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 4 th July 2022, the largest aluminium producer of India, Vedanta reported a 3 per cent upswing in its aluminium production to 565,000 tonnes in the April-June quarter of FY22-23. Anil Agarwal-led Vedanta Ltd runs its aluminium operations in the states of Odisha and Chhattisgarh and had produced 549,000 tonnes of aluminium in the corresponding quarter of the previous financial year. Aluminium has applications across a wide range of critical industries, including aerospace, aviation, electrical, transportation, infrastructure, consumer goods, and more, as well as emerging sectors such as electric vehicles and renewable energy; making it an essential part of modern life and crucial for a low carbon future. As a result, aluminium is the world's second most important metal today and is set...
The Chief Development Officer of South32, Simon Collins stated at the virtual session of this year’s Prospectors & Developers Association of Canada, that the company encountered a significant change in the past year and has evolved considerably since its formation in 2015, reshaping the company's portfolio to focus on metals critical to a low-carbon future mandate the company to diversify its product portfolio. During the first half of the company's financial year 2022, he noted that record earnings and shareholder returns were supported by the company's favourable commodity mix and recent portfolio improvements. Collins expressed by commenting, “Study outcomes for our world-class development options in North America underline their potential to supply critical minerals into the future....
According to the Shanghai Metals Market, social inventories of primary aluminium in China recorded a restraint this weekend, ending July 4, at 734,000 tonnes. After continued declines since June 21, primary aluminium inventories displayed no change over the weekend across eight major consumption areas, including SHFE warrants. Last Thursday, June 30, primary aluminium inventories came in at 734,000 tonnes, seeing a downfall of 17,000 tonnes week-on-week. However, some Chinese provinces have witnessed a few changes in inventories this weekend, such Wuxi, Nanhai, Gongyi and others. The chart below indicates the current status of inventories across China in more details: Gongyi has seen a hike of 6,000 tonnes over the week in primary aluminium inventories to 103,000, while the inventories in...
Century Aluminum’s three-year power contract with Santee Cooper signed in 2021 is believed to have been shielding the company’s Mount Holly smelter near Goose Creek from rising energy costs. It is helping Chicago-based Century Aluminum combat the second biggest expense after payroll - the escalating costs of electricity. On June 2022, Century announced to idle its Hawesville, Ky., smelter for up to a year, hoping the energy prices to become normal. This shutdown will affect more than 600 workers in the Bluegrass State. CEO Jesse Gary revealed that power costs at the Hawesville smelter, the company’s largest, tripled their historic average expenses in recent months. Meanwhile, another smelter of Century, located off US Highway 52, is amidst an expansion worth $100 million, including the...
Keerti Kappagantula, Pacific Northwest National Laboratory (PNNL) materials scientist and his team are working to improve aluminium’s conductivity so that it can compete with copper inexpensively. Keerti stated that this study was initiated as a result of his team's realisation that the demand for copper is surpassing its existing supply, particularly as the EV revolution gains traction. The research, in the opinion of the experts, opens the door to trials that, if completely realised, might result in an ultra-conductive aluminium substitute for copper that would be beneficial in markets outside of transmission lines, transforming automobiles, electronics, and the power grid. “What if you could make aluminum more conductive—even 80% or 90% as conductive as copper? You could replace copper...
On 1 st July 2022, the Pittsburgh-headquartered American Industrial Corporation due to operational challenges at Warrick aluminium smelter, Alcoa announced it is curtailing one of three potlines immediately. There are three smelting lines at Warrick, each capable of producing approximately 54,000 tonnes per year. By the end of 1st July, one potline was shut down completely. John Slaven, the Executive Vice President and COO at Alcoa said, “Our teams will be focused on ensuring that we bring down this capacity safely while protecting production at the two other operating lines.” Alcoa in its 2020 sustainability report, which covered the activity of the previous year, exemplified “an ongoing focus on increasing the recycled content in the flat-rolled aluminium produced at our Warrick...
A00 aluminium ingot price in China has opened the week with a hike of RMB 120 per tonne, following two consecutive downfalls from RMB 19,370 per tonne to RMB 19,050 per tonne, found the Shanghai Metals Market. Hence, on Monday, July 4, the price has come in at RMB 19,170 per tonne, with average prices to range between RMB 19,150 per tonne and RMB 19,190 per tonne and spot contract to be traded at a discount price of RMB 60-20 per tonne. Gongyi has seen the highest growth in A00 aluminium ingot price by RMB 170 per tonne to RMB 19,120 per tonne, following the increase of RMB 140 per tonne in Foshan to RMB 19,160 per tonne. In Wuxi and Hangzhou, the primary aluminium ingot price has escalated by RMB 120 per tonne to come in at RMB 19,160 per tonne and RMB 19,210 per tonne, respectively,...
LME aluminium opened at US$2,435 per tonne last Friday and fell to US$2,380 per tonne before closing at US$2,468 per tonne, an increase of US$24.5 per tonne or 1 per cent. On Friday, July 1, both LME aluminium cash bid price and LME aluminium official settlement price slipped by US$13.5 per tonne or 0.56 per cent and US$13 per tonne or 0.54 per cent to halt at US$2,383 per tonne and US$2,384 per tonne. 3-month bid price and 3-month offer price also dropped by US$21.5 per tonne or 0.88 per cent and US$21 per tonne or 0.86 per cent to settle at US$2,399 per tonne and US$2,400 per tonne. December 23 bid price and December 23 offer price plunged by US$14 per tonne to stop at US$2,438 per tonne and US$2,443 per tonne. LME aluminium opening stock settled at 369675 tonnes. Live warrants and...
Global transformations are ever more present and increasingly large in size. New business models, emerging technologies penetrating our daily lives and new consumption patterns highly related to social, environmental and regulatory changes have stoked debate in companies worldwide. We need to innovate with purpose, have a vision focused on creating value and explore the core enablers to sustain this growth and legacy. CBA - Companhia Brasileira de Alumínio has been progressively making structured investments year in and year out and has launched DigitALL, a digital transformation program to further expedite this journey. As the name suggests, the program represents a path to be jointly followed by all, from employees to customers to the innovation ecosystem. Fernando Varella | Downstream...
In May of this year, EMG Automation GmbH took over MESACON Messelektronik GmbH in Dresden and integrated the company's versatile thickness measurement solutions into the product portfolio of the "Business Unit Metals". This is an important step towards completing EMG's range of quality assurance systems for the manufacturing of metallic flat products. In addition to various width measurement solutions and the online geometry measurement of slabs, EMG now offers the complete spectrum of thickness measurement systems required for almost every manufacturing and processing step. The expansion of the product portfolio by the thickness measurement, under the product name EMG iTiM, means for the quality management the availability of a wide range of sensor and automation solutions from one...
The global primary aluminium industry experienced some significant developments this week. Like, to begin with, it can be seen that the geopolitical crisis has put the metal industry under various obstacles, and its impact is still ongoing. The shutting down of Century Aluminum in Hawesville due to the rising prices of energy, will not only hamper the region's earnings but will also cause unemployment. On the other hand, the shift towards a greener and cleaner environment is going strong. To support this, three of the biggest lenders in the world to the aluminium industry will work with Rocky Mountain Institute (RMI) for climate-aligned finance to help the decarbonisation of the sector. Apart from this, the news of the United States increasing its tariffs on aluminium imports from Russia...
Hindalco Industries Limited reduced its aluminium ingot and aluminium products prices, with effect from Thursday, June 30. The company trimmed its aluminium ingot price by INR 3,500 per tonne to INR 225,250 per tonne. On the previous day, June 29, Hindalco’s aluminium ingot price stood at INR 228,750 per tonne, seeing a slash of INR 5,250 per tonne. With effect from June 30, Hindalco’s aluminium wire rod price came in at INR 236,350 per tonne, down by INR 3,500 per tonne from INR 239,850 per tonne. Aluminium billets price also saw a cut of INR 3,500 per tonne on the said day from INR 242,850 per tonne to INR 239,350 per tonne. Hindalco links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which as per the data,...
Vedanta Limited has deducted INR 4,750 per tonne from all its aluminium products and aluminium ingot price, with effect from Friday, July 1. With this cut, Vedanta’s aluminium ingot price has come in at INR 220,500-253,500 per tonne, in contrast to INR 225,250- 258,250 per tonne on June 30. The company’s aluminium wire rod price is currently ranging between INR 228,000- 235,500 per tonne, as against INR 232,750- 240,250 per tonne on the previous day. From today, Vedanta is selling its aluminium billet at INR 229,500 per tonne in contrast to INR 234,250 per tonne on June 30. Vedanta Limited links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which is on downward trend since June 29. On Wednesday, June 29, the LME...
The global aluminium industry experienced several electrifying events in June 2022. Century Aluminium’s Hawesville smelter, the largest aluminium producer in North America producing military-grade aluminium, employing over 600 staff has decided to idle its smelter due to soaring energy prices. The company has planned to suspend production for around nine to twelve months and staff have been delivered the notice of temporary lay-off. On the other side of the world in West Africa, Guinea, one of the world’s leading bauxite producers and exporters has pushed companies to build locally alumina refineries to mechanize its national mineral wealth for economic development and has extended the deadline the submission date for alumina refinery proposals and targeted to set a reference price for...
A00 aluminium ingot price in China has plunged by RMB 180 per tonne to close the week, ending July 1, at RMB 19,050 per tonne, found the Shanghai Metals Market. The average prices are estimated to range between RMB 19,030 per tonne and RMB 19,070 per tonne and spot contracts to be traded at a discount price of 50 and 10 per tonne. In Hangzhou, the primary aluminium ingot price has recorded a maximum decrease of RMB 170 per tonne to RMB 19,090 per tonne. The aluminium ingot prices in Foshan and Wuxi have suffered a loss of RMB 160 per tonne to rest at RMB 19,020 per tonne and RMB 19,040 per tonne, followed by a decline of RMB 150 per tonne in Shenyang and Tianjin to RMB 19,050 per tonne and RMB 19,100 per tonne. In Gongyi and Chongqing, A00 aluminium ingot prices have witnessed an RMB 120...
LME aluminium opened at US$2,472 per tonne on Thursday and closed at US$2,444 per tonne, down US$28.5 per tonne or 1.15 per cent. On Thursday, June 30, both LME aluminium cash bid price and LME aluminium official settlement price plunged by US$54.5 per tonne or 2.22 per cent and US$55 per tonne or 2.24 per cent to score at US$2,396.50 per tonne and US$2,397 per tonne. 3-month bid price and 3-month offer price dropped by US$49.5 per tonne or 2 per cent to settle at US$2,420.50 per tonne and US$2,421 per tonne. December 23 bid price and December 23 offer price drifted lower by US$48 per tonne to score at US$2,452 per tonne and US$2,457 per tonne. LME aluminium opening stock settled at 373275 tonnes. Live warrants and Cancelled warrants are pegged at 158200 tonnes and 215075 tonnes. LME...
According to the Shanghai Metals Market, primary aluminium inventories in China have witnessed a steep downfall of 17,000 tonnes week-on-week across eight major consumption areas, including SHFE warrants. Therefore, as of Thursday, June 30, the inventories have totalled 734,000 tonnes, which in comparison with the previous week’s Monday, June 20, decreased marginally by 2,000 tonnes. Last week, on June 23, primary aluminium inventories fell by 34,000 tonnes from the week before across eight major consumption areas to come in at 751,000 tonnes. In Wuxi and Foshan, inventories continued to lose its grip due to a slow re-stocking system. Heavy rainfall in areas was another crucial reason for the falling inventories in Foshan, while stocks were being moved from Wuxi to Gongyi for higher...
In the wake of previous successful e-Magazine releases, AlCircle is pleased to announce the launch of its 11th edition of e-Magazine - " European Aluminium Industry Focus 2022 ." The magazine throws light on the current state of the European Aluminium Market, as well as a detailed study of the future of the European aluminium sector. Since the middle of 2021, the European aluminium market has been in the news for strong reasons like energy crisis, capacity reduction, supply deficit and production halt. As a result of the power crisis in Europe, manufacturing was reduced or stopped, which resulted in a scarcity of metal and a dramatic price increase. The cost of European aluminium has risen by roughly 15% since the beginning of 2022, exceeding its previous high of October 2021. Prices have...
