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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LME aluminium opened at US$2,249.5 per tonne on Thursday, with its high and low at US$2,271.5 per tonne and US$2,217.5 per tonne, respectively, before closing at US$2,260.5 per tonne, an increase of US$10.5 per tonne or 0.47 per cent. On Thursday, November 3, both LME aluminium cash bid price and LME aluminium official settlement price went down by US$11 per tonne or 0.49 per cent to stop at US$2,215.50 per tonne and US$2,216 per tonne. 3-month bid price and 3-month offer price inched up by US$2.5 per tonne or 0.11 per cent and US$3.5 per tonne or 0.15 per cent to record at US$2,240 per tonne and US$2,242 per tonne. December 23 bid price and December 23 offer price climbed up by US$3 per tonne or 0.12 per cent to settle at US$2,318 per tonne and US$2,323 per tonne. LME aluminium opening...
A00 aluminium ingot price has glided up by RMB 30 per tonne, closing at RMB 18,280 per tonne, as the Shanghai Metals Market recorded on Friday, November 4. The average prices are expected to range between RMB 18,260 per tonne and RMB 18,300 per tonne, with spot contracts trading at the premium price of 10 per tonne and 50 per tonne. The provinces in China have recorded escalating prices today, with the A00 aluminium ingot price rising the highest in Linyi by RMB 70 per tonne to stop at RMB 18,400 per tonne, followed by RMB 40 per tonne hike in Gongyi and Chongqing closing at RMB 18,410 per tonne and RMB 18,510 per tonne. The aluminium price in Wuxi has decked at RMB 18,290 per tonne with an escalation of RMB 30 per tonne, while in Hangzhou and Tianjin both, the aluminium prices had a...
On November 3rd, 2022, London-based Vedanta Resources, the holding company of India’s Vedanta Limited, discontinued the rating services of Moody’s after the latter lowered the company’s ratings on debt concerns. Commodity tycoon billionaire Anil Agarwal led Vedanta Limited, India's leading aluminium producer, and diversified to other natural resources. It is the most extensive mining and non-ferrous metals company in India and has mining operations in Australia and Zambia and oil and gas operations in three countries. According to a statement released on November 3rd, 2022, late evening India time, Vedanta said: “Vedanta Resources Limited hereby announces that it has today given notice to Moody’s Investor Services to discontinue its rating engagement and to withdraw all the outstanding...
Alcoa Corporation, the world’s eighth largest aluminium producer, won the Aluminum Industry Leadership award at the 10th annual Platts Global Metals Awards, which recognise and celebrate leadership, innovation, stewardship and commitment to a greener future. Kelly Thomas, Alcoa’s Executive Vice President and Chief Commercial Officer, accepted the award, the most respected and competitive in the metals sector. It recognises companies that shape the future of the metals industry. For the past five decades, the Global Metals Awards has recognised and honoured the best-of-the best in the metals industry, whether individual or company. The award acknowledges leadership across fifteen categories. The Aluminum Industry Leadership award recognises companies that produce and process aluminium...
A billet is one of the most widely used aluminium product forms globally. Billets can be produced immediately by continuous casting, extrusion, or hot rolling an ingot or bloom. On Thursday, November 3, aluminium billet inventories in China increased by 4,700 tonnes W-o-W, closing at 60,500 tonnes. Arrival times were delayed by slower transportation, and downstream consumers in east and south China were more cautious due to the epidemic. It is anticipated that the social inventory will grow modestly next week. The figure below provides further information on the current state of aluminium billet inventories in China: According to the SMM data, inventories in Wuxi and Huzhou ascended by 6,200 tonnes or 119.23 per cent and 1000 tonnes or 20 per cent to settle at 11,400 tonnes and 6,000...
On Thursday, November 3, A00 aluminium ingot price in China increased by RMB 270 per tonne to settle at RMB 18,250 per tonne, with the average prices standing between RMB 18,230 per tonne and RMB 18,270 per tonne. The spot contract price is expected to be traded at a premium price of RMB 0 to RMB 40 per tonne. The prices in Foshan and Wuxi have ascended by RMB 350 per tonne and RMB 290 per tonne to record at RMB 18,580 per tonne and RMB 18,260 per tonne. In Hangzhou and Chongqing, the prices climbed up by RMB 280 per tonne to stand at RMB 18,300 per tonne and RMB 18,470 per tonne. As per the SMM data, prices in both Gongyi and Tianjin have hiked by RMB 270 per tonne to stop at RMB 18,370 per tonne and RMB 18,300 per tonne. On the same day, Shenyang and Linyi settled at RMB 18,230 per...
Vedanta Limited has expanded its aluminium ingot and aluminium products prices, effective from Wednesday, November 2, soon after it cut the prices on the previous day. On November 1, the company reduced its aluminium ingot price by INR 2,750 per tonne to INR 210,250- 240,750 per tonne, following which it hiked the price by INR 5,250 per tonne on November 2 to INR 215,500- 246,000 per tonne. Vedanta’s aluminium billets price has been also been raised by INR 5,250 per tonne, with effect from November 2, to sell the product at INR 224,500 per tonne, after deducting INR 2,750 per tonne from the item on November 1 to INR 219,250 per tonne. Aluminium wire rod price is currently hovering around INR 223,000- 230,500 per tonne since November 2, seeing an increase of INR 5,250 per tonne. On...
LME aluminium opened at US$2,252.50 per tonne on Wednesday, with its high and low at US$2,276.50 per tonne and US$2,233 per tonne, respectively, before closing at US$2,250 per tonne, a drop of US$7 per tonne or 0.31 per cent. On November 2, Wednesday LME aluminium cash bid price plunged by US$18.50 per tonne or 0.82 per cent to halt at US$2,226.50 per tonne, and the LME aluminium official settlement price also shed the same percentage to rest at US$2,227 per tonne. The 3-month bid price dived down by US$16 per tonne or 0.71 per cent to close at US$2,237.50 per tonne, and the 3-month offer price slumped by US$15.50 per tonne or 0.69 per cent to close at US$2,238.50 per tonne. December 23 bid price and December 23 offer price both recorded an US$8 per tonne or 0.34 per cent fall, stopping...
In August 2022, the United States’ domestic primary aluminium production stood at 61,000 tonnes, falling further, although at a lower rate than the previous month, found the US Census Bureau data. The output in July fell by 14,000 tonnes M-o-M to come in at 64,000 tonnes, while that in August dipped by 3,000 tonnes. The production decline in August marks the third consecutive month-on-month fall since June 2022, whereby the output plunged by 6,000 tonnes or 7.14 per cent from 84,000 tonnes to 78,000 tonnes. On a year-on-year calculation, the production in August 2022 was 12,000 tonnes or 16.44 per cent less than 73,000 tonnes. The average daily production was 1,980 tonnes, which registered a decline of 4.35 per cent from 2,070 tonnes in July’22 and 16.11 per cent from 2,360 tonnes in...
The renowned Indian aluminium manufacturer Bharat Aluminium Company Limited (BALCO), a subsidiary of Vedanta Aluminium, has successfully executed test runs for biodiesel in smelting operations. In the pilot test, the company preheated ladles or vehicles that transport hot metal (aluminium) in its molten condition from plotlines to cast houses by fuelling them with biodiesel. A potline is a long building or group of buildings that are part of a smelter and houses many pots, or huge electrolytic cells, where aluminium is melted. The preheating procedure is absolutely essential for the ladle to be completely dry. This is crucial for preserving the metal's temperature and purity for transit to the casting facilities, where the molten aluminium is transformed into various finished goods....
Emirates Global Aluminium (EGA), the largest industrial organisation in the United Arab Emirates (UAE), excluding oil and gas, joined the First Movers Coalition to support cutting-edge clean solutions in challenging industries. The First Movers Coalition, which now has more than 50 significant companies from across the world as members, welcomed EGA as the first corporation with a headquarter in the UAE. The World Economic Forum and the US Office of the Special Presidential Envoy for Climate Change, chaired by John Kerry, are members of the First Movers Coalition. "As a UAE company, we are committed to the nation's Net Zero by 2050 Strategic Initiative. To decarbonise our aluminium, we have to reach net zero not just in our own operations but also our supply chain. Joining the First...
On Monday, October 31, a report from CRISIL showed a high possibility of Indian primary aluminium producers’ lower operating margin by more than 1200 basis points (bps) this financial year to 22-24 per cent, owing to decreased realisations and soaring production costs. Last fiscal year, primary aluminium producers experienced a record operating margin at a decade high of 36 per cent, backed by strong realisations for historically high global aluminium prices amid post-Covid economic recovery. This year, the operating margin is expected to downtrend to match past levels but be higher than the average of 17 per cent over FY2017-21, found CRISIL based on the analysis of three companies that account for the entire domestic capacity of 4.1 million tonnes. However, amid a dip in operating...
The Volta Aluminium Company (VALCO), a subsidiary of Kaiser Aluminium operating from Ghana, has halted its operations due to the ongoing dispute among workers for a salary bar adjusted with the dollar rate. The VALCO workers are now entitled to salaries in dollars but are paid in equation with the Ghanaian cedi currency. Since the cedi has recently lost its value compared to the dollar, the workers are hoping for reimbursement following the American currency chart. The argument the workers have put forth is straightforward and justified as most of them claim that their salaries are subsequently decreasing in value and they are not being paid what is due. Under the Integrated Aluminium Industry (IAI) in Ghana, VALCO has opened the market for intense development in both upstream and...
According to a report on Monday, October 31, South Africa’s Industrial Development Corporation (IDC), a national development finance institution, has expanded its shareholding in Mozambique’s Mozal Aluminium to 32.45 per cent. Earlier, IDC had a 24 per cent share in the hydropowered smelter, located 20 Km west of Maputo. Mozal dates back to 1998, formed by a partnership between IDC, BHP Billiton, now South32, Mitsubishi and the Mozambican government. The operation started in late 2000 and soon after underwent expansion plans to double its capacity. As the demand for aluminium is at an optimum level to achieve a low-carbon future, metal companies are increasingly attracting investors’ interest. Last year, South32 acquired an additional 8.445 per cent share in Mozal, which increased its...
LME aluminium opened at US$2,227 per tonne Tuesday, with its high and low at US$2,275 per tonne and US$2,218 per tonne, respectively, before closing at US$2,257 per tonne, an increase of US$31.5 per tonne or 1.42 per cent. On Tuesday, November 1, both LME aluminium cash bid price and LME aluminium official settlement price ascended by US$49 per tonne or 2.23 per cent and US$48.5 per tonne or 2.20 per cent to close at US$2,245 per tonne and US$2,245.50 per tonne. 3-month bid price and 3-month offer price were hiked by US$48.5 per tonne or 2.19 per cent and US$47 per tonne or 2.12 per cent to score at US$2,253.50 per tonne and US$2,254 per tonne. December 23 bid price and December 23 offer price settled at US$2,323 per tonne and US$2,328 per tonne after witnessing a growth of US$43 per...
A00 aluminium ingot price has dipped by RMB 60 per tonne, halting at RMB 17,980 per tonne, as the Shanghai Metals Market recorded on Wednesday, November 2. The average prices are expected to range between RMB 17,960 per tonne and RMB 18,000 per tonne, with spot contracts trading at the discount price of RMB 10 per tonne and premium price of 30 per tonne. The provinces in China have recorded fluctuating prices today, with the A00 aluminium ingot prices escalating in Wuxi and Hangzhou by RMB 190 per tonne to stop at RMB 18,050 per tonne and RMB 18,100 per tonne, followed by RMB 30 per tonne hike in Linyi closing at RMB 18,100 per tonne as well. All the other provinces in China witnessed falling aluminium prices; like in Shenyang, the aluminium ingot price shed RMB 70 per tonne to halt at...
Press Metal Aluminium Holdings Bhd is estimated to mark an exponential double-digit net profit in the Financial Year 2022 (FY22). Though aluminium spot prices have declined, there is a sufficient hike in carbon anode prices which will increase operational costs. There is a projected growth of 50 per cent on a year-on-year basis (y-o-y) in FY22 for the biggest aluminium smelter in South-East Asia, even though the Hong Leong Investment Bank (HLIB) Research predicted a quarter-on-quarter (q-o-q) downfall in net profit for the third quarter of FY22 (3Q22). For the financial year 2023 (FY23), the HLIB claims that the net profit for Press Metal would have a restrained growth of 41 per cent y-o-y. The enormous y-o-y growth for FY22 and FY23 has been calculated keeping in mind the stocks from its...
Emirates Global Aluminium, the world's largest producer of 'premium aluminium', with smelters in Abu Dhabi and Dubai, welcomed His Excellency Sameh Al Qubaisi, Director General of Economic Affairs at the Abu Dhabi Department of Economic Development (ADDED) to the business's Al Taweelah site. His Excellency and other delegates from ADDED were welcomed by Abdulla Kalban, the managing director of EGA, and Abdulnasser Bin Kalban, the chief executive officer of EGA. The group received a briefing on EGA's industrial operations in Abu Dhabi and its efforts to further localise the company's supply chain and enhance Emiratization. "It was a pleasure to welcome His Excellency and his delegation from the Abu Dhabi Department of Economic Development to Al Taweelah, which is amongst the largest...
