LME aluminium prices advanced on October 30 , with cash and futures contracts recording gains. The Asian Reference Price edged lower, while exchange opening stocks and cancelled warrants declined. Alumina Platts prices posted a stronger increase. Both the cash bid and cash offer rose 1.40 per cent, to USD 3,113.50 and USD 3,114 per tonne, respectively, from USD 3,070.50 and USD 3,071 per tonne. Three-month aluminium prices also moved higher. The bid climbed 0.52 per cent to USD 3,078 per tonne from USD 3,062 per tonne. The offer price also advanced 0.52 per cent to USD 3,080 per tonne from USD 3,064 per tonne. Explore the production, demand and consumption forecasts of bauxite and alumina in our report: " Global Bauxite & Alumina Market Forecast to 2036: Supply–Demand, Trade Flows & Price...
The most-traded SHFE aluminium 2612 contract closed at RMB 23,280 per tonne, down RMB 85 or 0.36 per cent from the previous trading day's settlement price. It opened at RMB 23,375 per tonne during the day and fluctuated within a range of RMB 23,250-23,445 per tonne. Prices traded below the MA5 (23,386.00), MA10 (23,300.00), MA30 (23,570.00), and MA60 (23,778.00) moving averages, weakening again after a rebound and showing a consolidating-on-a-subdued-note structure, with the moving averages above forming key resistance pressure. The MACD DIF (-121.7235) remained above the DEA (-168.5361), with the MACD red bar at 93.6251, indicating some convergence in bearish momentum. The core trading range for SHFE aluminium is suggested at RMB 23,000-23,600 per tonne. The LME aluminium 3M contract...
Grow with
AL Circle
National Aluminium Company Limited (NALCO) has increased its aluminium ingot and aluminium products prices for the first time this month on August 26, following two consecutive cuts on August 1 and August 18. NALCO has raised its aluminium ingot price by INR 4,100 per tonne or 1.8 per cent to INR 226,050-229,550 per tonne. On August 18, the price stood at INR 221,950- 225,450 per tonne, down by INR 4,700 per tonne from the previous day. NALCO’s aluminium wire rod price has also seen a hike of INR 4,100 per tonne over a week, reaching INR 229,550-233,900 per tonne on August 26 versus INR 225,450- 229,800 per tonne on August 18. Aluminium billets price has come in at INR 230,500-233,150 per tonne, accumulating the same amount over a week from INR 226,400- 229,050 per tonne. NALCO has...
European aluminium smelters have once again ramped up their production cuts owing to soaring electricity prices. Since 2021, 1 million tonnes of total 4.5 million tonnes of Europe’s aluminium production capacity has been reduced, while another 500,000 tonnes is under threat, according to Citi analysts. A few weeks ago, a dramatic rise in natural gas prices was reported, showing no possibility for Europe’s inflation battle to ease. In August, gas prices have increased by almost 40 per cent and nearly 30 per cent throughout the year so far. Reuters has identified the smelters affected by the electricity price surge, mentioning their output capacity and their rate of production cut. In late December 2021, Alcoa’s San Ciprian aluminium smelter in Spain reached an agreement aimed at resolving...
Talum, the major Slovenian company specializing in alumina and aluminium products, has reduced its primary aluminium production by 20 per cent of its smelting capacity due to exorbitant energy prices. Power prices in Europe have been rising since the beginning of 2021, making some production sites unviable due to the high energy requirements of aluminium smelting. Reduced production can result in more significant deficits and higher costs for European customers purchasing aluminium for building, packaging, and transportation use. However, this year's predicted recession in Europe will reduce demand, and Chinese smelters have increased production to make up for European losses. Reports suggest that Talum had already curtailed output by 50 per cent while having the capacity to generate...
LME aluminium opened at US$2,624.6 per tonne on Thursday and closed at US$2,435.5 per tonne, an increase of US$9 per tonne or 0.37 per cent. LME aluminium cash bid price stopped at US$2,441.50 per tonne, with a 0.82 per cent or US$20 per tonne hike on Thursday, August 25, while LME aluminium official settlement price rested at US$2,442.50 per tonne, experiencing an increase of US$20.50 per tonne or 0.85 per cent. 3-month bid price witnessed a 0.56 per cent or US$13.50 per tonne elevation to stand at US$2,426.50 per tonne and the 3-month offer price also had a similar percentage added to it, arriving at US$2,427.50 per tonne. December 23 bid price and December 23 offer price expanded by US$12 per tonne or 0.49 per cent to rest at US$2,465 per tonne and US$2,470 per tonne, respectively. LME...
Malaysian aluminium giant Press Metal Aluminium Holdings Bhd. has reported that its net profit for the second quarter of the financial year ended June 30, 2022 (Q2 FY2022) escalated by 60.1 per cent to RM409.17 million against RM255.58 million in the same quarter previous, boosted by enhanced revenue and contribution from subsidiary companies. A filing on the stock exchange revealed Press Metal's revenue increased by 51 per cent to RM4.01 billion from RM2.64 billion in Q2 FY 2021, primarily due to an increase in metal prices and production output as its Phase 3 smelter became operational in October 2021. With three decades of experience in the aluminium industry chain, Press Metal stated, "The strengthening of the US dollar also contributed to the increase as the group's revenue is mainly...
Ghana Integrated Aluminum Development Corporation (GIADEC) believes it can raise nearly US$6 billion in private finance to achieve a unified aluminium sector. It also hopes that the integrated aluminium development plan would help Ghana's packaging, pharmaceutical, electric cable manufacturing, and construction industries reach their full potential. GIADEC is now stepping up efforts to develop a comprehensive aluminium industry in line with the country's renewed commitment to use its bauxite endowments to become an automobile and industrial hub within the continent. The nation initially envisioned an integrated industry shortly after independence. “So, what we have done is that we have broken this up into four projects to make sure that we can bring investors who can take the risk. So we...
Meridian Energy, New Zealand's most significant renewable energy generator and Rio Tinto, the majority owner of the Tiwai Point aluminium smelter, have made predominantly positive comments about their anticipation of attaining a deal to keep the smelter open after 2024. In spite of the Electricity Authority's announcement last week that it would veto any supply deal that it considered unfair to other prospective power users, the deal looks to proceed regardless. The island country in the southwestern Pacific Ocean, New Zealand’s only aluminium smelter requires a new power supply deal if it desires to remain open after its current supply agreement expires at the end of 2024. On 24th August 2022, Neal Barclay, the CEO of Meridian Energy, said, "The power firm required a contract that would...
Last year South32 witnessed a rise in annual revenue, amounting to US$2.67 billion or AU$3.87 billion in total, owing to systematically augmenting prices of raw materials like metallurgical coal and aluminium. The diversified miner made the highest profit since its inception in 2015, owing to a collection of the residual assets discarded by BHP. South32 made US$1.03 billion from aluminium and US$1.54 million from industrial coal used for steel production. Higher realised prices are directly proportional to underlying earnings, which had a US$3.67 billion or AU$5.3 billion spike. Graham Kerr, the CEO of South32, explained that shareholders would be able to retrieve US$648 million or AU$936 million in final dividends for the second half of the year, along with special dividends worth US$139...
Researchers from iForest, Delhi are instigating policymakers to make a shift to a green energy-based economy in Odisha’s Angul region, one of India’s largest coal generating zones. This step is to ensure a circular economy for energy, steel, urea and aluminium production units so that the coal reserves stay preserved for a longer period of time. On August 24, the Delhi-based environmentalist organisation, International Forum for Environment, Sustainability and Technology (iFOREST), published a report showing how Odisha’s largest coal-producing industrial district, Angul, can have smooth transmit energy to build a green economy in the upcoming days. Analytical reports from iFOREST stated: “Coal production is expected to grow threefold over the next 10 years in Angul, from 96.7 million...
Hindalco Industries Limited has trimmed its aluminium ingot and aluminium products prices, with effect from Thursday, August 25, following a hike a day ago. The company has cut its aluminium ingot price by INR 1,750 per tonne to INR 225,250 per tonne. On August 24, the price was increased by INR 6,000 per tonne to INR 227,000 per tonne. Hindalco’s aluminium wire rod price has also been reduced by INR 1,750 per tonne to INR 236,350 per tonne after a hike on the previous day from INR 232,100 per tonne to INR 238,100 per tonne. Aluminium billets price has come in at INR 239,350 per tonne as of August 25, down by INR 1,750 per tonne from INR 241,100 on August 24. Hindalco Industries links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London...
The ongoing labour dispute between Industri Energi and Norsk Hydro ended on Wednesday, August 24. A resolution to the labour dispute over the amendment of the Electrochemical Agreement was reached between Industri Energi and Norsk Industri, which resulted in the cancellation of the strike at Hydro Sunndal. Norsk Hydro’s aluminium smelter in Sunndal western Norway is the largest in Europe and is also a producer of low-carbon aluminium. Around 655 members of the Industry Energi union, who was also a part of Hydro Sunndal, went on a strike on Monday, August 22, due to an ongoing labour dispute. However, as per the latest reports, following the announcement of the resolution between Industri Energi and Hydro, it is expected that the aluminium smelter in Sunndal will begin regular activities,...
Along with the month-on-month hike in the world primary aluminium production during July 2022, output in Africa has recorded an increase of 4,000 tonnes or 2.96 per cent to bounce back at 139,000 tonnes in the said month. According to the International Aluminium Institute, Africa’s primary aluminium production in June 2022 had a monthly fall from 139,000 tonnes to 135,000 tonnes. On a year-on-year basis, Africa’s primary aluminium output in July 2022 also edged higher by 4,000 tonnes from 135,000 tonnes, found IAI data. In the first seven months of the year (January-July), Africa produced 941,000 tonnes of primary aluminium in total, up by 25,000 tonnes or 2.73 per cent from 916,000 tonnes during the same period last year. According to IAI data, the daily average production during...
LME aluminium opened at US$2,405 per tonne on Wednesday and closed at US$2,426.5 per tonne, down US$1.5 per tonne or 0.06 per cent. On Wednesday, August 24, both LME aluminium cash bid price and LME aluminium official settlement price dropped by US$16.5 per tonne or 0.67 per cent to rest at US$2,421.50 per tonne and US$2,422 per tonne. 3-month bid price and 3-month offer price went down by US$3 per tonne or 0.12 per cent to close at US$2,413 per tonne and US$2,414 per tonne. December 23 bid price and December 23 offer price climbed down by US$5 per tonne or 0.20 per cent to peg at US$2,453 per tonne and US$2,458 per tonne. LME aluminium opening stock was recorded at 282075 tonnes. Live warrants and Cancelled warrants halted at 183475 tonnes and 98600 tonnes. LME aluminium 3-month Asian...
Vedanta Limited has expanded its aluminium ingot and aluminium products prices for the two back-to-back days, with effect from Wednesday, August 24. The company has increased its aluminium ingot price by INR 4,500 per tonne or 2 per cent to INR 224,750- 254,250 per tonne. On the previous day, the price stood at INR 220,250- 249,750 per tonne, seeing a rise of INR 1,250 per tonne. Vedanta’s aluminium wire rod price has also experienced a hike of INR 4,500 per tonne on August 24 to stand at INR 232,250- 239,750 per tonne versus INR 227,750-235,250 per tonne on August 23. The latest rise has brought the company’s aluminium billets price to INR 233,750 per tonne, up INR 4,500 per tonne from the earlier day. Vedanta links its aluminium ingot and aluminium products prices to the three-month...
On Tuesday, August 23, Aluminium Stewardship Initiative (ASI) announced that Yunnan YunLv Yongxin Aluminium Co., Ltd. based in the Yangjie Industrial Park, Yunnan Province, China, received the ASI Chain of Custody Standard V1 (2017) Certification. In September 2021, the facility was granted the Performance Standard Certification by ASI. The application of ASI's CoC Standard establishes a connection between the goods made by ASI Certified Entities and verified processes at various supply chain stages that have been approved under the ASI Performance Standard. Based on hydropower, the plant has an annual production capacity of 300,000 tonnes of primary aluminium. The major products are electrolytic aluminium liquid, re-melted aluminium ingots, casting aluminium alloy, and aluminium bars....
Rising energy prices are affecting the aluminium industry more than ever. As a result, Speira, a significant European aluminium rolling firm, is thinking of reducing the production of its German aluminium smelter to 50 per cent of the total capacity. The final decision on the production cut is expected to be taken by September. As per the reports, Speira was once a part of Norsk Hydro ASA, one of the biggest manufacturers of aluminium in the world, which was later sold to KPS Capital Partners last year. Although the German Speira facility can manufacture roughly 160,000 tonnes of aluminium annually, it now only produces about 140,000 tonnes. Aluminium is a metal that consumes the highest amount of energy. However, the rising fuel prices have resulted in the shutting down of many aluminium...
LME aluminium opened at US$2,392.5 per tonne on Tuesday and closed at US$2,428 per tonne, up US$39.5 per tonne or 1.65 per cent. LME aluminium cash bid price stopped at US$2,438 per tonne, with a 2.14 per cent or US$51 per tonne growth on Tuesday, August 23, while LME aluminium official settlement price rested at US$2,438.50 per tonne, experiencing a similar escalation. 3-month bid price witnessed a 1.51 per cent or US$36 per tonne elevation to stand at US$2,416 per tonne, while the 3-month offer price witnessed a US$36.50 per tonne or 1.53 per cent boost to close at US$2,417 per tonne. December 23 bid price and December 23 offer price inched up the chart by US$33 per tonne or 1.36 per cent to rest at US$2,458 per tonne and US$2,463 per tonne, respectively. LME aluminium opening stock...
Alcoa Intalco aluminum smelter sees a silver lining once again to restart its operation, as the climate and health care bill has been passed by Congress and signed by President Joe Biden with provisions that could help the resumption of the smelter’s operation. Already the reopening campaign for the smelter is in full swing since the rise of the aluminium spot price to a record high in March 2022. But what appears as a hurdle is the affordable source of electricity for energy-intensive aluminium production. So far, the smelter has been unable to reach an agreement with the Bonneville Power Administration, which sells electricity generated by federal Pacifica Northwest dams. As per the Seattle Times report, the climate and health care bill has dubbed the Inflation Reduction Act, which...
