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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China Hongqiao Group Limited, one of the world's largest aluminium producers , released the audited consolidated annual results for the Company and its subsidiaries, covering the fiscal year ending December 31, 2023. According to Antaike's statistics, global primary aluminium output reached around 70.46 million tonnes during the year, a 2.2 per cent increase from the previous year. Global consumption also rose, reaching approximately 70.14 million tonnes, reflecting a 0.9 per cent increase. Turning to China, primary aluminium production during the same period amounted to about 41.66 million tonnes, showing a 3.3 per cent year-on-year increase and constituting roughly 59.1 per cent of the world's total production. Meanwhile, China's primary aluminium consumption stood at approximately...
Egypt Aluminum, the largest aluminium producer in Egypt and one of the largest in Africa, has reportedly announced its financial results for the first nine months of FY2023-24 ended March 31. Egypt Aluminum, popularly known as Egyptalum, posted its net profit after tax surged by 33 per cent year-on-year to EGP 5.22 billion during the nine-month period, compared to EGP 3.91 billion. In the first six months of FY2024, Egypt Aluminum achieved a net profit of EGP 3.43 billion, a 101 per cent year-on-year jump from EGP 1.70 billion. The above figure suggests that Egytalum’s net profit in the third quarter of FY2024 was EGP 1.79 billion. The company’s revenue in nine months was EGP 22.46 billion, up 52 per cent Y-o-Y from EGP 14.75 billion. In the first two quarters, the revenue was EGP13.38...
LME aluminium opened at US$2,567 per tonne in the previous trading day, with its high and low at US$2,595.5 per tonne and US$2,542.5 per tonne, respectively, before closing at US$2,588 per tonne, up US$27.5 per tonne or 1.07 per cent. On Monday, April 29, both LME aluminium cash bid price and LME aluminium official settlement price dropped by US$23 per tonne or 0.89 per cent to settle at US$2,536 per tonne and US$2,536.50 per tonne. As per the LME data, both 3-month bid price and 3-month offer price dipped by US$19.5 per tonne or 0.75 per cent and US$19 per tonne or 0.73 per cent to clock at US$2,567 per tonne and US$2,568 per tonne. On the same day, December 25 bid price and December 25 offer price moved down by US$8 per tonne or 0.29 per cent to halt at US$2,680 per tonne and US$2,685...
The latest data on China's aluminum imports and exports suggest that the Country is becoming a conduit for the metal. China's imports of metal in Q1 were up by over 200 per cent compared to Q1 2023. With the open arbitrage window, bringing metal to China became quite profitable. AZ Global calculated that the typical yield was a profit of almost RMB 900/tonne. The principal suppliers of metal were Russia, India and Indonesia. Russia's role as a supplier of metal is plain to see - Russian imports were up 127 per cent to 394,000 tonnes. India's supply grew by an even bigger percentage. India recorded an almost 800 per cent growth to 80,000 tonnes. Although some Yunnan smelters were down during most of Q1, it's not as though China was in desperate need of metal. China's economy has been...
Rusal, the world’s second-largest aluminium company by primary aluminium output, has announced its financial and operational results for the full year 2023 ended December 31. The company posted that its primary aluminium production totalled 3.848 million tonnes in 2023, representing a slight growth from the previous year. The company’s bauxite and alumina production increased significantly on an annual basis to 13.376 million tonnes and 5.133 million tonnes in 2023, up by 8.6 per cent and 13.8 per cent, respectively. Along with production, Rusal’s primary aluminium and alloys sales boosted 6.6 per cent year-on-year from 3.896 million tonnes to 4.153 million tonnes, driven by the release of excess inventory accumulated at the end of 2022. However, the growth in sales was offset by the...
In the wake of the Western countries' ban on Russian aluminium, aluminium producers from the Gulf Cooperation Council expect their exports to increase to the United States and European markets. This anticipation is based on the new sanctions package imposed by the United States and the United Kingdom against Russia-made aluminium. The LME and CME also recently announced that they would rule out Russian aluminium produced on or after April 13 in a bid to limit the metal's trade on global exchanges. In this situation, GCC market analysts have identified a unique opportunity for the region to expand its international trade. Zaid Aljanabi, a principal analyst covering primary and secondary aluminium at CRU, stated, "There are more opportunities for GCC producers to gain market share with the...
LME aluminium opened at US$2,572.5 per tonne in the previous trading day, with its high and low at US$2,600.5 per tonne and US$2,555.5 per tonne respectively before closing at US$2,560.5 per tonne, down US$10.5 per tonne or 0.41 per cent. The London Metal Exchange graph on April 26, showed a decline in aluminium prices, with the LME cash bid price locking at US$2,559 per tonne, with a loss of US$27 per tonne or 1.04 per cent and the LME official price settling down at US$2,559.50 per tonne, incurring a similar plunge. The 3-month bid price and the 3-month offer price have both slumped by US$23 per tonne or 0.88 per cent to close at US$2,586.50 per tonne and US$2,587 per tonne, respectively. The 25 December bid price and the 25 December offer price both have negated US$24 per tonne or 0.88...
Sanjeev Sanyal, a member of India's Economic Advisory Council to the Prime Minister (EAC-PM), emphasised that while stagflation in the US isn't inevitable, it's a prospect India must carefully weigh. Stagflation characterises an economic state marked by a trifecta of high or increasing inflation, slowing economic growth, and steadily high unemployment. It presents a dilemma for monetary policy since actions intended to lower inflation may exacerbate unemployment. Inflation in the United States surged to its highest level in a year, reaching 3.4 per cent from January to March, a notable increase from the 1.8 per cent recorded in the previous quarter. An Indian economist and celebrated historian, Sanjeev Sanyal has played a pivotal role as a member of the Economic Advisory Council to the...
On Friday, April 26, Rusal said in its annual report that Glencore, a Swiss multinational commodity trading and mining company, bought aluminium from the Russian producer worth $1.06 billion in 2023 as part of a long-term contract. Glencore purchased Rusal’s aluminium, withstanding much pressure not to buy Russian metals. Western countries have been shunning Russia-made aluminium since the beginning of geo-political crisis between Ukraine and Russia in 2022. But there are no sanctions imposed by the western countries particularly against Rusal. The $16 billion aluminium purchase contract between Rusal and Glencore is scheduled to expire in 2025, and according to a report in March 2024, Glencore is unlikely to renew the contract . However, Glencore declined to comment on Friday whether...
From strategic partnerships to regulatory measures, the aluminium industry is navigating a landscape defined by innovation, sustainability, and geopolitical dynamics. The global aluminium sector stands at a crossroads, where innovation, collaboration, and regulatory diligence intersect to shape its trajectory. From strategic partnerships to regulatory interventions, stakeholders across the industry are navigating a dynamic landscape defined by challenges and opportunities. As the sector evolves, resilience, sustainability, and strategic foresight will be paramount in driving growth and prosperity in the aluminium industry. Regulatory response to geopolitical tensions: LME's sanctions compliance measures Amid geopolitical tensions involving Russia and Ukraine, the London Metal Exchange...
In tandem with the LME aluminium price drop from where it began this week, National Aluminium Company Limited (NALCO) has reduced its aluminium ingot and aluminium products prices, with effect from Friday, April 26. NALCO has cut its aluminium ingot and aluminium product prices by INR 5,200 per tonne from April 20. Thus, the company’s aluminium ingot price has derived at INR 252,150-255,650 per tonne as of April 26. Currently, NALCO’s aluminium wire rod and aluminium billet prices span a range of INR 261,150- 265,500 per tonne and INR 256,600-259,250 per tonne, respectively. Following a continuous growth from April 17 to April 22, reaching US$2,654 per tonne, the LME aluminium benchmark price trended down to stand at US$ 2,586.50 per tonne in the subsequent week. Hindalco and Vedanta’s...
Following the United States' command to the Mexican government to prevent China from shipping metals to the US via its ports, Mexico has announced an increase in border tariffs on many types of aluminium and aluminium products imported from China. A week ago, United States President Joe Biden tripled the 7.5 per cent tariff on Chinese aluminium and steel imports to curb the rising flow of non-eco-friendly aluminium into China. In 2023, China's aluminium and steel exports to the United States were valued at US$1.7 billion. In response to the Mexican government's implementation of border tariffs on Chinese aluminium products, Charles Johnson, president & CEO of the Aluminium Association, said in a statement: "We appreciate this important first step by the government of Mexico to tighten...
LME aluminium opened at US$2,585 per tonne yesterday, with its high and low at US$2,612 per tonne and US$2,560.5 per tonne, respectively, before closing at US$2,571 per tonne, down US$13 per tonne or 0.5 per cent. On Thursday, April 25, both LME aluminium cash bid price and LME aluminium official settlement price inched up by US$1 per tonne or 0.03 per cent to stand at US$2,586 per tonne and US$2,586.50 per tonne. As per the LME data, both 3-month bid price and 3-month offer price gone up by US$11.5 per tonne or 0.44 per cent to clock at US$2,609.50 per tonne and US$2,610 per tonne. December 25 bid price and December 25 offer price gained uS427 per tonne or 1 per cent to settle at US$2,712 per tonne and US$2,717 per tonne. LME aluminium opening stock came in at 494875 tonnes. Live...
NALCO, a leading state-owned aluminium company, has forged a significant partnership with CSIR-NGRI to enhance geophysical research. This strategic collaboration defines NALCO's commitment to innovation and sustainable practices. The Memorandum of Understanding (MoU) between Khanij Bidesh India Ltd (KABIL) and CSIR-NGRI emphasises long-term collaboration in geophysical investigations. This partnership will bolster ongoing projects related to critical and strategic minerals. The agreement encompasses various aspects of geophysical, geochemical, and geological surveys. Additionally, it involves data analysis, interpretation, and modelling, facilitating informed decision-making in resource exploration. The signing ceremony , held at the NALCO Corporate Office in Bhubaneswar , signifies a...
From the tranquil fjords of Norway to the bustling markets of China, each region's aluminium giants have navigated through turbulent waters, propelled by innovation and strategic acumen. Let's find out how the industry giants are dealing with the sudden geopolitical changes resulting in global commodity trade disruptions. Also, in this article, we will revise all the noble initiatives taken by respective organisations to reduce operational emissions. Europe: Norsk Hydro's resolve amid fiscal headwinds In the heart of Scandinavia, Norsk Hydro stands as a beacon of stability amidst fiscal challenges. Despite a dip in Q1 2024 revenue, attributed to fluctuating aluminium prices and extrusion sales volumes, Hydro remains undeterred. Bolstered by increased EBITDA from renewable energy ventures...
According to a Reuters report, Vedanta Limited expects 2.3 to 2.4 million tonnes of aluminium production in FY2024-25. By the third quarter of FY2024, Vedanta produced 1.772 million tonnes of aluminium, a 3 per cent rise year-on-year and the highest-ever output . In Q3 alone, Vedanta’s aluminium production was 599,000 tonnes, up by 6 per cent Y-o-Y and 1 per cent Q-o-Q. According to Reuters, Vedanta has also anticipated aluminium production cost for the financial year 2024-2025 at $1,625 to $1,725 per tonne. According to the 3QFY2024 results, Vedanta’s revenue during the particular period was INR 34,968 crore, up by 4 per cent Q-o-Q and Y-o-Y, driven by higher sales volume and favourable output commodity prices. The company’s EBITDA during the said period was INR 8,677 crore, up by 21 per...
The Indian primary aluminium producer, BALCO, has introduced its inaugural Bogie Open Bottom Rapid Discharge (BOBRNHSM2) Rake into its operations. This milestone signifies another stride towards fostering an effective and sustainable supply chain for acquiring vital raw materials. BALCO is part of Vedanta’s Aluminium Business, a division of Vedanta Limited, India’s largest aluminium manufacturer. However, this strategic incorporation will streamline the transportation of coal supplies via rail, eliminating the requirement for approximately 120 trucks per rake and greatly amplifying operational efficiency. Part of the Indian Railways' General Purpose Wagon Investment Scheme (GPWIS), this initiative focuses on enhancing the distribution of coal resources to improve the domestic supply chain...
To bolster Vietnam's aluminium sector, the Vietnam National Coal and Mineral Industries Group (Vinacomin) sets its sights on two exploration initiatives and five bauxite-alumina-aluminium projects in the central province of Đắk Nông. With an impressive investment projection exceeding VNĐ182 trillion (US$7.3 billion), Vinacomin's strategic focus gravitates towards the expeditious realisation of the Đắk Nông 2 aluminium electrolysis plant project by 2030. Foreseeing substantial growth, Vinacomin anticipates an annual aluminium production ranging from 0.7 to two million tonnes by 2030, augmenting revenue to VNĐ49.5 trillion and injecting VNĐ8.4 trillion into the State's coffers, thereby fortifying the local economy and fostering employment opportunities for 4,000 individuals. Looking ahead...
