Vietnam’s first electrolytic aluminium project has reached another major milestone, with the second phase of the 450,000-tonne-per-year (tpa) Da Nong project producing its first batch of molten primary aluminium on October 31, 2026. The milestone, achieved by China Nonferrous Metal Industry’s Foreign Engineering and Construction Co., Ltd. (NFC), which is the project’s general contractor, came four months and three days ahead of the contractual schedule, officially moving the second phase from construction to trial production. The latest development builds on the progress made during the first phase, which produced its first batch of molten primary aluminium on July 14. By September 15, all electrolytic cells in the first phase had successfully started producing aluminium. The second...
The London Metal Exchange (LME) aluminium price graph dipped across the pricing and contract segments on the November 2 trading session, reporting declines over the October 30 close . The Asian Reference Price and alumina Platts price, on the other hand, reported nearly 1 per cent gains. The LME aluminium cash bid price dipped by 0.63 per cent from USD 3,113.5 per tonne to USD 3,094 per tonne. The offer price moved from USD 3,114 per tonne to USD 3,095 per tonne, down 0.61 per cent day-on-day. Explore: Most comprehensive and forward-looking industry-focused report — Global Bauxite & Alumina Market Forecast to 2036: Supply–Demand, Trade Flows & Price Outlook The LME aluminium three-month bid advanced from USD 3,078 per tonne from USD 3,059.5 per tonne, decreasing by 0.6 per cent. The offer...
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On 19 th November 2021, the prices of aluminium surged as the cloud of supply distress is anticipated following an aluminium smelter in China that ceased its production due to an explosion. The Shanghai Metal Market reported that in China’s Yunnan province, an aluminium smelter with an annual production capacity of 300,000 tonnes stopped production after a blast incident happened in the plant on the evening of 18 th November 2021. The Shanghai Futures Exchange’s most-traded January aluminium contract inclined as much as 3.7% to RMB 19,260 a tonne, while three-month aluminium on the LME advanced as much as 3.1% to $2,696 a tonne. The aluminium sector has been deeply impacted by the recent China power crisis, as the smelting of metal is highly power-intensive. The global energy, chemicals,...
LME aluminium opened at US$2,610 per tonne on Thursday and closed at US$2,624 per tonne, an increase of US$15.5 per tonne or 0.59 percent. On Thursday, November 18, LME aluminium cash (bid) price dropped down by US$20 per tonne or by 0.76 percent to close at US$2,607 per tonne. For the same day, LME aluminium official settlement price also descended by US$20.5 per tonne or by 0.78 percent to total at US$2,607.50 per tonne. 3-month bid price and 3-month offer price totalled at US$ 2,595 per tonne and US$ 2,596 per tonne. December 22 bid price and December 22 offer price for the same was recorded at US$ 2,563 per tonne and US$ 2,568 per tonne. On November 18, LME aluminium opening stock stood at 948650 tonnes. Live warrants and cancelled warrant totalled at 577750 tonnes and 370900 tonnes,...
On 18 th November 2021, Sridhar Patra, the Chairman and Managing Director of the Indian state-owned National Aluminium Company (NALCO), mentioned that the production and sales figure in FY22 will reach record levels. The integrated aluminium company declared earnings for the September-ended quarter with a powerful performance by the aluminium business and upheld by the alumina business. The CMD said: “The profitability that we saw after the H1, we are confident that in the second half we will be beating all the records of this decade on the production front, financial performance and on all aspects.” “Aluminium prices in H2FY22 will sustain at around $2,200-$2,300. I am confident that aluminium price, in the second half, will prevail at around $2,200-2,300 per tonne.” “However, alumina...
On 18 th November 2021, Deeptaman Mukherjee, the Director of Commodities for Vedanta’s Aluminium Business stated that annual aluminium production in India could attain five million tonnes in the next five to six years, which is an increase of around 25% from current levels. Mukherjee said based on the ongoing projects that companies are working on in India: “The 4 million tonnes of metal production today potentially could increase to five million tonnes in about five to six years.” During a panel discussion at the A-Z China virtual aluminium conference, he added: “If there is a new market participant that comes in, possibly that five million tonnes could increase to about 5.5-6 million tonnes of aluminium production.” However, according to an International data analytics and research...
The Govt. of Scotland has been compelled to reveal that the value of the taxpayer guarantee it delivered to distressed metal tycoon Sanjeev Gupta’s GFG Alliance was £586 million. This huge amount was the total gross guarantee provided when GFG Alliance in 2016 acquired the Lochaber aluminium smelter near Fort William and two nearby hydropower plants from Rio Tinto. The agreement incorporated the Scottish government guaranteeing 25 years of power purchases by Gupta’s GFG Alliance from another business owned by his father. Greensill Capital, the collapsed into insolvency finance company was then competent to convert this contract into £295 million of debt that shouldered the same credit rating as UK sovereign bonds, funding Sanjeev Gupta’s acquisition of the last remaining aluminium smelter...
At Enterprise Odisha 2021, Vedanta Aluminium Business, India's biggest manufacturer of aluminium and its value-added products, revealed intentions to work on innovation and technology with entrepreneurs and start-ups. The 23rd edition of Enterprise Odisha, organised by the Confederation of Indian Industry (CII) in partnership with the Government of Odisha, included important companies from several industries, including Vedanta Aluminium. “Driven by innovation and technology, Odisha is poised to be a Trillion Dollar Economy in the next decade. I thank the Hon’ble CM of Odisha, Shri. Naveen Patnaik ji, for creating a favourable environment which has fostered 360-degree development in the state. We remain strongly committed to development of Odisha.Vedanta has planned major investments in...
China’s social inventories of primary aluminium have built up by 31,000 tonnes this week across eight major consumption areas, including SHFE warrants, found the Shanghai Metals Market. Thus, the inventories have amounted to 1.038 million tonnes on November 18, compared to 1.007 million tonnes last week, November 11. The chart below indicates the current status of primary aluminium inventories across China in more detail: Among the major Chinese cities, Wuxi has seen the highest rise of 24,000 tonnes in primary aluminium inventories to 406,000 tonnes on November 18, learned SMM. Gongyi has witnessed an increase of 13,000 tonnes to 91,000 tonnes, while inventories in Shanghai and Hangzhou have gained 4,000 tonnes and 1,000 tonnes week-on-week to 101,000 tonnes and 88,000 tonnes,...
After three hikes since November 11, Hindalco Industries Limited has cut its aluminium ingot and aluminium products prices with effect from Wednesday, November 17. The company’s aluminium ingot price has come in at INR 229,250 per tonne, down by INR 3,750 per tonne or 1.61 per cent from INR 233,000 per tonne on November 13. Hindalco’s aluminium wire rod price has also been reduced by INR 3,750 per tonne on November 17, bringing the price to INR 240,350 per tonne from INR 244,100 per tonne on the previous day. Aluminium billets price is being sold at INR 239,850 per tonne with effect from November 17, compared to INR 243,600 per tonne on November 13. Hindalco Industries Limited links its aluminium ingot and aluminium products prices to the three-month future of aluminium on the London...
The most-liquid SHFE 2201 aluminium contract increased RMB 90 per tonne to settle at RMB 18,630 per tonne in overnight trading. Three-month LME aluminium rose 1.38 percent to end at US$2,608.5 per tonne last night. Both LME aluminium cash (bid) price and LME aluminium official settlement price decreased slightly by US$0.5 per tonne or by 0.01 percent to total at US$2,627 per tonne and US$2,628 per tonne, as of Wednesday, November 17. 3-month bid price and 3-month offer price closed at US$2,621.50 per tonne and US$2,622.50 per tonne, respectively. December 22 bid price and December 22 offer price for the same day was recorded at US$2,585.00 per tonne and US$2,590.00 per tonne. On November 17, LME aluminium opening stock closed at 956750 tonnes. Live warrants and cancelled warrant for the...
The global mining and metal giant, Rio Tinto is infusing $87 million to raise its low-carbon aluminium production in Canada with 16 new smelting cells at its AP60 smelter, in the Saguenay-Lac-Saint-Jean region of Quebec. The investment will inflate production at the smelter by around 45% or 26,500 tonnes of primary aluminium per year to a capacity of 86,500 metric tonnes and deliver a secure prospect for approximately 100 employees working at the facility. Rio Tinto predicts that the global aluminium market will grow at an average rate of 3.3% per annum over the next decade with strong demand driven by the energy transition and decarbonisation. Ivan Vella, the CEO of Rio Tinto Aluminium said: "Rio Tinto is committed to strengthening its position as a leader in low-carbon, hydro-powered...
The Chinese state economic planner will execute a fresh set of energy consumption benchmarks for the country’s energy-intensive industries from 2022, proffering manufacturers three years to adhere or close down to attach its climate-change goals. The least efficiency standards materialize to clasp a target at aluminium smelters, steel and cement producers, as they remain as the top energy consumers and polluters. The stocks of the major players like aluminium producer Chalco and Baoshan Iron & Steel slumped, against a predominantly bullish market on 16 th November. On 15 th November, China’s central economic planner, the National Development and Reform Commission (NDRC) revealed the criterion energy consumption levels for five high energy-consuming industries in a joint statement with...
National Aluminium Company Limited (NALCO) has hiked its aluminium ingot and aluminium product prices for the second time in a row, with effect from Tuesday, November 16. The company’s aluminium ingot price has come in at INR 230,350-233,850 per tonne after being sharply increased by INR 10,500 per tonne from INR 219,850-223,350 per tonne on November 11. The latest increase has brought the company’s aluminium wire rod price to INR 232,850-237,200 per tonne, also up by INR 10,500 per tonne from INR 222,350-226,700 per tonne. Aluminium billets price is hovering around INR 233,800-236,450 per tonne versus INR 223,300-225,950 per tonne on November 11. NALCO links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which...
Three-month LME aluminium opened at US$2,636.5 per tonne yesterday and closed at US$2,573 per tonne, a decrease of US$61.5 per tonne or 2.33 percent. On Tuesday, November16, LME aluminium cash (bid) price plunged down by US$50 per tonne or by 1.86 percent to stand at US$2,627.50 per tonne. LME aluminium official settlement price also moved down by US$49.5 per tonne or by 1.84 percent to close at US$2,628.50 per tonne. 3-month bid price and 3-month offer price settled at US$2,627 per tonne and US$2,628 per tonne, respectively. December 22 bid price and December offer price for the same day totalled at US$2,580 per tonne and US$2,585 per tonne. On November 16, LME aluminium opening stock was recorded at 959975 tonnes. Live warrants and cancelled warrants for the same day settled at 595825...
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Aluminium Bahrain B.S.C. (Alba), one of the region's leading industrial companies, has endorsed HRH Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, on his recently announced climate change goals and commitment to double the number of trees in the Kingdom by 2035 through his 'A Tree for Every Employee' planting initiative to boost biodiversity and combat climate change. Alba's Chief Executive Officer Ali Al Baqali and the Executive Management team came together with Alba's Chairman of the Board Shaikh Daij bin Salman bin Daij Al Khalifa in a company-wide initiative to distribute saplings of various plant varieties to all employees at the company's gates on November 14-15, 2021, with the goal of encouraging them to take the lead in increasing Bahrain's green cover...
On November 15, 2021, Century Aluminium Company (NASDAQ: CENX) stated that Norurál Grundartangi ehf ("Norurál"), a wholly-owned subsidiary of Century Aluminium Company (NASDAQ: CENX), and Qair, an independent renewable power producer, have signed a letter of intent for the supply of green electricity to the Grundartangi smelter originating from two of Qair's windfarms with a total installed capacity of 200 MW under development in Iceland. The two firms have also agreed to collaborate on the development of a CO2 capture technology for the Grundartangi smelter. If the project is successful, the collected CO2 will be utilised to produce eFuel in conjunction with Qair's hydrogen facility, which is being built close to Grundartangi. “At Century we are committed to the highest possible...
A00 aluminium ingot price in China on 16 th November has revealed a further dip of RMB 250 per tonne to RMB 18,940 per tonne, while the average prices are likely to range between RMB 18,920 per tonne and RMB 18,960 per tonne. The spot contract is estimated to be traded at a premium price of RMB 160-120 per tonne. The primary aluminium ingot price in Gongyi has plunged by RMB 250 per tonne to stand at RMB 18,920 per tonne, followed by RMB 250 per tonne price drop at Wu Xi, keeping at RMB 19,940 per tonne. The aluminium ingot price in Hang Zhou also reflected a downfall by RMB 230 per tonne to RMB 18,950 per tonne. In Lin Yi, the price of primary aluminium unveils drop by RMB 210 per tonne to RMB 19,040 tonnes, while the aluminium price at Chong Qing and Shen Yang exhibited with downfall by...
LME aluminium fell US$62.5 per tonne or 2.32 percent to settle at US$2,634 per tonne with open interest rising 4,522 lots to 708,000 lots. Both LME aluminium cash (bid) price and LME aluminium official settlement price ascended by US$2 per tonne or by 0.07 percent to close at US$2,677.50 per tonne and US$2,678 per tonne. 3-month bid price and 3-month offer price totalled at US$2,677 per tonne and US$2,678 per tonne. December 22 bid price and December 22 offer price closed at US$2,625 per tonne and US$2,630 per tonne. LME aluminium opening stock on November 15 settled at 968450 tonnes. Live warrants and cancelled warrants for the same day closed at 595825 tonnes and 372625 tonnes, respectively. LME aluminium 3-month Asian Reference Price settled at US$2,649.50 per tonne as of November 15....
The voice of the aluminium industry in the US, the Aluminum Association has announced the joining of Virginia Gum Hamisevicz as new Vice President of Government Affairs & International Programs. Virginia carries around 20 years of working experience advocating energy, natural resources and trade policy before Congress and the Executive Branch. She spent more than a decade with the National Mining Association as Vice President for Government Affairs. She also served on staff for both Reps. Shelley Moore Capito (R-W.Va.) and Bill Shuster (R-Penn.). Furthermore, she has held positions with the Environmental Protection Agency, National Park Service, Independent Petroleum Association of America, and the Methanol Institute. Virginia Gum Hamisevicz in the role of Vice President, Government...
