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...
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LME aluminium opened at US$2,430.5 per tonne on Tuesday and closed at US$2,385 per tonne, down US$42 per tonne or 1.73 per cent. On Tuesday, July 19, both LME aluminium cash bid price and LME aluminium official settlement price stopped at US$2,411.50 per tonne and US$2,412 per tonne after witnessing a hike of US$34.5 per tonne or 1.45 per cent. 3-month bid price and 3-month offer price went up by US$29.5 per tonne or 1.23 per cent and US$28.5 per tonne or 1.19 per cent to score at US$2,419.50 per tonne and US$2,420.50 per tonne. December 23 bid price and December 23 offer price spiked by US$25 per tonne to peg at US$2,450 per tonne and US$2,455 per tonne. LME aluminium opening stock was recorded at 325075 tonnes. Live warrants and Cancelled warrants for the same day closed at 156300...
Hindalco Industries Limited has increased its aluminium ingot and aluminium products prices, with effect from Tuesday, July 19, following a cut last week, July 15. Hindalco’s aluminium ingot price has witnessed a hike of INR 4,250 per tonne to stand at INR 221,500 per tonne. On July 15, the price stood at INR 217,250 per tonne, seeing a cut of INR 2,000 per tonne from the previous day. Hindalco’s aluminium wire rod price has also been expanded by INR 4,250 per tonne or 1.86 per cent on July 19 to INR 232,600 per tonne. Last week, on July 15, the price hovered around INR 228,350 per tonne, down by INR 2,000 per tonne from INR 230,350 per tonne. Aluminium billets price has come in at INR 235,600 per tonne, up by INR 4,250 per tonne from INR 231,350 per tonne on July 15. Hindalco Industries...
According to the Shanghai Metals Market, primary aluminium inventories continued to decrease over the weekend ended July 18 by 15,000 tonnes across eight major consumption areas in China, including SHFE warrants. As per the data, inventories came in at 682,000 tonnes as of July 18, compared to 697,000 tonnes on July 14. In comparison with the same period last year, primary aluminium inventories as of July 18 stood 148,000 tonnes lower, showed SMM. The further downfall could be attributed to the purchase willingness among downstream buyers on aluminium price fall to around RMB 17,000 per tonne. The chart below indicates the current status of primary aluminium inventories across China in more details: In Wuxi, primary aluminium inventories decreased by 7,000 tonnes over the weekend to come...
Emirates Global Aluminium has received a prestigious recognition ‘Green Industries’ label by the Environment Agency – Abu Dhabi (EAD) for the environmental performance at the Al Taweelah site. The Green Industries labelling programme is a new initiative by EAD to appreciate outstanding environmental performance across Abu Dhabi industries. EGA accepted the recognition from Dr Shaikha Al Dhaheri, Secretary-General of the Environment Agency – Abu Dhabi (EAD), in a ceremony at the agency’s headquarter in Abu Dhabi, in presence of Mariam bin Mohammed Almheiri, Minister of Climate Change and the Environment. On receiving the recognition, Abdulnasser Bin Kalban, Chief Executive Officer of EGA, said: "Aluminium plays an essential role in the development of a more sustainable society and, at EGA,...
LME aluminium opened at US$2,336.5 per tonne Monday and closed at US$2,427 per tonne, an increase of US$87 per tonne or 3.72 per cent. LME aluminium cash bid price halted at US$2,377 per tonne, with a 2.48 per cent or US$57.50 per tonne escalation on Monday, July 18. LME aluminium official settlement price rested at US$2,377.50 per tonne, experiencing an upward strike of 2.46 per cent or US$57 per tonne. 3-month bid price grew by 2.35 per cent or US$55 per tonne to stand at US$2,390 per tonne, while the 3-month offer price witnessed a US$56 per tonne or 2.4 per cent hike to begin the week at US$2,392 per tonne. December 23 bid price and December 23 offer price climbed up the graph by US$57 per tonne or 2.4 per cent to rest at US$2,425 per tonne and US$2,430 per tonne, respectively. LME...
This financial year, Vedanta is on an expedition to activate two coal blocks in Odisha and is also plotting to quicken the operational instinct of another coal mine located in the eastern region. In recent times and primarily last year, thermal power plants and the non-regulated sectors have experienced power supply shortages, thrusting Vedanta to emphasise more on the long-term availability of coal. “We intend to operationalise Jamkhani and Radhikapur (West) (coal blocks…..,” as it was recorded by Vedanta in its integrated report and annual accounts pertaining to the years 2021-22. The company had won in auction, the authority over the Jamkhani coal block in 2019 and the Radhikapur West block, the next year. The company’s Jharsuguda aluminium smelter is situated very close to this...
National Aluminium Company Limited (NALCO) continued to axe its aluminium ingot and aluminium products prices, with effect from Friday, July 15. The company reduced its aluminium ingot price by INR 5,400 per tonne or 2.4 per cent to INR 216,350-219,850 per tonne. A week ago, July 8, NALCO’s aluminium ingot price was at INR 221,750-225,250 per tonne, down by INR 1,700 per tonne from INR 223,450-226,950 per tonne on June 21. NALCO’s aluminium wire rod price came in at INR 218,850-223,200 per tonne, with effect from July 15, also down by INR 5,400 per tonne from INR 224,250-228,600 per tonne on July 8. Aluminium billets price also experienced a cut of INR 5,400 per tonne from INR 225,200-227,850 per tonne on July 8 to INR 219,800-222,450 per tonne on July 15. NALCO links its aluminium ingot...
LME aluminium opened at US$2,335 per tonne last Friday and closed at US$2,340 per tonne, an increase of US$13 per tonne or 0.56 per cent. On Friday, July 15, both LME aluminium cash bid price and LME aluminium official settlement price slipped by US$8.5 per tonne or 0.36 per cent to halt at US$2,319.50 per tonne and US$2,320.50 per tonne. 3-month bid price and 3-month offer price also slumped by US$4.5 per tonne or 0.19 per cent and US$4 per tonne or 0.17 per cent to settle at US$2,335 per tonne and US$2,336 per tonne. December 23 bid price and December 23 offer price settled at US$2,368 per tonne and US$2,373 per tonne. Both of them inched up US$1 per tonne or 0.04 per cent. LME aluminium opening stock pegged at 333000 tonnes. Live warrants and Cancelled warrants 156300 tonnes and 176700...
Hindalco’s Aditya Aluminium that a operates smelter and power plant complex at Lapanga in Sambalpur has taken up the responsibility to revive water bodies and conserve running water, wastewater and rainwater in the Rengali Block habitation area. The majority of Odisha’s Sambalpur district, Rengali Block is facing an obtuse water crisis over uneven rainfall and water body depletions, which project an unhealthy outcome for the agricultural economy of the region. This initiative will provide the farmers of the place with a continuous source of water in the future for purposes of irrigation and cattle rearing. The Unit Head of Aditya Aluminium, Sameer Nayak, narrated: “Our teams have been working relentlessly to contribute towards biodiversity management. The result is reflected in the Aditya...
LME aluminium's official settlement price opened the week with a growth of US$17.5 per tonne to close at US$2,417 per tonne, which declined by US$59 per tonne the next day to halt at US$2,358 per tonne. On Wednesday, the LME aluminium benchmark price slumped by US$15 per tonne to stop at US$2,343 per tonne. On Monday, July 11, A00 aluminium ingot price in China opened the week with a dropdown of RMB 280 per tonne, which dropped by RMB 190 per tonne the next day to halt at RMB 17,990 per tonne. Vedanta Aluminium, the biggest manufacturer of aluminium in India, has joined up with TÜV SÜD, a pioneer in worldwide safety, security, and sustainability solutions, to achieve net water positivity. Rio Tinto, a major worldwide producer of metals and minerals, has announced that it would invest...
According to the Shanghai Metals Market, primary aluminium inventories in China witnessed a steep downfall of 26,000 tonnes week-on-week across eight major consumption areas, including SHFE warrants. Therefore, on Thursday, July 14, the inventories totalled 697,000 tonnes, which in comparison with the month’s first Monday, July 4, shrunk by a substantial 37,000 tonnes. As of now, the inventories in June stooped at 136,000 tonnes lower than in the same period last year. An increased downstream dip-buying was witnessed this week. The inventory in Wuxi got cleared out owing to pandemic-related arrival problems and smooth cargo outflows from warehouses. The South China inventory restrained growth and began to decline as lesser aluminium prices are appealing to consumers. Activities related to...
A00 aluminium ingot price in China closes the week with a slip of RMB 20 per tonne to settle at RMB 17,420 per tonne, says the SMM data. The average price for the same is expected to range between RMB 17,400 per tonne and RMB 17,440 per tonne, with spot contract to be traded at a premium price of RMB 20-60 per tonne. As of today, the price in Foshan has risen by RMB 10 per tonne to settle at RMB 17,380 per tonne. However, on the other hand, the price in Chongqing and Tianjin has dropped by RMB 80 per tonne and RMB 70 per tonne to score at RMB 17,400 per tonne and RMB 17,470 per tonne, respectively. On the same day, the price in Wuxi and Hangzhou has descended by RMB 30 per tonne and RMB 20 per tonne to peg at RMB 17,410 per tonne and RMB 17,460 per tonne. In Shenyang, the price has moved...
LME aluminium opened at US$2,357.5 per tonne on Thursday and closed at US$2,327 per tonne, down US$32 per tonne or 1.36 per cent. LME aluminium cash bid price stood at US$2,328 per tonne, with a 0.62 per cent or US$14.5 per tonne slump, according to London Metal Exchange. LME aluminium official settlement price halted at US$2,329 per tonne, experiencing a downfall of 0.6 per cent or US$14 per tonne on July 14, Thursday. 3-month bid price and 3-month offer price tumbled down US$15.5 per tonne or 0.66 per cent resting at US$2,339.50 per tonne and US$2,340 per tonne, respectively. December 23 bid price stood at US$2,367 per tonne, dropping by 0.34 per cent or US$8 per tonne, however, December 23 offer price closed at US$2,372 per tonne, moving down the same amount or percentage. LME...
The global metal and mining giant, Rio Tinto has announced that the group has decided in investing US$188 million (CA$240 million) to augment the production capacity for low-carbon, high-value aluminium billets at its Alma smelter in Lac-Saint-Jean, Quebec by 202,000 tonnes. The current casting centre at Rio Tinto's Alma facility will be expanded to accommodate new state-of-the-art equipment, counting a casting pit and furnaces, granting a larger portion of the aluminium produced to be recast to higher value billets. The construction will commence in May 2023, after completion of detailed engineering and preliminary work, while commissioning is anticipated during the first quarter of 2025. According to global market analysis and consultancy firm, the demand for aluminium extrusion...
LME aluminium opened at US$2,360.5 per tonne on Wednesday and closed at US$2,359 per tonne, down US$1 per tonne or 0.04 per cent. LME aluminium cash bid price closed at US$2,342.50 per tonne, with a US$14.5 per tonne or 0.61 per cent drop, according to London Metal Exchange. LME aluminium official settlement price also slumped by US$15 per tonne or 0.63 per cent to stop at US$2,343 per tonne. 3-month bid price and 3-month offer price tumbled down by US$15 per tonne or 0.63 per cent to peg at US$2,355 per tonne and US$2,355.50 per tonne. Both December 23 bid price and December 23 offer price declined by US$15 per tonne or 0.62 per cent to settle at US$2,375 per tonne and US$2,380 per tonne. LME aluminium opening stock came in at 340300 tonnes. Live warrants and Cancelled warrants for the...
LME aluminium opened at US$2,372 per tonne on Tuesday and closed at US$2,360 per tonne, down US$17 per tonne or 0.72 per cent. LME aluminium cash bid price stood at US$2,357 per tonne, with a 2.44 per cent or US$59 per tonne slump, according to London Metal Exchange. LME aluminium official settlement price halted at US$2,358 per tonne, experiencing a downfall of 2.44 per cent or US$59 per tonne on July 12, Tuesday. 3-month bid price tumbled down US$51 per tonne or 2.11 per cent resting at US$2,370 per tonne. 3-month offer price plunged by 2.17 per cent or US$52.50 per tonne to close at US$2,370.50 per tonne. December 23 bid price stood at US$2,390 per tonne, dropping by 1.77 per cent or US$43 per tonne. December 23 offer price closed at US$2,395 per tonne, moving down by US$43 per tonne...
On Wednesday, July 13, the A00 aluminium ingot price in China has declined by RMB 390 per tonne to halt at RMB 17,600 per tonne. As per the SMM data, the average price for the same is expected to range between RMB 17,580 per tonne and RMB 17,620 per tonne, with spot contract to be traded at a discount price of RMB 20 per to a premium price of RMB 20 per tonne. The A00 aluminium ingot price has witnessed a downfall in all the major provinces, with the highest in Linyi. The price in Linyi has nosedived by RMB 420 per tonne to close at RMB 17,700 per tonne. On the same day, the price in Foshan and Wuxi has plunged by RMB 390 per tonne to peg at RMB 17,460 per tonne and RMB 17,600 per tonne. In Chongqing and Shenyang, the price has descended by RMB 310 per tonne and RMB 350 per tonne to stop...
India's iconic aluminium manufacturer, Bharat Aluminium Company Limited (BALCO), a subsidiary of Vedanta Aluminium, conserved more than 22,000 gigajoules (GJ) of energy in FY22. As part of the company's commitment to reduce carbon emissions by 2050 or earlier, Balco is gaining ground toward decarbonizing its operations. Intending to conserve energy, in FY22, BALCO reduced: Specific Heavy Fuel Oil (HFO) consumption at its cast houses by 10% Specific power consumption (energy used for producing a unit of product) by 15% Scrap generation in Ingot Casting Machine by 20% and in Wire Rod Mill by 31%, thereby reducing energy used in re-melting, which is energy-intensive In addition, the company is using biomass briquettes to reduce its GHG emissions by 0.43 million tonnes of CO2 equivalent...
