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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AZ Global Consulting will be strategically holding its new global Aluminium Conference in Singapore from 8 to 10 November 2022. The conference will focus on re-energizing for 'Our Prosperous and Sustainable Future'. Are we ready to deal with the black Swans? Are we putting the right contingency plans for the long term? Old contingency models are now obsolete. How can we reset and reshape the industry: restart, reinvent and revolutionize for profitability and sustainability and contribute to a better world? In recent years AZ Global's (previously AZ China) focus has shifted to a more global outlook. In today’s world, the issues facing the aluminium industry are becoming truly global and AZ Global provides in-depth meaningful and data-based market intelligence. Whether we are looking at the...
The global metal and mining giant, Rio Tinto has announced that the group has decided in investing US$188 million (CA$240 million) to augment the production capacity for low-carbon, high-value aluminium billets at its Alma smelter in Lac-Saint-Jean, Quebec by 202,000 tonnes. The current casting centre at Rio Tinto's Alma facility will be expanded to accommodate new state-of-the-art equipment, counting a casting pit and furnaces, granting a larger portion of the aluminium produced to be recast to higher value billets. The construction will commence in May 2023, after completion of detailed engineering and preliminary work, while commissioning is anticipated during the first quarter of 2025. According to global market analysis and consultancy firm, the demand for aluminium extrusion...
A00 aluminium ingot price in China has plummeted by RMB 160 per tonne on July 14, Thursday. According to the Shanghai Metals Market, the price has precisely settled at RMB 17,440 per tonne, with average prices estimated to range between RMB 17,420 per tonne and RMB 17,460 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 Hangzhou has recorded a maximum decrease of RMB 390 per tonne to RMB 17,640 per tonne, followed by an RMB 190 per tonne decline in Gongyi to rest at RMB 17,370 per tonne. In Wuxi, Tianjin and Linyi, the A00 aluminium ingot prices have nosedived by RMB 160 per tonne to come in at RMB 17,440 per tonne, RMB 17,540 per tonne and RMB 17,540 per tonne. The price in...
LME aluminium opened at US$2,360.5 per tonne on Wednesday and closed at US$2,359 per tonne, down US$1 per tonne or 0.04 per cent. LME aluminium cash bid price closed at US$2,342.50 per tonne, with a US$14.5 per tonne or 0.61 per cent drop, according to London Metal Exchange. LME aluminium official settlement price also slumped by US$15 per tonne or 0.63 per cent to stop at US$2,343 per tonne. 3-month bid price and 3-month offer price tumbled down by US$15 per tonne or 0.63 per cent to peg at US$2,355 per tonne and US$2,355.50 per tonne. Both December 23 bid price and December 23 offer price declined by US$15 per tonne or 0.62 per cent to settle at US$2,375 per tonne and US$2,380 per tonne. LME aluminium opening stock came in at 340300 tonnes. Live warrants and Cancelled warrants for the...
LME aluminium opened at US$2,372 per tonne on Tuesday and closed at US$2,360 per tonne, down US$17 per tonne or 0.72 per cent. LME aluminium cash bid price stood at US$2,357 per tonne, with a 2.44 per cent or US$59 per tonne slump, according to London Metal Exchange. LME aluminium official settlement price halted at US$2,358 per tonne, experiencing a downfall of 2.44 per cent or US$59 per tonne on July 12, Tuesday. 3-month bid price tumbled down US$51 per tonne or 2.11 per cent resting at US$2,370 per tonne. 3-month offer price plunged by 2.17 per cent or US$52.50 per tonne to close at US$2,370.50 per tonne. December 23 bid price stood at US$2,390 per tonne, dropping by 1.77 per cent or US$43 per tonne. December 23 offer price closed at US$2,395 per tonne, moving down by US$43 per tonne...
On Wednesday, July 13, the A00 aluminium ingot price in China has declined by RMB 390 per tonne to halt at RMB 17,600 per tonne. As per the SMM data, the average price for the same is expected to range between RMB 17,580 per tonne and RMB 17,620 per tonne, with spot contract to be traded at a discount price of RMB 20 per to a premium price of RMB 20 per tonne. The A00 aluminium ingot price has witnessed a downfall in all the major provinces, with the highest in Linyi. The price in Linyi has nosedived by RMB 420 per tonne to close at RMB 17,700 per tonne. On the same day, the price in Foshan and Wuxi has plunged by RMB 390 per tonne to peg at RMB 17,460 per tonne and RMB 17,600 per tonne. In Chongqing and Shenyang, the price has descended by RMB 310 per tonne and RMB 350 per tonne to stop...
India's iconic aluminium manufacturer, Bharat Aluminium Company Limited (BALCO), a subsidiary of Vedanta Aluminium, conserved more than 22,000 gigajoules (GJ) of energy in FY22. As part of the company's commitment to reduce carbon emissions by 2050 or earlier, Balco is gaining ground toward decarbonizing its operations. Intending to conserve energy, in FY22, BALCO reduced: Specific Heavy Fuel Oil (HFO) consumption at its cast houses by 10% Specific power consumption (energy used for producing a unit of product) by 15% Scrap generation in Ingot Casting Machine by 20% and in Wire Rod Mill by 31%, thereby reducing energy used in re-melting, which is energy-intensive In addition, the company is using biomass briquettes to reduce its GHG emissions by 0.43 million tonnes of CO2 equivalent...
A00 aluminium ingot price in China has witnessed a plunge of RMB 190 per tonne on July 12, Tuesday. According to the Shanghai Metals Market, the price has precisely settled at RMB 17,990 per tonne, with average prices estimated to range between RMB 17,970 per tonne and RMB 18,010 per tonne and spot contracts to be traded at a discount price of RMB 40 per tonne. The primary aluminium ingot price in Chongqing has recorded a maximum decrease of RMB 260 per tonne to RMB 17,920 per tonne, followed by an RMB 210 per tonne decline in Foshan to RMB 17,850 per tonne. In Wuxi and Gongyi, the A00 aluminium ingot price has nosedived by RMB 180 per tonne to come in at RMB 17,920 per tonne and RMB 17,990 per tonne, respectively. The price in Hangzhou has suffered a loss of RMB 190 per tonne to rest at...
Epsilon Carbon, India's foremost manufacturer of coal tar derivatives, as well as the nation's only backwards-integrated manufacturer of raw material, has agreed to collaborate with edible oil refiner Sri Anagha Refineries to construct molten pitch storage tanks at the refiner's premises in Mangalore on India's western coast. Storage tanks capable of holding 10,000 metric tons will be erected at the facility. The Mangalore Port is the seventh-largest port in the country and it is a place where some of the key primary commodities are imported as well as exported. The carbon company exemplified, “Since the port had a draft of 14 metres, it allowed vessels up to DWT of 100,000 MT to berth, and thus the facility would help Epsilon to scale up exports.” Epsilon further added, “Through this...
LME aluminium opened at US$2,436.5 per tonne on Monday and closed at US$2,377 per tonne, down US$66.5 per tonne or 2.72 per cent. On Monday, July 11, both LME aluminium cash bid price and LME aluminium official settlement price opened the week with a growth of US$17 per tonne or 0.70 per cent and US$17.5 per tonne or 0.72 per cent to close at US$2,416 per tonne and US$2,417 per tonne. On the same day, both 3-month bid price and 3-month offer price also climbed up by US$7 per tonne or 0.28 per cent and US$8.5 per tonne or 0.35 per cent to close at US$2,421 per tonne and US$2,423 per tonne. December 23 bid price and December 23 offer price dropped by US$2 per tonne or 0.08 per cent to score at US$2,433 per tonne and US$2,438 per tonne. LME aluminium opening stock settled at 343825 tonnes....
India's largest aluminium producer, Vedanta Aluminium has partnered with TÜV SÜD, a global leader in safety, security, and sustainability solutions, to become net water positive. As a part of this partnership, Vedanta Aluminium and TÜV will create a roadmap for the company's water positivity goal by enhancing the accounting process for water consumption, building capacity for continuous improvement and conservation, and implementing innovative solutions and initiatives. A key pillar in Vedanta Aluminium's approach to Environment, Social and Governance (ESG) excellence for climate action is water management, which aims to achieve net water-positive operations by 2030. A water-positive pledge helps companies align with the UN goal of ensuring that people have access to safe water while...
On Monday, July 11, A00 aluminium ingot price in China opened the week with a dropdown of RMB 280 per tonne to settle at RMB 18,180 per tonne. The average price for the same is expected to range between RMB 18,160 per tonne and RMB 18,200 per tonne, with spot contract to be traded at a discount price of RMB 50-10 per tonne. However, on the other hand, the A00 aluminium ingot price witnessed a hike of RMB 240 per tonne and RMB 220 per tonne in Wuxi and Hangzhou to score at RMB 18,460 per tonne and RMB 18,500 per tonne. As per the SMM data, in provinces like Foshan and Gongyi, the primary aluminium ingot price plunged by RMB 310 per tonne and RMB 270 per tonne, to record at RMB 18,060 per tonne and RMB 18,100 per tonne. For the same day in Chongqing and Shenyang, the price decreased by RMB...
LME aluminium opened at US$2,449 per tonne last Friday and closed at US$2,443.5 per tonne, down US$4 per tonne or 0.16 per cent. LME aluminium cash bid price stood at US$2,399 per tonne, with a 0.72 per cent or US$17.50 per tonne slump, according to London Metal Exchange. LME aluminium official settlement price halted at US$2,399.50 per tonne, experiencing a downfall of 0.74 per cent or US$18 per tonne on July 8, Friday. 3-month bid price tumbled down US$19 per tonne or 0.78 per cent resting at US$2,414 per tonne. 3-month offer price plunged by 0.84 per cent or US$20.50 per tonne to close at US$2,414.50 per tonne. December 23 bid price stood at US$2,435 per tonne, dropping by 1.14 per cent or US$28 per tonne. December 23 offer price closed at US$2,440 per tonne, moving down by US$28 per...
After almost two weeks and close observation to the fluctuating LME aluminium price trend, NALCO revised its aluminium ingot and aluminium products prices on July 8. As per the price chart revealed, NALCO slightly cut its aluminium ingot price by INR 1,700, following two consecutive significant strokes last month. The company’s aluminium ingot price is now ranging between INR 221,750-225,250 per tonne versus INR 223,450-226,950 per tonne on June 21. NALCO’s aluminium wire rod price is also reduced by INR 1,700 per tonne from INR 225,950-230,300 per tonne on June 21 to INR 224,250-228,600 per tonne on July 8. Aluminium billets price also saw a cut of INR 1,700 per tonne to stand at INR 225,200-227,850 per tonne. On June 21, the price came in at 226,900-229,550 per tonne, seeing a downfall...
Due to the unique features of aluminium, like lightweight, recyclable, corrosion resistance, and high strength, the metal is considered one of the top choices for the manufacturing industry professionals. In addition to this, aluminium is a metal which is constantly under the experimental radar. Like, researchers at Nizhny Novgorod's Lobachevsky University created aluminium alloys with high plasticity demands that might be used to create electrical and engineering equipment. On the other hand, the news of Alcoa idling one of its three potlines at Warrick aluminium owing to operational issues gathered much attention. Vedanta Limited formally announced on July 7, that it would pay INR 564.67 crore to purchase a 100% share in the heavily indebted Athena Chhattisgarh Power Limited. Under the...
LME aluminium benchmark price displayed an oscillating trend this week, ending lower on Friday, July 8. LME aluminium cash bid price and LME aluminium official settlement price started at US$2,431 per tonne and US$2,431.50 per tonne as of Monday, July 4, seeing an increase of 2 per cent from the previous day. Next day, on July 5, the prices slumped by US$59 per tonne and US$57.50 per tonne, respectively, to come in at US$2,372 per tonne and US$2,374 per tonne. The prices decreased further on July 6 to US$2,357 per tonne and US$2,358 per tonne but grew the next day by 2.5 per cent to settle at US$2,416.50 per tonne and US$2,417.50 per tonne, respectively. However, on Friday, LME aluminium cash bid price and LME aluminium official settlement price shrank by US$17.50 per tonne and US$18 per...
On Thursday, July 7, Vedanta Limited officially announced that it would acquire a 100 per cent stake in debt-ridden Athena Chhattisgarh Power Limited for INR 564.67 crore. The mode of payment is most likely to be cash, and the transaction is expected to complete in FY2022-23. The news came after the company said in a regulatory filing, "Vedanta Limited to acquire 100% of the paid-up capital of Athena Chhattisgarh Power Limited." The investment in 1200MW thermal power plant will be beneficial for Vedanta’s aluminium business as the latter would be able to secure required electricity for smelting at cheaper cost. Athena power plant is located at Jhanjgir Champa district, Chhattisgarh, India, at a distance of nearly 80 Km from BALCO and 180 Km from Jharsuguda. The power plant has two units...
The Alcoa-owned Portland Aluminium smelter, Australia's second-largest aluminium producer, is in talks with Aloft Holdings, a Dutch company run by an Australian investment banker. According to our report, people familiar with the situation stated, that Aloft Holdings which was floated in November 2021 to buy and run aluminium assets globally, has done the assessment of the Portland aluminium smelter and has been in dialogue with American Industrial Corporation, Alcoa’s Australian assets for months in regards to a potential deal. Furthermore, Aloft also moved to Australian and offshore financial institutes for debt funding, to strive its offer into a fully funded bid. In the past six months, Alcoa's local subsidiary Alcoa of Australia held confidential discussions with Aloft and other...
