Vietnam’s first electrolytic aluminium project has reached another major milestone, with the second phase of the 450,000-tonne-per-year (tpa) Da Nong project producing its first batch of molten primary aluminium on October 31, 2026. The milestone, achieved by China Nonferrous Metal Industry’s Foreign Engineering and Construction Co., Ltd. (NFC), which is the project’s general contractor, came four months and three days ahead of the contractual schedule, officially moving the second phase from construction to trial production. The latest development builds on the progress made during the first phase, which produced its first batch of molten primary aluminium on July 14. By September 15, all electrolytic cells in the first phase had successfully started producing aluminium. The second...
The London Metal Exchange (LME) aluminium price graph dipped across the pricing and contract segments on the November 2 trading session, reporting declines over the October 30 close . The Asian Reference Price and alumina Platts price, on the other hand, reported nearly 1 per cent gains. The LME aluminium cash bid price dipped by 0.63 per cent from USD 3,113.5 per tonne to USD 3,094 per tonne. The offer price moved from USD 3,114 per tonne to USD 3,095 per tonne, down 0.61 per cent day-on-day. Explore: Most comprehensive and forward-looking industry-focused report — Global Bauxite & Alumina Market Forecast to 2036: Supply–Demand, Trade Flows & Price Outlook The LME aluminium three-month bid advanced from USD 3,078 per tonne from USD 3,059.5 per tonne, decreasing by 0.6 per cent. The offer...
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According to the International Aluminium Institute data, world primary aluminium production in January 2022 stood at 5.513 million tonnes, 0.36 per cent less than 5.533 million tonnes a month ago. However, the output in December was 2.10 per cent higher month-on-month from 5.419 million tonnes. On a year-on-year calculation, world aluminium production in January 2022 recorded a decline of 4.45 per cent from 5.770 million tonnes. China, the world’s leading primary aluminium producer, churned out 3.1 million tonnes of primary aluminium in January 2022, down by 0.29 per cent from 3.109 million tonnes in December 2021 and 7.82 per cent less than 3.363 million tonnes in January 2021. In the entire year of 2021, China’s primary aluminium production totalled 38.837 million tonnes. In the Gulf...
Hindalco Industries Limited has slashed its aluminium ingot and aluminium products prices, with effect from Thursday, February 24, following a significant increase on February 23. As per the pricing published by Hindalco, the company’s aluminium ingot price has come in at INR 283,500 per tonne, down by INR 8,750 per tonne or 3 per cent from INR 292,250 per tonne. Hindalco’s aluminium wire rod price has also experienced a cut of INR 8,750 per tonne on February 24 from INR 303,350 per tonne to INR 294,600 per tonne. Aluminium billets price is standing at INR 297,600 per tonne versus INR 306,350 per tonne. Hindalco links its aluminium ingot and aluminium products prices to the three-month future of aluminium on the London Metal Exchange, which shrank by US$96.50 per tonne on February 23 to...
A catastrophic scarcity of aluminium in Europe has caused regional prices to skyrocket, presenting chances for commodity traders who have pounced on once-in-a-lifetime opportunity to profit by exporting metal from warehouses 6,000 miles away. According to two persons aware of the cargoes, some significant trading firms have lately loaded aluminium from Malaysia's Port Klang into break-bulk boats bound for Europe. It's a trade that would normally be extremely unprofitable, but the high expenses are mitigated by the higher prices that European purchasers are prepared to pay for metal. Another indicator that European customers are running out of one of the world's most commonly used industrial commodities is the unique trade flow. Stockpiles throughout the world have declined considerably,...
Three-month LME aluminium opened at US$3,305 per tonne on Wednesday morning in European trading hours, and lost US$9 per tonne or 0.27% to close at US$3,294 per tonne. On Wednesday, February 23, LME aluminium cash bid price slipped by US$96 per tonne or 2.80% to peg at US$3,323 per tonne. For the same day, LME aluminium official settlement price also dipped by US$96.5 per tonne or 2.82% to register at US$3,323.50 per tonne. 3-month bid price and 3-month offer price settled at US$3,288 per tonne and US$3,290 per tonne. December 23 bid price and December 23 offer price stood at US$2,975 per tonne and US$2,980 per tonne. LME aluminium opening stock scored at 833900 tonnes. Live warrants and Cancelled warrants recorded at 570525 tonnes and 263375 tonnes. LME aluminium 3-month Asian Reference...
The distressed metal tycoon, Sanjeev Gupta's GFG Alliance owned UK's last aluminium smelter has stated that investment plans for the Lochaber-based factory are on track, despite concerns that they have failed to publish accounts for their Highlands firms. As it concludes accounting for Alvance British Aluminium and its power plant, Simec Lochaber Hydropower, GFG Alliance, which bought the 90-year-old smelter and its hydropower facility from mining and metal giant Rio Tinto in a whopping £330 million transaction in 2016, risks fines. Alvance is about 11 months late reporting its accounts for the year ending March 2020, according to Companies House data, while the group is more than six months late filing for different corporate entities linked with the hydropower sector. Companies are...
On 22 nd February 2022, the Norwegian aluminium giant, Norsk Hydro has announced that it has picked up a minority stakeholding in the US carbon capture firm Verdox for $20 million and projects to utilize its technology at aluminium smelters in a drive to down emissions. The leading aluminium producer, Hydro however announced that plans in 2021 to axe its carbon dioxide (CO2) emissions by 30% during this decade, which will navigate the company to attain net-zero by 2050 at the latest, in compliance with the 2015 Paris climate agreement delineated to restrict global warming. Eivind Kallevik, the Head of Hydro’s Aluminium Production Division said, “More and more customers are requesting metals produced with a smaller carbon footprint. The ultimate goal here is to deliver zero emissions from...
The largest renewable energy of New Zealand, Meridian Energy’s Chief Executive Officer, Neal Barclay has unbolted the door to negotiations, which might drive Rio Tinto’s Tiwai Point aluminium smelter to remain functional for at least another 12 years considering 2034. On 23 rd February 2022, while reporting the company’s interim results, Neal Barclay said, “Meridian was still working on the assumption it would stop supplying power to the aluminium smelter (NZAS) when its current contract came to an end in December 2024.” He further added, “There were no current discussions with the smelter on a new electricity contract.” However, speaking to an analyst during a conference call, he firmly unlatched the doors for discussions, saying “Meridian was certainly not averse to having discussions....
Three-month LME aluminium opened at US$3,285 per tonne on Tuesday morning, and gained US$13 per tonne or 0.4% to close at US$3,303 per tonne. On Tuesday, February 22, LME aluminium cash bid price had escalated by US$106 per tonne or by 3.19% to settle at US$3,419 per tonne. LME aluminium official settlement price also soared up by US$105 per tonne or by 3.16% to total at US$3,420 per tonne. Aluminium prices have been increasing steadily due to three main reasons. First is that energy costs have been rising, the second is that there is a bit of a shortfall due to decreasing Chinese output, and the third is that there has been some worry due to the developing tensions between Russia and Ukraine. 3-month bid price and 3-month offer price registered at US$3, 366 per tonne and US$3,366.50 per...
Sanjeev Gupta's GFG Alliance metals empire has filed a last-ditch bid in London's high court to recapture a coveted aluminium smelter in northern France from a US private equity firm. Two GFG Alliance firms have launched a lawsuit against a fund owned by American Industrial Partners (AIP), which has been operating the smelter in Dunkerque since October after receiving government licence. The allegation is based on a complicated set of loan arrangements, but GFG's court documents imply that the action might lead to more examination of Gupta's business. According to court records, AIP claimed in September that it was unable to receive payments from GFG relating to the loans because of an accusation that GFG entities had infringed Romanian law. The complicated dispute over the smelter's...
Norsk Hydro, a Norwegian aluminium producer, posted record quarterly and yearly earnings on Tuesday, owing to a boom in global commodity prices, and indicated its dividend payout for 2021 will more than quadruple. In the October-December quarter, adjusted profits before interest, taxes, depreciation, and amortisation (EBITDA) increased to 9 billion Norwegian crowns ($1 billion), up from 3.4 billion the year before. Analysts had expecting 9.31 billion. Global supply-chain bottlenecks, rising energy prices, and inflationary threats are all sources of concern for the organisation. "There is an increasing uncertainty about the outlook," said Hydro. Hydro's board suggested a 5.4 crown annual dividend, with 2.0 crowns designated as an exceptional distribution, although analysts had projected a...
In Hong Kong, shares of United Co. Rusal International fell as much as 22% as investors watched the dramatic escalation in the West's standoff with Moscow over Ukraine. This is the greatest drop since April 2018, when Rusal was struck by an earlier wave of US sanctions in response to what the US Treasury at the time referred to as Russia's "malign behaviour throughout the world." The Ukraine situation heightens the dangers for the world's largest aluminium production, as worries grow that escalating tensions or additional fighting in Ukraine could impede trade and lead to further sanctions against Russian firms. The US government has stated that fresh measures would be announced on Tuesday; however it is unclear what those sanctions will be. As the currency plummeted and oil rose, Rusal...
LME aluminium opened at US$3,265.5 per tonne on Monday and closed at US$3,290 per tonne, an increase of US$23.5 per tonne or 0.72%. On Monday, February 21, LME aluminium cash bid price remained the same as Friday, February 18, to close at US$3,313 per tonne. But, LME aluminium official settlement price inched up by US$1 per tonne or 0.03% to peg at US$3,315 per tonne. 3-month bid price and 3-month offer price scored at US$3,269 per tonne and US$3,270 per tonne. December 23 bid price and December 23 offer price registered at US$2,938 per tonne and US$2,943 per tonne. LME aluminium opening stock closed at 843475 tonnes. Live warrants and Cancelled warrants for the same day settled at 541300 tonnes and 302175 tonnes. LME aluminium 3-month Asian Reference Price totalled at US$3,254.68 per...
LME aluminium opened at US$3,257 per tonne last Friday and closed at US$3,266.5 per tonne, an increase of US$8 per tonne or 0.25%. On Friday, February 18, LME aluminium cash bid price surged by US$21 per tonne or 0.63% to close at US$3,313 per tonne. On other hand, LME aluminium official settlement price also soared up by US$20 per tonne or by 0.60% to peg at US$3,314 per tonne, for the same day. 3-month bid price and 3-month offer price recorded at US$3,263 per tonne and US$3,265 per tonne, for the same day. December 23 bid price and December 23 offer price scored at US$2,917 per tonne and US$2,922 per tonne. LME aluminium opening stock settled at 849275 tonnes. Live warrants and Cancelled warrants for the same day also came in at 849275 tonnes and 282975 tonnes. LME aluminium 3-month...
On 21 st February 2022, the global mineral and metal giant Rio Tinto signed a new partnership agreement with Tasmanian State Government at the Bell Bay Aluminium smelter towards working together to ensure a strong and sustainable future economy for George Town, the Tamar Valley region and Tasmania. The new partnership will endeavour to propel the economic growth and employment outcomes in the State and support the Tasmanian Government’s target of doubling renewable electricity generation by 2040. The Memorandum of Understanding (MOU) states that the Tasmanian Government and Rio Tinto will jointly investigate in regards to the smelter’s manufacturing capability and electricity demand that can support the development of new industries and more renewable energy supply in the region. Rio...
The oldest communist party of the country, Communist Party of India’s (CPI) general secretary D Raja has delivered a written statement to Prime Minister of India, Narendra Modi appealing him to repeal the Govt. of India’s decision towards privatisation of state-owned integrated aluminium company NALCO. D Raja’s letter quoted, “There is widespread resentment among the workers to the move. We request you to roll back your government's move to privatise the National Aluminium Company Ltd (NALCO). We vehemently oppose the disastrous plan of your government to implement 100% strategic disinvestment in the National Aluminium Company Ltd by way of privatisation.” “NALCO, established in 1981, is a Navaratna company under the Ministry of Mines and has been the topmost Central Public Sector...
The global aluminium giant, Norsk Hydro has reported that one of the four production lines at its part-owned aluminium smelter in Brazil, Albras was shut down on the morning of 19 th February 2022 due to an internal power distribution failure. The power distribution failure appeared within one potline at Albras, which accordingly lead to a shutdown of the affected potline. The potline impacted by the power disruption produces 110,000 tonnes of liquid aluminium annually. However, the other three potlines at Albras were not affected and are functioning normally. Albras Alumínio Brasileiro S.A., the second-largest aluminium producer in Brazil further stated, “It remains too early to assess financial implications from the incident, as well as timing for restart. Albras will investigate the...
The primary aluminium segment of the global aluminium industry has remained quite eventful this week. LME aluminium cash bid price spiked by US$12 per tonne or 0.36% to close at US$3,292 per tonne on 17 th February 2022. India’s NALCO aluminium ingot price has seen a surge of INR 5,400 per tonne to range between INR 280,450-283,950 per tonne. The diversified mining company, South32 booked pretax profit for the six months to December 21, from pursuing operations of $1.46 billion, soaring from just $155 million from the previous year. The CEO of Ghana Integrated Aluminium Development Corporation (GIADEC) stated there has been a significant rise in demand and price of aluminium on the world market. According to the Shanghai Metals Market, China’s aluminium production in January (31 days)...
ALVANCE British Aluminium, a global integrated aluminium business and the international aluminium division of the GFG Alliance, has reportedly received ASI Performance Standard certification with Provisional status for its smelting and casting operation at Lochaber, Scotland. The news came after Aluminium Stewardship Initiative (ASI) announced that it certified ALVANCE for responsible production, sourcing, and stewardship of aluminium. Aluminium slab products manufactured at ALVANCE Lochaber smelter are destined for multiple downstream sectors in the United Kingdom and Europe. The products have a low carbon footprint as the plant is powered by hydroelectricity. The smelting operations at Lochaber have an annual capacity of 50,000 tonnes of primary aluminium. Upon receiving the...
