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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This week the global primary aluminium segment had been quite an eventful one. If on one hand, the market segment witnessed significant growth in primary aluminium production in regions like Africa and North America, then on the other hand, the need to shift towards a more sustainable and clean environment was given prime importance. Speaking of a carbon-neutral environment, following the government's drive for the energy transition and its goal of having net-zero carbon emissions by 2070, Coal India Limited (CIL) is working to decarbonize its operations. Similarly, industry giants like Dofasco and Alcoa, are also paving their way towards a sustainable environment in response to the rising concern about a carbon-free environment. Next in line is the news of Oleg Deripaska announcing that...
Yunnan Sunho Aluminum Co. Ltd., a subdivision of Sunho shares, is a green hydropower aluminium project with a production capacity reaching almost 900,000 tonnes. Yunnan Sunho Aluminum has been registered successfully as a Production and Transformation member of the Aluminium Stewardship Initiative (ASI). Presently the company wishes to upgrade the facility with Multi-Access Edge Computing (MEC) to keep up with the always-changing technological foreground. The sustainable, green, low-carbon project was founded in Funing County in the Wenshan Prefecture with the help of the national electrolytic aluminium capacity displace and transfer policy. The healthy hydropower resources of Yunnan Province also came in very handy for the unit to run. Yunnan Sunho ranks amongst the province’s ‘Double...
Hindalco Industries Limited further expanded its aluminium ingot and aluminium products prices, in line with the increase in global aluminium benchmark price. As of Friday, June 24, Hindalco’s aluminium ingot price closed at INR 225,750 per tonne, up by INR 2,250 per tonne or 1 per cent from INR 223,500 per tonne on the previous day. Hindalco also raised its aluminium wire rod and billets prices by INR 2,250 per tonne on Friday, June 24. While the former pegged at INR 236,850 per tonne versus INR 234,600 per tonne a day before, the latter settled at INR 239,850 per tonne compared to INR 237,600 per tonne. Hindalco links its aluminium ingot and aluminium products prices to the LME aluminium price, which as per the data ascended by US$24.5 per tonne or 0.99 per cent to close at US$2,480 per...
The LME aluminium prices have ended this week lower at around US$2,436 per tonne, but with some intermittent hikes. On Monday, June 20, LME aluminium cash bid price dropped by US$12.5 per tonne to US$2,461 per tonne and LME aluminium official settlement price decreased by US$12 per tonne to US$2,462 per tonne. But the next day, on June 21, both the prices augmented by US$57.50 per tonne to US$2,518.50 per tonne and US$2,519.50 per tonne, respectively. However, the prices slipped on an alternate day again by US$63.50 per tonne and US$64 per tonne to settle at US$2,455 per tonne and US$2,455.50 per tonne, and escalated sequentially to US$2,478 per tonne and US$2,480 per tonne, as of June 23. On Friday, June 24, the prices finally closed at US$2,435 per tonne and US$2,436 per tonne, down by...
The world’s largest ‘premium aluminium’ producer, Emirates Global Aluminium (EGA) plans to develop renewable energy sourced (solar-powered) production facility for silicon metal. Silicon is one of the crucial raw materials essential in the manufacturing of premium aluminium production. However, the project will also form part of the ‘Operation 300billion’ and ‘Make in the Emirates’ initiatives. Abdulnasser Bin Kalban, the CEO of EGA said, “Developing a silicon metal manufacturing facility would secure our supply of a strategic raw material. Once we have met our demand we could expand further, creating a new growth opportunity for our company.” During the process of casting silicon metal is added to aluminium to create high-strength alloys, which are in extensive demand from the automotive...
According to the Shanghai Metals Market, primary aluminium inventories in China witnessed a steep downfall of 34,000 tonnes week-on-week across eight major consumption areas, including SHFE warrants. Therefore, as of Thursday, June 23, the inventories totalled 751,000 tonnes, which in comparison with the previous week’s Monday, June 13, shrunk by an exponential 74,000 tonnes. As of now, the inventories in June has stooped 172,000 tonnes from the end of May and 124,000 tonnes lower than in the same period last year. Last week, on June 16, primary aluminium inventories fell by 68,000 tonnes from the week before across eight major consumption areas to come in at 785,000 tonnes. In Wuxi and Foshan, inventories continued to weaken due to dip-buying tendencies of downstream producers and a...
The founder of Russian aluminium giant Rusal and oligarch Oleg Deripaska commented by saying that Russia will seek to foster trade and investment liaison with India, China and Southeast Asian nations. Oleg Vladimirovich Deripaska, a Russian billionaire and industrialist, was once Russia's richest man but lost a substantial part of his fortune amid the 2007–08 financial crisis. Deripaska further added that following Russia’s geopolitical setback with Ukraine, Russia’s ingress to its conventional destinations of exports and imports is eminently restricted. Hence, Moscow glancing to mature new trade and investment ties with allies in Asia, including India, China and Southeast Asian countries. While speaking at the 25 th -anniversary edition of the St. Petersburg International Economic Forum...
With the growing concern about a clean and green environment, industry titans like Alcoa, a US aluminium company, and Dofasco, a Canadian steel company, are working to move closer to a green environment. However, due to energy and technological barriers, the task is getting more difficult. Talking about Alcoa, the local power authority in the United States is preventing attempts to restore Alcoa Intalco's massive aluminium smelter in Ferndale, Washington, as a green company that is powered by flowing water. Aluminium is one metal that is mentioned when it comes to sustainability and keeping a healthy environmental imprint. It has the potential to be extremely important in achieving global climate neutrality and promoting sustainable development. “If we can’t successfully reopen Intalco,...
LME aluminium opened at US$2,520 per tonne on Thursday and closed at US$2,438 per tonne, down US$71 per tonne or 2.8 per cent. LME aluminium cash bid price stood at US$2,478 per tonne, with a 0.94 per cent or US$23 per tonne escalation on Thursday, June 23. LME aluminium official settlement price halted at US$2,480 per tonne, experiencing an upward strike of 1 per cent or US$24.50 per tonne. 3-month bid price grew by 0.95 per cent or US$23.50 per tonne to stand at US$2,493 per tonne, while 3-month offer price experienced a US$24 per tonne or 0.97 per cent hike to close the week at US$2494 per tonne. December 23 bid price stood and December 23 offer price climbed up by US$15 per tonne rest at US$2,500 per tonne and US$2,505 per tonne, respectively. LME aluminium opening stock continued to...
A00 aluminium ingot price in China has recorded a decline for the third consecutive day to stand at the edge of RMB 19,000 per tonne. According to the Shanghai Metals Market, the primary aluminium ingot price has plunged by RMB 180 per tonne to close the week on Friday, June 24, at RMB 19,160 per tonne. The average prices are expected to range between RMB 19,140 per tonne and RMB 19,180 per tonne, with spot contract to be traded at a premium price of RMB 0-40 per tonne. The Chinese province Foshan has seen the highest downfall of RMB 190 per tonne today to come in at RMB 19,130 per tonne, followed by the slump of RMB 180 per tonne in Hangzhou and Tianjin to rest at RMB 19,210 per tonne. In Linyi, A00 aluminium ingot price has also registered a fall of RMB 180 per tonne to stand at RMB...
On 22 nd June 2006, European Aluminium, the industry association representing the aluminium value chain in Europe has been down-casted by the outcome of the European Parliament’s plenary vote on the Carbon Border Adjustment Mechanism (CBAM). MEPs opted to incorporate indirect emissions in their proposal, ensuring an increase in global carbon emissions from aluminium production. The vote comes without any enterprising procedure to calculate indirect carbon costs on imports, and without the realisation that the European electricity grid must be much closer to decarbonisation before Europe can draw any benefit from a CBAM on indirect emissions. During the upcoming interinstitutional negotiations with the EU Member States, European Aluminium urges for a more cautious approach to phasing in...
A00 aluminium ingot price has plummeted by RMB 430 per tonne to stand at RMB 19,340 per tonne, as recorded by the Shanghai Metals Market on Thursday, June 23. The average prices are supposed to range between RMB 19,320 per tonne and RMB 19,360 per tonne, with spot contracts trading at a premium price of RMB 0-40 per tonne. The provinces in China have measured a considerable amount of price slump today, with primary aluminium ingot prices declining the highest in Gongyi and Wuxi by RMB 440 per tonne to stop at RMB 19,420 per tonne and RMB 19,330 per tonne, respectively. Foshan and Hangzhou have suffered an RMB 430 per tonne decline, with the price in the former city halting at RMB 19,320 per tonne, followed by RMB 19,390 per tonne in the latter town. Primary aluminium ingot price in...
LME aluminium opened at US$2,524.5 per tonne on Wednesday and closed at US$2,539 per tonne, an increase of US$9 per tonne or 0.36 per cent. On June 22, both LME aluminium cash bid price and LME aluminium official settlement price dropped by US$63.5 per tonne or 2.52 per cent and US$64 per tonne or 2.54 per cent, after witnessing a hike the previous day. As per the data, on June 22, LME aluminium cash bid price closed at US$2,455 per tonne and LME aluminium official settlement price settled at US$2,455.50 per tonne. 3-month bid price and 3-month offer price halted at US$2,469.50 per tonne and US$2,470 per tonne, after witnessing a drop of US$60.5 per tonne or 2.39 percent and US$62 per tonne or 2.44 per cent. December 23 bid price and December 23 offer price plunged by US$62 per tonne to...
The largest producer of primary aluminium producer in the United States of America, Century Aluminum has made public that it will idle its aluminium smelter in Hawesville, Kentucky, temporarily due to the propelling high energy prices which are causing a direct impact on the business. On 27 th June 2022, the aluminium smelter is anticipated to initiate the idling process. Until energy prices return to their normalized levels, the company expects to suspend operations for a period of approximately nine to twelve months. Century is constantly investigating all options to prevent the temporary curtailment. Century Aluminium's facility in Hawesville is the largest smelter in North America producing military-grade aluminium. Over 600 staffs employed by the company, most of whom received notice...
The General Administration of Customs reported that in May 2022, China's primary aluminium imports closed at 37,300 tonnes, which reflected M-o-M hike of 7.1 per cent and a Y-o-Y plunge of 61 per cent. The exports, on the other hand, settled at 65,100 tonnes, up by 103.1 per cent M-o-M and up 7046.8 per cent from the previous year. Therefore, 27,800 mt were exported net. Between January and May 2022, imports of primary aluminium were 168,700 tonnes, down 71 per cent Y-o-Y, while exports of the metal totalled 170,000 tonnes, up 4449 per cent. Primary aluminium commerce inside the country reversed to a net export of 1,341 tonnes, a 100 per cent Y-o-Y decline. The mentioned analytics refers to items with the HS codes 76011010 and 76011090. SMM primarily analyses import and export under HS...
After witnessing continuous cuts since June 11, Hindalco Industries Limited’s aluminium ingot and aluminium product prices trended up by INR 5,000 per tonne or 2.23 per cent, as of June 22. That brought the company’s aluminium ingot price to INR 228,500 per tonne, from INR 223,500 per tonne on June 21. As per the data revealed by the company, Hindalco’s aluminium ingot price underwent a slash of INR 1,250 per tonne on June 21 from INR 224,750 per tonne on June 18. Hindalco Industries also increased its aluminium wire rod price by INR 5,000 per tonne or 2.13 per cent on June 22 to settle at INR 239,600 per tonne. On June 21, the company was selling its aluminium wire rod at INR 234,600 per tonne, down by INR 1,250 per tonne from June 18. The latest increase in Hindalco’s aluminium prices...
On 21 st June 2022, the leading global aluminium producer Emirates Global Aluminium (EGA) took part in the 'Make it in the Emirates Forum' orchestrated by the Ministry of Industry and Advanced Technology, along with the Abu Dhabi Department of Economic Development. This forum has an underlying theme of ‘Invest, Partner, Grow’ and is supposed to chair more than 1,300 officials with listed investors and 20 senior representatives from well-known national companies and government bodies. The forum will boost industrial growth in the UAE, resulting ultimately in economic development and heightened supply chain resilience. The Chief Executive Officer of Emirates Global Aluminium, Abdulnasser Bin Kalban, commented: “Emirates Global Aluminium is the largest industrial company in the UAE outside...
According to the International Aluminium Institute, primary aluminium production in North America during May 2022 stood at 325,000 tonnes, rebounding by 10,000 tonnes from the previous month. In April 2022, primary aluminium output in North America had lost that amount and stood at 315,000 tonnes. However, on a year-on-year calculation, North America’s primary aluminium output in May 2022 edged 4.13 per cent or 14,000 tonnes lower than 339,000 tonnes. In the first five months of the year, North America’s primary aluminium production totalled 1.577 million tonnes, down by 4.54 per cent from 1.652 million tonnes during the same period last year. South America also saw an increase of 7,000 tonnes or 7.45 per cent month-on-month in primary aluminium production to 101,000 tonnes in May 2022,...
