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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On Monday, July 25, LME aluminium cash bid price and LME aluminium official settlement price started the week with a downfall of US$28 per tonne and US$28.5 per tonne, respectively, to stand at US$2,431 per tonne and US$2,431.50 per tonne. On Tuesday, the prices increased by US$4 per tonne and US$5.50 per tonne to come in at US$2,435 per tonne and US$2,437 per tonne, which, however, nosedived the next day by US$45 per tonne and US$46.50 per tonne to US$2,390 per tonne and US$2,390.50 per tonne, respectively. On Thursday, the prices stopped at US$2,457 per tonne and US$2,458 per tonne, up by US$67 per tonne and US$67.50 per tonne. On Friday, July 29, both LME aluminium cash bid price and LME aluminium official settlement price again dropped on an alternate day by US$7 per tonne and US$6...
The Central European nation, Slovakia's sole aluminium producer, Slovalco, which Hydro majorly owns, will be laying-off its maximum number of employees due to higher fuel and emissions constraints and lower aluminium prices. As a result, the company's stakeholders are considering shutting down its aluminium smelter completely. As per our regional report, around 300 employees of the company out of 450 will be unemployed. The Žiar nad Hronom-based aluminium company said, "the final number of laid-off employees remains uncertain. A further 2,500 jobs in the region that are tied to aluminium manufacturing are now at risk." The layoff and production curb information has already been floated inside the aluminium producer's site. Even though Milan Vesel, Slovalco's CEO, has warned about the...
According to the Shanghai Metals Market, primary aluminium inventories in China witnessed an augmentation of 3,000 tonnes week-on-week across eight major consumption areas, including SHFE warrants. Therefore, on Thursday, July 28, the inventories totalled 671,000 tonnes, which in comparison with the month’s third Monday, July 18, shrunk by 11,000 tonnes. As of now, the inventories in June dropped by 88,000 tonnes as recorded in the same period last year. China’s weekly ingot inventory was holding a balanced outlook, with varied dynamics in different areas. The ingot inventory in Gongyi decreased due to delayed arrivals from Xinjiang but is estimated to rise since all the cargos are already in logistics. The inventory saw a minor rise as some local houses were supplying the requirement....
Vedanta Limited has lifted its aluminium ingot and aluminium products prices, with effect from Friday, July 29, following a cut on the previous day, July 28. On Friday, Vedanta’s aluminium ingot price has come in at INR 226,000-257,500 per tonne, up by INR 5,250 per tonne or 2.38 per cent from the previous day. On July 28, the price stood at 220,750-252,250 per tonne, reflecting a slash of INR 3,250 per tonne. Vedanta’s aluminium wire rod price has also been raised by INR 5,250 per tonne on July 29 from INR 228,250-235,750 per tonne to INR 233,500- 241,000 per tonne. Similar to the ingot price, Vedanta’s aluminium wire rod price on July 28 saw a cut of INR 3,250 per tonne. The company is currently selling its aluminium billets at INR 235,000 per tonne, with effect from July 29, compared...
On Friday, July 29, China’s A00 aluminium ingot price has augmented by RMB 260 per tonne to settle at RMB 18,620 per tonne. The average price for the same is expected to orbit between RMB 18,600 per tonne and RMB 18,640 per tonne, with spot contracts to be traded at a discount price of RMB 50 to RMB 10 per tonne. A substantial increment has been observed in all the provinces in China, with Gongyi and Wuxi witnessing the highest increment by RMB 270 per tonne, to halt at RMB 18,520 per tonne and RMB 18,610 per tonne. The price in Hangzhou has also recorded the same hike to rest at RMB 18,650 per tonne. As per the SMM data, the price of Linyi has spiked by RMB 260 per tonne to score at RMB 18,620 per tonne. On the same day, the A00 aluminium ingot price in Shenyang and Chongqing has hiked...
LME aluminium opened at US$2,430 per tonne on Thursday and closed at US$2,465 per tonne, an increase of US$39 per tonne or 1.61 per cent. LME aluminium cash bid price stopped at US$2,457 per tonne, with a 2.8 per cent or US$67 per tonne escalation on Thursday, July 28, while LME aluminium official settlement price rested at US$2,458 per tonne, experiencing a price hike of 2.82 per cent or US$67.50 per tonne. 3-month bid price grew by 2.51 per cent or US$60 per tonne to stand at US$2,445.50 per tonne, while the 3-month offer price witnessed a US$59.50 per tonne or 2.49 per cent boost to US$2,446 per tonne. December 23 bid price and December 23 offer price climbed up the graph by US$58 per tonne or 2.4 per cent to rest at US$2,485 per tonne and US$2,490 per tonne, respectively. LME...
As it has already been announced, the ICSOBA 2022 conference will take place in Athens, Greece under the host sponsorship of Mytilineos from 11 to 13 October. The Radisson Blu Park Hotel located right in the center of Athens was booked for the event. The hybrid format of the conference will allow you to participate whether you choose to travel to Athens or join the event online. As in the past years a classical conference format is planned with speakers physically attending and presenting their papers to the audience. The program will have over 120 technical presentations and 10 high profile keynote speakers from leading global companies and institutions. The ICSOBA 2022 will focus on sustainable development and carbon footprint reduction in several domains. Three streams (two streams...
According to the latest data found by the US Geological Survey, the United States produced 82,000 tonnes of primary aluminium in April 2022, which was down by 2,000 tonnes from the output in March. But on a year-on-year basis, the output recorded a surge of 10,000 tonnes or 13.9 per cent from 72,000 tonnes. The daily average production in April came in at 2,740 tonnes, almost unchanged from 2,730 tonnes in March but up by 13.69 per cent from 2,410 tonnes a year ago. Total aluminium recovered from scrap in April 2022 was 288,000 tonnes versus 290,000 tonnes in March 2022 and 263,000 tonnes in April 2021. That displayed a month-on-month increase of 2,000 tonnes and a year-on-year rise of 25,000 tonnes, according to USGS data. Of the total aluminium recovered from scrap, 155,000 tonnes of...
According to a report on July 28, The Tiwai Point aluminium smelter, owned by Rio Tinto and the Sumitomo Group via joint venture New Zealand Aluminium Smelters Limited (NZAS), has begun corresponding with power companies to be able to continue operations beyond 2024. "There is lots of work to do, but we believe there is a positive pathway to securing a long-term presence for the smelter," NZAS chief executive Chris Blenkiron said. He also said that assurance of job retention was important for the staff and the people of Southland. Meridian, the New Zealand’s largest renewable energy generator, said in a statement that it would consider entering into a contract for power supply to the Tiwai smelter. Previously, Meridian’s chief executive Neal Barclay said it would not further provide power...
A00 aluminium ingot price has seen a substantial hike of RMB 330 per tonne to begin the week at RMB 18,360 per tonne, as recorded by the Shanghai Metals Market on Thursday, July 28. The average prices are expected to range between RMB 18,340 per tonne and RMB 18,380 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 Foshan by RMB 340 per tonne to RMB 18,280 per tonne. The primary aluminium prices in Wuxi and Hangzhou have gained RMB 320 per tonne to rest at RMB 18,340 per tonne and RMB 18,380 per tonne, respectively. The price in Chongqing has grown by RMB 310 per tonne to halt at RMB 18,330 per tonne. Shenyang has seen...
LME aluminium opened at US$2,423.5 per tonne on Wednesday and closed at US$2,426 per tonne, an increase of US$4 per tonne or 0.17 per cent. On Wednesday, July 27, LME aluminium cash bid price declined by US$45 per tonne or 1.84 per cent to settle at US$2,390 per tonne. On the same day, LME aluminium official settlement price also plunged by US$46.5 per tonne or 1.90 per cent to rest at US$2,390.50 per tonne. As per the LME data, 3-month bid price dropped by US$39.5 per tonne or 1.62 per cent to stand at US$2,385.50 per tonne. 3-month offer price plunged by US$40.5 per tonne or 1.66 per cent to halt at US$2,386.50 per tonne. Both December 23 bid price and December 23 offer price slumped by US$40 per tonne to peg at US$2,427 per tonne and US$2,432 per tonne. LME aluminium opening stock was...
LME aluminium opened at US$2,406.5 per tonne on Tuesday and closed at US$2,422 per tonne, an increase of US$14 per tonne or 0.58 per cent. LME aluminium cash bid price stopped at US$2,435 per tonne, with a 0.16 per cent or US$4 per tonne escalation on Tuesday, July 26, while LME aluminium official settlement price rested at US$2,437 per tonne, experiencing a price hike of 0.23 per cent or US$5.50 per tonne. The 3 month bid price dropped by US$6 per tonne or 0.25 per cent to USD2,425 per tonne, while the offer price shed US$5 per tonne or 0.2 per cent to USD2,427 per tonne. December 23 bid price and December 23 offer price plummeted by US$3 per tonne or 0.12 per cent to rest at US$2,467 per tonne and US$2,472 per tonne, respectively. LME aluminium opening stock continued to shrink by 1.27...
On Wednesday, July 27, China’s A00 aluminium ingot price has heightened by RMB 190 per tonne to settle at RMB 18,030 per tonne. The average prices for the same is expected to range between RMB 18,010 per tonne and RMB 18,050, with spot contracts trading at a discount price of RMB 30 per tonne and a premium price of RMB 10 per tonne. The A00 aluminium ingot price has experienced a hike in all the major Chinese provinces. A price surge of RMB 200 per tonne has been observed in Tianjin, where the price settled at RMB 18,060 per tonne, followed by a price hike of RMB 180 per tonne in Wuxi. As per the SMM data, the price in Hangzhou and Chongqing has grown by RMB 170 per tonne to record at RMB 18,060 per tonne and RMB 18,020 per tonne, respectively. In Linyi and Foshan, the price witnessed a...
Hindalco Industries Limited has trimmed its aluminium ingot and aluminium products prices, with effect from July 26, after raising the prices on the previous day, July 23. Hindalco has cut INR 2,500 per tonne from INR 228,750 per tonne to sell the aluminium ingot price at INR 226,250 per tonne from July 26. Hindalco’s aluminium wire rod price has also witnessed a downfall of INR 2,500 per tonne on July 26 from INR 239,850 to INR 237,350 per tonne. Aluminium billet price has come in at INR 240,350 per tonne versus INR 242,850 per tonne as of July 23. Hindalco Industries links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which shrank by US$28.50 per tonne on Monday, July 25, to stand at US$2,431.50 per tonne....
According to the Shanghai Metals Market, social inventories of primary aluminium gained 3,000 tonnes over the weekend across eight major consumption areas, including SHFE warrants. After several consecutive weeks of fall, primary aluminium inventories built-up to stand at 671,000 tonnes, but 111,000 tonnes lower than in the same period last year and 11,000 tonnes down week-on-week. Inventories increased on Monday as trades in the spot market declined slightly after aluminium prices rebounded last week. The weekly shipments out of warehouses in Foshan, Wuxi, and Gongyi were in a downtrend. The chart below indicates the current status of primary aluminium inventories across China in more details: In Wuxi, primary aluminium inventories accumulated by 5,000 tonnes over the weekend to come in...
A00 aluminium ingot price has witnessed no alteration today, remaining stoic at RMB 17,840 per tonne, as recorded by the Shanghai Metals Market on Tuesday, July 26. The average prices ranged between RMB 17,820 per tonne and RMB 17,860 per tonne, with spot contracts trading at a discount price of RMB 30 per tonne and a premium price of RMB 10 per tonne. The provinces in China have witnessed minor changes in aluminium prices today, with A00 aluminium ingot price rising the highest in Shenyang by RMB 30 per tonne to settle at RMB 17,870 per tonne, followed by RMB 20 per tonne spike in Linyi to RMB 17,920 per tonne. The primary aluminium prices in Gongyi and Tianjin lost RMB 10 per tonne to close at RMB 17,830 per tonne and RMB 17,860 per tonne. The primary aluminium prices in Foshan, Wuxi,...
LME aluminium opened at US$2,459 per tonne on Monday and closed at US$2,408 per tonne, down US$51 per tonne or 2.07 per cent. On Monday, July 25, LME aluminium cash bid price stood at US$2,431 per tonne, and LME aluminium official settlement price closed at US$2,431.50 per tonne. Both the prices experienced a decline of US$28 per tonne or 1.13 per cent and US$28.5 per tonne or 1.15 per cent. On the same day, the 3-month bid price and 3-month offer price also dropped by US$26 per tonne or 1.05 per cent and US$25.5 per tonne or 1.03 per cent to rest at US$2,431 per tonne and US$2,432 per tonne. December 23 bid price and December 23 offer price climbed down the graph by US$25 per tonne or 1 per cent to halt at US$2,470 per tonne and US$2,475 per tonne. LME aluminium opening stock closed at...
Primary aluminium production in Africa during the second quarter of 2022 stood at 406,000 tonnes, up by 9,000 tonnes or 2.28 per cent from 397,000 tonnes in the first quarter of the year ended March 31. On a year-on-year basis, the output stood 10,000 tonnes or 2.52 per cent higher than 396,000 tonnes. In June 2022, primary aluminium production in Africa came in at 137,000 tonnes, down by 1,000 tonnes a month ago. In May, primary alumuminium output in Africa was 138,000 tonnes, up by 7,000 tonnes or 5.34 per cent from 131,000 tonnes in April. On a year-on-year basis, Africa’s primary aluminium production in June 2022 stood 5.38 per cent or 7,000 tonnes higher than 130,000 tonnes. In the first half of the year, Africa’s primary aluminium output totalled 803,000 tonnes, 2.82 per cent or...
