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 Monday, February 13, China’s A00 aluminium ingot price opened the week with a fall of RMB 100 per tonne to halt at RMB 18,470 per tonne, with the average prices standing between RMB 18,450 per tonne and RMB 18,490 per tonne. The spot contract price is expected to be traded at a discount price of RMB 50 to RMB 10 per tonne. On a W-o-W calculation, the A00 aluminium ingot price dropped by RMB 280 per tonne from RMB 18,750 recorded Monday. The A00 aluminium ingot price has decreased in all the major provinces. The highest has been witnessed in Foshan and Chongqing, where the prices dropped by RMB 110 per tonne to close at RMB 18,460 per tonne and RMB 18,490 per tonne. On the same day, the prices in Shenyang, Tianjin and Linyi dipped by RMB 100 per tonne to peg at RMB 18,500 per tonne and...
LME aluminium opened at US$2,504 per tonne last Friday and closed at US$2,455 per tonne, a decrease of US$52 per tonne or 2.07 per cent. The LME aluminium price has been on a constant decline since the beginning of February with the first signs of upward inclination shown last Friday. On February 10, Friday, the LME aluminium cash bid price spiked by US$10 per tonne or 0.41 per cent to close at US$2,434 per tonne and the LME aluminium official settlement price gained US$10.50 per tonne or 0.43 per cent to stop at US$2,435 per tonne. The 3-month bid price remained hung at US$2,465 per tonne, with no notable price loss and the 3-month offer price went down by US$1 per tonne or 0.04 per cent, officially closing at US$2,466 per tonne. December 24 bid price and December 24 offer price have...
On February 10, 2022, the Indian state-owned integrated aluminium company, National Aluminium Company Limited (Nalco), reported a net profit of INR 274 crore in Q3 FY 2022–2023, a rise of 61% from the previous quarter. According to the reviewed financial results for the third quarter of FY 23 that the Board considered on February 11, 2023, in Bhubaneswar, the Navaratna CPSE company recorded a net profit of INR 274 crores, up from INR 170 crores in the previous fiscal quarter. The net sales turnover for the third quarter was INR 3290 crore. Despite a significant increase in overall production, lower alumina sales volume during the quarter, higher input prices, and the volatile and challenging global business environment all impacted profit margins. Sridhar Patra, the CMD of Nalco , said,...
The global primary aluminium sector witnessed some significant events this week. Also, the fact that aluminium is one of the most critical metals can be understood with the proposal of Australian experts suggesting enlisting this silvery-white metal as a crucial mineral. Mike Ferraro, CEO and Managing Director of Alumina Ltd., discussed why the Australian Government should follow in the footsteps of the United States, which included aluminium in its list of 50 critical metals a year ago. Apart from this, the 'Metal of the Future,' Vedanta Aluminum, India's largest aluminium producer and one of the world's top aluminium manufacturers, grandly launched the first edition of the International Aluminium Conference 2023' (IAC 2023) at its operating location in Jharsuguda, Odisha. Under the...
Hindalco Industries Limited has continued reducing the prices of its aluminium ingot and aluminium products, effective from Friday, February 10, for the past week. Today’s deduction marks the third consecutive cut bringing the company’s aluminium ingot price to INR 230,250 per tonne, down by INR 5,000 per tonne or 2.13 per cent from INR 235,250 per tonne on February 7. With the latest cut, Hindalco’s aluminium wire rod price has come in at INR 241,350 per tonne, also down by INR 5,000 per tonne from INR 246,350 per tonne on Tuesday, February 7. After the three continuous cuts for over a week, Hindalco’s aluminium billets price has stopped at INR 244,350 per tonne as of February 10, in contrast with INR 249,350 per tonne on the previous cut. Hindalco links its aluminium ingot and aluminium...
LME aluminium opened at US$2,488 per tonne on Thursday and dropped to a low of US$2,460 per tonne, but then returned to US$2,500 per tonne and finally closed at US$2,507 per tonne, ending a six-day losing streak. On Thursday, February 9, both LME aluminium cash bid price and LME aluminium official settlement price dropped by US$44.5 per tonne or 1.80 per cent to close at US$2,424 per tonne and US$2,424.50 per tonne. The 3-month bid price and 3-month offer price slumped by US$42 per tonne or 1.67 per cent and US$41 per tonne or 1.63 per cent to peg at US$2,465 per tonne and US$2,467 per tonne. December 24 bid price and December 24 offer price slipped by US$40 per tonne or 1.49 per cent to clock at US$2,638 per tonne and US$2,643 per tonne. LME aluminium opening stock settled at 490550...
According to the Shanghai Metals Market data, China’s domestic A00 aluminium ingot price has plummeted for the second day in a row by RMB 310 per tonne to come close to the RMB 18,500 per tonne level. As per the data shown, the price stands at RMB 18,570 per tonne as of Friday, February 10, with average prices estimated to range between RMB 18,550 per tonne and RMB 18,590 per tonne. The spot contract will likely trade at a discount price of RMB 70-30 per tonne. In Gongyi and Foshan, the aluminium ingot price has slumped by RMB 320 per tonne to peg at RMB 18,440 per tonne and RMB 18,570 per tonne, while the price in Wuxi and Hangzhou has plunged by RMB 315 per tonne to stand at RMB 18,560 per tonne and RMB 18,570 per tonne, respectively. In Chongqing and Tianjin, A00 aluminium ingot price...
India’s largest aluminium producer and one of the world’s leading aluminium producers, the ‘Metal of the Future’, Vedanta Aluminum, grandly launched the 1st edition of the International Aluminium Conference 2023’ (IAC 2023) at its operational location in Jharsuguda, Odisha. In collaboration with the Aluminium Association of India (AAI), the apex body representing the entire spectrum of the Indian Aluminium Industry, this 2-day Conference is being held on the 9th and 10th of February 2023, on the theme: Making India the Aluminium Capital of the World. IAC 2023 aims to be one of the world’s leading B2B platforms for collaboration between players in the global Aluminium industry and its various stakeholders, such as downstream processors, end consumers and technology suppliers from across...
On Thursday, February 9, Hindalco Industries Limited, a subsidiary of the Aditya Birla Group, announced the fourth quarter results ended December 31, FY2022-23, reporting a 6 per cent year-on-year rise in revenue to INR 53,151 crore. But on a quarter-on-quarter basis, the revenue stood 5.38 per cent lower than INR 56.176 crore. The total revenue in nine months of the fiscal year FY2023 stood at INR 167,345, up by 20.14 per cent from INR 139,295 crore in the past year. The overall increase in revenue could be attributed to higher sales volume and steady operational performance across India operations. Record total shipments of India primary aluminium was 349,000 tonnes, up 1 per cent from 345,000 tonnes. Hindalco posted an EBITDA of INR 3,930 crore for Q3 FY23, down by 31.57 per cent Q-o-Q...
Vedanta Limited has extended its aluminium ingot and products price cut with effect from Tuesday, February 7. The company has reduced its aluminium ingot price by INR 6,250 per tonne or 2.58 per cent to INR 236,250-266,750 per tonne versus INR 242,500-273,000 per tonne on February 3. Vedanta’s aluminium wire rod has also seen a cut of INR 6,250 per tonne, with effect from February 7, to stand at INR 243,750-251,250 per tonne compared to INR 250,000-257,500 per tonne as of February 3 . Aluminium billet price has also experienced a cut by the same amount to come in at INR 245,250 per tonne, in contrast with INR 251,500 per tonne last week. Vedanta links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which continued to...
According to the Shanghai Metals Market data, China’s domestic aluminium production in January 2023 (31 calendar days) recorded a marginal drop of 0.6 per cent month-on-month to 3.42 million tonnes. In December 2022 (31 calendar days), the domestic output had grown by 3 per cent M-o-M from 3.34 million tonnes to 3.44 million tonnes. On a year-on-year calculation, China’s January aluminium output edged a 6.7 per cent hike from 3.204 million tonnes. China’s daily output of aluminium also registered a decline month-on-month in January 2023 from 110,900 tonnes to 110,300 tonnes. The drop in China’s monthly aluminium production could be attributed to a lower operating rate of about 310,000 tonnes from the end of December and 760,000 tonnes from November after three rounds of power curtailment....
Following growth a day before, the A00 aluminium ingot price has dropped by RMB 180 per tonne to settle at RMB 18,880 per tonne, with the spot contract price expected to be traded at a discount price of RMB 70 to RMB 30 per tonne. The average price is expected to range between RMB 18,860 per tonne and RMB 18,900 per tonne. As per the data, the A00 aluminium ingot price has experienced a fall in almost all the major provinces. The prices in Foshan, Wuxi, Hangzhou and Chongqing have slipped by RMB 180 per tonne to peg at RMB 18,890 per tonne, RMB 18,875 per tonne, RMB 18,885 per tonne and RMB 18,880 per tonne. The A00 aluminium ingot price in Gongyi and Shenyang has dropped by RMB 160 per tonne to reside at RMB 18,760 per tonne and RMB 18,850 per tonne. The prices in Tianjin and Linyi have...
LME aluminium opened at US$2,535 per tonne on Wednesday and fell to US$2,471 per tonne before closing at US$2,487 per tonne, down 1.87 per cent. On February 8, Wednesday, the LME aluminium cash bid price and the LME aluminium official settlement price dropped by US$3.50 per tonne or 0.14 per cent to stop at US$2,468.50 per tonne and US$2,469 per tonne. The first week of February has witnessed gradually declining aluminium prices. The 3-month bid price and the 3-month offer price went down by US$6 per tonne or 0.24 per cent, officially closing at US$2,507 per tonne and US$2,508 per tonne. December 24 bid price and December 24 offer price have halted at US$2,678 per tonne and US$2,683 per tonne on Wednesday, with a similar price fall of US$7 per tonne or 0.26 per cent. LME aluminium opening...
According to the International Aluminium Institute, primary aluminium production in Russia and Eastern Europe amounted to 343,000 tonnes during December 2022, registering a monthly hike of 10,000 tonnes or 3 per cent from 333,000 tonnes but a yearly decline of 8,000 tonnes or 2.3 per cent from 351,000 tonnes. The year-on-year downfall of primary aluminium output in Russia and Eastern Europe could be attributed to the energy crunch resulting in operation cuts across many smelters. The total production of primary aluminium in Russia and Eastern Europe during the fourth quarter of 2022 ended December 31, stood at 1.02 million tonnes, down by 1.16 per cent Q-o-Q from 1.032 million tonnes despite the increase in monthly output in December. On a year-on-year basis, the output in 4Q2022 also...
National Aluminium Company Limited (NALCO) has slashed its aluminium ingot and aluminium products prices after four successive hikes in response to the LME aluminium price plunge during February 1-7, 2023. With effect from February 7, NALCO has curtailed its aluminium ingot price by INR 7,800 per tonne or 3.20 per cent to INR 236,150-239,650 per tonne. A week ago, the company’s aluminium ingot price stood at INR 243,950-247,450 per tonne. NALCO’s aluminium wire rod price has also been cut by INR 7,800 per tonne, with effect from February 7. The price now ranges between INR 240,650-245,000 per tonne versus INR 248,450-252,800 per tonne as of February 1 . NALCO’s aluminium billets price is also reduced by the same amount to be sold at INR 240,600-243,250 per tonne, with effect from February...
LME aluminium opened at US$2,547 per tonne on Tuesday and dropped to US$2,505 per tonne before closing at US$2,534 per tonne, down 0.37 per cent. On Tuesday, February 7, both LME aluminium cash bid price and LME aluminium official settlement price slipped by US$14 per tonne or 0.56 per cent to close at US$2,472 per tonne and US$2,472.50 per tonne. 3-month bid price and 3-month offer price dipped by US$12 per tonne or 0.47 per cent and US$13 per tonne or 0.51 per cent to reside at US$2,513 per tonne and US$2,514 per tonne. December 24 bid price and December 24 offer price descended by US$13 per tonne or 0.48 per cent to score at US$2,685 per tonne and US$2,690 per tonne. LME aluminium opening stock scored at 390200 tonnes. Live warrants and Cancelled warrants came in at 221575 tonnes and...
A00 aluminium ingot price has seen RMB 60 per tonne rise, halting at RMB 19,060 per tonne, as the Shanghai Metals Market recorded on February 8. The average prices are expected to range between RMB 19,040 per tonne and RMB 19,080 per tonne, with spot contracts trading at discount prices of RMB 80 per tonne and RMB 40 per tonne. The provinces in China all have witnessed escalating prices today, with aluminium prices ascending at a uniform format of RMB 60 per tonne in Foshan, Wuxi, Hangzhou and Chongqing, officially closing at RMB 19,070 per tonne, RMB 19,055 per tonne, RMB 19,065 per tonne and RMB 19,060 per tonne. Other than that, the prices of aluminium in Gongyi, Tianjin and Linyi have increased by RMB 50 per tonne to stop at RMB 18,920 per tonne, RMB 19,030 per tonne and RMB 19,020...
Oracle Power PLC, a successful producer of green hydrogen, has agreed upon a Memorandum of Understanding through its Joint Venture Oracle Energy Limited for supplying 50,000 tonnes of green hydrogen to Emirates Global Aluminium PJSC (EGA). This MoU between EGA and Oracle Energy will ensure the projected supply of almost 50,000 tonnes of green hydrogen channelled from its patented Green Hydrogen Unit in southeast Pakistan. Oracle Energy and EGA have embarked on a non-binding mission to explore the potential of the energy company in supplying ample green hydrogen, inducing a majority share of the estimated annual output of the Middle Eastern aluminium giant. If the companies can draw perfect negotiations, it has been noted that a probable binding agreement would be signed during the 2023 UN...
