Vietnam’s first electrolytic aluminium project has reached another major milestone, with the second phase of the 450,000-tonne-per-year (tpa) Da Nong project producing its first batch of molten primary aluminium on October 31, 2026. The milestone, achieved by China Nonferrous Metal Industry’s Foreign Engineering and Construction Co., Ltd. (NFC), which is the project’s general contractor, came four months and three days ahead of the contractual schedule, officially moving the second phase from construction to trial production. The latest development builds on the progress made during the first phase, which produced its first batch of molten primary aluminium on July 14. By September 15, all electrolytic cells in the first phase had successfully started producing aluminium. The second...
The London Metal Exchange (LME) aluminium price graph dipped across the pricing and contract segments on the November 2 trading session, reporting declines over the October 30 close . The Asian Reference Price and alumina Platts price, on the other hand, reported nearly 1 per cent gains. The LME aluminium cash bid price dipped by 0.63 per cent from USD 3,113.5 per tonne to USD 3,094 per tonne. The offer price moved from USD 3,114 per tonne to USD 3,095 per tonne, down 0.61 per cent day-on-day. Explore: Most comprehensive and forward-looking industry-focused report — Global Bauxite & Alumina Market Forecast to 2036: Supply–Demand, Trade Flows & Price Outlook The LME aluminium three-month bid advanced from USD 3,078 per tonne from USD 3,059.5 per tonne, decreasing by 0.6 per cent. The offer...
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The Emirati state-owned holding company, Mubadala Investment that can be characterized as a sovereign wealth fund is expected to select three top US banks as lead underwriters for a prospective IPO of Emirates Global Aluminium (EGA), as reported by the industry professionals. Mubadala Investment, the sovereign wealth fund, an organization that is strongly connected to Mohamed bin Zayed, the Crown Prince of Abu Dhabi is composing to bring on board Citigroup Inc., Goldman Sachs Group Inc. and JPMorgan Chase & Co. to arrange the planned IPO, as per our information collected from the experts. They further stated the share sale could value Middle East’s largest aluminium producer, EGA at more than $15 billion. Emirates NBD Bank PJSC and First Abu Dhabi Bank PJSC are also anticipated to get...
National Aluminium Company Limited (NALCO) has decreased its aluminium ingot and aluminium products prices with effect from Wednesday, September 1. After rebounding by INR 8,000 per tonne on August 25, NALCO’s aluminium ingot price has reduced by INR 2,000 per tonne or 0.88 per cent from INR 226,750-230,250 per tonne on August 25 to INR 224,750-228,250 per tonne on September 1. NALCO’s aluminium wire rod price has come in at INR 227,250-231,600 per tonne, declining by INR 2,000 per tonne from INR 229,250-233,600 per tonne in the previous week. The company’s aluminium billets price has also seen a cut of INR 2,000 per tonne to stand at INR 228,200-230,850 per tonne with effect from September 1. NALCO, like any other Indian aluminium producer, links its aluminium ingot and aluminium product...
According to the Shanghai Metals Market, social inventories of primary aluminium across eight major Chinese consumption areas have fallen this week by 5,000 tonnes after recording hikes for the past three consecutive weeks. SMM data shows the inventories have come in at 749,000 tonnes as of September 2, compared to 753,000 tonnes last week. The chart below indicates the current status of primary aluminium inventories across China in more detail: Wuxi, Gongyi, and Shanghai have contributed most of the decline as inventories there have decreased by 10,000 tonnes, 6,000 tonnes, and 2,000 tonnes, respectively. Therefore, the inventory in Wuxi has come in at 235,000 tonnes, Gongyi 63,000 tonnes, and Shanghai 71,000 tonnes. Meanwhile, inventory in Nanhai has grown due to poor demand by 11,000...
Hindalco Industries Limited has decreased its aluminium ingot and aluminium products prices with effect from Thursday, September 2, after increasing them for three consecutive times from August 24-28. From today, Hindalco is selling its aluminium ingot at INR 225,750 per tonne, down by INR 4,000 per tonne from INR 229,750 per tonne on August 28. Hindalco’s aluminium wire rod price has come in at INR 236,850 per tonne with effect from September 2, a decrease of INR 4,000 per tonne as well from INR 240,850 per tonne. The company’s aluminium billets price has also seen a cut of INR 4,000 per tonne from INR 236,850 per tonne on August 28 to INR 232,850 per tonne on September 2. <iframe width="500" height="380" src="https://www.youtube.com/embed/Cn4YIgmVRc0" title="YouTube video player"...
Vedanta Limited, the mining and metal giant has released the sixth edition of its ‘Tax Transparency Report’ for fiscal 2020-2021. The company is also well recognised as India's biggest producer of aluminium and one of the largest power generators in India. The report highlights the commodity conglomerate’s focus on transparency, greater accountability towards stakeholders, compliance and details of economic contribution to the society by way of taxes paid. Vedanta’s contribution to the exchequer during FY 2020-21 was INR 34,562 crore which accounts for 40% of the consolidated turnover. However, amid the challenges caused by the Covid-19 pandemic during the fiscal, Vedanta’s tax contribution in FY21 was nearly INR 550cr higher than the existing financial year. The tax contribution of...
A joint research study by two European climate think tanks clearly stated that the European Union’s proposal of the world’s first carbon tax is likely to strike Russia hefty while China to remain fairly unscratched. In July, the EU proposed a Carbon Border Adjustment Mechanism (CBAM), or we can commonly say CO2 tariff, on highly emitting products from 2026, pushing some businesses importing into the EU, will be forced to pay carbon costs at the border on carbon-intensive products such as aluminium and steel. However, according to the European Commission proposals, the CBAM will be introduced in 2023 in advance before becoming fully functional in 2026. The sectors which will be incorporated in the CBAM imply only around 3.2% of the total imports incoming to the EU per year, whereas, their...
A00 aluminium ingot price in China has recorded an increase of RMB70 per tonne on Thursday, September 2, following a downfall of RMB80 per tonne on the previous day. According to the Shanghai Metals Market, primary aluminium ingot price has come in at RMB21,230 per tonne, with average prices likely to range between RMB21,210-21,250 per tonne. The spot contract is expected to be traded at a premium price of RMB40-0 per tonne. In Foshan, A00 aluminium ingot price has gained RMB110 per tonne to stand at RMB21,350 per tonne, while the price in Wuxi, Hangzhou, and Shenyang has increased by RMB100 per tonne to RMB21,230 per tonne, RMB21,260 per tonne, and RMB21,225 per tonne, respectively. Primary aluminium ingot price in Gongyi, Chongqing, and Linyi has grown by RMB80 per tonne to settle at...
LME aluminium opened at US$2,710 per tonne on Wednesday morning and closed at US$2,693.50 per tonne, down by US$13 per tonne or 0.48 per cent. LME aluminium cash (bid) price and LME official settlement price plunged by US$46.50 per tonne to stand at US$2,667.50 per tonne on Wednesday, September 1, following the two consecutive days of rise to a 10-year high. 3-months bid price and 3-months offer price declined by US$31.50 per tonne to come in at US$2,664.50 per tonne. Dec 22 bid price and Dec 22 offer price hovered around US$2,620 per tonne, down by US$28 per tonne from US$2,648 per tonne on August 31. LME aluminium opening stock increased from 1334675 tonnes to 1336850 tonnes. Live Warrants stood at 862625 tonnes, while Cancelled Warrants totalled 474225 tonnes. LME aluminium 3-months...
The world aluminium sector in August 2021 demonstrated a sharp rise in demand for the metal from every corner of the earth. The month observed the surge in the price of aluminium, which escalated by over 30% from $ 2013.50 per tonne to US$ 2673.50 per tonne, while it has been recorded as a 10 year high. However, the major reason behind this is due to limited production in China, the world’s largest aluminium producer, for restricted-energy usage is reportedly rippling through the cost of end-user products. During a conversation with Dr Tapan Kumar Chand, Resident Director - Vedanta & Former Chairman cum Managing Director of National Aluminium Company (NALCO), said AlCircle on the issue of the spike in the price of aluminium: “The surge in prices of Aluminium is a part of the general surge...
On Monday, August 30, the China Nonferrous Metals Industry Association (CNIA) held a meeting attended by the country’s top aluminium smelters to discuss the continuous surge in aluminium prices, both on the Shanghai Futures Exchange and the London Metal Exchange. Reaching at a 13-year high, aluminium price on the Shanghai Future Exchange stood at RMB21,550 per tonnes on Monday, the highest since August 2008, driven by production curbs in key Chinese smelting regions due to flood and strict power consumption restrictions. On a year-to-date basis, Shanghai aluminium price is up by more than 37 per cent even after releasing some metal from state reserves, in a bid to ease cost pressure on manufacturers. On Tuesday, August 31, the LME aluminium benchmark price notched a 10-year peak at...
The largest aluminium producer in Brazil, Companhia Brasileira de Alumínio (CBA) has accomplished the acquisition of a 49% stake in a 171.6-MW wind portfolio from VTRM Energia, the collaboration formed by Votorantim Energia and Canada Pension Plan Investment Board (CPPIB). The $11.40 million deal was executed directly by CBA and indirectly via CBA's subsidiary CBA Itapissuma Ltda that produces aluminium sheets and foils. On 30 th August 2021, CBA stated: “All parties involved entered into the shareholders’ agreements for the targeted wind energy companies holding the capacity.” “CBA and CBA Itapissuma will exclusively hold 100% of the class B common shares in targets -- Ventos de Santo Anselmo Energias Renovaveis SA and Ventos de Santo Isidoro Energias Renovaveis SA -- which is equivalent...
Three-month LME aluminium rose 1.98 per cent to end at US$ 2,706.50 per tonne on Tuesday, August 31. LME aluminium cash (bid) price and LME official settlement price opened the week on Tuesday, August 31, with a surge of US$ 40.50 per tonne to US$ 2,714 per tonne. On Monday, August 30, the LME market was closed for a summer bank holiday. As of Tuesday, 3-months bid price and 3-months offer price also climbed by US$ 40.50 per tonne to come in at US$ 2,696 per tonne. Dec 22 bid price and Dec 22 offer price hovered around US$ 2,648 per tonne, up by US$ 30.50 per tonne from US$ 2,617.50 per tonne on August 27. LME aluminium opening stock slipped from 1338125 tonnes to 1334675 tonnes. Live Warrants stood at 849900 tonnes, while Cancelled Warrants totalled 484775 tonnes. LME aluminium 3-months...
On 31 st August 2021, a group of high-level Australian delegates spearheaded by the High Commissioner of Australia to India, Barry O’Farrell visited NALCO’s corporate office in Bhubaneswar, Odisha. The Australian delegates during the visit conversed with NALCO’s CMD, Sridhar Patra and the members of the Navratna CPSE Company’s management team. The state-owned integrated aluminium company, NALCO updated the group of Australian delegates about the various business pursuits of the organisation, comprising the entire value chain of Aluminium manufacturing, get going from mining of bauxite to production of world-class aluminium end products. The business operations of Nalco was highly admired by the Australian delegation and they manifested The delegation from Australia highly appreciated the...
The sharp spike in aluminium prices to the 10-year high due to limited production in China, the world’s largest aluminium producer, for restricted energy usage is reportedly rippling through the cost of end-user products, right from Heineken cans to kitchen wrap. Until now this year, the global aluminium prices have climbed by over 30 per cent from US$ 2013.50 per tonne to US$ 2673.50 per tonne. This has been a boon for Pittsburgh-based Alcoa, the world’s eighth-largest aluminium producer, whose stock price has almost doubled during this span. But for many other companies like Reynolds Consumer Products and Heineken cans, aluminium price rally has resulted in a different story. Reynolds Consumer Products’ CFO recently told analysts that it’s facing hikes in production costs due to higher...
The LME market was closed on Monday, August 30, for a summer bank holiday and will resume trading on Tuesday, August 31. As of Friday, August 27, LME aluminium cash (bid) price and LME official settlement price surged by 38.50 per tonne or 1.46 per cent to close at US$ 2,673.50 per tonne. 3-months bid price and 3-months offer jumped US$ 41 per tonne from US$ 2,614.50 per tonne to US$ 2,655.50 per tonne. Dec 22 bid price and Dec 22 offer price hovered around US$ 2,617.50 per tonne, up by US$ 37.50 per tonne from US$ 2,580 per tonne on August 26. LME aluminium opening stock continued to increase from 1306950 tonnes to 1338125 tonnes. Live Warrants stood at 897775 tonnes, while Cancelled Warrants totalled 440350 tonnes. LME aluminium 3-months Asian Reference Price settled at US$ 2,653.04per...
On 30 th August, the apex body representing the entire spectrum of the Indian Aluminium Industry, Aluminium Association of India (AAI) seeks intervention of the government-owned coal mining and refining corporation, CIL to normalise the uncertain situation that has emerged due to the interruption of coal supplies and rakes for captive power plants, resulting in a dearth of dry-fuel for the aluminium sector. The AAI signified in a letter to Coal India Ltd. (CIL)'s CMD: “This ‘ad-hoc decision’ without advance notice has brought the industry to a standstill with no time to devise mitigation plans to continue sustainable operations.” “This has reference to the crisis that has developed for the entire aluminium sector due to the recent ad hoc decision for stopping/drastically curtailing the...
Sohar Aluminium Company, the first aluminium smelter in the Sultanate of Oman, has reportedly overcome all the challenges posed by the COVID-19 pandemic since early 2020 and has successfully achieved an annual primary aluminium production of 396,929 tonnes. That exceeded the smelter’s production capacity of 395,000 tonnes, primarily driven by the proactive and timely measures taken by the management of the company. So far, this year is also witnessing a similar trend in production and other overall Key Performance Indicators (KPIs). Sohar Aluminium, jointly owned by the Omani government (40%), Abu Dhabi National Energy Company (TAQA) (40%) and Rio Tinto Alcan Inc. (20%), houses 360 pots that operate at 398kA using the latest and most efficient AP39 technology provided by Rio Tinto Alcan....
Emirates Global Aluminium reported strong half-year financial performance ever. The company’s profit stood at AED 1.74 billion ($473 million in the first half of 2021. Adjusted EBITDA came in at AED 3.49 billion ($950 million), an increase of 111 per cent year-on-year. “Some 86 per cent of the company’s metal sales were value-added products compared to 75 per cent in H2 2020 and 69 per cent in H1 2020,” EGA said. Al Taweelah alumina refinery produced 1.09 million tonnes, above the nameplate capacity of the plant which was commissioned in 2019. Guinea Alumina Corporation exported 5.85 million tonnes of bauxite ore as ramp-up continued, up from 5.47 million tonnes in H2 2020. Abdulnasser Bin Kalban, Chief Executive Officer of EGA, said: “Global demand for aluminium, the metal that makes...
