A cut in US tariffs on Canadian aluminium alone is unlikely to bring down the elevated Midwest aluminium premium significantly, according to Alcoa CFO Molly Beerman, as the US still relies on imports from other countries to cover a structural supply gap. Speaking at the Jefferies Global Industrials...
Venezuela’s biggest aluminium smelter, Venalum, could be heading for a fresh start as Mercuria Energy Group Ltd. and Glencore Plc explore a potential deal that could bring new investment and operating expertise to the facility that has spent years producing only a fraction of its original capacity....
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Aluminium Bahrain (Alba), a global aluminium-producing giant, faced headwinds in 2023. Despite navigating through volatile LME prices and fluctuating premiums, Alba reported a Q4 profit of BD23.4 million ($62.2 million), a 40.7% Y-o-Y decrease from a profit of BD39.4 million (US$104.9 million) for...
On Wednesday, February 14, both LME aluminium cash bid price and LME aluminium official settlement price dropped by US$10 per tonne or 0.45 per cent to settle at US$2,193 per tonne and US$2,194 per tonne. As per the LME data , 3-month bid price and 3-month offer price fell by US$10 per tonne or...
Emirates Global Aluminium and the UAE's Artificial Intelligence, Digital Economy and Remote Work Applications office will promote the adoption of artificial intelligence (AI) across the region's industrial sectors. The news came on Wednesday, February 14, after the signing of a memorandum of...
In Russia and Eastern Europe, primary aluminium production during December 2023 stood at 345,000 tonnes, bringing the fourth quarter output to 1.02 million tonnes, according to the International Aluminium Institute. As per the data, the monthly production grew sequentially by 3.92 per cent from...
On Tuesday, February 13, both LME aluminium cash bid price and LME aluminium official settlement price continued to grow by US$16 per tonne or 0.73 per cent to settle at US$2,203 per tonne and US$2,204 per tonne, respectively. On a month-on-month basis, the LME aluminium benchmark price has...
On February 13, 2024, National Aluminium Company Ltd announced a nearly twofold increase in consolidated profit, reaching INR 470.61 crore for the December 31, 2023 quarter. Nalco's filing to BSE marks a substantial rise of around 83.6 per cent (Y-o-Y) compared to the consolidated profit of INR...
On Tuesday, February 13, Hindalco Industries Limited announced a strong double-digit growth in net profit for the third quarter of FY2024 ended December 31, 2023. As per the report, the Aditya Birla Group Company’s consolidated net profit soared 71 per cent year-on-year to amount to INR 2,331...
Vedanta Aluminium has reportedly launched an e-commerce platform called Vedanta Metal Bazaar for primary aluminium product sales. The platform will facilitate buyers with a real-time shopping experience, providing AI-based price discovery, end-to-end visibility of purchases, and in-time delivery....
According to data from the London Metal Exchange (LME) released on February 12, 2024, the proportion of aluminium stocks originating from Russia in warehouses approved by the LME remained consistent at 90 per cent throughout January. Despite some restrictions, the London Metal Exchange (LME)...
On February 12, the LME aluminium cash bid price and LME aluminium official price halted at US$2,187 per tonne and US$2,188 per tonne, with a uniform surplus of US$7.50 per tonne or 0.34 per cent. The 3-month bid price stood at US$2,214 per tonne, gaining US$2 per tonne or 0.09 per cent, while the...
One of the most critical areas determining cell life reduction and productivity over that life is the efficient sealing or lack of good sealing at the cathode bar penetrations on each cell. Engineers and product developers have worked for years to improve the sealing solutions in this critical...
A top official of Vedanta Limited has apprised that the company is close to demerging its key businesses, including aluminium, and is likely to complete the process in the next nine to twelve months. The news came after John Slaven, CEO of the aluminium business of Vedanta, said in an interview...
Sohar Aluminium Company, the first aluminium smelter in the Sultanate of Oman, will reportedly finance the construction of a building for Takaful Suhar Social Charity Team in Suhar, North Batinah. The news came on Sunday, February 11, after Sohar Aluminium inked a memorandum of understanding (MoU)...
On Friday, February 9, LME aluminium cash bid price and LME aluminium official settlement price stood at US$2,179.50 per tonne and US$2,180.50 per tonne, respectively. The latter showcased a sharp fall of US$40.50 per tonne. As per the LME data, 3-month bid price and 3-month offer price settled at...
The global aluminium market persists in navigating a convoluted landscape of factors, prolonging its journey towards a deficit more than anticipated. The industry has been ensnared in a precarious equilibrium over the previous year as the Chinese market tightens. In contrast, the primary market...
While recapitulating the week, the primary aluminium sector flashes some very important events and information. For instance, the European Union is now contemplating refraining from banning Russian aluminium imports in its next sanctions package; the Southland Chamber of Commerce is assisting Tiwai...
The United States aluminium crude metals and alloys imports in November 2023 stood at 277,000 tonnes, reflecting a fall of 11.50 per cent month-on-month from 313,000 tonnes, found the US Geological survey. In the second half of the year, November marked the second month when the US aluminium crude...
According to a report this week, the European Union will most likely back off from prohibiting Russian aluminium imports in the 13th sanctions package. Despite full consent and support from local aluminium producers in Lithuania, Latvia, Estonia, and Poland, the European Union will likely refrain...
