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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Epsilon Carbon, India's foremost manufacturer of coal tar derivatives, as well as the nation's only backwards-integrated manufacturer of raw material, has agreed to collaborate with edible oil refiner Sri Anagha Refineries to construct molten pitch storage tanks at the refiner's premises in Mangalore on India's western coast. Storage tanks capable of holding 10,000 metric tons will be erected at the facility. The Mangalore Port is the seventh-largest port in the country and it is a place where some of the key primary commodities are imported as well as exported. The carbon company exemplified, “Since the port had a draft of 14 metres, it allowed vessels up to DWT of 100,000 MT to berth, and thus the facility would help Epsilon to scale up exports.” Epsilon further added, “Through this...
LME aluminium opened at US$2,436.5 per tonne on Monday and closed at US$2,377 per tonne, down US$66.5 per tonne or 2.72 per cent. On Monday, July 11, both LME aluminium cash bid price and LME aluminium official settlement price opened the week with a growth of US$17 per tonne or 0.70 per cent and US$17.5 per tonne or 0.72 per cent to close at US$2,416 per tonne and US$2,417 per tonne. On the same day, both 3-month bid price and 3-month offer price also climbed up by US$7 per tonne or 0.28 per cent and US$8.5 per tonne or 0.35 per cent to close at US$2,421 per tonne and US$2,423 per tonne. December 23 bid price and December 23 offer price dropped by US$2 per tonne or 0.08 per cent to score at US$2,433 per tonne and US$2,438 per tonne. LME aluminium opening stock settled at 343825 tonnes....
India's largest aluminium producer, Vedanta Aluminium has partnered with TÜV SÜD, a global leader in safety, security, and sustainability solutions, to become net water positive. As a part of this partnership, Vedanta Aluminium and TÜV will create a roadmap for the company's water positivity goal by enhancing the accounting process for water consumption, building capacity for continuous improvement and conservation, and implementing innovative solutions and initiatives. A key pillar in Vedanta Aluminium's approach to Environment, Social and Governance (ESG) excellence for climate action is water management, which aims to achieve net water-positive operations by 2030. A water-positive pledge helps companies align with the UN goal of ensuring that people have access to safe water while...
LME aluminium opened at US$2,449 per tonne last Friday and closed at US$2,443.5 per tonne, down US$4 per tonne or 0.16 per cent. LME aluminium cash bid price stood at US$2,399 per tonne, with a 0.72 per cent or US$17.50 per tonne slump, according to London Metal Exchange. LME aluminium official settlement price halted at US$2,399.50 per tonne, experiencing a downfall of 0.74 per cent or US$18 per tonne on July 8, Friday. 3-month bid price tumbled down US$19 per tonne or 0.78 per cent resting at US$2,414 per tonne. 3-month offer price plunged by 0.84 per cent or US$20.50 per tonne to close at US$2,414.50 per tonne. December 23 bid price stood at US$2,435 per tonne, dropping by 1.14 per cent or US$28 per tonne. December 23 offer price closed at US$2,440 per tonne, moving down by US$28 per...
After almost two weeks and close observation to the fluctuating LME aluminium price trend, NALCO revised its aluminium ingot and aluminium products prices on July 8. As per the price chart revealed, NALCO slightly cut its aluminium ingot price by INR 1,700, following two consecutive significant strokes last month. The company’s aluminium ingot price is now ranging between INR 221,750-225,250 per tonne versus INR 223,450-226,950 per tonne on June 21. NALCO’s aluminium wire rod price is also reduced by INR 1,700 per tonne from INR 225,950-230,300 per tonne on June 21 to INR 224,250-228,600 per tonne on July 8. Aluminium billets price also saw a cut of INR 1,700 per tonne to stand at INR 225,200-227,850 per tonne. On June 21, the price came in at 226,900-229,550 per tonne, seeing a downfall...
Due to the unique features of aluminium, like lightweight, recyclable, corrosion resistance, and high strength, the metal is considered one of the top choices for the manufacturing industry professionals. In addition to this, aluminium is a metal which is constantly under the experimental radar. Like, researchers at Nizhny Novgorod's Lobachevsky University created aluminium alloys with high plasticity demands that might be used to create electrical and engineering equipment. On the other hand, the news of Alcoa idling one of its three potlines at Warrick aluminium owing to operational issues gathered much attention. Vedanta Limited formally announced on July 7, that it would pay INR 564.67 crore to purchase a 100% share in the heavily indebted Athena Chhattisgarh Power Limited. Under the...
LME aluminium benchmark price displayed an oscillating trend this week, ending lower on Friday, July 8. LME aluminium cash bid price and LME aluminium official settlement price started at US$2,431 per tonne and US$2,431.50 per tonne as of Monday, July 4, seeing an increase of 2 per cent from the previous day. Next day, on July 5, the prices slumped by US$59 per tonne and US$57.50 per tonne, respectively, to come in at US$2,372 per tonne and US$2,374 per tonne. The prices decreased further on July 6 to US$2,357 per tonne and US$2,358 per tonne but grew the next day by 2.5 per cent to settle at US$2,416.50 per tonne and US$2,417.50 per tonne, respectively. However, on Friday, LME aluminium cash bid price and LME aluminium official settlement price shrank by US$17.50 per tonne and US$18 per...
On Thursday, July 7, Vedanta Limited officially announced that it would acquire a 100 per cent stake in debt-ridden Athena Chhattisgarh Power Limited for INR 564.67 crore. The mode of payment is most likely to be cash, and the transaction is expected to complete in FY2022-23. The news came after the company said in a regulatory filing, "Vedanta Limited to acquire 100% of the paid-up capital of Athena Chhattisgarh Power Limited." The investment in 1200MW thermal power plant will be beneficial for Vedanta’s aluminium business as the latter would be able to secure required electricity for smelting at cheaper cost. Athena power plant is located at Jhanjgir Champa district, Chhattisgarh, India, at a distance of nearly 80 Km from BALCO and 180 Km from Jharsuguda. The power plant has two units...
The Alcoa-owned Portland Aluminium smelter, Australia's second-largest aluminium producer, is in talks with Aloft Holdings, a Dutch company run by an Australian investment banker. According to our report, people familiar with the situation stated, that Aloft Holdings which was floated in November 2021 to buy and run aluminium assets globally, has done the assessment of the Portland aluminium smelter and has been in dialogue with American Industrial Corporation, Alcoa’s Australian assets for months in regards to a potential deal. Furthermore, Aloft also moved to Australian and offshore financial institutes for debt funding, to strive its offer into a fully funded bid. In the past six months, Alcoa's local subsidiary Alcoa of Australia held confidential discussions with Aloft and other...
Hindalco Industries Limited has revised its aluminium products and aluminium ingot prices this week, which, as per the data, has trended up after witnessing a cut on July 6. With effect from July 8, Hindalco has scaled up its aluminium wire rod price by INR 3,750 per tonne or 1.69 per cent to INR 233,850 per tonne, after recording a decline of INR 4,750 per tonne on July 6 to INR 230,100 per tonne. The price of aluminium billets also expanded by INR 3,750 per tonne or 1.60 per cent to halt at INR 236,850 per tonne. The amount recorded on July 6 closed at INR 233,100 per tonne, which was down by INR 4,750 per tonne from 237,850 per tonne a day before. Hindalco also raised its aluminium ingot price by INR 3,750 per tonne or 1.71 per cent from INR 219,000 per tonne on July 6 to INR 222,750...
Scientists at Nizhny Novgorod-based Lobachevsky University have developed aluminium alloys with high plasticity requirements that may be utilised to make equipment and electrical engineering. Aluminium alloys have the highest degree of hardness possible due to the existence of ultrafine grains, yet when heated, these alloys may expand several times their original size and become superplastic. Aleksey Nokhrin, director of the materials diagnostics laboratory of the university, notes that the use of scandium in the alloy leads to the formation of large pores in the case of superplasticity. This was avoided by annealing the alloy at low temperatures, causing the nanoparticles to take on a spherical shape, which helped in the formation of superplastic aluminium alloys. “Superplasticity allows...
Vedanta Limited has escalated its aluminium ingot and aluminium products prices with effect from Friday, July 8, following two consecutive days of cut on July 6 & 7. As per the price chart revealed, Vedanta has hiked its aluminium ingot price by INR 4,250 per tonne or 1.97 per cent to INR 220,500-252,000 per tonne on July 8. On July 7, the ingot price stood at INR 216,250-247,750 per tonne, seeing a decline of INR 2,750 per tonne from the previous day. Vedanta’s aluminium wire rod price has also been increased by INR 4,250 per tonne from INR 223,750- 231,250 per tonne on July 7 to INR 228,000–235,500 per tonne on July 8. Aluminium billet price has come in at INR 229,500 per tonne versus INR 225,250 per tonne on July 7. Vedanta Limited links its aluminium ingot and aluminium products...
LME aluminium opened at US$2,375 per tonne on Thursday and closed up 1.31 per cent. Both LME aluminium cash bid price and LME aluminium official settlement price expanded by US$59.5 per tonne or 2.52 per cent on Thursday, July 7, following two consecutive downfalls from US$2,374 per tonne to US$2,358 per tonne. As of July 7, LME aluminium cash bid price and LME aluminium official settlement price closed at US$2,416.50 per tonne and US$2,417.50 per tonne. 3-month bid price and 3-month offer price also surged by US$54 per tonne or 2.26 per cent and US$55 per tonne or 2.31 per cent to halt at US$2,433 per tonne and US$2,435 per tonne. December 23 bid price and December 23 offer price also climbed the graph by US$41 per tonne to stand at US$2,463 per tonne and US$2,468 per tonne. LME...
According to the Shanghai Metals Market, social inventories of primary aluminium have decreased by 11,000 tonnes week-on-week across China's eight major consumption areas, following a restraint over the weekend on Monday, July 4. As per the SMM data, inventories as of July 7 have come in at 723,000 tonnes versus 734,000 tonnes on June 30. Decline in inventories this week has primarily been contributed by Wuxi as some downstream buyers increased purchase on primary aluminium price fall to around RMB 18,000 per tonne over the past two days. The chart below indicates the current status of primary aluminium inventories across China in more details: In Wuxi, primary aluminium inventories have plummeted by 19,000 tonnes week-on-week to come in at 245,000 tonnes, followed by a dip of 1,000...
Fully owned and operated by South32, South Africa-based Hillside Aluminium has collaborated with Solana Energy to provide entry of renewable energy to one of the country’s most crucial commercial hubs. With its launch in June 2022, this multi-phased project will enable renewable solar power infrastructure to be introduced into Richards Bay and King Cetshwayo District (KCD), adding between 2MW and 2.5MW of renewable energy capacity to the local grid within a year. This will allow businesses that supply Hillside Aluminium to start experiencing the benefits of renewable energy. This partnership will lower electricity costs and greenhouse gas emissions for workers and businesses, and drive investment that will support the transition to a low-carbon economy in the region. Rob Jackson, the Vice...
LME aluminium opened at US$2,375 per tonne on Wednesday and rose to US$2,423 per tonne before closing at US$2,400 per tonne, an increase of US$31 per tonne or 1.31 per cent. LME aluminium cash bid price stood at US$2,357 per tonne, with a 0.63 per cent or US$15 per tonne slump, according to London Metal Exchange. LME aluminium official settlement price halted at US$2,358 per tonne, experiencing a downfall of 0.67 per cent or US$16 per tonne on July 6. 3-month bid price decreased by 0.33 per cent or US$8 per tonne, coming in at US$2,379 per tonne. 3-month offer price stood at US$2,380 per tonne with a 0.31 per cent or US$7.50 per tonne loss. December 23 bid price and December 23 offer price shed US$1 per tonne or 0.04 per cent, closing at US$2,422 per tonne and US$2,427 per tonne,...
Today, on June 6, the largest industrial organisation in the UAE, excluding oil and gas, Emirates Global Aluminium (EGA) declared their plan of mounting highly-automated, multi-functional overhead cranes in Jebel Ali in a journey to own fully automated cranes utilised in reduction cell tending and also to obtain future jobs in the fast-developing world. As part of the replacement deal, EGA will be taking out sixteen worn-out 25-years old cranes and interchanging them with 14 latest models that feature auto-positioning and advanced sensory abilities. Fives, a French industrial engineering group, has agreed to provide the new cranes. All the 14 new cranes have to be installed and activated by 2025, with the first crane scheduled for delivery by the end of 2023. EGA claims that the...
Hindalco Industries Limited has slashed its aluminium ingot and aluminium products prices, with effect from July 6, following a hike on the previous day. Hindalco has axed its aluminium ingot price by INR 4,750 per tonne or 2.12 per cent to INR 219,000 per tonne. On July 5, the company’s ingot price stood at INR 223,750 per tonne, witnessing a rise of INR 3,000 per tonne. Hindalco’s aluminium wire rod price has also been cut by INR 4,750 per tonne on July 6, following an increase of INR 3,000 per tonne on July 5. Therefore, the wire rod price as of July 6 has come in at INR 230,100 per tonne as against INR 234,850 per tonne on the previous day. Hindalco’s aluminium billets price has undergone a cut of INR 4,750 per tonne on July 6 to INR 233,100 per tonne versus INR 237,850 per tonne on...
