The proposed USD 4 billion aluminium smelter in Inola, Oklahoma, has entered another review phase as the US continues efforts to strengthen domestic aluminium production. Inola town trustees have unanimously extended the moratorium on the project through April 7, 2027, giving the proposed...
Futures: The most-traded SHFE aluminium 2610 contract closed at RMB 23,990 per tonne, down RMB 15 from yesterday's settlement price, a decline of 0.06 per cent. It opened at RMB 23,995 per tonne during the day and fluctuated within a range of RMB 23,950-24,055 per tonne. Prices traded below the MA5...
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Alcoa Corporation today announced that it has named Renato Bacchi as Executive Vice President and Chief Commercial Officer, effective August 1, 2023. The company’s current Chief Commercial Officer, Kelly Thomas, will leave to pursue a career opportunity outside of Alcoa. Bacchi will lead the...
The Volta Aluminium Company (VALCO) was established as a collaborative venture between the Government of Ghana and Kaiser and Reynolds of the United States of America. VALCO started operations in 1967, with ownership then vested in Kaiser Aluminium and Chemical Corporation (Kaiser) and Reynolds...
LME aluminium opened at US$2,207.5 per tonne on Monday, with its low and high at US$2,185 per tonne and US$2,213.5 per tonne, respectively, before closing at US$2,207.5 per tonne, down US$3 per tonne or 0.14 per cent. As of Monday, July 24, both LME aluminium cash bid price and LME aluminium...
Vedanta Limited announced the first quarter financial and operational results ended June 30 of FY2024, revealing INR 33,342 crore of consolidated revenue, down by 10.43 per cent from INR 37,225 crore in Q4 FY2023 and 12.83 per cent less than INR 38,251 crore in Q1 FY2023. The fall could be...
Aluminium Bahrain embraces digital transformation by integrating Virtual Reality (VR) technology in five key areas for its in-house training courses. The initiative was carried out in collaboration with Atyaf eSolutions, and the signing ceremony was held on 12 July 2023. The VR training will guide...
Norsk Hydro wrote a letter to the London Metal Exchange last week urging to rethink the decision not to ban Russian aluminium from its warehouse network. Norsk Hydro believes that a large volume of aluminium arriving from Russia is weighing on the benchmark metal price on LME. "As LME aluminium...
The Perth headquartered mining and metal company, South32, which is listed on the Australian Securities Exchange with secondary listings on the Johannesburg and London Stock Exchanges, reported that during the fiscal year ending in June, there had been three consecutive annual production records...
LME aluminium opened at US$$2,255 per tonne last Friday, with its high and low at US$2,262 per tonne and US$2,201 per tonne, respectively, before closing at US$2,205.50 per tonne, a drop of US$51.50 per tonne or 2.28 per cent. On Friday, July 21, LME aluminium cash bid price and LME aluminium...
The Shanghai Metal Market (SMM), today, on July 24, has recorded a growth of RMB 10 per tonne to settle at RMB 18,320 per tonne. On a Y-o-Y calculation, the price expanded by RMB 480 per tonne from RMB 17,840 per tonne recorded on July 25 2022. The average price as of today is expected to range...
Vedanta Aluminium was certified as a Great Place to Work® (GPTW) for the fiscal year 2022-2023. The praise goes to Vedanta Aluminium's countrywide operating divisions, whose tenacity and dedication earned this coveted award. Emirates Global Aluminium (EGA) and Japan's Itochu Corporation signed a...
Hindalco and Vedanta’s aluminium prices stood lower by the end of the week after several cuts from July 18 to 20, 2023. On Tuesday, July 18, Hindalco axed its aluminium ingot price by INR 3,750 per tonne to INR 212,250 per tonne. The company’s aluminium wire rod and billet prices also saw a similar...
On Friday, July 1, Norsk Hydro, one of the world’s largest aluminium companies worldwide, announced its financial and operational results for the second quarter of 2023. The company highlighted that it survived the weaker market and price pressure with strong extrusion margins and made good...
On July 20, the Chinese state-owned Aluminium Corporation of China announced the resignation of Chairman Liu Jianping. The reason cited for his departure was a "work adjustment." Liu's departure as chairman occurred only two years into his tenure. The decision followed closely on the heels of...
Emirates Global Aluminium (EGA) and Itochu Corporation of Japan have entered into a new agreement to work on developing aluminium production, decarbonisation, and the development of UAE industries in EGA’s supply chain. The news came after the signing of the Memorandum of Understanding at the...
On Thursday, July 20, both LME aluminium cash bid price and LME aluminium official settlement price hiked by US$29.5 per tonne or 1.37 per cent and US$30 per tonne or 1.40 per cent to settle at US$2,171 per tonne and US$2,172 per tonne. 3-month bid price and 3-month offer price also expanded by...
Safety comes first before anything else. Accidents anywhere or in any industry are not good and can be avoided or lowered with proper measurements. Safety and production are inextricably linked to any industry's growth or success. And the aluminium industry is not an exception either! Many...
Vedanta Aluminium has been honoured with a Great Place to Work® (GPTW) certification for the financial year 2022-2023. The credit goes to Vedanta Aluminium’s nationwide operational units, whose resiliency and commitment have brought this prestigious recognition. Undoubtedly, this certification...
On Wednesday, July 19, the LME aluminium cash bid price stopped at US$2,141.50 per tonne, shrinking by US$27 per tonne or 1.24 per cent, and LME official settlement price settled at US$2,142 per tonne, with a fall of US$27.50 per tonne or 1.27 per cent. The LME benchmark price on July 12 was...
