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 17th September 2021, the Indian state-run coal exploitation and refining company, Coal India Limited (CIL) explicated that supply of the dry fossil fuel to the non-power sector like aluminium, steel, etc. has been diminished, but not completely ceased, as professed by some sectors. As reported by a senior official of CIL, the course of action has been taken to consummate emergency demands for power plants as the country encounters a coal crisis. The CIL official added: “We are regulating supply to meet the sudden jump in demand of coal from the power sector but have not stopped it to non-power consumers. Our daily supplies are more than 2 lakh tonnes to non-power industries against the normal supply of around 3 lakh tonnes.” The Indian manufacturers from various sectors proclaimed...
Three-month LME aluminium opened at US$3,127 per tonne last Friday and closed at US$3,175 per tonne, up 1.15 percent. LME aluminium cash (bid) price moved up by US$10.5 or by 0.33 percent to score at US$3,162 per tonne. LME aluminium official settlement price for the same day ascended by US$11 or by 0.34 percent to settle at US$3,163 per tonne. 3-month bid price and 3-month offer price was recorded at US$3,185 per tonne and US$3,158.50 per tonne. December 22 bid price closed at US$3,013 per tonne and the offer price for the same day settled at US$3,018 per tonne. LME aluminium opening stock for October 15 settled at 1118325 tonnes. Live warrants for the same day closed at 625750 tonnes and cancelled warrants settled at 492575 tonnes. LME aluminium 3-month Asian Reference Price for Friday,...
On 11th October 2021, the London Metal Exchange witnessed the surge of aluminium price as it crossed the $3000 per tonne mark, the highest since July 2008. The mounting pressure on the aluminium sector indicated, as the global metals world prepared to gather in London for the annual LME Week. However, for now, it is also predicted that in the next 12 months prices could hit $3400 per tonne. The stock price of India’s integrated aluminium company Nalco observed a flight of 7% after the data revealed that ace Indian market expert Rakesh Jhunjhunwala acquired a 1.36% stake. Hongqiao’s Chairman Zhang Bo said that they have rolled back the relocation idea due to power restrictions, while 1 million tonnes of capacity had started in Wenshan last year. On 11th October 2021, Hilde Merete Aasheim,...
The LME aluminium benchmark price opened the week on Monday, October 11, at a new milestone of US$3,020 per tonne, a sharp increase of US$118 per tonne from the previous day. The price continued to grow throughout the week to end at US$3,163 per tonne on Friday, October 15. During October 12-14, the LME aluminium price trended up from US$3,052 per tonne to US$3,152 per tonne. 3-month bid price and 3-month offer price jumped from US$3,033 per tonne and US$3,034 per tonne on Monday to US$3,185 per tonne on Friday, October 15. December 22 bid price and December 22 offer price climbed from US$2,903 per tonne and US$2,908 per tonne to US$3,013 per tonne and US$3,018 per tonne. LME aluminium opening stock decreased from 1150225 tonnes to 1118325 tonnes through the week. SHFE Aluminium Price...
The shares of the Govt. of India equity hold majority enterprise, National Aluminium Company Ltd (NALCO) has aroused by approximately 7% following its shareholding pattern data for September quarter revealed an expert investor Rakesh Jhunjhunwala stake. The Government of India holds 51.28% in Nalco, with public shareholding comprising the rest. As per the data of the September quarter, the Indian business magnate and investor, who manages his own portfolio as a partner in his asset management firm, Rare Enterprises Rakesh Jhunjhunwala has acquired a 1.36% stake or 25 million in Nalco. Notwithstanding, the buying price of the Nalco stake by Jhunjhunwala and the date of the purchase are yet to be disclosed. The brokerage firm JP Morgan has elevated the integrated aluminium company to...
Rusal, the Russian aluminium giant and the world’s largest aluminium producer outside China, has reportedly planned to supply 300,000-400,000 tonnes of metal to China in 2021. Compared to the year last, the volume has remained essentially the same. Roman Andryushin, the company's head of sales in Russia, the CIS, and China, said that Rusal would significantly increase the sales to China next year. China is the world’s largest aluminium producer and usually has little demand for overseas supplies. But due to the recovery in domestic demand after the COVID-19 pandemic in comparison with production, China had to import a considerable amount of aluminium last year. Andryushin also noted that Rusal’s total production of aluminium would increase to around 4.3 million tonnes in 2022 due to the...
Environment Southland is spearheading a project to determine the extent and effect of pollution at Tiwai Point, which involves analysing the complete site investigation (DSI) report shared by New Zealand Aluminium Smelters. The DSI study, which details the pollutants discovered at the Tiwai Point aluminium smelter, is an important part of Environment Southland's efforts. According to Rob Phillips, the chief executive of Environment Southland, the DSI report was received by the council in August 2021. Since then, EHS Support, the council's environmental experts, has been analysing the data and will present their findings in late October. "This report is an important part of our broader work programme to determine the extent of contamination at the site. We know there will be further...
According to the Shanghai Metals Market, China’s social inventories of primary aluminium grew this week by 25,000 tonnes across eight major consumption areas, including SHFE warrants. On Thursday, October 14, inventories stood at 887,000 tonnes, primarily contributed by arrivals in Wuxi and Nanhai. Last week, on October 7, the inventories were settled at 862,000 tonnes, gaining 47,000 tonnes week-on-week. The chart below indicates the current status of primary aluminium inventories across China in more detail: In Wuxi, primary aluminium inventories have sharply increased by 13,000 tonnes week-on-week to come in at 296,000 tonnes. In Nanhai, the inventories have climbed by 6,000 tonnes to 268,000 tonnes, and that in Gongyi have grown by 3,000 tonnes to 72,000 tonnes. In Shanghai, Tianjin,...
Three-month LME aluminium opened at US$3,055 per tonne on Thursday morning and ranged between US$3,028-3,174 per tonne before closing at US$3,139 per tonne, up US$84 per tonne or 2.75 percent. On Thursday, October 14, LME aluminium cash (bid) price climbed up by US$76.5 or by 2.48 percent to settle at US$3,151.50 per tonne. LME aluminium official settlement price for the same day soared up by US$76 or by 2.47 percent to close at US$3,152 per tonne. 3-month bid price and 3-month offer price was recorded at US$3,171 per tonne and US$3,172 per tonne. December 22 bid price stood at US$3,002 per tonne and the offer price for the same day closed at US$3,007 per tonne. LME aluminium opening stock for October 14 was recorded at 1126550 tonnes. Live warrants for the same day settled at 629250...
A00 aluminium ingot price in China has soared by RMB 420 per tonne to close the week at RMB 23,650 per tonne on October 15, found the Shanghai Metals Market. The average prices are expected to range between RMB 23,630 per tonne and RMB 23,670 per tonne, with spot contract to be traded at a premium price of RMB 30-70 per tonne. In Wuxi, primary aluminium ingot price has grown the highest by RMB 515 per tonne to stand at RMB 23,765 per tonne, followed by the hike of RMB 490 per tonne in Hangzhou to also close at RMB 23,765 per tonne. In Shenyang and Chongqing, A00 aluminium ingot price has surged by RMB 480 per tonne and RMB 475 per tonne to peg at RMB 23,730 per tonne and RMB 23,715 per tonne, respectively. Aluminium alloy (A356) price has also soared by RMB 400 per tonne to stand at RMB...
On 14th October 2021, the institution that caters for the needs of the Indian Aluminium Industry, the Aluminium Association of India (AAI) pleaded to the Indian government-owned coal mining and refining corporation, Coal India Limited (CIL) for prompt resumption of coal supplies for the domestic aluminium industry stating that the ongoing severe crisis of the fossil fuel due to several factors has developed insecure circumstances. The statement has emerged at a situation when multiple power plants in the nation are encountering a scarcity of coal. The AAI in its letter to Pramod Agrawal, Chairman of CIL said: “Despite untiring efforts of MoC (Ministry of Coal) and CIL (Coal India Ltd) to support the industry, the current acute coal crunch due to various factors has created an immensely...
Three-month LME aluminium opened at US$3,040 per tonne on Wednesday morning and ranged between US$2,996-3,118.5 per tonne before closing at US$3,055 per tonne a drop of US$11 per tonne or 0.36 percent. On Wednesday, October 13, LME aluminium cash (bid) price ascended by US$24 or by 0.78 percent to total at US$3,075 per tonne. For the same day, LME aluminium official settlement price also increased by US$24 or by 0.78 percent to settle at US$3,076 per tonne. 3-month bid price and 3-month offer price closed at US$3,088 per tonne and US$3,089 per tonne. December 22 bid price was recorded at US$2,928 per tonne and the offer price for the same day stood at US$2,933 per tonne. LME aluminium opening stock for October 13 settled at 1128500 tonnes. Live warrants for the same day closed at 637425...
According to the Shanghai Metals Market, A00 aluminium ingot price in China has slipped by RMB 70 per tonne on Thursday, October 14, to come in at RMB 23,230 per tonne. The average prices are expected to range between RMB 23,210 per tonne and RMB 23,250 per tonne, with spot contract to be traded at a premium price of RMB 0-40 per tonne. Except for Tianjin and Linyi, the decrease in primary aluminium price has touched upon all the major cities in China. Both in Tianjin and Linyi, A00 aluminium ingot price has declined by RMB 180 per tonne to stand at RMB 22,800 per tonne. Wuxi has seen the sharpest fall of RMB 320 per tonne to stand at RMB 23,250 per tonne, followed by the plunge of RMB 305 per tonne in Hangzhou to come in at RMB 23,275 per tonne. In Foshan, A00 aluminium ingot price has...
On 13th October 2021, the Chairman of the world's largest aluminium producer, China Hongqiao Group stated that the company is deferring the plan to reposition aluminium capacity to Yunnan province precisely for energy restrictions imposed by the provincial government. The Chinese aluminium giant, Hongqiao planned to relocate 2 million tonnes of capacity to Wenshan prefecture and 1 million tonnes to Honghe prefecture in Yunnan province, which is almost half of its 6.46 million tonnes authorised annual primary aluminium capacity for uncomplicated access to hydropower, a move towards green. Hongqiao’s Chairman Zhang Bo said that they have rolled back the relocation idea due to power restrictions. However, 1 million tonnes of capacity had started in Wenshan last year. He further added, “The...
Three-month LME aluminium rose 0.79 percent to end at US$3,066 per tonne last night. On Tuesday, October 12, both LME aluminium cash (bid) price and LME aluminium official settlement price increased by US$32 or by 1.05 percent to settle at US$3,051 per tonne and US$3,052 per tonne. 3-month bid price and 3-month offer price totalled at US$3,072 per tonne and US$3,073 per tonne. December 22 bid price settled at US$2,928 per tonne and the offer price for the same day closed at US$2,933 per tonne. LME aluminium opening stock for October 12 closed at 1137675 tonnes. Live warrants for the same day were recorded at 637425 tonnes and cancelled warrant stood at 500250 tonnes. LME aluminium 3-month Asian Reference Price for Tuesday, October 12, settled at US$3,051.64 per tonne. SHFE Aluminium Price...
A00 aluminium ingot price witnessed a third-day rise in price as of the week. According to SMM, the primary aluminium ingot price has soared by RMB 90 per tonne to come in at RMB 23,330 per tonne. However, the average prices are expected to range between RMB 23,280 per tonne and RMB 23,320 per tonne, with spot contracts to be traded at a premium price of RMB 40-0 per tonne. In Hang Zhou the prices have surged the highest among other Chinese cities by RMB 360 per tonne to 23,580 per tonne, followed by Wu Xi the price climbed by RMB 350 to RMB 23,570 per tonne. A00 aluminium ingot price in Chong Qing shoot up by RMB 130 per tonne to RMB 23,310 per tonne, pursued by Shen Yang with a growth in price by RMB 120 per tonne to settle at RMB 23,320 per tonne. In Tian Jin, the price increases by...
Mining king Rio Tinto has signalled that they will be joining hands with the Queensland government to look for clean energy for their Boyne aluminium smelter, as Australian manufacturers are gaining a lot due to the crisis in global energy prices which is urging smelters in Europe and Asia to cut productions. Aluminium prices soared to a 13-year high on Monday, fuelled by fears that rising electricity costs will drive more smelters in China, India, and Europe to reduce output, resulting in a shortage of the lightweight metal. While power prices in Queensland have risen in recent months as a result of an explosion at the Callide power station, Australian smelters benefited from extremely low power prices at the beginning of the year. Apart from this, four Australian smelters of Rio...
On Monday, October 11, the London Metal Exchange (LME), announced that they are planning to establish a digital base metal spot market which will focus on the trading of ‘green’ aluminum. For this initiative, LME will be partnering with a German digital metals trading platform called Metalshub. The spot trading will be taking place on Metalshub’s existing online trading platform. The new spot market will be aiming at physical users of industrial metals and is 144 years old exchange known for functioning Europe’s only remaining open outcry trading ring, which intends to boost their digital and sustainability credentials. While Metalshub is considered as the global hub for metals trading, LME’s unique derivatives contracts allows traders to buy and sell futures for particular days are...
