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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According to Platts analytics, domestic aluminium prices in China have increased over a week based on the possibility that the London Metal Exchange may curb the entry of Russian metal, Beijing’s support for domestic producers, and production cut in both Europe and China. There is also a probability for volatile domestic aluminium prices until LME finally decides to suspend trading and storage of Russian metal, said Platts analytics. According to the Shanghai Futures Exchange (SHFE), the most active SHFE aluminium futures contract for November delivery closed 1.6 per cent higher at RMB 18,565 per tonne than settlement holiday prices, primarily in response to the LME price hike. Till October 6 from the beginning of the month, the aluminium price on the London Metal Exchange rose by US$175...
The chief executive of Greek aluminium and energy company MYTILINEOS, Evangelos Mytilineos, has been elected as the President of Eurometaux (Europe’s metals association) at the association’s General Assembly. He succeeds Mikael Staffas, CEO of Boliden, who has held this post since October 2018. Guy Thiran, the Director General of Eurometaux, commented: “I am thrilled to welcome Evangelos Mytilineos as our new President. His rich experience in the aluminium and energy sectors makes him exceptionally well-placed to lead our industry through today’s unprecedented energy crisis. When Europe commits to improving its strategic autonomy for the metals and minerals required in the energy transition, it’s fitting that a real industrial leader will head us with entire supply chain operations from...
Vedanta Limited has continued to reduce its aluminium ingot and aluminium products prices, with effect from Wednesday, October 12. The company has further axed its aluminium ingot price by INR 5,000 per tonne or 2.3 per cent to INR 212,250- 242,750 per tonne. On the previous day, it stood at INR 217,250 -247,750 per tonne, seeing a slash of INR 5,250 per tonne. The latest cut has brought in the Vedanta’s aluminium wire rod price to INR 219,750- 227,250 per tonne, down by INR5,000 per tonne from INR 224,750-232,250 per tonne on October 11. Aluminium billet price is hovering around INR 221,250 per tonne, effective from October 12, compared to INR 226,250 per tonne last day. Vedanta links its aluminium prices to the three-month futures of aluminium on the London Metal Exchange, which plunged...
The LME aluminium prices on 11 th October 2022 witnessed a glide following Bloomberg's report that the United States is considering a complete ban on Russian aluminium. The ban on Russian aluminium jeopardizes conquering a global market already stumbling from several disarrays while emphasizing if the world's largest aluminium-producing nation, China, could infuse the supply gap. According to people familiar with the deliberations, the US administration is considering the possibility of incorporating sanctions on the Russian aluminium giant as the White House looks to chastise Russia for escalating conflict with Ukraine. These steps would add to a deafening year of price dangling, supply haul and demand unrest in the initiation of Russia-Ukraine's geopolitical crisis from February 2022....
LME aluminium slid to US$2,200 per tonne after opening at US$2,240 per tonne on Wednesday but then jumped more than 6 per cent to US$2,400 per tonne as the United States was considering retaliatory measures against Rusal. LME aluminium closed at US$2,344 per tonne, an increase of 4.11 per cent. On Wednesday, October 12, LME aluminium cash bid price and LME aluminium official settlement price went up after experiencing a decline for three consecutive days. As per the data, both prices grew by US$8 per tonne or 0.36 per cent and US$8.5 per tonne or 0.38 per cent to settle at US$2,226 per tonne and US$2,227 per tonne. On the same day, 3-month bid price and 3-month offer price climbed up the graph by US$4.5 per tonne or 0.20 per cent to stand at US$2,219.50 per tonne and US$2,220 per tonne....
China's domestic A00 aluminium ingot price has again registered a rise on Thursday, October 13, after an intermittent dip last day. According to the Shanghai Metals Market, the price has increased by RMB 60 per tonne to peg at RMB 18,480 per tonne. The average prices are expected to range between RMB 18,460 per tonne and RMB 18,500 per tonne, with a spot contract to be traded at a discount price of RMB 100-60 per tonne. Among the major Chinese provinces, Foshan has seen the highest growth of A00 aluminium ingot price by RMB 70 per tonne to stand at RMB 18,510 per tonne, followed by the rise of RMB 60 per tonne in Chongqing, Hangzhou, and Wuxi to settle at RMB 18,540 per tonne, RMB 18,490 per tonne, and RMB 18,470 per tonne, respectively. In Shenyang and Linyi, primary aluminium ingot...
PSI Metals signed a strategic partnership with Seresco, a Spanish software company, in July. Within this partnership, Seresco will support the distribution of the PSI Metals products and launch them into new local markets. With a worldwide presence in Europe and Latin America, Seresco forms an important service group for consultancy up to software development. With these years of know-how, the company intends to specialise in the aluminium and steel sector. Thus, PSI Metals will support Seresco in building a center of excellence where resources for PSImetals solutions will always be available to customers globally. Rubén Pérez Sobrino, the Head of Business Development at Seresco, explains: "PSI Metals is the best solution to support us in achieving this goal. As a global industry leader,...
Three-month LME aluminium hit a low of US$$2,191 per tonne after opening at US$2,255 per tonne on Tuesday, October 11, but then rallied and closed at US$2,251 per tonne, down 0.16 per cent. On Tuesday, October 11, LME aluminium cash bid price and LME aluminium official settlement price continued to decline for the third day in a row. Both the prices lost US$ 55.50 per tonne and settled at US$2,218 per tonne and US$2,218.50 per tonne, respectively. 3-month bid price and 3-month offer price plunged by US$62 per tonne and US$62.50 per tonne to rest at US$2,215 per tonne and US$2,215.50 per tonne. December 23 bid price and December 23 offer price further contracted by US$66 per tonne to hover around US$2,297 per tonne and US$2,302 per tonne. LME aluminium opening stock slipped 1875 tonnes to...
On Wednesday, October 12, the A00 aluminium ingot price in China slumps by RMB 180 per tonne to settle at RMB 18,420 per tonne. The average price for the same is likely to range between RMB 18,400 per tonne and RMB 18,440 per tonne, with spot contract to be traded at a discount price of RMB 70 to RMB 30 per tonne. The price in Gongyi and Wuxi dropped by RMB 200 per tonne and RMB 190 per tonne to peg at RMB 18,320 per tonne and RMB 18,410 per tonne. Hangzhou also witnessed the same price as Wuxi settling at RMB 18,430 per tonne. On the same day, the price in Foshan and Linyi descended by RMB 180 per tonne to rest at RMB 18,440 per tonne and RMB 18,470 per tonne. As per the SMM data, the price in Chongqing went down by RMB 150 per tonne to close at RMB 18,480 per tonne. The prices in...
The global leader in low-carbon aluminium production, Rusal, announces the appointment of Roman Andryushin as Rusal's Deputy CEO, Sales and Marketing Director. As part of the Company's long-term strategy to grow and expand its presence, the appointment supports its long-term growth strategy. Roman Andryushin will be responsible for global aluminium sales in his new position. Previously Sales and Marketing Director Steve Hodgson remained with Rusal Marketing GmbH, supporting sales to the Company’s international consumers. Elias Sarkis has been appointed Export Sales Director, Deputy Sales and Marketing Director, and Bob Katsiouleris as Market Development and Quality Director, reporting to Roman Andryushin. Evgenii Nikitin, the General Director of Rusal, said, “Roman has worked at Rusal for...
LME aluminium opened at US$2,285 per tonne on Monday and closed at US$2,255 per tonne, down 1.38 per cent. On Monday, October 10, both LME aluminium cash bid price and LME aluminium official settlement price declined by US$67.5 per tonne or 2.88 per cent and US$68 per tonne or 2.90 per cent to settle at US$2,273.50 per tonne and US$2,274 per tonne. 3-month bid price and 3-month offer price slumped by US$67 per tonne or 2.85 per cent and US$67.5 per tonne or 2.87 per cent to reside at US$2,277 per tonne and US$2,278 per tonne. December 23 bid price and December 23 offer price dwindled by US$70 per tonne or 2.87 per cent to record at US$2,363 per tonne and US$2,368 per tonne. LME aluminium opening stock stood at 327675 tonnes. Live warrants and Cancelled warrants were halted at 269925...
The silvery metal aluminium has unblocked new dimensions in the last decades, as endless objects that can be simplified and upgrade the quality of daily human life are relatively made from aluminium. Aluminium is essential in converting to a climate-friendly economy. Electric vehicles, renewable energies, building and construction, machines, electronics, and packaging materials can be from recycled aluminium. Rob van Gils, the newly elected new President of Aluminum Germany, said, "The high energy prices are tearing the rug out from under the feet of energy-intensive production in Germany." Primary aluminium production is highly energy-sensitive; around 17,000 kWh of electricity is required to produce 1 tonne of aluminium. This indicates that it has a relatively high cost. Germany's...
The Shanghai Metals Market survey found social inventories of primary aluminium built-up 55,000 tonnes across eight major Chinese consumption areas, including SHFE warrants, during the National Day holiday ended October 7, 2022. As of Saturday, October 8, inventories totalled 674,000 tonnes, up by 22,000 tonnes from October 26. The surge in inventories could be attributed to downstream consumption recovery, as better consumption led to the possibility of continuous inventory accumulation. The chart below indicates the current status of primary aluminium inventories across China in more details: On a week-on-week basis, primary aluminium inventories in Wuxi rose 17,000 tonnes to stand at 206,000 tonnes as of October 8, following a sharp downfall of 22,000 tonnes in Gongyi to 90,000 tonnes....
LME aluminium rose from around US$2,140 per tonne to US$2,420 per tonne before falling back to around US$2,300 per tonne during the National Day holiday. LME aluminium closed at US$2,286 per tonne last Friday, up US$145 per tonne or 6.7 per cent during the National Day holiday. On October 7, Friday, LME aluminium cash bid price dropped by US$13.50 per tonne or 0.57 per cent to close at US$2,341 per tonne, and LME aluminium official settlement price also went down by US$13 per tonne or 0.55 per cent to rest at US$2,342 per tonne. International aluminium smelters and the smelters in China have curtailed their production rate but on the domestic side, the demand for downstream products expanded in September with local supply and export increasing on a month-on-month basis. 3-month bid price...
This week the global primary aluminium segment witnessed a lot of ups and downs. To begin with, in response to a recent media allegation, the largest producer of aluminium in the world, Rusal, vehemently denied any claims that it intended to supply significant amounts of metal on the LME, in Europe, the United States, or anywhere else. Also, the North American aluminium sector, recognised as the industry leader in producing everything from space components to autos and beverage cans, is postponing its raw material orders for 2023. The official settlement price for LME aluminium and the cash bid price for LME aluminium both fell by US$16.5 per tonne and US$16 per tonne on Monday, October 3, respectively, to start the week at US$2,163 per tonne and US$2,164 per tonne. However, on Tuesday,...
The LME aluminium benchmark price soared through this week except the fact it started with a decline. On Monday, October 3, LME aluminium cash bid price and LME aluminium official settlement price slumped by US$16.5 per tonne and US$16 per tonne, respectively, to initiate the week at US$2,163 per tonne and US$2,164 per tonne. But on Tuesday, October 4, the prices escalated by 4.5 per cent to rest at US$2,261 per tonne and US$2,261.50 per tonne. The next day, October 5, LME aluminium cash bid price and LME aluminium official settlement price further shot up by US$27 per tonne and US$27.50 per tonne to close at US$2,288 per tonne and US$2,289 per tonne. On October 6, both the prices continued to grow and stood at US$2,354.50 per tonne and US$2,355 per tonne, respectively. However, on...
National Aluminium Company Limited (NALCO) has significantly raised its aluminium ingot and aluminium products prices, effective from Thursday, October 6, following a sharp cut on September 27. NALCO’s aluminium ingot price has witnessed a surge of INR 19,800 per tonne to stand at INR 223,250-226,750 per tonne versus INR 203,450-206,950 per tonne last week. NALCO’s aluminium wire rod price has come in at INR 226,750-231,100 per tonne, also up by INR 19,800 per tonne from INR 206,950- 211,300 per tonne on September 27. Aluminium billets price is no exception but soared by the same amount to settle at INR 227,700-230,350 per tonne versus INR 207,900- 210,550 per tonne on September 27. NALCO has sharply expanded its aluminium prices in response to the continued increase in the three-month...
Hindalco Industries Limited has further expanded its aluminium ingot and aluminium products prices on Friday, October 7, following a hike two days ago (October 5). The company has continued to raise its aluminium ingot price by INR 9,000 per tonne or 4.26 per cent after increasing it significantly by INR 7,000 per tonne on the previous day. Therefore, the ingot price is now at INR 220,250 per tonne versus INR 211,250 per tonne on October 5. Hindalco’s aluminium wire rod price has also been raised by INR 9,000 per tonne on October 7 bringing it to INR 231,350 per tonne. On October 5, the price stood at INR 222,350 per tonne, seeing a build-up by INR 7,000 per tonne from the previous day. Aluminium billets price has come in at INR 234,350 per tonne as of October 7 compared to INR 225,350...
