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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On Friday, June 10, the average alumina spot price in China stopped at RMB 2,964 per tonne, declining by RMB 8 per tonne, as the SMM data shows. The alumina price in Henan has dropped by RMB 15 per tonne to halt at RMB 3,035 per tonne. Alumina's price in Guizhou has marked RMB 5 per tonne fall, resulting in RMB 2,950 per tonne. Lastly, the alumina price in Shanxi has stooped down RMB 10 per tonne to close at RMB 2,880 per tonne. A00 aluminium price in China has plunged by RMB 280 per tonne on Friday, June 10, to close the week lower at RMB 20,500 per tonne, as the Shanghai Metals Market data read. The average aluminium prices are expected to range between RMB 20,480 per tonne and RMB 20,520 per tonne, while spot contracts trading at a discount price of RMB 90 per tonne and RMB 50 per...
LME aluminium opened at US$2,836 per tonne on Thursday, June 9, and closed at US$2,760 per tonne, down by US$76 per tonne or 2.68 per cent. LME aluminium cash bid price and LME aluminium official settlement price decreased on an alternate day, June 9, by US$13 per tonne or 0.47 per cent to stand at US$2,752 per tonne and US$2,752.50 per tonne, following a hike of 1.9 per cent on the previous day. 3-month bid price and 3-month offer price dropped by US$12 per tonne to settle at US$2,785 per tonne and US$2,786 per tonne. December 23 bid price and December 23 offer price halted at US$2,727 per tonne and US$2,732 per tonne, respectively, both down by US$28 per tonne. LME aluminium opening stock continued to decline by 3,950 tonnes to stop at 430050 tonnes. Live warrants and Cancelled warrants...
Sustainability lies at the heart of the Brazilian aluminium sector, serving as a motivator for decision-making and project implementation. From mining to recycling, ABAL promotes enterprises along the value chain. Companies in the Brazilian aluminium value chain have now obtained ASI certification at every level of the process, including bauxite mining, alumina production, and primary aluminium manufacturing. Companies in the primary metal processing and recycling sectors have also been certified. The primary goal of ABAL's membership in ASI was to encourage its affiliates to get ASI certification, which is well-known in the aluminium consumer market. ASI is more than just a certification; it supports and promotes the most sustainable practices. It's becoming even more important since it...
LME aluminium opened at US$2,788 per tonne on Wednesday and closed at US$2,836 per tonne, up US$49.5 per tonne or 1.78 per cent. LME aluminium cash bid price expanded by US$51 per tonne or 1.87 per cent to score at US$2,765 per tonne. LME aluminium official settlement price also witnessed growth by US$50.5 per tonne or 1.86 per cent to settle at US$2,765.50 per tonne as of June 8. 3-month bid price and 3-month offer price soared up by US$52.5 per tonne or 1.91 per cent and US$53 per tonne or 1.93 per cent to close at US$2,797 per tonne and US$2,798 per tonne. December 23 bid price and December 23 offer price for the same day halted at US$2,755 per tonne and US$2,760 per tonne, after dropping by US$47 per tonne or 1.73 per cent. LME aluminium opening stock stopped at 434000 tonnes. Live...
National Aluminium Company Limited has continued to reduce its aluminium ingot and aluminium products prices, with effect from Wednesday, June 8, following the previous cut on May 28. As per the revised prices revealed by NALCO, the company has deducted INR 10,300 per tonne from its previous aluminium ingot price, bringing it to INR 243,950 – 247,450 per tonne versus INR 254,250 – 257,750 per tonne. NALCO’s aluminium wire rod price has come in at INR 246,450 – 250,800 per tonne today, June 8, also reduced by INR 10,300 per tonne from INR 256,750 – 261,100 per tonne on May 28. NALCO’s aluminium billets price has been raised by the same amount to INR 247,400 – 250,050 per tonne, from INR 257,700 – 260,350 per tonne. NALCO has further reduced its aluminium ingot and aluminium products prices...
According to the US Census Bureau data, the United States’ domestic primary aluminium production in March 2022 recorded an increase of 9,000 tonnes or 12 per cent month-on-month to stand at 84,000 tonnes. However, in February, the output stood 8.54 per cent lower at 75,000 tonnes compared to 82,000 tonnes in January. On a year-on-year basis, primary aluminium production in the US during March 2022 also registered a hike of 9,000 tonnes, showed the USGS data. The United States’ total production of primary aluminium in the first quarter of 2022 amounted to 241,000 tonnes, up by 4.78 per cent or 11,000 tonne from 230,000 tonnes in Q4 2021. The average daily production in March 2022 was 2,730 tonnes, slightly higher than 2,670 tonnes in February and 320 tonnes more than 2,410 tonnes in March...
LME aluminium opened at US$2,787.5 per tonne on Tuesday and closed at US$2,786.5 per tonne, down US$2.5 per tonne or 0.09 per cent. On Tuesday, June 7, both LME aluminium cash bid price and LME aluminium official settlement price declined by US$27 per tonne or 0.98 per cent to close at US$2,714 per tonne and US$2,715 per tonne. On the same day, 3-month bid price and 3-month offer price also witnessed a plunge by US$27.5 per tonne or 0.99 per cent and US$29 per tonne or 1.04 per cent to record at US$2,744.50 per tonne and US$2,745 per tonne. December 23 bid price and December 23 offer price went down by US$24 per tonne or 0.87 per cent to come in at US$2,708 per tonne and US$2,713 per tonne. LME aluminium opening stock closed at 441725 tonnes. Live warrants and Cancelled warrants halted at...
The incident in Guangdong's southern region, where many traders claimed that they were misled into extending a credit against fictitious quantities of aluminium, has stirred China’s metals market. As per the report, more than RMB 500 million ($75 million) may have been duped, secured by metal stocks kept in a warehouse in Foshan that proved out to be worth substantially less. The numbers mentioned are insignificant, especially in the context of China's aluminium market. Last year, China produced almost $100 billion in lightweight metal, which was used in everything from window frames to automotive parts. This incident is similar to the Qingdao scandal that had rocked China’s metal market eight years ago. Whether it's wheat, copper, or oil, commodity trading is often a high-volume,...
To offer a consolidated package of industrial insights into the global aluminium value chain, AlCircle has handpicked some of its exclusive reports to present them in a cluster, much suited for you. Options are plenty as you can pick a single report or choose an assortment of two or three. Not to forget, all are offered at special prices and for limited period. If you are yet to know how this year is going to unfurled for the aluminium industry, then our Global Aluminium Industry Outlook 2022 report is available only for US$499. If you wish to brush up your knowledge on dross processing while learning the industry outlook, then feel free to add our twin pack Outlook 2022+Dross Processing to your cart, priced at US$899. To add detailed learning on recycling, then a special triplet offer is...
LME aluminium opened at US$2,758 per tonne on Monday and closed at US$2,789 per tonne, up US$65 per tonne or 2.39 per cent. Both LME aluminium cash bid price and LME aluminium official settlement price resumed the market after the Bank Holiday with a sharp rise of US$40 per tonne and US$40.50 per tonne, respectively, to stand at US$2,741 per tonne and US$2,742 per tonne as of Monday, June 6. 3-month bid price and 3-month offer price also recorded a hike of US$44 per tonne to come in at US$2,772 per tonne and US$2,774 per tonne, respectively. December 23 bid price and December 23 offer price totalled US$2,732 per tonne and US$2,737 per tonne, up by US$22 per tonne or 0.81 per cent from the previous day. LME aluminium opening stock dwindled by 3,375 tonnes to settle at 450,500 tonnes. Live...
Social inventories of primary aluminium in China have continued to decline by 8,000 tonnes over the weekend ended Monday, June 6, across eight major consumption areas, including SHFE warrants. According to the Shanghai Metals Market, the further decline in inventories has brought the total volume to 874,000 tonnes. The weekly shipment out of warehouses rose to 188,000 tonnes, a new high this year, leading to the drop in inventories. The chart below indicates the current status of primary aluminium inventories across China in more details: On June 6, decline in primary aluminium inventories has been led by Wuxi, wherein stocks have decreased by 19,000 tonnes over the weekend to amount to 358,000 tonnes. In Shanghai, inventories have declined by 10,000 tonnes to come in at 44,000 tonnes....
Commemorating the World Environment Day on June 5, 2022, Vedanta Aluminium, India’s leading aluminium producer, said business growth and sustainable development go hand-in-hand. On the same occasion, Rahul Sharma, CEO of Vedanta Aluminium, said certain initiatives of the company related to climate led to a decrease in carbon emissions intensity at many of their smelters by about 12 per cent in FY2022. "Our climate action endeavours saw us reduce our GHG emissions intensity at our largest aluminium smelter by around 12 per cent in FY22 over the previous fiscal, while increasing our production volumes by 20 per cent," said Mr Sharma. He also said Vedanta was the first company in India to launch low carbon ‘green’ aluminium Restora, and in the process, became the nation’s largest consumer of...
Following a complaint from the Indian aluminium industry, the commerce ministry's investigative arm, Directorate General of Trade Remedies (DGTR), undertook an examination into suspected export subsidies by Malaysia on 'aluminium primary foundry alloy ingot in various forms' and recommended enforcement of the tax on January 31 this year. After evaluating the final conclusions of DGTR, the central government has chosen not to accept its recommendations, said a Department of Revenue office memorandum. Domestic enterprises claimed in an application to the directorate that subsidised imports from Malaysia are causing them significant harm and demanded the introduction of countervailing tariffs on the imports. While the DGTR proposes the duty, it is up to the finance minister to decide whether...
On Monday, June 6, the benchmark aluminium price for SHFE has soared up by US$96 per tonne or 3.14 per cent to settle at US$3,147 per tonne. The market was closed due to the Dragon Boat Festival on Friday, June 3. The most-traded SHFE 2207 aluminium closed up 1.7 per cent or RMB 345 per tonne to RMB 20,665 per tonne, with open interest down 13,330 lots to 173,373 lots. LME aluminium price The LME market was also closed due to Bank Holiday in the UK on Thursday and Friday, respectively and will resume on Monday, June 6. However, both LME aluminium cash bid price and LME aluminium official settlement price had declined by US$115 per tonne or 4.08 per cent to close at US$2,701 per tonne and US$2,701.50 per tonne on Wednesday, June 1. 3-month bid price and 3-month offer price also dropped by...
The only body representing the global primary aluminium industry, International Aluminium Institute (IAI), has publicised the appointment of Satish Pai as its new Chairman. Satish Pai is the Managing Director of Hindalco Industries, one of the world’s largest integrated aluminium producers. Previously he was serving as the Vice-Chairman and he succeeds Ben Kahrs, Alcoa Corp’s Chief Innovation Officer. The Secretary-General of IAI, Miles Prosser said “Satish is an exceptional leader who is as familiar with boots-on-ground issues as he is with geo-economic perspectives. He is well able to convert industry challenges into opportunities – strategic R&D led to Hindalco becoming the first aluminium company to achieve 100% utilisation of bauxite residue in three of the refineries.” “We welcome...
According to our report from Europe, the Spain-based works council of Alcoa Corp’s San Ciprian aluminium smelter is pressing the government body to lessen the duration of the permission procedure for new wind energy projects that generate the fodder for the power-consuming facilities. After years of toiling with high electricity bills, prevailing labour disputes and profit losses, Alcoa is now taking time to renovate its plant and get hold of more effective power purchase agreements (PPAs). Its San Ciprian smelter in the Galicia region, northwest Spain will remain downsized until January 2024 to give Alcoa some to restructure its courses. The quest for renewable energy PPAs had begun in late December 2021; right after the US aluminium producer signed a new labour agreement to retrench the...
Founded in 2006, Tamkeen, a semi-autonomous government agency in Bahrain, has collaborated with the Economic Development Board (EDB) to promote direct investment opportunities in the industrial sector. A treaty has been signed between Tamkeen Chief Executive, Husain Rajab and the Group Chief Executive of Aleastur, Sergio Martinez, with approval from other officials. Also, to secure its activities, Tamkeen has agreed upon a venture with Aleastur, a company that has just begun the GCC’s first aluminium grain refinery in Bahrain. This amalgamation points to positioning Bahrain as a healthy global hub for technologically advanced and sustainable industries concerning high-probability units like manufacturing and aluminium. The government’s economic recovery plan circulates across a few key...
The main attraction for this week’s global primary aluminium segment was RUSAL’s sustainability report. RUSAL, one of the world's largest aluminium manufacturers, released its 2021 annual sustainability report with special attention on ‘Human Focus.’ The report highlights RUSAL’s commitment towards greener aluminium and how the company is taking steps to achieve the same. Apart from this, Aluminium Bahrain (Alba), the Middle East's first aluminium smelter, opened a sales office in Singapore on May 27, 2022, as part of its endeavour to expand its footprint in the Asian-Pacific region. On Monday, LME aluminium official settlement price opened the week with a hike of US$40 per tonne to settle at US$2,863 per tonne, which went on to decline the next day by US$46.50 per tonne to close at...
