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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Vedanta Limited has reduced its aluminium ingot and aluminium products prices by INR 5,500 per tonne or 2 per cent, with effect from Saturday, June 11, following a hike on June 9. That has brought the company’s aluminium ingot price to INR 242,500-275,500 per tonne versus INR 248,000-281,000 per tonne on Thursday, June 9. Vedanta aluminium ingot price on June 9 had seen a rise of INR 4,250 from the previous day. With effect from June 11, Vedanta’s aluminium wire rod price has come in at INR 250,000-257500 per tonne after being slashed by INR 5,500 per tonne. On June 9, the price stood at INR 255,500-263,000 per tonne, up by INR 4,250 per tonne from 251,250-258750 on June 8. Aluminium billets selling price is currently standing at INR 251,500 per tonne, also down by INR 5,500 per tonne...
LME aluminium cash bid price and LME aluminium official settlement price resumed the week on Monday, June 6, with a sharp rise of US$40 per tonne and US$40.50 per tonne to come in at US$2,741 per tonne and US$2,742 per tonne, respectively. On Tuesday, June 7, the prices decreased by US$27 per tonne or 0.98 per cent to close at US$2,714 per tonne and US$2,715 per tonne, but rebounded the next day to US$2,765 per tonne and US$2,765.50 per tonne. On Thursday, June 9, LME aluminium cash bid price and LME aluminium official settlement price again decreased to halt at US$2,752 per tonne and US$2,752.50 per tonne, and further slipped on Friday, June 10, to close the week at US$2,694.50 per tonne and US$2,695 per tonne. 3-month bid price and 3-month offer price also started the week with a hike...
According to the Shanghai Metals Market, China produced 3.435 million tonnes of aluminium in May (31 days), which registered an increase of 4.15 per cent from 3.298 million tonnes in April (30 days). On a year-on-year basis, the output in May grew 3.6 per cent from 3.32 million tonnes. The daily average production of aluminium amounted to 110,800 tonnes in May’22, up by 800 tonnes month-on-month and 3,900 tonnes on the year. During January-May 2022, aluminium production in China totalled 16.199 million tonnes, a decrease of 0.39 per cent from 16.25 million tonnes during the same period last year. In May, China’s domestic aluminium saw both increase and decrease in supply and a slight hike in production capacity. Enterprises in Yunnan, Guangxi and Henan resumed operations and put new...
As recorded by the Shanghai Metals Market, China’s social inventories of primary aluminium witnessed a downfall on Friday, June 9, across eight primary consumption areas. According to the data provided by SMM, the aluminium ingot inventory fell sharply by 29,000 tonnes week-on-week compared with last Thursday. Yesterday, the primary ingot social inventories stood at 853,000 tonnes in total versus 882,000 tonnes on June 2. SMM also calculated that the inventories as of June 2 were 70,000 tonnes lower than the end of May. Enthusiastic consumption of the metal amid weaker arrivals of stocks led to the decline in inventories on June 9. The chart below refers the current status of primary aluminium inventories across China in more details: The aluminium ingot inventories plunged the highest in...
On Thursday, June 9, Hindalco Industries Limited’s aluminium ingot and aluminium products prices trended up by INR 4,250 per tonne or 1.74 per cent. That brought the company’s aluminium ingot price to INR 248,250 per tonne from INR 244,000 per tonne on June 8. As per the data revealed by the company, Hindalco’s aluminium ingot price underwent a slash of INR 2,000 per tonne or 0.81 per cent on June 8 from INR 246,000 per tonne on June 7. Hindalco also increased its aluminium wire rod price by INR 4,250 per tonne from INR 255,100 per tonne on June 8 to INR 259,350 per tonne on June 9. The price on June 8 was reduced by INR 2,000 per tonne from a day before. The price of aluminium billets expanded by INR 4,250 per tonne as well, with effect from June 9, to halt at INR 262,350 per tonne. The...
On Friday, June 10, the average alumina spot price in China stopped at RMB 2,964 per tonne, declining by RMB 8 per tonne, as the SMM data shows. The alumina price in Henan has dropped by RMB 15 per tonne to halt at RMB 3,035 per tonne. Alumina's price in Guizhou has marked RMB 5 per tonne fall, resulting in RMB 2,950 per tonne. Lastly, the alumina price in Shanxi has stooped down RMB 10 per tonne to close at RMB 2,880 per tonne. A00 aluminium price in China has plunged by RMB 280 per tonne on Friday, June 10, to close the week lower at RMB 20,500 per tonne, as the Shanghai Metals Market data read. The average aluminium prices are expected to range between RMB 20,480 per tonne and RMB 20,520 per tonne, while spot contracts trading at a discount price of RMB 90 per tonne and RMB 50 per...
LME aluminium opened at US$2,836 per tonne on Thursday, June 9, and closed at US$2,760 per tonne, down by US$76 per tonne or 2.68 per cent. LME aluminium cash bid price and LME aluminium official settlement price decreased on an alternate day, June 9, by US$13 per tonne or 0.47 per cent to stand at US$2,752 per tonne and US$2,752.50 per tonne, following a hike of 1.9 per cent on the previous day. 3-month bid price and 3-month offer price dropped by US$12 per tonne to settle at US$2,785 per tonne and US$2,786 per tonne. December 23 bid price and December 23 offer price halted at US$2,727 per tonne and US$2,732 per tonne, respectively, both down by US$28 per tonne. LME aluminium opening stock continued to decline by 3,950 tonnes to stop at 430050 tonnes. Live warrants and Cancelled warrants...
Sustainability lies at the heart of the Brazilian aluminium sector, serving as a motivator for decision-making and project implementation. From mining to recycling, ABAL promotes enterprises along the value chain. Companies in the Brazilian aluminium value chain have now obtained ASI certification at every level of the process, including bauxite mining, alumina production, and primary aluminium manufacturing. Companies in the primary metal processing and recycling sectors have also been certified. The primary goal of ABAL's membership in ASI was to encourage its affiliates to get ASI certification, which is well-known in the aluminium consumer market. ASI is more than just a certification; it supports and promotes the most sustainable practices. It's becoming even more important since it...
LME aluminium opened at US$2,788 per tonne on Wednesday and closed at US$2,836 per tonne, up US$49.5 per tonne or 1.78 per cent. LME aluminium cash bid price expanded by US$51 per tonne or 1.87 per cent to score at US$2,765 per tonne. LME aluminium official settlement price also witnessed growth by US$50.5 per tonne or 1.86 per cent to settle at US$2,765.50 per tonne as of June 8. 3-month bid price and 3-month offer price soared up by US$52.5 per tonne or 1.91 per cent and US$53 per tonne or 1.93 per cent to close at US$2,797 per tonne and US$2,798 per tonne. December 23 bid price and December 23 offer price for the same day halted at US$2,755 per tonne and US$2,760 per tonne, after dropping by US$47 per tonne or 1.73 per cent. LME aluminium opening stock stopped at 434000 tonnes. Live...
National Aluminium Company Limited has continued to reduce its aluminium ingot and aluminium products prices, with effect from Wednesday, June 8, following the previous cut on May 28. As per the revised prices revealed by NALCO, the company has deducted INR 10,300 per tonne from its previous aluminium ingot price, bringing it to INR 243,950 – 247,450 per tonne versus INR 254,250 – 257,750 per tonne. NALCO’s aluminium wire rod price has come in at INR 246,450 – 250,800 per tonne today, June 8, also reduced by INR 10,300 per tonne from INR 256,750 – 261,100 per tonne on May 28. NALCO’s aluminium billets price has been raised by the same amount to INR 247,400 – 250,050 per tonne, from INR 257,700 – 260,350 per tonne. NALCO has further reduced its aluminium ingot and aluminium products prices...
China’s A00 aluminium ingot price falls for two days in a row by RMB 20 per tonne to stand at RMB 20,800 per tonne, as recorded by the Shanghai Metals Market on Wednesday, June 8. The average prices are supposed to range between RMB 20,780 per tonne and RMB 20,820 per tonne, with spot contracts trading at discount prices of RMB 70 per tonne and RMB 30 per tonne. The primary aluminium ingot price has witnessed the highest slump in Foshan by RMB 90 per tonne to stop at RMB 20,680 per tonne today, followed by an RMB 70 per tonne cut in Chongqing to RMB 20,760 per tonne. The other provinces like Gongyi and Shenyang have suffered RMB 30 per tonne loss to rest at RMB 20,720 per tonne and RMB 20,730 per tonne, respectively. In Hangzhou, the primary aluminium ingot price has dipped by RMB 10 per...
According to the US Census Bureau data, the United States’ domestic primary aluminium production in March 2022 recorded an increase of 9,000 tonnes or 12 per cent month-on-month to stand at 84,000 tonnes. However, in February, the output stood 8.54 per cent lower at 75,000 tonnes compared to 82,000 tonnes in January. On a year-on-year basis, primary aluminium production in the US during March 2022 also registered a hike of 9,000 tonnes, showed the USGS data. The United States’ total production of primary aluminium in the first quarter of 2022 amounted to 241,000 tonnes, up by 4.78 per cent or 11,000 tonne from 230,000 tonnes in Q4 2021. The average daily production in March 2022 was 2,730 tonnes, slightly higher than 2,670 tonnes in February and 320 tonnes more than 2,410 tonnes in March...
LME aluminium opened at US$2,787.5 per tonne on Tuesday and closed at US$2,786.5 per tonne, down US$2.5 per tonne or 0.09 per cent. On Tuesday, June 7, both LME aluminium cash bid price and LME aluminium official settlement price declined by US$27 per tonne or 0.98 per cent to close at US$2,714 per tonne and US$2,715 per tonne. On the same day, 3-month bid price and 3-month offer price also witnessed a plunge by US$27.5 per tonne or 0.99 per cent and US$29 per tonne or 1.04 per cent to record at US$2,744.50 per tonne and US$2,745 per tonne. December 23 bid price and December 23 offer price went down by US$24 per tonne or 0.87 per cent to come in at US$2,708 per tonne and US$2,713 per tonne. LME aluminium opening stock closed at 441725 tonnes. Live warrants and Cancelled warrants halted at...
The incident in Guangdong's southern region, where many traders claimed that they were misled into extending a credit against fictitious quantities of aluminium, has stirred China’s metals market. As per the report, more than RMB 500 million ($75 million) may have been duped, secured by metal stocks kept in a warehouse in Foshan that proved out to be worth substantially less. The numbers mentioned are insignificant, especially in the context of China's aluminium market. Last year, China produced almost $100 billion in lightweight metal, which was used in everything from window frames to automotive parts. This incident is similar to the Qingdao scandal that had rocked China’s metal market eight years ago. Whether it's wheat, copper, or oil, commodity trading is often a high-volume,...
To offer a consolidated package of industrial insights into the global aluminium value chain, AlCircle has handpicked some of its exclusive reports to present them in a cluster, much suited for you. Options are plenty as you can pick a single report or choose an assortment of two or three. Not to forget, all are offered at special prices and for limited period. If you are yet to know how this year is going to unfurled for the aluminium industry, then our Global Aluminium Industry Outlook 2022 report is available only for US$499. If you wish to brush up your knowledge on dross processing while learning the industry outlook, then feel free to add our twin pack Outlook 2022+Dross Processing to your cart, priced at US$899. To add detailed learning on recycling, then a special triplet offer is...
A00 aluminium ingot price has dropped by RMB 20 per tonne to settle at RMB 20,820 per tonne on Tuesday, June 7, after a day of sizeable price rise, as noted by the Shanghai Metals Market (SMM). The average price of aluminium ingots are estimated to range between RMB 20,800 per tonne and RMB 20,840 per tonne, with spot contracts to be traded at a discount price of RMB 70 per tonne and RMB 30 per tonne. The primary aluminium ingot price has witnessed the highest slump in Gongyi by RMB 40 per tonne to stop at RMB 20,750 per tonne today. The other provinces like Wuxi, Foshan, and Shenyang have suffered an RMB 20 per tonne cut to rest at RMB 20,790 per tonne, RMB 20,770 per tonne, and RMB 20,760 per tonne, respectively. In Hangzhou the aluminium ingot price has dipped by RMB 10 per tonne to...
LME aluminium opened at US$2,758 per tonne on Monday and closed at US$2,789 per tonne, up US$65 per tonne or 2.39 per cent. Both LME aluminium cash bid price and LME aluminium official settlement price resumed the market after the Bank Holiday with a sharp rise of US$40 per tonne and US$40.50 per tonne, respectively, to stand at US$2,741 per tonne and US$2,742 per tonne as of Monday, June 6. 3-month bid price and 3-month offer price also recorded a hike of US$44 per tonne to come in at US$2,772 per tonne and US$2,774 per tonne, respectively. December 23 bid price and December 23 offer price totalled US$2,732 per tonne and US$2,737 per tonne, up by US$22 per tonne or 0.81 per cent from the previous day. LME aluminium opening stock dwindled by 3,375 tonnes to settle at 450,500 tonnes. Live...
Social inventories of primary aluminium in China have continued to decline by 8,000 tonnes over the weekend ended Monday, June 6, across eight major consumption areas, including SHFE warrants. According to the Shanghai Metals Market, the further decline in inventories has brought the total volume to 874,000 tonnes. The weekly shipment out of warehouses rose to 188,000 tonnes, a new high this year, leading to the drop in inventories. The chart below indicates the current status of primary aluminium inventories across China in more details: On June 6, decline in primary aluminium inventories has been led by Wuxi, wherein stocks have decreased by 19,000 tonnes over the weekend to amount to 358,000 tonnes. In Shanghai, inventories have declined by 10,000 tonnes to come in at 44,000 tonnes....
