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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In May 2022, primary aluminium production in Africa rebounded to 138,000 tonnes after a dip in the previous month. According to the International Aluminium Institute’s latest data, Africa’s primary aluminium output in May witnessed an increase of 7,000 tonnes or 5.34 per cent month-on-month. In April, the output stood at 131,000 tonnes, down by 6,000 tonnes or 4.38 per cent from 137,000 tonnes in March 2022. On a year-on-year calculation, Africa’s primary aluminium production in May’22 grew slightly by 2,000 tonnes from 136,000 tonnes, showed IAI. In the first five months of 2022, Africa’s primary aluminium production totalled 666,000 tonnes, flaunting a hike of 2.30 per cent or 15,000 tonnes from 651,000 tonnes during the corresponding period of last year. World primary aluminium...
On Monday, June 20, Aluminium Bahrain B.S.C. (Alba) inaugurated a new Environment, Social and Governance (ESG) campaign across all its plants to reinforce Alba ESG Roadmap’s six priority areas, in line with Bahrain’s commitment to achieve net zero carbon emissions by 2060. The news came after Alba’s CEO Ali Al Baqali unveiled the campaign titled ‘A Journey, Not A Destination’ virtually to all employees, contractors’ workers, and representatives of other GCC aluminium smelters and Gulf Aluminium Council (GAC). During the programme, Al Baqali stated: “As a leading corporate citizen, we believe in producing responsibly and sustainably. Through our ESG Roadmap, we aim to establish a purpose driven culture that is focused on long-term value creation for our stakeholders and the society we...
According to the Shanghai Metals Market, social inventories of primary aluminium in China further dropped across eight major consumption areas, including SHFE warrants, on Monday, June 20. As per the data revealed, inventories totalled 757,000 tonnes, seeing a downfall of 28,000 tonnes over the weekend and a plunge of 68,000 tonnes week-on-week. Compared to the end of May, inventories on Monday recorded a sharp fall of 165,000 tonnes. The decline on Monday was primarily led by Wuxi and Nanhai due to transfer of cargoes to other warehouses and increased downstream purchases after aluminium prices pulled back. The chart below indicates the current status of inventories across China in more details: Among major Chinese provinces, primary aluminium inventories declined the highest in Wuxi by...
LME aluminium opened at US$2,500 per tonne on Monday and closed at US$2,514 per tonne, an increase of US$11.5 per tonne or 0.46 per cent. On Monday, June 20, LME aluminium cash bid price dropped by US$12.5 per tonne or 0.50 per cent, and LME aluminium official settlement price slipped by US$12 per tonne or 0.48 per cent to close at US$2,461 per tonne and US$2,462 per tonne. 3-month bid price and 3-month offer price slumped by US$20 per tonne or 0.8 per cent and US$21 per tonne or 0.83 per cent to come in at US$2,480 per tonne and US$2,481 per tonne. December 23 bid price and December 23 offer price declined by US$14 per tonne or 0.55 per cent to stop at US$2,498 per tonne and US$2,503 per tonne. LME aluminium opening stock halted at 404450 tonnes. Live warrants and Cancelled warrants for...
According to the International Aluminium Institute, world primary aluminium production in May 2022 reported an increase of 3.64 per cent month-on-month to 5.805 million tonnes. In April, the output was at 5.601 million tonnes, down by 2.69 per cent from 5.756 million tonnes a month ago. On a year-on-year basis, world primary aluminium production in May 2022 registered a slight growth of 0.43 per cent from 5.780 million tonnes. In the first five months of the year, world primary aluminium production amounted to 27.972 million tonnes, down by 0.69 per cent from 28.165 million tonnes during the same period last year. China, the world’s largest producer and consumer of aluminium, churned out 3.420 million tonnes of primary aluminium in May, compared to 3.292 million tonnes in April. That was...
According to the data released by the General Administration of Customs on Saturday, June 18, China’s aluminium imports in May 2022 decreased by 16.4 per cent year-on-year. That brought the total imports to 188,469 tonnes of unwrought aluminium and aluminium products – including primary metal & unwrought and alloyed aluminium. So far this year, China’s monthly aluminium imports have been below 200,000 tonnes due to arbitrage window shut for cheaper overseas metal and weak downstream demand for the fresh COVID-induced lockdown. However, on a month-on-month calculation, the imports in May grew by 7.52 per cent or 13,180 tonnes from 175,289 tonnes, showed the General Customs data. On the other hand, China’s unwrought aluminium and aluminium products exports surged by 54 per cent from a year...
According to an industry report by the Australian Industry Energy Transitions Initiative (ETI), supported by some of the largest companies in Australia, it has been revealed that the regional manufacturing organisations, who are the immensely contributing to the economy of the nation can create the possibility to axe down the greenhouse gas emissions by more than 80% and as a turnout, Australia will attract multibillion-dollar investments in renewable energy sources. It is considered one of the most challenging aspects of Australia's endeavour to attain net-zero to cut emissions from the production of aluminium among other like iron, steel, chemicals and liquefied natural gas. However, the report from the Australian Industry Energy Transitions Initiative (ETI), a coalition between heavy...
LME aluminium opened at US$2,518 per tonne last Friday and closed at US$2,503 per tonne, down US$18.5 per tonne or 0.73 per cent. LME aluminium cash bid price stood at US$2473.50 per tonne, with a 1.06 per cent or US$26.50 per tonne slump, according to London Metal Exchange. LME aluminium official settlement price halted at US$2,474 per tonne, experiencing a similar downfall of 1.06 per cent or US$26.50 per tonne on June 17. 3-month bid price saw a 0.95 per cent or US$24 per tonne plunge, resulting in US$2,500. 3-month offer price was demoted by 0.91 per cent or US$23 per tonne to rest at US$2,502 per tonne. December 23 bid price stood at US$2,512 per tonne, dropping 0.24 per cent or US$6 per tonne. December 23 offer price closed at US$2,517 per tonne, moving down by US$6 per tonne or...
Coal India Limited (CIL), an Indian government-owned coal mining and refining corporation, is reportedly striving to decarbonise its operations, following the government’s energy transition push and net zero carbon emission target by 2070. Therefore, CIL is diversifying into aluminium production, solar power generation and coal gasification. The news came on Monday, June 20, after two officials aware of the matter said, while adding that the company is waiting for certain clearances to begin an integrated greenfield aluminium project in Odisha. As per the report, Odisha Chief Minister Naveen Patnaik has also approved the project. Stressing on the energy transition and diversification process, Union coal secretary Anil Kumar Jain recently said: “CIL is diversifying; they are getting into...
A00 aluminium ingot price in China has plunged by RMB 190 per tonne to score at RMB 19,720 per tonne as of Monday, June 20. As per the SMM data, the average prices are expected to range between RMB 19,700 per tonne and RMB 19,740 per tonne, with spot contract to be traded at a premium price of RMB 0 per tonne to RMB 40 per tonne. The A00 aluminium ingot price has witnessed a downfall in all the major regions of China. Starting with Gongyi, the price has nosedived by RMB 280 per tonne to peg at RMB 19,890 per tonne. The price in Foshan and Hangzhou has plummeted by RMB 210 per tonne to close at RMB 19,750 per tonne and RMB 19,760 per tonne. On the same day in Chongqing and Shenyang, the price has slumped by RMB 200 per tonne and RMB 90 per tonne, to halt at RMB 19,820 per tonne and RMB...
The price of aluminium on the London Metal Exchange (LME) dropped dramatically as a result of sluggish economic development, which further reduced the market's demand for the metal. Also, China's interest rate rise had been aided by the second wave of Covid-19 lockdowns. As a result of this, On Monday, June 13, LME aluminium cash bid price and LME aluminium official settlement price opened the week with a major downfall of US$105.5 per tonne or 3.91 per cent, which further went down by US$2 per tonne on Tuesday to settle at US$2,587 per tonne. Apart from this, the news of Bharat Aluminium Company Limited (BALCO), employing biomass briquettes as a fuel mix to increase the sustainability of thermal power generation, has garnered a significant response. Also, the news of Ghana planning to...
On June 17, Hindalco Industries Limited further declined its aluminium ingot and aluminium products prices by INR 7,750 per tonne or 3.30 per cent. That brought the company’s aluminium ingot price to INR 227,000 per tonne from INR 234,750 per tonne on June 14. As per the data revealed by the company, Hindalco’s aluminium ingot price underwent a slash of INR 8,000 per tonne or 3.29 per cent on June 14 to settle at INR 234,750 per tonne from INR 242,750 per tonne on June 11. Hindalco also dropped its aluminium wire rod price by INR 7,750 per tonne from INR 245,850 per tonne on June 14 to INR 238,100 per tonne on June 17. The price on June 14 was reduced by INR 8,000 per tonne from INR 253,850 per tonne on June 11. The price of aluminium billets nosedived by INR 7,750 per tonne as well, with...
National Aluminium Company Limited (NALCO) has again slashed INR 10,300 per tonne like last week from its aluminium ingot and aluminium products prices, marking the third consecutive cut since May 28. With effect from June 16, NALCO’s aluminium ingot price came in at INR 233,650-237150 per tonne versus INR 243,950 – 247,450 per tonne on June 8. NALCO’s aluminium wire rod price has also witnessed a cut of INR 10,300 per tonne, with effect from June 16, to stand at INR 236,150-240,500 per tonne. A week ago, the price hovered around INR 246,450 – 250,800 per tonne. Aluminium billets price stood at INR 237,100-239750 per tonne as of June 16, seeing the same amount of cut from INR 247,400 – 250,050 per tonne last week. NALCO links its aluminium ingot and aluminium products prices to the...
According to the Shanghai Metals Market, primary aluminium inventories in China witnessed a sharp decline of 68,000 tonnes week-on-week. Therefore, as of Thursday, June 16, the inventories totalled 785,000 tonnes, which in comparison with Monday, June 13, dwindled by 40,000 tonnes. Last week, on June 9, primary aluminium inventories fell by 29,000 tonnes from the earlier week across eight major consumption areas, including SHFE warrants, to come in at 853,000 tonnes. This reflects an increased rate of downfall in inventories, attributing to the active transactions amid falling aluminium prices. The chart below indicates the current status of primary aluminium inventories across China in more details: Among eight major Chinese provinces, Wuxi experienced the highest fall on June 16, as...
LME aluminium opened at US$2,619 per tonne on Thursday and closed at US$2,521.5 per tonne, down US$93.5 per tonne or 3.58 per cent. On Thursday, June 16, both LME aluminium cash bid price and LME aluminium official settlement declined by US$79 per tonne or 3.06 per cent and US$79.5 per tonne or 3.08 per cent to settle at US$2,500 per tonne and US$2,500.50 per tonne. 3-month bid price and 3-month offer price plunged by US$70 per tonne or 2.69 per cent and US$69.5 per tonne or 2.67 per cent to close at US$2,524 per tonne and US$2,525 per tonne. December 23 bid price and December 23 offer price also went down by US$62 per tonne to halt at US$2,518 per tonne and US$2,523 per tonne. LME aluminium opening stock stopped at 411575 tonnes. Live warrants and Cancelled warrants recorded at 172000...
Germany is known as the home of Automotive Engineering. Aluminium alloy ingots are extensively used in the sand casting process for making critical components of various Engineering and Automotive Industries. Popular components like Aluminium alloy wheels of cars and the oil sump of auto engines are made using this alloy. The largest manufacturing economy in Europe, Germany imported 4.07 million tonnes of aluminium alloy ingots during 2019-21, incurring a revenue outflow of around $7.01 billion for the import. In 2019, the Western European nation, Germany imported 1.2 million tonnes of aluminium alloy ingot, which counted an expenditure of $1.99 billion, whereas, in 2020, the import witnessed a growth of 7.50%, as the import volume excelled to 1.29 million tonnes, while expenditure sunk...
A00 aluminium ingot price in China has extended its rise for the second day in a row by RMB 90 per tonne to RMB 20,160 per tonne, found the Shanghai Metals Market. The average prices are expected to range between RMB 20,140 per tonne and RMB 20,180 per tonne, with spot contract to be traded at a discount price of 20 and a premium price of RMB 20 per tonne. In Foshan, the primary aluminium ingot price has recorded a maximum hike of RMB 150 per tonne to RMB 20,210 per tonne, followed by the increase of RMB 80 per tonne in Wuxi to RMB 20,170 per tonne. In Hangzhou and Chongqing, A00 aluminium ingot price has escalated by RMB 70 per tonne and RMB 60 per tonne to come in at RMB 20,170 per tonne and RMB 20,220 per tonne, respectively, while the price in Shenyang and Tianjin has expanded by RMB...
LME aluminium opened at US$2,567 per tonne on Wednesday and closed at US$2,615 per tonne, up US$57 per tonne or 2.23 per cent. But LME aluminium cash bid price and LME aluminium official settlement price continued to drop on June 15, marking the fifth consecutive day of downfall. Both the prices experienced a fall of US$8 per tonne to come in at US$2,579 per tonne and US$2,580 per tonne, respectively. 3-month bid price and 3-month offer price stood at US$2,594 per tonne and US$2,594.50 per tonne, down by US$16 per tonne and US$16.50 per tonne, respectively. December 23 bid price and December 23 offer price closed at US$2,580 per tonne and US$2,585 per tonne, seeing a fall of 0.31 per cent from the previous day. LME aluminium opening stock further decreased to 416125 tonnes as of June 15....
