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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On March 31, Vedanta Aluminium hosted a one-day industrial safety training programme at its Jharsuguda operations in collaboration with the Directorate of Factories and Boilers, Government of Odisha. This training programme extended across diverse industrial zones within the state, aiming to promote a robust safety culture in the manufacturing industries. The eminent personalities present in the programme were Shri R.S. Gopalan, IAS Commissioner-cum-Secretary, Labour & ESI Dept., Govt. of Odisha, and Dr Malay Kumar Pradhan, Deputy Director of Factories & Boilers (Safety), Govt. of Odisha. Others who joined virtually included Shri Swaroop Jena, Deputy Director of Factories & Boilers, Sambalpur Division., Govt. of Odisha; Smt. Archana Das, Asst. Director of Factories & Boilers, Jharsuguda,...
The SHFE aluminium benchmark price has continued to grow on Tuesday, April 2, albeit at a lower rate. According to the data, the price has increased by US$3 per tonne to reach US$2,721 per tonne. Compared to the same period last year, the price is 0.33 per cent higher than US$2,712 per tonne. On a week-on-week basis, the SHFE price is up by US$13 per tonne or 0.48 per cent from US$2,708 per tonne. Overnight, the most-traded SHFE 2405 aluminium contract opened at RMB 19,760 per tonne, with its lowest and highest at RMB 19,710 per tonne and RMB 19,805 per tonne before closing at RMB 19,725 per tonne, up RMB 5 per tonne or 0.03 per cent. China’s primary aluminium domestic price has been on a rising spree for the past week. Due to dry weather, limited production in one of China’s leading...
The Shanghai Metals Market on April 1 showed considerable growth in aluminium prices, with the SMM A00 aluminium ingot price halting at RMB 19,520 per tonne, adding RMB 50 per tonne. The average prices ranged between RMB 19,500 per tonne and RMB 19,540 per tonne. The SMM aluminium price has levitated by RMB 180 per tonne or 0.93 per cent on a Week-on-Week scale from RMB 19,340 per tonne recorded in March 25. If we consider a Month-on-Month scale it can be seen that the aluminium price has risen by RMB 600 per tonne or 3.17 per cent from RMB 18,920 per tonne from RMB 18,920 per tonne on February 1. Aluminium prices rose by 0.48 per cent on March 11 due to concerns over sluggish production recovery in China's Yunnan province, which is a significant aluminium-producing region. The...
On Monday, April 1, the SHFE aluminium benchmark price has gained US$11 per tonne or 0.40 per cent to settle at US$2,718 per tonne. The most-traded SHFE 2405 aluminium contract opened at RMB 19,710 per tonne last Friday night, with its lowest and highest at RMB 19,645 per tonne and RMB 19,820 per tonne before closing at RMB 19,665 per tonne, up RMB 45 per tonne or 0.23 per cent. LME Aluminium Price On Friday, March 29, the LME market was closed during the Good Friday Holiday. However, on Thursday, March 28, both LME aluminium cash bid price and LME aluminium official settlement price hiked by US$32 per tonne or 1.43 per cent to settle at US$2,269.50 per tonne and US$2,270 per tonne. The 3-month bid price and 3-month offer price grew by US$24 per tonne or 1.05 per cent to close at US$2,310...
As the traditional peak season has set in, China’s domestic aluminium industry is making buzz with downstream processing enterprises rebounds. The purchasing sentiment is high, leading to a fall in aluminium ingot inventories at the end of March 2024, which is line with previous expectation. On Thursday, March 28, Shanghai Metals Market survey showed that the social inventories of aluminium ingots across China’s eight major consumption areas amounted to 865,000 tonnes, of which the amount for sale stood at 739,000 tonnes. The inventories were down by 5,000 tonnes from Monday, March 25, marking the first decline after the Chinese New Year holiday. The decrease occurred primarily due to the outflow of the metal. Arrivals to warehouses stood essentially steady, with a very marginal drop. In...
In the ever-evolving landscape of the aluminium industry, this weekend has been marked by a flurry of developments, ranging from life-altering innovations to sobering tragedies. National Aluminium Company (NALCO) has unveiled AL-59, a cutting-edge aluminium alloy ingot poised to redefine the conductor industry with its exceptional corrosion resistance. Meanwhile, Century Aluminum secures a monumental $500 million funding from the United States Department of Energy, propelling forward its ambitious Green Aluminum Smelter Project aimed at revitalising the nation's primary aluminium sector. However, amidst these strides towards progress, tragedy strikes at Juei Feng Aluminium Co., Ltd., as a devastating explosion claimed the lives of two Thai workers, underscoring the need for stringent...
According to a recent statement by the Investment Information and Credit Rating Agency (ICRA), domestic demand for non-ferrous metals like aluminium and copper is expected to grow 10 per cent in FY25. This expectation is based on a consistent trend in realizations and a moderated pressure on input costs. The report anticipates a healthy domestic demand growth of approximately 10 per cent for FY2025, notably surpassing the expected global demand growth of around 2 per cent. The sharp correction in Tc/Rc has adversely impacted the copper smelter margins and top Chinese smelters recently agreed to embark on production cuts at loss-making plants, without specifically highlighting the extent of the reduction,” ICRA said. Prices showed varying trends In March 2024, international prices for the...
The aluminium industry in Japan is witnessing a remarkable surge in premiums for the April to June period, with negotiations resulting in a substantial 61 per cent increase over the previous quarter. The agreed premium of $145 per tonne above the benchmark price reflects a significant uptick in demand and supply constraints, marking the first time in three quarters that premiums have surpassed the $100 per tonne milestone. Historical context – Japan’s aluminium demand Japan, Asia's largest importer of aluminium, has consistently set the standard for the region with its quarterly premiums over the London Metal Exchange (LME) cash price. Recent trends indicate a consistent upward trajectory, with premiums witnessing a notable 48 per cent increase from the preceding quarter, reaching the...
Step into the future of electrical transmission with National Aluminium Company's (NALCO) groundbreaking release: AL-59, the aluminium alloy ingot poised to transform the conductor industry. This innovative product heralds a new era in efficiency and performance, perfectly timed with the Government of India's Revamped Distribution Sector Scheme (RDSS) rollout. The product's official launch took place on 28.03.2024, with Shri Sadshiv Samantray, Director (Commercial), at the helm. The event was graced by the presence of the first customer and senior officials from NALCO's esteemed Smelter & Power complex. This alloy heralds a new era, infusing conductors with bespoke characteristics that carve a distinctive niche for our esteemed company. These Alloy Conductors made from AL-59, find...
LME aluminium opened at US$2,300.50 per tonne in the previous trading day, with its high and low at US$2,340 per tonne and US$2,292 per tonne, respectively, before closing at US$2,335 per tonne, up US$32 per tonne or 1.39 per cent. On March 28, the London Metal Exchange graph marked a noticeable rise in aluminium prices, with the LME cash bid price stopping at US$2,269.50 per tonne and the LME official benchmark price settling down at US$2,270 per tonne, increasing by US$32 per tonne or 1.43 per cent. Also, the 3-month bid and 3-month offer prices increased by US$24 per tonne, or 1.05 per cent each, to close at US$2,310 per tonne and US$2,311 per tonne. The December 25 bid and offer prices gained US$28 per tonne, or 1.12 per cent, to close at US$2,520 per tonne and US$2,525 per tonne. The...
In a bid to fortify the "New Chinalco" initiative and advance materials for new energy vehicles, Chinalco Materials Application Research Institute Co., Ltd. (Chinalco Materials Institute) and Dongfeng Motor R&D Institute engaged in a significant technical exchange on March 18th. Li Xiang, the esteemed executive director of Chinalco Materials Institute, led a delegation to Dongfeng Motor R&D Institute. Both entities delved into discussions aiming to bolster their collaboration through the Chinalco-Dongfeng aluminum alloy joint laboratory. Warm reception and strategic alignment President Tan Minqiang extended a gracious welcome, stressing the importance of mutual cooperation. Reflecting on the achievements of the joint laboratory, the two parties explored avenues for further synergy,...
Hindalco Industries Limited has updated its aluminium selling prices on two consecutive days this week in line with the LME aluminium benchmark price. On Wednesday, March 27, Hindalco increased its aluminium prices as the LME aluminium price rallied by 1.29 per cent over the two days to US$2,275.50 per tonne as of March 26. According to Hindalco’s price list for March 27, the company’s aluminium ingot price stood at INR 219,750 per tonne, experiencing an increase of INR 1,500 per tonne or 0.70 per cent from INR 218,250 per tonne on March 22. Hindalco’s aluminium wire rod and billet prices also saw a rise of INR 1,500 per tonne on the same day to come in at INR 231,750 per tonne and INR 233,850 per tonne, respectively, versus INR 230,250 per tonne and INR 232,350 per tonne on March 22. The...
The European aluminium sector has just started adapting to the energy price shrunk due to adequate inventories and ease of power consumption restrictions. According to a report, inflation-adjusted futures prices for 2024 averaged 48 euros per megawatt hour, compared to 223 euros at the height of the crisis in August 2022. But what is still causing hurdles to the market growth is passive demand and understated buying and selling sentiments, given the ongoing inflation and economic slowdown. As a result, aluminium producers are hesitant to resume their curtailed capacity, which is evident from the lacklustre growth of primary aluminium production. In addition, various other factors are perhaps threatening the growth of the European aluminium market. Vivid view to Europe’s primary aluminium...
The Shanghai Metals Market, on March 28, witnessed an overall upward streak, with the SMM A00 aluminium ingot price arriving at RMB 19,330 per tonne, experiencing RMB 60 per tonne growth. On a Week-on-Week scale there has been a slump of RMB 10 per tonne from RMB 19,340 per tonne recorded on March 21. China’s low carbon aluminium price has ascended by RMB 88 per tonne to officiate at RMB 20,202 per tonne. China’s eight significant provinces have all seen excellent growth, with the highest aluminium price of RMB 19,340 per tonne registered in Tianjin after the addition of RMB 50 per tonne. In Hangzhou, Shenyang and Linyi, the aluminium prices closed at RMB 19,330 per tonne, with RMB 80 per tonne escalation in the first two and RMB 110 per tonne increase in the last one. The aluminium price...
LME aluminium opened at US$2,303 per tonne in the previous trading day, with its high and low at US$2,309.5 per tonne and US$2,276 per tonne, respectively, before closing at US$2,303 per tonne, up US$3 per tonne or 0.13 per cent. On Wednesday, March 27, both LME aluminium cash bid price and LME aluminium official settlement price slumped by US$37.5 per tonne or 1.64 per cent to stand at US$2,237.50 per tonne and US$2,238 per tonne. 3-month bid price and 3-month offer price dropped by US$38 per tonne or 1.63 per cent and US$37.5 per tonne or 1.61 per cent to peg at US$2,286 per tonne and US$2,287 per tonne. December 25 bid price and December 25 offer price declined by US$31 per tonne or 1.22 per cent to reside at US$2,492 per tonne and US$2,497 per tonne. LME aluminium opening stock came...
Emirates Global Aluminium (EGA), the largest industrial company in the United Arab Emirates outside of the oil and gas sector, has recently inked a significant deal with SAP. This partnership aims to modernise EGA's core enterprise resource planning (ERP) system by transitioning to SAP's cutting-edge S/4HANA software. Abdulnasser Bin Kalban, Chief Executive Officer of Emirates Global Aluminium, said, "Our digital transformation is a core part of achieving EGA's bold aspiration to innovate the future of aluminium production. Leading our sector in the application of Industry 4.0 requires advanced computing and software capabilities to generate real-time data analytics and insights. The opportunities of Industry 4.0 are not just in our operations, but also in the functions through which we...
LME aluminium opened at US$2,329 per tonne yesterday, with its high and low at US$2,331 per tonne and US$2,296.5 per tonne, respectively, before closing at US$2,300 per tonne, down US$26.5 per tonne or 1.14 per cent. On March 26, the London Metal Exchange registered considerable escalations in aluminium prices and premiums, with the LME cash bid price stopping at US$2,275 per tonne and the LME offer price settling down at US$2,275.50 per tonne, with a rise of US$8 per tonne or 0.35 per cent. The LME aluminium price was at an 11-week high yesterday, and it has grown by US$135 per tonne or 6.3 per cent on a Month-on-Month scale from US$2,140.50 per tonne recorded on February 26. China’s Yunnan province has been the driving force behind this supply-demand gap and, thus, the price hike. It...
A week ago, as of March 18, China’s domestic social inventories of aluminium ingot stood at 847,000 tonnes, of which the amount for sale was 721,000 tonnes, found the Shanghai Metals Market survey. Over the weekend, inventories grew by 4,000 tonnes and stood 356,000 tonnes higher than the pre-holiday level. But despite the recent uptrend, inventories stayed at a low level for the same period of the past seven years. Nevertheless, inventories advanced towards 850,000 tonnes, as predicted before the holiday . According to SMM data, the outflow of aluminium ingots from warehouses in the fourth week after the holiday was 109,000 tonnes, down by 6,900 tonnes W-o-W, contributing primarily to the rise in inventories. One of the primary reasons behind the decreased outflow from warehouses was the...
