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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A00 aluminium ingot price in China has increased by RMB 40 per tonne to stand at RMB 20,240 per tonne on Monday, November 1, found the Shanghai Metals Market. The average prices are expected to range between RMB 20,220 per tonne and RMB 20,260 per tonne, with average prices likely to range between RMB 100-60 per tonne, down by RMB 20 per tonne from the previous day. In Foshan, A00 aluminium ingot price has climbed by RMB 70 per tonne to stand at RMB 20,270 per tonne, followed by the rise of RMB 45 per tonne in Chongqing to RMB 20,235 per tonne. In Gongyi, Wuxi, and Hangzhou, primary aluminium ingot price has gained RMB 30 per tonne to come in at RMB 20,130 per tonne, RMB 20,220 per tonne, and RMB 20,230 per tonne, respectively. In Linyi, A00 aluminium ingot price has grown by RMB 20 per...
This week has been a week for quarterly updates from many stalwart primary aluminium companies such as Hydro, Qamco, Chalco, and Vedanta. Hydro announced that in 3Q2021, it produced 573,000 tonnes of primary aluminium, which was 2 per cent up from 561,000 tonnes in Q2 2021 and 10 per cent higher than 522,000 tonnes in Q3 2020. It also revealed that its revenue in Q3 was 6 per cent more than in Q2 2021 and 33 per cent higher than in Q3 2020 at NOK 36,710 million. In total nine months, Hydro churned out 1.673 million tonnes of primary aluminium as compared to 1.559 million tonnes a year ago. To know more: https://www.alcircle.com/news/hydros-primary-aluminium-production-in-3q2021-grows-2-to-573-000-tonnes-ebitda-from-primary-aluminium-totals-nok4-263-million-71748 Qatar Aluminium...
The Indian commodities magnate Anil Agarwal chaired Vedanta Ltd. publicized a consolidated net profit of INR 4,615 crore in the July-September quarter, which reveals an upswing by more than five times from the corresponding period previous year at INR 838 crore on a low-base effect. Consecutively, net profit was up 9.2% from INR 4,224 crore. The top line of the company during the phase under review, stood at INR 30,048 crore, surging by 44% from the same period existing year on the shoulder of towering commodity prices. However, the quarterly revenue is considered a record for the company. On a call to discuss the earnings, Sunil Duggal, CEO of Vedanta commented: “High commodity prices have placed Vedanta in a strong position and we are benefitting from this increase in prices.” He also...
LME aluminium benchmark price shrunk by US$222 per tonne throughout the week ended October 29, 2021. LME aluminium cash (bid) price and LME official settlement price started the week on Monday, October 25, at US$2,916.50 per tonne and US$2,917 per tonne. They both plunged on October 26 for the sixth day in a row by US$86 per tonne to US$2,830.50 per tonne and US$2,831 per tonne. On October 27, the prices again fell sharply by US$127 per tonne to come in at US$2,703.50 per tonne and US$2,704 per tonne, but moved up the next day to US$2,720.50 per tonne and US$2,721 per tonne. On Friday, October 29, both LME aluminium cash (bid) price and LME official settlement price closed the week US$2,694.50 per tonne and US$2,695 per tonne, respectively. 3-month bid price and 3-month offer price...
On 28 th October 2021, The Aluminum Association made public that Charles “Chuck” Johnson will join as the group’s new President & CEO effective 3 rd January 2022. In his previous assignment, Johnson spent more than four years as President & CEO of the International Safety Equipment Association (ISEA), a trade organization representing the personal protective equipment and technologies industry. However, prior to that, he served for 19 years at the Aluminum Association in roles of increasing responsibility. Johnson on being appointed for the role said: “I am thrilled to be part of the Aluminum Association’s next chapter during this exciting time for the U.S. aluminium industry. Aluminium has enormous opportunities and challenges in areas like global trade, recycling, climate and supply...
Hydro has announced in its 3Q2021 results that it produced 573,000 tonnes of primary aluminium in the said period. That was up by 2 per cent from 561,000 tonnes in Q2 2021 and 10 per cent higher than 522,000 tonnes in Q3 2020. Backed on the increase in production and surge in LME aluminium price, Hydro earned the revenue of NOK 36,710 million in Q3 2021, 6 per cent more than in Q2 2021 and 33 per cent higher than in Q3 2020. During the third quarter, the LME aluminium price skyrocketed to US$2,419 per tonne from US$2,210 per tonne in Q2 2021. In total nine months, Hydro churned out 1.673 million tonnes of primary aluminium as compared to 1.559 million tonnes a year ago. Hydro has reported that its adjusted EBITDA grew 100 per cent year-on-year to NOK 7,219 million in 3Q2021, of which NOK...
China’s social inventories of primary aluminium rose 25,000 tonnes week-on-week across eight major consumption areas, including SHFE warrants, to come in at 982,000 tonnes on Thursday, October 28. That marked the eighth consecutive week of rising, primarily contributed by higher arrivals of stocks in Wuxi, Shanghai, and Gongyi. Last week, on October 21, China’s primary aluminium inventories grew sharply by 70,000 tonnes from the previous week to close at 957,000 tonnes. The chart below indicates the current status of primary aluminium inventories across China in more detail: Primary aluminium inventories in Wuxi increased the highest this week by 17,000 tonnes to 341,000 tonnes, followed by the rise of 6,000 tonnes in Gongyi to close at 90,000 tonnes. In Hangzhou and Linyi, primary...
The Chinese power intense metals manufacturing sector straps under the oppression of a national power catastrophe, while the govt. sustains a restriction on smelting to achieve emissions targets. Besides the retrench of magnesium production, the other most power-intensive metal aluminium manufacturing sector in China has encountered a 2.3 million tonne downfall since the outset of the energy crisis in September 2021, when extensive power restriction dashed the nation during a rally to slash carbon emissions and diminish power generation. The price of aluminium touched and crossed $3,000 per tonne to a 13-year high in October 2021, the highest mark since 2008. However, before attaining the milestone, aluminium was usually priced in between $1,500 to $2,000 per tonne, though it has cooled...
On Thursday, October 28, both LME aluminium cash (bid) price and LME aluminium official settlement moved up by US$17 or by 0.62 percent to close at US$2,720.50 per tonne and US$2,721 per tonne respectively. 3-month bid price and 3-month offer price ascended to US$2,732 per tonne and US$2,733 per tonne. December 22 bid price and December 22 offer price was recorded at US$2,668 per tonne and US$2,673 per tonne. LME aluminium opening stock on October 28 closed at 1051350 tonnes. Live warrants stood at 625350 tonnes and cancelled warrants settled at 426000 tonnes. LME aluminium 3-month Asian Reference Price for Thursday, October 28, stood at US$2,682.55 per tonne. SHFE Aluminium Price Trend On Friday, October 29, the benchmark aluminium price for SHFE ascended by US$124 per tonne to total at...
A00 aluminium ingot price in China has jumped by RMB 860 per tonne to stand at RMB 20,200 per tonne on Friday, October 29, following incessant declines since October 22 from RMB 23,340 per tonne to RMB 19,340 per tonne, found the Shanghai Metals Market. The average prices are expected to range between RMB 20,180 per tonne and RMB 20,220 per tonne, with spot contract to be traded at a premium price of RMB 80-40 per tonne. In Hangzhou and Foshan, A00 aluminium ingot price is also standing at RMB 20,200 per tonne by gaining RMB 865 per tonne and RMB 860 per tonne, respectively, while the price in Wuxi and Linyi has hiked by RMB 850 per tonne and RMB 820 per tonne to close at RMB 20,190 per tonne and RMB 20,260 per tonne, respectively. In Gongyi, Tianjin, and Shenyang, primary aluminium ingot...
On 28 th October 2021, Ingrid Jörg chaired European Aluminium during the annual general assembly appealed for a stronger EU industrial policy, specifying the vital challenges of unfair trade practices and a lack of access to affordable green energy. The chairperson also welcomed six new members at this year’s Autumn Meetings. The aluminium industry association is celebrating its 40 th anniversary this year, now cast up over 95 members, representing more than 600 facilities across 30 European countries. The 2021 General Assembly of the voice of the aluminium value chain in Europe, European Aluminum observed its 40 years of industry collaboration, a vital event for the European aluminium industry, executives and experts manifested on the development of the European aluminium industry and...
National Aluminium Company Limited (NALCO) has yet again cut its aluminium ingot price significantly, with effect from Thursday, October 28. In tandem with the incessant decline in LME aluminium benchmark price, NALCO has reduced its ingot price by INR 19,100 per tonne from INR 253,350-256,850 per tonne to INR 234,250-237,750 per tonne. On the previous day, October 23, NALCO’s aluminium ingot price had seen a slash of INR 18,500 per tonne or 6.8 per cent. NALCO’s aluminium wire rod price has also witnessed a sharp cut of INR 19,100 per tonne or 7.4 per cent to INR 236,750-241,100 per tonne. The company’s aluminium billets price is currently standing at INR 237,700-240,350 per tonne after being reduced from INR 256,800-259,450 per tonne. NALCO links its aluminium ingot and aluminium...
The body advocating for enterprise and promoting the voice of thousands of businesses across New Zealand, BusinessNZ said: “We should be grateful Tiwai Aluminium smelter is still here, rather than blaming it for higher power prices.” However, the New Zealand Electricity Authority, the independent Crown entity responsible for the regulation of the electricity market stated that each household pays around NZ$200 per year more, because of the Meridian Energy deal supplying Tiwai aluminium smelter cheap electricity. Tina Schirr, Executive Director Energy and Innovation, BusinessNZ Energy Council said: “Higher costs have been mainly because of low water, and a lack of gas and wind supply.” She further added: “A lot of people were keen for Tiwai aluminium (NZAS) to stay on to secure jobs and...
Three-month LME aluminium opened at US$2,835 per tonne on Wednesday morning and closed at US$2,665.50 per tonne, down US$166.50 per tonne or 5.88 per cent. LME aluminium cash (bid) price and LME aluminium official settlement price have recorded a sharp fall of US$127 per tonne to stand at US$2,703.50 per tonne and US$2,704 per tonne, respectively, on Wednesday, October 27. 3-month bid price and 3-month offer price moved down to US$2,724.50 per tonne and US$2,725 per tonne. December 22 bid price and December 22 offer price hovered around US$2,673 per tonne and US$2,678 per tonne. LME aluminium opening stock on October 27 stood lower at1055300 tonnes. Live warrants remained restrained at 621150 tonnes, while cancelled warrants decreased to 434150 tonnes. LME aluminium 3-month Asian...
A00 aluminium ingot price in China has nosedived by RMB 1,140 per tonne to come below RMB 20,000 per tonne on October 28. According to the Shanghai Metals Market, the price is standing at RMB 19,340 per tonne, with average prices likely to range between RMB 19,320 per tonne and RMB 19,360 per tonne, with spot contract to be traded at a premium price of RMB 70-30 per tonne, up by RMB 30 per tonne from the previous day. In Shenyang, the primary aluminium ingot price has plummeted by RMB 1,055 per tonne to stand at RMB 19,490 per tonne, while the price in Foshan and Chongqing has plunged by RMB 1,050 per tonne to come in at RMB 19,340 per tonne and RMB 19,330 per tonne, respectively. In Hangzhou, A00 aluminium ingot price has seen a decrease of RMB 1,145 per tonne to RMB 19,335 per tonne,...
Three-month LME aluminium opened at US$2,893 per tonne on Tuesday morning and closed at US$2,832 per tonne, down US$64.50 per tonne or 2.23 per cent. LME aluminium cash (bid) price and LME aluminium official settlement price plunged for the sixth day in a row by US$86 per tonne to stand at US$2,830.50 per tonne and US$2,831 per tonne, respectively, on Tuesday, October 26. 3-month bid price and 3-month offer price settled at US$2,844 per tonne and US$2,844.50 per tonne. December 22 bid price and December 22 offer price hovered around US$2,767 per tonne and US$2,772 per tonne. LME aluminium opening stock on October 26 stood at 1064425 tonnes. Live warrants for the same day totalled 621150 tonnes, while cancelled warrants stood at 443275 tonnes. LME aluminium 3-month Asian Reference Price...
A00 aluminium ingot price in China has registered a decline yet again by RMB 380 per tonne to stand at RMB 20,480 per tonne on Wednesday, October 27, found the Shanghai Metals Market. The average prices are expected to range between RMB 20,460 per tonne and RMB 20,500 per tonne, with spot contract to be traded at a premium price of RMB 100-60 per tonne. In Gongyi and Foshan, primary aluminium ingot price has plunged by RMB 390 per tonne and RMB 380 per tonne, respectively, to come in at RMB 20,400 per tonne and RMB 20,490 per tonne, while the price in Shenyang has shrunk by RMB 375 per tonne to peg at RMB 20,545 per tonne. In Wuxi, Hangzhou, and Chongqing, A00 aluminium ingot price has declined by RMB 370 per tonne to close at RMB 20,480 per tonne, and the price in Tianjin and Linyi has...
On 26 th October 2021, an international aluminium industry body stated that around $1.5 trillion of investment is necessitated to decarbonise power supplies used to produce aluminium, so the sector can initiate achieving the United Nations climate goals. During an online presentation, the only body representing the global primary aluminium industry, the International Aluminium Institute (IAI) said: “But that huge investment is only a portion of the funds needed so the output of aluminium, one of the most energy-intense metals, can cut emissions by 2050.” IAI further added: “Around 60% of the aluminium sector's emissions are from the production of electricity consumed in the smelting process, but the investment is also needed to shift to green hydrogen, deploy carbon capture and boost...
