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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National Aluminium Company Limited (NALCO) has again reduced its aluminium ingot and aluminium products prices by almost the same amount like last time. With effect from June 21, NALCO has slashed its aluminium ingot price by INR 10,200 per tonne or 4.4 per cent to INR 223,450-226,950 per tonne versus INR 233,650-237,150 per tonne on June 16. NALCO’s wire rod price has also experienced a sharp cut of INR 10,200 per tonne, with effect from June 21, resulting in INR 225,950-230,300 per tonne. Nearly a week ago, on June 16, the price stood at INR 236,150-240,500 per tonne after being axed by INR 10,300 per tonne. With the latest cut, aluminium billets price is hovering around INR 226,900-229,550 per tonne, down by INR 10,200 per tonne too from INR 237,100-239,750 per tonne a week ago....
LME aluminium opened at US$2,515 per tonne on Tuesday and closed at US$2,530 per tonne, an increase of US$15.5 per tonne or 0.62 per cent. LME aluminium cash bid price stood at US$2518.50 per tonne, with a 2.34 per cent or US$57.50 per tonne hike, according to London Metal Exchange data. LME aluminium official settlement price halted at US$2,519.50 per tonne, which also experienced a rise of US$57.50 per tonne or 2.33 per cent on June 21. 3-month bid price escalated by 2.02 per cent or US$50 per tonne, resulting in US$2,530 per tonne, while 3-month offer price rose by 2.05 per cent or US$51 per tonne to rest at US$2,532 per tonne. December 23 bid price stood at US$2,547 per tonne and December 23 offer price closed at US$2,552 per tonne, rising 1.96 per cent or US$49 per tonne. LME...
China’s A00 aluminium ingot price has plunged by RMB 90 per tonne after witnessing a hike the previous day. As per the SMM data, the price on June 22 closed at RMB 19,770 per tonne, with the average price expected to stand between RMB 19,750 per tonne and RMB 19,790 per tonne and spot contracts trading at a premium price of RMB 0-40 per tonne. The A00 aluminium ingot price in all the Chinese provinces has witnessed a downfall. To begin with, the price in Gongyi and Linyi has dropped by RMB 150 per tonne and RMB 120 per tonne to score at RMB 19,860 per tonne and RMB 19,890 per tonne. In Wuxi and Hangzhou, the price has decreased by RMB 90 per tonne to peg at RMB 19,770 per tonne and RMB 19,820 per tonne. On the same day in Foshan and Chongqing, the price nosedived by RMB 120 per tonne and...
In May 2022, primary aluminium production in Africa rebounded to 138,000 tonnes after a dip in the previous month. According to the International Aluminium Institute’s latest data, Africa’s primary aluminium output in May witnessed an increase of 7,000 tonnes or 5.34 per cent month-on-month. In April, the output stood at 131,000 tonnes, down by 6,000 tonnes or 4.38 per cent from 137,000 tonnes in March 2022. On a year-on-year calculation, Africa’s primary aluminium production in May’22 grew slightly by 2,000 tonnes from 136,000 tonnes, showed IAI. In the first five months of 2022, Africa’s primary aluminium production totalled 666,000 tonnes, flaunting a hike of 2.30 per cent or 15,000 tonnes from 651,000 tonnes during the corresponding period of last year. World primary aluminium...
On Monday, June 20, Aluminium Bahrain B.S.C. (Alba) inaugurated a new Environment, Social and Governance (ESG) campaign across all its plants to reinforce Alba ESG Roadmap’s six priority areas, in line with Bahrain’s commitment to achieve net zero carbon emissions by 2060. The news came after Alba’s CEO Ali Al Baqali unveiled the campaign titled ‘A Journey, Not A Destination’ virtually to all employees, contractors’ workers, and representatives of other GCC aluminium smelters and Gulf Aluminium Council (GAC). During the programme, Al Baqali stated: “As a leading corporate citizen, we believe in producing responsibly and sustainably. Through our ESG Roadmap, we aim to establish a purpose driven culture that is focused on long-term value creation for our stakeholders and the society we...
A00 aluminium ingot price has heightened by RMB 140 per tonne to settle at RMB 19,860 per tonne on Tuesday, June 21, following two consecutive declines from RMB 20,160 per tonne to RMB 19,720 per tonne, found the Shanghai Metals Market (SMM). The average prices are estimated to range between RMB 19,840 per tonne and RMB 19,880 per tonne, with spot contracts trading at a premium price of RMB 0-40 per tonne. A00 aluminium ingot price has seen the highest rise in Hangzhou by RMB 150 per tonne, closing at RMB 19,910 for the day. Gyongyi and Foshan have witnessed RMB 120 per tonne hike in the prices resulting in RMB 20,010 per tonne and RMB 19,870 per tonne, respectively. Primary aluminium ingot price in Linyi has escalated by RMB 140 per tonne to come in at RMB 20,010 per tonne, while the...
According to the Shanghai Metals Market, social inventories of primary aluminium in China further dropped across eight major consumption areas, including SHFE warrants, on Monday, June 20. As per the data revealed, inventories totalled 757,000 tonnes, seeing a downfall of 28,000 tonnes over the weekend and a plunge of 68,000 tonnes week-on-week. Compared to the end of May, inventories on Monday recorded a sharp fall of 165,000 tonnes. The decline on Monday was primarily led by Wuxi and Nanhai due to transfer of cargoes to other warehouses and increased downstream purchases after aluminium prices pulled back. The chart below indicates the current status of inventories across China in more details: Among major Chinese provinces, primary aluminium inventories declined the highest in Wuxi by...
LME aluminium opened at US$2,500 per tonne on Monday and closed at US$2,514 per tonne, an increase of US$11.5 per tonne or 0.46 per cent. On Monday, June 20, LME aluminium cash bid price dropped by US$12.5 per tonne or 0.50 per cent, and LME aluminium official settlement price slipped by US$12 per tonne or 0.48 per cent to close at US$2,461 per tonne and US$2,462 per tonne. 3-month bid price and 3-month offer price slumped by US$20 per tonne or 0.8 per cent and US$21 per tonne or 0.83 per cent to come in at US$2,480 per tonne and US$2,481 per tonne. December 23 bid price and December 23 offer price declined by US$14 per tonne or 0.55 per cent to stop at US$2,498 per tonne and US$2,503 per tonne. LME aluminium opening stock halted at 404450 tonnes. Live warrants and Cancelled warrants for...
According to the International Aluminium Institute, world primary aluminium production in May 2022 reported an increase of 3.64 per cent month-on-month to 5.805 million tonnes. In April, the output was at 5.601 million tonnes, down by 2.69 per cent from 5.756 million tonnes a month ago. On a year-on-year basis, world primary aluminium production in May 2022 registered a slight growth of 0.43 per cent from 5.780 million tonnes. In the first five months of the year, world primary aluminium production amounted to 27.972 million tonnes, down by 0.69 per cent from 28.165 million tonnes during the same period last year. China, the world’s largest producer and consumer of aluminium, churned out 3.420 million tonnes of primary aluminium in May, compared to 3.292 million tonnes in April. That was...
According to the data released by the General Administration of Customs on Saturday, June 18, China’s aluminium imports in May 2022 decreased by 16.4 per cent year-on-year. That brought the total imports to 188,469 tonnes of unwrought aluminium and aluminium products – including primary metal & unwrought and alloyed aluminium. So far this year, China’s monthly aluminium imports have been below 200,000 tonnes due to arbitrage window shut for cheaper overseas metal and weak downstream demand for the fresh COVID-induced lockdown. However, on a month-on-month calculation, the imports in May grew by 7.52 per cent or 13,180 tonnes from 175,289 tonnes, showed the General Customs data. On the other hand, China’s unwrought aluminium and aluminium products exports surged by 54 per cent from a year...
According to an industry report by the Australian Industry Energy Transitions Initiative (ETI), supported by some of the largest companies in Australia, it has been revealed that the regional manufacturing organisations, who are the immensely contributing to the economy of the nation can create the possibility to axe down the greenhouse gas emissions by more than 80% and as a turnout, Australia will attract multibillion-dollar investments in renewable energy sources. It is considered one of the most challenging aspects of Australia's endeavour to attain net-zero to cut emissions from the production of aluminium among other like iron, steel, chemicals and liquefied natural gas. However, the report from the Australian Industry Energy Transitions Initiative (ETI), a coalition between heavy...
LME aluminium opened at US$2,518 per tonne last Friday and closed at US$2,503 per tonne, down US$18.5 per tonne or 0.73 per cent. LME aluminium cash bid price stood at US$2473.50 per tonne, with a 1.06 per cent or US$26.50 per tonne slump, according to London Metal Exchange. LME aluminium official settlement price halted at US$2,474 per tonne, experiencing a similar downfall of 1.06 per cent or US$26.50 per tonne on June 17. 3-month bid price saw a 0.95 per cent or US$24 per tonne plunge, resulting in US$2,500. 3-month offer price was demoted by 0.91 per cent or US$23 per tonne to rest at US$2,502 per tonne. December 23 bid price stood at US$2,512 per tonne, dropping 0.24 per cent or US$6 per tonne. December 23 offer price closed at US$2,517 per tonne, moving down by US$6 per tonne or...
Coal India Limited (CIL), an Indian government-owned coal mining and refining corporation, is reportedly striving to decarbonise its operations, following the government’s energy transition push and net zero carbon emission target by 2070. Therefore, CIL is diversifying into aluminium production, solar power generation and coal gasification. The news came on Monday, June 20, after two officials aware of the matter said, while adding that the company is waiting for certain clearances to begin an integrated greenfield aluminium project in Odisha. As per the report, Odisha Chief Minister Naveen Patnaik has also approved the project. Stressing on the energy transition and diversification process, Union coal secretary Anil Kumar Jain recently said: “CIL is diversifying; they are getting into...
A00 aluminium ingot price in China has plunged by RMB 190 per tonne to score at RMB 19,720 per tonne as of Monday, June 20. As per the SMM data, the average prices are expected to range between RMB 19,700 per tonne and RMB 19,740 per tonne, with spot contract to be traded at a premium price of RMB 0 per tonne to RMB 40 per tonne. The A00 aluminium ingot price has witnessed a downfall in all the major regions of China. Starting with Gongyi, the price has nosedived by RMB 280 per tonne to peg at RMB 19,890 per tonne. The price in Foshan and Hangzhou has plummeted by RMB 210 per tonne to close at RMB 19,750 per tonne and RMB 19,760 per tonne. On the same day in Chongqing and Shenyang, the price has slumped by RMB 200 per tonne and RMB 90 per tonne, to halt at RMB 19,820 per tonne and RMB...
The price of aluminium on the London Metal Exchange (LME) dropped dramatically as a result of sluggish economic development, which further reduced the market's demand for the metal. Also, China's interest rate rise had been aided by the second wave of Covid-19 lockdowns. As a result of this, On Monday, June 13, LME aluminium cash bid price and LME aluminium official settlement price opened the week with a major downfall of US$105.5 per tonne or 3.91 per cent, which further went down by US$2 per tonne on Tuesday to settle at US$2,587 per tonne. Apart from this, the news of Bharat Aluminium Company Limited (BALCO), employing biomass briquettes as a fuel mix to increase the sustainability of thermal power generation, has garnered a significant response. Also, the news of Ghana planning to...
On June 17, Hindalco Industries Limited further declined its aluminium ingot and aluminium products prices by INR 7,750 per tonne or 3.30 per cent. That brought the company’s aluminium ingot price to INR 227,000 per tonne from INR 234,750 per tonne on June 14. As per the data revealed by the company, Hindalco’s aluminium ingot price underwent a slash of INR 8,000 per tonne or 3.29 per cent on June 14 to settle at INR 234,750 per tonne from INR 242,750 per tonne on June 11. Hindalco also dropped its aluminium wire rod price by INR 7,750 per tonne from INR 245,850 per tonne on June 14 to INR 238,100 per tonne on June 17. The price on June 14 was reduced by INR 8,000 per tonne from INR 253,850 per tonne on June 11. The price of aluminium billets nosedived by INR 7,750 per tonne as well, with...
National Aluminium Company Limited (NALCO) has again slashed INR 10,300 per tonne like last week from its aluminium ingot and aluminium products prices, marking the third consecutive cut since May 28. With effect from June 16, NALCO’s aluminium ingot price came in at INR 233,650-237150 per tonne versus INR 243,950 – 247,450 per tonne on June 8. NALCO’s aluminium wire rod price has also witnessed a cut of INR 10,300 per tonne, with effect from June 16, to stand at INR 236,150-240,500 per tonne. A week ago, the price hovered around INR 246,450 – 250,800 per tonne. Aluminium billets price stood at INR 237,100-239750 per tonne as of June 16, seeing the same amount of cut from INR 247,400 – 250,050 per tonne last week. NALCO links its aluminium ingot and aluminium products prices to the...
A00 aluminium ingot price in China has declined by RMB 250 per tonne to close the week, ending June 17, lower than RMB 20,000 per tonne. According to the Shanghai Metals Market, the price has precisely settled at RMB 19,910 per tonne, with average prices estimated to range between RMB 19,890 per tonne and RMB 19,930 per tonne and spot contracts to be traded at a discount price of 20 and a premium price of RMB 20 per tonne. In Tianjin, the primary aluminium ingot price has recorded the maximum decrease of RMB 280 per tonne to RMB 19,880 per tonne, followed by an RMB 270 per tonne cut in Shenyang to RMB 19,870 per tonne. In Hangzhou and Foshan, the A00 aluminium ingot prices have nosedived by RMB 250 per tonne to come in at RMB 19,970 per tonne and RMB 19,960 per tonne, respectively. The...
