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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Hindalco Industries Limited has revised its aluminium products and aluminium ingot prices this week, which, as per the data, has trended up after witnessing a cut on July 6. With effect from July 8, Hindalco has scaled up its aluminium wire rod price by INR 3,750 per tonne or 1.69 per cent to INR 233,850 per tonne, after recording a decline of INR 4,750 per tonne on July 6 to INR 230,100 per tonne. The price of aluminium billets also expanded by INR 3,750 per tonne or 1.60 per cent to halt at INR 236,850 per tonne. The amount recorded on July 6 closed at INR 233,100 per tonne, which was down by INR 4,750 per tonne from 237,850 per tonne a day before. Hindalco also raised its aluminium ingot price by INR 3,750 per tonne or 1.71 per cent from INR 219,000 per tonne on July 6 to INR 222,750...
Scientists at Nizhny Novgorod-based Lobachevsky University have developed aluminium alloys with high plasticity requirements that may be utilised to make equipment and electrical engineering. Aluminium alloys have the highest degree of hardness possible due to the existence of ultrafine grains, yet when heated, these alloys may expand several times their original size and become superplastic. Aleksey Nokhrin, director of the materials diagnostics laboratory of the university, notes that the use of scandium in the alloy leads to the formation of large pores in the case of superplasticity. This was avoided by annealing the alloy at low temperatures, causing the nanoparticles to take on a spherical shape, which helped in the formation of superplastic aluminium alloys. “Superplasticity allows...
Vedanta Limited has escalated its aluminium ingot and aluminium products prices with effect from Friday, July 8, following two consecutive days of cut on July 6 & 7. As per the price chart revealed, Vedanta has hiked its aluminium ingot price by INR 4,250 per tonne or 1.97 per cent to INR 220,500-252,000 per tonne on July 8. On July 7, the ingot price stood at INR 216,250-247,750 per tonne, seeing a decline of INR 2,750 per tonne from the previous day. Vedanta’s aluminium wire rod price has also been increased by INR 4,250 per tonne from INR 223,750- 231,250 per tonne on July 7 to INR 228,000–235,500 per tonne on July 8. Aluminium billet price has come in at INR 229,500 per tonne versus INR 225,250 per tonne on July 7. Vedanta Limited links its aluminium ingot and aluminium products...
A00 aluminium ingot price in China has escalated by RMB 230 per tonne to close the week, ending July 8, at RMB 18,460 per tonne, found the Shanghai Metals Market. The average prices are estimated to range between RMB 18,440 per tonne and RMB 18,480 per tonne, with spot contracts trading at a discount price of 50 and 10 per tonne. In Wuxi, the primary aluminium ingot price has recorded a maximum increase of RMB 240 per tonne coming in at RMB 18,460 per tonne. The primary aluminium price in Hangzhou has witnessed an RMB 220 per tonne rise closing at RMB 18,500 per tonne. In Linyi, the A00 aluminium price has seen a growth of RMB 210 per tonne resulting in RMB 18,540 per tonne. The aluminium ingot prices in Gongyi and Foshan have expanded by RMB 200 per tonne to rest at RMB 18,370 per tonne...
LME aluminium opened at US$2,375 per tonne on Thursday and closed up 1.31 per cent. Both LME aluminium cash bid price and LME aluminium official settlement price expanded by US$59.5 per tonne or 2.52 per cent on Thursday, July 7, following two consecutive downfalls from US$2,374 per tonne to US$2,358 per tonne. As of July 7, LME aluminium cash bid price and LME aluminium official settlement price closed at US$2,416.50 per tonne and US$2,417.50 per tonne. 3-month bid price and 3-month offer price also surged by US$54 per tonne or 2.26 per cent and US$55 per tonne or 2.31 per cent to halt at US$2,433 per tonne and US$2,435 per tonne. December 23 bid price and December 23 offer price also climbed the graph by US$41 per tonne to stand at US$2,463 per tonne and US$2,468 per tonne. LME...
According to the Shanghai Metals Market, social inventories of primary aluminium have decreased by 11,000 tonnes week-on-week across China's eight major consumption areas, following a restraint over the weekend on Monday, July 4. As per the SMM data, inventories as of July 7 have come in at 723,000 tonnes versus 734,000 tonnes on June 30. Decline in inventories this week has primarily been contributed by Wuxi as some downstream buyers increased purchase on primary aluminium price fall to around RMB 18,000 per tonne over the past two days. The chart below indicates the current status of primary aluminium inventories across China in more details: In Wuxi, primary aluminium inventories have plummeted by 19,000 tonnes week-on-week to come in at 245,000 tonnes, followed by a dip of 1,000...
Fully owned and operated by South32, South Africa-based Hillside Aluminium has collaborated with Solana Energy to provide entry of renewable energy to one of the country’s most crucial commercial hubs. With its launch in June 2022, this multi-phased project will enable renewable solar power infrastructure to be introduced into Richards Bay and King Cetshwayo District (KCD), adding between 2MW and 2.5MW of renewable energy capacity to the local grid within a year. This will allow businesses that supply Hillside Aluminium to start experiencing the benefits of renewable energy. This partnership will lower electricity costs and greenhouse gas emissions for workers and businesses, and drive investment that will support the transition to a low-carbon economy in the region. Rob Jackson, the Vice...
LME aluminium opened at US$2,375 per tonne on Wednesday and rose to US$2,423 per tonne before closing at US$2,400 per tonne, an increase of US$31 per tonne or 1.31 per cent. LME aluminium cash bid price stood at US$2,357 per tonne, with a 0.63 per cent or US$15 per tonne slump, according to London Metal Exchange. LME aluminium official settlement price halted at US$2,358 per tonne, experiencing a downfall of 0.67 per cent or US$16 per tonne on July 6. 3-month bid price decreased by 0.33 per cent or US$8 per tonne, coming in at US$2,379 per tonne. 3-month offer price stood at US$2,380 per tonne with a 0.31 per cent or US$7.50 per tonne loss. December 23 bid price and December 23 offer price shed US$1 per tonne or 0.04 per cent, closing at US$2,422 per tonne and US$2,427 per tonne,...
A00 aluminium ingot price in China has decreased by RMB 10 per tonne to settle at RMB 18,230 per tonne, as recorded by the Shanghai Metals Market on Thursday, July 7. The average prices are expected to range between RMB 18,210 per tonne and RMB 18,250 per tonne, with spot contracts to be traded at a discount price of RMB 50 per tonne and RMB 10 per tonne. In Shenyang and Linyi, the price has gone up by RMB 10 per tonne and RMB 40 per tonne to settle at RMB 18,280 per tonne and RMB 18,330 per tonne. However, on the other hand, the price in Gongyi and Foshan has descended by RMB 20 per tonne and RMB 30 per tonne to score at RMB 18,170 per tonne. In Wuxi, the price has inclined downwards by RMB 10 per tonne to land at RMB 18,220 per tonne. As per the SMM data, the A00 aluminium ingot price...
Today, on June 6, the largest industrial organisation in the UAE, excluding oil and gas, Emirates Global Aluminium (EGA) declared their plan of mounting highly-automated, multi-functional overhead cranes in Jebel Ali in a journey to own fully automated cranes utilised in reduction cell tending and also to obtain future jobs in the fast-developing world. As part of the replacement deal, EGA will be taking out sixteen worn-out 25-years old cranes and interchanging them with 14 latest models that feature auto-positioning and advanced sensory abilities. Fives, a French industrial engineering group, has agreed to provide the new cranes. All the 14 new cranes have to be installed and activated by 2025, with the first crane scheduled for delivery by the end of 2023. EGA claims that the...
Hindalco Industries Limited has slashed its aluminium ingot and aluminium products prices, with effect from July 6, following a hike on the previous day. Hindalco has axed its aluminium ingot price by INR 4,750 per tonne or 2.12 per cent to INR 219,000 per tonne. On July 5, the company’s ingot price stood at INR 223,750 per tonne, witnessing a rise of INR 3,000 per tonne. Hindalco’s aluminium wire rod price has also been cut by INR 4,750 per tonne on July 6, following an increase of INR 3,000 per tonne on July 5. Therefore, the wire rod price as of July 6 has come in at INR 230,100 per tonne as against INR 234,850 per tonne on the previous day. Hindalco’s aluminium billets price has undergone a cut of INR 4,750 per tonne on July 6 to INR 233,100 per tonne versus INR 237,850 per tonne on...
Altech Chemicals has successfully enrolled the Dresden-based German research institution, Fraunhofer Institute for Ceramic Technologies and Systems (IKTS), as a strategic guide to accelerating the testing and qualification process for the company’s patent Silumina Anodes™. IKTS independently wishes to run some tests on Altech’s Silumina Anodes™ battery material to check its endurance in different battery-related usages. The prime intuition of IKTS after the detailed study of lithium-ion batteries is to conduct elongated performance tests on varied battery applications ensuring the proper qualification process of the Silumina Anodes™ material for customer demand. IKTS has state-of-the-art labs and technical centres full of extraordinary equipment at its sites in Dresden (Saxony), Hermsdorf...
A00 aluminium ingot price in China has witnessed a massive plunge of RMB 790 per tonne on July 6, Wednesday. According to the Shanghai Metals Market, the price has precisely settled at RMB 18,240 per tonne, with average prices estimated to range between RMB 18,220 per tonne and RMB 18,260 per tonne and spot contracts to be traded at a discount price of RMB 10 per tonne and RMB 50 per tonne. The primary aluminium ingot price in Foshan has recorded a maximum decrease of RMB 810 per tonne to RMB 18,200 per tonne, followed by an RMB 800 per tonne decline in Chongqing to RMB 18,260 per tonne. In Wuxi, the A00 aluminium ingot price has nosedived by RMB 790 per tonne to come in at RMB 18,230 per tonne. The price in Hangzhou has suffered a loss of RMB 780 per tonne to rest at RMB 18,280 per...
Indian aluminium giants like Hindalco and Vedanta have shown interest in joining hands with Coal India Limited as equity partners for the proposed integrated greenfield aluminium project in Odisha. The news comes on Wednesday, July 6, after two officials aware of the matter reported, stating that several other companies in West Asia have also responded to CIL’s interest (EoI) for equity partners invitation in the greenfield project. As per the report, the project will include bauxite mining, alumina refinery, primary aluminium production, and an associated coal preparation plant. One of the two officials said: “Most domestic companies are interested, including Vedanta and Hindalco, as equity partners,” one of the two officials said on condition of anonymity. “During the pre-bid...
LME aluminium fell below at US$2,400 per tonne on Tuesday and closed at US$2,369 per tonne. On July 5, both LME aluminium cash bid price and LME aluminium official settlement price plunged by US$59 per tonne or 2.42 per cent and US$57.5 per tonne or 2.36 per cent to score at US$2,372 per tonne and US$2,374 per tonne. 3-month bid price and 3-month offer price also drifted downwards by US$63 per tonne or 2.57 per cent and US$64.5 per tonne or 2.63 per cent to settle at US$2,387 per tonne and US$2,387.50 per tonne. December 23 bid price and December 23 offer price halted at US$2,423 per tonne and US$2,428 per tonne after witnessing a decline of US$65 per tonne. LME aluminium opening stock closed at 362525 tonnes. Live warrants and Cancelled warrants for the same day were recorded at 158200...
Aluminium Bahrain (Alba), the world’s largest aluminium smelter ex-China, bagged six significant National Safety Council (NSC) USA awards for 2021. Alba is recognized as one of the top industrial companies in the world with high standards in Environment, Social, and Governance (ESG). Awards reflect Alba's leadership in various safety areas: Safety Leadership Award, Milestone Award, Million Work Hours Award, Perfect Record Award, Occupational Excellence Achievement Award, and Significant Improvement Award. The six NSC Awards will be presented to Alba at the National Safety Council Congress and Expo, which will take place in San Diego, USA, in September 2022. “We are our last line of defense in Safety; it boils down to each one of us. Safety is everyone’s responsibility in Alba. I thank our...
LME aluminium opened at US$2,475 per tonne on Monday and closed at US$2,463 per tonne, down 0.22 per cent. LME aluminium cash bid price stood at US$2,431 per tonne, with a 2.01 per cent or US$48 per tonne escalation on Monday, July 4. LME aluminium official settlement price halted at US$2,431.50 per tonne, experiencing an upward strike of 1.99 per cent or US$47.50 per tonne. 3-month bid price grew by 2.12 per cent or US$51 per tonne to stand at US$2,450 per tonne, while the 3-month offer price witnessed a US$52 per tonne or 2.17 per cent hike to begin the week at US$2,452 per tonne. December 23 bid price and December 23 offer price climbed up the graph by US$50 per tonne or 2.05 per cent to rest at US$2,488 per tonne and US$2,493 per tonne, respectively. LME aluminium opening stock...
On Tuesday, July 5, China’s A00 aluminium ingot price has dropped by RMB 140 per tonne to settle at RMB 19,030 per tonne, following a hike the previous day. The average price is expected to range between RMB 19,010 per tonne and RMB 19,050 per tonne, with spot contract to be traded at a discount price of RMB 60 to RMB 20 per tonne, found the Shanghai Metals Market. The A00 aluminium ingot price has experienced a downfall in almost all the major provinces. Tianjin has witnessed the highest drop by RMB 220 per tonne to halt at RMB 18,930 per tonne, following the plunge of RMB 190 per tonne in Gongyi and Linyi to settle at RMB 18,930 per tonne and RMB 19,030 per tonne. For the same day in Foshan, Hangzhou and Shenyang, the price has declined by RMB 150 per tonne to peg at RMB 19,010 per...
