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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On November 11, 2022, the London Metal Exchange (LME), one of the world's largest commodities exchanges, announced that it would not bar Russian metal from being traded and stored in its system due a vital segment of the market is still planning to procure Russian metal in 2023. Russia is one of the world's largest producers of aluminium and nickel. Sanctions imposed on some Russian companies following the Russia-Ukraine geopolitical crisis have not targeted these metals or the companies that produce them. However, in October 2022, the world's oldest and largest market for industrial metals exchange floated a discussion paper on the topic, seeking a market opinion on the possibility of prohibiting Russian metal. LME stated, "The LME does not propose at this time to prohibit the warranting...
According to the Shanghai Metals Market, primary aluminium inventories in China witnessed a decrease of 4,000 tonnes week-on-week across eight major consumption areas, including SHFE warrants. Therefore, on Thursday, November 10, the inventories totalled 576,000 tonnes, which in comparison with the month’s first Monday, November 7, escalated by 5,000 tonnes. As of now, the inventories in November dropped by 430,000 tonnes, as recorded in the same period last year and 36,000 tonnes on a month-on-month scale. The entire aluminium inventory was following a downward trajectory due to curtailed logistical activities. But in the upcoming weeks, the inventory in Gongyi is going to grow with increased arrivals after the local transport was revived on November 10 and because the downstream demand...
On Thursday, November 10, the social inventory of aluminium billets in China decreased by 6,300 tonnes or 10.41 per cent W-o-W to 54,200 tonnes. Overall, transportation will improve, but supplies' stability might be compromised by the pandemic's resurgence. The inventory of aluminium billets is still expected to decline soon. A billet is one of the most widely used aluminium product forms globally. The figure below provides further information on the current state of aluminium billet inventories in China: On the same day, the inventory in Huzhou and Changzhou ascended by 1,000 tonnes or 16.66 per cent and 500 tonnes or 11.36 per cent to settle at 7,000 tonnes and 4,900 tonnes. As per the data, the inventories in Foshan and Wuxi dipped by 6,600 tonnes or 19.07 per cent and 1,200 tonnes or...
According to the Shanghai Metals Market, China’s aluminium production amounted to 3.41 million tonnes in October (31 calendar days), with daily output of 110,100 tonnes. The monthly output reflected a 7.8 per cent growth year-on-year, driven by domestic operating capacity rise in October and more significant output growth in Sichuan. The operating aluminium capacity in Sichuan ramped up to about 360,000 tonnes in October, up by 160,000 tonnes M-o-M. On the other hand, the resumption of capacity in Guangxi and the commencement of new capacity in Guizhou and Inner Mongolia were slower than expected. In Yunnan, aluminium production dropped significantly as some smelters suspended their operation. About 1.17 million tonnes of the present capacity (4.04 million tonnes) in Yunnan was reduced...
The entire European aluminium market is currently streaming through a disquiet following a moreover better H1 2022. During the first quarter of 2023, the manufacturing industry is expected to counter a very gloomy prospect. While delivering their ambitious purchasing strategies earlier in 2022, many customers have overbooked themselves and will be seeking to delay deliveries in 2023. Although spot energy prices have fallen back in the past month, they remain far above the levels being paid by manufacturers under previous term contracts, many of which will expire in the new year according to market analysts. Manufacturers will face huge price jumps for their power needs, even if spot prices fall further in the near term or if EU governments impose energy price caps. In Q1 2023, few in the...
Aluminium Bahrain B.S.C. (Alba), one of the world’s leading aluminium companies headquartered in the Middle East, has announced the third quarter and nine months results ended September 30, 2022. As per the report, Alba has booked a profit of BD48 million (US$127.6 million) for the third quarter of 2022 – 62 per cent less than BD125.9 million (US$335 million) in Q3 2021. But its profit in the entire first nine months of the year reflected an increase of 39.2 per cent Y-o-Y, amounting to above US$1 billion for the second year in a row. The nine-month profit was reported at BD376.7 million (US$1,001.9 million) compared to BD270.7 million (US$720 million) a year ago. Alba’s total comprehensive income in the first nine months of 2022 also stood higher than a year ago from BD275.5 million...
On Friday, November 11, A00 aluminium ingot price in China has hiked by RMB 210 per tonne to settle 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 discount price of RMB 60 to RMB 20 per tonne. The price in Wuxi has increased by RMB 215 per tonne to settle at RMB 18,745 per tonne, followed by Foshan and Shenyang, where the prices have ascended by RMB 200 per tonne to peg at RMB 18,990 per tonne and RMB 18,690 per tonne. On the same day, prices in Gongyi, Hangzhou and Linyi has gone up by RMB 190 per tonne to halt at RMB 18,620 per tonne, RMB 18,750 per tonne and RMB 18,790 per tonne. The A00 aluminium ingot price in Tianjin has climbed up by RMB 180 per tonne to stand at...
LME aluminium opened at US$2,333.5 per tonne on Thursday, with its high and low at US$2,335 per tonne and US$2,317.5 per tonne respectively before closing at US$2,323 per tonne, a decrease of US$10.5 per tonne or 0.45 per cent. On November 10, Thursday, LME aluminium cash bid price and LME aluminium official settlement price both plunged by US$66 per tonne or 2.82 per cent to halt at US$2,271.50 per tonne, and US$2,272 per tonne, respectively. The 3-month bid price has gone down by US$71 per tonne or 3.02 per cent to settle at US$2,283 per tonne and the 3-month offer price downsized by US$70 per tonne or 2.97 per cent to close at US$2,285 per tonne. December 23 bid price and December 23 offer price recorded a fall of US$67 per tonne or 2.8 per cent, stopping at US$2,353 per tonne and...
Vedanta, one of the largest producers of aluminium in India, has achieved yet another milestone. The company obtained the Bureau of Indian Standards (BIS) certification and has become the first in the Indian aluminium business to have received the BIS certification for its broad range of aluminium products. With this certification, all their products are now Bureau of Indian Standards (BIS) certified, upholding its claim to unrivalled quality. "Aluminium will be indispensable to a low carbon future, with its limitless potential for applications in clean energy solutions, electric mobility, green buildings, high-tech manufacturing, sustainable packaging and more. Therefore, Vedanta Aluminium has robust systems in place to understand and exceed customer expectations. The BIS certifications...
National Aluminium Company Limited (NALCO) has elevated its aluminium ingot and aluminium products prices for the second consecutive time since November 1, although slightly at a lower rate. Compared to a hike of INR 6,600 per tonne on November 1, NALCO increased its aluminium ingot price by INR 5,300 per tonne on November 10. Thus, the price has come in at INR 222,350- 225,850 per tonne versus INR 217,050-220,550 per tonne last week. NALCO’s aluminium billets price has also seen a surge of INR 5,300 per tonne, with effect from November 10, amounting to INR 226,800- 229,450 per tonne. Aluminium wire rod price has been raised from INR 221,550-225,900 per tonne on November 1 to INR 226,850- 231,200 per tonne on November 10. NALCO links its aluminium prices to the three-month futures of...
LME aluminium opened at US$2,321.5 per tonne on Wednesday, with its high and low at US$2,321.5 per tonne and US$2,307 per tonne, respectively, before closing at US$2,308 per tonne, a decrease of US$13.5 per tonne or 0.58 per cent. On Wednesday, November 9, LME aluminium cash bid price increased by US$11 per tonne or 0.47 per cent to close at US$2,337.50 per tonne. However, LME aluminium official settlement price had inched up by US$1 per tonne to close at US$2,338 per tonne. 3-month bid price and 3-month offer price ascended by US$15.5 per tonne or 0.66 per cent to halt at US$2,354 per tonne and US$2,355 per tonne. December 23 bid price and December 23 offer price came in at US$2,420 per tonne andUS$2,425 per tonne after recording a growth of US$13 per tonne. LME aluminium opening stock...
On Wednesday, November 9, National Aluminium Limited (NALCO) announced its financial results for the second quarter and first half of the fiscal year 2023 ended September 30. The company declared its total income stood at INR 3,558.83 crore during Q2 FY23 compared to INR 3,846.22 crore in Q1 and INR 3,634.59 crore in Q2 FY22. That recorded a Q-o-Q decline of 7.47 per cent and a year-on-year fall of 2.08 per cent in the September quarter. However, for the first half of FY23, NALCO booked a 20.6 per cent increase in total income from INR 6,140.88 crore to INR 7,405.05 crore. NALCO’s profit before exceptional items and tax was pegged at INR 245.88 crore in Q2 FY23, 68.40 per cent less than INR 778.05 crore a quarter ago and 75.80 per cent plunged from INR 1,016.07 crore a year earlier,...
A00 aluminium ingot price has plunged by RMB 60 per tonne, closing at RMB 18,550 per tonne, as the Shanghai Metals Market recorded on Thursday, November 10. The average prices are expected to range between RMB 18,530 per tonne and RMB 18,570 per tonne, with spot contracts trading at a discount price of 40 per tonne. The provinces in China have witnessed overall falling prices, with the aluminium ingot price rising only in Chongqing by RMB 120 per tonne to rest at RMB 18,770 per tonne. The price of aluminium in Gongyi dropped RMB 100 per tonne to curl up at RMB 18,430 per tonne, whereas the price of aluminium in Hangzhou has gone down by RMB 90 per tonne to halt at RMB 18,560 per tonne. The aluminium prices in Wuxi, Shenyang and Linyi all plummeted by RMB 60 per tonne to close at RMB...
On November 2, Aluminium Bahrain B.S.C. (Alba), one of the largest aluminium smelters globally, was awarded the Gulf Aluminium Council (G.A.C.)'s Health & Safety Award 2022 at the Gulf Aluminium Dinner that was hosted at the Ritz Carlton, Bahrain. The award was handed over to Alba's Chief Executive Officer, Ali Al Baqali, via the hands of Alba's Chairman of the Board, Shaikh Daij bin Salman bin Daij Al Khalifa, who was also the patron of the dinner. Illuminated by the occasion, Alba's Chairman of the Board Shaikh Daij commented: "It takes leadership to improve Safety. I take the opportunity to thank our C.E.O. and the Management team for going the extra mile to ensure Safety is a top priority." "We are pleased to be the recipient of G.A.C.'s Health & Safety Award and equally proud to be...
Hindalco Industries Limited has reduced its aluminium ingot and aluminium products prices by INR 2,000 per tonne, with effect from Tuesday, November 8. This follows a hike of INR 6,250 per tonne in the previous week, November 5. As per the latest price chart revealed by Hindalco, its aluminium ingot price stands at INR 216,000 per tonne compared to INR 218,000 tonnes on November 5. Hindalco’s aluminium wire rod price has come in at INR 227,100 per tonne as of November 8 versus INR 229,100 per tonne on November 5. Aluminium billets price has summed up at INR 230,100 per tonne, down by INR 2,000 per tonne from INR 232,100 per tonne. Hindalco Industries Limited links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange. The...
After a brief pause in production, the Volta Aluminium Company (VALCO) is about to resume operations. This decision was at the helm during the meeting chaired by the Senior Management of VALCO, the VALCO local union and the Ministry of Lands and Natural Resources and leadership of the Industrial and Commercial Workers Union (ICU). A few days back, the media was flooded with news about workers' agitation in the facilities for dollar-equivalent payment . It came into prominence that the face-off had become so serious that some Management Members were not allowed entry into the factory premises, which had largely affected the day-to-day operations of the aluminium smelter. Though authorities had decided to shut down the plant for almost a week, it is now open after successful settlement...
Hydro Rein and Commerz Real are reportedly forming a joint venture to acquire and develop two early-phase solar projects in Jylland, Denmark. These are the first-ever investments in the Danish photovoltaic market for Commerz Real. The construction of the projects is expected to start in 2024, and operations to begin in early 2026. The objective is to grow the portfolio to 1 GW. The joint venture will be owned equally by Hydro Rein and Commerz Real. Danish developer GreenGo Energy will develop the projects until they come into operation. As per the report, the projects will have an estimated peak capacity of 170 MW and 192 MW, respectively, with a total annual production of 412 GWh. The two new solar projects are expected to power energy-intensive industries and help them decarbonise their...
LME aluminium opened at US$2,378 per tonne on Tuesday, with its high and low at US$2,380 per tonne and US$2,340 per tonne, respectively, before closing at US$2,345 per tonne, a decrease of US$33 per tonne or 1.39 per cent. On November 8, Tuesday LME aluminium cash bid price went up the graph by US$35 per tonne or 1.53 per cent to halt at US$2,326.50 per tonne, and the LME aluminium official settlement price also had a similar percentage hike resting at US$2,327 per tonne. The 3-month bid price and the 3-month offer price both escalated by US$37.50 per tonne or 1.63 per cent to close at US$2,338.50 per tonne and US$2,339.50 per tonne. December 23 bid price and December 23 offer price, on the other hand, recorded a rise of US$37 per tonne or 1.56 per cent, stopping at US$2,407 per tonne and...
