Odisha has handed over more than 7,000 acres of land for the Adani Group-International Resources Holding (IRH) joint venture’s proposed USD 11.5 billion integrated aluminium complex. This covers planned alumina refining, aluminium smelting and downstream manufacturing facilities across Sundargarh...
Futures: The most-traded SHFE aluminium 2610 contract closed at RMB 24,000 per tonne, down RMB 190 from yesterday's settlement price, a decline of 0.79 per cent. It opened at RMB 24,100.00 per tonne during the day and fluctuated within a range of RMB 23,920-24,100 per tonne. The price traded below...
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The aluminium industry is witnessing significant transformations in 2024, characterised by impressive financial gains, strategic energy agreements, and innovative financial solutions. Companies like Press Metal Aluminium Bhd and New Zealand Aluminium Smelters are navigating complex global trade...
The Shanghai Metals Market has witnessed a massive slump of RMB 470 per tonne today, closing at RMB 21,240 per tonne, with the average prices hovering between RMB 21,220 per tonne and RMB 21,260 per tonne. The eight main provinces in China have all seen a stark downtrend in aluminium prices, with...
New Zealand Aluminium Smelters (NZAS) has secured the future of the Tiwai Point smelter with new 20-year electricity agreements. These arrangements ensure the smelter's ability to competitively produce high-purity, low-carbon aluminium powered by a diverse mix of renewable energy sources from New...
The three-month LME aluminium opened at US$2,787.50 per tonne and reached a high of US$2,799 per tonne and a low of US$2,683 per tonne before closing at US$2,705 per tonne, down US$89 per tonne or 3.19 per cent. On Thursday, May 30, the LME aluminium cash bid price and LME aluminium official...
The Malaysian aluminium giant, Press Metal Aluminium Bhd, has demonstrated a remarkable financial performance in the first quarter of 2024, propelled by increased sales volumes and a favourable exchange rate. This impressive growth is propelled by a significant rise in both net profit and revenue,...
On the previous trading day, LME aluminium opened at US$2,732 per tonne, reaching a high of US$2,798 per tonne and a low of US$2,724 per tonne, and closed at US$2,794 per tonne, up US$62 per tonne, an increase of 2.27 per cent. The London Metal Exchange market has witnessed escalating prices this...
According to the Shanghai Metals Market survey, China's A00 aluminium ingot price has surged by RMB 640 per tonne to clock at RMB 21,710 per tonne. The spot contract price is expected to be traded at a discount price of RMB 170 to RMB 130 per tonne, whereas the average prices may range between RMB...
On May 27, 2024, SMM reported that China's social inventory of aluminium ingots stood at 781,000 tonnes, with 655,000 tonnes available for sale. This marked an increase of 14,000 tonnes from the previous week and a significant year-over-year rise of 160,000 tonnes. Regarding cargo pick-up, only...
According to a recent report, Japanese buyers received a premium offer of $175 per tonne from a global producer for the June-September quarter primary metal shipments. The news came after three sources directly involved in quarterly pricing talks reported as anonymous individuals. The latest offer...
The Shanghai Metals Market has witnessed a rise of RMB 40 per tonne today, closing at RMB 21,070 per tonne, with the average prices hovering between RMB 21,050 per tonne and RMB 21,090 per tonne. On a week-on-week scale, there has been a drop of RMB 20 per tonne from RMB 21,090 per tonne recorded...
Russian commodities firms, grappling with the challenges of executing financial transactions with their Chinese counterparts, have turned to a new opportunity for a solution - stablecoins, as reported by Bloomberg. A stablecoin is a cryptocurrency that maintains a fixed value by being linked to a...
LME aluminium opened at US$2,667 per tonne in the previous trading session, reaching a high of US$2,741.5 per tonne, a low of US$2,667 per tonne, and closed at US$2,732 per tonne, up US$74 per tonne or 2.78 per cent. On Tuesday, May 28, both LME aluminium cash bid price and LME aluminium official...
Africa’s primary aluminium production in April 2024 reflected a bearish trend compared to the previous month as well as year, found the International Aluminium Institute (IAI). The month-on-month decline in April 2024 brought Africa’s primary aluminium output close to the production volume in...
Today, on May 28, the Shanghai Futures Exchange (SHFE) aluminium benchmark price has inched up by US$29 per tonne or 1 per cent to anchor at US$2,923 per tonne. The most-traded SHFE 2407 aluminium contract opened at RMB 20,925 per tonne, reached a high of RMB 21,215 per tonne, a low of RMB 20,925...
The latest data revealed by Marubeni Corporation, a prominent Japanese integrated trading and investment business conglomerate, indicates a month-on-month and a year-on-year fall in aluminium stocks across the three major Japanese ports at the end of April 2024. There have been increasingly evident...
On Monday, May 27, National Aluminium Company Limited (NALCO), a state-owned Navratna CPSE under the Ministry of Mines, announced strong fiscal results for the fourth quarter and full year of FY2023-24, driven by a robust growth trajectory in production and sales. NALCO reported that its Q4 net...
On Tuesday, May 28, China’s A00 aluminium ingot price gained RMB 150 per tonne to settle at RMB 21,030 per tonne. The spot contract price is expected to be traded at a discount of RMB 140 to RMB 100 per tonne. The average prices may orbit between RMB 21,010 per tonne and RMB 21,050 per tonne....
Hindalco Industries has reported impressive performance metrics for the January to March 2024 quarter, showcasing strong margins and volumes across its aluminium and copper business segments. The company's aluminium upstream earnings before interest, taxes, depreciation, and amortisation (EBITDA)...
