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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Emirates Global Aluminium (EGA) and PT Indonesia Asahan Aluminium (INALUM) have signed a contract, which will give EGA the sole right to licence its technology developed in the UAE to INALUM for the expansion of the Indonesian company's Brownfield aluminium smelter as well as the right to invest in the project and offtake metal. According to the agreement, if the Brownfield expansion of the Kuala Tanjung smelter in North Sumatra is possible, EGA will have the only right to commercially licence its DX+ Ultra smelting technology to INALUM, the company's most advanced industrialised technology. "This agreement is an important step forward in our cooperation with INALUM, and brings closer the deployment of our UAE-developed technology in Indonesia. A potential investment in the Kuala Tanjung...
Hindalco Industries Limited has extended its aluminium ingot and aluminium products price hike, with effect from Wednesday, November 16, although at a lower rate than November 12. Hindalco has expanded its aluminium ingot price by INR 2,000 per tonne from INR 222,250 per tonne on November 12 to INR 224,250 per tonne on November 16. Hindalco’s aluminium wire rod price has also been raised by INR 2,000 per tonne from INR 233,350 per tonne on November 12 to INR 235,350 per tonne on November 16. Aluminium billets price has also seen an increase of INR 2,000 per tonne to stand at INR 238,350 per tonne as of November 16 versus INR 236,350 per tonne on November 12. Hindalco Industries Limited links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the...
India's largest aluminium producer, Vedanta Aluminium, implemented Internet of Things (IoT)-based technology for cooling water analysis and total water usage reduction at its power facilities in Jharsuguda, Odisha. These power plants employ a network of cooling towers with natural draughts and a water-based recirculating cooling system. The IoT technology uses current operating data and suggests the best water quality parameters, which eventually result in water conservation by raising CoC (or cycle of concentration, i.e., reuse of the same water multiple times for cooling the condenser). Reduced water use, better water quality, less scaling and corrosion, and improved other operational factors brought about by this technology have resulted in an overall increase in station heat rate (a...
LME aluminium opened at US$2,438 per tonne on Tuesday, with its high and low at US$2,478 per tonne and US$2,422 per tonne, respectively, before closing at US$2,435 per tonne, a drop of US$17.5 per tonne or 0.71 per cent. On Tuesday, November 15, both LME aluminium cash bid price and LME aluminium official settlement price hiked by US$17.5 per tonne or 0.73 per cent and US$18 per tonne or 0.75 per cent to settle at US$2,409 per tonne and US$2,410 per tonne. 3-month bid price and 3-month offer price expanded by US$27 per tonne or 1.11 per cent to halt at US$2,443 per tonne and US$2,445 per tonne. December 23 bid price and December 23 offer price gained US$36 per tonne to rest at US$2,518 per tonne and US$2,523 per tonne. LME aluminium opening stock came in at 538825 tonnes. Live warrants...
Aluminium Bahrain, one of the world's largest aluminium smelters ex-China, reached the financial close on its Power Station 5 Block 4 project. The virtual signing ceremony with Sinosure was held on Monday, November 14. The $225 million facility is supported by the China Export and Credit Insurance Corporation (SINOSURE), has a 15-year tenor, competitive interest rates, and the principal will be repaid over that time, plus a three-year grace period. "Aluminium Bahrain B.S.C. (Alba), one of the world's largest aluminium smelters, has reached the financial close for its Block 4 of Power Station 5 (PS5) that will add 680.9 megawatts (MW), which once completed will increase the nameplate capacity of PS5from 1.8GW to more than 2.4 GW", said by the Chairman of Alba's Board of Directors, Shaikh...
The National Bureau of Statistics revealed China’s primary aluminium production in October 2022 increased by 9.5 per cent year-on-year, bolstered by the ease of power consumption curb than the previous year and growing exports. NBS data showed the country produced 3.45 million tonnes of the metal, marking a rise for the eighth straight month compared to 2021 numbers. The daily average output in the said month was pegged at 111,290 tonnes, supported by higher consumption of primary aluminium to produce and meet overseas demand for Chinese aluminium products. From January to October 2022, China exported 5.68 million tonnes of unwrought aluminium and aluminium products. That was up by 25 per cent year-on-year, cushioning domestic primary aluminium output. In the first ten months of the year,...
On November 14, 2022, ALRO S.A., one of Europe's largest vertically integrated aluminium producers, measured by production capacity, reported its consolidated financial results for the nine months that ended September 30 2022. In 3Q 2022, the Group's turnover increased by 19% (1-3Q 2022: RON 2.9 billion vs RON 2.5 billion) with a decreasing trend, as aluminium quotations fell and demand slowed. In a challenging economic environment, the Group has scaled back certain production activities (primary aluminium and alumina) due to lower aluminium quotations and demand. Marian NĂSTASE, Chairman of the Board of Directors, ALRO, said, “2022 brought the challenges faced by our industry to a new stress level, with the war closer to our borders than ever, with soaring power prices and scarcity of...
According to the Shanghai Metals Market, social inventories of primary aluminium across China’s eight major consumption areas, including SHFE warrants, totalled 553,000 tonnes, losing further 23,000 tonnes over the weekend ended November 14. On a week-on-week basis, primary aluminium inventories decreased by 18,000 tonnes from 571,000 tonnes, showed SMM. The figure is also 59,000 tonnes lower than a month ago and 469,000 tonnes during the same period last year. To know the current status of the inventories in more details, refer the chart below: The decline in primary aluminium inventories on Monday was primarily led by Wuxi, registering a plunge of 24,000 tonnes over the weekend to 146,000 tonnes. In Gongyi, inventories dropped by 9,000 tonnes to peg at 66,000 tonnes as of Monday,...
LME aluminium opened at US$2,464 per tonne on Monday, with its high and low at US$2,478 per tonne and US$2,408 per tonne, respectively, before closing at US$2,436 per tonne, an increase of US$27.5 per tonne or 1.12 per cent. On November 14, Monday LME aluminium cash bid price slumps by US$16.50 per tonne or 0.68 per cent to close at US$2391.50 per tonne and the LME aluminium official settlement price downsized by US$18 per tonne or 0.75 per cent to halt at US$2,392 per tonne. The 3-month bid price has gone down by US$9 per tonne or 0.37 per cent to settle at US$2,416 per tonne, and the 3-month offer price dipped by US$8 per tonne or 0.33 per cent to close at US$2,418 per tonne. December 23 bid price and December 23 offer price both recorded a fall of US$10 per tonne or 0.4 per cent,...
Vedanta Limited hiked its aluminium ingot and aluminium products prices, with effect from Saturday, November 12, after a cut by INR 6,250 per tonne on the previous day. On November 12, Vedanta’s aluminium ingot price saw an expansion of INR 9,250 per tonne from INR 215,250-246,250 per tonne to INR 224,500-255,500 per tonne. Vedanta’s aluminium wire rod price was also elevated by INR 9,250 per tonne, with effect from November 12, to sell the production at INR 232,000-239,500 per tonne. On November 11, the wire rod price stood at INR 222,750-230,250, slashed by INR 6,250 per tonne from the earlier day. The company’s aluminium billet price came in at INR 233,500 per tonne on November 12, experiencing an elevation of INR 9,250 per tonne from November 11. Vedanta lifted its aluminium prices on...
On Tuesday, November 15, A00 aluminium ingot price in China has shown no change to settle at RMB 18,780 per tonne. The prices in Tianjin and Gongyi have grown by RMB 100 per tonne and RMB 30 per tonne to stand at RMB 18,860 per tonne and RMB 18,680 per tonne. On the other hand, in other regions like Foshan, Wuxi and Hangzhou, the price has remained restrained to close at RMB 18,960 per tonne, RMB 18,780 per tonne and RMB 18,800 per tonne. In Chongqing and Shenyang, the price has shown no change to reside at RMB 18,950 per tonne and RMB 18,720 per tonne. The high purity aluminium (99.99%) price and high purity aluminium (99.996%) price have also remained unchanged at RMB 27,000 per tonne and RMB 28,000 per tonne. The domestic price of low carbon aluminium in China has inched down by RMB 1...
To explore the viability of developing a new high-purity aluminium (HPA) manufacturing plant in North America, Orica and Alpha HPA Limited have established a non-binding Memorandum of Understanding (MoU) and acquired a 5 per cent ownership stake in the company. "Building on our successful partnership with Alpha HPA in Australia, we are thrilled to further expand our relationship and explore opportunities for growth and circularity in North America. The Alpha HPA First project in Queensland has demonstrated how industrial partnerships can optimise resource use, simultaneously creating value and reducing waste," said Orica Managing Director and Chief Executive Officer Sanjeev Gandhi. The funds from the equity investment will be used to advance feasibility studies on the potential for an...
Emirates Global Aluminium (EGA), the world's largest 'premium aluminium' producer, has recorded yet another milestone. The company has produced 40 million tonnes of hot metal since its operations in 1979. As a result, roughly 3 per cent of all aluminium made in the UAE has been by EGA. "Reaching 40 million tonnes of hot metal production is a proud moment for everyone who works at EGA. Together, we have innovated aluminium to make modern life possible. Since EGA was founded by His Highness Sheikh Rashid as Dubai Aluminium, we have been a pioneer of economic diversification in the UAE while growing into a champion of the aluminium industry globally," said Abdulnasser Bin Kalban, Chief Executive Officer of EGA. Aluminium is a crucial component of modern life, and EGA's metal is utilised by...
LME aluminium opened at US$2,325 per tonne last Friday, with its high and low at US$2,486.5 per tonne and US$2,325 per tonne, respectively, before closing at US$2,460.5 per tonne, an increase of US$135 per tonne or 5.81 per cent. On Friday, November 11, both LME aluminium cash bid price and LME aluminium official settlement price escalated by US$136.5 per tonne or 6 per cent and US$138 per tonne or 6.07 per cent to halt at US$2,408 per tonne and US$2,410 per tonne. 3-month bid price and 3-month offer price elevated by US$142 per tonne or 6.21 per cent and US$141 per tonne or 6.17 per cent to record at US$2,425 per tonne and US$2,426 per tonne. December 23 bid price and December 23 offer price shot up by US$139 per tonne to settle at US$2,492 per tonne and US$2,497 per tonne. LME aluminium...
On November 13, 2022, the Indonesian large-cap house Adaro stated that PT Adaro Minerals Indonesia Tbk inked a memorandum of understanding (MoU) with South Korea's auto giant Hyundai Motor Company on aluminium supply for automobile manufacturing. In Bali, Indonesia, a Memorandum of Understanding was signed on the sidelines of the G20 summit. The MoU stated, "Hyundai would secure the right to purchase aluminium produced by Adaro's subsidiary PT Kalimantan Aluminum Industry at an early production stage and then the first negotiation right to procure low-carbon aluminium produced by KAI in the future with undetermined offtake volume in the range of 50,000-100,000 TPA.” PT Adaro Energy Indonesia Tbk is the second-largest coal miner in the country by production volume and its largest by market...
The 2022 United Nations Climate Change Conference or Conference of the Parties of the UNFCCC, more commonly referred to as COP27, is the 27th United Nations Climate Change Conference and is being held from November 6 until November 18 2022, in the Egyptian resort town, Sharm El-Sheikh. At COP27 and beyond, the United States stimulated countries – distinctly significant economies – and the private sector to implement existing commitments and goals and enhance obligations and goals to help close the gap between current pledges and what the latest science tells us is urgently needed. John F. Kerry, the former US Secretary of State and now the US's first Special Presidential Envoy for Climate opened the First Movers Coalition Leaders panel as it came together at COP27 to provide a progress...
This week, the global aluminium industry saw the Q3 results of some prominent aluminium companies. To begin with, Alba reported a profit of BD48 million (US$127.6 million) for the third quarter of 2022, 62% lower than the BD125.9 million (US$335 million) profit for the same quarter in 2021. In its third-quarter results for September 30, 2022, Century Aluminum reported net income increased $6.9 million sequentially to $44.3 million. In comparison to Q1 and Q2 of FY22, Nalco said that its total revenue for Q2 FY23 was INR 3,558.83 crore vs INR 3,846.22 crore and INR 3,634.59 crore, respectively. Another significant event was Vedanta becoming the first in the Indian aluminium business to have achieved the Bureau of Indian Standards (BIS) accreditation for its extensive line of aluminium...
A fatal incident at the St Gallen factory in Switzerland occurred when a 25-year-old electrician almost lost his life after falling inside a 720 °C tub of molten aluminium. The man not only survived, but remarkably enough, he dragged himself out of his obvious predicament. The man is now undergoing certain serious treatments for his severe burns. But it can be deemed as a miracle that the man survived the fall. He was engrossed in his work around the furnace at the St Gallen factory when this horrible accident happened. The man fell through a trap door into the boiling metal beneath and was submerged up to his knees in the extremely hot aluminium. In spite of being in complete pain, the man had to find his way out of the furnace and then the factory alarms were rung. Paramedics and...
