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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This week the global primary aluminium sector witnessed a lot of major happenings. Many new projects and agreements were unlocked. To begin with, Hydro announced its plan to invest NOK 320 million in the Karmøy aluminium smelter. The project will start in the fourth quarter of 2022 and terminate in the fourth quarter of 2024. Apart from this, the Odisha government had cleared a budgetary allocation of INR 428.95 crore for the establishment of a giant aluminium park in Angul. Vedanta Aluminium signed a long-term contract with the National Highways Authority of India (NHAI) for the construction of greener roads in Odisha using fly-ash. Furthermore, the benchmark aluminium price for SHFE opened the week on Monday with a surge of US$3,044 per tonne, which went on to decline the next day to...
After more than a week, National Aluminium Company Limited (NALCO) has revised its aluminium selling prices in accordance with the LME aluminium benchmark price trend. As the LME price has been on an upswing spree, NALCO has decided to expand its aluminium ingot and aluminium products prices. So, with effect from May 19, NALCO has raised its aluminium ingot price by INR 16,200 per tonne or 6.7 per cent to INR 255,850 – 259,350 per tonne versus INR 239,650 – 243,150 per tonne on May 10. NALCO’s aluminium wire rod price has also been sharply increased by INR 16,200 per tonne to INR 258,350 – 262,700 per tonne as of May 19. Aluminium billets price has amounted to INR 259,300 – 261,950 per tonne, seeing a raise of IR 16,200 per tonne too from the previous day. The LME aluminium benchmark...
A00 aluminium ingot price has increased by RMB 260 per tonne to come in at RMB 20,770 per tonne on Friday, May 20, marking the third consecutive day of rise, found the Shanghai Metals Market (SMM). The average prices are estimated to range between RMB 20,750 per tonne and RMB 20,790 per tonne, with spot contracts to be trade at a discount price of RMB 30 per tonne and a premium price of RMB 10 per tonne. A00 aluminium ingot price has risen the highest in Gyongyi by RMB 270 per tonne, settling at RMB 20,780 for the day. Wuxi and Hang Zhou have recorded RMB 260 per tonne hikes resulting in the ingot prices at RMB 20,770 per tonne and RMB 20,820 per tonne, respectively. Primary aluminium ingot price in Foshan has escalated by RMB 240 per tonne to come in at RMB 20,760 per tonne, while the...
World primary aluminium production in the first quarter of 2022 totalled 16.549 million tonnes, registering a quarter-on-quarter downfall of 0.53 per cent from 16.637 million tonnes, found the International Aluminium Institute (IAI). On a year-on-year calculation, the output in Q1 2022 also recorded a decline by about 1.40 per cent from 16.786 million tonnes. The data revealed as IAI published that world primary aluminium production in March 2022 came in at 5.739 million tonnes compared to 5.150 million tonnes in February. That was a month-on-month increase of 11.44 per cent in March, following a decline in the previous month by about 9.01 per cent from 5.660 million tonnes in January. On a year-on-year basis, world primary aluminium output in March 2022 stood 0.70 per cent less than...
LME aluminium opened at US$2,825 per tonne on Thursday and closed at US$2,938 per tonne, an increase of US$113 per tonne or 4 percent. On Thursday, May 19, both LME aluminium cash bid price and LME aluminium official settlement price dropped by US$19 per tonne or 0.66 per cent after experiencing a hike for four consecutive days. The former settled at US$2,825.50 per tonne, and the latter stopped at US$2,826 per tonne. 3-month bid price and 3-month offer price also declined by US$33.5 per tonne or 1.16 per cent and US$35 per tonne or 1.21 per cent to peg at US$2,839.50 per tonne and US$2,840 per tonne. LME aluminium opening stock halted at 511675 tonnes. Live warrants and Cancelled warrants for the same day stopped at 194175 tonnes and 317500 tonnes. LME aluminium 3-month Asian Reference...
Vedanta Limited has continued to expand its aluminium ingot and aluminium products prices as the LME aluminium benchmark price records an interrupted growth. With effect from Wednesday, May 18, Vedanta has raised its aluminium ingot price by INR 4,750 per tonne or 1.9 per cent to INR 253,750 – 289,450 per tonne. On the previous day, May 17, the company’s ingot price ranged between INR 249,000 - 284,700 per tonne, seeing a hike of INR 5,750 per tonne. Vedanta’s aluminium wire rod price has also been grown by INR 4,750 per tonne, with effect from May 18, from INR 256,500 – 264,000 per tonne to INR 261,250 – 268,750 per tonne. Aluminium billet price is no exception but seen a rise by the same amount or 1.84 per cent to become saleable at INR 261,750 per tonne. Vedanta increased its aluminium...
On May 19, Hydro reported that it is planning an investment of NOK 320 million in Karmøy aluminium smelter. The plant's 22 kV switchgear will be replaced as part of this investment. The project will begin in the fourth quarter of 2022 and is expected to be completed by the end of 2024. The project, which is slated to be finished in 2024, will include both internal Hydro resources and foreign suppliers. The investment is contingent on a final construction decision in autumn 2022. Apart from this, the investment also includes modernising and upgrading the power supply system as well as the anode rodding facility, which will help the factory maintain its position as a low-carbon aluminium supplier to the European market. “We are investing in the future of Hydro Karmøy, demonstrating our...
According to the Shanghai Metals Market, social inventories of primary aluminium have decreased by 38,000 tonnes week-on-week across eight major consumption areas in China, including SHFE warrants, to come in at 965,000 tonnes as of Thursday, May 19. Compared to this Monday, May 16, the inventories have declined by 19,000 tonnes, while that in contrast to April-end descended by 22,000 tonnes. Low arrivals of stocks were the main reason for the inventory decline. The chart below indicates the current status of primary aluminium inventories across China in more details: In Wuxi and Gongyi, primary aluminium inventories have plunged by 28,000 tonnes and 20,000 tonnes, respectively, to come in at 441,000 tonnes and 85,000 tonnes, found SMM. Drop in stock arrivals amid normal cargo pick up was...
Hong Leong Investment Bank Bhd (HLIB) has maintained its “buy” rating on Press Metal Aluminium Holdings (PMetal) at RM5.28, with a lower target price of RM7.59 (down from RM7.71). HLIB forecasted a net profit of between RM420 million and RM470 million for Press Metal in 1Q2022, up 47 per cent to 64 per cent quarterly and 104 per cent to 128 per cent year-on-year. “If met, we would deem the results to be within our expectations as we believe that PMetal is on track to more than double its profits y-o-y in FY22 due to: (i) elevated aluminium prices; (ii) full commissioning of its Phase 3 Samalaju expansion; and (iii) further contribution from its 25%-owned PT Bintan alumina refinery,” said HLIB. Aluminium prices will make a reversal in expectation of an increase in aluminium consumption...
Emirates Global Aluminium has announced on Thursday, May 19, that its Al Taweelah site has again bagged the Aluminium Stewardship Initiative’s Performance Standard Certification for sustainable performance. The recertification covers EGA’s port, power generation, carbon plant, potlines, casthouse, and waste management including spent pot lining and dross. The Aluminium Stewardship Initiative acknowledges the efforts of metals and mining companies as well as end-users of aluminium towards the sustainability of the society. The ASI Performance Standard Certification is now a global benchmark for sustainability performance in the industry. Al Taweelah’s first ASI Performance Standard Certification dates back to 2019. The recertification is the first for an aluminium smelter in the Middle...
According to the government data, China’s aluminium import ratio tumbled by 37.7% in April 2022, compared with the first month of Q1 2021. The cause of this plunge is rooted in the aluminium price hike in the global market and the declining domestic consumption rate in China. Imported products, like primary metal, unwrought aluminium and aluminium alloy, amounted to 281,139 tonnes in April 2021, whereas, this year same month imports reduced by 105,850 tonnes. The last month of Q1 2022 had witnessed an 11.1% import hike than the first month of Q2. The Chinese import of bauxite, the primary material for making aluminium, amounted to 11.13 million tonnes in April, indicating a plunge of 4.9% from the recorded units of March. In Q2 2022 April, the total bauxite ore import resulted in 8.74...
Three-month LME aluminium opened at US$2,881 per tonne on Wednesday and closed at US$2,825 per tonne, down US$57 per tonne or 1.98 per cent. On Wednesday, May 18, both LME aluminium cash bid and LME aluminium official settlement price continued to grow for the fourth day in a row but at a slower pace than the previous day. The former increased by US$9.5 per tonne to US$2,844.50 per tonne, while the latter gained US$9 per tonne to US$2,845 per tonne. 3-month bid price and 3-month offer price climbed up by US$17 per tonne or 0.60 per cent on the same day to come in at US$2,873 per tonne and US$2,875 per tonne, respectively. December 23 bid price and December 23 offer price built up by US$5 per tonne to rest at US$2,813 per tonne and US$2,818 per tonne. LME aluminium opening stock continued...
AlCircle is enthralled to announce its 11th publication of e-Magazine titled, “European Aluminium Industry: Focus 2022.” The e-Magazine will feature exclusive views and opinions from the key figures of the European aluminium industry and other stalwarts associated with the regional value chain. The magazine is expected to be launched in June 2022. Let us explore some of the brief points this e-Magazine will touch upon: Fluctuation in the aluminium price on the London Metal Exchange (LME) Sharp rise in energy prices driving the European aluminium production cost Disparity between demand and supply due to production curb in Europe and China and its impact on the downstream segment The geopolitical tension in the region Outlook for 2022 and long-term planning Since the beginning of 2022, the...
LME aluminium opened at US$2,839 per tonne on Tuesday and closed at US$2,882 per tonne, an increase of US$47 per tonne or 1.66 per cent. On May 17, LME aluminium cash bid price and LME aluminium official settlement price both moved upwards by US$45 per tonne or 1.61 percent to settle at US$2,835 per tonne and US$2,836 per tonne. 3-month bid price and 3-month offer price also hiked by US$36 per tonne or 1.27 percent to stop at US$2,856 per tonne and US$2,858 per tonne. December 23 bid price and December 23 offer price escalated by US$33 per tonne or 1.18 percent to record at US$2,808 per tonne and US$2,813 per tonne. LME aluminium opening stock pegged at 527375 tonnes. Live warrants and Cancelled warrants for the same day closed at 230075 tonnes and 297300 tonnes. LME aluminium3-month...
According to a recent report, Vedanta Aluminium has signed a long-term contract with the National Highways Authority of India (NHAI) to construct greener roads with fly-ash in Odisha. The news came on Tuesday, May 17, after Vedanta announced it officially in a statement, "The company has... entered a long-term partnership with the National Highways Authority of India (NHAI) for building greener roads with fly-ash in Odisha." Fly-ash, a by-product of thermal power generation using coal, is primarily used in the cement, construction, and infrastructure industries. The use of fly-ash improves product quality while saving around 700 to 800 kilogramme of carbon emissions and 341 litres of water. In the last fiscal year (FY2022), Vedanta Aluminium has utilised about 2.8 lakh tonnes of fly-ash...
Vedanta Aluminium has scored a hat-trick at Mission Energy Foundation’s 11th Fly Ash Utilization Conference Expo Awards for effective fly-ash management. Vedanta’s Jharsuguda Power Plant in Odisha has won in the category of >=500 MW and =500 MW, while its Chhattisgarh-based affiliate BALCO received an award under the Captive Power Plant classification. Vedanta Aluminium got the first position for its substantial efforts in assuring lucrative usage of fly-ash in circular economy channels out of the 160 organisations that had participated. Fly-ash is a by-product of coal-fired thermal power plants that supply electricity to Vedanta's aluminium smelters and also finds widespread use in the cement, building and infrastructure sectors, where they provide three-fold cost, quality, and...
On May 16, Romanian integrated aluminium company ALRO S.A. released its Interim Condensed Consolidated Financial Statements for the first quarter of 2022 (1Q2022). ALRO, one of the largest aluminium producers in Europe, registered a turnover of RON 1.1 billion in the first quarter of 2022, up 48 per cent from the first quarter of 2021 when it was RON 744 million. The group's turnover has risen due to a surge in aluminium prices on the London Metal Exchange (LME), coupled with an increase in demand for high value-added products, especially in the aerospace sector, combined with an increase in the exchange rate. Having said this, ALRO suffered a net loss of RON 18 million in the 1Q2022, down from RON 62 million in the previous quarter, due to rising utility and raw material prices on the...
Aluminium supplies to Europe to fill the scarcity in the region will further lower the aluminium inventories in LME-approved warehouses over the coming days and weeks from its current 17-year low. Citi analyst Max Layton has analysed and noted that aluminium supply will continue to remain weak in Europe as nearly 1.5 million to 2 million tonnes of output are at the risk of closure over the next three to twelve months. Record high power prices in Europe are continuously lifting the production costs of aluminium, resulting in output curtailments and shutdown. Western Europe accounts for about 10 per cent of global consumption estimated around 70 million tonnes this year. Aluminium shortage in Europe has resulted in large draws on LME aluminium stocks, which have already fallen by 72 per...
