Fire crews responded to a molten aluminium spill at Bridgnorth Aluminium on September 14 afternoon after the incident caused several small fires at the facility. Crews from Bridgnorth and Much Wenlock arrived shortly before 4 pm on September 14. The incident was recorded as a building fire, and operations officers also attended. Firefighters dealt with the fires caused by the molten aluminium spill. The incident also shows the role fire crews can play when such an incident occurs at a production facility. Molten aluminium is handled at very high temperatures, so a quick response is important when a spill leads to fire. Firefighters are trained to deal with these situations and can provide industries with support when an unexpected incident takes place. Prompt actions play a key role in...
Futures: The most-traded SHFE aluminium 2610 contract closed at RMB 24,150 per tonne, up RMB 110 or 0.46 per cent from yesterday's settlement price. It opened at RMB 24,120 per tonne during the day and fluctuated in the range of RMB 24,075-24,195 per tonne. Prices traded below MA5 (24,205.00) and MA10 (24,312.50), and above MA30 (24,065.00) and MA60 (23,616.83). The short-term rebound structure has been partially repaired, while the consolidation pattern continues, with short-term moving averages above forming key resistance. The MACD DIF (123.0407) is below DEA (150.9039), and the MACD green bar stands at -55.7263, indicating bulls' momentum remains weak. The suggested core trading range for SHFE aluminium is RMB 23,800-24,600 per tonne. The LME aluminium 3M contract settled at USD 3,249...
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LME aluminium opened at US$2,398 per tonne last Friday and closed at US$2,393.5 per tonne, down US$6 per tonne or 0.25 per cent. On March 3, Friday, the LME aluminium cash bid price stooped down by US$4.50 per tonne or 0.19 per cent to close at US$2,361 per tonne and the LME aluminium official settlement price shed US$5 per tonne or 0.21 per cent to stop at US$2,361.50 per tonne. Though the European market is under a lot of pressure due to the spiked prices, the Chinese authority is keen on handling the issue with much finesse. The 3-month bid price plunged by US$7 per tonne or 0.29 per cent to halt at US$2,403 per tonne and the 3-month offer price witnessed a similar price loss, officially closing at US$2,404 per tonne. December 24 bid price and December 24 offer price have remained...
In reaction to the escalating geopolitics between the United States and Russia, the administration of the world's largest economy said on February 24, 2023, that starting on March 10, 2023, it would impose a 200 per cent import duty on aluminium and derivatives made in Russia. The London Metal Exchange (LME) reported that it would immediately stop issuing warrants for aluminium metal with a Russian provenance from the exchange's storage facilities in the US. On the other hand, Rio Tinto issued a warning that the globe is having difficulty developing renewable energy sources quickly enough to replace fossil fuels and at the necessary scale to meet aggressive emissions objectives. Hydro, one of the leading Norwegian aluminium companies, developed a groundbreaking technology called HalZero,...
According to the Shanghai Metals Market, social inventories of primary aluminium totalled 1.269 million tonnes across eight major consumption areas in China, including SHFE warrants, as of Thursday, March 2, 2023. Compared to a week ago, February 23, the inventories have accumulated 21,000 tonnes this week but stand almost muted as against 1.268 million tonnes on Monday, February 27. The chart below indicates the current status of primary aluminium inventories across China in more details: In Gongyi, primary aluminium inventories gained the highest this week, with the end of the inflow controls. SMM survey showed inventories in Gongyi increased by 10,000 tonnes to stand at 258,000 tonnes on March 2. In Wuxi, primary aluminium inventories climbed 8,000 tonnes over a week to rest at 447,000...
The Slovenian aluminium company Talum will shut down its remaining aluminium electrolytic furnaces in April. Talum plans to shut down its remaining aluminium electrolytic furnaces in April after nearly 60 years of producing primary aluminium. The Kidričevo-based company has recently switched to aluminium processing and other more lucrative activities. The rapid rise of energy prices forced the Slovenian producer Talum to cut its primary aluminium production to around 20 per cent of its capacity in 2022. Electricity prices in Europe have increased tenfold since the beginning of 2021. Primary aluminium production is highly energy intensive, making production at some sites unviable. The Slovenian aluminium producer ranked among the top 10 exporters in the nation and has been producing 50,000...
On March 2nd, 2023, the former President of En+ Group and the founder of the Russian aluminium giant, Oleg Deripaska, urged the Russian government to prevent it from interfering in business and rather develop a formulaic environment established on the rule of law to allure foreign investors back to Russia's sanctions-hit economy. At an economic forum in Krasnoyarsk, the former aluminium tycoon stated that he doesn't expect a "de-escalation" of the conflict with Ukraine before mid-2025. At the same time, Western investors may not return for another decade. Deripaska said he was scathing about the business climate in an economy where the Kremlin is increasingly focused on the war effort. Still, he hoped Russia could attract investors from friendly countries that have not joined the Western...
The aluminium billet inventory decreased for four weeks in a row due to downstream processing companies receiving more orders during the customary peak season and operating at a higher capacity. As per the data, on Thursday, March 2, the inventories in China recorded a W-o-W plunge of 156,200 tonnes to stand at 24,700 tonnes, from 181,000 tonnes recorded a week ago. The figure below provides further information on the current state of aluminium billet inventories in China: The inventory in Foshan slumped by 13,000 tonnes to score at 80,100 tonnes from 93,100 tonnes recorded a week ago. As per the data, the inventory in Wuxi had fallen by 7,800 tonnes from 39,400 tonnes recorded last week to close at 31,600 tonnes on February 2. On the same day in Huzhou, the inventory had dropped by 4,000...
The Chicago Mercantile Exchange (CME), the world's largest derivatives marketplace, reported that participation in aluminium futures is likely to have a strong start in 2023. As per the reports, the average daily volumes (ADV) for aluminium futures in February recorded a four-fold Y-o-Y surge of 300 per cent to 3,161 contracts. The average daily open interest of the 2,549 contracts hiked by 711 per cent Y-o-Y and is expected to last through 2024. According to the computation, about 79,025 tonnes of aluminium were traded on the CME's futures market in February. Each physically deliverable CME contract equals 25 metric tonnes. "We are pleased to see that strong momentum in our Aluminum markets has continued into 2023, and we look forward to helping more participants across the base metals...
To commemorate National Science Day, India's largest aluminium producer Vedanta Aluminium organised a visit for Women's Degree College students to their mega aluminium smelter at Jharsuguda to learn and experience the 'Science of Aluminium' as part of the Campus Connect Programme. The aim was to inspire students to pursue higher education in science, technology, engineering, and mathematics (STEM) and opt for careers in the manufacturing industry. Vedanta's Science of Aluminium is a unique initiative to enable students to witness the concepts live that they may have learnt theoretically. Employee volunteers demonstrated scientific concepts behind aluminium production, such as Bayer's, Hall-Héroult, power generation, and casting processes. Vedanta also wants to encourage female students,...
On Friday, March 3, A00 aluminium ingot price in China has moved up by RMB 20 per tonne to stand at RMB 18,550 per tonne. The average prices for the same are likely to range between RMB 18,530 per tonne and RMB 18,570 per tonne, with the spot contract price to be traded at a discount price of RMB 100 to RMB 60 per tonne. On a W-o-W calculation , the price has fallen by RMB 70 per tonne from RMB 18,480 per tonne recorded on Friday, February 24. As per the SMM data, the prices in Linyi and Shenyang have increased by RMB 50 per tonne and RMB 40 per tonne to close at RMB 18,600 per tonne and RMB 18,550 per tonne. In Wuxi and Hangzhou, the prices have grown by RMB 35 per tonne, scoring at RMB 18,550 per tonne. On the same day, in Gongyi and Chongqing, the prices have moved up by RMB 30 per...
Three-month LME aluminium opened at US$2,441.50 per tonne on Thursday, March 2, and closed at US$2,395.50 per tonne, down US$48.50 per tonne or 1.98 per cent. LME aluminium cash bid price and LME aluminium official settlement price continued to grow but at a much lower rate. The former grew by only US$3.50 per tonne to stand at US$2,365.50 per tonne as of March 2 and the latter inched up by US$2.50 per tonne to close at US$2,366.50 per tonne. Both 3-month bid price and 3-month offer price increased by US$4.5 per tonne to rest at US$2,410 per tonne and US$2,411 per tonne, respectively. December 24 bid price and December 24 offer price climbed US$12 per tonne to peg at US$2,605 per tonne and US$2,610 per tonne. LME aluminium opening stock totalled 546825 tonnes, losing 3,275 tonnes from the...
The London Metal Exchange (LME) has announced that it will suspend the issuance of warrants for aluminium metal of Russian origin from the exchange's warehouses in the United States immediately. The United States announced new tariffs on Russian aluminium on February 24 as the impetus for this action. A 200% duty was imposed on Russian-origin aluminium as well as aluminium products manufactured in third countries from metal melted in Russia. Furthermore, beginning April 1, a 70% import duty will be imposed on Russian-origin copper, nickel, lead, and aluminium alloys. LME reports that US warehouses have no Russian primary aluminium, copper, nickel, or lead. Only NASAAC (400 tonnes) exists, for which no delivery obligations exist. The exchange is suspending the use of warrants for this...
Aluminium without CO2 emission can be touted as one of the most crucial aspects of climate goals. Developing zero-emission technology for aluminium production can be called the need of the hour in which Hydro has developed a groundbreaking technology called HalZero, which can help produce primary aluminium without greenhouse gas emissions. As per the reports, Hydro's HalZero manufacturing technology will invest in a new testing facility, supported by the government of Norway. With this move, Hydro is on schedule to provide zero-carbon primary aluminium pilot production by 2030. "We know that demand for aluminium will increase, and aluminium without CO2 emissions will mean a lot for the climate goals. Today, the aluminium industry accounts for 2 percent of the world's CO2 emissions. We are...
The global aluminium industry in February 2023 witnessed some important announcements. The Russia-Ukraine geopolitical crisis marked one year in February 2023, which resulted in the White House pushing the Russian economy with new sanctions. The United States imposed a 200 per cent tariff on importing Russian aluminium into the country, including extrusion products. The other important announcement was the production resumption of the San Ciprián aluminium smelter by 2024. In 2022, the European primary aluminium sector was already forced to cut production due to the high energy prices. Activating this smelter will help the industry add some numbers to its output. In comparison, the Yunnan province of China declared the regional aluminium smelters to cut production due to the hydropower...
Hindalco Industries Limited has increased its aluminium ingot and aluminium products prices on Thursday, March 2, after consecutive cuts last week during February 23-25. The company has added INR 4,750 per tonne to its aluminium ingot price to bring it to INR 224,750 per tonne versus INR 220,000 per tonne on February 25. Hindalco’s aluminium wire rod price has also been lifted by INR 4,750 per tonne or 2.05 per cent on March 2 to INR 235,850 per tonne. Last week, on Saturday, the price was closed at INR 231,100 per tonne The company’s aluminium billets price has also experienced an increase of INR 4,750 per tonne, reaching INR 238,850 per tonne as of March 2, compared to INR 234,100 per tonne on February 25. Hindalco links its aluminium ingot and aluminium products prices to the...
A00 aluminium ingot price in China has continued to grow by RMB 90 per tonne to score above RMB 18,500 per tonne. According to the Shanghai Metals Market survey, the price stands at RMB 18,530 per tonne on Thursday, March 2, with average prices likely to range between RMB 18,510 per tonne and RMB 18,550 per tonne. The spot contract is estimated to trade at a discount price of RMB 110-70 per tonne. But despite the rise in the ingot price for the past two consecutive days, it stands lower by RMB 90 per tonne compared to RMB 18,620 per tonne a week ago, learned SMM. And compared to a month earlier, it reflects a downfall of RMB 480 per tonne from RMB 19,010 per tonne. In Foshan, the primary aluminium ingot price has increased the highest by RMB 100 per tonne on March 2 to stop at RMB 18,560...
LME 3M aluminium opened at US$2,370 per tonne and closed Wednesday at US$2,440 per tonne, up US$72 per tonne or 3.04 per cent. On March 1, Wednesday, both LME aluminium cash bid price and LME aluminium official settlement price escalated by US$64 per tonne or 2.78 per cent to halt at US$2,362 per tonne and US$2,364 per tonne. On the same day, 3-month bid price and 3-month offer price expanded by US$60.5 per tonne or 2.57 per cent to peg at US$2,405.50 per tonne and US$2,406.50 per tonne. December 24 bid price and December 24 offer price surged by US$60 per tonne or 2.36 per cent and 2.60 per cent to close at US$2,593 per tonne and US$2,598 per tonne. LME aluminium opening stock came in at 550100 tonnes. Live warrants and Cancelled warrants closed at 439750 tonnes and 110350 tonnes. LME...
Aluminium Stewardship Initiative (ASI) announced the joining of Qinghai Baihe Aluminium Industrial Co., Ltd as the new Production and Transformation member. The enterprise has the largest electrolytic aluminium manufacturing site in Qinghai Province, with a total design production capacity of 700,000 tonnes. For Shanghai futures trading, the company's "BHL" brand has achieved accreditation for its quality management system, environmental management system, occupational health and safety management system, and energy management system. "Qinghai Baihe Aluminium Industry Co., Ltd. is committed to building the sustainable development of the green low carbon electrolytic aluminium production enterprises. The company adheres to the principles of honesty, innovation and service to customers. We...
National Aluminium Company Limited (NALCO) axed its aluminium ingot and aluminium products prices by INR 4,000 per tonne on Tuesday, February 28. That brought the company’s aluminium ingot price to INR 224,150-227,650 per tonne versus INR 228,150-231,650 per tonne on February 23. NALCO’s latest price cut pulled down its aluminium wire rod price to INR 228,650-233,000 per tonne from INR 232,650-237,000 per tonne last week . The company’s aluminium billets price ranged between INR 228,600-231,250 per tonne, compared to INR 232,600-235,250 per tonne about a week ago. NALCO links its alumiium ingot and aluminium products prices to the three month of futures of aluminium on the London Metal Exchange, which plunged by US$68.50 per tonne during February 23-28 from US$2,368.50 per tonne to...
