Vedanta Aluminium Metal has appointed Abhinav Gupta as Chief Financial Officer (CFO), Jharsuguda, effective July 2026, adding a finance executive with more than two decades of experience across Vedanta and Hindustan Zinc to the Odisha operation. Gupta joins Vedanta Aluminium from Vedanta Sesa Goa Iron Ore, where he served as Deputy CFO for the Iron Ore Business from December 2021 to June 2026. In his new position, Gupta will oversee the Jharsuguda unit’s financial strategy and business planning, along with cash flow, working capital, capital allocation, cost management, risk management, compliance, and governance. Explore the production, demand and consumption forecasts of bauxite and alumina in our report: "Global Bauxite & Alumina Market Forecast to 2036: Supply–Demand, Trade Flows &...
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...
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On Wednesday, November 9, A00 aluminium ingot price in China hiked by RMB 140 per tonne to settle at RMB 18,610 per tonne, with the average prices ranging between RMB 18,590 per tonne and RMB 18,630 per tonne. The spot contract price is expected to be traded at a discount price of RMB 20 to a premium price of RMB 20 per tonne. The prices in Tianjin and Shenyang have increased by RMB 170 per tonne and RMB 150 per tonne to score at RMB 18,590 per tonne and RMB 18,550 per tonne. As per the SMM data, A00 aluminium ingot price in Foshan, Wuxi and Hangzhou has gone up by RMB 140 per tonne to stand at RMB 18,820 per tonne, RMB 18,590 per tonne and RMB 18,650 per tonne. Chongqing and Linyi's prices closed at RMB 18,770 per tonne and RMB 18,660 per tonne after recording a growth of RMB 120 per...
According to a recent report, South32 has temporarily stopped its potline at Mozal aluminium smelter in Mozambique after an accident on Monday, November 7, caused two deaths and one injury of a contractor. The news came after South32 reported: “Reduction operations in Potroom A at Mozal have been suspended and an investigation into the incident is underway.” It added, “Learnings will be shared across South32 to understand how we can prevent a similar incident occurring again in the future.” The contractor is undergoing treatment for his injuries, said South32 without giving any further details on the nature of the accident. In addition to the tragic loss of life, the accident has caused an interruption to aluminium production, which is unacceptable to South32 as its aluminium sales in the...
A00 aluminium ingot price has augmented by RMB 120 per tonne, closing at RMB 18,470 per tonne, as the Shanghai Metals Market recorded on Friday, November 4. The average prices are expected to range between RMB 18,450 per tonne and RMB 18,490 per tonne, with spot contracts trading at the premium price of 30 per tonne and a discount price of 10 per tonne. The provinces in China have recorded escalating prices today, with the A00 aluminium ingot prices rising the highest in Hangzhou and Linyi by RMB 120 per tonne to stop at RMB 18,510 per tonne and RMB 18,550 per tonne, followed by RMB 110 per tonne hike in Wuxi with the aluminium price closing at RMB 18,450 per tonne. The aluminium prices in Chongqing, Shenyang and Tianjin have all gained RMB 100 per tonne to settle at RMB 18,650 per tonne,...
On Monday, November 7, Century Aluminum Company, a US-based primary aluminium producer, announced its third quarter results ended September 30, 2022, whereby it declared its net income growing $6.9 million sequentially to $44.3 million. In Q2, the company yielded a net income of $37.4 million. Diluted earnings per share was $0.43 in the third quarter compared to $0.36 in Q2. Although the company’s net income rose in Q3, net sales decreased by 25.61 per cent quarter-on-quarter from $856.6 million to $637.2 million, driven by lower shipments. Century Aluminum reported that its shipments in Q3 fell sequentially by 40,359 tonnes from 214,084 tonnes to 173,725 tonnes. The company’s adjusted EBITDA also fell from $86.6 million in the June quarter to $35.9 million in the September quarter,...
LME aluminium opened at US$2,335 per tonne on Monday, with its high and low at US$2,342.5 per tonne and US$2,333 per tonne, respectively, before closing at US$2,339 per tonne, an increase of US$4 per tonne or 0.17 per cent. On Monday, November 7, both LME aluminium cash bid price and LME aluminium official settlement price closed at US$2,291.50 per tonne and US$2,292 per tonne, after witnessing a loss of US$13.5 per tonne or 0.58 per cent and US$14 per tonne or 0.60 per cent. 3-month bid price and 3-month offer price slipped by US$15 per tonne or 0.64 per cent and US$16 per tonne or 0.69 per cent to peg at US$2,301 per tonne and US$2,302 per tonne. December 23 bid price and December 23 offer price settled at US$2,370 per tonne and US$2,375 per tonne after recording a fall of US$20 per...
The logistics firm specializing in Full Truck Load (FTL) services, Orissa Bengal Carrier (OBCL), which has served satisfactorily in the past decade, has inked a contract with mining and metal giant Vedanta to transport finished aluminium items. On November 3rd, 2022, OBCL stated, "The agreement is worth approximately $18 million (INR 150 crore), with a one-year term." "As a part of the agreement, OBCL would transport finished aluminium items to western business clusters." The leading aluminium producer of India, Vedanta, operates aluminium smelters in Chhattisgarh and Odisha. The founding stone of Odisha-Bengal Carrier Limited (OBCL) was laid down in 1994 by Ratan Kumar Agrawal. In the past decade, OBCL has evolved as the signature brand of the Indian transport industry, and it has played...
Social inventories of primary aluminium in China have further lost 9,000 tonnes over the weekend ended November 7, 2022, across eight major consumption areas, including SHFE warrants, found the Shanghai Metals Market. Thus, the inventories froze at 571,000 tonnes as of November 7, down by 42,000 tonnes week-on-week from 613,000 tonnes. The current inventory is a new low in 2022, driven by pandemic-induced transportation restrictions in China. To know the status of inventory in more details, refer the chart below: The decline in Chinese primary aluminium inventories to a new low over the weekend was primarily contributed by Wuxi and south China, though the downfall in the latter slowed due to weakening trades. In Wuxi, inventories plunged by 13,000 tonnes on Monday to stand at 171,000...
On November 7, Emirates Global Aluminium, the biggest industrial company in the United Arab Emirates excluding oil and gas, introduced EGA Ramp-Up, an initiative with the focus on funding the next generation of entrepreneurs whose enterprises will help in a steady growth of the economy and generate new open work positions. EGA Ramp-Up will deliver practical aid and tuition to the entrepreneurs setting up businesses that heavily solidify the region's sustainability and social advancement quotient, along with encouraging new technology and immense human capital development. To achieve 100 per cent accountability through the process, EGA has collaborated with C3 to streamline the initiative. A UAE-based social organisation, C3 mainly lends a helping hand to entrepreneurs across the region to...
According to a report last week, Hydro signed a new strategic collaboration agreement with the Norwegian University of Science and Technology (NTNU) to build up professional collaborations to practise more R&D on aluminium and energy. The agreement was signed by Hydro’s President& CEO Hilde Merete Aasheim and NRNU’s chief academic and administrative officer Anne Borg, in the presence of key Hydro technologists, NTNU professors and SINTEF researchers in Trondheim. According to Aasheim, “Hydro and NTNU both recognize the importance of ensuring long-term sustainability in accordance with the United Nations’ sustainability goals and wish to promote collaboration to enable this. We both have the shared intention to strengthen, explore and increase the cooperation in connection with Hydro's...
National Aluminium Company Limited has hiked its aluminium ingot price, with effect from November 1, following a trim in the previous week. The company is currently selling its ingot at INR 217,050-220,550 per tonne, up by INR 6,600 per tonne or 3 per cent from INR 210,450-213,950 per tonne on October 26. Among the company’s aluminium products prices, its billets price has also seen an increase of INR 6,600 per tonne, with effect from November 1, to stand at INR 221,500-224,150 per tonne versus INR 214,900-217,550 per tonne in the earlier week. However, NALCO’s aluminium wire rod price has shown an exception by gaining INR 1,000 per tonne more than ingot and billets. The price is ranging between INR 221,550-225,900 per tonne, up by INR 7,600 per tonne or 3.5 per cent from INR...
LME aluminium opened at US$2,359.5 per tonne last Friday, with its high and low at US$2,360 per tonne and US$2,344 per tonne, respectively, before closing at US$2,350 per tonne, a drop of US$9.5 per tonne or 0.4 per cent. On November 4, Friday LME aluminium cash bid price augmented by US$89.50 per tonne or 4.04 per cent to halt at US$2,305 per tonne, and the LME aluminium official settlement price also had a spike of US$90 per tonne or 4.06 per cent to rest at US$2,306 per tonne. The 3-month bid price escalated by US$76 per tonne or 3.39 per cent to close at US$2,316 per tonne, and the 3-month offer price went up the same amount to close the week at US$2,318 per tonne. December 23 bid price and December 23 offer price both recorded a US$72 per tonne or 3.1 per cent hike, stopping at...
On Monday, November 7, A00 aluminium ingot price in China opened the week with a growth of RMB 70 per tonne to close at RMB 18,350 per tonne, with the average prices ranging between RMB 18,330 per tonne and RMB 18,370 per tonne. The spot contract price is expected to be traded at a premium price of RMB 10 to RMB 50 per tonne. The price in Hangzhou went up by RMB 60 per tonne to peg at RMB 18,390 per tonne, followed by a growth of RMB 50 per tonne in Wuxi and Shenyang to close at RMB 18,340 per tonne and RMB 18,300 per tonne. In Chongqing, the A00 aluminium ingot price increased by RMB 40 per tonne to stand at RMB 18,550 per tonne, whereas in Linyi and Gongyi, the prices expanded by RMB 30 per tonne and RMB 20 per tonne to reside at RMB 18,430 per tonne, respectively. In Foshan, the price...
The Chairman of the Board of Directors of Aluminium Bahrain B.S.C. (Alba), Shaikh Daij bin Salman bin Daij Al Khalifa, met with Bechtel’s President of Mining & Metals Global Business Unit Ailie MacAdam, Bechtel’s President of Europe, Africa, and Middle East Region Justin Siberell and Bechtel’ Regional Manager Mark Ashwin on the side of Gulf Aluminium Council Dinner at Ritz Carlton, Bahrain along with Alba’s CEO Ali Al Baqali to discuss areas of cooperation including the proposed line 7 project. While speaking on the importance of the proposed line 7, the Chairman of Alba’s Board of Directors, Shaikh Daij bin Salman bin Daij Al Khalifa stated: “Aluminium is the metal of the future, and we are here to continue making it available through our soon-to-be investment in Line 7.” "Moving ahead...
This week, the global primary aluminium industry witnessed many important events. Like, Volta Aluminium Company (VALCO) halted operations due to the ongoing labour disputes over a wage bar to BALCO successfully carrying out test runs using biodiesel in smelting operations. In the pilot test, the business used biodiesel to heat ladles or vehicles that move hot metal (aluminium) from plotlines to casting houses while still molten. Based on the CRISIL research, the operating margin for Indian primary aluminium producers is expected to fall by more than 1200 basis points (bps) to 22–24% this fiscal year due to reduced realisations and rising production costs. In the Financial Year 2022, Press Metal Aluminium Holdings Bhd is anticipated to have an exponential double-digit net profit (FY22)....
According to the Shanghai Metals Market, social inventories of primary aluminium continued to decline week-on-week by 41,000 tonnes, ended November 3, 2022. The stocks plunged across eight major consumption areas across China, including SHFE warrants, to total 580,000 tonnes, down by 33,000 tonnes from Monday. On a month-on-month basis, the inventories on Thursday edged 93,000 tonnes lower, while that on a year-on-year basis stood 433,000 tonnes down. Transportation restrictions due to pandemic resulted in fewer arrivals in the market, leading to inventory downfall to the lowest this year. However, the transportation in Gongyi and Henan provinces has begun to resume from October 31, which is expected to alleviate supply tightness from the next week, allowing cargoes to arrive. To know the...
Emirates Global Aluminium, the biggest industrial enterprise in the United Arab Emirates, excluding the oil and gas sectors, has bagged the platinum UAE Innovation Award from Dubai Quality Group, a UAE-based training and knowledge-sharing global hub. The UAE Innovation Awards ceremony is chaired by the President of Dubai Civil Aviation Authority, the Chairman and Chief Executive of Emirates Airline and Group, the Chairman of Dubai Airports and His Highness Sheikh Ahmed bin Saeed Al Maktoum himself. EGA was the recipient of the UAE Innovation Award for a successful leap toward innovation and improvement by relentlessly monitoring the global competitive market along with excelling in its advancements. Abdulnasser Bin Kalban, Chief Executive Officer of EGA, said: “We are honoured to be...
Hindalco Industries Limited slightly reduced its aluminium ingot and aluminium products prices on November 3, a day after it hiked the prices by INR 5,250 per tonne. On November 3, Hindalco’s aluminium ingot price saw a dip of INR 1,500 per tonne from INR 213,250 per tonne to INR 211,750 per tonne. Aluminium wire rod price was also cut by INR 1,500 per tonne or 0.67 per cent to be sold at INR 222,850 per tonne on November 3 versus INR 224,350 per tonne on November 2. Hindalco’s aluminium billets price is standing at INR 225,850 per tonne since November 3, also down by INR 1,500 per tonne from INR 227,350 per tonne on the previous day. Hindalco Industries Limited links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange....
Climate change is one of the most challenging situations to tackle, especially for the workers who work under hot conditions; ensuring a safe and sound environment under such a situation is really important. With this, Emirates Global Aluminium (EGA), one of the world's largest producers of 'premium aluminium' announced on Monday, October 31, that the company had reached its goal of recording zero incidents of heat-related sickness among its staff and subcontractors who worked outside this summer. The "Beat the Heat" initiative at EGA is a summer-long, intensive effort throughout the business. Employees are taught the early warning signals of heat stress in themselves and other people. They are required to perform hydration tests before and during their shifts and are also urged to take...
