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 October 6 2022, the Government of Norway presented a budget proposal for 2023, and the draft incorporates several elements affecting Hydro's activities in the Norwegian market. The Norwegian aluminium and renewable energy company Norsk Hydro headquartered in Oslo, produces 9.4 TWh of equity power annually during an average year. It operates five wholly-owned primary production facilities in Norway, with a combined capacity of about 1.1 million tonnes of primary aluminium. Moreover, Hydro has an aluminium extrusion plant in Magnor. The overall company employs around 4500 people in the country. The national budget for 2023 includes proposals to raise resource rent taxes on hydropower and clarify the CO2 compensation scheme. On September 28, the government proposed an additional resource...
On Thursday, October 6, both LME aluminium cash bid price and LME aluminium official settlement price soared up by US$66.5 per tonne or 2.90 per cent and US$66 per tonne or 2.88 per cent to settle at US$2,354.50 per tonne and US$2,355 per tonne. 3-month bid price and 3-month offer price surged by US$62 per tonne or 2.69 per cent and US$61 per tonne or 2.65 per cent to rest at US$2,359 per tonne and US$2,360 per tonne. December 23 bid price and December 23 offer price shot up by US$62 per tonne or 2.59 per cent and 2.58 per cent to record at US$2,452 per tonne and US$2,457 per tonne. LME aluminium opening stock came in at 328850 tonnes. Live warrants and Cancelled warrants stood at 265625 tonnes and 63225 tonnes. LME aluminium 3-month Asian Reference Price showed no change, settling at...
On Thursday, September 6, Alcoa Corporation announced a new power purchase agreement (PPA) with Endesa to facilitate reopening the San Ciprián aluminium smelter in Spain. Endesa is a well-known power provider in Spain and a division of the Enel Group. From 2024 through at least 2030, the agreement will include power balancing services for the smelting load. Electricity is delivered to the smelter's consumption point through balancing services directly from the market or baseload volumes from a power purchase deal with Endesa. The agreement with Endesa would cover up to 131 megawatts starting in the second half of 2025 and continuing through 2033, or little more than 30 per cent of the smelter's maximum-capacity energy needs. As the process of building wind farms progresses, the final...
Spinifex Offshore Wind Farm has received $1.5 million in financing from the Australian Renewable Energy Agency (ARENA) to supply the Portland Aluminium Smelter with up to 100 per cent renewable energy from a 1,000 MW wind farm off the southwest coast of Victoria. A wind resource evaluation will be done by Spinifex, an Alinta Energy subsidiary, and early-stage development operations leading to the building of the wind farm will be accelerated. The Portland Aluminium Smelter's existing substation would be used to link the offshore wind farm to the National Electricity Market (NEM), which would enable the smelter to run on renewable energy and reduce its carbon footprint. The smelter can produce over 358,000 tonnes of aluminium annually, more than 20 per cent of the country's total...
The world's leading aluminium producer Rusal, further to a recent media report, refutes in the strongest terms any suggestion that it is planning to deliver large quantities of metal on the LME, in Europe, the U.S. or any other location. Rusal also commented that the statements otherwise are highly speculative and irresponsible. The company's sales book is solid and does not need to deliver metal to LME warehouses. The Russian aluminium giant also notes the alarmist views expressed by other interested parties that it is damaging to the industry's confidence as a whole. Rusal stated, “We want to point out that there is no basis upon which to take any action regarding the warrantability of RUSAL's metal, and any decision otherwise could have long-lasting adverse effects on the market,...
New Zealand Aluminium Smelter (NZAS) and Rio Tinto have formed an alliance with the Iwi to restore the Tiwai Point aluminium site in Southland. Smelter owner Rio Tinto and Te Rūnanga o Ngāi Tahu declared in a joint statement that the Murihiku Rūnaka had been approached to chalk out a plan for the regeneration of the land. The memorandum was signed at Te Rau Aroha Marae in Motupōhue/Bluff by frontmen from Murihiku Rūnaka and Te Rūnanga o Ngāi Tahu. Under the clause of the agreement, NZAS and Rio Tinto will work jointly with the local rūnaka to transform the site, though the document would not be made public. The team will start by removing waste, performing environmental studies and rejuvenating the site. This step was necessary after the review released last month displaying the waste...
On October 5, Wednesday, LME aluminium cash bid price has seen a rise of US$27 per tonne or 1.19 per cent to close at US$2,288 per tonne, and LME aluminium official settlement price also shot up by US$27.50 per tonne or 1.22 per cent to rest at US$2,289 per tonne. 3-month bid price has jumped up by 1.19 per cent or US$27 per tonne to stand at US$2,297 per tonne, while the 3-month offer price has witnessed a similar price hike, closing at US$2,299 per tonne. December 23 bid price and December 23 offer price both moved upwards by 0.93 per cent or US$22 per tonne, stopping at US$2,390 per tonne and US$2,395 per tonne, respectively. LME aluminium opening stock continued to decline by 0.02 per cent or 75 tonnes, from 328,600 tonnes to 328,525 tonnes as of October 5. Live warrants totalled...
The Russian aluminium giant RUSAL's Board of Directors approved the metal company's Health and Safety strategy until 2030. RUSAL's Health and Safety strategy aims to enhance all elements of occupational health, considering the best corporate practices. According to the strategy, the frequency of occupational accidents and major incidents will be at least halved at the organisation's production facilities by 2030. Targets also incorporate the complete elimination of fatal injuries and significant fires. In order to achieve its goals, Rusal plans to improve the occupational health culture among its employees. This requires the development of line managers' leadership competencies and each employee's safe behavioural skills. Special attention is given to encouraging employees' personal and...
The London Metal Exchange's (LME) consultation a few days back on whether outlaw from trading of a powerful metal-producing nation has stimulated disquiet about an upturn twirl in the price of aluminium and diminishing demand for the metal. The London Metal Exchange is a futures and forwards exchange with the world's largest market in standardized forward contracts, futures contracts and options on base metals. On 29th September 2022, LME stated that it reviewed a dialogue on whether Russian aluminium, nickel and copper should pursue to be traded and stored in its system. However, to be much surer about it, a globally renowned and recognized media suggested that LME could not prohibit Russian metals without sanctions being struck on the companies that produced them. Yet, anxiety created...
On October 4, Tuesday LME aluminium cash bid price has escalated by US$98 per tonne or 4.53 per cent to settle at US$2,261 per tonne, and LME aluminium official settlement price also has hiked by US$97.50 per tonne or 4.5 per cent to rest at US$2,261.50 per tonne. 3-month bid price has skyrocketed by 4.7 per cent or US$102 per tonne to stand at US$2,270 per tonne, while the 3-month offer price has witnessed a US$103 per tonne or 4.75 per cent spike, closing at US$2,272 per tonne. December 23 bid price and December 23 offer price both has augmented by 4.3 per cent or US$98 per tonne, stopping at US$2,368 per tonne and US$2,373 per tonne, respectively. LME aluminium opening stock continued to decline by 0.44 per cent or 1,450 tonnes, from 330,050 tonnes to 328,600 tonnes as of October 4....
According to our report, two industry associates directly involved in pricing discussions stated that a premium of $99 a tonne had been agreed between Japanese aluminium buyers and at least two global producers for October-December shipments, a decrease of 33% from a year ago. This is a decrease from $148 a tonne paid in the July-September quarter and marked the fourth consecutive quarterly drop. The price is also lower than the producers' initial offers of $115-$133. Among Asia's top metal importers, Japan is defined by the premium PREM-ALUM-JP negotiates each quarter over the benchmark London Metal Exchange (LME) metal price CMAL0. The aluminium industry in Japan is a complete processing business with the exclusion of smelting. Therefore value addition is less. However, with the rapid...
On Monday, October 3, both LME aluminium cash bid price and LME aluminium official settlement price slumped by US$16.5 per tonne or 0.75 per cent and US$16 per tonne or 0.73 per cent to settle at US$2,163 per tonne and US$2,164 per tonne. 3-month bid price and 3-month offer price settled at US$2,168 per tonne and US$2,169 per tonne after witnessing a drop of US$27 per tonne or 1.23 per cent and US$28 per tonne or 1.27 per cent. December 23 bid price and December 23 offer price slipped by US$23 per tonne or 1 per cent to halt at US$2,270 per tonne and US$2,275 per tonne. LME aluminium opening stock was recorded at 330050 tonnes. Live warrants and Cancelled warrants stood at 261300 tonnes and 68750 tonnes. LME aluminium 3-month Asian Reference Price plunged by US$86.06 per tonne or 3.85 per...
On Monday, October 3, Vedanta Limited, an Indian multinational mining company, reported that its aluminium production stood at 584,000 tonnes in the second quarter of FY2023 ended September 30. That edged 2 per cent higher than 570,000 tonnes during the corresponding period of the last year. The company also reported in the filing, "First half mined metal production at 507,000 tonnes was higher by 8 per cent YoY, on account of increase in ore production, further supported by better grades and improved operational efficiency." Vedanta's production of finished steel also recorded a year-on-year rise of 11 per cent from 293,000 tonnes to 325,000 tonnes in Q2FY23. Total power sales increased to 3,615 million units (MU) during the said period from 2,905 MU a year ago.
As of Thursday, September 29, aluminium billet inventory in China nosedived by 26,000 tonnes W-o-W across four major consumption areas. The inventory closed at 80,100 tonnes from 106,100 tonnes recorded last week. The figure below provides further information on the current state of aluminium billet inventories in China: As per the SMM data, the aluminium billet inventory in Huzhou ascended by 6,600 tonnes to close at 8,000 tonnes on the same day. The inventory in Foshan continued its downward trend and dropped by 14,100 tonnes to close at 51,400 tonnes due to the declining exports from Yunnan and Xinjiang. On the same day, the inventories in Wuxi and Changzhou declined by 4,200 tonnes and 1,400 tonnes to record 11,200 tonnes and 4,900 tonnes. In Nanchang, the inventory dipped by 300...
The global aluminium industry continues to stay in the limelight again in September. Yes, off-course, Aluminium 2022 - Dusseldorf stands to be a key event that the aluminium industry has been waiting for for some time but was postponed due to the Covid pandemic. However, other than this gala event, the industry also witnessed the LME aluminium price hit 18 month low, and the production cut continues but majorly in Europe. Aluminium industry leaders are also concerned about the delay in bookings for 2023 as customers want to clean up their stockpiles. This downward demand trend for silver metal is also an indicator that the world economy is stepping into a slowdown, which is anticipated to cause a worldwide financial crisis. As always, AlCircle brings its readers the best news from the...
On 3rd October 2022, Mitsubishi Power, a power solutions brand of Mitsubishi Heavy Industries, Ltd. (M.H.I.), announced that it had inked a long-term service agreement (LTSA) with Aluminium Bahrain B.S.C. (Alba), the first aluminium smelter in the Middle East. Parts, repairs, and services are covered under the LTSA for Mitsubishi Power's innovative J-series gas turbine power block, which has a 680.9 megawatts (M.W.) capacity. It will enhance Alba's aluminium production, a cornerstone of Bahrain's economic growth and development, by improving reliability, efficiency, and availability of power supply. Alba recently signed a contract with Mitsubishi Power & SEPCOIII to design, engineer, procure, construct and commission a new combined cycle gas turbine power block for Bahrain's Power Station...
The North American aluminium market, known as the pre-eminent maker across-the-board from beverage cans to automobiles to space components, is delaying their 2023 orderings for raw materials. However, a few days back, this issue was even illustrated by a chairman of a major aluminium producer in the Middle East. It was gloomy at this year's conference in Washington, with producers, recyclers, and metal product makers discussing government policy and end-use markets, unlike a year ago when the industry enjoyed its best stretch in a decade. During the negotiation process for 2023 requirements, buyers and sellers inclines to extend the season into the fall later than last year as uncertainty over inflation, supply chains, and economic growth causes buyers to be undecided about booking more...
In August 2022, world alumina production stood at 11.943 million tonnes, reflecting a dip of 1.12 per cent month-on-month, found the International Aluminium Institute. However, the output in July recorded a monthly rise of 2.70 per cent to come in at 12.078 million tonnes. On a year-on-year basis, world alumina output in August’22 improved by 2.33 per cent from 11.671 million tonnes. From January to August, world alumina production totalled 92.463 million tonnes – 0.56 per cent less than 92.985 million tonnes a year ago. The daily average world alumina production in August 2022 was 385,300 tonnes, down by 1.1 per cent from 389,600 tonnes in July but up by 2.34 per cent from 376,500 tonnes in August 2021. In China, alumina output in August recorded a monthly restraint at 6.95 million...
