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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The global mining and metal giant Rio Tinto has selected Bold Baatar as the new Chief Commercial Officer. He will oversee the company's global commercial and business development endeavours. This appointment follows Alf Barrios' decision to retire. Bold, currently serving as Chief Executive Copper, will promptly assume responsibility for business development and transition to Chief Commercial Officer on September 1, 2024, relocating to Singapore. The successor for the position of Chief Executive Copper will be announced in the near future. Alf will remain as Chief Commercial Officer until August's conclusion to facilitate a seamless transition. Subsequently, he will assume the role of Chair for China, Japan, and Korea and serve as an Executive Committee member until his retirement at the...
LME aluminum opened at US$2,435 per tonne last Friday, with its high and low at US$2,455.50 per tonne and US$2,418.50 per tonne respectively before closing at US$2,451 per tonne, an increase of US$6 per tonne or 0.25 per cent. The London Metal Exchange graph registered slightly declining prices on April 5, last Friday, with the LME aluminium cash bid and the LME aluminium official price losing US$3.50 per tonne or 0.15 per cent to close at US$2,390.50 per tonne and US$2,391 per tonne, respectively. On a Month-on-Month scale, there has been a rise of US$200 per tonne, or 9.12 per cent, from US$2,191 per tonne recorded on March 5. The LME 3-month bid price and the LME 3-month offer price have marked a decrease of US$7 per tonne or 0.29 per cent, to settle at US$2,432 per tonne and US$2,433...
On Monday, April 8, China’s A00 aluminium ingot price expanded by RMB 360 per tonne to settle at RMB 20,110 per tonne. The spot contract price is expected to be traded at a discount price of RMB 110 per tonne to RMB 70 per tonne. The average prices may range between RMB 20,090 per tonne and RMB 20,130 per tonne. The domestic aluminium ingot price on M-o-M calculation has shot up by RMB 950 per tonne from RMB 19,160 per tonne recorded on March 8. As of today, the prices have shown growth in all the provinces, with the highest in Shenyang, where they have surged by RMB 420 per tonne to arrive at RMB 20,070 per tonne. This was followed by a hike of RMB 390 per tonne in Tianjin to RMB 20,110 per tonne. In Foshan and Chongqing, the A00 aluminium ingot prices have surged by RMB 370 per tonne...
At the Chinalco Group headquarters on March 24, Chairman Duan Xiangdong met with Jakob Stausholm, CEO of the Rio Tinto Group, and his accompanying delegation. The discussions were thorough, emphasising the enhancement of practical collaboration to attain mutually advantageous growth. India's diversified natural resources firm Vedanta Limited disclosed its operational results for Q4 FY2024 and the full year on Thursday, April 4. The company unveiled production figures for both aluminium and alumina. Vedanta reported that its aluminium output volume for Q4 FY2024, concluding on March 31, reached 598,000 tonnes. This marked a 4% year-on-year rise from 574,000 tonnes. Press Metal Aluminium Holdings Berhad, a Malaysian-based integrated aluminium producer, is expected to report a greater net...
The London Metal Exchange (LME) witnessed significant price surges across base metals following optimistic macroeconomic reports from China, with all metals marking gains by Wednesday, 3 March. Three-month aluminium futures showed a modest uptick of 2 per cent to reach $2,429 per tonne (t), while nickel exhibited a 1.8 per cent rise to $17,339 per tonne. Copper prices settled at $9,262 per tonne, and zinc experienced a notable increase of 2.7 per cent to $2,548 per tonne. Lead prices also climbed by 3 per cent to $2,082 per tonne. Meanwhile, stocks at LME-registered warehouses displayed a mix of trends during this period. Prices of non-ferrous metals In Delhi, spot prices for ADC12 alloy ingots surged by INR 2,000 per tonne (t) to reach INR 213,000 per tonne. Tensions in offers were noted...
Press Metal Aluminium Holdings Berhad, a Malaysian-based integrated producer of aluminium, is likely to register a higher net profit for the first quarter (Q1) of 2024, in support of higher spot prices of the metal, notwithstanding volatile production costs. Maybank Investment Bank Bhd (MaybankIB) estimates Press Metal's core earnings for Q1 2024 between RM315 million and RM365 million. In the previous quarter (Q4 FY2023), the company's core earnings totalled RM328.4 million. The bank has projected this increased quarter-on-quarter earnings based on the uptrend of the aluminium spot price on the London Metal Exchange at the average of US$2,243 per tonne in Q1 2024. "Our 1Q24E core net profit estimate implies that PMETAL's earnings would come in at 22-25 per cent of our revised financial...
Aluminium showed strong performance yesterday, supported by factors like higher premiums in Japan and better-than-expected economic data from China, which countered worries about reduced demand from the world's largest consumer. Additionally, encouraging news from U.S. manufacturing, showing expansion for the first time in 1 1/2 years, added to the optimism surrounding demand outlooks. On Thursday, April 4, both LME aluminium cash bid price and LME aluminium official settlement price surged by US$60.5 per tonne or 2.59 per cent to settle at US$2,394 per tonne and US$2,394.50 per tonne. 3-month bid price and 3-month offer price expanded by US$61 per tonne to halt at US$2,439 per tonne and US$2,440 per tonne. December 25 bid price and December 25 offer price hiked by US$38 per tonne or 1.47...
On Thursday, April 4, India's diversified natural resources firm Vedanta Limited announced its Q4 FY2024 and full-year operational results, revealing both aluminium and alumina output volume. Aluminium production Vedanta said its aluminium production in Q4 FY2024, which ended March 31, stood at 598,000 tonnes, reflecting a 4 per cent year-on-year increase from 574,000 tonnes. However, on a quarter-on-quarter calculation, Vedanta's aluminium production in Q4 FY2024 recorded a slight dip of 1,000 tonnes from 599,000 tonnes, the highest quarterly output ever. Nevertheless, Vedanta's total aluminium production in FY2024 grew annually by 3 per cent from 2.291 million tonnes to 2.37 million tonnes. The Group stated today that it aims to increase its aluminium production capacity to 3 million...
According to the data released by the International Aluminium Institute (IAI), the total primary aluminium production in North and South America combined was 438,000 tonnes in February 2024, of which South America accounted for only 27.40 per cent. In contrast, North America produced the lion's share of 72.6 per cent. Aluminium demand, driven by individual sectors (source AAC) If we compare this year's production for January and February with the last quarter of 2023, we can find that only 65.5 per cent, or 904,000 tonnes, was achieved. The total haul for Q4 2023 was 1.38 million tonnes. Month-on-Month comparison On a month-on-month scale, North America's primary aluminium production has dipped 21,000 tonnes, or 6.19 per cent, from 339,000 tonnes in January 2024 to 318,000 tonnes in...
On Wednesday, April 3, LME aluminium cash bid price and LME aluminium official settlement price hiked by US$11.5 per tonne or 0.49 per cent to stand at US$2,333.50 per tonne and US$2,334 per tonne. As per the LME data, 3-month bid price and 3-month offer price hiked by US$15.5 per tonne or 0.65 per cent and US$17 per tonne or 0.71 per cent to clock at US$2,378 per tonne and US$2,380 per tonne. December 25 bid price and December 25 offer price gained US$17 per tonne or 0.66 per cent to peg at US$2,580 per tonne and US$2,585 per tonne. LME aluminium opening stock came in at 541350 tonnes. Live warrants and Cancelled warrants settled at 326475 tonnes and 214875 tonnes. LME aluminium 3-month Asian Reference Price expanded by US$23.98 per tonne or 1.01 per cent to halt at US$2,378.44 per...
On Wednesday, April 3, National Aluminium Company’s stock price (NALCO) reached a 52-week high in the wake of highest-ever production of aluminium, record excavation of bauxite, and best ever metal sale, surpassing all previous records since inception. According to the report, NALCO’s share price stood at INR 176.20 on BSE following the PSU’s FY2024 result announcement. The share price marked a jump of 6.05 per cent from the closing price of INR 166.15 on the previous day. On Wednesday, April 3, NALCO’s stock opened at INR 167.20. The PSU’s stock traded higher by 4.91 per cent, or INR 8.15, at INR 174.30 at 11:57 am on Wednesday. On Tuesday, April 2, NALCO announced that it achieved a record-breaking primary aluminium production of 4,63,428 tonnes, utilising its annual nameplate capacity...
Alcoa Brasil announced Daniel Santos as the company's new president and vice-president of Operations. The executive will have the challenge of commanding more than 15 thousand employees in the three operating units, located in Juruti (PA), Alumar (MA) and Poços de Caldas (MG), boosting operational and economic performance and increasing competitiveness in national markets. and international. Former CEO of Mineração Taboca and with experience at Companhia Siderúrgica Nacional (CSN) and Anglo American, Daniel Santos will replace Walmer Rocha, Director of Operations at Alumar (MA), who assumed the position on an interim basis following the retirement of Otavio Carvalheira in December 2023. Based in São Paulo, the new president also serves as a key member of the leadership team for the...
The Make it in the Emirates (MIITE) Forum 2024, under the patronage of esteemed UAE leadership, heralds a new era of industrial advancement and sustainability. With an array of strategic partnerships and sponsorships, including key players like Emirates Global Aluminium (EGA), the stage is set to propel the nation towards its ambitious goals of industrial growth and global leadership. Sixteen sponsorship agreements were recently inked in the presence of luminaries such as Dr. Sultan Al Jaber and Sarah Al Amiri, underscoring the commitment towards fostering investment, sustainability, and growth. The collaboration between the MoIAT or Ministry of Industry and Advanced Technology, Abu Dhabi Department of Economic Development (ADDED), and Abu Dhabi National Oil Company (ADNOC) epitomises the...
National Aluminium Company Ltd. (NALCO), the country’s leading manufacturer and exporter of alumina and aluminium, set new production and sales records for FY23-24. The company has achieved its: highest-ever cast metal production of 4,63,428 tonnes highest-ever bauxite excavation of 76,00,230 tonnes the highest-ever metal sale of 4,70,108 tonnes This new milestone has surpassed all the previous records since its inception. In FY 23-24, the company also added a new aluminium alloy ingot (AL-59) to its product range. With an impressive 101.15 per cent capacity utilisation, NALCO's alumina refinery has produced 21,24,000 tonnes of alumina hydrate, while the captive power plant has generated a gross of 7193.62 million units of power. Noteworthy achievements include developing and...
The US Census Bureau data showed that the country's domestic primary aluminium production marked a slight slowdown at the beginning of 2024. The year began by continuing the downtrend of 2023 when the US primary aluminium production amounted to 750,000 tonnes compared to 861,000 tonnes in 2022. According to the USGS data, in January 2024, the United States produced 63,000 tonnes of primary aluminium, reflecting a drop of 1,000 tonnes from the previous month. On an annual basis, the output in January 2024 also saw a decline of 1,000 tonnes. The continuous shutdown and operation cuts of aluminium smelters in the United States could be attributed to the fall in domestic production. At present, Alcoa's two potlines out of three at Warrick smelter are operative, Century's Hawesville is...
The price of aluminium on the LME experienced a gradual upward trend throughout March 2024, fluctuating within a range of approximately USD$85-90. Similarly, the SHFE price also increased slightly, hovering around USD$65-70, albeit with considerable fluctuations. However, according to a research report by AL Circle titled "Global Aluminium Industry Outlook 2024," expectations were set at the beginning of the year. It projected a resemblance of the price trend in H1 2024 to that of 2023, with anticipation mounting for H2 2024. This anticipation stems from forecasts suggesting a surge in demand for aluminium during the latter half of the year, fuelled by potential economic recovery in global markets after a period of deceleration. When the United States and China engage in economic...
LME aluminium opened at US$2,342 per tonne in the previous trading day, with its high and low at US$2,387.50 per tonne and US$2,332 per tonne, respectively, before closing at US$2,372 per tonne, up US$35 per tonne or 1.5 per cent. The London Metal Exchange was temporarily out of action for the Good Friday holidays and it has just resumed on April 2, with the LME cash bid price and the LME official price expanding by US$52.50 per tonne or 2.31 per cent from US$2,269.50 per tonne and US$2,270 per tonne recorded on March 28. Yesterday, the LME cash bid price stood at US$2,322 per tonne and the LME official price halted at US$2,322.50 per tonne. The LME 3-month bid price was priced at US$2,362.50 per tonne, and the LME 3-month offer price stopped at US$2,363 per tonne, with a spike of...
On March 24, at the headquarters of the Chinalco Group, Chairman Duan Xiangdong hosted a meeting with Jakob Stausholm, CEO of the Rio Tinto Group, along with his accompanying delegation. The discussions were extensive, focusing on advancing practical collaboration to achieve mutually beneficial growth. The collaboration between Chinalco Group and Rio Tinto Group has entered a new phase in history. As Chinalco Group's largest single shareholder, this partnership fosters mutual learning and synergy between the two entities. It holds significant importance for the organised and sustainable development of the global aluminium industry. About the meeting In recent days, extensive exchanges and discussions have occurred between the two parties regarding the specifics of project cooperation,...
