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 previous trading day, LME aluminium opened at US$2,608.5 per tonne, reached a high of US$2,675 per tonne and a low of US$2,603 per tonne, and closed at US$2,658 per tonne, up US$36.5 per tonne or 1.39 per cent. On Friday, May 24, the LME aluminium cash bid price and LME aluminium official settlement price surged by US$48 per tonne, or 1.88 per cent, to US$2,598 per tonne and US$2,599 per tonne, respectively. As per the LME data, 3-month bid price and 3-month offer price also expanded by US$47 per tonne or 1.80 per cent and US$47.5 per tonne or 1.82 per cent to stand at US$2,649 per tonne and US$2,650 per tonne. December 25 bid price and December 25 offer price gained US$48 per tonne or 1.76 per cent to halt at US$2,768 per tonne and US$2,773 per tonne. LME aluminium opening stock came...
The aluminium industry is witnessing significant leadership changes and strategic partnerships aimed at fostering sustainability and growth. Recent appointments at the International Aluminium Institute (IAI) and PETROSOL, coupled with key industry moves involving Glencore, Rusal, and TALCO, denote the dynamic evolution of the sector. These developments highlight the crucial role of aluminium in advancing global manufacturing towards a zero-carbon future and strengthening international collaborations. IAI Appoints Vedanta Aluminium’s CEO John Slaven as Vice-Chairman The International Aluminium Institute (IAI) has appointed John Slaven, CEO of Vedanta Aluminium, as one of its new vice-chairmen. In this role, Slaven will spearhead global initiatives promoting aluminium's pivotal role in...
Hindalco Industries Limited, Aditya Birla Group's flagship metal company, has announced its consolidated financial results for the fourth quarter and full year of FY2024, which ended March 31. The company revealed that it concluded the year with strong results across all business segments, earning a profit after tax (PAT) of INR 10,155 crore, up 1 per cent from INR 10,097 crore a year ago. This significant increase in profit was primarily bolstered by Hindalco’s all-time high aluminium sales volume of 1.372 million tonnes, up 2 per cent year-on-year. Hindalco's PAT at the end of Q4 FY2024 was INR 3,174 crore, which marked a substantial increase of 32 per cent year-on-year from INR 2,411 crore. Hindalco's consolidated EBITDA in FY2024 totalled INR 25,728 crore, up 7 per cent year-on-year....
National Aluminium Company Limited (NALCO) has revised its aluminium ingot and product prices, with effect from Thursday, May 23. Compared to May 1, the company’s aluminium prices have been expanded significantly by about 4 per cent, in tandem with a gradual increase in aluminium prices on the London Metal Exchange. At the end of May 22, the LME aluminium benchmark price stood at US$2,625 per tonne, up by US$80 per tonne or 3.1 per cent from US$2,545 per tonne on April 30. NALCO increased its aluminium ingot selling price by INR 10,000 per tonne, with effect from May 23, to INR 255,450-258,950 per tonne, compared to INR 245,450-248,950 per tonne from May 1 to May 22. India’s Navratna CPSE under the Ministry of Mines also boosted its aluminium prices by INR 10,000 per tonne from its...
Dong Jianxiong, the Vice General Manager of Chinalco Group and Chairman of Chinalco Shares, and Luciano Alves, CEO of Companhia Brasileira de Aluminio (CBA), visited Baotou Aluminum on May 8. During the visit, Alves and his delegation toured several key production sites, including the intelligent production and centralised control centre, Huayun Electrolytic Plant 1, and Huayun Electrolytic Thermal Power Plant 2. About the visit Zhu Runzhou, the General Manager of Chinalco and Deputy Party Secretary, was also present during the visit. They also examined the unattended intelligent laboratory system for incoming coal. The visit facilitated in-depth discussions on various topics, such as electrolytic production, digital intelligent control, green, low-carbon energy-saving technologies, and...
On the previous trading day, LME aluminium opened at US$2,638 per tonne, reached a high of US$2,645.5 per tonne, a low of US$2,586.5 per tonne, and closed at US2,614 per tonne, down US$26.5 per tonne, a decrease of 1 per cent. On Thursday, May 23, both LME aluminium cash bid price and LME aluminium official settlement price decreased by US$74 per tonne or 2.82 per cent to settle at US$2,550 per tonne and US$2,551 per tonne, respectively. On a Week-on-Week scale, the LME aluminium price has grown by US$7 per tonne or 0.27 per cent from US$2,551 per tonne recorded on May 17. 3-month bid price and 3-month offer price slumped by US$70.50 per tonne or 2.64 per cent to halt at US$2,602 per tonne and US$2,602.50 per tonne. The December 25 bid price and December 25 offer price also tumbled by...
In a move to bolster their ongoing partnership, Swiss-based trading house Glencore and Russian aluminium giant Rusal have agreed to extend their long-term supply contract into next year. According to a source with direct knowledge of the matter, the volume traded under the agreement thus far has reached only a fraction of its maximum potential. The contract between Glencore and Rusal, the world's largest aluminium producer outside of China, has been renewed. This renewal ensures continued collaboration between the two industry giants and underscores the mutual benefits they derive from this partnership. Initially set to expire this year, the contract has been renewed, reflecting both parties' confidence in the future of the aluminium industry. However, this morning, when we reached an...
The previous trading day, LME aluminium opened at US$2,710.5 per tonne, reached a high of US$2,749 per tonne and a low of US$2,621 per tonne, and closed at US$2,640.5 per tonne, down US$75 per tonne, a decrease of 2.76 per cent. On Wednesday, May 22, both LME aluminium cash bid price and LME aluminium official settlement price dropped by US$19 per tonne or 0.71 per cent and US$20 per tonne or 0.75 per cent to settle at US$2,624 per tonne and US$2,625 per tonne. 3-month bid price and 3-month offer price contracted by US$31 per tonne or 1.14 per cent to stand at US$2,672.50 per tonne and US$2,673 per tonne. December 25 bid price and December 25 offer price also dwindled by US$43 per tonne or 1.52 per cent to clock at US$2,772 per tonne and US$2,777 per tonne. LME aluminium opening stock...
The Shanghai Metals Market survey reported on Monday, May 20, that China's domestic social inventories of aluminium ingot across major consumption areas came in at 759,000 tonnes, experiencing an increase of 12,000 tonnes over the weekend. SMM also calculated and found that the stock level on May 20 was 90,000 tonnes higher year-on-year. The latest surge in inventories is linked with rising aluminium prices, which are discouraging domestic downstream manufacturers from purchasing new stock. Analysis for upward trajectory Other factors that contributed to the rise in inventory included an influx of primary aluminium from Guangxi and Yunnan. South China saw a month-on-month increase of over 1,000 tonnes in arrivals over the weekend. Inching closer to the domestic off-season was also a valid...
In a significant move to elevate the technical acumen of Bahrain's youth, Aluminium Bahrain B.S.C. (Alba) has generously donated a robotic unit to the Nasser Vocational Training Center (NVTC). This initiative aligns with the Center's mission to offer students immersive, practical experiences in robotic operations. On May 20, 2024, a ceremonial handover took place, witnessing the presence of Alba’s CEO , Ali Al Baqali, and the CEO of NVTC, Dr. Abdulla bin Naser Al Noaimi, alongside senior officials from both organisations. This event marked a collaborative milestone aimed at enriching the educational landscape with advanced technological tools. From industry to education The donated robotic unit previously served at Alba’s Casthouse 2, efficiently stacking finished product bundles for over...
The previous trading day, LME aluminium opened at US$2,628 per tonne, hit a high of US$2,765.50 per tonne and a low of US$2,607 per tonne, and closed at US$2,715.5 per tonne, up US$89 per tonne or 3.39 per cent. On Tuesday, May 21, both LME aluminium cash bid price and LME aluminium official settlement price soared by US$75.50 per tonne or 2.94 per cent and US$77 per tonne or 2.99 per cent to halt at US$2,643 per tonne and US$2,645 per tonne. On a Year-on-year scale, the LME aluminium price has seen a spike of US$383 per tonne or 16.93 per cent from US$2,645 per tonne recorded on May 22, last year. Aluminium prices surged to a nearly two-year high on Tuesday, marking the largest one-day gain in four months due to concerns about raw material supply and a rally in copper. On the London...
According to the International Aluminium Institute survey, the world’s primary aluminium production in April 2024 witnessed a month-on-month drop of 3.12 per cent but a year-on-year rise of 3.33 per cent. As per the data revealed, world’s primary aluminum output was 5.9 million tonnes in April 2024, compared to 6.09 million tonnes in March 2024 and 5.71 million tonnes in April 2023. The year-on-year increase in production during April 2024 was primarily driven by demand recovery in manufacturing sectors, like automobile, packaging, and solar power, reduced production costs, and higher profit margin due to bullish aluminium benchmark price on the London Metal Exchange. World’s daily average output of primary aluminium also grew 3.3 per cent year-on-year in April 2024 to stand at 196,600...
Eurasianet reported on May 20 that China is set to assist Tajikistan in completing several major infrastructure projects, including modernising the Tajik Aluminum Company (TALCO), the country's largest industrial enterprise. TALCO has recently increased its output, producing over 66,000 tonnes of primary aluminium in 2023, marking a 7 per cent rise from the previous year's total. Chinese and Tajik officials signed a protocol Earlier in May, Chinese and Tajik officials reportedly signed a protocol during an intergovernmental meeting in Beijing, detailing plans for China to assist Tajikistan in several significant projects. These include the modernisation of TALCO, infrastructure developments in Dushanbe, the construction of a logistics centre in Danghara, and the upgrade of a highway in...
Bharat Aluminium Company Limited (BALCO), a renowned name in India's aluminium industry and a subsidiary of Vedanta Aluminium has taken a groundbreaking step in ash management. By introducing a state-of-the-art Digital Ash Control Tower (ACT), BALCO is set to revolutionise its ash management practices with real-time artificial intelligence (AI) monitoring, enhancing both operational efficiency and safety. BALCO's Digital Ash Control Tower (ACT) is a pioneering solution aimed at transforming its extensive ash management network. Utilising advanced AI, the ACT provides real-time monitoring to ensure strict compliance with ash management guidelines. This cutting-edge technology significantly improves the management of the ash handling fleet, streamlining transportation, and ensuring road...
PETROSOL Platinum Energy Ltd has announced the appointment of Daniel Acheampong, a seasoned corporate leader and former CEO of Volta Aluminium Company Ltd (VALCO), as its Board Chairman. Mr Acheampong assumed his new role on May 16, 2024, bringing with him a wealth of experience in strategic leadership and human resource management. Mr. Acheampong's illustrious career at VALCO spanned 36 years, during which he held various key positions, culminating in his appointment as CEO in January 2014. Under his leadership, VALCO reinforced its status as a cornerstone of Ghana's integrated aluminium industry. His tenure was marked by significant strides in stakeholder confidence and operational excellence, driven by his commitment to professionalism and ethical conduct. Before becoming CEO, Mr....
China-based Jiaxin New Materials Company successfully anchored its target tasks through scientific planning and efficient production organisation in the first quarter. The company achieved 102.92 per cent of its operating income goal, 105.1 per cent of its total industrial output value target, and 125.9 per cent of its profit objective. Additionally, comprehensive processing costs decreased by 34 per cent compared to 2023, marking a robust start to the year. The company also unlocked a significant milestone this year in May by successfully developing and producing A356 aluminium alloy square ingots . The company's achievements so far Dongxing Jiaxin New Materials has adopted a working concept centred on production orders, equipment, and primary business support. The company has vigorously...
According to China customs data, China’s unwrought aluminium and products imports (including primary metal and unwrought, alloyed aluminium) in April 2024 surged by 72.1 per cent year-on-year to reach 380,000 tonnes. China’s total imports of unwrought aluminium and products amounted to 1.49 million tonnes during the first four months of 2024, up by 86.6 per cent from the same period last year. China’s aluminium imports increased significantly over a year due to demand growth and robust consumption of the green metal. Besides solar and wind power sectors, construction, transportation, and packaging also contributed immensely to the rise in demand. Russia was the leading exporting country to China, supplying 392,775 tonnes in the first quarter of 2024. That was year-on-year higher by 127.7...
LME aluminium opened at US$2,621 per tonne in the previous trading day, with its low and high at US$2,605 per tonne and US$2,648 per tonne, respectively, before closing at US$2,626.5 per tonne, up US$5.5 per tonne or 0.21 per cent. On Monday, May 20, both LME aluminium cash bid price and LME aluminium official settlement price gained US$24 per tonne or 0.94 per cent to clock at US$2,567.50 per tonne and US$2,568 per tonne. As per the LME price graph, both 3-month bid price and 3-month offer price expanded by US$24.5 per tonne or 0.94 per cent to peg at US$2,622 per tonne and US$2,622.50 per tonne. December 25 bid price and December 25 offer price grew by US$11 per tonne or 0.40 per cent to reside at US$2,738 per tonne and US$2,743 per tonne. LME aluminium opening stock came in at 1092800...
