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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LME aluminum opened at US$2,548 per tonne in the previous trading day, with its low and high at US$2,519 per tonne and US$2,559 per tonnes, respectively, before closing at $2,549 per tonne, up 0.28 per cent. On Tuesday, May 14, LME aluminium cash bid price and LME aluminium official settlement price decreased for the second day in a row by US$32 per tonne and US$32.50 per tonne to reach US$2,477 per tonne and US$2,477.50 per tonne, respectively. The fall in aluminium prices on LME could be attributed to the unprecedented surge in opening stocks as Trafigura, a Swiss-based commodity trader, delivered more than 400,000 tonnes of aluminum last week. The LME aluminium stocks total accumulated 425,575 tonnes of aluminium overnight, reaching more than a two-year high. 3-month bid price and...
According to the Shanghai Metals Market survey, China’s primary aluminium production in April 2024 (30 calendar days) recorded a month-on-month decline of 1.13 per cent but a year-on-year increase of 4.93 per cent. As per the data revealed by SMM, China’s primary aluminium output in April was 3.515 million tonnes, compared to 3.555 million tonnes in March 2024 and 3.35 million tonnes in April 2023. The domestic daily production in April 2024 was 117,200 tonnes, up by 2 per cent from 114,900 tonnes in March, despite the fall in monthly production. The share of aluminium liquid output rose 1.4 per cent M-o-M and 2 per cent Y-o-Y to about 75.36 per cent. In the first four months of 2024, China’s primary aluminium production totalled 13.965 million tonnes. Changes in production capacity At...
LME aluminium opened at US$2,520.5 per tonne in the previous trading day, with its low and high at US$2,508 per tonne and US$2,556.5 per tonne respectively before closing at US$2,547.5 per tonne, up 1.07 per cent. On Monday, May 13, both LME aluminium cash bid price and LME aluminium official settlement price went down by US$5 per tonne or 0.19 per cent to clock at US$2,509 per tonne and US$2,510 per tonne. 3-month bid price and 3-month offer price dipped by US$3 per tonne or 0.11 per cent and US$4 per tonne or 0.15 per cent to settle at US$2,549 per tonne and US$2,550 per tonne. As per the LME price graph, December 25 bid price and December 25 offer price went up by US$5 per tonne or 0.18 per cent to peg at US$2,680 per tonne and US$2,685 per tonne. LME aluminium opening stock halted at...
Commodity trader Trafigura delivered more than 400,000 tonnes of aluminium to the London Metal Exchange-approved warehouses last week for lucrative financial deals, said three sources familiar with the matter to Reuters. This monumental delivery of stocks brought the LME inventories to more than a two-year high since January 2022. These stocks are subject to so-called rent share deals that allow LME-approved warehouses to share fees with companies that deliver metal to them. Delivery companies do not retain ownership of the metal but get a portion of the rent from LME as long as the stocks remain in the warehouses. According to a report on May 9, aluminium stocks on LME rose to 903,850 tonnes as 425,575 tonnes of metal had arrived in Port Klang in Malaysia, of which Swiss-based Trafigura...
Hong Leong Investment Bank Bhd (HLIB) has reportedly shared higher earnings forecasts for Press Metal Aluminium Bhd for FY2024 and FY2025. The investment bank has projected that Press Metal's earnings will increase by 7 per cent and 4 per cent, respectively, in the said years on account of anticipated increased aluminium spot price. The investment firm has also upgraded the stock to a "Buy" rating with a higher target price of RM6 from RM4.65 previously. It forecasts RM1.8 billion of Press Metal's earnings for FY2026. Hong Leong Investment Bank believes that despite the muted demand for aluminium from the building & construction sector, aluminium prices will remain steady, supported by resilient demand growth from the new electric vehicles and renewable energy sectors. Coupled with this,...
LME aluminium opened at US$2,570 per tonne last Friday, with its low and high at US$2,517 per tonne and US$2,589.50 per tonne, respectively, before closing at US$2,520 per tonne, down 1.6 per cent. On Friday, May 10, both LME aluminium cash bid price and LME aluminium official settlement price escalated by US$22 per tonne or 0.88 per cent and US$21 per tonne or 0.84 per cent to settle at US$2,514 per tonne and US$2,515 per tonne. 3-month bid price and 3-month offer price surged by US$11.50 per tonne or 0.45 per cent and US$13 per tonne or 0.51 per cent to anchor at US$2,552 per tonne and US$2,554 per tonne. December 25 bid price and December 25 offer price inched up by US$5 per tonne or 0.18 per cent to arrive at US$2,675 per tonne and US$2,680 per tonne. LME aluminium opening stock came...
In April'24, China rebounded in both exports and imports following a contraction in the previous month. This turnaround signals a positive uptick in domestic and international demand, which comes at a crucial time as Beijing grapples with various economic challenges. The data indicates that the array of policy interventions implemented over recent months may yield results by bolstering investor and consumer confidence. However, analysts remain cautious, questioning the sustainability of this trade resurgence. According to customs data released on May 9, shipments from China saw a modest 1.5 per cent year-on-year value growth last month, consistent with the projections from a Reuters survey of economists. This follows a 7.5 per cent decline in March, the first contraction since November....
On Thursday, May 9, aluminium stocks in London Metal Exchange-registered warehouses surged by 88 per cent to 903,850 tonnes, reaching the highest level since January 2022. Some sources said last month that inventories are subject to so-called rent share deals. Traders are taking Russia-made aluminium from warehouses and returning it later to profit from rule changes. Aluminium stocks rose on Thursday as 425,575 tonnes of metal arrived in Port Klang in Malaysia, according to the LME data, which also showed reverse net fresh cancellation of 137,050 tonnes in the same location. This scale of growth in LME-approved warehouses in just one day is unusual. Some traders are even calling it insane. However, the LME declined a comment request from Reuters. Amid the inventory surge, the LME...
BALCO, a renowned aluminium producer in India and a unit of Vedanta Aluminium, is committed to sustainability not only in its production processes but also in its approach to human resources. As part of its efforts to foster inclusivity, BALCO has welcomed seventeen transgender individuals into its workforce, providing them with a deep sense of belonging and identity within the company. This initiative demonstrates BALCO's dedication to diversity and creating a supportive workplace environment for all employees. From inducting seven transgender employees in 2022 to seventeen in 2024, BALCO has marked an exemplary milestone in an otherwise male-dominated industry. These employees take part in various roles, from forklift operations and store management to security positions, contributing...
In the verdant landscapes of China’s southwest, a grand quest to transform the aluminium industry into a flagbearer of sustainability encounters turbulent waters. Reuters reports on the challenges faced by major players like China Hongqiao Group amidst erratic rainfall, shifting capacities, and the quest for greener pastures. China Hongqiao Group and others embarked on a journey to Yunnan province, enticed by promises of abundant hydropower. However, as rains faltered, so did the reliability of electricity, casting shadows over the envisioned capacity shifts. Despite aspirations for low-carbon production, the hydro crunch in Yunnan compelled smelters to reduce output, hampering China’s broader energy transition efforts. Plans for new facilities face delays, with operational challenges...
LME aluminium opened at US$2,570 per tonne in the previous trading day, with its low and high at US$2570 per tonne and US$2,577 per tonne respectively before closing at US$2,573 per tonne, up 0.19 per cent. On Thursday, May 9, both LME aluminium cash bid price and LME aluminium official settlement price increased by US$5 per tonne or 0.20 per cent and US$6 per tonne or 0.24 per cent to settle at US$2,492 per tonne and US$2,494 per tonne. 3-month bid price and 3-month offer price grew by US$11.5 per tonne or 0.45 per cent and US$11 per tonne or 0.43 per cent to clock at US$2,540.50 per tonne and US$2,541 per tonne. December 25 bid price and December 25 offer price moved up by US$2 per tonne or 0.07 per cent to arrive at US$2,670 per tonne and US$2,675 per tonne. LME aluminium opening stock...
The world primary aluminium market demonstrated a modest growth trajectory in 2023 despite a few challenges like geo-political crises, inflation, economic slowdown, and high rate of bank interest. Both production and consumption of primary aluminium grew hand-in-hand, reaching approximately 70.6 million tonnes and 70.1 million tonnes, respectively. Consequently, exports saw an uptick, having China the net importer of primary metal. Notably, in 2023, China's primary aluminum imports surged by 130.7 percent from the previous year, totaling 1.543 million tonnes. In 2023, the leading exporters of primary aluminum were Canada, the Gulf Cooperation Council (GCC), Russia, India, and Australia, while the top importers included the United States of America, South Korea, China, Germany, and Japan....
In response to the continued decline of the global aluminium price on the London Metal Exchange (LME), National Aluminium Company Limited (NALCO) has further reduced its aluminium ingot and aluminium product prices, with effect from May 1, 2024. This latest cut marks the second consecutive reduction in NALCO’s aluminium selling prices. Last time, on April 26, NALCO had trimmed its aluminium prices by INR 5,200 per tonne, and subsequently with effect from May 1, NALCO slashed the prices by another INR 6,700 per tonne. Hence, the company’s aluminium ingot price is currently standing at INR 245,450-248,950 per tonne versus INR 252,150-255,650 per tonne on April 26. NALCO’s aluminium wire rod and aluminium billet prices are ranging between INR 254,450-258,800 per tonne and INR 249,900-252,550...
LME aluminium opened at US$2,547.50 per tonne in the previous trading day, with its low and high at US$2541 per tonne and US$2,550.50 per tonne respectively before closing at US$2,549.50 per tonne, up 0.18 per cent. The London Metal Exchange market showed a deflection in aluminium prices yesterday, with the LME aluminium cash bid price settling at US$2,487 per tonne and the LME aluminium official price stopping at US$2,488 per tonne with respective losses of US$25 per tonne or 0.99 per cent and US$24.50 per tonne or 0.97 per cent. On a Month-on-Month scale the LME aluminium price has soared by US$73 per tonne or 3.02 per cent from US$2,415 per tonne on April 8. The 3-month bid price and 3-month offer price subsided by US$28.50 per tonne or 1.11 per cent, to arrive at US$2,529 per tonne...
On Monday, May 6, the Shanghai Metals Market survey found the social inventories of aluminium ingot in China’s eight major consumption areas totalled 794,000 tonnes after the outflows of 88,400 tonnes, down by 29,400 tonnes week-on-week. The stocks in warehouses on May 6 were 3,000 tonnes higher compared to the pre-Labour Day holiday, as of April 30. Also, compared to the inventories during the Labour Day holidays in the last three years, the inventories this year post holidays are positioned at a higher level. Last year, after the Labour Day holiday, aluminium ingot inventories were accumulated at 46,000 tonnes, and in 2022, the inventories decreased over the holiday by 18,000 tonnes. SMM believes the accumulation of aluminium ingots in warehouses is better after the holiday, driven by...
Emirates Global Aluminium, the world's largest producer of 'premium aluminium', with smelters in Abu Dhabi and Dubai, proudly announces the graduation of over 150 young employees from its innovative learning and development platform, FURSA, within its inaugural year of launch. About FURSA FURSA, a dynamic initiative spearheaded by the EGA Youth Council in collaboration with the Learning and Development team, is a robust platform offering curated courses and immersive experiences tailored to bolster leadership, Industry 4.0, sustainability, science, and technology skills. "Upskilling and empowering the next generation of leaders at EGA is key to future-proofing our business and enhancing our competitiveness. At EGA, alongside our Learning and Development team, our Youth Council is heavily...
On April 22, Mayor Zhang Guangyong of Luliang convened a working meeting with Dong Jianxiong, the Deputy General Manager of Chinalco Group and Chairman of Chinalco Shares. Expressing gratitude on behalf of the municipal Party Committee and government, Mayor Zhang Guangyong acknowledged Chinalco Group's enduring support for Luliang's economic and social advancement, recognising their significant contributions to the city's progress. He provided a concise overview of the city, highlighting its historical significance as a revolutionary area, abundant natural resources, and status as a burgeoning development hub. Furthermore, Mayor Zhang emphasised Luliang's position as the nation's foremost producer in key sectors such as coking coal, coking, alumina, and clean-flavour liquor. Luliang's...
Fernando Garcia Martinez, vice president of operations at Mexican aluminium institute IMEDAL, said that the entire light metal supply chain is being impacted, with premiums rising, including in the United States. Under a side agreement within the United States-Mexico-Canada Agreement (USMCA), imports from Mexico are exempt from Section 232 tariffs. However, Mexico must enhance its monitoring measures and trade data reporting under this agreement. Aluminium faces new tariff Recently, Mexico announced an increase in import duties on various goods, as outlined in a decree published on April 22. Among these goods, aluminium faces new tariffs ranging from 20 to 35 per cent. As per the reports shared by Fastmarkets, the document addresses situations where international trade practices disrupt...
