The London Metal Exchange (LME) aluminium price graph broke the rising streak on October 29, cooling after maintaining an upward trend for seven consecutive sessions. The session reported declines of nearly 1 per cent across the cash and near-term contracts over the October 28 close . The LME aluminium cash bid price dropped by 0.95 per cent from USD 3,100 per tonne to USD 3,070.5 per tonne. The offer price slipped from USD 3,101 per tonne to USD 3,071 per tonne, down 0.98 per cent day-on-day. Explore- Most comprehensive and forward-looking industry-focused report — Global Bauxite & Alumina Market Forecast to 2036: Supply–Demand, Trade Flows & Price Outlook The LME aluminium three-month bid slumped from USD 3,083.5 per tonne to USD 3,062 per tonne, decreasing by 0.7 per cent. The offer...
Vedanta Limited and Vedanta Aluminium Metal Limited (VAML) have posted their best second quarters (Q2) yet. Vedanta Limited’s Q2 2026 profit reached INR 6.2 billion (USD 651.22 million). Vedanta Aluminium reported profit after tax of INR 6.2 (USD 649.64 million), alongside an 83 per cent rise in EBITDA and record quarterly aluminium production of 649,000 tonnes. Here is how the Q2 FY27 metrics break down, entity by entity, and how they stack up when compared with each other. Vedanta Limited Q2 FY27: Financial performance Vedanta Limited reported an improved half-yearly performance with higher quarterly revenue, EBITDA and profit over the corresponding period of FY2026 . Financial highlights: H1 2027 and Q2 FY27 vs H1 2026 and Q2 FY26 Revenue: H1 revenue at INR 492.68 billion, up 54 per...
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On November 15, 2023, the global mining and metal giant Rio Tinto dismissed the services of Ivan Vella with immediate effect, the former head of its aluminium division, according to an email sent to all employees by CEO Jakob Stausholm and as reported by Reuters. Rio Tinto had previously announced in June 2023 that Vella, who had been with the mining giant for two decades, was scheduled to depart in December 2023. However, his next role was expected to be the CEO of IGO Ltd, an Australian battery minerals producer. He maintained his leadership in the aluminium business until Jerome Pecresse, his successor, assumed the role on October 23. Leading up to the contract termination date on November 15, Vella assisted Pecresse in transitioning to his new position. According to Reuters, the...
LME aluminium opened at US$2235 per tonne in the previous trading day, with its low and high at US$2214 per tonne and US$2244.5 per tonne, respectively, before closing at US$2224 per tonne, down US$6 per tonne or a decrease of 0.27 per cent. On November 14, the LME aluminium live price chart experienced declining aluminium prices, with the LME aluminium cash bid price and the LME aluminium official price discarding US$26.50 per tonne or 1.19 per cent to officially close at US$2,193.50 per tonne and US$2,194 per tonne. London Metal Exchange graph displayed that the 3-month bid price and the 3-month offer price dwindled by US$4 per tonne or 0.18 per cent and US$5.50 per tonne or 0.25 per cent to stop at US$2,218 per tonne and US$2,218.50 per tonne, respectively. The December 24 bid price...
On Monday, November 13, ALRO S.A., one of Europe's largest vertically integrated aluminium producers by production capacity, announced its third quarter and the consolidated nine-month results of 2023. The Group reported its net sales of RON 682.8 million for Q3, down by 7.70 per cent from RON 739.8 million during the corresponding period of the previous year. The downward trend of the average 3-month LME aluminium price at US$2,200 per tonne in Q3 2023 compared to US$2,358 per tonne was responsible for the fall in net sales. In nine months of 2023, ALRO's consolidated sales amounted to RON 2.24 billion, experiencing a fall of 20 per cent from RON 2.8 billion a year ago. The demand for aluminium also demonstrated a weaker trend but was slightly offset by the Group's diversified products...
LME aluminum opened at US$2,222.50 per tonne on Monday, with its low and high at US$2,203 per tonne and $2,235 per tonne, respectively, before closing at US$2,230 per tonne, up US$9 per tonne or 0.41 per cent. On Monday, November 13, the LME aluminium cash bid price and LME aluminium official settlement price started the week at US$2,220 per tonne and US$2,220.50 per tonne, respectively, flaunting a rise of US$15 per tonne or 0.68 per cent from US$2,205 per tonne and US$2,205.50 per tonne on November 10. The 3-month bid price and 3-month offer price amounted to US$2,222 per tonne and US$2,224 per tonne on November 13. December-24 bid price and December-24 offer price settled at US$2,340 per tonne and US$2,345 per tonne, respectively. The LME aluminium opening stock totalled 479,650...
The inventory of aluminium stocks at three prominent Japanese ports, namely Yokohama, Nagoya, and Osaka (AL-STK-JPPRT), witnessed a 2 per cent decrease, falling to 341,300 tonnes by the end of October. This decline is in comparison to the 348,300 tonnes recorded in the previous month. The data was reported by Marubeni Corp on November 13, 2023, reflecting its comprehensive collection of information from these key port locations. However, aluminium inventories at three major Japanese ports, Yokohama, Nagoya, and Osaka, as reported by Marubeni Corp on October 16, 2023, decreased by 3.4 per cent to 348,300 tonnes by the end of September, down from 360,700 tonnes in the previous month.
According to the Shanghai Metals Market survey, China’s aluminium production in October 2023 (31 calendar days) amounted to 3.641 million tonnes, flaunting a month-on-month rise of 3.35 per cent from 3.523 million tonnes. On a year-on-year calculation, the output stood 6.7 per cent higher than 3.42 million tonnes. The cumulative production during January-October 2023 stood at 34.458 million tonnes, up 3.5 per cent from a prior year. The average daily output in October’23 was slightly higher at 117,500 tonnes compared to 117,400 tonnes a month ago. However, in October, there was a decrease in production among primary aluminium processing producers such as aluminium billet, while the proportion of aluminium ingot production increased, reducing the industry’s average molten aluminium share...
Century Aluminum Company, a global primary aluminium producer with operations in the United States and Iceland, announced its third quarter results for 2023 last week, disclosing a fall of 10.97 per cent in net income attributable to Century stakeholders. Net income in Q3 2023 stood at US$13.8 million versus US$15.5 million in Q2 2023. The income fell due to lower shipments and poor aluminium prices on the London Metal Exchange. Century’s aluminium shipments in Q3 2023 were 171,995 tonnes, down by 0.95 per cent from 173,649 tonnes. Realised LME aluminium price was US$2,237 per tonne, down by $134 per tonne from the prior quarter. Century Aluminium’s net sales were recorded at US$545.2 million for Q3 2023, marking a fall of 5.26 per cent from US$575.5 million during Q2 2023. The company...
In October 2023, the proportion of aluminium stocks with Russian origins in London Metal Exchange-registered (LME) warehouses increased to 79.5 per cent, up from 76 per cent in September 2023, according to data published on the exchange's website, as reported by a world’s largest news media agency. The aggregate quantity of aluminium stocks accessible to the market within LME-registered warehouses, denoted by MALSTX-TOTAL, is commonly known as on-warrant. Warrants are official documents that convey ownership rights to the metal. The significant presence of Russian-origin metal in LME-registered stocks has raised concerns among certain producers in competition with Russian aluminium giant Rusal. Additionally, some Western consumers are avoiding Russian metal due to Moscow's invasion of...
It is time to prepare for an electrifying event as Ma’aden hosts ARABAL 2023 with the patronage of H.E. Bandar AlKhorayef, Minister of Industry and Mineral Resources for the Kingdom of Saudi Arabia. And that’s not all! Emirates Global Aluminium, the largest industrial company in the United Arab Emirates outside oil and gas, is all set to ignite the 41st International Conference and Exhibition of The International Committee for Study of Bauxite, Alumina & Aluminium (ICSOBA) in Dubai. On a serious note, Germany is on the brink of a recession due to a decline in aluminium production and other discrepancies in the commodity market. LME aluminium benchmark price began the week with a US$2,254 per tonne rate, with fluctuations over the week to drop at US$2,228 per tonne on November 9, down...
Hindalco Industries records a dip from the previous year but maintains a robust performance, positioning for growth, and announces an Rs 8,000 crore investment in a greenfield alumina refinery in Odisha. Hindalco Industries announced its second-quarter financial results for the fiscal year 2023-24, revealing a profit of Rs 2,196 crore, marking a slight decrease of 0.4 per cent from the corresponding quarter of the previous fiscal year, where it stood at Rs 2,205 crore. The revenue from operations for the quarter was reported at Rs 54,169 crore, reflecting a 3.6 per cent decrease compared to Rs 56,176 crore during the same period in the previous fiscal year. Despite the marginal dip in profit and revenue, the company showcased a robust performance, posting a consolidated EBITDA of Rs 6,096...
A recent study commissioned by New Zealand Aluminium Smelter (NZAS) indicates that the waters surrounding the Tiwai Point aluminium smelter pose minimal or no threat to both human health and marine life. NZAS is owned by Rio Tinto (80 per cent) and Sumitomo Chemical Company of Japan (20 per cent). In a statement released, NZAS reported that extensive testing conducted by consultants GHD aimed to supplement the detailed site investigation carried out in 2021, establishing baseline indicators for the smelter site. The study aimed to assess the potential adverse effects of smelter discharges on the coastal marine environment and the well-being of individuals engaging in recreational activities and food gathering in the area. According to the report, there is no heightened risk of health...
Aluminium Bahrain B.S.C. (Alba) has announced its third quarter financial results for 2023, whereby it disclosed a profit of BD17.3 million ($46 million), down by 64 per cent from the last year due to poor LME prices and lower premiums. The company’s revenue also edged a fall Y-o-Y from BD403.2 million ($1.07 billion) to BD400 million ($1.06 billion). Alba also announced the comprehensive income for Q3 2023, which stood at BD20.7 million ($55.2 million) after experiencing a plunge of 64 per cent from BD58.2 million ($154.8 million) a year ago. The gross profit was BD48.6 million ($129.3 million), down by 38 per cent Y-o-Y from BD79 million ($210.2 million). The company reported basic and diluted earnings per share of fils 12 for Q3 2023 compared to fils 34 during the same period in 2022....
LME aluminium opened at US$2261.5 per tonne on Thursday, with its low and high at US$2233 per tonne and US$2266 per tonne respectively before closing at US$2238 per tonne, down US$26 per tonne, or a decrease of 1.13 per cent. The LME aluminium live price chart , on November 9 marked an overall slump in aluminium prices, with the LME aluminium cash bid price and the LME aluminium official price dropping US$31 per tonne or 1.37 per cent and US$30.50 per tonne or 1.35 per cent to officially close at US$2,227 per tonne and US$2,228 per tonne. London Metal Exchange graph displayed that the 3-month bid price and the 3-month offer price tumbled by US$37 per tonne or 1.63 per cent and US$37.50 per tonne or 1.65 per cent to stop at US$2,236 per tonne and US$2,236.50 per tonne, respectively. The...
On Thursday, November 9, National Aluminium Company (NALCO), a Navratna CPSE Indian metal and mining company, announced its second-quarter fiscal results of FY2023-24, whereby it reported nearly 50 per cent rise in profit to INR 1.87 billion ($22.45 million) from INR 1.25 billion a year ago. Improved infrastructure carried out by the Indian Government, resulting in boosted demand for the metal produced by the state-run manufacturer, caused NALCO’s profit growth. India, one of the world’s biggest aluminium producers, has raised its budget on infrastructure ahead of general elections next year, which helped companies NALCO and its rival Hindalco Industries. As per a Reuters report, NALCO has recorded about a 14 per cent jump in pre-tax profit in the mainstay aluminium segment for Q2 FY2024,...
A disappointing data release not only hints at a potential downward revision of third-quarter GDP growth but also raises concerns that the industry-heavy German economy may enter a technical recession by the end of 2023. Germany's ongoing macroeconomic struggles persist, raising doubts among the younger generation about the last time the country witnessed a sustained period of positive macroeconomic indicators. Unfortunately, September's latest industrial production data only adds to this worrisome trend. This marks the fifth consecutive month of decline, with a month-on-month drop of 1.4 per cent, in contrast to August's meagre -0.1 per cent. Year-on-year, industrial production has slumped by 3.7 per cent, affecting all major sectors of the economy. On September 8, 2023, AL Circle...
LME aluminium opened at US$2273.5 per tonne on Wednesday, low and high at US$2262 per tonne and US$2279 per tonne, respectively, before closing at US$2264 per tonne, down US$17 per tonne or 0.07 per cent. On Thursday, November 8, both LME aluminium cash bid price and LME aluminium official settlement price grew by US$17.5 per tonne or 0.78 per cent to clock at US$2,258 per tonne and US$2,258.50 per tonne. 3-month bid price and 3-month offer price grew by US$10 per tonne or 0.44 per cent to settle at US$2,273 per tonne and US$2,274 per tonne. December 24 bid price and December 24 offer price also moved up by US$10 per tonne or 0.42 per cent to peg at US$2,383 per tonne and US$2,388 per tonne. LME aluminium opening stock came in at 461600 tonnes. Live warrants and Cancelled warrants clocked...
During the third quarter of the year, Germany witnessed a notable decrease in aluminium production, according to a report from the Aluminium Deutschland (German Aluminium Association). In the smelters, the primary aluminium production volume dropped by nearly 50 per cent, and the manufacturing of semi-finished aluminium products saw a decline in the high single-digit percentage range. Specifically, raw aluminium production decreased by 8 per cent to approximately 774,000 tonnes in the third quarter. Over the initial three quarters of the year, the total output amounted to just over 2.3 million metric tons, marking an 11 per cent decrease compared to the previous year. The production of primary aluminium saw a significant decline of 48 per cent from January to September, with smelters...
LME aluminium opened at US$2286.0 per tonne on Tuesday, with its low and high at US$2253.0 per tonne and US$2286.0 per tonne, respectively, before closing at US$2277.0 per tonne, down US$9 per tonne or 0.39 per cent. On November 7, the LME aluminium live price chart spotted slightly declining aluminium price trends, with the LME aluminium cash bid price and the LME aluminium official price dropping US$13 per tonne or 0.58 per cent to officially close at US$2,240.50 per tonne and US$2,241 per tonne. London Metal Exchange graph displayed that the 3-month bid price and the 3-month offer price plunged by US$15 per tonne or 0.66 per cent to halt at US$2,263 per tonne and US$2,264 per tonne, respectively. The December 24 bid price and the December 24 offer price have dwindled by US$9 per tonne...
