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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On Tuesday, October 18, Switzerland-headquartered Anglo-Swiss multinational commodity trading and mining company Glencore shipped substantial volumes of Russian-origin aluminium to London Metal Exchange (LME) registered warehouses in Gwangyang, South Korea. As per the sources, the aluminium shipped to Gwangyang was made by the Russian aluminium giant Rusal. Deliveries into LME warehouses show the challenge confronting Rusal, the largest aluminium producer outside of China, as 2022 contracts expire and buyers steer clear of Russian metal for 2023 contracts, according to the sources. The price of aluminium increased by more than 7 per cent on Wednesday last week on news that the Biden administration was considering limiting imports of Russian aluminium as a possible response to Moscow's...
On Wednesday, October 19, the A00 aluminium ingot price in China ascended by RMB 80 per tonne to settle at RMB 18,390 per tonne, with the average prices ranging between RMB 18,370 per tonne and RMB 18,410 per tonne. The spot contract price is likely to be traded at a discount price of RMB 10 per tonne to a premium price of RMB 30 per tonne. The price in Gongyi has surged by RMB 150 per tonne to score at RMB 18,400 per tonne. In Foshan, the price increased by RMB 100 per tonne to halt at RMB 18,470 per tonne. The prices in Chongqing and Wuxi expanded by RMB 90 per tonne and RMB 80 per tonne to reside at RMB 18,510 per tonne and RMB 18,400 per tonne. As per the SMM data, both Hangzhou and Shenyang witnessed a growth of RMB 70 per tonne and RMB 30 per tonne to peg at RMB 18,420 per tonne and...
LME aluminium opened at US$2,245 per tonne on Tuesday, with its high and low at US$2,258 per tonne and US$2,178 per tonne, respectively, before closing at US$2,180 per tonne, a drop of US$64 per tonne or 2.85 per cent. Growing inventory and weak demand sent LME aluminium lower. On Tuesday, October 18, both LME aluminium cash bid price and LME aluminium official settlement price closed at US$2,200 per tonne and US$2,200.50 per tonne, after experiencing a cut of US$39 per tonne or 1.74 per cent and US$39.5 per tonne or 1.76 per tonne. 3-month bid price and 3-month offer price slumped by US$24 per tonne or 1.07 per cent to halt at US$2,216 per tonne and US$2,216.50 per tonne. December 23 bid price and December 23 offer price dipped by US$17 per tonne or 0.73 per cent to reside at US$2,300...
According to information provided by the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), production of aluminium ingot increased in Iran during the first half of the current Iranian calendar (March 21–September 22) by 23 per cent when compared to the same period in the previous year. As per the data from IMIDRO, 318,091 tonnes of aluminium ingot were produced in the first half of this year compared to 259,574 tonnes during the same period last year. The first half of the current year saw South Aluminum Corporation (SALCO), one of the nation's four major producers, perform best, producing 137,351 tonnes of aluminium ingots. Iranian Aluminum Company (IRALCO) produces 88,111 tonnes, and Almahdi Aluminum Company produces 74,543 tonnes. And Iran Alumina...
On Tuesday, October 18, China’s A00 aluminium ingot price dropped by RMB 190 per tonne to settle at RMB 18,310 per tonne, with the average prices ranging between RMB 18,290 per tonne and RMB 18,330 per tonne. The spot contract price is expected to be traded at a discount price of RMB 30 per tonne to a premium price of RMB 10 per tonne. The price in Shenyang has decreased by RMB 210 per tonne to rest at RMB 18,340 per tonne. On the same day, Chongqing and Tianjin closed at RMB 18,420 per tonne and RMB 18,360 per tonne after experiencing a price cut of RMB 190 per tonne. On the same day, prices in Foshan, Wuxi and Hangzhou dropped by RMB 170 per tonne to stand at RMB 18,370 per tonne, RMB 18,320 per tonne and RMB 18,350 per tonne. In Linyi and Gongyi, the prices dipped by RMB 150 per tonne...
The aluminium conglomerate in the Middle-east region, Emirates Global Aluminium (EGA), with interests in bauxite, alumina and primary aluminium smelting, has diagnosed millions of dirhams of annual procurement spending are accounted on imported goods, that the aluminium producer counts be manufactured domestically, thus contributing to the UAE's Operation 300bn industrial growth strategy and economic growth. Typical opportunities include general materials, industrial equipment, and spare parts commonly needed across industries but not currently manufactured in sufficient quantities or at all in the UAE. As part of Operation 300bn, the UAE's strategy to more than double the size of its industrial sector by 2031, EGA aims to localize its procurement of materials further. In 2021, EGA spent...
LME aluminium opened at US$2,301 per tonne on Monday and closed at US$2,214 per tonne, down US$46.5 per tonne or 2.03 per cent. On Monday, October 17, aluminium prices dropped due to large deliveries to warehouses approved by the London Metal Exchange (LME). Both LME aluminium cash bid price and LME aluminium official settlement prices plunged by US$69.5 per tonne or 3.01 per cent and US$69 per tonne or 2.98 per cent to rest at US$2,239 per tonne and US$2,240 per tonne. Russian aluminium has been shunned by consumers, fuelling worries that it may enter the LME system and affect pricing. Additionally, the premium for cash metal over the three-month contract has shrunk due to increased aluminium stockpiles. According to traders, increased aluminium inventories may be for deliveries against...
AZ Global Consulting will hold its new Online Global Aluminium Conference from 8 to 10 November 2022, sponsored by Tokai Cobex. This conference focuses on "how we can re-energize for our prosperous and sustainable future. Our sessions and panel discussions centred on green aluminium, sustainability, investment and growth opportunities. This conference will feature an A List of 50 speakers from around the world and across a wide array of industries. It is supported by the International Aluminium Institute, the Aluminium Stewardship Initiative, The Gulf Aluminium Council, The Japan Aluminium association and the Russian Aluminium Association. Attracting people from all over the world to discuss the global aluminium industry and its future, and following the virtual conference's huge success...
The market research and analysis wing of RHB Malaysia, RHB Research, states that Press Metal Aluminium Holdings Bhd is a vital proxy of sustainable low-carbon producing aluminium smelters. In a recent report to its clients, the research agency said, "This is amid the global decarbonization efforts in limiting coal-fired energy-supplied smelters and the current short supply in the industry." "We still like our sector's top pick, Press Metal, for its capacity-driven earnings upcycle with three-year forward earnings compounded annual growth rate (CAGR) of 26% from 2021. The group's proactive hedging policy should also provide some average selling price protection amid the softness in London Metal Exchange (LME) prices." According to the LME inventory report at the end of September, there...
LME aluminium opened at US$2,330 per tonne last Friday, with its intraday high and low at US$2,393 per tonne and US$2,287 per tonne, respectively, before closing at US$2,290 per tonne, a drop of US$61.5 per tonne or 2.61 per cent. The decline was caused by the growing LME aluminium inventory. On Friday, October 14, both LME aluminium cash bid price and LME aluminium official settlement price declined by US$65 per tonne or 2.73 per cent to settle at US$2,308.50 per tonne and US$2,309 per tonne. On the same day, 3-month bid price and 3-month offer price slumped by US$58 per tonne or 2.45 per cent and US$57.5 per tonne or 2.43 per cent to halt at US$2,302 per tonne and US$2,303 per tonne. On the other hand, December 23 bid price and December 23 offer price hiked by US$66 per tonne or 2.86...
The chairman of En+ Group, Christopher Burnham, stated that the article published by Bloomberg on 12th October 2022 on the US sanctions speculations was ‘irresponsible’. The group’s metal arm is the world’s leading producer of low-carbon aluminium (Rusal) and the most significant independent renewable energy generator. The En+ Group is a multinational organization with over 90,000 employees and 60 assets in 12 countries, including operations in Jamaica, Ghana, Guyana, Ireland, Italy, Germany, Sweden, Ukraine, and Russia. The Group provides aluminium and aluminium alloy to metal products-related companies, major automotive firms, and aerospace and construction organizations in more than 50 countries globally. The chairman commented, “The article is simply wrong. We remain in full...
The ongoing Russia-Ukraine crisis has changed a lot of things in the industry. From the domestic aluminium prices witnessing a hike over the past week to Alcoa influencing the Biden administration to prevent American imports of Russian aluminium, it has brought about a lot of differences. As a result, aluminium prices rose by more than 3 per cent. Also, the embargo on Russian aluminium jeopardises the world market's ability to recover from various crises. It raises the question of whether China, the world's largest aluminium producer, can fill the supply gap. The possibility that the London Metal Exchange might restrict the entry of Russian metal, Beijing's support for domestic producers, and production reductions in both Europe and China, according to Platts Analytics, have all...
Hindalco Industries Limited has expanded its aluminium ingot and aluminium product prices in line with the global aluminium benchmark price increase. As of Friday, October 14, Hindalco’s latest aluminium ingot price closed at INR 223,750 per tonne, up by INR 13,750 per tonne from INR 210,000 per tonne on the previous day. The price of aluminium billets also surged by INR 13,750 per tonne from October 14 to halt at INR 237,850 per tonne. The amount recorded on October 12 settled at INR 224,100, which was down by INR 5,000 per tonne from INR 229,100 per tonne on October 11. Aluminium wire rod price has also been hiked by INR 13,750 per tonne to clock at INR 234,850 per tonne. On October 12, it stood at INR 221,100 per tonne, down by INR 5,000 per tonne from INR 226,100 per tonne on October...
Following the recent military escalation in Ukraine, Alcoa is pressing the Biden administration to obstruct U.S. aluminium imports from Russia. As a result, aluminium prices increased by more than 3 per cent. According to recent news reports, the White House is reportedly exploring various alternatives regarding imports of Russian aluminium, including perhaps forbidding leading manufacturer Rusal from selling its goods in the United States. This week, President Joe Biden's administration examined various alternatives regarding imports of Russian aluminium, including perhaps forbidding Rusal, the biggest producer of aluminium outside of China, from selling its goods in the United States. Washington has fewer Russian businesses to restrict as the Russian invasion of Ukraine has extended...
According to the Romanian aluminium producer, Alro SA, one of the largest vertically integrated aluminium producers in Europe, measured by production capacity, the company was declared a "selected investor" following a public tender organized by Complexul Energetic Oltenia (CEO) to build a natural gas fired power plant at Isalnita together. Complexul Energetic Oltenia is a 40-year-old provider of National Power System safety. The energy supplier stated that the wind does not blow continuously, while during cloudy and rainy days, the solar system's efficiency drops, and the sun does not shine all the time. Instead, the coal of Complexul Energetic Oltenia can provide electricity for Romania for the next 40 years, which is possible based only on the reserves discovered so far. Marian...
LME aluminium moved around the 5-day moving average after opening at US$2,330 per tonne on Thursday, and closed at US$2,337 per tonne, a decrease of 0.64 per cent. On Thursday, October 13, LME aluminium cash bid price skyrocketed by US$147.50 per tonne or 6.63 per cent to stand at US$2,373.50 per tonne and LME aluminium official settlement price soared by US$147 per tonne or 6.60 per cent to rest at US$2,374 per tonne. 3-month bid price and 3-month offer price jumped by US$140.50 per tonne to stand at US$2,360 per tonne and US$2,360.50 per tonne. December 23 bid price and December 23 offer price surged by US$118 per tonne to hover around US$2,302 per tonne and US$2,307 per tonne, respectively. LME aluminium opening stock totalled 351900 tonnes. Live warrants and Cancelled warrants closed...
On Friday, October 14, China’s A00 aluminium ingot price expanded by RMB 220 per tonne to settle at RMB 18,700 per tonne, with the average prices ranging between RMB 18,680 per tonne and RMB 18,720 per tonne. The spot contract price is expected to be traded at a discount price of RMB 110 to RMB 70 per tonne. The price in Chongqing has surged by RMB 250 per tonne to rest at RMB 18,790 per tonne. On the same day, the prices in Hangzhou and Wuxi have grown by RMB 220 per tonne to stand at RMB 18,710 per tonne and RMB 18,690 per tonne. As per the SMM data, the prices in Foshan and Gongyi have increased by RMB 210 per tonne to score at RMB 18,720 per tonne and RMB 18,550 per tonne. Tianjin’s price has surged by RMB 200 per tonne to clock at RMB 18,680 per tonne. The prices in Shenyang and...
On Thursday, October 13, aluminium billet inventories in China dwindled by 10,000 tonnes or 9.29 per cent across five major consumption areas. The inventory settled at 97,600 tonnes from 107,600 tonnes recorded on Monday, October 10. Shipments from Yunnan and Xinjiang to Guangdong were decreased by suppliers. The pandemic epidemic in Xinjiang hindered transportation, which decreased arrivals at consumption centres. The figure below provides further information on the current state of aluminium billet inventories in China: The aluminium billet inventory in Foshan has declined by 3,400 tonnes or 4.79 per cent to settle at 67,500 tonnes, from 70,900 tonnes recorded on Monday. As of Thursday, October 13, the inventory in Huzhou and Wuxi has descended by 3,500 tonnes or 26.92 per cent and...
