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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LME aluminium opened at US$2,236 per tonne yesterday, with its high and low at US$2,260.5 per tonne and US$2,231.5 per tonne respectively before closing at US$2,252 per tonne, up by US$16 per tonne or 0.72 per cent. On Monday, March 11, both LME aluminium cash bid price and LME aluminium official settlement price lost US$7 per tonne or 0.31 per cent to clock at US$2,201.50 per tonne and US$2,202 per tonne. As per the LME data, both 3-month bid price and 3-month offer price descended by US$14 per tonne or 0.62 per cent to settle at US$2,242 per tonne and US$2,243 per tonne. December 25 bid price and December 25 offer price dipped by US$15 per tonne or 0.60 per cent to peg at US$2,448 per tonne and US$2,453 per tonne. LME aluminium opening stock came in at 577675 tonnes. Live warrants and...
According to the Shanghai Metals Market survey, China’s aluminium production in February 2024 (29 calendar days) stood at 3.333 million tonnes, up by 7.81 per cent year-on-year and down by 6.43 per cent month-on-month . Despite a drop in monthly production, the daily average output stood steady at 114,900 tonnes, even in less number of days than the previous month. The decline in monthly production could be attributed to closed or reduced production at some downstream aluminium processing plants due to the Chinese New Year Holiday during February 10-15. The share of aluminium liquid output fell by 6.1 per cent month-on-month but rose 1.6 per cent year-on-year to about 64.29 per cent. The domestic aluminium ingot output came in at around 1.19 million tonnes, up by 3.21 per cent...
Aluminium Bahrain B.S.C. (Alba), one of the world’s largest aluminium smelters, has reportedly signed a Technology Services Agreement with Emirates Global Aluminium (EGA) for Reduction Line 6. The news came on Monday, March 11, after Alba’s CEO Ali Al Baqali and EGA’s CEO Abdulnasser Bin Kalban signed the agreement in the presence of top officials from both companies. As per the agreement, EGA will extend both onsite and remote assistance to Alba’s Reduction Line 6, providing technical services, monitoring services, and operational consultation. The agreement also covers operational and process audits, technical training workshops, and hands-on operation support. Alba’s Reduction Line 6 was commissioned in December 2018, and within a few years, it brought the company’s nameplate...
Implementing suitable technologies and processes and ensuring thorough emissions monitoring throughout the supply chain is imperative to achieving decarbonisation across any sector. This monitoring enables producers to pinpoint areas of concern and empowers buyers and investors to advocate for low-emission products. Nicole Labutong, a Principal of Climate Intelligence at RMI, and Wenjuan Liu, a Senior Associate of Climate Intelligence at RMI, have scrutinised the monitoring practices within the aluminium sector. To meet global targets, emissions must be reduced by 77 per cent by 2050. Transitioning from coal-fired to clean energy sources stands out as a crucial step. Founded in 1982 as Rocky Mountain Institute, RMI is an independent, non-partisan nonprofit transforming global energy...
On Sunday, March 10, Sohar Aluminium, the first aluminium smelter in the Sultanate of Oman, announced that it appointed Matt Liddy as its Business Development and Strategy Executive. Matt Liddy has joined Sohar with more than 30 years of worldwide experience in business development, smelters project development, systems improvement & support, carbon operations and industrial minerals. He also has immense experience in research & development, strategies and frameworks development, negotiation, and project studies. Before joining Sohar Aluminium, Mr Liddy was a Board Member of the company. He also worked with Rio Tinto Aluminium as a Vice President of Business Development in Kuala Lumpur, Malaysia, Brisbane, and Australia. Before that, he worked as a General Manager of Smelter Project...
LME aluminum opened at US$2,246.5 per tonne last Friday, March 8, with its high and low at US$2,267 per tonne and $2,233.50 per tonne, respectively, before closing at US$2,236 per tonne, down US$16 per tonne or 0.71 per cent. On Friday, the LME aluminium cash bid and LME aluminium official settlement price slightly dipped by US$1 per tonne to close the week at US$2,208.50 per tonne and US$2,209 per tonne, respectively, following a surge of 1.04 per cent on the previous day. On a week-on-week calculation, the LME aluminium benchmark price concluded on Friday at a higher rate of 1.17 per cent, shows the LME aluminium price chart on AL Circle . On Friday, amid the LME aluminium price drop, the 3-month bid price and 3-month offer price inched up by US$1 per tonne or US$1.50 per tonne,...
The clearing house for the London Metal Exchange, LME Clear, has appointed Claire Chapman as an Independent Non-Executive Director of the Board. Claire Chapman, a distinguished legal professional, currently serves as the General Counsel, Company Secretary, and Chief People Officer at Hargreaves Lansdown plc. With over 20 years of experience, Claire has held various General Counsel positions, including at prominent organisations such as Capita plc, Daily Mail & General Trust plc, Inchcape plc, and Thomson Reuters plc. Announcing the appointment, David Warren, Chairman of LME Clear, said: “I’m delighted to welcome Claire to the Board of Directors. She brings with her a wealth of legal, regulatory and governance expertise that will further enhance the breadth and depth of the LME Clear...
Activity in the CME's aluminium contract has significantly intensified in recent months, marked by a volume surge and a widening participant base, as the world's most recognised news media agency reported. However, it remains relatively small compared to the London Metal Exchange (LME), which maintains its position as the primary benchmark price-setter. Similarly, the Shanghai Futures Exchange (ShFE) remains the predominant futures price reference for China's substantial aluminium sector , indicating no imminent change in its status. Let us know more about CME Group Inc. CME Group Inc. provides a derivatives marketplace. The Company enables clients to trade futures, options, cash and over-the-counter (OTC) markets, optimise portfolios, and analyse data. Its exchanges offer a range of...
Prime Minister of the Republic of Kazakhstan Olzhas Bektenov recently visited several key enterprises in the Pavlodar region, such as Aluminium of Kazakhstan, KSP Steel, Kazakhstan Electrolysis Plant, Aksu Ferroalloy Plant, and Aksu Power Plant. The visit assessed the progress of implementing the instructions the Head of State, Kassym-Jomart Tokayev, gave. These instructions focus on developing export-oriented industries and technologically modernising regional enterprises. The companies mentioned play a vital role in the regional economy and make significant contributions. "It is necessary to raise the bar of production processing and continue work on technical modernisation of the enterprise, taking into account environmental requirements," said the Prime Minister. His visit to...
According to a source directly involved in pricing discussions, a Japanese aluminium buyer has agreed to pay a premium of $130 per tonne above the benchmark price for shipments scheduled from April 2024 to June 2024. This marks a significant 48 per cent increase from the previous quarter. The agreed premium surpasses the $88 per tonne paid in the October to December 2023 period and represents the second consecutive quarterly rise, reaching the highest level since the third quarter of 2018. However, it falls below the initial offers of $138-$140 made by producers the previous month. Japan, being Asia's largest importer of aluminium, sets the standard for the region with these premiums over the benchmark London Metal Exchange (LME) cash price for primary metal shipments each quarter.
Catalysts play a pivotal role in expediting chemical reactions and enhancing their efficiency. The advancement of new catalytic technologies is crucial for driving the transition towards green energy. The Rice University laboratory led by nanotechnology innovator Naomi Halas has discovered an innovative method for utilising the catalytic capabilities of aluminium nanoparticles. This involves subjecting them to high temperatures while annealing in different gas atmospheres. About the study In a study highlighted in the Proceedings of the National Academy of Sciences, researchers from Rice University and their collaborators showcased that modifying the structure of the oxide layer enveloping the particles can significantly alter their catalytic behaviour. These discoveries position...
According to the Shanghai Metals Market survey, China’s domestic A00 aluminium ingot price has further increased by RMB 110 per tonne to close the week at RMB 19,160 per tonne as of March 8. That brings the aluminium ingot price to 1.05 per cent higher week-on-week than RMB 18,960 per tonne . On a month-on-month basis, the price is up by 1.32 per cent from RMB 18,910 per tonne . Today, the average price of A00 aluminium ingot is estimated to range between RMB 19,140 per tonne and RMB 19,180 per tonne, with the spot contract traded at a discount price of RMB 60-20 per tonne. A00 aluminium ingot price across provinces In Wuxi and Hangzhou, the A00 aluminium ingot price has surged by RMB 110 per tonne to come in at RMB 19,160 per tonne, while the price in Shenyang and Tianjin has reached RMB...
On March 8, 2024, China announced that it had established stricter energy intensity targets for 2024, following its failure to meet last year's goal. As the world's largest energy consumer, China is intensifying efforts to align with its climate objectives within the five-year plan concluding in 2025. The National Development and Reform Commission (NDRC) disclosed that China aims to reduce its energy intensity, measured as the amount consumed per unit of economic growth, by 2.5 per cent in 2024. This target surpasses the previous year's goal of 2 per cent, which was not achieved, as outlined in a report unveiled at the commencement of the annual National People's Congress. Last week, China disclosed that its energy intensity decreased by a mere 0.5 per cent in 2023, failing to meet the...
LME aluminium opened at US$2,225 per tonne yesterday, with its high and low at US$2,265 per tonne and US$2,225 per tonne, respectively, before closing at US$2,252 per tonne, up by US$17 per tonne or 0.76 per cent. On Thursday, March 7, both LME aluminium cash bid price and LME aluminium official settlement price hiked by US$22.5 per tonne or 1.02 per cent to settle at US$2,209.50 per tonne and US$2,210 per tonne, respectively. As per the LME data, the 3-month bid price and 3-month offer price gained US$25 per tonne or 1.12 per cent and US$24.6 per tonne or 1.09 per cent to settle at US$2,255 per tonne and US$2,255.50 per tonne. December 25 bid price and December 25 offer price expanded by US$22 per tonne to clock at US$2,462 per tonne and US$2,467 per tonne. LME aluminium opening stock...
According to the US Geological Survey, the United States’ domestic production of primary aluminium in December 2023 stood at 64,000 tonnes, reflecting an increase of 3,000 tonnes or 4.9 per cent M-o-M from 61,000 tonnes. On a year-on-year calculation, the output remained absolutely unchanged, as per the data. The United States’ total primary aluminium production in 2023, however, experienced a downfall of 12.89 per cent from 861,000 tonnes to 750,000 tonnes. The average daily production in December 2023 was 2,060 tonnes, restrained compared to the previous year and essentially unchanged from 2,040 tonnes in November 2023. The average daily output in full-year 2023 was 2,050 tonnes per day, down by 13.14 per cent from 2,360 tonnes. The total amount of aluminium recovered from scrap in...
LME aluminum opened at US$2,226.50 per tonne on Wednesday, March 6, with high and low at US$2,243.50 per tonne and US$2,220 per tonne, respectively, before closing at US$2,223 per tonne, down US$5.5 per tonne or 0.25 per cent. On March 6, the LME aluminium cash bid price and LME aluminium official settlement price dropped by US$4 per tonne to stand at US$2,187 per tonne and US$2,187.50 per tonne, respectively, following a rise of US$9 per tonne on the previous day. The 3-month bid price and 3-month offer price dipped US$3 per tonne on March 6 to reach US$2,230 per tonne and US$2,231 per tonne. December 25 bid price and December 25 offer price also lost the same amount to settle at US$2,440 per tonne and US$2,445 per tonne, respectively. LME aluminium opening stock amounted to 581,900...
On Thursday, March 7, China’s A00 aluminium ingot price gained RMB 110 per tonne to settle at RMB 19,050 per tonne. The spot contract price is expected to be traded at a discount of RMB 60 to RMB 20 per tonne. The average prices may stand between RMB 19,030 per tonne and RMB 19,070 per tonne. On the same day, the aluminium ingot prices grew in all the provinces except in Chongqing, where they dropped by RMB 120 per tonne to halt at RMB 18,910 per tonne. As per the data, the price in Linyi has hiked by RMB 130 per tonne to clock at RMB 19,050 per tonne, followed by a growth of RMB 120 per tonne in Wuxi to arrive at RMB 19,050 per tonne. In Gongyi, Shenyang and Hangzhou, the prices have added RMB 110 per tonne to reach RMB 18,930 per tonne, RMB 19,000 per tonne and RMB 19,050 per tonne. In...
Sunil Gupta, Chief Operating Officer (COO) of Vedanta Aluminium Business, has reportedly been elected vice-chairman of the Confederation of Indian Industry (CII)'s Odisha State Council for the 2024-25 term of office. The news came after the name was announced during the CII Odisha State Annual Day 2023-24 celebration in Bhubaneswar on March 5, 2024. Sunil Gupta looks after the strategic operations of Vedanta's aluminium business across its plants at Jharsuguda, Lanjigarh, and Balco as well as the mines. With over 29 years of diverse experience, Mr Gupta has contributed immensely to achieving significant financial growth and operational efficiency, establishing the company as India's largest aluminium producer. He constantly strives to expand production, enhance the availability of bauxite...
