Vedanta Aluminium could see a 31 per cent upside from its current market price, with Kotak Neo retaining a ‘Buy’ rating and a price target of INR 540 as it expects a firm aluminium market to support the company's earnings growth. The research house expects global aluminium markets to remain tight through calendar year 2028, with project execution challenges potentially limiting the pace of new supply from Indonesia. It said the market may be underestimating the durability of the aluminium upcycle and Vedanta Aluminium's earnings growth potential. Vedanta Aluminium Metal shares were trading 3.02 per cent higher at INR 416.50 on Friday, September 18, 2026, compared with the previous close of approximately INR 404.30. The stock has declined around 8 per cent over the past month. At INR...
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...
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National Aluminium Company Limited (NALCO) has cut its aluminium ingot and aluminium products prices, effective from Saturday, November 19, after three consecutive hikes since the beginning of the month. NALCO’s aluminium ingot price has seen a trim of INR 2,900 per tonne from 227,950-231,450 per tonne on November 16 to INR 225,050-228,550 per tonne as of November 19. NALCO’s aluminium wire rod and billets prices have also witnessed a cut of INR 2,900 per tonne, each. The latest cut has brought the company’s aluminium wire rod price to INR 229,550-233,900 per tonne, while that of the billets price to INR 229,500- 232,150 per tonne. NALCO’s aluminium price cut with effect from November 19 followed a drop of US$50.50 per tonne in the three month futures of aluminium on the London Metal...
In October 2022, China’s aluminium imports, including primary metal and unwrought, alloyed metal, fell 33.9 per cent year-on-year, amounting to 196,460 tonnes, found the General Administration of Customs. That could be attributed to persistently weak demand and increased domestic supply due to the ramp-up in production. Aluminium output in October grew for the eighth consecutive month to 3.45 million tonnes. For the first ten months of 2022, China produced 33.33 million tonnes of aluminium – 3.3 per cent higher than in the same period last year. Weaker demand for aluminium in China’s transportation, construction, and packaging sectors due to strict COVID curbs also contributed to the decline in imports. Factory output in the world’s second largest economy grew slower than expected in...
New Zealand-based Forsyth Barr, a firm specialising in innovative financial services and investment solutions, has claimed that the Tiwai Point aluminium smelter is scheduled to remain open till 2039 but will require more expenditure for power deals. Tiwai Point aluminium smelter is primarily owned by Anglo-Australian mining leader Rio Tinto and has been under constant scrutiny for the past few months. The smelter authorities need to curate a new power supply contract which is to be activated by 2024, to save Tiwai Point from confirmed disintegration. The firm is continuously on speaking terms with various electricity providers, trying to negotiate a feasible deal. On November 21, Forsyth Barr came up with publications indicating that the smelter would remain active until 2039 and also...
A00 aluminium ingot price in China started the week on Monday, November 21, with a slump of RMB 250 per tonne to the level of RMB 19,000 per tonne, found the Shanghai Metals Market. The average prices are expected to range between RMB 18,980 per tonne and RMB 19,020 per tonne, with a spot contract to be traded at a premium price of RMB 50-90 per tonne. In Linyi, primary aluminium ingot price has plunged by RMB 280 per tonne to stand at RMB 19,050 per tonne as of November 21, followed by a decline of RMB 270 per tonne in Gongyi and Hangzhou to RMB 18,940 per tonne and RMB 18,990 per tonne. In Wuxi and Foshan, A00 aluminium ingot price has shrunk by RMB 260 per tonne and RMB 250 per tonne to come in at RMB 19,000 per tonne and 19,060 per tonne, while the price in Chongqing, Tianjin, and...
LME aluminium opened at US$2,395 per tonne last Friday and closed at US$2,415 per tonne, an increase of US$20 per tonne or 0.84 per cent. On November 18, Friday LME aluminium cash bid price escalated to US$2368 per tonne after US$26 per tonne or 1.11 per cent was added last week, and the LME aluminium official settlement price soared US$26.50 per tonne or 1.13 per cent to close at US$2,369 per tonne. The 3-month bid price gained US$29.50 per tonne or 1.24 per cent to settle at US$2399.50 per tonne, and the 3-month offer price shot up US$29 per tonne or 1.22 per cent, resting at US$2,400 per tonne. December 23 bid price and December 23 offer price both levitated by US$28 per tonne or 1.14 per cent, stopping at US$2,473 per tonne and US$2,478 per tonne, respectively. LME aluminium opening...
The EU's planned Carbon Border Adjustment Mechanism (CBAM) poses a significant risk to the southern African nation, Mozambique, primarily because of its aluminium exports to the EU. The metal aluminium is the country's most considerable export good, which accounts for up to 25 per cent of export earnings, worth US$1.4 billion. According to our report from the region, Mozambique's aluminium exports could be taxed between EUR 50 - 350 million per year under the proposed CBAM, depending on the methods used to estimate carbon intensity. On the contrary, Mozambique also has incomparable natural energy resources that could impressively contribute to a green energy transition domestically and in the Southern African region. Filipe Nyusi, the President of Mozambique, announced the first export of...
According to our European report, there has been a rush to sign contracts with the two major mining and smelting companies in Russia following the London Metal Exchange's decision not to forbid Russian metal from being traded on its platform and stored at its warehouses. Some buyers had postponed concluding annual supply agreements with MMC Norilsk Nickel PJSC and United Co. Rusal International PJSC due to the LME's deliberations over whether to outlaw Russian metal. However, contracts with both businesses are now getting finalised. The Russian aluminium giant, Rusal, stated that sales have increased after the LME's announcement. Brian Hesse, the owner and CEO of PerenniAL, the region's sole distributor of Rusal, said that aluminium sales in North America might decline by 4% to 5% due to...
Vedanta Limited reduced its aluminium ingot and aluminium products prices by INR 3,500 per tonne on Friday, November 18. With the latest cut, Vedanta’s aluminium ingot price hovered around 221,250-252,250 per tonne versus INR 224,750- 255,750 per tonne on November 17. Vedanta’s aluminium wire rod price ranged between INR 228,750-236,250 per tonne as of November 18, also down INR 3,500 per tonne from INR 232,250-239,750 per tonne on November 17. Aluminium billet price came in at INR 230,250 per tonne on November 18 compared to INR 233,750 on the previous day. Vedanta curtailed its aluminium ingot and products prices on November 18, in line with the plunge of the three-month futures of aluminium on the London Metals Exchange. On November 17, the LME aluminium benchmark price glided down by...
The primary aluminium sector was extremely active this week, with big aluminium companies like EGA, Alba, Vedanta, INALUM and many other prominent ones extending hands in collaboration for a better sustainable future. Emirates Global Aluminium and PT Indonesia Asahan Aluminium (INALUM) have signed a deal under which the former will be lending operational expertise to properly develop INALUM’s Brownfield aluminium smelter. Similarly, EGA signed an MoU with Japanese ITOCHU Corporation to support and complement each other’s capacity in building UAE’s industrial infrastructure. To keep up with the modernising world, Vedanta Aluminium has introduced an Internet of Things (IoT)-based technology for cooling water analysis and total water usage reduction at its power facilities in Jharsuguda,...
On November 18, Emirates Global Aluminium, the grandest industrial enterprise in the United Arab Emirates, excluding the oil and gas sector and ITOCHU Corporation of Japan bonded over a Memorandum of Understanding under which the companies would nurture and create joint projects in the UAE. This initiative is very crucial for UAE’s Operation 300 billion industrial growth scheme. The EGA and ITOCHU friendship can be traced back to the 1980s, with the latter commercially popularising the former’s metal to Japanese users and companies that are internationally active. In the recent ploy, both EGA and ITOCHU have decided to emphasise their individual industrial capabilities, further conjuring the best out of each other. Moreover, EGA wishes to enhance its existing activities with this...
According to the Shanghai Metals Market, primary aluminium inventories in China witnessed a slump of 29,000 tonnes week-on-week across eight major consumption areas, including SHFE warrants. Therefore, on Thursday, November 17, the inventories totalled 547,000 tonnes, which in comparison with the month’s second Monday, November 14, dropped further by 6,000 tonnes. As of now, the inventories in November dropped by 491,000 tonnes, as recorded in the same period last year and 65,000 tonnes on a month-on-month scale. The aluminium inventory is continuously maintaining an all-time low in the year 2022, with the inventories declining for four consecutive weeks. Moreover, this is significantly lower than the same period last year. The inventory in Gongyi descended big time, but the downstream...
A00 aluminium ingot price has shot up by RMB 260 per tonne, closing at RMB 19,250 per tonne, as the Shanghai Metals Market recorded on Friday, November 18. The average prices are expected to range between RMB 19,230 per tonne and RMB 19,2 70 per tonne, with spot contracts trading at a discount price of RMB10 per tonne and a premium price of RMB 30 per tonne. The provinces in China have witnessed augmenting prices today, with aluminium price in Linyi recording the highest rise of RMB 280 per tonne, closing at RMB 19,330 per tonne, followed by RMB 270 per tonne hike in Gongyi and Tianjin to settle at RMB 19,210 per tonne and RMB 19,230 per tonne, respectively. The aluminium price in Shenyang has gained RMB 260 per tonne to halt at RMB 19,200 per tonne, whereas there has been an RMB 255 per...
Three-month LME aluminium opened at US$2,412 per tonne on Thursday, with high and low at US$2,419.5 per tonne and US$2,361 per tonne, respectively, before closing at US$2,379 per tonne, a drop of US$15 per tonne or 0.62 per cent. On Thursday, November 17, LME aluminium cash bid price and LME aluminium official settlement price continued to decline for the second day in a row by US$50 per tonne and US$50.50 per tonne, respectively, to stand at US$2,342 per tonne and US$2,342.50 per tonne. 3-month bid price and the 3-month offer price plunged by US$48 per tonne and US$49 per tonne to rest at US$2,370 per tonne and US$2,371 per tonne. Both December 23 bid price and December 23 offer price recorded a downfall of US$48 per tonne to settle at US$2,445 per tonne and US$2,450 per tonne. LME...
The Sohar Free Zone in Oman has gladly accepted the opening of the Sanvira carbon plant with a manufacturing capability of 600,000 tonnes of calcined petroleum coke yearly and 24 megawatts of electricity generated by the steam force. The plant has been constructed by an Omani-Indian collaboration, where the Oman National Investments Development Company, 'Tanmia', United Business Company and India's Sanvira Industries all worked together at a pre-calculated pace, as was reported by sources. Sultanate of Oman will receive its first petroleum coke unit that transforms the simple material into carbon cathodes and anodes widely used in the production of primary aluminium. Moreover, petroleum coke has its own definitive applications in the integrated mining and aluminium industry. Carbon...
Michael Parson, the Governor of the State of Missouri in the United States of America, visited Emirates Global Aluminium's (EGA) Al Taweelah facility in Abu Dhabi. EGA is the largest industrial firm outside of oil and gas in the United Arab Emirates. During the visit, the Governor received a briefing on EGA's activities in the UAE and its dedication to servicing clients in North America through EGA America Inc, which has its headquarters in St. Louis, Missouri. EGA America Inc., one of the largest suppliers of primary aluminium in the United States, is the exclusive distributor of EGA's metal in North America. Al Taweelah, a location for Emirates Global Aluminium, is situated in Khalifa Industrial Zone Abu Dhabi (KIZAD), roughly halfway between Abu Dhabi and Dubai. The smelter at Al...
National Aluminium Company Limited (NALCO) has continued to increase its aluminium ingot and aluminium products prices, for the third time in a row, with effect from Thursday, November 16. The company has hiked its aluminium ingot price by INR 5,600 per tonne or 2.5 per cent from INR 222,350- 225,850 per tonne on November 10 to INR 227,950-231,450 per tonne on November 16. NALCO’s aluminium wire rod price has also seen a raise of INR 5,600 per tonne from INR 226,850- 231,200 per tonne to INR 232,450-236,800 per tonne as of November 16. Aluminium billets price is no exception but also accumulated the same amount to come in at INR 232,400-235,050 per tonne. NALCO links its aluminium prices to the three-month futures of aluminium on the London Metal Exchange, which from November 10 to 15...
On Thursday, November 17, the A00 aluminium ingot price hiked by RMB 140 per tonne to settle at RMB 18,990 per tonne, with the average prices ranging between RMB 18,970 per tonne and RMB 19,010 per tonne. The spot contract price is expected to be traded at a premium price of RMB 30 per tonne and 70 per tonne. Gongyi and Tianjin's price has increased by RMB 160 per tonne and RMB 140 per tonne to close at RMB 18,940 per tonne and RMB 18,960 per tonne. On the same day, the prices in Shenyang and Linyi have grown by RMB 110 per tonne to rest at RMB 18,940 per tonne and RMB 19,050 per tonne. The A00 aluminium ingot price in Chongqing and Foshan has increased by RMB 100 per tonne and RMB 90 per tonne to peg at RMB 19,120 per tonne and RMB 19,110 per tonne. In Wuxi and Hangzhou, the prices have...
LME aluminium opened at US$2,440 per tonne on Wednesday, with its high and low at US$2,459 per tonne and US$2,385 per tonne, respectively, before closing at US$2,403 per tonne, a drop of US$49.5 per tonne or 2.02 per cent. On November 16, Wednesday LME aluminium cash bid price and LME aluminium official settlement price both dived down by US$17 per tonne or 0.7 per cent to close at US$2,392 per tonne and US$2,393 per tonne, respectively. The 3-month bid price and the 3-month offer price have witnessed a similar downfall of US$25 per tonne or 1.02 per cent to settle at US$2,418 per tonne and US$2,420 per tonne. December 23 bid price and December 23 offer price both dipped by US$25 per tonne or 0.99 per cent, stopping at US$2,493 per tonne and US$2,498 per tonne, respectively. LME aluminium...
