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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Vedanta Limited has reduced its aluminium ingot and aluminium products prices for the third successive day on Thursday, August 4. The company’s aluminium ingot price has seen a cut of INR 3,250 per tonne to INR 218,750- 250,250 per tonne, which on August 3 witnessed a decline of INR 2,750 per tonne to INR 222,000- 253,500 per tonne. Vedanta’s aluminium wire rod price has also been cut by INR 3,250 per tonne on August 4 to INR 226,250- 233,750 per tonne. On August 3, the price stood at INR 229,500- 237,000, reflecting a downfall of INR 2,750 per tonne from INR 232,250-239,750 per tonne. With effect from August 4, the company’s aluminium billet price has come in at INR 227,750 per tonne versus INR 231,000 per tonne on August 3. Vedanta has been reducing its aluminium ingot and aluminium...
LME aluminium opened at US$2,405 per tonne on Wednesday and closed at US$2,385 per tonne, down US$29 per tonne or 1.2 per cent. LME aluminium cash bid price stopped at US$2,402.50 per tonne, while LME aluminium official settlement price rested at US$2,403 per tonne with a 1.86 per cent or US$45.50 per tonne decline on August 3. 3-month bid price and 3-month offer price dropped by 1.48 per cent or US$36 per tonne to stand at US$2,400 per tonne and US$2,401 per tonne. December 23 bid price and December 23 offer price climbed down the graph by US$30 per tonne or 1.21 per cent to rest at US$2,445 per tonne and US$2,450 per tonne, respectively. LME aluminium opening stock continued to decrease by 0.71 per cent or 2,100 tonnes, from 296,650 tonnes to 294,550 tonnes as of August 3. Live warrants...
As per the SMM data, on Thursday, August 4, China’s A00 aluminium ingot price has grown by RMB 170 or 0.93 per cent to halt at RMB 18,390 per tonne. The average price for the same is expected to range between RMB 18,370 per tonne and RMB 18,410 per tonne, with spot contracts to be traded at a discount price of RMB 70-30 per tonne. The price in Shenyang has surged the highest by RMB 180 per tonne to settle at RMB 18,340 per tonne. On the same day, the price in Linyi has augmented by RMB 170 per tonne to come in at RMB 18,440 per tonne. As per the SMM data, the price in Foshan, Hangzhou and Chongqing has soared by RMB 160 per tonne to rest at RMB 18,280 per tonne, RMB 18,410 per tonne and RMB 18,340 per tonne. In Wuxi and Gongyi, the price has escalated by RMB 150 per tonne and RMB 140 per...
National Aluminium Company Limited has trimmed its aluminium ingot price, with effect from August 1, following an escalation of INR 11,300 per tonne on July 21. The price has slipped by only INR 1,000 per tonne to come in at INR 226,650-230,150 per tonne from INR 227,650-231,150 per tonne. But the company’s product prices have recorded no change since the hike on July 21. Both aluminium wire rod price and aluminium billets price have remained restrained at INR 230,150-234,500 per tonne and INR 231,100-233,750 per tonne, respectively. NALCO links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which stood range-bound even after many ups and downs between July 20 and 29. As per the LME data, the price only inched down...
A00 aluminium ingot price has seen an escalation of RMB 50 per tonne to begin the week at RMB 18,220 per tonne, as recorded by the Shanghai Metals Market on Wednesday, August 3. The average prices are expected to range between RMB 18,200 per tonne and RMB 18,240 per tonne, with spot contracts to be traded at a discount price of RMB 50 per tonne and RMB 10 per tonne. The provinces in China have witnessed booming prices today, with A00 aluminium ingot prices rising the highest in Linyi by RMB 100 per tonne to RMB 18,270 per tonne. The primary aluminium price in Tianjin has gained RMB 70 per tonne to rest at RMB 18,220 per tonne. The prices in Gongyi, Foshan and Chongqing have grown by RMB 60 per tonne to halt at RMB 18,170 per tonne, RMB 18,120 per tonne and RMB 18,180 per tonne. The prices...
Hindalco Industries Limited has slashed its aluminium ingot and aluminium products prices, with effect from August 3, 2022. The company has reduced its ingot price by INR 4,250 per tonne or 1.86 per cent to INR 224,000 per tonne on August 3. On July 29, the price came in at INR 228,250 per tonne, seeing a hike of INR 5,500 per tonne from the previous day. Hindalco’s aluminium wire rod price is now standing at INR 235,100 per tonne, experiencing a cut of INR 4,250 per tonne as well from July 29. Aluminium billets price has recorded at INR 238,100 per tonne as of August 3 versus INR 242,350 per tonne on July 29. Hindalco Industries links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which dropped by US$21 per tonne on...
LME aluminium opened at US$2,445.5 per tonne on Tuesday and closed at US$2,414 per tonne, down US$36 per tonne or 1.47 per cent. On Tuesday, August 2, both LME aluminium cash bid price and LME aluminium official settlement price declined by US$21 per tonne or 0.85 per cent to halt at US$2,448 per tonne or US$2,448.50 per tonne. 3-month bid price and 3-month offer price dropped by US$11.5 per tonne or 0.46 per cent and US$51 per tonne or 2.04 per cent to rest at US$2,436 per tonne and US$2,437 per tonne. December 23 bid price and December 23 offer price also plunged by US$12 per tonne or 0.48 per cent to score at US$2,475 per tonne and US$2,480 per tonne. LME aluminium opening stock halted at 296650 tonnes. Live warrants and Cancelled warrants for the same day stood at 154800 tonnes and...
The data gathered in customs said that in June 2022, China witnessed a decrease of 37.95 per cent from the last month and 16.48 per cent from the same time span the previous year to close its export volume of prebaked anodes at 131,000 tonnes, which is still the lowest in the year. Yet, the customs also notified that its export price per unit for prebaked anode has elevated to a record number of US$1,316.67 per tonne. In 2022, the total exports by China have accumulated at 1,017,300 tonnes, which records a year-on-year volume rise of 26.69 per cent. Since there has been no news of obstruction in the daily activities of the international aluminium factories, it can be well deciphered that this crunch in volume has been orchestrated by the delayed cycles of ship and logistics. The prebaked...
China’s social inventories of primary aluminium continued to increase by 7,000 tonnes week-on-week as of Monday, August 1, found the Shanghai Metals Market. The inventories grew across eight major consumption areas, including SHFE warrants, to clock at 678,000 tonnes. However, compared to the same period last year, the inventories stood down by 81,000 tonnes, showed SMM data. Given the poor willingness to purchase, primary aluminium social inventories are likely to grow further after shipments arrive in the future. The chart below indicates the current status of primary aluminium inventories across China in more details: SMM data also showed that the increase in primary aluminium inventories could not touch upon all the provinces of China. Only Nanhai, Hangzhou, and Tianjin witnessed a...
On Monday, August 1, Century Aluminum Company reported joining Gerald "Jerry" Bialek as its new Executive Vice President and Chief Financial Officer. Before joining Century Aluminum, he worked with Cooper Tire & Rubber Company as Chief Financial Officer, Vice President and Treasurer. Mr Bialek worked for 25 years in increasingly senior roles with Ford Motor Company, Amcor Rigid Plastics, and Johnson Controls before joining Cooper Tire in 2014. Here at Century Aluminum, Mr Bialek will start working on August 22, 2022, and will directly report to Jesse E. Gary, the company's Chief Executive Officer (CEO). Apart from this, Mr Bialek holds an M.B.A. degree from Oakland University and is a graduate of the University of Michigan. “Throughout his career, Jerry has demonstrated proficiency in...
LME aluminium opened at US$2,481.5 per tonne on Monday and closed at US$2,450 per tonne, a drop of US$32.5 per tonne or 1.31 per cent. LME aluminium cash bid price stopped at US$2,469 per tonne, with a 0.77 per cent or US$19 per tonne escalation to begin the week on August 1, while LME aluminium official settlement price rested at US$2,469.50 per tonne, experiencing a price hike of 0.71 per cent or US$17.50 per tonne. 3-month bid price and 3-month offer price grew by 0.41 per cent or US$10 per tonne to stand at US$2,447.50 per tonne and US$2,488 per tonne. December 23 bid price and December 23 offer price climbed up the graph by US$9 per tonne or 0.36 per cent to rest at US$2,487 per tonne and US$2,492 per tonne, respectively. LME aluminium opening stock continued to decrease by 1 per...
Following a hike for three consecutive days from July 27 to July 29, China’s A00 aluminium ingot price dropped on Monday and Tuesday. As of August 2, the primary aluminium ingot price declined further by RMB 130 per tonne to rest at RMB 18,170 per tonne. The average price for the same is expected to orbit between RMB 18,150 per tonne and RMB 18,190 per tonne, with spot contract likely to be traded at a discount price of RMB 40 per tonne and a premium price of RMB 0 per tonne. The primary aluminium ingot price has experienced a downfall in all the Chinese provinces, with the highest being at Linyi. The price in Linyi has plummeted by RMB 210 per tonne to close at RMB 18,170 per tonne, followed by the price in Shenyang, which has plunged by RMB 170 per tonne to halt at RMB 18,160 per tonne....
As per the latest reports, on July 29, line 2 at Hydro's partially-owned aluminium facility in Brazil, Albras, was resumed fully. The production line was closed on February 19, 2022, due to an internal power distribution failure. A full closure of line 2 caused by the power outage resulted in a 25 per cent reduction in Albras' primary aluminium production. Albras has fully resumed production at the potline and is currently operating at its maximum annual capacity of 460,000 tonnes. The power distribution breakdown had affected only one potline at Albras, which caused it to shut down. Due to the outrage, the affected potline generated 110,000 tonnes of liquid aluminium yearly. Nippon Amazon Aluminium Co. Ltd. owns the remaining 49 per cent of Albras, with Norsk Hydro owning 51 per cent of...
Russia is reportedly willing to build connectivity, capital markets, and financial infrastructure with India, similar to the model built over decades with Europe. According to Russian aluminium tycoon Oleg Deripaska, this relation will benefit both the countries, accentuating bilateral trade to $120-150 billion over the next decade. Over the several decades, Russia has been having trade relations with Europe, achieving annual bilateral trade from 750 billion to 1 trillion, said the founder of aluminium giant Rusal. Prior to this economic cooperation, Russia and Europe were involved in a 12-year integration process, wherein the countries built common transport, financial and debt infrastructure, and harmonised trade procedures. Deripaska further said in a statement that the two countries...
LME aluminium opened at US$2,462 per tonne last Friday and closed at US$2,482.5 per tonne, an increase of US$17.5 per tonne or 0.71 per cent. After witnessing a hike the previous day, both LME aluminium cash bid price and LME aluminium official settlement price slumped by US$7 per tonne or 0.28 per cent and US$6 per tonne or 0.24 per cent on Friday, July 29. The price for the former closed at US$2,450 per tonne, while the latter stood at US$2,452 per tonne. 3-month bid price and 3-month offer price also declined by US$8 per tonne or 0.32 per cent to peg at US$2,437.50 per tonne and US$2,438 per tonne. December 23 bid price and December 23 offer price slipped by US$7 per tonne or 0.28 per cent to rest at US$2,478 per tonne and US$2,483 per tonne. LME aluminium opening stock halted at...
A00 aluminium ingot price in China has plummeted by RMB 320 per tonne after three consecutive days of rally from RMB 17,840 per tonne to RMB 18,620 per tonne, found the Shanghai Metals Market. As of Monday, August 1, the primary aluminium ingot price has come in at RMB 18,300 per tonne, with average prices expected to range between RMB 18,280 per tonne and RMB 18,320 per tonne. The spot contract is likely to be traded at a discount price of RMB 40 per tonne and premium price of RMB 10 per tonne. In Foshan and Wuxi, A00 aluminium ingot price has plunged by RMB 330 per tonne to RMB 18,180 per tonne and RMB 18,280 per tonne, followed by the decrease of RMB 310 per tonne in Hangzhou to RMB 18,340 per tonne. In Tianjin and Gongyi, primary aluminium ingot price has shrunk by RMB 270 per tonne...
Some of the important events spotted under the global primary aluminium segment are the news of the Tiwai Point aluminium smelter in talks with power companies to continue operations beyond 2024. The Tiwai Point aluminium smelter, which Rio Tinto and the Sumitomo Group control through the joint venture New Zealand Aluminium Smelters Limited (NZAS), has reportedly started talking with electricity providers. Next in line is the news of Scottish government officials being criticised for their lack of openness when it was claimed that metal tycoon Sanjeev Gupta, who is being investigated for fraud, contributed only $5 to the $330 million purchase of a smelting facility in the Highlands. Under the market segment, LME aluminium's official price opened the week with a decline of US$28.5 per...
The People’s Republic of China has some reports that display that the country’s aluminium output is estimated to continue at a high level. However, the price of this non-ferrous metal is heavily being downsized around the area. According to Antaike, a metals research organization under the state, China’s aluminium producers will close the Q3 with a production rate of 10.42 million tonnes, outdoing the previous quarter’s total production ratio of 10.11 million tonnes. Data suggests that the fourth quarter might have a production rate of 10.54 million tonnes. On the other hand, aluminium spot prices at the Shanghai Futures Exchange continue to sledge down the graph. August aluminium contracts are speculated at US$2,558 per tonne towards halfway through the month, with prices being the...
