50 per tonne and US$2,603 per tonne. As per the LME data , both 3-month bid price and 3-month offer price slumped by US$26 per tonne or 0.97 per cent and US$27 per tonne or 1.01 per cent to clock at US$2,642 per tonne and US$2,643 per tonne. December 25 bid price and December 25 offer price contracted by US$25 per tonne or 0.90 per cent to stand at US$2,738 per tonne...
Rio Tinto, the world's second-largest metals and mining corporation, commemorates the 70th anniversary of its BC Works operation, honouring seven decades of notable contributions to the aluminium industry and the Kitimat community. As the sole aluminium smelter operator in British Columbia, Rio Tinto has solidified its position as a pivotal player in the local economy while championing responsible and top-tier aluminium production. Celebrating 70 glorious years In honour of its 70th anniversary, Rio Tinto hosted a grand celebration on June 1st at the Kitimat smelter site, drawing over 1,800 attendees, including four generations of employees and retirees. The event was vibrant, featuring bus tours of the smelter operations, live music, kiosks, displays, inflatable games, and a photo booth....
