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 Monday, March 25, Century Aluminum announced it would get up to $500 million from the U.S. Department of Energy (DOE) Office of Clean Energy Demonstrations as part of the Industrial Demonstrations Program (IDP). Century's Green Aluminum Smelter Project will receive Bipartisan Infrastructure Law and Inflation Reduction Act funding, which is designed to demonstrate commercial-scale decarbonisation solutions to move energy-intensive industries towards net zero. Century Aluminum plans to utilise the amount for building the first new US primary aluminium smelter in 45 years, aiming at doubling the size of the current US primary aluminium industry and strengthening domestic economies and its position in the global market. The smelter will also foster domestic supply chains of a critical...
LME aluminium opened at US$2,305 per tonne in the previous trading day, with its high and low at US$2,331 per tonne and US$2,294 per tonne respectively before closing at US$2,326.5 per tonne, up US$17.5 per tonne or 0.76 per cent. Aluminium prices surged to an 11-week high on Monday due to worries about a sluggish recovery in production in China's Yunnan province. This increase was further bolstered by a positive technical outlook. On Monday, March 25, both LME aluminium cash bid price and LME aluminium official settlement price hiked by US$21 per tonne or 0.93 per cent to settle at US$2,267 per tonne and US$2,267.50 per tonne. As per the LME price graph, both 3-month bid price and 3-month offer price expanded by US$24 per tonne or 1.04 per cent to stand at US$2,318.50 per tonne and...
According to the latest statistics, China's imports of Russian aluminium have surged. China's Customs Bureau has reported that Russian imports rose to 277,000t in the first two months of this year. That represents almost 60% of all the metal imported by China in that period. Indonesia and India were the other two major suppliers of primary metal to the Middle Kingdom. China imports metal despite being the world's largest producer. There are some grades of metal that China doesn't produce; for instance, some special high-purity products are often referred to as 5N or 6N products. The N represents the number of decimal places of purity guaranteed, so 99.99999 or 99.999999 per cent purity. China also imports metal to circumvent local VAT requirements. For instance, if you are an Indian car...
The price of primary aluminium in China is slowly adding strength. The spot price rose from RMB18950/t on March 1 to RMB19250/t today. Meanwhile, the main index price was RMB18965/t on March 1, but it closed today at RMB19455/t. These rises come despite Russian metal continuing to enter the market and despite the news that some capacity in Yunnan province will restart. We are entering the golden period for metal demand, with Q2 historically the peak for consumption. It also helps that the US FED has predicted that interest rates will eventually fall. Other metals, such as copper, are showing similar moves. Will it last? It's hard to call. If Europe bans Russian metal, that would increase the amount that China is receiving. China doesn't need any further increases in supply. The summer...
According to a report on Monday, March 25, the aluminium industry in Yunnan province has encountered a significant hit due to dry weather, resulting in production cuts. China’s Yunnan province is otherwise known for its hydropower generation and supply. Beijing Capital Futures released a report this month stating that a power shortage enforced restrictions on electricity consumption since November 2023, when the dry season started, causing aluminium companies to gradually cut production. By the end of February, the report showed that local aluminium production had been reduced by about 400,000 tonnes. On Friday, March 22, the Ministry of Water Resources initiated a Level IV emergency in response to drought in Yunnan and Sichuan provinces. Some aluminium companies in Yunnan are resuming...
A tragic explosion at Juei Feng Aluminium Co., Ltd.'s plant in Kaohsiung on Saturday morning resulted in the loss of two Thai workers' lives, with six others sustaining injuries. The Kaohsiung City Fire Department officials reported that among the eight workers injured, one sadly passed away in the hospital, while another worker was found deceased at the site. About the victims The Ministry of Public Health of Thailand, represented by Cholnan Srikaew, later confirmed that the victims were two Thai nationals: a 37-year-old man from Maha Sarakham province and a 46-year-old man from Chaiyaphum province. Additionally, a 31-year-old Thai man from Bangkok sustained severe injuries and underwent surgery at a Taiwanese hospital. Thankfully, he is now in stable condition. Suspension of operation...
According to the International Aluminium Institute survey, primary aluminium production in the Gulf Cooperation Council plunged by 37,000 tonnes or 6.95 per cent month-on-month, standing at 495,000 tonnes in February 2024 (29 calendar days). The fall in Gulf primary aluminium production led to a decline in the monthly global output. In February, the world primary aluminium production stood at 5.54 million tonnes, down by 8.58 per cent from 6.06 million tonnes. However, on a year-on-year basis, primary aluminium production in the Gulf Cooperation Council stood 2.91 per cent higher than 481,000 tonnes. The combined production in the first two months was 1.03 million tonnes, which also registered a year-on-year increase of 2.39 per cent from 1.006 million tonnes. But looking at the daily...
LME aluminum opened at US$2,310 per tonne in the previous trading day, with high and low at US$2,312.50 per tonne and US$2,281 per tonne, respectively, before closing at $2,309 per tonne, unchanged from the previous trading day. On Friday, March 22, LME aluminium cash bid price and LME aluminium official settlement price shed off US$17 per tonne and US$17.50 per tonne, respectively, following a jump to an eleven-week high due to rising buying interest in China. With the latest decline, the prices derived at US$2,246 per tonne and US$2,246.50 per tonne. Even after the fall, the LME aluminium benchmark price stood week-on-week high by 1 per cent from US$2,224.50. On the same day, 3-month bid price and 3-month offer price decreased by US$17 per tonne to close the week at US$2,294.50 per...
On March 24, 2024, Kristalina Georgieva, the Managing Director of the International Monetary Fund (IMF), suggested that China could experience significantly accelerated growth by implementing a comprehensive set of pro-market reforms compared to maintaining the current status quo. In an address to the China Development Forum, Georgiaeva emphasised the importance of improving the property sector, reducing debt risks, and concentrating on domestic consumption. She said, “This additional growth would amount to a 20 per cent expansion of the real economy over the next 15 years. In today’s terms, that is like adding $3.5 trillion to the Chinese economy.” She suggested that taking decisive measures to decrease the inventory of incomplete housing and allowing more room for market-driven...
White & Case, a leading global law firm, provided legal counsel to Emirates Global Aluminium (EGA), a premium aluminium producer, in its acquisition of Leichtmetall Aluminium Gießerei Hannover GmbH (Leichtmetall), a German aluminium recycling company. EGA is set to acquire a 100 per cent stake in Leichtmetall from Leichtmetall Holding GmbH, an entity under the management of Quantum Capital Partners GmbH, an investment fund. Pending regulatory clearances, the transaction is anticipated to be completed in the first half of 2024. Located in Hanover, Leichtmetall specialises in producing high-quality aluminium , predominantly sourced from recycled materials. Employing electric smelting technology, the company melts secondary aluminium using energy derived entirely from renewable sources....
According to China customs data, China’s domestic primary aluminium imports during the first two months of 2024 amounted to 472,000 tonnes, encountering a year-on-year surge of 214.7 per cent. The primary import sources were Russia, India, Indonesia, China, Malaysia, the United Arab Emirates, and others. Among them, Russia was the highest exporter, supplying 277,000 tonnes in two months, accounting for 58.7 per cent of China’s total imports. On an annual basis, the import volume recorded an increase of 163.2 per cent. The import volume from Russia stood at approximately 161,800 tonnes and 115,400 tonnes each month. In January, the imports increased by 299.6 per cent year-on-year and 34.4 per cent month over month, accounting for 65.3 percent of the total. From India, China’s primary...
Amidst the country's lack of sufficient smelters to drive the downstream aluminium sector, Adaro Minerals aims to commence production of 250,000 tonnes of aluminium ingots by the third quarter, with plans to ramp up to full production by early 2026 at its smelter in KIPI, operated by its subsidiary Kalimantan Aluminium Industry. About the smelter A US$2 billion aluminium smelter, constructed in Kalimantan Industrial Park Indonesia (KIPI) by PT Adaro Minerals, a coking coal subsidiary of PT Adaro Energy, is set to be fully operational by the first quarter of 2026. Wito Krisnahadi, director of Adaro Minerals' subsidiary Kalimantan Aluminium Industry, stated that the company intends to sell the smelter's aluminium ingots to domestic and export markets. This move is in response to local...
The Aluminum Association, Instituto Mexicano del Aluminio, and the Aluminium Association of Canada demand the creation of a North American Aluminum Trade Committee (NAATC). On Thursday, March 21, the associations wrote a letter to trade officials in Canada, Mexico, and the United States, conveying their demand while highlighting the importance of fair aluminium trade within North America. The letter notes, “The free and fair trade of aluminum within North America has benefited our respective industries and the hundreds of thousands of well-paying manufacturing jobs they represent. We stand together in our continued commitment to the USMCA framework to set the conditions through which aluminum can be freely and fairly traded in the region. Looking ahead to the 2026 review of the USMCA, we...
LME aluminium opened at US$2,290 per tonne in the previous trading day, with its high and low at US$2,313.5 per tonne and US$2,285.5 per tonne, respectively, before closing at US$2,309 per tonne, up US$25.5 per tonne or 1.12 per cent. On Thursday, aluminium prices surged to their highest point in 11 weeks, driven by rising buying interest amidst improving demand forecasts from China, the largest metal consumer. As per the data, both LME aluminium cash bid price and LME aluminium official settlement price surged by US$32 per tonne or 1.43 per cent and US$32.5 per tonne or 1.45 per cent to settle at US$2,263 per tonne and US$2,264 per tonne. On the same day, both 3-month bid price and 3-month offer price gained US$29.5 per tonne or 1.29 per cent and US$29 per tonne or 1.27 per cent to halt...
Aluminium, ubiquitous in nature and abundant in the Earth's crust, emerges as a cornerstone of modern scientific research and technological innovation. Its versatility knows no bounds, permeating industries from aviation to renewable energy, and now, it stands poised at the forefront of ground-breaking scientific R&D endeavours. Within the intricate tapestry of scientific exploration, aluminium emerges as a resilient thread, weaving together a narrative of sustainability, efficiency, and endless possibilities. Enhancing aluminium nanoparticles for sustainable fuel production In the pursuit of eco-friendly fuel solutions, researchers at Rice University unveil a novel approach harnessing the catalytic prowess of aluminium nanoparticles. Through meticulous modifications of the oxide layer...
According to the International Aluminium Institute survey, world primary aluminium production in February 2024 (29 calendar days) amounted to 5.554 million tonnes, experiencing a decline of 8.35 per cent from 6.06 million tonnes in January. However, on a year-on-year basis, the world primary aluminium output in February edged an increase of 4.12 per cent from 5.334 million tonnes. Also, the combined production in January and February stood year-on-year higher by 3.31 per cent, from 11.234 million tonnes to 11.606 million tonnes. Since the last year, world primary aluminium production has shown a steady growth in February. The output in February 2023 encountered a hike of 2.95 per cent from 5.181 million tonnes to 5.334 million tonnes. The average daily primary aluminium production in...
The London Metal Exchange market has shown a sudden upward streak, on March 20, with the LME aluminium cash bid price closing at US$2,231 per tonne and the LME aluminium official price halting at US$2,231.50 per tonne, gaining US$29 per tonne or 1.32 per cent. If the LME aluminium price on March 20 , last year is taken into account, there can be seen a Year-on-Year minor drop of US$6 per tonne or 0.27 per cent, indicating a stable bearish pull overall with not much variation in range. As per the LME data, both 3-month bid price and 3-month offer price added US$28 per tonne or 1.24 per cent to officiate at US$2,282 per tonne and US$2,283 per tonne, respectively. On the same day, both December 25 bid price and December 25 offer price heightened by US$28 per tonne or 1.13 per cent to peg at...
According to the Shanghai Metals Market survey, China’s domestic A00 aluminium ingot price has built up by RMB 100 per tonne overnight to stand at RMB 19,340 per tonne on Thursday, March 21. The average prices are expected to range between RMB 19,320 per tonne and RMB 19,360 per tonne, with spot contract to be traded at a discount price of RMB 80-40 per tonne. On a week-on-week calculation, the ingot price today has reflected an increase of RMB 80 per tonne or 0.42 per cent from RMB 19,260 per tonne , found the Shanghai Metals Market. In Foshan, Wuxi, and Linyi, A00 aluminium ingot price has increased by RMB 100 per tonne to stand at RMB 19,300 per tonne, RMB 19,330 per tonne, and RMB 19,290 per tonne, respectively, followed by the rise of RMB 90 per tonne in Hangzhou and Gongyi to RMB...
