The USD 4 billion Oklahoma aluminium smelter project planned by Emirates Global Aluminium (EGA) and Century Aluminum is facing a new hurdle in Inola, where the city council has extended a moratorium on smelter permits and called a referendum on the proposed facility. The 750,000-tonne-per-year aluminium smelter, announced in January, is expected to more than double current US primary aluminium production and would be the first new primary aluminium smelter in the country in almost 50 years. It would also become the largest source of primary aluminium in the Western Hemisphere. The project has taken on added importance as the US imports roughly 60 per cent of the primary aluminium it uses. Aluminium is essential to transportation, defence, aerospace and electrical infrastructure, making...
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 &...
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As a result of a geopolitical crisis between Ukraine and Russia, Russia has been subjected to numerous EU restrictions since February 2022. Our source from Europe unveiled that during the nine months of the crisis, the government in the Hague issued 91 decisions exempting individual entities from sanctions. There is often a benefit to more than one company from every decision made. Dutch ministries carry out the lifting of sanctions. 34 Russian ships carrying aluminium, among other things, were allowed to dock at Dutch ports by the Ministry of Infrastructure and Water Resources. A total of 25 permits were issued by the Ministry of Economy and Climate to Dutch firms working with former Gazprom companies owned by the German company SEFE Energy. Accordingly, the Ministry of Foreign Trade...
On Thursday, October 20, aluminium billet inventories in China witnessed a downfall for two consecutive weeks. As per the data, the inventories plunged by 25,700 tonnes or 26.33 per cent to close at 71,900 tonnes. All five of the major regions witnessed a decline. Due to smelters in Yunnan reducing their output, shipping from Yunnan to Guangdong decreased. Arrivals were unreliable because of logistical problems brought on by the epidemic. The arrivals will rebound, and the inventory will expand once the epidemic is controlled. The figure below provides further information on the current state of aluminium billet inventories in China: As per the data, inventory in Foshan dropped by 16,300 tonnes W-o-W to reside at 51,200 tonnes. On the same day in Wuxi, a drop of 4,800 tonnes or 45.28 per...
The Norwegian aluminium and renewable energy giant Norsk Hydro reported an adjusted EBIDTA of NOK9,721 million in 3Q2022, a growth of 34.65 per cent from NOK7,219 million recorded for the same period last year, resulting in a 12-month rolling Adjusted RoaCE of 27 per cent. Earnings were positively affected by higher all-in metal and alumina prices, CO2 compensation, and favourable currency effects but were partially offset by advanced upstream fixed and raw material costs. However, on a Q-o-Q calculation, Hydro's adjusted EBIDTA recorded a decline of 16.15 per cent from NOK11,594 million in 2Q2022. "Hydro is delivering strong financial results, while continuing to make good progress on our strategic agenda. This, combined with our long-term stable access to raw materials and energy, forms...
According to the International Aluminium Institute, Africa’s primary aluminium production stood at 136,000 tonnes in September 2022, registering a downfall of 3.55 per cent or 5,000 tonnes from 141,000 tonnes in August. However, on a year-on-year basis, the output edged 4,000 tonnes or 3.03 per cent higher than 132,000 tonnes. During the third quarter of the year, the consolidated output of primary aluminium in Africa summed at 416,000 tonnes, up by 2.72 per cent from 405,000 tonnes in Q2 2022 and 3.23 per cent more than 403,000 tonnes in Q3 2021. In the entire nine months of 2022, Africa’s primary aluminium production totalled 1.218 million tonnes versus 1.184 million tonnes during the same period last year. That reflected a year-on-year increase of 2.87 per cent. Africa’s daily average...
National Aluminium Company Limited (NALCO) has slightly cut its aluminium ingot and aluminium products prices compared to the previous slash last week, October 19. This week, Nalco has reduced its aluminium ingot price by only INR 1,400 per tonne or 0.7 per cent to INR 210,450-213,950 per tonne as of October 26. NALCO’s aluminium wire rod price has also seen a cut of INR 1,400 per tonne to stand at INR 213,950- 218,300 per tonne on October 26 versus INR 215,350-219,700 per tonne on October 19. Aluminium billets price is currently ranging between INR 214,900- 217,550 per tonne, with effect from October 26, as against INR 216,300-218,950 per tonne last week. Like other Indian aluminium giants, NALCO links its aluminium prices to the three-month futures of aluminium on the London Metal...
On October 24, 2022, Hilde Merete Aasheim, the President and CEO of the Norwegian aluminium producer Norsk Hydro called on the United States and the European Union to halt importing Russian aluminium onto their territories. According to the Hydro chief, around half of Europe's primary aluminium production has been cut down due to the soaring energy costs following the Ukraine-Russian geopolitical crisis, and adversely, Russian aluminium production remained unaffected. Russia's sole primary aluminium producer, Rusal, produces around 6% of the world's aluminium. However, this metal has not been targeted by Western sanctions against Russia following the border crisis with Ukraine. The CEO said, "We want to urge sanctions in Europe and the US. Our European industry shuts down, while ... we...
LME aluminium opened at US$2,180 per tonne on Tuesday, with its high and low at US$2,250 per tonne and US$2,156.5 per tonne, respectively, before closing at US$2,215 per tonne, an increase of US$38 per tonne or 1.75 per cent. On October 25, Tuesday LME aluminium cash bid price went up the graph by US$12 per tonne or 0.56 per cent to peg at US$2,170 per tonne, and the LME aluminium official settlement price also escalated by US$10.50 per tonne or 0.49 per cent to rest at US$2,170.50 per tonne. 3-month bid price increased by US$12 per tonne or 0.55 per cent to close at US$2,190 per tonne, followed by a 0.6 per cent or US$13 per tonne rise in the 3-month offer price, which stood at US$2,192 per tonne. December 23 bid price and December 23 offer price witnessed a US$10 per tonne or 0.44 per...
On Wednesday, October 26, A00 aluminium ingot price in China ascended by RMB 90 per tonne to settle at RMB 18,640 per tonne, with the average prices ranging between RMB 18,620 per tonne and RMB 18,660 per tonne. The spot contract price is expected to be traded at a discount price of RMB 20 per tonne to RMB 20 per tonne. The prices in Shenyang and Tianjin have hiked by RMB 140 per tonne and RMB 110 per tonne to settle at RMB 18,640 per tonne and RMB 18,690 per tonne. In Foshan, the A00 aluminium ingot price grew by RMB 100 per tonne to rest at RMB 18,800 per tonne. On the same day, the prices in Linyi and Wuxi climbed up by RMB 90 per tonne and RMB 80 per tonne to peg at RMB 18,640 per tonne and RMB 18,610 per tonne. As per the SMM data, both Gongyi and Chongqing experienced growth of RMB...
Social inventories of primary aluminium in China amounted to 626,000 tonnes across eight major consumption areas, including SHFE warrants, on Monday, October 24, according to the Shanghai Metals Market. SMM found the inventories decreased by 10,000 tonnes over the weekend but edged 6,000 tonnes higher than at the end of September. On a week-on-week basis, the inventories on October 24 were 38,000 tonnes lower than 664,000 tonnes. The continued downfall in inventories could be attributed to hindered transportation due to COVID restrictions. The Gongyi Railway Station in Henan province is currently in lockdown, with cargoes being banned from entering or leaving. The chart below indicates the current status of primary aluminium inventories across China in more details: In Gongyi and Nanhai,...
One of the biggest enterprises in Dubai serving the commodities market and providing mining, power and energy services, Dubal Holding has signed an initial deal with the investment corporation, Imdaad to develop projects aimed at boosting Dubai's sustainability objectives. The UAE is ready to invest Dh600 billion (US$163.5 billion) to enhance clean and renewable energy projects over the next thirty years with an endeavour to achieve net zero by 2050. Having an incredible budget of Dh74.5 billion (US$20.3 billion), the UAE has launched the Integrated Waste Management Strategy 2021-2041 this year. Around Dh70.5 billion would be yielded from the private sector only. Dubai has already introduced programmes to increase the country's recycling rate in order to meet emissions and sustainability...
A00 aluminium ingot price has downsized by RMB 100 per tonne to close at RMB 18,550 per tonne, as the Shanghai Metals Market recorded on Tuesday, October 25. The average prices are expected to range between RMB 18,530 per tonne and RMB 18,570 per tonne, with spot contracts trading at the discount price of RMB 40 per tonne. The provinces in China have witnessed decreasing prices today, with the A00 aluminium ingot price dropping the highest in Wuxi by RMB 120 per tonne to stop at RMB 18,530 per tonne, followed by RMB 110 per tonne de-escalation in Gongyi resting at RMB 18,520 per tonne. In provinces like Shenyang and Linyi, the aluminium prices stood at RMB 18,500 per tonne and RMB 18,550 per tonne, with a fall of RMB 100 per tonne. In Foshan, Hangzhou and Chongqing, the aluminium price...
Three-month LME aluminium opened at US$2,227.50 per tonne, with the highest and lowest prices at US$2,234.50 per tonne and US$2,170.50 per tonne before closing at US$2,177 per tonne, down US$41.50 per tonne or 1.87 per cent. On Monday, October 24, LME aluminium cash bid price and LME aluminium official settlement price inched up by US$3 per tonne and US$4.50 per tonne, respectively, to initiate the week at US$2,158 per tonne and US$2,160 per tonne. 3-month bid price and 3-month offer price settled at US$2,178 per tonne and US$2,179 per tonne, up by US$3.50 per tonne from the previous day. December 23 bid price and December 23 offer price increased by US$7 per tonne to peg at US$2,262 per tonne and US$2,267 per tonne as of October 24. LME aluminium opening stock slipped 475 tonnes to total...
On October 24, 2022, five European industry associations stated that they had urged European authorities to stave off sanctions, tariffs or boycotts against Russian aluminium. Otherwise, it might create a situation where thousands of companies would go out of business, and develop unemployment. The Russian aluminium giant, Rusal's output is considered to be around 6% of the total world's aluminium production. However, this aluminium company has not been earmarked by western sanctions against Russia following the geopolitical crisis with Ukraine. Conversely, the United States is considering restrictions on Russian aluminium imports. In contrast, the world's biggest metal trade hub, the London Metal Exchange (LME), is asking members if it should ban Russian metal from its system. Although...
The global resources company, SOUTH32, stated that sales of aluminium and manganese from its South African operations shrank in the first quarter of its 2023 financial year due to port congestion and reduced third-party rail availability. In comparison with the previous quarter, aluminium sales dipped 18% to 162,000 tonnes, while manganese sales narrowed by 8% to 473,000 tonnes. As a result of Covid-19 absenteeism, a lack of parts and equipment, as well as constant theft and sabotage by criminal gangs, South Africa's state-owned rail and port operator Transnet has struggled to maintain volumes. In the past, South32 has trucked manganese from its mines in the Northern Cape. In the event of a decline in manganese prices, this route may be less effective, and there may be more disruption to...
According to the National Bureau of Statistics, China’s primary aluminium production rose 9.3 per cent year-on-year in September 2022 to stand at 3.42 million tonnes, as smelters in a few major regions ramped up output after the ease of power restrictions. Last year, China saw a drop in aluminium production as several regions imposed power curbs on energy-intensive industries like aluminium production due to electricity shortages. Even smelting hubs like Yunnan and Inner Mongolia had to order restrictions to meet energy consumption targets. This year, despite a year-on-year increase, September output still dropped from the previous month by 2.5 per cent from 3.51 million tonnes, especially because Yunnan asked its aluminium producers to cut power usage from September 10 for indefinite...
According to the International Aluminium Institute’s latest data, world primary aluminium production in the third quarter of 2022 ended September 30 closed at 17.481 million tonnes, recording a quarter-on-quarter increase of 2.36 per cent. In Q2 ended June 30, global output stood at 17.078 million tonnes, up by 3.33 per cent from 16.527 million tonnes in Q1. As the data revealed, world primary aluminium production reflected a consistent growth in each quarter, bringing the total production in nine months of the year to 51.086 million tonnes, which also registered an improvement of 1.18 per cent from 50.492 million tonnes a year ago. However, world primary aluminium output in September 2022 edged 3.22 per cent lower month-on-month to 5.702 million tonnes compared to 5.892 million tonnes...
LME aluminium opened at US$2,218 per tonne last Friday, with its high and low at US$2,240.5 per tonne and US$2,165.5 per tonne, respectively, before closing at US$2,218.5 per tonne, an increase of US$1.5 per tonne or 0.07 per cent. On Friday, October 21, both LME aluminium cash bid price and LME aluminium official settlement price plunged by US$58.5 per tonne or 2.64 per cent to score at US$2,155 per tonne and US$2,155.50 per tonne. 3-month bid price and 3-month offer price declined by US$52.5 per tonne or 2.35 per cent to record at US$ 2,174.50 per tonne and US$2,175.50 per tonne. December 23 bid price and December 23 offer price slipped by US$52 per tonne to stop at US$2,255 per tonne and US$2,260 per tonne. LME aluminium opening stock halted at 570000 tonnes. Live warrants and...
The Singapore-incorporated multinational commodity trading company Trafigura, also acknowledged as the global leader in trading refined metals, including aluminium, has entered into a USD800 million five-year loan underwritten and arranged by Societe Generale and syndicated to seven participating banks. The loan is guaranteed by the government of the Federal Republic of Germany acting through the German Export Credit Agency (ECA) Euler Hermes Aktiengesellschaft. Germany's Untied Loan program supports Trafigura's commitment to delivering up to 500,000 tonnes of non-ferrous metals, including aluminium, to Germany over five years. The Untied Loan program ensures Germany's long-term access to strategic commodities. In exchange for offering cover on the financing, Trafigura has committed to a...
