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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Citigroup Inc. or Citi, an American multinational investment bank and financial services company, stated that, with the reopening of the Chinese economy, the demand for aluminium is expected to rise, surpassing iron-ore. The broker emphasised the numerous supply issues faced by aluminium, which analysts predict would coincide with a seasonal and reopening-driven revival in demand, leading to a considerable tightening of the physical market in China. Citi forecasted that this would increase aluminium prices to US$2700 ($3964) per tonne for the following three months and suggested that they might reach US$3000 per tonne. These projections indicate an increase of 13 per cent and 25 per cent, respectively, above the current price of US$2388 per tonne. Supply disruptions will worsen in the...
The Anglo-Australian mining and metal company Rio Tinto has formally changed its designation of Taiwan in its regular revenue reports. Taiwanese client revenues will now be reported as coming from "Greater China" rather than the previous designation of "other Asian regions," which excluded China and Japan. An Australian business-focused print media house reported the change. The financial reporting house also published that Rio Tinto receives over 50 per cent of its annual revenue from China. Additionally, the Chinese state-owned mining and metal company, Chinalco, is Rio Tinto’s largest shareholder, with just over 14 per cent ownership. During the 2008 financial crisis, Chinalco strived to acquire a more significant stake in Rio Tinto, but the Australian government occluded the...
The Indonesian company engaged in the activity of bauxite mining PT Cita Mineral Investindo Tbk. (CITA) delivered guarantees to associated companies PT Kalimantan Aluminum Industry (KAI) and PT Kaltara Power Indonesia (KPI) worth US$249.5 million (IDR 3.8 trillion). In the information disclosure on the Indonesia Stock Exchange (IDX), CITA's management said, "CITA would seek approval from the shareholders at the Extraordinary General Meeting (EGM) in connection with the plan for a guarantee transaction from CITA in the form of a corporate guarantee that KAI and KPI will receive. The guaranteed value is estimated at around US$249.5 million (Rp.3.8 trillion) This guarantee is based on CITA's proportionate shareholding in KAI and KPI for the loan facility that KAI and KPI will receive, with a...
According to the Shanghai Metals Market, China's domestic A00 aluminium ingot price has suffered a loss of RMB 140 per tonne on Friday, February 24, after displaying restraint for the past two consecutive days. SMM data shows the price has come in at RMB 18,480 per tonne, standing W-o-W high by RMB 20 per tonne. The average prices are estimated to range between RMB 18,460 per tonne and RMB 18,500 per tonne today, with a spot contract likely to trade at a discount price of RMB 130-90 per tonne. Muted consumption of the metal, rising inventory, and overseas interest rate hikes together contributed to the poor price trend. Generally speaking, it is currently in the process of transitioning from low to peak season. In Wuxi, Hangzhou, and Shenyang, China’s domestic A00 aluminium ingot price...
LME aluminium opened at US$2,415 per tonne on Thursday and closed at US$2,389.5 per tonne, a decrease of US$23.5 per tonne or 0.97 per cent. On Thursday, February 23, both LME aluminium cash bid price and LME aluminium official settlement price went down by US$17 per tonne or 0.71 per cent to settle at US$2,368 per tonne and US$2,368.50 per tonne. 3-month bid price and 3-month offer price fell by US$20.5 per tonne or 0.84 per cent and US$21 per tonne or 0.86 per cent to score at US$2,407.50 per tonne and US$2,408 per tonne. December 24 bid price and December 24 offer price slipped by US$15 per tonne or 0.57 per cent to reside at US$2,585 per tonne and US$2,590 per tonne. LME aluminium opening stock came in at 568800 tonnes. Live warrants and Cancelled warrants were halted at 447575 tonnes...
On Thursday, the aluminium billets inventories in China plunged by 21,300 tonnes W-o-W to halt at 181,000 tonnes. This week, the stockpile of aluminium billets accelerated the decline. Each of the four major markets saw a decrease in inventory due to massive cargo outflows from warehouses, with Nanchang being an exception. The demand, however, has constantly been increasing. As a result, the overall inventories are anticipated to continue to decline the following week. The figure below provides further information on the current state of aluminium billet inventories in China: As per the data, the inventories in Wuxi and Foshan slumped by 8,400 tonnes and 6,400 tonnes to stop at 39,400 tonnes and 93,100 tonnes. In Huzhou and Changzhou, the inventories recorded a drop of 6,000 tonnes and...
According to the Shanghai Metals Market survey, social inventories of primary aluminium have grown by 15,000 tonnes over a week ending Thursday, February 23. On a week-on-week basis, the stocks have increased by 32,000 tonnes across eight major consumption areas, including SHFE warrants, to amount to 1.248 million tonnes. Aluminium ingot inventories have grown slowly as the warehouses in Gongyi and south China controlled cargo inflows due to limited storage and equipment maintenance, respectively. However, in the short term, the inventory is expected to stabilise at a higher level. The chart below indicates the current status of primary aluminium inventories across China in more details: Among the major consumption areas, Wuxi has reported the highest accumulation of stocks over a week....
Hindalco Industries Limited has cut its aluminium ingot and aluminium products prices, with effect from February 23, after two consecutive hikes on February 21 and 22, on account of the LME aluminium price drop. The company has reduced its aluminium ingot price by INR 3,750 per tonne or 1.62 per cent to bring it back to INR 227,500 per tonne like on February 21. On February 22, the price stood at INR 231,250 per tonne. Hindalco has also axed its aluminium wire rod and billets prices by INR 3,750 per tonne on February 23 to sell its products at INR 238,600 per tonne and INR 241,600 per tonne, respectively. Hindalco links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metals Exchange, which slumped by US$45 per tonne on Wednesday,...
Three-month LME aluminium opened at US$2,458.50 per tonne last night and closed at US$2,413 per tonne, down US$46 per tonne or 1.87 per cent. On Wednesday, February 22, the LME aluminium benchmark price registered a significant decline after two consecutive days of hike. While the LME aluminium cash bid price plummeted by US$45 per tonne to US$2,385 per tonne, the LME aluminium official settlement price slumped by US$45.50 per tonne to settle at US$2,385.50 per tonne. The 3-month bid price and 3-month offer price shrank by US$42 per tonne and US$43 per tonne to peg at US$2,428 per tonne and US$2,429 per tonne, respectively. December 24 bid price and December 24 offer price contracted US$35 per tonne to close at US$2,600 per tonne and US$2,605 per tonne. LME aluminium opening stock stood...
On Thursday, February 23, A00 aluminium ingot price in China has remained restrained since Tuesday, February 21. The price as of today settled at RMB 18,620 per tonne, with the average prices standing between RMB 18,600 per tonne and RMB 18,640 per tonne. The spot contract price is expected to be traded at a discount price of RMB 120 to RMB 80 per tonne. However, on a W-o-W calculation , the price has fallen by RMB 190 per tonne from RMB 18,430 per tonne. As of today, the A00 aluminium ingot price in Tianjin has gained RMB 40 per tonne to halt at RMB 18,640 per tonne. On the other hand, in Foshan and Hangzhou, the prices have gone down by RMB 10 per tonne and RMB 5 per tonne to peg at RMB 18,620 per tonne and RMB 18,615 per tonne. In the other provinces like Gongyi, Wuxi and Chongqing,...
Emirates Global Aluminium welcomed His Highness Mohamed Ibrahim Al Hammadi at the Al Taweelah facility in Abu Dhabi. He is the Managing Director and Chief Executive Officer of Emirates Nuclear Energy Company (ENEC), Emirates Nuclear Energy Corporation is responsible for deploying and owning nuclear energy plants in the UAE. Chief Executive Officer Abdulnasser Bin Kalban and a group of executives greeted His Excellency and his delegation to EGA. The discussions focused on the two firms' respective contributions to the future of sustainable energy in the UAE. Via a long-term arrangement, ENEC provides power to EWEC, which EWEC then sells to other parties for dispatch. "The Barakah Nuclear Energy Plant provides a significant amount of EWEC's clean electricity and will continue to deliver the...
The world's primary aluminium production initiated the year 2023 with an annual increase of 3.33 per cent from 5.648 million tonnes to 5.836 million tonnes, found the International Aluminium Institute. But on a month-on-month calculation, the output slightly dropped by 0.58 per cent compared to 5.870 million tonnes. The average daily production stood at 188,300 tonnes in January 2023, also down by 0.58 per cent month-on-month from 189,400 tonnes and up by 3.3 per cent year-on-year from 182,200 tonnes. China in January 2023 produced 3.44 million tonnes (estimated) – 1.15 per cent less than 3.48 million tonnes a month ago but 5.78 per cent more than 3.252 million tonnes a year earlier. In the entire 2022, China's primary aluminium production totalled 40.430 million tonnes. In the GCC...
As expected earlier, aluminium production cut in Yunnan province and weaker-than-expected demand recovery would make the metal prices range-bound; both primary aluminium ingot price and aluminium alloys prices have remained muted as of Wednesday, February 22. According to the Shanghai Metals Market, China’s domestic A00 aluminium ingot price has recorded no change from RMB 18,620 per tonne, with average prices continuing to range between RMB 18,600 per tonne and RMB 18,640 per tonne. However, in some Chinese provinces, the ingot price has moved up and down. For instance, in Gongyi and Foshan, the price has grown by RMB 10 per tonne to stand at RMB 18,490 per tonne and RMB 18,630 per tonne, respectively. In contrast, the price in Linyi, Tianjin, and Hangzhou has dropped by RMB 30 per...
LME aluminium opened at US$2,455 per tonne on Tuesday and closed at US$2,459 per tonne, a decrease of US$3 per tonne or 0.12 per cent. On Tuesday, February 22, both LME aluminium cash bid price and LME aluminium official settlement price hiked by US$40 per tonne or 1.67 per cent and US$38.5 per tonne or 1.60 per cent to stand at US$2,430 per tonne and US$2,430.50 per tonne. 3-month bid price and 3-month offer price surged by US$42 per tonne or 1.72 per cent to stand at US$2,470 per tonne and US$2,472 per tonne. December 24 bid price and December 24 offer price expanded by US$37 per tonne or 1.42 per cent to halt at US$2,635 per tonne and US$2,640 per tonne. LME aluminium opening stock halted at 581300 tonnes. Live warrants and Cancelled warrants closed at 451725 tonnes and 129575 tonnes....
China's Yunnan province has ordered the aluminium smelters in the region to implement another round of production restrictions to stabilise the electricity supply. The protracted drought and low reservoir levels have caused problems for the province's hydroelectric grid. However, On February 19, 2023, Alcircle.com reported the possibility of power rationing in the Yunnan region, which might impede the production of the aluminium smelters. The energy-intensive aluminium producers in Yunnan and neighbouring provinces had been already functioning their smelters with reduced capacity, while a few are trailing down China's national output since September. According to our regional sources, some 740,000 tonnes of yearly production capacity would be affected by the most recent cuts, adding to...
Lightweight, strong, durable, and infinitely recyclable, aluminium is the sustainable material of choice. In addition to contributing billions of dollars to the global economy, aluminium supports countless supply chains worldwide. Yet, due to its energy-intensive production and refinement procedures, claimed to contribute significantly to global carbon emissions, aluminium is under heightened scrutiny, much like all other manufactured products. Aluminium producers worldwide are adopting environmentally friendly production methods in response to being placed under the spotlight on climate change. In order to accelerate their decarbonization efforts, they are shifting to renewable energy, investing in green technologies, and even studying carbon capture and storage solutions. However,...
The days when premium car purchasers just considered speed, flair, and luxury are long gone. The origin, sustainability, and emissions profile of the materials used to build today's automobiles are topics of growing public concern. "Green is the new black" has become the industry catchphrase for luxury vehicles. Premium car consumers are becoming increasingly pickier about the materials used in their cars, from the leather used for the upholstery to the metals used for the engine parts. This fundamental transition in the automotive market has resulted in a new, innovative partnership between Rio Tinto and the BMW Group , two industry leaders, to develop more responsible, sustainable, traceable, and secure supply chains. Rio Tinto intends to supply responsibly sourced aluminium to the BMW...
Three-month LME aluminium opened at US$2,395 per tonne on Monday and closed at US$2,462 per tonne, an increase of US$72 per tonne or 3.01 per cent. On Monday, February 20, LME aluminium cash bid price and LME aluminium official settlement price skyrocketed by US$55.50 per tonne and US$57 per tonne, respectively, to stand at US$2,390 per tonne and US$2,392 per tonne. That marked an increase after three consecutive days of fall from US$2,391 per tonne on February 14 to US$2,335 per tonne on February 17. 3-month bid price and 3-month offer price surged by US$56 per tonne or 2.36 per cent to clock at US$2,428 per tonne and US$2,430 per tonne. December 24 bid price and December 24 offer price totalled US$2,598 per tonne and US$2,603 per tonne. LME aluminium opening stock continued to decline...
