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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On Friday, February 17, China’s A00 aluminium ingot price gained RMB 30 per tonne to stand at RMB 18,460 per tonne. However, on a W-o-W calculation, the aluminium ingot price has plunged by RMB 110 per tonne from RMB 18,570 per tonne recorded on February 10. The spot contract price as of today is expected to be traded at a discount price of RMB 90 per tonne to RMB 50 per tonne. The average prices will likely range between RMB 18,440 per tonne and RMB 18,480 per tonne. The price in Chongqing and Shenyang has grown by RMB 50 per tonne and RMB 40 per tonne, to stop at RMB 18,510 per tonne and RMB 18,490 per tonne. In Wuxi, the A00 aluminium ingot price has moved up by RMB 35 per tonne to score at RMB 18,455 per tonne. On the same day, the prices in Gongyi, Foshan and Tianjin increased by RMB...
India’s iconic aluminium producer and a subsidiary of Vedanta Aluminium Business, Bharat Aluminium Company Limited (BALCO), appointed Rajesh Kumar as its new Chief Executive Officer (CEO) and Whole Time Director (WTD). When it comes to operations, maintenance, project implementation, and efficient development in Tata Steel's Indian and Thai facilities, Rajesh Kumar has extensive industry experience spanning 36 years. He graduated from Banaras Hindu University with a B Tech in Mechanical Engineering (IIT BHU) and obtained his master's degree in business administration from XLRI, Jamshedpur, where he won a gold medal in finance (MBA). Rajesh Kumar, the new CEO of BALCO, has a wealth of experience in large-scale project execution, organizational excellence, and plant commissioning. He has...
On Thursday, February 16, China’s aluminium billet inventory slumped by 12,100 tonnes from 214,400 tonnes recorded the previous week. The inventory as of today settled at 202,300 tonnes. After earlier halting the increasing trend, there were two weeks of fall. Each of the five major markets saw a decline in inventory due to a significant outflow of goods from warehouses. Production of aluminium billets has essentially been restored to normal levels, and vast quantities of billets have flooded the market in east China, causing havoc with prices. The figure below provides further information on the current state of aluminium billet inventories in China: As per the SMM data, the inventories in Foshan and Huzhou have plunged by 9,700 tonnes and 1,000 tonnes to peg at 99,500 tonnes and 48,000...
According to the Shanghai Metals Market data, China’s social inventories of primary aluminium have extended W-o-W growth but at a slower rate than the previous week. SMM data shows the inventories have amounted to 1.22 million tonnes across eight major consumption areas, including SHFE warrants, registering an increase of 26,000 tonnes than a week ago and 177,000 tonnes a year earlier. It is to be noted here that comparing the inventory with Monday, February 13, it has dipped by 2,000 tonnes. Going ahead, China’s primary aluminium inventories are expected to see mild growth considering Yunnan aluminium smelters are still at risk of production cuts due to power shortages. To know the current status of the primary aluminium inventories across China in more detail, refer to the chart below:...
Fast Forward Zero, a climate and sustainability company, has launched its services to help businesses transform into net zero, circular and inclusive operating models. Empowering business transformations with real climate impact, Fast Forward Zero will also help investors and other business leaders build collaborative coalitions to shape better systems and solve complex problems. Jerome Lucaes, the company's CEO, leveraging over 25 years of experience, is working with a network of well-established experts and institutions to develop relevant and applicable solutions that inspire sustainable transformations to leverage unique competitive advantages. Jerome is one of the few business leaders with real experience and premium sustainability achievements that have been transformative for the...
The largest aluminium producer in India, Vedanta Aluminium, hosted the first edition of the International Aluminium Conference 2023 (IAC 2023) held on February 9-10, 2023 at its operations in Jharsuguda, Odisha in partnership with the Aluminium Association of India, concluded with a high hope by bringing India closer to become the "Aluminium Capital of the World". As India's leading business-to-business platform dedicated to the aluminium manufacturing value chain, the International Aluminium Conference facilitates collaboration among stakeholders in the aluminium manufacturing industry. Rahul Sharma, the CEO of Vedanta Aluminium Business, said, "We are delighted to have hosted some of the world's most innovative minds, experts in the metal & manufacturing field, and key players in the...
LME aluminium opened at US$2,414 per tonne on Wednesday and closed at US$2,388 per tonne, a decrease of US$19.5 per tonne or 0.81 per cent. On Wednesday, February 15, both LME aluminium cash bid price and LME official settlement price dropped by US$22.5 per tonne or 0.94 per cent and US$24 per tonne or 1 per cent to halt at US$2,366.50 per tonne and US$2,367 per tonne. 3-month bid price and 3-month offer price slipped by US$27 per tonne or 1.11 per cent to peg at US$2,392 per tonne and US$2,393 per tonne. December 24 bid price and December 24 offer price decreased by US$28 per tonne or 1.08 per cent and 1.07 per cent to settle at US$2,560 per tonne and US$2,565 per tonne. LME aluminium opening stock came in at 602150 tonnes. Live warrants and Cancelled warrants scored at 453700 tonnes and...
Vedanta Limited cut its aluminium ingot and aluminium products prices by INR 3,500 per tonne on Tuesday, February 14. That brought the company’s aluminium ingot price to INR 227,750-258,250 per tonne versus INR 231,250-261,750 per tonne on February 7. With the latest cut, Vedanta’s aluminium wire rod price came in at INR 235,250-242,750 per tonne, also down by INR 3,500 per tonne from INR 238,750-246,250 per tonne last week. The company’s aluminium billet price stood at INR 236,750 per tonne compared to INR 240,250 per tonne on Friday, February 7. Vedanta reduced its aluminium ingot and aluminium products prices in response to the three-month futures of aluminium on the London Metal Exchange. On Monday, February 13, the LME aluminium benchmark price plunged by US$52.50 per tonne to stand...
Hydro entered the year 2022 amid a strong aluminium market but soon was dominated by a devastating war in Europe, an energy crisis, inflation, and a global economic slowdown, including a significant fall in demand. But amid all this, the company succeeded in delivering record results for the year, as posted in its annual report. On Tuesday, February 14, Hydro posted a 38.94 per cent Y-o-Y hike in revenue from NOK 149,654 million to NOK 207,929 million in the annual financial and operational report for 2022. According to the company, their strong cost position and high prices of aluminium helped them earn higher revenue in 2022 than the previous year. Hydro’s net income from continuing operations surged by 75.03 per cent from NOK 13,930 million in 2021 to NOK 24,381 million in 2022....
One of North America’s fastest-growing and leading producers of aluminium billet and slab, Matalco, announced the completion of its new facility in Franklin, Kentucky. The new facility began operations in December 2022 and is known for producing aluminium ingot slabs from secondary aluminium. With a capacity to manufacture 135,000 tonnes annually, the new factory was built by Matalco for around $65 million. According to Matalco, the business is considering purchasing more machinery to increase the yearly capacity to 176,000 tonnes. Matalco is an independent secondary aluminium billet maker with its corporate headquarters in Brampton, Ontario. Furthermore, the Ontario-based aluminium billet manufacturer claimed that it sourced secondary aluminium from Triple M Metal and its current...
After touching a 5-week low on Monday, February 13, both LME aluminium cash bid price and LME aluminium official settlement price grew by US$7.50 per tonne and US$8.50 per tonne the next day to stand at US$2,389 per tonne and US$2,391 per tonne, as of February 14. But the 3-month bid price and 3-month offer price continued to record a drop by US$4 per tonne from February 13 to settle at US$2,419 per tonne and US$2,420 per tonne on February 14. December 24 bid price and December 24 offer price declined by US$10 per tonne or 0.38 per cent to come in at US$2,588 per tonne and US$2,593 per tonne, respectively. LME aluminium opening stock accumulated 24,825 tonnes to close above 600,000 tonnes. As per the data, the LME stock stood at 601,600 tonnes. Live warrants increased to 454,300 tonnes,...
China's A00 aluminium ingot price has grown by RMB 30 per tonne following yesterday's decline. However, in a W-o-W context, the price has marked a downfall of RMB 570 per tonne. The price as of today rested at RMB 18,490 per tonne, with the average prices likely to range between RMB 18,470 per tonne and RMB 18,510 per tonne, with the spot contract price likely to be traded at a discount price of RMB 50 to RMB 10 per tonne. The price in Foshan has gone up by RMB 40 per tonne to halt at RMB 18,500 per tonne, followed by a rise of RMB 30 per tonne in Gongyi and Linyi, where the prices have closed at RMB 18,400 per tonne and RMB 18,540 per tonne. In Chongqing, the price has moved up by RMB 20 per tonne to stop at RMB 18,500 per tonne. On the other hand, in provinces like Shenyang, the price...
Hindalco Industries Limited has further reduced its aluminium ingot and aluminium products prices by INR 3,500 per tonne or 1.5 per cent with effect from Tuesday, February 14. That has brought the company’s aluminium ingot price to INR 226,750 per tonne versus INR 230,250 per tonne on February 10. Hindalco’s aluminium wire rod price has come in at INR 237,850 per tonne, compared to INR 241,350 per tonne last week. Aluminium billets price stands at INR 240,850 per tonne, in comparison with INR 244,350 per tonne on Friday, February 10. Hindalco links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which shrank by US$52.50 per tonne from US$2,435 per tonne on February 10 to US$2,382.50 per tonne on February 13. Aluminium...
According to the Shanghai Metals Market, A00 aluminium ingot price in China has dipped by RMB 10 per tonne, marking the fourth consecutive fall. The data suggests though the price has lost only RMB 10 per tonne on Tuesday, February 14, it has registered a week-on-week fall of RMB 540 per tonne. The price has come in at RMB 18,460 per tonne today, with average prices estimated to range between RMB18,440 per tonne and RMB 18,480 per tonne. The spot contract will likely trade at a discount price of RMB 50-10 per tonne. SMM data also shows that except for Foshan, all the Chinese provinces have uniformly experienced a downfall of RMB 10 per tonne. Thus, in Gongyi, Wuxi, and Hangzhou, primary aluminium ingot price has pegged at RMB 18,370 per tonne, RMB 18,455 per tonne, and RMB 18,470 per...
LME aluminium opened at $2,459.5 per tonne on Monday and closed at $2,421.5 per tonne, a decrease of $26.5 per tonne or 1.08 per cent. On Monday, February 13, aluminium prices reached five-week lows as rising stockpiles in LME-approved warehouses dampened investor mood. As per the data, both LME aluminium cash bid price and LME aluminium official settlement price plunged by US$52.5 per tonne or 2.19 per cent and 2.15 per cent to come in at US$2,381.50 per tonne and US$2,382.50 per tonne. 3-month bid price and 3-month offer price dropped by US$42 per tonne or 1.70 per cent to close at US$2,423 per tonne and US$2,424 per tonne. December 24 bid price and December 24 offer price slipped by US$37 per tonne or 1.40 per cent to settle at US$2,598 per tonne and US$2,603 per tonne. LME aluminium...
The Saudi state-owned mining company headquartered in Riyadh, Ma'aden, has reported a more than 87 per cent leap in its full-year 2022 net profit, enhanced by higher sales and higher average prices. On February 13, 2023, the largest multi-traded mining company in the Middle-East region, Ma’aden, during filing to the Tadawul stock exchange, stated that the company posted $3.23 billion (Saudi riyals 12.13 billion) in net profit in 12 months to the end of December. Ma’aden is also in the aluminium business, and its move into aluminium production is to maximize the minerals and metals value chain. Ma’aden established a joint venture with Alcoa to build the world’s most efficient and integrated aluminium complex in Saudi Arabia. This USD$ 10.8 billion project includes a bauxite mine, an...
Under its Responsible Products Framework, the Green Building Council of Australia's Green Star (GBCA) acknowledged Aluminium Stewardship Initiative's V3 Performance Standard certification (ASI V3). This was carried out after a benchmarking review with GBCA in 2022. Green Star uses industry-standard programmes and efforts to validate how environmentally friendly a product is. As a result, ASI-certified members can now contribute to Green Star credit points for the structure of a project (under the "Green Star Building" category: Responsible Structure, Responsible Envelope, Responsible Finishes, and Responsible Systems). Green Star, an internationally renowned grading system that establishes the benchmark for healthy, resilient, and positive buildings and settings, was established by the...
National Aluminium Company Limited (NALCO) has cut its aluminium ingot and aluminium products prices for the second time in a row within a week. With effect from Saturday, February 11, NALCO has reduced its aluminium ingot price by INR 4,300 per tonne or 1.8 per cent to INR 231,850-235,350 per tonne. The previous cut was on February 7 when NALCO’s aluminium ingot price experienced a plunge of INR 7,800 per tonne to INR 236,150-239,650 per tonne. On February 11, NALCO reduced its aluminium wire rod price by INR 4,300 per tonne to sell the product at INR 236,350-240,700 per tonne versus INR 240,650-245,000 per tonne on February 7. The company’s aluminium billets price is no exception but has also been cut by the same amount to INR 236,300-238,950 per tonne as of February 11, compared to INR...
