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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At the close of trading on Friday, May 17, 2024, all base metals on the London Metal Exchange (LME) showed positive week-over-week trends. On the LME, three-month aluminium futures hiked by 3.2 per cent to reach $2,612 per tonne, while nickel settled at $21,080 per tonne, marking an impressive increase of 11.39 per cent. Aluminium price Primary aluminium producers in India have recently raised the price of P1020 primary ingots by up to INR 3,400 per tonne, leading to a slight uptick in spot prices for P1020 ingots in the Delhi NCR region. However, aluminium scrap prices in India have remained relatively stable with minor fluctuations. Market activity has been sluggish as buyers proceed with caution. According to BigMint's assessments, tensioned scrap from the US experienced a modest...
International Aluminium Institute has reportedly appointed John Slaven, CEO of Vedanta Aluminium, vice-chairman. In the new position, Slaven will lead global initiatives to promote aluminium's critical role in transforming the manufacturing industry into a zero-carbon modern world. Since inception in 1972, the International Aluminium Institute is single-handedly representing the global primary aluminium industry, advocating for industry's responsible productions and operations and promoting the benefits of using aluminium in different industrial sectors. Besides, IAI maintains comprehensive global data with 40 years of analysis on production, consumption, energy use, and environmental impact. Upon his appointment as vice-chairman of IAI, John Slaven said: "Aluminium has already proven...
The recent collaboration between China Hongqiao Lightweight Research Institute and the Institute of Metal Forming (IBF) at RWTH Aachen University in Germany signifies a significant stride in advancing mutual exchange and cooperation in cutting-edge manufacturing technology. During their visit to Germany, representatives from the Lightweight Research Institute and China Hongqiao European Innovation Centre had the opportunity to tour several esteemed German research institutions. One notable visit was to the Institute of Forming Technology (IUL) at Dortmund University in the Ruhr Industrial Area. Here, Professor Tekkaya, a distinguished figure in the industry, provided comprehensive insights drawn from over 70 years of technical expertise at the institute. He delved into various innovative...
Indian primary aluminium manufacturers’ operating margin is likely to grow by over 25 per cent in this ongoing financial year due to robust demand and potentially lesser production costs driven by cheaper energy and alumina. The primary aluminium industry is capital-intensive and marked by volatile prices. An increase in operating margin/profit will enable manufacturers to reduce reliance on debt to fund ongoing capital expenditure often required for capacity expansion. The estimation of increased operating margin for FY2025 is established by a CRISIL Ratings study conducted on three domestic primary aluminium producers, who account for 90 percent of the 4.1 million tonnes of domestic capacity. In the previous fiscal year, 2024, the operating margin of Indian manufacturers grew by 20 per...
European Aluminium, the leading association representing the entire European aluminium value chain, urgently calls on the EU to address the ongoing exclusion of major aluminium product categories from its sanctions regime on Russia. This stark disparity in action is evident when comparing the EU's stance to that of other G7 partners, such as the US, UK, and Canada, all of whom have already implemented sanctions on Russian aluminium ingots. European Aluminium emphasises that a comprehensive ban should cover all principal categories of aluminium products—ingots, slabs, and billets. These categories comprise over 85 per cent of the EU's aluminium imports from Russia. Implementing this comprehensive ban is crucial for aligning the EU's actions with those of other G7 partners. A united stance...
LME aluminium opened at US$2,586 per tonne in the previous trading day, with its low and high at US$2,582 per tonne and US$2,623 per tonne, respectively, before closing at US$2,621 per tonne, up US$33 per tonne or 1.28 per cent. On Friday, May 17, both LME aluminium cash bid price and LME aluminium official settlement price went up by US$6 per tonne or 0.23 per cent and US$5.5 per tonne or 0.21 per cent to clock at US$2,543.50 per tonne and US$2,544 per tonne. As per the LME price graph , both 3-month bid price and 3-month offer price added US$3.5 per tonne or 0.13 per cent to settle at US$2,597.50 per tonne and US$2,598 per tonne. December 25 bid price and December 25 offer price hiked by US$4 per tonne or 0.14 per cent to rest at US$2,727 per tonne and US$2,732 per tonne. LME aluminium...
The Sultanate of Oman has achieved a significant trade surplus of RO 1.693 billion by the end of February 2024, marking a notable increase from the RO 1.378 billion surplus recorded during the same period in 2023. This information comes from the latest preliminary statistics the National Centre for Statistics and Information (NCSI) released. The data underscore a positive trend in Oman's trade balance, reflecting robust economic activities and possibly effective policy measures to boost trade. As Oman continues to navigate the complexities of the global economic landscape, this surplus is a testament to its resilience and strategic financial planning. The NCSI's figures highlight the Sultanate's ongoing efforts to enhance its trade performance and strengthen its economic foundation....
In a series of pivotal moves, the aluminium industry has witnessed significant developments, from tariff impositions by the United States to technological advancements by major global players. President Joe Biden's decision to increase tariffs on Chinese imports, Alba's financial results amid fluctuating LME prices, Hong Leong Investment Bank's optimistic forecasts for Press Metal, RUSAL's AI integration, and EGA's digital manufacturing initiative collectively signal a dynamic shift towards sustainability, innovation, and fair trade practices. Joe Biden's tariff strategy - Century Aluminum's response To safeguard American manufacturers against unfair trade practices, President Joe Biden has substantially increased tariffs on Chinese imports, including aluminium. The new tariffs, set at...
This week, dated May 15 and 16, Hindalco’s aluminium prices saw two consecutive days of alteration. On Wednesday, May 15, Hindalco’s aluminium prices were cut from the previous week in line with the LME aluminium price fall, while Hindalco’s prices on May 16 saw an elevation in concurrence with the LME aluminium price hike. On May 15, Hindalco trimmed its aluminium ingot price by INR 3,250 per tonne, or 1.31 per cent, to INR 244000 per tonne. As far as aluminium wire rod and billet prices were concerned, they too experienced a cut of INR 3,250 per tonne, reaching INR 261,000 per tonne and INR 258,100 per tonne, respectively. On the subsequent day, Hindalco increased its aluminium ingot price by INR 4,500 per tonne or 1.84 per cent to INR 248,500 per tonne as of May 16. Hindalco’s...
Saudi Arabia's prominent aluminium producer, Al Taiseer Group's Talco Industrial Company (Talco), is poised to take a significant step by listing a 30% stake, equivalent to 12 million shares, on the Tadawul stock exchange. This strategic move underlines Talco's growth ambitions and its pivotal role in the aluminium sector. The shares will be offered at a nominal value of SAR 10 ($2.67). The precise IPO price will be established following the book-building period, set to occur from May 20 to 23, 2024. Subsequently, the retail tranche will be available from May 28 to 29, allowing individual investors to partake in this opportunity. The Capital Market Authority, Saudi Arabia's market regulator, greenlit Talco's IPO in December 2023, paving the way for this public offering. Talco's decision...
According to the National Bureau of Statistics (NBS), China’s primary aluminium production rose 7.2 per cent from a year earlier, standing at 3.58 million tonnes. Aluminium price rally in China and across the globe drove the output hike during the said period. China’s average daily aluminium output in April was 119,333 tonnes, up by 3.05 per cent from 115,806 tonnes in March, according to Reuters calculation based on NBS data. In Yunnan, China’s fourth-biggest aluminium producing province, resumed some operations in April amid uncertain time ahead due to drought and reduced rainfall. If China’s primary aluminium production in April is calculated M-o-M, the output stood slightly less than 3.59 million tonnes Aluminium prices grew in April on potential demand growth from domestic clean...
Trimet Aluminium SE is set to boost production at its smelters in France and Germany to full capacity over the next year, signalling a recovery for the European aluminium industry amid declining energy costs. During the energy crisis, the continent's aluminium sector faced severe challenges, with over half its capacity shuttered due to soaring power prices. As one of the most energy-intensive metals to produce, the electricity cost during the crisis's peak in countries like France was more than five times higher than what smelters could earn from selling aluminium. According to Bloomberg calculations, the cost would make up approximately 25 per cent of the price, considering spot prices and the usual power requirements for aluminium production, which are about 40 times higher than those...
LME aluminium opened at US$2,596 per tonne in the previous trading day, with its low and high at US$2,563 per tonne and US$2,627 per tonne respectively before closing at US$2,588 per tonne, down 0.46 per cent. As per the London Metal Exchange market , on Thursday, May 16, the LME aluminium cash bid price and LME aluminium official settlement increased by US$8.50 per tonne or 0.34 per cent and US$9 per tonne or 0.35 per cent to halt at US$2,537.50 per tonne and US$2,538.50 per tonne. On the same day, the 3-month bid price and 3-month offer price spiked by US$19 per tonne or 0.74 per cent and US$17.50 per tonne or 0.68 per cent to arrive at US$2,594 per tonne and US$2,594.50 per tonne. The December 25 bid price and December 25 offer price expanded by US$8 per tonne or 0.29 per cent to rest...
Aluminium Bahrain B.S.C. (Alba) has posted an uptick in its operational performance but a downfall in financial results for the first quarter (Q1) of 2024 ended March 31. The company’s profits and comprehensive income decreased year-on-year despite increased production and sales. Financial output As Alba announced, its Q1 2024 profit stood at BD24.5 million (US$65 million), reflecting a 48 per cent year-on-year decrease from BD47.5 million (US$126.2 million). The company’s basic and diluted earnings per share were fils 17 during Q1 2024 versus fils 34 a year ago. Total comprehensive income for Q1 2024 amounted to BD27.7 million (US$73.6 million), down by 25.34 per cent from BD37.1 million (US$98.7 million) during Q1 2023. Gross Profit came in at BD57.3 million (US$152.3 million) during Q1...
PT Indonesia Asahan Aluminum (Inalum) has once again proven its mettle by securing accolades at the 2024 BUMN Entrepreneurial Marketing Awards. Recognised as The Most Promising Company in Tactical Marketing in the Silver category, Inalum's success is a testament to its commitment to the aluminium industry at both domestic and global levels. Inalum's Executive Vice President Group Commercial and Supply Chain Management Gusti Fauzi M Gafli on stage Inalum's Business Development Director, Melati Sarnita, acknowledged this achievement as a reflection of the relentless efforts of the entire Inalum team. "This award symbolises the hard work and dedication of all Inalum employees in strengthening our company across various dimensions," Sarnita expressed in a statement. She extended gratitude to...
In response to the United States' decision to hike tariffs on Chinese aluminium and steel, Canada has made a firm commitment to shield its market from becoming a secondary channel for diverted Chinese products. As the U.S. increases tariffs on specific Chinese imports to 25% from 7.5%, affecting over $1 billion worth of goods, Canada vows to protect its industry from the potential influx. Navpreet Chhatwal, communications adviser for Finance Minister Chrystia Freeland, emphasised Canada's robust trade-remedy system, designed to thwart dumped and subsidised imports. This measure aims to safeguard Canadian workers and the aluminium sector from unfair competition. Although Freeland's office is still evaluating the American tariffs, they have not ruled out further actions to prevent market...
LME aluminium opened at US$2,550.5 per tonne in the previous trading day, with its low and high at US$2,539 per tonne and US$2,620 per tonne respectively before closing at US$2,600 per tonne, up 1.92 per cent. As per the LME data, on Wednesday, May 15, both LME aluminium cash bid price and LME aluminium official settlement expanded by US$52 per tonne or 2.09 per cent to clock at US$2,529 per tonne and US$2,529.50 per tonne. On the same day, both 3-month bid price and 3-month offer price hiked by US$39 per tonne or 1.53 per cent to peg at US$2,575 per tonne and US$2,577 per tonne. December 25 bid price and December 25 offer price grew by US$40 per tonne or 1.49 per cent to rest at US$2,715 per tonne and US$2,720 per tonne. LME aluminium opening stock came in at 1033450 tonnes. Live...
United States President Joe Biden has reportedly increased tariffs on Chinese electric vehicles, batteries, steel, solar cells, and aluminium, aiming to protect American manufacturers from unfair trade practices and prices and paving the way for a more competitive domestic market. As per the report, the Biden-led US government has imposed a 100 per cent tariff on electric vehicles, a 50 per cent tariff on semiconductors, and a 25 per cent tariff on electric vehicle batteries from China. Addressing the nation from the White House, Biden said China should not be allowed to control the United States automobile market. He rather seeks fair competition with China. The President alleged that over the years, the Chinese government poured money into a wide range of industries, including aluminium...
