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 domestic China petcoke market remains relatively stable, with the usual price dips and peaks within a channel. One of the reasons why the price won't rise to previous highs is down to the enormous volumes of coke being held at port. According to the team, China currently holds as much as 4 million tonnes of petcoke at the port. The volume isn't easy to measure, as it is held in bond and is not "imported" until it is sold. Shandong province has as many as 2 million tonnes at one port alone. But how do they afford this? Imports surged at the end of 2022 when the prices were through the roof. Some of the coke sitting at the port has been there since then. That's a lot of interest charges. Monte Zhang said the first thing that happened was that the small players were no longer in the...
China will add the domestic electrolytic aluminium industry to its Emissions Trading Scheme (ETS). The China Nonferrous Metals Industry Association has been working with government departments to formulate the rules for the industry's inclusion, which is set to happen "imminently". The ETS largely covers the power industry, and although it is the world's biggest ETS, it has been subject to a fair bit of criticism since it started in 2021. The government has been working to modify some of the rules of the scheme to get better adherence. AZ Global Managing Director Monte Zhang says the move will widen the schism between the lower-carbon producers in Yunnan and the rest of the industry. Plants in Yunnan, Sichuan, and anywhere else that doesn't use coal - most of China's primary metal - will...
News has come through that the Yunnan government has released additional power units to its local aluminium industry. We understand about 500,000 tonnes of smelting capacity is allowed to re-enter the market, and local companies are now preparing their pots. But the news comes with a twist and perhaps a barb in the tail. The additional power units are being released because of lower-than-expected energy sales to Guangdong province. In other words, it's not because of additional rains. This move to release some metal capacity comes 2-3 months ahead of the normal rainy season. Consequently, local smelters are "hastening slowly" with their restart plans. AZ Global Managing Director Monte Zhang says that in his chats with the local industry, leaders have expressed some fear that the...
In a recent survey, it was established that commodity trader Glencore made significant deliveries of Russian-origin aluminium to London Metal Exchange (LME) registered warehouses in Gwangyang, South Korea. These deliveries shed light on the challenges faced by Rusal, the world's largest aluminium producer outside China, particularly as contracts for 2022 expire and concerns over the source of aluminium mount for 2023 contracts. Glencore's role in the international aluminium industry Glencore, a prominent player in the global commodities market, has been pivotal in the aluminium industry, particularly in its partnership with Rusal. This collaboration involves a long-term contract for the supply of millions of tonnes of aluminium, highlighting Glencore's significant position in the...
Vedanta Limited has revised its aluminium prices twice in only three days this week. On Tuesday, March 19, 2024, Vedanta increased its aluminium selling prices in line with the LME aluminium price growth on the two previous days, and on March 20, it cut the prices in response to the LME price change. On Tuesday, March 19, Vedanta Limited added INR 1,750 per tonne to its aluminium ingot and product prices in tandem with the LME aluminium price hike by US$19.50 per tonne in two days, during March 15-18. Thus, Vedanta’s aluminium ingot price came in at INR 217,250-223,200 per tonne, and Vedanta’s aluminium billet and wire rod prices stood at INR 224,500 per tonne and INR 224,000-231,500 per tonne, as of Tuesday, March 19. However, soon the next day, Vedanta extracted the same amount of INR...
Today marks a significant event as the iconic chimney, a fixture of the old Anglesey Aluminium site for half a century, is set to be demolished. Scheduled for Wednesday, March 20th, this demolition has garnered immense public interest. The demolition, orchestrated by Porthladd rhydd Ynys Môn (Anglesey Freeport), is meticulously planned to ensure the safety of the surrounding community while minimising disruptions. For those eager to witness this historic moment, viewing is recommended from the public footpath parallel to Parc Cybi or Beibo fields. To maintain safety standards, certain restrictions and road closures will be enforced between 1 pm and 4 pm. Access to Penrhos beaches and grassland areas north of the A5 will be restricted. The A5 will be briefly closed near Tesco's roundabout,...
Vista Metals, a market leader in the manufacturing of speciality aluminium products, is reportedly investing $60 million in a new aluminium casting facility in Bowling Green, Ohio, Kentucky, to strengthen its position as a manufacturer and supplier of speciality aluminium products in the US market. Vista Metals’ aluminium products are primarily used for manufacturing seamless rolled rings, closed die forgings, and open die forgings for the aerospace, defense, industrial, and other industries. As per the report, the company has started the initial site preparation and will soon commence the phase-wise construction. With this new investment, the company hopes to create more than 50 well-paying full-time jobs in Bowling Green. Kentucky Governor Andy Beshear said: “The growth of Kentucky’s...
On March 19, Wagstaff Inc., a Spokane, Washington-based machinery, technology and service company that enables aluminium producers to transform molten aluminium into solid shapes using ‘direct chill casting’, announced that its Chief Executive Officer (CEO), Kevin Person, would retire on March 29, 2024. The company also said that its current Vice President of Sales and Marketing, Steve Anderson, would succeed Kevin Person and serve as the new CEO. Kevin Person is a well-known personality in the aluminium manufacturing sector in Spokane for about a half century. Before serving Wagstaff for 25 years, he was associated with Kaiser Aluminum for 21 years. During his tenure in Wagstaff, Person held the titles of Vice President of Sales and Marketing and Application Engineering Manager. Under...
LME aluminium opened at $2,276.5 per tonne yesterday, with its high and low at US$2,279 per tonne and US$2,248 per tonne, respectively, before closing at US$2,269 per tonne, down US$7.5 per tonne or 0.33 per cent. On Tuesday, March 19, the LME aluminium cash bid price and LME aluminium official settlement price dropped by US$22 per tonne to settle at US$2,202 per tonne and US$2,202.50 per tonne, respectively. As per the LME data , both 3-month bid price and 3-month offer price dipped by US$18 per tonne or 0.79 per cent and US$17.5 per tonne or 0.77 per cent to clock at US$2,254 per tonne and US$2,255 per tonne. On the same day, both December 25 bid price and December 25 offer price fell by US$10 per tonne or 0.40 per cent to peg at US$2,467 per tonne and US$2,472 per tonne. LME aluminium...
According to the United States Geological Survey (USGS), the annual US import of metals and alloys, crude for consumption in 2023 amounted to 26.4 million tonnes, of which Canada represented only 8.94 per cent or 2.36 million tonnes. On a Year-on-Year basis, Canadian aluminium imports to the US declined 8.17 percent, or 21,000 tonnes, from 2.57 million tonnes recorded during December 2022. Canadian imports to the US – A 2023 analogy Canada has been the largest supplier of crude metals and alloys to the US, followed by the United Arab Emirates, Australia, Bahrain, and Argentina, which are constantly fighting for consecutive numerical positions. In September 2023, the US import of metals and alloys, crude from Canada was 2.1 million tonnes, which added 26,000 tonnes or 12.38 per cent on a...
European Aluminium, a member-based industry association representing Europe's aluminium value chain, commands the European Union to impose sanctions on aluminium supplied from Russia and exclude EU-based companies owned by Rusal. The European Union has been considering banning aluminium of Russian origin due to the geopolitical crisis between Russia and Ukraine. So far, the action has not come into effect but has not been completely discarded, given the volume of Rusal's aluminium supplies. In 2023, Rusal sold 4.2 million tonnes of aluminium, most of which was produced in Russia. Rusal also has operations in other parts of the world, such as Ireland, Sweden, Jamaica, Guinea and China, but these assets mainly produce bauxite and alumina. However, it should be noted here that European...
LME aluminium opened at US$2,272.50 per tonne yesterday, with its high and low at US$2,294 per tonne and US$2,261 per tonne respectively before closing at US$2,276.5 per tonne, down US$0.50 per tonne or 0.02 per cent. The LME aluminium official price chart on March 18 flashed a slight increase in rates, with the LME official cash bid price stopping at US$2,224 per tonne with a spike of US$6 per tonne or 0.27 per cent. The LME official settlement price parked at US$2,224.50 per tonne, having registered a similar rise. Comparison on a Y-o-Y and M-o-M scale If the LME aluminium price on March 17 last year is taken into account, we can calculate a Year-on-Year slump of 0.34 per cent. On the other hand, when we consider the price on February 19, a Month-on-Month increase of 1.81 per cent can...
Industry experts stated on Monday that aluminium smelters in China's southwestern province of Yunnan are restarting factories due to improved power availability. This development is expected to result in the restoration of approximately 500,000 tonnes of annual production. In November, smelters in this region, the fourth-largest producing area in China, were instructed by China Southern Power Grid to reduce operations due to reduced hydropower supply during the dry season. A Yunnan producer, who preferred to remain anonymous as they are not authorized to speak with the media, revealed that on Saturday, the grid operator informed producers of an allocation of an additional 800,000 kilowatt-hours (kWh) of power to the aluminium industry. As a result, smelters in the region are now...
Jiaxin New Materials Company has recently achieved a significant milestone by successfully developing and producing A356 aluminium alloy square ingots. These ingots boast exceptional physical and chemical properties, perfectly aligning with the requirements of our esteemed customers, who have widely recognized their quality. About A356 The A356 aluminium alloy square ingot is a cast aluminium-silica-magnesium alloy known for its impressive characteristics. This alloy exhibits excellent fluidity, airtightness, minimal shrinkage, and a low tendency for thermal cracking. Primarily designed for automotive, aerospace, and electronics applications, this high-strength aluminium alloy material is pivotal for various manufacturing processes. The growing emphasis on automotive lightweight...
Russian oligarch and billionaire Oleg Deripaska has criticised the pressure on Western investors to divest their Russian assets following the 2022 Ukraine-Russia geopolitical crisis. He argues that such practices are unethical, shortsighted, and counterproductive to both the Russian and global economies. In the aftermath of the Ukraine-Russia geopolitical crisis, numerous Western companies exited Russia, and some of their assets fell under state management. Remaining Western investors in Russia have reported facing coercion to sell their holdings, often at undervalued prices, and experiencing effective expropriation. The Russian edition of Forbes quoted Deripaska as saying a spokesman confirmed the remarks, "Pushing foreign companies to sell their Russian assets is dishonest,...
According to the National Bureau of Statistics (NBS), China’s primary aluminium production during January-February 2024 amounted to 7.1 million tonnes, up 5.5 per cent from the same period of the previous year. Although the combined data for two months reflect a year-on-year increase, output fell in either of these two months. The annual growth of amalgamated primary aluminium production resulted from increased profit margins. According to a Reuters report based on Antaike’s research, smelters enjoyed an average profit of RMB 1,964 per tonne in February 2024, which was 50 per cent higher than the corresponding period of the previous year. Reuters also reported that February profits decreased month-over-month due to the rally in the price of alumina, a key raw material for smelters....
LME aluminium opened at US$2,245 per tonne last Friday, with its high and low at US$2281.5 per tonne and US$2245 per tonne, respectively, before closing at US$2,277 per tonne, up US$21 per tonne or 0.93 per cent. On Friday, March 15, both LME aluminium cash bid price and LME aluminium official settlement price hiked by US$14 per tonne or 0.63 per cent and US$13 per tonne or 0.61 per cent to settle at US$2,218 per tonne and US$2,218.50 per tonne. As per the data, both 3-month bid price and 3-month offer price grew by US$16 per tonne or 0.70 per cent and US$16.5 per tonne or 0.73 per tonne to arrive at US$2,270.50 per tonne and US$2,271.50 per tonne. December 25 bid price and December 25 offer price ascended by US$17 per tonne to settle at US$2,480 per tonne and US$2,485 per tonne. On the...
In March 2024, data from the London Metal Exchange (LME) indicated that Russian aluminium stocks in registered warehouses rose to 53 per cent of the total, reaching 220,575 tonnes, up from 41 per cent in January 2024. This indicates consumers may have evaded Russian metal across various sectors such as transport, construction, and packaging, as a global news agency reported. Despite the geopolitical crisis, the world's oldest exchange and most significant market for industrial metals has refrained from banning the trading and storage of Russian metals within its system, nor has it shown any willingness, as Western sanctions on Russian base metals have not been imposed. According to sources familiar with the matter, Glencore has recently deposited tens of thousands of tonnes of Russian...
