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 aluminium opened at US$2,570 per tonne in the previous trading day, with its high and low at US$2,620 per tonne and US$2,561.50 per tonne respectively before closing at US$2,610 per tonne, up US$23 per tonne or 0.89 per cent. The London Metal Exchange graph registered ascending prices on April 18, with the LME aluminium cash bid and the LME aluminium official price gaining US$19.50 per tonne or 0.75 per cent and US$19 per tonne or 0.74 per cent to close at US$2,599.50 per tonne and US$2,600 per tonne, respectively. Nonferrous metals prices surged on Friday, driven by concerns over Russian metal supply following sanctions. London aluminium saw its sixth consecutive weekly gain, rising 1.4 per cent to US$2,652 per tonne. The ban by the LME on Russian metal produced after April 13, in...
In an era defined by rapid technological advancements and evolving market landscapes, the global aluminium industry stands at the forefront of innovation and sustainability. Today, we are thrilled to announce the launch of " Aluminium LeaderSpeak 2024 ". This e-magazine publication is a testament to the thriving landscape of the global aluminium industry, capturing the pulse of an ever-evolving sector. AL Circle's e-Magazine, "Aluminium LeaderSpeak 2024" , represents a pivotal moment for industry leaders, experts, and enthusiasts to converge, exchange ideas, and explore the latest trends shaping the future of aluminium production, consumption, and sustainability. Industry thought leaders and visionaries have shared their insights on a variety of topics, including: Advancements in...
LME aluminium opened at US$2,550 per tonne in the previous trading day, with its high and low at US$2,597 per tonne and US$2,549 per tonne, respectively, before closing at US$2,570 per tonne, up US$10.5 per tonne or 0.41 per cent. LME aluminium prices witnessed a notable growth yesterday, propelled by the ongoing sanctions on Russian metals. These sanctions are designed to cut off a significant revenue stream for Russia, which has been supporting its military activities in Ukraine through metal exports. As per the LME data, on Wednesday, April 17, both LME aluminium cash bid price and LME aluminium official settlement price surged by US$69 per tonne or 2.74 per cent to peg at US$2,580 per tonne and US$2,581 per tonne. 3-month bid price and 3-month offer price also expanded by US$29 per...
On April 17, Rio Tinto, a British-Australian mining group, announced its 2024 first quarter production result, reporting improvements in both aluminium and bauxite businesses while remaining focused on energy-transition and sustainability. Rio Tinto posted that its aluminium output in Q1 2024 ended March 31 stood at 826,000 tonnes, up by 5 per cent year-on-year but down by 2 per cent quarter-on-quarter. The annual rise could be attributed to the recovery of Kitimat smelter to a full capacity. In early October 2023, Kitimat aluminium smelter regained its full capacity of production after a 17-month long interruption caused by a strike in 2021. The smelter attained its maximum production capacity of 432,000 tonnes of aluminium per year, marking the first instance of such achievement since...
The Russian aluminium giant RUSAL is at the forefront of digital innovation, harnessing technologies such as artificial intelligence (AI) to streamline operations from raw material extraction to product delivery. The newly announced Department of Industrial Artificial Intelligence underscores RUSAL's dedication to crafting state-of-the-art solutions for its manufacturing processes. With 18 ongoing projects, including those already integrated into industrial workflows, RUSAL is primed to revolutionise efficiency, quality, and innovation throughout its aluminium operations, setting new benchmarks within the industry. Among RUSAL's recent breakthroughs is the adoption of AI-powered video cameras in the sintering furnace at Pikalevo Alumina Refinery, which are replacing traditional cameras....
LME aluminium opened at US$2,555 per tonne in the previous trading day, with its high and low at US$2,569 per tonne and US$2,517 per tonne, respectively, before closing at US$2,559.5 per tonne, up US$11 per tonne or 0.43 per cent. On Tuesday, April 16, both LME aluminium cash bid price and LME aluminium official settlement price decreased by US$9 per tonne or 0.35 per cent and US$8.5 per tonne or 0.33 per cent to settle at US$2,511 per tonne and US$2,512 per tonne. As per the LME data, 3-month bid price and 3-month offer price dipped by US$12 per tonne or 0.47 per cent and US$13 per tonne or 0.51 per cent to settle at US$2,534 per tonne and US$2,535 per tonne. December 25 bid price and December 25 offer price went down by US$3 per tonne or 0.11 per cent to clock at US$2,677 per tonne and...
Aluminium Bahrain B.S.C. (Alba), a global leader in aluminium smelting, proudly announces its remarkable achievement in winning four esteemed National Safety Council (NSC) USA awards for 2024. This recognition highlights Alba's untainted commitment to safety, registering yet another significant milestone in its illustrious journey. Alba stands as one of the world's largest aluminium smelters, renowned for its dedication to excellence in production and safety. With a steadfast focus on maintaining the highest standards across its operations, Alba has consistently prioritised the well-being of its workforce. Safety milestones galore Alba's exemplary safety record is exemplified by its recent milestone of surpassing 16 million safe working hours without a Lost Time Injury. This achievement,...
The London Metal Exchange (LME) announced it would rule out stocking Russian aluminium produced on or after April 13 in its warehouses in accordance with the latest sanctions packages instigated by the US and British governments. The sanctions are designed to restrict Russian aluminium, copper, and nickel but are carefully tailored to minimise market turbulence. The LME has put restrictions on Russian metal produced on or after April 13, meaning the global exchange will allow the existing stocks to be traded, which is particularly significant for the industry since Russian metals accounted for over 90 per cent of warranted stocks at the end of March 2024. The ban on new metal deliveries to the LME and its US counterpart, the CME, will likely split the market for Russian metal, with the...
On April 15, the stock price of aluminium giant Alcoa soared by over 3 per cent, buoyed by a surge in aluminium prices. The uptick followed a joint announcement from the US and UK regarding fresh sanctions targeting Russian metals to keep Moscow under pressure for the Ukraine-Russia geopolitical crisis. On April 12, 2024, the UK government stated in a press release, "The London Metal Exchange (LME) and the Chicago Mercantile Exchange (CME) will no longer trade new aluminium, copper and nickel produced by Russia." In a Monday memo, Goldman Sachs' commodities research team highlighted distinctions from the 2018 sanctions, which focused on individual companies. Goldman emphasised a crucial aspect of the regulations, "Any Russian metal produced on or after April 13 cannot be delivered...
According to data revealed by the National Bureau of Statistics (NBS), China's primary aluminium production rose 7.4 per cent Y-o-Y in March 2024 to reach 3.59 million tonnes. Output increased over the year due to boosted industry profits driven by higher metal prices because of revived demand. Escalated metal prices encouraged increased operations in some of China's major aluminium-producing provinces. Besides heavy demand, aluminium prices were also supported by concerns over supply uncertainty, exacerbated by sluggish production in the southwestern province of Yunnan, a key producing area with 6.1 million tonnes of annual production capacity. China's primary aluminium production rose in March 2024 for the first time in six months, driven by increased demand for end-user products. In...
LME aluminum opened at US$2,550 per tonne on April 15, with high and low at US$2,728 per tonne and US$2,535 per tonne, respectively, before closing at US$2,548.50 per tonne, up US$63.50 per tonne or 2.55 per cent. The LME aluminium benchmark price shot up over the weekend, marking a second consecutive hike, following fresh sanctions by the United States and the United Kingdom targeting Russian metals . On Friday, April 12, Washington and London prohibited metal-trading exchanges from accepting new aluminium. Both LME aluminium cash bid price and LME aluminium official settlement price soared by US$77.50 per tonne to stand at US$2,520 per tonne and US$2,520.50 per tonne, respectively, on Monday, April 15. This exponential rise over the weekend brought the LME aluminium benchmark price...
Referring to the lead item, the team in Zibo has examined who is leading the pack for 2024 aluminium production to date in China. According to our analysis, Chinalco Group (1.8mt), Weiqiao Group (1.55mt), Xinfa Group (900kt), State Power Investment Corporation (717kt) and Oriental Hope Group (533kt) made the top five in terms of primary aluminium production. But when looking at ingot production, Hongqiao and Xinfa dropped out of the picture and were replaced by Qiya and Shenhuo. In other words, Hongqiao and Xinfa rely more on liquid metal transfers than the others at the top of the list. Overall, liquid metal transfers now represent a shade over three-quarters of all production. According to our analysis, there's still room for more direct deliveries of hot metal, especially in this peak...
China's primary aluminium industry is pouring less and enjoying it more. Liquid metal transfers increased in the first quarter of 2024. According to our research, the volume of raw metal poured into ingot dropped by about 20 per cent compared to 2023 Q1. That's despite an overall increase in primary metal output of just under 4 per cent for the same period. In 2024, many downstream companies operated through the Spring Holiday period, allowing smelters to continue directly supplying liquid metal. Smelters benefit by shipping the metal in liquid form to their customers. For customers, they don't have to remelt the metal, saving them energy and time. It's the inverse for smelters - they don't have to pour the metal into ingots and wait for the metal to cool so it can be transported. There's...
Tianshan Aluminium Group Co., Ltd., which produces and sells aluminium, aluminium products and materials, reported its 2023 annual report last week. The report revealed an operating income of RMB 28.975 billion, down 12.22 per cent year over year. The company’s net profit was RMB 2.205 billion during CY2023, which was also down Y-o-Y by 16.8 per cent. During the reporting period, Tianshan Aluminium’s aluminium production and operation were stable, with an annual electrolytic aluminium output of 1.165 million tonnes, marking a slight increase year-on-year. The company’s aluminium input production also exhibited steady growth during the said period. Tianshan’s alumina output was 2.119 million tonnes, significantly up by 37.6 per cent year-on-year. Its anode carbon production was 599,000...
LME aluminium opened at US$2,457.5 per tonne last Friday, with its high and low at US$2,512 per tonne and US$2,454 per tonne, respectively, before closing at US$2,478.5 per tonne, up US$22.5 per tonne or 0.92 per cent. On Friday, April 12, both LME aluminium cash bid price and LME aluminium official settlement price hiked by US$33 per tonne or 1.36 per cent and US$32.5 per tonne or 1.34 per cent to settle at US$2,442.50 per tonne and US$2,443 per tonne. On the same day, both 3-month bid price and 3-month offer price expanded by US$36 per tonne or 1.46 per cent to clock at US$2,495 per tonne and US$2,496 per tonne. December 25 bid price and December 25 offer price ascended by US$25 per tonne or 0.95 per cent to peg at US$2,650 per tonne and US$2,655 per tonne. LME aluminium opening stock...
According to data revealed by the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), Iran’s aluminium ingot production grew by 2,834 tonnes, or 1 per cent, on an annual basis over the financial year ended March 19, 2024 (Iran’s calendar year 1402). As per the data, Iran produced 635,000 tonnes of aluminium ingot in FY2024 compared to 632,166 tonnes in FY2023. In the preceding year, Iran’s aluminium ingot production recorded an increase of 17.36 per cent Y-o-Y. In the past eleven months, Iran’s major aluminium producers, including South Aluminum Corporation (SALCO), Iranian Aluminum Company (IRALCO), Almahdi Aluminum Company, and Iran Alumina Company, collectively produced 582,200 tonnes of aluminium ingot. Hence, it can be calculated that these four...
On April 14, 2024, CME Group announced that it had suspended aluminium produced in Russia from its platform starting April 13, 2024. This decision follows new sanctions imposed by the United States and Britain on Russia due to the geopolitical crisis with Ukraine. On April 12, 2024, the US Treasury Department and the British government jointly prohibited the London Metal Exchange (LME), which has been in operation for 147 years, and the Chicago Mercantile Exchange (CME) from accepting any fresh Russian output of aluminium, copper, and nickel starting from April 13. The CME website displayed Russian aluminium brands that may have been delisted from the warrant, a title document signifying ownership for fulfilling contracts. The CME said, "Aluminium from these brands produced prior to April...
According to the Shanghai Metals Market data on Monday, April 15, the domestic A00 aluminium ingot price has grown for the fourth consecutive day by RMB 190 per tonne to reach RMB 20,750 per tonne, the highest in more than two years. The average prices are estimated to range between RMB 20,730 per tonne and RMB 20,770 per tonne, with spot contract to be traded at a discount price of RMB 80-40 per tonne. China’s A00 aluminium ingot price has been rising since March 28, albeit a fall for an intermittent day. Over a month, the price has soared by RMB 1,570 per tonne, and over a week, it has surged by RMB 640 per tonne. In tandem with the aluminium ingot price surge, aluminium alloy (A356) price has climbed up by RMB 200 per tonne over the weekend to stand at RMB 21,350 per tonne on April 15,...
