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
On Monday, August 8, China’s social inventories of primary aluminium recorded a W-o-W hike yet again for three weeks in a row since July 25, 2022. According to the Shanghai Metals Market, inventories across eight major consumption areas, including SHFE warrants, totalled 687,000 tonnes witnessing an increase of 9,000 tonnes from 678,000 tonnes last Monday, August 1. Inventories have been growing since July-end as shipments from warehouses have remained weak, with a drop of 5,000 tonnes on a weekly basis to 128,300 tonnes last week. The chart below indicates the current status of primary aluminium inventories across China in more details: Among the major Chinese provinces, Gongyi saw the highest increase in inventories of 11,000 tonnes over week to 85,000 tonnes versus 74,000 tonnes on...
Century Aluminum Company, a US-based primary aluminium producer, announced its second quarter 2022 results on Tuesday, August 9, reporting a 14 per cent quarter-on-quarter increase in net sales from $753.6 million to $856.6 million, attributable to higher realised LME prices and regional premiums. As a result, net income rose 19.7 per cent sequentially from $17.7 million to $37.4 million. Century Aluminum also posted a rise in its primary aluminium shipments by 1 per cent from 211,411 tonnes in Q1 to 214,084 tonnes in Q2. But the company’s Adjusted EBITDA for the second quarter of 2022 was $18.9 million down from the prior quarter to $86.6 million, driven by higher raw materials costs and energy, partially offset by higher LME and regional premiums. The second quarter was also negatively...
LME aluminium opened at US$2,448 per tonne on Tuesday and rose to US$2,507 per tonne before closing at US$2,472 per tonne, an increase of 1.31 per cent. LME aluminium cash bid price stopped at US$2,487 per tonne, with a 2.13 per cent or US$52 per tonne escalation on Tuesday, August 9, while LME aluminium official settlement price rested at US$2,488 per tonne, experiencing a price hike of US$52.50 per tonne or 2.15 per cent. 3-month bid price grew by 1.68 per cent or US$41 per tonne to stand at US$2,473 per tonne, while the 3-month offer price witnessed a US$39.50 per tonne or 1.62 per cent boost to US$2,473.50 per tonne. December 23 bid price and December 23 offer price climbed up the graph by US$33 per tonne or 1.3 per cent to rest at US$2,508 per tonne and US$2,513 per tonne,...
According to the Shanghai Metals Market, China’s aluminium production stood at 3.5 million tonnes in July (31 calendar days), reflecting a year-on-year increase of 6.74 per cent. That brought the total volume of output in the first seven months of the year to 23.059 million tonnes, up by 1.4 per cent over the year. In July, a rise in total domestic operating capacity of aluminium with the resumption of production and release of new capacities in Gansu and Yunnan pushed the output up. Daily output stood at 112,900 tonnes, increasing by 862 tonnes on the month and 7,113 tonnes on the year. In July, domestic proportion of aluminium liquid grew by 0.2 per cent M-o-M to 66.64 per cent. In Guangxi, however, the production resumption slowed down, while in Sichuan and Shandong, the output...
The Indian state-owned integrated aluminium company National Aluminium Company (Nalco) has reported a 60.6 per cent rise in consolidated net profit to around $70 million (INR 557.91 crore) on a 52.9 per cent increase in net sales to $475.33 million (INR 3783.32 crore) in Q1 FY23 over Q1 FY22. In a regulatory filing, the public sector company had posted a consolidated profit of $43.64 million (INR 347.48 crore) in the year-ago phase. The segmental revenue from Chemicals was $43.60 million (INR1,199 crore), an increase of 12.3% year-over-year, while aluminium revenue was $374.18 million (INR2,980 crore), an increase of 71.5% year-over-year. Total expenditure soared by 55 per cent Y-o-Y to $368.58 million (INR 2935.38 crore) during the quarter due to sharp rises in raw material costs (up...
LME aluminium opened at US$2,418 per tonne on Monday and closed at US$2,440 per tonne, up 0.78 per cent. On Monday, August 8, both LME aluminium cash bid price and LME aluminium official settlement price climbed down the graph by US$12 per tonne or 0.49 per cent to settle at US$2,435 per tonne and US$2,435.50 per tonne. 3-month bid price and 3-month offer price went down by US$8 per tonne or 0.32 per cent and US$7 per tonne or 0.28 per cent to rest at US$2,432 per tonne and US$2,434 per tonne. December 23 bid price and December 23 offer price also descended by US$10 per tonne or 0.40 per cent to score at US$2,475 per tonne and US$2,480 per tonne. LME aluminium opening stock settled at 287425 tonnes. Live warrants and Cancelled warrants closed at 154800 tonnes and 132625 tonnes. LME...
LME aluminium opened at US$2,403 per tonne last Friday and rose to US$2,454 per tonne before closing at US$2,421 per tonne. LME aluminium cash bid price stopped at US$2,447 per tonne, with a 3.1 per cent or US$73.50 per tonne escalation on Friday, August 5, while LME aluminium official settlement price rested at US$2,447.50 per tonne, experiencing a similar price hike. 3-month bid price grew by 2.84 per cent or US$67.50 per tonne to stand at US$2,440 per tonne, while the 3-month offer price witnessed a US$68 per tonne or 2.86 per cent boost to US$2,441 per tonne. December 23 bid price and December 23 offer price climbed up the graph by US$68 per tonne or 2.81 per cent to rest at US$2,485 per tonne and US$2,490 per tonne, respectively. LME aluminium opening stock continued to decrease by...
Russian oligarch Oleg Deripaska is keen on building a business relationship with India, similar to the country has with Europe, aided by connectivity, capital markets, and financial infrastructure. Impending fraudulence charges on GFG Alliance have resulted in the plunder of wealth at Lochaber aluminium smelter that has been subjected to a £586 million Scottish Government guarantee, estimating a loss of more than £4 million in the financial year 2020-21. LME aluminium official settlement price opened the week with a growth of US$17.50 per tonne, to rest at US$2,469.50 per tonne, which on Tuesday declined by US$21 per tonne to halt at US$2,448.50 per tonne, respectively. China's A00 aluminium ingot price started the week with an augmentation of RMB 320 per tonne, halting at RMB 18,620 per...
The impact of digital transformation has been prominent and widespread across the world. Over the years, digitalization has significantly evolved and brought about advanced technologies like Artificial Intelligence, Robotics, IoT, and many others. Among some of the leading global industries, aluminium is the one that has been prompt in adopting these advanced digital technologies to transform its businesses into Smart Enterprises. To throw a light more on this revolutionary change in the aluminium industry, AlCircle is working on launching its eleventh e-Magazine - "Digital Transformation in the Aluminium Industry: Drivers & Change Makers of 2022". Through this magazine, we will explore how digitalization will give a new edge to the aluminium industry in 2022. Digital transformation is...
According to news reports, the GFG Alliance-owned Lochaber aluminium smelter, also subject to a £586 million Scottish Government guarantee, counted a loss of more than £4 million in FY20-21. As part of the Government's agreement with GFG Alliance, the company has been required to meet specific conditions. This release comes just weeks after the company was revealed unable to meet those conditions. According to the accounts show, the last British aluminium smelter made an operating loss of £4,051,284 in FY20-21; despite statements aroused, the smelter was "performing profitably". However, the losses were primarily imputed to higher raw material costs and diminished demand for the products at the aluminium smelter due to the impact of the Covid pandemic. Even though the smelter spent more...
LME aluminium opened at US$2,385 per tonne on Thursday and closed at US$2,403 per tonne, an increase of US$18 per tonne or 0.75 per cent. On Thursday, August 4, both LME aluminium cash bid price and LME aluminium official settlement price decreased by US$29 per tonne or 1.20 per cent to rest at US$2,373.50 per tonne and US$2,374 per tonne. 3-month bid price and 3-month offer price went down by US$27.5 per tonne or 1.14 per cent and US$28 per tonne or 1.16 per cent to stand at US$2,372.50 per tonne and US$2,373 per tonne. December 23 bid price and December 23 offer price climbed down the graph by US$28 per tonne or 1.14 per cent to settle at US$2,417 per tonne and US$2,422 per tonne. LME aluminium opening stock stood at 290675 tonnes. Live warrants and Cancelled warrants halted at 154800...
Vedanta Limited has reduced its aluminium ingot and aluminium products prices for the third successive day on Thursday, August 4. The company’s aluminium ingot price has seen a cut of INR 3,250 per tonne to INR 218,750- 250,250 per tonne, which on August 3 witnessed a decline of INR 2,750 per tonne to INR 222,000- 253,500 per tonne. Vedanta’s aluminium wire rod price has also been cut by INR 3,250 per tonne on August 4 to INR 226,250- 233,750 per tonne. On August 3, the price stood at INR 229,500- 237,000, reflecting a downfall of INR 2,750 per tonne from INR 232,250-239,750 per tonne. With effect from August 4, the company’s aluminium billet price has come in at INR 227,750 per tonne versus INR 231,000 per tonne on August 3. Vedanta has been reducing its aluminium ingot and aluminium...
LME aluminium opened at US$2,405 per tonne on Wednesday and closed at US$2,385 per tonne, down US$29 per tonne or 1.2 per cent. LME aluminium cash bid price stopped at US$2,402.50 per tonne, while LME aluminium official settlement price rested at US$2,403 per tonne with a 1.86 per cent or US$45.50 per tonne decline on August 3. 3-month bid price and 3-month offer price dropped by 1.48 per cent or US$36 per tonne to stand at US$2,400 per tonne and US$2,401 per tonne. December 23 bid price and December 23 offer price climbed down the graph by US$30 per tonne or 1.21 per cent to rest at US$2,445 per tonne and US$2,450 per tonne, respectively. LME aluminium opening stock continued to decrease by 0.71 per cent or 2,100 tonnes, from 296,650 tonnes to 294,550 tonnes as of August 3. Live warrants...
National Aluminium Company Limited has trimmed its aluminium ingot price, with effect from August 1, following an escalation of INR 11,300 per tonne on July 21. The price has slipped by only INR 1,000 per tonne to come in at INR 226,650-230,150 per tonne from INR 227,650-231,150 per tonne. But the company’s product prices have recorded no change since the hike on July 21. Both aluminium wire rod price and aluminium billets price have remained restrained at INR 230,150-234,500 per tonne and INR 231,100-233,750 per tonne, respectively. NALCO links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which stood range-bound even after many ups and downs between July 20 and 29. As per the LME data, the price only inched down...
Hindalco Industries Limited has slashed its aluminium ingot and aluminium products prices, with effect from August 3, 2022. The company has reduced its ingot price by INR 4,250 per tonne or 1.86 per cent to INR 224,000 per tonne on August 3. On July 29, the price came in at INR 228,250 per tonne, seeing a hike of INR 5,500 per tonne from the previous day. Hindalco’s aluminium wire rod price is now standing at INR 235,100 per tonne, experiencing a cut of INR 4,250 per tonne as well from July 29. Aluminium billets price has recorded at INR 238,100 per tonne as of August 3 versus INR 242,350 per tonne on July 29. Hindalco Industries links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which dropped by US$21 per tonne on...
LME aluminium opened at US$2,445.5 per tonne on Tuesday and closed at US$2,414 per tonne, down US$36 per tonne or 1.47 per cent. On Tuesday, August 2, both LME aluminium cash bid price and LME aluminium official settlement price declined by US$21 per tonne or 0.85 per cent to halt at US$2,448 per tonne or US$2,448.50 per tonne. 3-month bid price and 3-month offer price dropped by US$11.5 per tonne or 0.46 per cent and US$51 per tonne or 2.04 per cent to rest at US$2,436 per tonne and US$2,437 per tonne. December 23 bid price and December 23 offer price also plunged by US$12 per tonne or 0.48 per cent to score at US$2,475 per tonne and US$2,480 per tonne. LME aluminium opening stock halted at 296650 tonnes. Live warrants and Cancelled warrants for the same day stood at 154800 tonnes and...
The data gathered in customs said that in June 2022, China witnessed a decrease of 37.95 per cent from the last month and 16.48 per cent from the same time span the previous year to close its export volume of prebaked anodes at 131,000 tonnes, which is still the lowest in the year. Yet, the customs also notified that its export price per unit for prebaked anode has elevated to a record number of US$1,316.67 per tonne. In 2022, the total exports by China have accumulated at 1,017,300 tonnes, which records a year-on-year volume rise of 26.69 per cent. Since there has been no news of obstruction in the daily activities of the international aluminium factories, it can be well deciphered that this crunch in volume has been orchestrated by the delayed cycles of ship and logistics. The prebaked...
China’s social inventories of primary aluminium continued to increase by 7,000 tonnes week-on-week as of Monday, August 1, found the Shanghai Metals Market. The inventories grew across eight major consumption areas, including SHFE warrants, to clock at 678,000 tonnes. However, compared to the same period last year, the inventories stood down by 81,000 tonnes, showed SMM data. Given the poor willingness to purchase, primary aluminium social inventories are likely to grow further after shipments arrive in the future. The chart below indicates the current status of primary aluminium inventories across China in more details: SMM data also showed that the increase in primary aluminium inventories could not touch upon all the provinces of China. Only Nanhai, Hangzhou, and Tianjin witnessed a...
