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...
Grow with
AL Circle
Hellenic Cables S.A., one of Europe's major cable makers with a significant presence in renewable energy transmission and distribution, received low-carbon EcoLum™ aluminium from Alcoa Corporation. The EcoLum brand is part of Alcoa's Sustana™ family of low-carbon goods and has a carbon footprint of around 3.5 times lower than the industry average. The announcement was made public on June 6. The initiative was carried out to help the firm achieve its aim of a sustainable energy future. Hellenic Cables runs five production units in three countries and is a producer of power, communications, submarine cables and compounds. “We are very proud to partner with Hellenic Cables and assist them in their stated mission to develop a sustainable energy future. We know that aluminum is a key material...
According to the Shanghai Metals Market, China’s social inventories of primary aluminium extended decline on Thursday, June 2, across eight major consumption areas, including SHFE warrants. As per the data found, the inventories fell sharply by 55,000 tonnes over the week and 151,000 tonnes from the beginning of May to come in at 882,000 tonnes. The plunge in primary aluminium inventories could be attributed to the rush to pick up cargoes from warehouses. Buying enthusiasm was noticeable due to widening spot discounts in east China, whereas arrivals of stocks sent inventories in Gongyi lower. The chart below indicates the current status of primary aluminium inventories across China in more details: In Wuxi, primary aluminium inventories plummeted by 38,000 tonnes to stand at 377,000...
National Aluminium Company Limited reduced its aluminium ingot and aluminium products prices, with effect from Saturday, May 28, following two hikes on May 19 and May 25. Since the last cut, NALCO’s aluminium ingot price has come in at INR 254,250 – 257,750 per tonne, down by INR 4,800 per tonne or 1.85 per cent from INR 259,050 – 262,550 per tonne on May 25. NALCO’s aluminium billets price also saw a plunge of INR 4,800 per tonne from INR 262,500 – 265,150 on May 25 to INR 257,700 – 260,350 per tonne on May 28. NALCO also axed its aluminium wire rod price by the same amount to sell the product at INR 256,750 – 261,100 per tonne, with effect from May 28. NALCO reduced its aluminium ingot and aluminium products on May 28 in response to the LME aluminium price slump by US$58 per tonne from...
The independent commodity analyst CRU has published a new report for the European aluminium industry pointing out negative impacts of a wrongly designed Carbon Border Adjustment Measure (CBAM). According to CRU, if CBAM covers indirect emissions and removes existing carbon leakage measures, European aluminium smelters will become cost uncompetitive. The study contains the complexities of CBAM regulation and forecasts the aluminium production cost to rise by 24 to 31 per cent. The report has strategically noted the impact of CBAM on primary aluminium and selected downstream products under individual scenarios. Given the unique challenges aluminium industry faces for being an energy-intensive production process, CRU report suggests an initial trial of CBAM on direct-emissions, as originally...
In partnership with GEAR India (Gemini Equipment and Rentals Private Limited), Vedanta Aluminium, one of the largest producers of aluminium in India, stated that it has put in place India’s largest electric fleet of 27 forklifts at its Jharsuguda aluminium smelter in Odisha, which is the world's largest single-location aluminium smelter, ex-China. The forklifts were sent last month and are now operational. These forklifts are powered by lithium-ion batteries. Not only this, the company is also recruiting and training women to operate these top-of-the-line forklifts, as part of its efforts to increase gender diversity in key industrial activities. The step has been taken in line with the Vedanta’s aim to decarbonise its industrial vehicle fleet. Furthermore, these electric forklifts comes...
A00 aluminium ingot price in China has gained RMB 350 per tonne, following a sharp decline of RMB 570 per tonne on the previous day. According to the Shanghai Metals Market data, the price has come in at RMB 20,540 per tonne as of June 2, with average prices estimated to range between RMB 20,520 per tonne and RMB 20,560 per tonne. The spot contract is likely to be traded at a discount price of RMB 50-10 per tonne. Gongyi has seen the highest hike of RMB 450 per tonne to stand at RMB 20,720 per tonne, followed by the increase of RMB 350 per tonne in Linyi to RMB 20,690 per tonne. In Foshan and Wuxi, the primary aluminium ingot price has built up by RMB 340 per tonne to settle at RMB 20,500 per tonne and RMB 20,510 per tonne, while the price in Shenyang and Tianjin has expanded by RMB 330...
LME aluminium opened at US$2,792.5 per tonne on Wednesday and closed at US$2,724 per tonne, down US$65 per tonne or 2.23 percent. On Wednesday, June 1, both LME aluminium cash bid price and LME aluminium official settlement price plummeted by US$115 per tonne or 4.08 percent to close at US$2,701 per tonne and US$2,701.50 per tonne. 3-month bid price and 3-month offer price also dropped by US$120 per tonne to settle at US$2,728 per tonne and US$2,730 per tonne. December 23 bid price and December 23 offer price slumped by US$95 per tonne or 3.38 percent to score at US$2,710 per tonne and US$2,715 per tonne. For the same day, LME aluminium opening stock halted at 453875 tonnes. Live warrants and Cancelled warrants stopped at 189325 tonnes and 264550 tonnes. LME aluminium 3-month Asian...
RUSAL, one of the leading global aluminium producers, has published its annual sustainability report for 2021. The subject title of the report is "Human focus.” RUSAL has been identifying goals for further ESG business transformation over the last year after the announcement of a strategy to achieve carbon neutrality by 2050 (Net Zero) in February 2021. The Company's strategy aim is to create a new asset class in the aluminium industry, assets that will satisfy the demands of the future low-carbon economy. RUSAL devotes special attention to safeguarding its human capital in the post-pandemic period, guaranteeing safe working conditions and professional growth, appropriate payment for employees, and their quality of life in the regions where the Company's companies operate. For example, in...
On 1 st June 2022, the globally renowned diversified mining and metals company, South32 Limited announced that it has completed the acquisition of an additional 16.6% shareholding and related rights in Maputo, Mozambique based Mozal Aluminium from MCA Metals Holding GmbH (Mitsubishi). The final cash consideration of US$2002 million illustrates elevated cash and working capital adjustments at the acquisition date as the business pursues to benefit from strong aluminium prices. Following accomplishment, South32’s stakeholding in Mozal Aluminium will augment to 63.7%, with its equity share of aluminium production now anticipated to be 281kt for FY22e and 370kt for FY23e. Graham Kerr, the CEO of South32 said: "Our acquisition of an additional interest in Mozal Aluminium is another major...
Vedanta Limited expanded its aluminium ingot and aluminium products prices, with effect from Tuesday, May 31, following a cut last week on May 26. The company heightened its aluminium ingot price by INR 2,750 per tonne or 1 per cent to the range of INR 255,500 – 291,200 per tonne versus INR 252,750- 288,450 per tonne on May 26. Vedanta’s aluminium billets price came in at INR 263,500 per tonne, 260750 on May 31, experiencing an increase of INR 2,750 per tonne from INR 260,750 per tonne. Aluminium wire rod price also witnessed a rise by the same amount to stand at INR 263,000 – 270,500 per tonne. Vedanta Limited links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which during May 26-30 trended up by US$37.50 per...
LME aluminium opened at US$2,885 per tonne on Tuesday and closed at US$2,789 per tonne, experiencing a sharp downfall of $91 per tonne or 3.16 per cent. On Tuesday, May 31, LME aluminium cash bid price witnessed a plunge of US$46 per tonne, while LME aluminium official settlement price slumped by US$46.50 per tonne. That brought the prices to US$2,816 per tonne and US$2,816.50 per tonne, respectively, for the day. 3-month bid price and 3-month offer price also saw a considerable downfall of US$42 per tonne and US$41 per tonne to come in at US$2,848 per tonne and US$2,850 per tonne. December 23 bid price and December 23 offer price experienced a fall of US$40 per tonne to US$2,805 per tonne and US$2,810 per tonne, respectively. LME aluminium opening stock further declined to 458875 tonnes...
LME aluminium opened at US$2,885 per tonne on Monday and closed at US$2,880 per tonne, an increase of US$11.5 per tonne or 0.4 per cent. On Monday, May 30, LME aluminium cash bid price and LME aluminium official settlement price settled at US$2,862 per tonne and US$2,863 per tonne, after witnessing a hike of US$39.5 per tonne or 1.39 per cent and US$40 per tonne or 1.41 per cent. 3-month bid price and 3-month offer price went on to ascend by US$45 per tonne or 1.58 per cent and US$44 per tonne or 1.54 per cent to peg at US$2,890 per tonne and US$2,891 per tonne. As per the LME price sheet, December 23 bid price and December 23 offer price, both of them experienced a growth of US$40 per tonne or 1.42 per cent to halt at US$2,845 per tonne and US$2,850 per tonne. LME aluminium Opening stock...
LME aluminium opened at US$2,867 per tonne last Friday and closed at US$2,868.5 per tonne, an increase of US$2.5 per tonne or 0.09 per cent. LME aluminium cash bid price and LME aluminium official settlement price settled at US$2,822.50 per tonne and US$2,823 per tonne, respectively, both experiencing a decrease of US$2.5 per tonne or 0.08 per cent, as of May 27, Friday. 3-month bid price and 3-month offer price for the same day declined by US$11 per tonne or 0.38 per cent, and US$10 per tonne or 0.35 per cent to score at US$2,845 per tonne and US$2,847 per tonne, respectively. December 23 bid price and December 23 offer price shrank by US$8 per tonne or 0.28 per cent to stop at US$2,805 per tonne and US$2,810 per tonne. LME aluminium opening stock dropped by 4575 tonnes or 0.96 per cent...
On 27 th May 2022, the first aluminium smelter in the Middle East, Aluminium Bahrain (Alba), as a part of the effort to increase its presence in the Asian-Pacific market, opened a sales office in Singapore. An official inauguration took place for the new sales office and was done by the Chairman of Alba’s Board of Directors, Shaikh Daij bin Salman bin Daij Al Khalifa, during a ceremony that was held in the presence of Alba’s Chief Executive Officer, Ali Al Baqali, as well as its Chief Marketing Officer, Khalid A. Latif, and Director Marketing MEA – Asia, Hisham Al Kooheji as well as VAP Marketing Manager Shoji Takeuchi who looks after the operations of the Singaporean office. Shaikh Daij bin Salman bin Daij Al Khalifa, while speaking at this event said, “Our expansion into Singapore marks...
The aluminium industry is slowly taking its step toward a greener and more sustainable environment. For example, to minimize greenhouse gas emissions, GE Power had signed a contract to upgrade Emirates Global Aluminium’s (EGA) Al Taweelah power plant gas turbines. This idea will assist the UAE to achieve its intended Net-Zero strategic objectives by 2050 by limiting the severity of greenhouse gas emissions. Not only this, EGA had also hosted a meeting with the global aluminium industry executives to explore how to decarbonize electrical generation and achieve net-zero emissions by 2050. Under the market forefront, on Monday, May 23, the benchmark aluminium price for SHFE increased by US$39 per tonne to US$3,129 per tonne, and then dropped by US$9 per tonne the next day to US$3,120 per...
The LME aluminium benchmark price has showcased a downswing this week after a prolonged period of hikes. Although both the LME aluminium cash bid price and LME aluminium official settlement price started the week on Monday, May 23, with a jump of US$32 per tonne to US$2,962 per tonne and US$2,963 per tonne, the prices began to decrease from the next day US$81.50 per tonne and US$82 per tonne, respectively, to come in at US$2,880.50 per tonne and US$2,881 per tonne. On Wednesday, May 25, both LME aluminium cash bid price and LME aluminium official settlement price extended decline to US$2,829 per tonne and US$2,829.50 per tonne and moved further down to US$2,825 per tonne and US$2,825.50 per tonne on Thursday, May 26. On Friday, May 27, both the LME prices slipped to US$2,822.50 per tonne...
LME aluminium opened at US$2,875 per tonne on Thursday and closed at US$2,866 per tonne, down US$2 per tonne or 0.07 percent. On Thursday, May 26, both LME aluminium cash bid price and LME aluminium official settlement price moved down for the third day to settle at US$2,825 per tonne and US$2,825.50 per tonne, after witnessing a drop of US$4 per tonne or 0.14 percent. 3-month bid price and 3-month offer price also went down by US$1.5 per tonne or 0.05 percent and US$1 per tonne or 0.03 percent to score at US$2,856 per tonne and US$2,857 per tonne. December 23 bid price and December 23 offer price declined by US$9 per tonne or 0.31 percent to total at US$2,813 per tonne and US$2,818 per tonne. For the same day, LME aluminium opening stock halted at 475650 tonnes. Live warrants and...
National Aluminium Company Limited (NALCO) further increased its aluminium ingot and aluminium products prices, although at a much slower rate than the previous time, in tandem with the growth in the LME aluminium benchmark price during May 19-24. With effect from Wednesday, May 25, NALCO raised its aluminium ingot price by INR 3,200 per tonne to INR 259,050 – 262,550 per tonne, as against INR 255,850 – 259,350 per tonne on May 19. NALCO’s aluminium billets price also saw an increase of INR 3,200 per tonne to INR 262,500 – 265,150 per tonne on May 25 from INR 259,300 – 261,950 per tonne on May 19. With the latest rise, the company’s aluminium wire rod price has been ranging between INR 261,550 – 265,900 per tonne in contrast to INR 258,350 – 262,700 per tonne. During May 19-24, the LME...
