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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Ajay Goel, a seasoned finance expert, has re-assumed the role of Chief Financial Officer at Vedanta Ltd. This development comes at a pivotal juncture as the mining and metal conglomerate, under the helm of billionaire Anil Agarwal, embarks on an ambitious business restructuring initiative. The appointment follows the resignation of Sonal Shrivastava, who had taken on the role only a few months ago. In a stock exchange filing, Vedanta officially announced Goel's appointment as CFO, effective October 30, 2023. It was announced that Ajay Goel's return to the company is a part of Vedanta's organized re-hiring program. Goel holds national rankings as both a Chartered Accountant and a Company Secretary, boasting extensive experience in leadership roles at renowned global multinational...
Century Aluminum of South Carolina, a subsidiary of Century Aluminum Company listed on NASDAQ as CENX, has recently publicised the finalisation and approval of a new three-year power contract for the Mt. Holly aluminium smelter. The contract, which has been approved by all necessary parties, including the South Carolina Public Service Authority (also known as Santee Cooper), is set to commence on January 1, 2024, and will span through December 2026. The contract is designed to provide the smelter with 295MW of electric power, which will enable the facility to continue running at its current capacity. This is great news for the aluminium industry and a significant boost for the South Carolina economy. Century Aluminum's President and Chief Executive Officer, Jesse Gary, commented: "We are...
LME aluminium opened at US$2181.5 per tonne on Monday, with its low and high at US$2162 per tonne and US$2189 per tonne, respectively, before closing at US$2176 per tonne, down 0.18 per cent. On Monday, October 23, LME aluminium cash bid price and LME aluminium official settlement price dropped by US$7 per tonne or 0.32 per cent and US$7.5 per tonne or 0.34 per cent to score at US$2,144 per tonne and US$2,144.50 per tonne. 3-month bid price and 3-month offer price went down by US$5 per tonne and US$4 per tonne to clock at US$2,172 per tonne and US$2,174 per tonne. December 24 bid price and December 24 offer price descended by US$10 per tonne or 0.43 per cent to rest at US$2,293 per tonne and US$2,298 per tonne. LME aluminium opening stock came in at 486450 tonnes. Live warrants and...
World’s primary aluminium production in September 2023 amounted to 5.871 million tonnes, reflecting a month-on-month fall of 2.97 per cent from 6.051 million tonnes, found the International Aluminium Institute. The output fell after two consecutive months of rise. The last downfall in world’s primary aluminium production was in June when it declined by 3.02 per cent from 5.922 million tonnes to 5.743 million tonnes. On a year-on-year calculation, world’s September primary aluminium output stood 1.91 per cent lower than 5.716 million tonnes. The daily average production in the said month was 195,700 tonnes, down by 500 tonnes from 195,200 tonnes a month ago but up by 5,200 tonnes from 190,500 tonnes a year earlier. World’s total production of primary aluminium during January-September 2023...
LME aluminum opened at US$2,188 per tonne last Friday, with its low and high at US$2,169 per tonne and US$2,190.50 per tonne, respectively, before closing at US$2,180 per tonne, a drop of US$10 per tonne or 0.46 per cent. On Friday, October 22, LME aluminium cash bid price and LME aluminium official settlement price grew slightly by US$1 per tonne and US$1.50 per tonne, respectively, to stand at US$2,151 per tonne and US$2,152 per tonne. 3-month bid price and 3-month offer price inched up by US$0.50 per tonne and US$1 per tonne to peg at US$2,177 per tonne and US$2,178 per tonne. December-24 bid price and December-24 offer price rose by US$3 per tonne to close the week at US$2,303 per tonne and US$2,308 per tonne. LME aluminium opening stock dropped 2,000 tonnes to settle at 488,450...
The primary aluminium sector has been extremely busy this week, with the state-controlled Egyptian Aluminium Company (Egyptalum) extending the deadline for its smelter expansion project by one month. The new submission deadline is 12 November, instead of the initial date of 12 October, following requests from the bidding firms for more time. The Qinghai Branch of China Aluminium Company (Chinalco) has produced its first batch of high-quality 99.85 per cent aluminium ingots of green electrolytic aluminium. The first order was for 5,000 tonnes and was delivered 20 days later to East and South China consumers. The LME aluminium benchmark price has shown a Week-on-Week slump of US$11 per tonne or 0.5 per cent, from US$2,161.50 per tonne on October 16 to US$ 2,150.50 per tonne on October 19....
Despite the enduring crisis in the building and construction sector, the robust demand from China's electric vehicles (EV) and renewable energy (RE) sectors has contributed to an upswing in the demand for aluminium, as reported by ING Think. Chinese aluminium prices have shown more resilience than global prices for most of this year. While London Metal Exchange (LME) aluminium prices have experienced an over 8 per cent decline this year, prices on the Shanghai Futures Exchange (SHFE) have risen by around 1 per cent year-to-date. The continuous demand for aluminium in China has remained steadfast throughout the year, driven by the growing demand from the green sector, despite the nation's lacklustre economic recovery. China experienced a surge in the inflow of aluminium due to an arbitrage...
LME aluminum opened at US$2,193.50 per tonne on Thursday, with its high and low at US$2,195.50 per tonne and US$2,178.50 per tonne, respectively, before closing at US$2,190.50 per tonne, an increase of US$1.5 per tonne or 0.07 per cent. On Thursday, October 19, LME aluminium cash bid price and LME aluminium offer settlement price suffered a loss of US$26 per tonne to stand at US$2,150 per tonne and US$2,150.50 per tonne, respectively, following an intermittent hike of US$28 per tonne to US$2,176 per tonne and US$2,176.50 per tonne. 3-month bid price and 3-month offer price settled at US$2,176.50 per tonne and US$2,177 per tonne, down by US$8.50 per tonne from US$2,185 per tonne and US$2,185.50 per tonne. December-24 bid price and December-24 offer price also registered a downfall on...
According to the Shanghai Metals Market, China’s social inventories of aluminium billet stands at 107,200 tonnes as of Thursday, October 19, reflecting a week-on-week fall of 5,600 tonnes from 112,800 tonnes. From Monday, October 16, inventories fell by 3,000 tonnes from 110,200 tonnes. The fall in inventories this week could be attributed to higher consumption and slower arrivals of stocks to warehouses. To know the current status of aluminium billet inventories across China, refer to the chart below: As the above chart indicates, aluminium billet inventories in Foshan and Huzhou have experienced a fall of 2,000 tonnes to stand at 47,700 tonnes and 22,000 tonnes, respectively, on October 19. In Wuxi and Nanchang, inventories have dropped by 1,300 tonnes and 1,000 tonnes, respectively, to...
Change is the only constant thing in life one can be sure about. Change is everywhere, from the weather around us to our daily schedule to even the leadership in a company. Effective leadership plays a crucial role in achieving an organisation's success, given the inevitability of change within the business context. Adopting a culture characterised by resilience and adaptation can provide a team with the capacity to effectively navigate unforeseen crises, organisational transformations, dynamic market circumstances, and cultural fluctuations. During the past few months, top companies like LME, Tubex, Reynaers, etc, across the aluminium value chain have witnessed many changes in their leadership. Change in leadership or appointing new people in an organisation also ensures a new outlook or...
The Russian aluminium industry leader is currently evaluating potential shutdown options for a number of its unprofitable facilities due to the combination of low aluminium prices and financial setbacks resulting from the implementation of an "exchange rate" export duty, as reported by Interfax, the Moscow headquartered Russian news agency. Interfax has received information from an undisclosed source indicating that the closure of unprofitable production facilities is unavoidable in light of the current prices on the aluminium exchange. The aluminium powerhouse has yet to officially respond to inquiries regarding the potential closure of several of its plants. However, a representative from one of its stakeholders, holding a 25.72 per cent stake in the aluminium company, stated that the...
In Q3 2023, Alcoa Corporation delivered noteworthy results, with increased third-party shipments, enhanced cash flow, and significant achievements. Highlights: They increased third-party alumina shipments by 11 per cent and aluminium by 1 per cent sequentially. A cash balance of $926 million was reached by the end of the quarter. A quarterly cash dividend of $0.10 per share, totalling $18 million, was paid. Progress was made in securing approvals for Western Australia mine plans. Multiple production records were achieved in the Canadian smelting system. A cost reduction program was initiated at the Kwinana refinery in Australia. Greater market penetration was achieved for Alcoa's Sustana™ line of low-carbon products. William F. Oplinger, Alcoa's President and CEO, emphasised their...
Aluminium Bahrain B.S.C. (Alba), one of the world’s largest and smartest smelters, has recorded zero heat-related illnesses and injuries across its operations for the seventh consecutive year in 2023. This is regarded as a remarkable achievement in the aluminium industry. Alba took various means to keep its employees and contractors safe during the challenging summer. They introduced hydration surveys, conducted heat awareness sessions and workshops, distributed cooling cloths to personnel to keep their body temperature cool in hot environments, and administered plant-wide summer safety campaigns and mini-safety campaigns throughout the year. In addition, Alba kept sharing Wet Bulb Globe Temperature (WBGT) index management and communication four times a day during the hot summer months to...
LME aluminium opened at US$2,180 per tonne on Wednesday, with its high and low at US$2,199 per tonne and US$2,178.5 per tonne, respectively, before closing at US$2,189 per tonne, an increase of US$12 per tonne or 0.55 per cent. The LME aluminium live price chart on October 19 witnessed heightening aluminium price trends, with the LME aluminium cash bid price and the LME aluminium official price rising by US$28 per tonne or 1.3 per cent to officially close at US$2,176 per tonne and US$2,176.50 per tonne. If the aluminium price on October 18, last year, is considered, we can calculate a Year-on-Year drop of US$24 per tonne or 1.09 per cent. London Metal Exchange graph displayed that the 3-month bid price and the 3-month offer price have gathered US$15 per tonne or 0.69 per cent to stop at...
Shenyang Aluminum and Magnesium Institute Technology Company (SAMTC) recently completed the wireless communication project for the multifunctional crown block at Shaanxi Nonferrous Yulin Electrolytic Aluminium Factory. The project utilized a new generation of industrial communication technology, incorporating 5GHz fast mobile roaming wireless technology. This implementation achieved dual-channel wireless hot standby redundant communication for a multifunctional crown block in an electrolysis workshop. The result is a novel and reliable mobile communication solution for mobile operating equipment, including multifunctional units. This project addresses several issues encountered in the 24 multifunctional crown blocks at Shaanxi Nonferrous Yulin Electrolytic Aluminium Factory. These issues...
Aluminium has been one of the key industries in the Gulf Cooperation Council since Manama commissioned the 12,000 tonnes a year of Aluminium Bahrain (Alba) smelter with a diversification agenda. The GCC has benefitted heavily from low-priced energy, which is otherwise cost-intensive for aluminium production. Over the years, Alba has become one of the world's biggest and smartest aluminium producers, with several significant expansions and revamps. In parallel with Alba, more aluminium producers have emerged over the years and achieved important milestones as a result of robust investments by other GCC countries. In the first eight months of 2023, the Gulf Cooperation Council has produced 4.07 million tonnes of primary aluminium, standing only behind China and Europe. The output stood 0.74...
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. A table indicates the aluminium inventories measured in tonnes at the major ports: Ports September 2023 August 2023 September 2022 Yokohama 153,000 160,200 157,600 Nagoya 175,700 179,700 203,100 Osaka 19,600 20,800 19,000 Total 348,300 360,700 379,700 Japan, the world's third-largest economy, depends on imported aluminium to meet its demand due to limitations in domestic production, however, Japan's estimated per capita aluminium consumption has reached 13 kilograms annually. In 2022, the nation's aluminium imports surged to an impressive...
The aluminium associations of the United States, Europe, Canada, and Japan applaud the Organisation for Economic Cooperation and Development's (OECD) new research, 'The climate implications of government support in aluminium smelting and steelmaking'. The research investigates existing government assistance to aluminium smelting and steelmaking companies. It discovers that assistance has increased output and greenhouse gas (GHG) emissions in both sectors and transferred production to less efficient and higher GHG emitting plants, primarily in China and India. The research additionally emphasises the anticipated advantages of alternative support measures aimed at promoting the advancement and implementation of novel climate technologies crucial for achieving global net zero emissions (NZE)...
