Impact Minerals Limited has raised approximately AUD 2.2 million (USD 1.56 million) before costs through a renounceable rights issue, providing additional funding to advance its two high-purity alumina projects in Australia. The company issued nearly 69 million new shares and approximately 46 million options under the capital raising, which was launched in August. Impact Minerals said the offer received strong participation from existing shareholders, including full take-up by its major German family office investor. Any remaining shortfall shares may be placed within three months, subject to the allocation policy outlined in the offer. Funding targets pilot and customer qualification work The fresh capital will support development of Impact Minerals’ Lake Hope and Alluminous high-purity...
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...
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After the two consecutive cuts, Vedanta’s aluminium ingot and products prices have seen a slight rise on Tuesday, August 23. The company has increased its aluminium ingot price by INR 1,250 per tonne to INR 220,250-249,750 per tonne, following a reduction of INR 2,500 per tonne on August 20 to INR 219,000-248,500 per tonne. Vedanta’s aluminium billet price has also seen a rise of INR 1,250 per tonne, resulting in INR 229,250 per tonne as of August 23. On Saturday, August 20, the price was cut by INR 2,500 per tonne from INR 230,500 per tonne to INR 228,000 per tonne. Vedanta’s aluminium wire rod price has come in at INR 227,750-235,250 per tonne on August 23 versus INR 226,500-234,000 per tonne on August 20. This reflects no exception but also an increase of INR 1,250 per tonne. Vedanta...
A00 aluminium ingot price in China has dropped by RMB 10 per tonne on August 23, Tuesday. According to the Shanghai Metals Market, the price has accurately settled at RMB 18,570 per tonne, with average prices estimated to range between RMB 18,550 per tonne and RMB 18,590 per tonne and spot contracts to be traded at a discount price of RMB 20 per tonne and a premium price of RMB 20 per tonne. The Chinese provinces have shown fluctuating prices today with Foshan, Wuxi and Hangzhou dropping by RMB 10 per tonne to close at RMB 18,370 per tonne, RMB 18,570 per tonne and RMB 18,610 per tonne. The aluminium ingot price in Gongyi has witnessed an RMB 20 per tonne plunge to rest at RMB 18,450 per tonne. The primary aluminium ingot prices in Chongqing and Linyi have escalated by RMB 10 per tonne...
LME aluminium opened at US$2,405 per tonne on Monday and closed at US$2,388.5 per tonne, down US$5 per tonne or 0.21 per cent. On Monday, August 22, both LME aluminium cash bid price and LME aluminium official settlement price went up by US$11.5 per tonne or 0.48 per cent to settle at US$2,387 per tonne and US$2,387.50 per tonne. 3-month bid price and 3-month offer price for the same day stood at US$2,380 per tonne and US$2,380.50 per tonne, after experiencing a similar growth of US$7 per tonne or 0.29 per cent. December 23 bid price and December 23 offer price also went up by US$8 per tonne or 0.33 per cent to rest at US$2,425 per tonne and US$2,430 per tonne. LME aluminium opening stock was recorded at 273325 tonnes. Live warrants and Cancelled warrants came in at 172375 tonnes and...
Social inventories of primary aluminium in China have witnessed a slight rise of 3,000 tonnes over the weekend across eight major consumption areas, including SHFE warrants. Shanghai Metals Market data shows the inventories have totalled 683,000 tonnes as of August 22, compared to 680,000 tonnes on Thursday, August 18. Last week, on Thursday, primary aluminium inventories slipped sharply by 13,000 tonnes week-on-week and 18,000 tonnes from Monday, August 15, to clock at 680,000 tonnes. Cargo outflows from warehouses increased by 7,300 tonnes week-on-week, but inventories were offset by the arrivals of stocks in Wuxi and Hangzhou. Change in inventories in each Chinese province is further detailed in the chart below: Primary aluminium inventories in Wuxi and Hangzhou have accumulated 2,000...
According to a report on Monday, August 22, strike at Hydro Sunndal aluminium plant has come into effect today, which will result in the implementation of production cut agreement. Also, as a result of the strike, around 30 members of Industri Energi will not report to work at the aluminium plant. The strike is expected to cause a supply disruption, as 20 per cent of the production will initially be reduced within the next four weeks. A pause in the shipment of products from Hydro Sunndal to customers during the strike will also be an added factor for the supply irregularities. If the strike continues for more than four weeks, then another 10 per cent of production will be cut each week until one section of production line remains. More Industri Energi members will go on strike gradually,...
LME aluminium opened at US$2,404 per tonne last Friday, with its high and low at US$2,411 per tonne and US$2,375 per tonne respectively before closing at US$2,393.5 per tonne, a drop of US$11.5 per tonne or 0.48 per cent. LME aluminium cash bid price stopped at US$2,375.50 per tonne, with a 1.43 per cent or US$34.50 per tonne decline to close the week on Friday, August 19, while LME aluminium official settlement price rested at US$2,376 per tonne, experiencing a drop of US$36 per tonne or 1.49 per cent. 3-month bid price fell by 1.66 per cent or US$40 per tonne to stand at US$2,373 per tonne, while the 3-month offer price stooped to US$2,373.50 per tonne with a 1.68 per cent or US$40.50 per tonne downfall. December 23 bid price and December 23 offer price decreased by US$41 per tonne or...
The global primary aluminium segment witnessed some important events this week. To begin with, by the end of September 2022, Slovalco Aluminium will shut down its primary aluminium manufacturing line. The Adani Group, backed by Indian billionaire Gautam Adani, revealed a $5 billion investment plan last week to develop an alumina refinery there. However, the international corporation with headquarters in Ahmedabad intends to build more than merely a sizable alumina refinery. The Sichuan province in China had been affected the worst due to severe power outrage brought on by the ongoing heatwaves. As a result of this, Chinese factories are lowering their operations to help cope with energy demands. On Monday, LME aluminium official settlement price opened the week with a decline of US$79 to...
Sichuan province in China is facing severe power shortages brought on by the ongoing heat waves. As a result, 19 cities in Sichuan province (except Panzhihua and Liangshan) had their power cuts from August 15 and are expected to continue till August 20 to ensure that residents have a sufficient power supply. The province has already reduced its aluminium capacity by 395,000 tonnes and is expected to rise more in the coming days. According to the SMM survey, most of Sichuan's aluminium smelters have their own carbon facilities and only need to purchase 9,500 tonnes of prebaked anode monthly. SMM anticipates that this month's prebaked anode output will be affected little. However, many carbon plants are currently adopting a wait-and-see attitude and have decreased raw material purchases due...
In July 2022, China’s unwrought aluminium and aluminium products imports, including alloys, plunged by 38.3 per cent year-on-year to stand at 192,581 tonnes, showed the General Administration of Customs on Thursday, August 18. This shrink in imports could be attributed to the domestic production rise to a record high and overseas supply disruption. Increase in domestic aluminium suppliers this year is also an important factor for the fall in China’s imports. China, the world’s biggest aluminium producer and consumer, made a record output of 3.43 million tonnes as smelters did not have to face power restrictions as much as last year. This discouraged imports from overseas. On the other hand, energy crisis was at its peak outside China, which contained the production of aluminium, an...
Last week, Indian billionaire industrialist Gautam Adani-led Adani Group announced an investment proposal of around $5 billion to build an alumina refinery in the country. However, the Ahmedabad-based multinational conglomerate plans to construct more than just a giant alumina plant. Our report cites people familiar with the group who believe that Adani's current discussions with the Odisha government indicate the company is impassive about exploring aluminium production opportunities. The flagship company of Adani Group, Adani Enterprises, received approval from the Odisha state government to set up two projects, including a 4 million tonnes per annum (mtpa) integrated alumina refinery . Hemant Sharma, the Principal Secretary Industries Department, Odisha, said negotiations with the...
Sumitomo Corporation, one of the world’s largest trading companies, has anticipated Japanese aluminium premiums to range between US$125 and US$175 a tonne next year, compared to $148 a tonne in the September quarter, unless a disruption on the domestic supply side due to production cut or supply hindrance from Russia. "Japanese premiums will likely drop further next quarter amid concerns over a global recession," said Yasushi Miyachi, manager of Sumitomo's light metals trading team. Russia was the second-biggest supplier of primary aluminium to Japan in 2021, providing 237,777 tonnes of the metal, which accounted for 17 per cent of Japan’s total imports. Japan is Asia’s biggest aluminium importer, and the premiums it agrees to pay over the LME cash price each quarter set a benchmark for...
A00 aluminium ingot price in China has plummeted by RMB 220 per tonne on August 19, Friday. According to the Shanghai Metals Market, the price has precisely settled at RMB 18,420 per tonne, with average prices estimated to range between RMB 18,400 per tonne and RMB 18,440 per tonne and spot contracts to be traded at a discount price of RMB 20 per tonne and a premium price of RMB 20 per tonne. The primary aluminium ingot price in Foshan has recorded a maximum decrease of RMB 250 per tonne to RMB 18,240 per tonne, followed by an RMB 230 per tonne decline in Hangzhou to rest at RMB 18,450 per tonne. In Wuxi, Chongqing, Shenyang and Linyi, the A00 aluminium ingot prices have nosedived by RMB 220 per tonne to come in at RMB 18,410 per tonne, RMB 18,350 per tonne, RMB 18,370 per tonne and RMB...
LME aluminium opened at US$2,404.5 per tonne on Thursday, with its high and low at US$2,440.5 per tonne and US$2,381 per tonne, respectively, before closing at US$2,405 per tonne, a drop of US$8.5 per tonne or 0.35 per cent. On Thursday, August 18, the LME aluminium cash bid price went down by US$3.5 per tonne or 0.14 per cent to close at US$2,410 per tonne. LME aluminium official settlement price slipped by US$2 per tonne or 0.08 per cent to rest at US$2,412 per tonne. 3-month bid price and 3-month offer price, on the other hand, inched up by US$1 per tonne or 0.04 per cent to come in at US$2,413 per tonne and US$2,414 per tonne. December 23 bid price and December 23 offer price crawled up by US$1 per tonne or 0.04 per cent to peg at US$2,458 per tonne and US$2,463 per tonne. LME...
The Hunter region in Australia is one of New South Wales' most popular destinations, where the aluminium smelting industry is under scrutiny as part of a Government's effort to cut greenhouse gases. The nation's largest Tomago Aluminium Smelter consumes around 11 per cent of the total energy production of NSW. However, the uppermost 200 in the country roots in about 28 per cent of Australia's greenhouse gas emissions. Chris Bowen, the Energy Minister, will commence discussions with all industrial polluters to bolster a "safeguard mechanism" policy, by which businesses would decarbonize or purchase carbon credits to offset their emissions. Based on feedback from those businesses, the Federal Government will design the mechanism. The Australian multinational mining and metal giant BHP,...
National Aluminium Company Limited (NALCO) has further reduced its aluminium ingot price since the last trim more than two weeks ago. On Thursday, August 18, the company's aluminium ingot price witnessed a cut of INR 4,700 per tonne to INR 221,950- 225,450 per tonne versus INR 226,650-230,150 per tonne on August 1. NALCO’s aluminium wire rod price has also suffered a loss of INR 4,700 per tonne on Thursday, August 18. Thus, the price has come in at INR 225,450- 229,800 per tonne against INR 230,150-234,500 per tonne on August 1. NALCO’s aluminium billets price is currently hovering around INR 226,400- 229,050 per tonne versus INR 231,100-233,750 per tonne on August 1. NALCO has continued to cut its aluminium ingot and aluminium products prices in response to the downward trend in...
After a surprise evaluation of the New Zealand power market, the Electricity Authority has decided to restrict power companies from signing large power deals with customers unless certain conditions are met. This is applicable to energy supply contracts of more than 150 megawatts, meaning power companies would not be allowed to strike a new power supply deal with the Tiwai Point aluminium smelter, without prior approval. Authority spokesman Sean Martin explains the Tiwai smelter’s power contract is the only one above 150MW and, therefore, requires the authority’s approval for renewal. The authority’s market policy manager Andrew Doube has explained that this measure has been taken in response to the average household paying above $200 more than they should pay for electricity each year...
The Quebec aluminium industry has always been known for its urge to support the primary producers, equipment makers and suppliers in business by ensuring the latest innovations, open to suggestions and working together. However, in its latest success stories, the industry witnessed a significant collaboration between Rio Tinto, Propulsa and EPIQ MECFOR for successfully installing the first EPURA self-cleaning filtering system with a stand-alone carbon cartridge on an EPIQ MECFOR anode hauler. Over the coming months, this new technology will be tested at Rio Tinto's Grande-Baie mill. The commercialization of EPURA's patented technology is in its early stages. There are now two variants available: EPURA cabin and EPURA engine. The EPURA cabin system with a carbon cartridge is the one that...
On Thursday, August 18, China's A00 aluminium ingot price has gone up by RMB 160 per tonne to settle at RMB 18,640 per tonne, as recorded by the Shanghai Metals Market (SMM). The average price for the same is expected to range between RMB 18,620 per tonne and RMB 18,660 per tonne, with spot contracts to be traded at a discount price of RMB 20 per tonne to a premium price of RMB 20 per tonne. The price in Hangzhou has increased by RMB 170 per tonne to rest at RMB 18,680 per tonne. On the same day, the price in Shenyang and Tianjin surged by RMB 160 per tonne to score at RMB 18,590 per tonne. The price in Linyi and Wuxi also witnessed the same price increment to settle at RMB 18,690 per tonne and RMB 18,630 per tonne. As per the SMM data, the price in Chongqing ascended by RMB 150 per tonne...
