London Metal Exchange (LME) aluminium prices rebounded on September 16, with cash and forward contracts moving higher from the previous session. Warehouse stocks edged down, while the Asian reference price and alumina Platts price also increased. The LME aluminium cash bid and offer price rose 1.53 per cent. The cash bid rose to USD 3,309.50 per tonne from USD 3,260 per tonne , while the cash offer rose to USD 3,310 per tonne from USD 3,260 per tonne. The three-month aluminium bid price climbed 1.64 per cent to USD 3,288 per tonne from USD 3,235 per tonne. The offer price also rose 1.64 per cent to USD 3,289 per tonne from USD 3,236 per tonne. The Dec-27 bid and offer prices both rose 1.55 per cent from the previous session, with the bid increasing to USD 3,202 per tonne from USD 3,153...
The Aluminium Federation (ALFED) has launched a new Reindustrialising UK Aluminium briefing, developed through its Trade Committee, setting out the immediate trade and industrial priorities facing the UK aluminium sector. The briefing comes as aluminium takes on increasing strategic importance within UK Government policy. Aluminium is recognised within the UK’s Critical Minerals framework and as a Growth Mineral, reflecting its importance to future UK manufacturing and economic growth. Government’s Critical Minerals Strategy describes critical minerals as foundational inputs to the Industrial Strategy’s growth-driving sectors. ALFED’s latest economic modelling estimates that the UK aluminium industry supports a wider economic footprint of £8.18 billion (USD 11.03 billion) in GVA and...
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On Monday, January 16, Aluminium Bahrain B.S.C. (Alba) held a programme to commission the Forced Cooling Network (FCN) Project at Potlines 4 and 5. The occasion was attended by Alba's Chairman Shaikh Daij bin Salman bin Daij Al Khalifa and Chief Executive Officer Ali Al Baqali, along with Directors and Managers and concerned teams of the respective area. The FCN project, managed by the in-house Engineering and Operations team, has lifted Alba's amperage to 410 kA at Potlines 4 and 5, enabling the first aluminium smelter in the Middle East to increase production capacity by approximately 17,000 tonnes per annum. Commenting on this occasion, Alba’s Chairman Shaikh Daij bin Salman bin Daij Al Khalifa said: “By chasing operational efficiency, we will attain excellence as we journey to the...
The Goldman Sachs Group, a leading global investment bank and financial services company, shared aluminium price forecasts whereby it projected a growth led by soaring demand in Europe and China. But the setback it might create is supply shortages. As per the prediction noted by analysts like Nicholas Snowdon and Aditi Rai, aluminium is likely to average US$3,125 per tonne this year on the London Metal Exchange. This will reflect an increase of US$530 per tonne or 20.42 per cent from the past year’s average price of US$2,595 per tonne and US$562 per tonne or 21.93 per cent higher than the bank’s previous forecast of US$2,563 per tonne. Goldman also shared the metal price would most likely mount to US$3,750 per tonne in the next 12 months. “With visible global inventories standing at just...
Saudi Arabia’s Royal Commission for Jubail and Yanbu has attested to five investment calls worth SR43 billion (US$11.4 billion) approximately for the construction of major industrial projects in the Arabian cities of Yanbu and Ras Al Khair. The signing of these deals was accomplished under the pretext of the International Mining Conference, housed at the King Abdulaziz International Conference Center in Riyadh. The agreement also laid provisions for the Red Sea Aluminium Industrial Company to acquire leased industrial land in Yanbu Industrial City to constitute a unit for the safe smelting and rolling of aluminium and its alloys. The factory shed would also be used for drawing, purifying and casting, alongside the casting of non-ferrous metals, as the Royal Commission mentioned in a...
Hindalco Industries Limited back-to-back hiked its aluminium ingot and aluminium products prices on January 14. Previously, on January 12, Hindalco lifted its aluminium ingot price by INR 3,250 per tonne from INR 226,750 per tonne to INR 230,000 per tonne. On Saturday, January 14, the price was further raised by INR 4,500 per tonne to INR 234,500 per tonne. Hindalco’s aluminium wire rod price also saw an increase of INR 4,500 per tonne on January 14 to INR 245,600 per tonne, following a lift of INR 3,250 per tonne from INR 237,850 per tonne INR 241,100 per tonne. Aluminium billets price also witnessed a hike of INR 4,500 per tonne on January 14 to stand at INR 248,600 per tonne after a rise of INR 3,250 per tonne on January 12 from INR 240,850 per tonne to INR 244,100 per tonne. Hindalco...
LME aluminium opened at US$2,552 per tonne last Friday and closed at US$2,592.6 per tonne, an increase of US$44.1 per tonne or 1.73 per cent. On Friday, January 13, both LME aluminium cash bid price and LME aluminium official settlement price shot up by US$94.5 per tonne or 3.86 per cent and US$64 per tonne or 2.61 per cent to settle at US$2,510.50 per tonne and US$2,511 per tonne. 3-month bid price and 3-month offer price surged by US$68.5 per tonne or 2.76 per cent and US$70 per tonne or 2.82 per cent to reside at US$2,544 per tonne and US$2,546 per tonne. December 24 bid price and December 24 offer price also hiked by US$60 per tonne or 2.26 per cent and US$2.25 per cent to stand at US$2,710 per tonne and US$2,715 per tonne. LME aluminium opening stock settled at 403250 tonnes. Live...
A00 aluminium ingot price has dived down by RMB 10 per tonne, resting at RMB 18,450 per tonne, as the Shanghai Metals Market recorded at the beginning of the week, Monday, January 16. Last week, the aluminium ingot prices were on an upward trajectory but were unable to reach the range of RMB 19,060 per tonne created on December 27. The average prices are expected to range between RMB 18,430 per tonne and RMB 18,470 per tonne, with spot contracts trading at discount prices of RMB 30 per tonne and RMB 10 per tonne. The provinces in China all have seen falling prices today, with aluminium ingot prices declining the highest in Chongqing, Shenyang and Tianjin by RMB 40 per tonne, officially closing at RMB 18,500 per tonne, RMB 18,420 per tonne and RMB 18,400 per tonne. The other provinces like...
This week the primary aluminium sector has marked various shortcomings, with Slovalco closing the only aluminium smelter in Slovakia after 70 years of successful operation. The rising energy crisis in Europe and the impending effects of the Russia-Ukraine crisis have started showing their shades because, on January 11, Riyadh-based Ma'aden also declared that due to operational issues, the company is going to curtail production at its aluminium smelter which it jointly owns with Alcoa. On the same day, there was another important news, but fortunately, this was a good one. A certain Aluminium Dunkerque operative assured sources that the European smelter would resume aluminium production after a yearlong closure attributed to augmenting electricity prices last year. Both LME and SHFE have...
On January 12, 2023, a new World Economic Forum report stated that inflation and sluggish economic growth result from the current energy crisis. However, taking short-term risks like broad-based consumer subsidies and increasing the power produced from coal is dangerous. The paper, ‘Securing the Energy Transition', put out a thorough strategic plan to make security and resilience the core elements of a system transitioning to alternative energy sources. It advocates coordinating ongoing efforts to deal with the energy crisis with long-term objectives for the energy transition. In the world of aluminium, the European and US industries suffer the most due to soaring energy prices. To a certain extent, primary aluminium production is slashed, and even companies owning the smelters have...
The Saudi Arabia state-owned mining company headquartered in Riyadh, Ma'aden, announced on Wednesday that due to operational issues, the company had curtailed output at the aluminium smelter it jointly owns with Alcoa Corp., but the firm is currently scaling output back up. According to Robert Wilt, the CEO of Ma'aden, at the same time, the company worked to stabilise the operation and address quality-control concerns. He spoke of "high anode effects," which can introduce undesired contaminants into aluminium, lowering its grade. "I don't anticipate it affecting our budget," added Wilt. Wilt refused to provide details but said no clients would be impacted due to the shutdown. He omitted to mention how much the output had been affected. Ma'aden and Alcoa control 25 per cent of the enormous...
In the midst of a potential demand-supply scenario across the primary aluminium sector, given the rising investments towards reducing the carbon footprint at production, there were some key developments in global primary aluminium projects in 2022. While some projects were for developing clean energy to power aluminium smelters, some were for expanding integrated greenfield aluminium capacity to meet the anticipated 96.6 million tonnes of world aluminium demand. Given below are the key primary aluminium projects in 2022 – In early May 2022, Sunshine Hydro and Energy Estate proposed the construction of the world’s first super-hybrid green hydrogen project in Central Queensland, valued at $5.5 billion with massive wind and pumped hydro facilities. The project is expected to feature 1.8GW of...
The A00 aluminium ingot price in China has been on the rise since Monday, January 9. As of Friday, January 13, the price has been recorded at RMB 18,460 per tonne with a hike of RMB 230 per tonne. The average price for the same may orbit between RMB 18,440 per tonne and RMB 18,480 per tonne, with the spot contract expected to be traded at a discount price of RMB 20 per tonne to a premium price of RMB 20 per tonne. The prices have shown an increment in all the major provinces. As per the SMM data, the prices in Gongyi, Foshan and Wuxi have ascended by RMB 220 per tonne to close at RMB 18,300 per tonne, RMB 18,520 per tonne and RMB 18,465 per tonne. On the same day, prices in Hangzhou, Chongqing and Linyi also witnessed the same price hike, scoring at RMB 18,470 per tonne, RMB 18,540 per...
LME aluminium opened at US$2,458 per tonne on Wednesday and closed at US$2,489 per tonne, an increase of US$26 per tonne or 1.06 per cent. On January 12, Thursday, the LME aluminium cash bid price swamped in a long time by US$4.50 per tonne or 0.18 per cent, closing at US$2,446 per tonne, and the LME aluminium official settlement price faced a US$4 per tonne or 0.16 per cent decline to rest at US$2,447 per tonne. The 3-month bid price witnessed a drop of US$10.50 per tonne or 0.42 per cent, officially anchoring at US$2,475.50 per tonne, and the 3-month offer price saw a US$ 11 per tonne or 0.44 per cent drop to halt at US$2,476 per tonne. December 24 bid price and December 24 offer price stood at US$2,650 per tonne and US$2,655 per tonne on Thursday, with a loss of US$15 per tonne or 0.56...
India's only backwards integrated Carbon company with a fully dedicated source of raw materials, Epsilon Carbon, is set to begin its second phase of expansion. The team got together to perform the laying of the foundation stone ceremony. It's a significant progress milestone for the company as it ushers in a new dawn of growth and development. The groundbreaking ceremony occurred at the company's Vijayanagar plant in Karnataka, India. Vikram Handa, the Managing Director of the company, led the event, with his family participating in the ceremony. There was a feeling of new beginnings in the air, and the energy was energizing for all who attended. Epsilon Carbon Pvt Ltd, founded in 2010, is a manufacturer of coal tar derivatives led by a dedicated, experienced team of industry...
Social inventories of aluminium billets in China have further built up 15,100 tonnes week-on-week to peg at 95,000 tonnes on January 12 across the five major consumption areas. Except for Changzhou, all the major markets have witnessed a growth in billet inventories this week, driven by high shipments from southwest China and rapidly cooling demand after downstream users took an early break for the Chinese New Year holiday. The chart below indicates the current status of aluminium billet inventories across China in more details: This week, Foshan has contributed the highest to the billet inventories growth, accumulating 10,900 tonnes over the week to 45,400 tonnes, found the Shanghai Metals Market. Inventories in Wuxi and Huzhou have experienced a gain of 3,000 tonnes and 2,000 tonnes,...
National Aluminium Company Limited (NALCO) has escalated its aluminium ingot and aluminium products prices sharply on Thursday, January 12, in response to the LME aluminium benchmark price rally for over the past three days. The company has lifted its aluminium ingot price by INR 13,500 per tonne or 6.25 per cent from INR 215,850-219,350 per tonne on January 6 to INR 229,350-232,850 per tonne on January 12. NALCO’s aluminium wire rod price has come in at INR 233,850-238,200 per tonne, significantly up by INR 13,500 per tonne from INR 220,350-224,700 per tonne last Friday. Aluminium billets price is no exception but also seen a surge by the same amount to range between INR 233,800-236,450 per tonne versus INR 220,300-222,950 per tonne in the previous week. NALCO links its aluminium ingot...
On January 11, 2023, one of the largest aluminium smelters in Europe, Aluminium Dunkerque's spokesperson, said that the primary aluminium producer had begun resuming production capacity that had been idled when it was stung by skyrocketing electricity prices last year. The spokesperson added that the site, which reduced output by around a fifth in the fourth quarter, is expected to reach full capacity by May 2023. Several factors contributed to the move, including easing French power prices and government support for energy-intensive industries. Aluminium production in Europe has dropped to its lowest level since the 1970s as rising energy costs dealt a crushing blow to this energy-intensive industry.
Three-month LME aluminium opened at US$2,458 per tonne on Wednesday and closed at US$$2,489 per tonne, an increase of US$26 per tonne or 1.06 per cent. On Wednesday, January 11, both the LME aluminium cash bid price and the LME aluminium official settlement price recorded a surge for the third day in a row. While the former rallied by US$55.50 per tonne to peg at US$2,450.50 per tonne, the latter hiked by US$54 per tonne to settle at US$2,451 per tonne. The 3-month bid price and 3-month offer price climbed up by US$56 per tonne and US$55 per tonne, respectively, to hover around US$2,486 per tonne and US$2,487 per tonne. December-24 bid price and December-24 offer price closed at US$2,665 per tonne and US$2,670 per tonne, up by US$53 per tonne from the previous day. LME aluminium opening...
Aluminium Bahrain B.S.C. (Alba), one of the world's largest aluminium smelters, announced that it had awarded its Solar Farm Project to Advanced United Systems (AUS) for the installation of Solar Photovoltaic (P.V.) Panels covering 37,000 m2 with a capacity of more than 6 Megawatts (M.W.). The Solar Farm Project will include approximately 11,300 solar panels that will be installed on the roofs of Alba parking lots and some of its buildings, including the Spent Pot Lining Treatment (SPL) Plant. The Solar Farm Project will generate approximately 10,539 MWHr per year and reduce approximately 7,591,760 kilogrammes of carbon emissions per year, for a total reduction of 189,794,000 kilogrammes of carbon emissions over a 25-year period. Shaikh Daij bin Salman bin Daij Al Khalifa, the Chairman of...
