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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Rio Tinto has announced the appointment of Bold Baatar as Chief Commercial Officer, succeeding Alf Barrios, who is set to retire. The Red Sea ship attacks have led to global shipping companies rerouting via the Cape of Good Hope, disrupting European automotive production reliant on Asian imports. Aluminium prices surged to a 14-month high, hitting $2,480.50 per tonne on the London Metal Exchange (LME), driven by robust investor confidence in the global economy. Vedanta Limited has recently increased its aluminium selling prices, marking a 6% surge since April. Turkey and Israel have announced trade barriers against each other, with Turkey imposing immediate restrictions on the export of 54 product types to Israel, including aluminium. The LME aluminium benchmark price grew by US$52 per...
The US and UK have implemented fresh limitations on trading Russian aluminium, copper, and nickel, causing ripples throughout global metal markets, as reported by Bloomberg. New regulations have been imposed, barring the delivery of fresh supplies from Russia to the London Metal Exchange (LME) and the Chicago Mercantile Exchange (CME). These restrictions encompass copper, nickel, and aluminium manufactured on or after April 13. The United States is also enforcing a ban on Russian imports of these three metals. Despite these measures, Russia is likely to be able to sell its metals, as the sanctions do not impede non-US individuals and entities from purchasing Russian copper, nickel, or aluminium. While the LME holds significant influence in setting global prices, most metal transactions...
Japan aluminium premiums for the April-June quarter (Q2 2024) shipments are agreed upon at $145-148 per tonne, reported six sources directly involved in pricing talks. The figures are settled lower than the initial offerings of $145-155 per tonne but record a substantial growth of $61 to 64 per cent from $90 per tonne of premiums in the first quarter of the year. The significant uptick in Q2 premiums could be attributed to demand dynamics and tight supplies of aluminium in the domestic market. Despite port inventories exceeding 300,000 tonnes, supply constraints are becoming increasingly evident. In 2023, Japan’s aluminium imports were 26 per cent less year-on-year due to sluggish domestic demand, which has now led to supply constraints. Japan’s agreed premiums for quarterly primary...
LME aluminium opened at US$2,463 per tonne in the previous trading day, with its high and low at US$2,482 per tonne and US$2,443 per tonne respectively before closing at US$2,457 per tonne, down US$14 per tonne or 0.57 per cent. The London Metal Exchange graph registered descending prices on April 11, with the LME aluminium cash bid and the LME aluminium official price losing US$19.50 per tonne or 0.8 per cent and US$18 per tonne or 0.74 per cent to close at US$2,409.50 per tonne and US$2,410.50 per tonne, respectively. The LME 3-month bid price and the LME 3-month offer price have marked a decrease of US$26 per tonne or 1.05 per cent and US$24 per tonne or 0.97 per cent, to settle at US$2,459 per tonne and US$2,460 per tonne. The LME 25-December bid price and the 25-December offer price...
China’s A00 aluminium ingot price gains RMB 260 per tonne to settle at RMB 20,560 per tonne, with average prices between RMB 20,540 per tonne and RMB 20,580 per tonne. The spot contract price may be traded at a discount price of RMB 20 per tonne to a premium price of RMB 20 per tonne. On M-o-M scale the domestic aluminium ingot price skyrocketed by RMB 1,430 per tonne from RMB 19,130 per tonne recorded on March 12. As of today, the prices have shown growth in the entire province. To begin with, the prices in Linyi and Gongyi have surged by RMB 310 per tonne and RMB 270 per tonne, settling at RMB 20,610 per tonne and RMB 20,520 per tonne. On the same day, the prices in Wuxi and Hangzhou have hiked by RMB 260 per tonne to peg at RMB 20,560 per tonne, followed by an ascend of RMB 240 per...
On Monday, April 8th, base metal prices on the London Metal Exchange (LME) followed an upward trajectory, buoyed by optimistic macroeconomic news from the US that exceeded expectations on the preceding Friday. Simultaneously, LME warehouse inventories saw decreases. Three-month futures for aluminium saw a modest climb of 0.4 per cent to reach $2,462 per tonne (t), while nickel prices stood at $17,875 per tonne, also showing a 0.4 per cent increase. Copper settled at $9,419 per tonne, and zinc experienced a 0.9 per cent uptick, reaching $2,663 per tonne. Lead prices saw a rise of 0.6 per cent to $2,136 per tonne. Metal prices surge amid manufacturing optimism At the beginning of the quarter, copper, zinc, and aluminium prices surged, reflecting signs of a rebound in manufacturing. Both US...
According to data presented by the International Aluminium Institute (IAI), the total aluminium production in the Gulf Cooperation Council (GCC) for February 2024 decreased by 37,000 tonnes, or 6.95 per cent month over month, from 532,000 tonnes recorded in January 2024. This can be mainly attributed to the lesser number of days in February. However, if we consider December 2023, when the production was 530,000 tonnes, we can see a Month-on-Month spike of 2,000 tonnes or 0.38 per cent, suggesting profound stability in the market. The United States Geological Survey (USGS) records also suggest an uptick in US imports for consumption from the GCC. In December 2023, Bahrain exported 3,080 tonnes of crude metals and alloys to the US; Qatar contributed almost 6,890 tonnes, and the United Arab...
LME aluminium opened at US$2,459.5 per tonne in the previous trading day, with its high and low at US$2,494 per tonne and US$2,437 per tonne, respectively, before closing at US$2,471 per tonne, an increase of US$12.5 per tonne or 0.51 per cent. On Wednesday, April 10, both LME aluminium cash bid price and LME aluminium official settlement price hiked by US$38.5 per tonne or 1.61 per cent and US$26 per tonne or 1.08 per tonne to peg at US$2,429 per tonne and US$2,428.5o per tonne. As per the data, 3-month bid price and 3-month offer price expanded by US$53 per tonne or 2.17 per cent and US$51 per tonne or 2.09 per cent to halt at US$2,485 per tonne and uS$2,484 per tonne. December 25 bid price and December 25 offer price ascended by US$54 per tonne or 2.07 per cent and US$44 per tonne or...
The Red Sea ship assaults by militants have sparked concerns over potential trade disruptions, leading numerous prominent global shipping companies to redirect their vessels via the Cape of Good Hope. The European automotive sector is already feeling the effects of this crisis as it relies heavily on essential component imports from Asia. Asia, encompassing nations such as China, South Korea, and Japan, is a crucial manufacturing centre for automotive parts utilized across a spectrum of vehicles, spanning gasoline, hybrid, and electric cars. China, especially, has leveraged its cost-effectiveness and industrial clustering and has emerged as an integral link in the supply chains of European car manufacturers. However, data indicates that roughly 70 per cent of European automotive sector...
On Wednesday, aluminium prices surged to their highest levels in 14 months, alongside other industrial metals reaching new peaks. Investors flooded into the sector, driven by optimism surrounding the global economy. As per the data from MarketScreener, the benchmark three-month aluminium on the London Metal Exchange (LME) rose by 0.8 per cent to $2,480.50 per tonne by 1005 GMT, marking its strongest performance since February 10th of the previous year. LME aluminium opened at US$2,459.5 per tonne in the previous trading day, with its high and low at US$2,494 per tonne and US$2,437 per tonne respectively before closing at US$2,471 per tonne, an increase of US$12.5 per tonne or 0.51 per cent. The latest data buoyed investor sentiment, indicating a resurgence in metals demand. Manufacturing...
China Hongqiao Group Chairman Zhang Bo recently told at a conference that his company will announce its carbon goals and pathways later this year. There were no indications of what might be in the announcement, only that the company was working with several institutions and companies to develop its strategy. Hongqiao is a leader in more ways than one. Hongqiao is one of the world's largest producers of primary metal. Still, it is also taking a leadership position on secondary metal, developing assets in its traditional heartland of Shandong province. Hongqiao also led the industry in the transition to hydroelectricity on environmental grounds. The fact that Hongqiao is telegraphing its punches is likely a good thing for the environment, as it may induce other Chinese primary metal...
Amidst ongoing market fluctuations, the London Metal Exchange (LME) has reported that the share of available aluminium stocks originating from Russia remained steady at 91% in March, mirroring figures from the previous month. This data, while reflective of current market realities, underscores a consistent presence of Russian metal within LME-approved warehouses. In fact, at this moment, 40 per cent of the existing LME metals stocks are of Russian origin. For industry stakeholders, including both producers and consumers, the dominance of Russian-origin metal raises pertinent considerations with Russia's Rusal being a key competitor in the market, alongside geopolitical tensions stemming from the Ukraine-Russia crisis since 2022, there exists a discernible impact on decision-making within...
On Tuesday, amid worsening relations due to the ongoing geopolitical conflict in Gaza, Turkey and Israel each announced trade barriers against the other. Turkey, known for its criticism of Israel's military activities in the region, declared immediate restrictions on the export of 54 product types to Israel. These include aluminium, steel, construction materials, jet fuel, and chemical fertilizers. In retaliation, Israel stated it was in the process of implementing a ban on Turkish products. As a result, since November, the CEO and Founder of Aluminij, Amir Gross Kabiri, mentioned that aluminium exports to Israel from Bosnia and Herzegovina-based Company have been increasing. This growth, according to Kabiri, is due to Israeli consumers choosing not to import from Turkey during the...
Anil Agarwal-led Vedanta Limited, an Indian multinational mining company headquartered in Mumbai, published a fresh list of its aluminium selling prices, including aluminium billet and wire rod. Compared to the prices of the previous week, April 5, Vedanta’s aluminium prices rose by INR 1,750 per tonne or 0.7 percent on April 9, in line with the LME aluminium price change. Like other Indian aluminium giants, Vedanta Limited links its aluminium prices to the global benchmark price of aluminium on the London Metal Exchange. On April 9, Vedanta’s aluminium ingot price ranged between INR 234,000-254,000 per tonne versus INR 232,250-252,250 per tonne on April 5. Vedanta’s billet price came in at INR 244,500 per tonne on the same day compared to INR 242,750 per tonne last week. The latest...
ICRA stated that the anticipated European Union carbon tax would likely minimally affect domestic primary aluminium producers. The Carbon Border Adjustment Mechanism (CBAM), analogous to a carbon tax functioning as an import duty, is slated to be enforced from January 1, 2026. ICRA Limited is India's independent and professional investment information and credit rating agency. Established in 1991, it was initially named Investment Information and Credit Rating Agency of India Limited. ICRA stated, "The Carbon Border Adjustment Mechanism (CBAM) ruling on exports to the European Union (EU) will have a limited impact on the domestic primary aluminium producers. This is because the present notification covers the financial impact w.e.f. January 1, 2026, on direct process-related emissions...
According to the Shanghai Metals Market survey, China's aluminium production in March 2024 (31 calendar days) amounted to 3.555 million tonnes, bringing the country's total aluminium output in the year's first quarter to 10.45 million tonnes. On a month-on-month basis, China's aluminium production in March 2024 registered an increase of 6.66 per cent from 3.333 million tonnes. On an annual basis, the output edged a growth of 4.25 per cent from 3.41 million tonnes. Despite the M-o-M increase in China's aluminium production in March, the domestic daily output stood flat at 114,900 tonnes, suggesting the fact that China's aluminium smelters' daily operating rate recorded no growth in March. The share of aluminium liquid output rose by 9.6 per cent month-on-month and 1.4 per cent year-on-year...
China's aluminium prices hit RMB20,000/t on Monday. The main index price reached RMB20,200/t, while the spot price also crept over the line, achieving RMB20,100/t. The spot eased slightly today, but the main index price found more energy. External factors have achieved this level. The internal factors favour modest price growth, but this sustained rise—prices have been rising since the start of March—has come about because global investors are showing signs that they believe that economic recovery is here or about to arrive. In the US, the talk is about interest rates dropping from mid-year, while in Europe, a temperate winter helped ease energy prices and, therefore, inflation. This is the peak season for the demand for aluminium in China's domestic market. Or at least, it was up until...
On the recovery of downstream operating rates last week, the consumption of aluminium ingots rose leading to a decline in social inventories, found the Shanghai Metals Market. According to SMM data, the average operating rate across major aluminium processing enterprises stood at 64 per cent last week from April 1 to 5, as a result of increased operating rate of primary aluminium alloy companies and stable operating rate of aluminium wires and cables producing enterprises and aluminium extrusion firms Due to the increased consumption of aluminium ingots by downstream sectors and low arrivals of stocks to warehouses, social inventories of aluminium ingots last week dwindled by 18,000 tonnes week-on-week to amount to 847,000 tonnes, of which 721,000 tonnes was for sale. In the earlier week,...
