Aluminium Bahrain (Alba) is currently producing aluminium at an annualised rate of around 1.3 million tonnes, with the smelter operating at roughly 80 per cent of its pre-Iran war capacity, according to CEO Ali Al Baqali. Alba had a pre-war capacity of around 1.6 million tonnes per year, but production was disrupted after the outbreak of the war and restrictions around the Strait of Hormuz affected exports. The smelter was also hit by an Iranian attack in late March. The Bahrain-based producer is now operating Lines 4, 5 and 6, together representing annualised aluminium production of approximately 1.3 million tonnes, Al Baqali told Reuters on the sidelines of the Fastmarkets Aluminium Conference in Budapest on September 16. Al Baqali described the damage from the Iranian strike as minor...
China’s domestic aluminium inventories declined, giving some support to aluminium prices. However, China’s aluminium production remained high, while a new alumina project in Guangxi entered trial production and is expected to add to future supply. For aluminium, the fall in domestic inventories is a positive factor for prices. However, the supply picture remains mixed, as China’s aluminium production reached a record 4 million tonnes in August, according to the National Bureau of Statistics. Output was 4.7 per cent higher year on year, while production during January-August reached around 31 million tonnes, up 3.9 per cent from the same period last year. At the current pace, annual production could reach around 47 million tonnes, above the country’s long-standing 45-million-tonne...
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Today, on December 27, the SHFE benchmark aluminium price has hiked by US$51 per tonne or 1.91 per cent to reside at US$2,717 per tonne. The most-traded SHFE 2301 aluminium closed up 0.46 per cent or RMB 85 per tonne at RMB 18,715 per tonne, with open interest down 18,232 lots to 76,410 lots. Overnight, the most-traded SHFE 2301 aluminium contract opened at RMB 18,695 per tonne, with its low and high at RMB 18,655 per tonne and RMB 18,820 per tonne before closing at RMB 18,770 per tonne, up RMB 55 per tonne or 0.29 per cent. LME aluminium price On Monday, December 26, LME was closed due to the Christmas holiday. However, on Friday, December 23, both LME aluminium cash bid price and LME aluminium official settlement price recorded a drop of US$19.50 per or 0.82 per cent and US$20 per tonne...
A00 aluminium ingot price has surged by RMB 300 per tonne, resting at RMB 19,060 per tonne, as the Shanghai Metals Market recorded on Tuesday, December 27. The average prices are expected to range between RMB 19,040 per tonne and RMB 19,080 per tonne, with spot contracts trading at premium prices of RMB 100 per tonne and RMB 60 per tonne. The provinces in China have experienced the pleasure of escalating prices, with the aluminium price rising the highest in Foshan by RMB 310 per tonne, closing at RMB 19,090 per tonne, followed by RMB 300 per tonne spike in Hangzhou to clock at RMB 19,090 per tonne as well. In Chongqing, the price of aluminium has levitated by RMB 290 per tonne to halt at RMB 19,070 per tonne. Wuxi and Shenyang have witnessed increasing prices today, closing at RMB 19,010...
The professed carbon border adjustment mechanism (CBAM) will safeguard the European industry from importing less expensive, more polluting goods by impersonating the domestic carbon pricing in the European Union. However, it will start with aluminium imports, among others like iron and steel, cement, fertilisers and electricity, and hydrogen. It was reached the day after the G7 industrialised nations announced that they would establish an "international climate club" to promote a sustainable industry. Pascal Canfin, the Chairman of the European Parliament's environment committee, said, "For the first time, we will ensure fair treatment for our enterprises, which pay a carbon price in Europe, and their foreign competitors, who do not." “This is a major step that will allow us to do more...
On Monday, December 26, A00 aluminium ingot price in China slipped by RMB 40 per tonne to stand at RMB 18,760 per tonne, with the average prices standing between RMB 18,740 per tonne and RMB 18,780 per tonne. The spot contract price is expected to be traded at a premium price of RMB 120 to RMB 160 per tonne. The prices in Hangzhou and Linyi have climbed up by RMB 20 per tonne to stand at RMB 18,850 per tonne and RMB 18,790 per tonne. On the other hand, in Foshan and Gongyi, the prices have slipped by RMB 50 per tonne and RMB 40 per tonne to peg at RMB 18,780 per tonne and RMB 18,620 per tonne. On the same day in Chongqing and Tianjin, the A00 aluminium ingot price has declined by RMB 30 per tonne and RMB 20 per tonne to settle at RMB 18,780 per tonne. In Wuxi, the price went down by RMB...
National Aluminium Company Limited (NALCO) has slightly elevated its aluminium ingot and aluminium products prices by INR 1,400 per tonne, with effect from Saturday, December 24, following two back-to-back cuts on December 15 and 21. The raise on December 24 has brought NALCO’s aluminium ingot price to INR 224,250-227,750 per tonne versus INR 222,850- 226350 per tonne on December 21. NALCO’s aluminium wire rod price is currently hovering around 228,750-233100 per tonne, with effect from December 24, seeing a rise from INR 227,350- 231,700 per tonne on December 21. Aluminium billets price has come in at INR 228,700-231,350 per tonne, compared to INR 227,300-229,950 per tonne a couple of days ago. NALCO has increased its aluminium ingot and aluminium products prices in response to the...
LME aluminium opened at US$2,391.5 per tonne last Monday, with its high and low at US$2,410 per tonne and US$2,363 per tonne respectively before closing at US$2,395.5 per tonne, an increase of US$3.5 per tonne or 0.15 per cent. On December 23, Friday, LME aluminium cash bid price slumped by US$19.50 per tonne or 0.82 per cent, closing at US$2,341.50 per tonne and the LME aluminium official settlement price dropped by US$20 per tonne or 0.85 per cent to rest at US$2,342 per tonne. The 3-month bid price and the 3-month offer price experienced a downfall of US$24 per tonne or 1 per cent to close pre-holidays at US$2,371 per tonne and US$2,373 per tonne, respectively. December 23 bid price and December 23 offer price both witnessed a similar plunge of US$23 per tonne or 0.92 per cent,...
The century-old Indian trade association, Associated Chambers of Commerce and Industry of India (ASSOCHAM), has lobbied for a decrease in the basic customs tax and correction of the inverted duty structure on crucial raw materials for the aluminium industry since high import charges are a big disadvantage for the sector that is largely dependent on imported raw materials. According to Assocham's pre-Budget note for 2023–2024, high import duties on raw materials make Indian finished goods more expensive and uncompetitive in global markets, providing little protection against cheaper finished product imports and inhibiting domestic value addition within the nation. The organisation representing the interests of trade and commerce in India, Assocham, said, "Indian aluminium producers have...
In Russia & Eastern Europe, primary aluminium production amounted to 333,000 tonnes during November 2022, which reflected a month-on-month decline of 11,000 tonnes or 3.20 per cent, found the International Aluminium Institute. In October, the output was 344,000 tonnes, up by 3.61 per cent from 332,000 tonnes in September. On a year-on-year calculation, primary aluminium production in Russia & Eastern Europe during Nov'22 edged a downfall of 6,000 tonnes or 1.77 per cent from 339,000 tonnes. From January to November 2022, Russia & Eastern Europe churned out 3.738 million tonnes of primary aluminium, down by 1.32 per cent from 3.788 million tonnes during the same period last year. In Western & Central Europe, primary aluminium production stood at 224,000 tonnes during November 2022,...
This week, the global primary aluminium segment witnessed limited but significant events. To begin with, Norsk Hydro and the other two partners announced their planning's to construct an onshore wind farm along Norway's west coast for a price ranging from 3 and 4 billion Norwegian crowns ($304 million-$405 million). When approved, the project will provide one terawatt hour (TWh) of sustainable energy for existing and prospective businesses in the Hoeyanger and Sunnfjord regions. Another significant event was the acceptance of the modified climate plan, with a focus on 2050, which was adopted by the Board of Rusal, a major producer of aluminium worldwide with operations in Russia. Under the market forefront, the World Primary aluminium production in November 2022 witnessed a drop of 3.21...
According to the Shanghai Metals Market, social inventories of primary aluminium across China’s eight major consumption areas, including SHFE warrants, stood at 475,000 tonnes on December 22, registering a further decline of 7,000 tonnes week-on-week. That pulled down the inventories even below the 5-year low last week. Compared to the end of November, the current stocks edged 41,000 tonnes lower and 416,000 tonnes less than last year. The chart below indicates the current status of primary aluminium inventories across China in more details: In Nanhai and Wuxi, primary aluminium inventories decreased by 5,000 tonnes and 4,000 tonnes, respectively, to hover around 108,000 tonnes and 89,000 tonnes, respectively. But inventories in Shanghai inched up by 1,000 tonnes to amount to 38,000...
As of Thursday, December 22, SMM's social inventory of aluminium billets was 57,600 tonnes, a decrease of 3,800 tonnes from a week prior, primarily due to Foshan. According to SMM research, several aluminium billet factories in Inner Mongolia, Ningxia, and Gansu reduced or suspended production in the middle of December, 10–20 days earlier than in previous years, as a result of sharply declining orders, the COVID-19 pandemic's worsening effects after control measures were loosened, and the depressing real estate market. The figure below provides further information on the current state of aluminium billet inventories in China: The inventory in Wuxi hiked by 4,300 tonnes to stand at 10,800 tonnes from 6,500 tonnes recorded last week. On the same day, in Changzhou and Huzhou, the inventories...
The German government's €28 billion ($29.69 billion) support programme for renewable energy, which aims to increase the use of wind and solar power quickly, was announced as having been approved by the European Commission. The policy, which will replace an existing renewables support scheme, will be in effect until 2026 and help Germany meet its target of producing 80 per cent of its renewable energy by 2030. According to the European Commission, the scheme was "necessary and suitable" to promote renewable energy sources and reduce emissions that contribute to global warming. Its favourable effects on the environment exceeded any potential competitive distortions. Margrethe Vestager, the Chief of EU competition policy, "The German Renewable Energy Act 2023 scheme will contribute to...
Primary aluminium production in Africa stood at 127,000 tonnes during November 2022, reflecting a month-on-month plunge of 14,000 tonnes or 9.93 per cent, found the International Aluminium Institute. In October, the output amounted to 141,000 tonnes, up by 6,000 tonnes or 4.44 per cent from 135,000 tonnes a month ago. On a year-on-year calculation, Africa’s primary aluminium output edged a drop of 4,000 tonnes or 3.05 per cent from 131,000 tonnes. From January to November 2022, Africa churned out 1.483 million tonnes of primary aluminium in total, which recorded an increase of 2.13 per cent from 1.452 million tonnes a year ago. The world production of primary aluminium clocked at 5.611 million tonnes in November 2022, registering a decrease of 3.21 per cent from 5.797 million tonnes in...
LME aluminium opened at US$2,396 per tonne on Thursday, with its high and low at US$2,411 per tonne and US$2,380 per tonne, respectively, before closing at US$2,392 per tonne, down US$3.5 per tonne or 0.15 per cent. On Thursday, December 22, both LME aluminium cash bid price and LME aluminium official settlement price went up by US$6 per tonne or 0.25 per cent and US$5 per tonne or 0.21 per cent to halt at US$2,361 per tonne and US$2,362 per tonne. 3-month bid price and 3-month offer price closed at US$2,395 per tonne and US$2,397 per tonne after recording a growth of US$5 per tonne or 0.20 per cent. December 23 bid price and December 23 offer price climbed up by US$5 per tonne or 0.20 per cent to stand at US$2,480 per tonne and US$2,485 per tonne. LME aluminium opening stock closed at...
A00 aluminium ingot price has plunged by RMB 20 per tonne, resting at RMB 18,800 per tonne, as the Shanghai Metals Market recorded on Friday, December 23. The average prices are expected to range between RMB 18,780 per tonne and RMB 18,820 per tonne, with spot contracts trading at premium prices of RMB 140 per tonne and RMB 180 per tonne. Most of the provinces in China experienced the pangs of declining prices today, with only one exception, Hangzhou, where the aluminium price has hovered at RMB 18,850 per tonne, with an addition of RMB 20 per tonne. Other than that, the aluminium prices in Chongqing, Shenyang, Tianjin and Linyi have all lost RMB 20 per tonne, closing at RMB 18,810 per tonne, RMB 18,750 per tonne, RMB 18,800 per tonne and RMB 18,770 per tonne, respectively. In Wuxi, the...
National Aluminium Company Limited (NALCO) has further slashed its aluminium ingot and aluminium products prices by INR 5,800 per tonne, with effect from Thursday, December 21. The latest cut has brought the company’s aluminium ingot price at INR 222,850- 226350 per tonne, compared to INR 228,650- 232,150 per tonne on December 15. Aluminium wire rod price has been decreased to INR 227,350- 231,700 per tonne, effective from December 21, from INR 233,150-237,500 per tonne on December 15. Aluminium billets price is currently ranging between INR 227,300-229,950 per tonne versus INR 5,800 per tonne about a week ago. NALCO has continued to reduce its aluminium ingot and aluminium products prices in response to the LME aluminium benchmark price fall by US$50 per tonne from US$2,379.50 per tonne...
LME aluminium opened at US$2,377 per tonne on Wednesday, with its high and low at US$2,418 per tonne and US$2,376 per tonne respectively before closing at US$2,392 per tonne, a gain of US$20.5 per tonne or 0.86 per cent. On December 21, Wednesday, LME aluminium cash bid price jumped up by US$26 per tonne or 1.12 per cent, closing at US$2,355 per tonne and the LME aluminium official settlement price soared by US$27.50 per tonne or 1.18 per cent to rest at US$2,357 per tonne. The 3-month bid price escalated by US$20 per tonne or 0.84 per cent officially closing at US$2,390 per tonne and the 3-month offer price experienced a hike of US$21 per tonne or 0.88 per cent to halt at US$2,392 per tonne. December 23 bid price and December 23 offer price both witnessed a similar rise of US$22 per...
Aluminium Stewardship Initiative has reportedly certified Guangyuan Linfeng Aluminum & Electricity Co., LTD against the Performance Standard V2 (2017) Certification for aluminium smelting activities at the Yuanjiaba Industrial Park, Guangyuan Economic and Technological Development Zone, China. The facility runs aluminium smelting operation using hydropower available in Sichuan province. It has an annual output of nearly 250,000 tonnes of aluminium in liquid and ingot form, which are mainly destined for the production of aluminium strip and foil as well as automotive wheel manufacturing. Fiona Solomon, Chief Executive Officer at ASI, said: “We congratulate Guangyuan Linfeng Aluminum & Electricity Co., LTD for achieving Performance Standard Certification for its aluminium smelting...
