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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According to the Shanghai Metals Market, social inventories of primary aluminium have decreased by 38,000 tonnes week-on-week across eight major consumption areas in China, including SHFE warrants, to come in at 965,000 tonnes as of Thursday, May 19. Compared to this Monday, May 16, the inventories have declined by 19,000 tonnes, while that in contrast to April-end descended by 22,000 tonnes. Low arrivals of stocks were the main reason for the inventory decline. The chart below indicates the current status of primary aluminium inventories across China in more details: In Wuxi and Gongyi, primary aluminium inventories have plunged by 28,000 tonnes and 20,000 tonnes, respectively, to come in at 441,000 tonnes and 85,000 tonnes, found SMM. Drop in stock arrivals amid normal cargo pick up was...
Hong Leong Investment Bank Bhd (HLIB) has maintained its “buy” rating on Press Metal Aluminium Holdings (PMetal) at RM5.28, with a lower target price of RM7.59 (down from RM7.71). HLIB forecasted a net profit of between RM420 million and RM470 million for Press Metal in 1Q2022, up 47 per cent to 64 per cent quarterly and 104 per cent to 128 per cent year-on-year. “If met, we would deem the results to be within our expectations as we believe that PMetal is on track to more than double its profits y-o-y in FY22 due to: (i) elevated aluminium prices; (ii) full commissioning of its Phase 3 Samalaju expansion; and (iii) further contribution from its 25%-owned PT Bintan alumina refinery,” said HLIB. Aluminium prices will make a reversal in expectation of an increase in aluminium consumption...
Emirates Global Aluminium has announced on Thursday, May 19, that its Al Taweelah site has again bagged the Aluminium Stewardship Initiative’s Performance Standard Certification for sustainable performance. The recertification covers EGA’s port, power generation, carbon plant, potlines, casthouse, and waste management including spent pot lining and dross. The Aluminium Stewardship Initiative acknowledges the efforts of metals and mining companies as well as end-users of aluminium towards the sustainability of the society. The ASI Performance Standard Certification is now a global benchmark for sustainability performance in the industry. Al Taweelah’s first ASI Performance Standard Certification dates back to 2019. The recertification is the first for an aluminium smelter in the Middle...
According to the government data, China’s aluminium import ratio tumbled by 37.7% in April 2022, compared with the first month of Q1 2021. The cause of this plunge is rooted in the aluminium price hike in the global market and the declining domestic consumption rate in China. Imported products, like primary metal, unwrought aluminium and aluminium alloy, amounted to 281,139 tonnes in April 2021, whereas, this year same month imports reduced by 105,850 tonnes. The last month of Q1 2022 had witnessed an 11.1% import hike than the first month of Q2. The Chinese import of bauxite, the primary material for making aluminium, amounted to 11.13 million tonnes in April, indicating a plunge of 4.9% from the recorded units of March. In Q2 2022 April, the total bauxite ore import resulted in 8.74...
Three-month LME aluminium opened at US$2,881 per tonne on Wednesday and closed at US$2,825 per tonne, down US$57 per tonne or 1.98 per cent. On Wednesday, May 18, both LME aluminium cash bid and LME aluminium official settlement price continued to grow for the fourth day in a row but at a slower pace than the previous day. The former increased by US$9.5 per tonne to US$2,844.50 per tonne, while the latter gained US$9 per tonne to US$2,845 per tonne. 3-month bid price and 3-month offer price climbed up by US$17 per tonne or 0.60 per cent on the same day to come in at US$2,873 per tonne and US$2,875 per tonne, respectively. December 23 bid price and December 23 offer price built up by US$5 per tonne to rest at US$2,813 per tonne and US$2,818 per tonne. LME aluminium opening stock continued...
On May 19, A00 aluminium ingot price in China has shot up by RMB 110 per tonne to close at RMB 20,510 per tonne, finds SMM. The average price is expected to orbit between RMB 20,490 per tonne and RMB 20,530 per tonne, with spot contract to be traded at a discount price of -20 per tonne and premium price of 20 per tonne. The price in Gongyi has witnessed the highest hike at RMB 170 per tonne to settle at RMB 20,510 per tonne. In Foshan, Chongqing and Tianjin, the price has surged by RMB 100 per tonne to peg at RMB 20,520 per tonne, RMB 20,510 per tonne and RMB 20,520 per tonne. As of today, in Hangzhou, Shenyang and Linyi, the price has escalated by RMB 110 per tonne to settle at RMB 20,560 per tonne, RMB 20,480 per tonne and RMB 20,590 per tonne. In Wuxi, the price has grown by RMB 115...
AlCircle is enthralled to announce its 11th publication of e-Magazine titled, “European Aluminium Industry: Focus 2022.” The e-Magazine will feature exclusive views and opinions from the key figures of the European aluminium industry and other stalwarts associated with the regional value chain. The magazine is expected to be launched in June 2022. Let us explore some of the brief points this e-Magazine will touch upon: Fluctuation in the aluminium price on the London Metal Exchange (LME) Sharp rise in energy prices driving the European aluminium production cost Disparity between demand and supply due to production curb in Europe and China and its impact on the downstream segment The geopolitical tension in the region Outlook for 2022 and long-term planning Since the beginning of 2022, the...
LME aluminium opened at US$2,839 per tonne on Tuesday and closed at US$2,882 per tonne, an increase of US$47 per tonne or 1.66 per cent. On May 17, LME aluminium cash bid price and LME aluminium official settlement price both moved upwards by US$45 per tonne or 1.61 percent to settle at US$2,835 per tonne and US$2,836 per tonne. 3-month bid price and 3-month offer price also hiked by US$36 per tonne or 1.27 percent to stop at US$2,856 per tonne and US$2,858 per tonne. December 23 bid price and December 23 offer price escalated by US$33 per tonne or 1.18 percent to record at US$2,808 per tonne and US$2,813 per tonne. LME aluminium opening stock pegged at 527375 tonnes. Live warrants and Cancelled warrants for the same day closed at 230075 tonnes and 297300 tonnes. LME aluminium3-month...
According to a recent report, Vedanta Aluminium has signed a long-term contract with the National Highways Authority of India (NHAI) to construct greener roads with fly-ash in Odisha. The news came on Tuesday, May 17, after Vedanta announced it officially in a statement, "The company has... entered a long-term partnership with the National Highways Authority of India (NHAI) for building greener roads with fly-ash in Odisha." Fly-ash, a by-product of thermal power generation using coal, is primarily used in the cement, construction, and infrastructure industries. The use of fly-ash improves product quality while saving around 700 to 800 kilogramme of carbon emissions and 341 litres of water. In the last fiscal year (FY2022), Vedanta Aluminium has utilised about 2.8 lakh tonnes of fly-ash...
Vedanta Aluminium has scored a hat-trick at Mission Energy Foundation’s 11th Fly Ash Utilization Conference Expo Awards for effective fly-ash management. Vedanta’s Jharsuguda Power Plant in Odisha has won in the category of >=500 MW and =500 MW, while its Chhattisgarh-based affiliate BALCO received an award under the Captive Power Plant classification. Vedanta Aluminium got the first position for its substantial efforts in assuring lucrative usage of fly-ash in circular economy channels out of the 160 organisations that had participated. Fly-ash is a by-product of coal-fired thermal power plants that supply electricity to Vedanta's aluminium smelters and also finds widespread use in the cement, building and infrastructure sectors, where they provide three-fold cost, quality, and...
On May 16, Romanian integrated aluminium company ALRO S.A. released its Interim Condensed Consolidated Financial Statements for the first quarter of 2022 (1Q2022). ALRO, one of the largest aluminium producers in Europe, registered a turnover of RON 1.1 billion in the first quarter of 2022, up 48 per cent from the first quarter of 2021 when it was RON 744 million. The group's turnover has risen due to a surge in aluminium prices on the London Metal Exchange (LME), coupled with an increase in demand for high value-added products, especially in the aerospace sector, combined with an increase in the exchange rate. Having said this, ALRO suffered a net loss of RON 18 million in the 1Q2022, down from RON 62 million in the previous quarter, due to rising utility and raw material prices on the...
Aluminium supplies to Europe to fill the scarcity in the region will further lower the aluminium inventories in LME-approved warehouses over the coming days and weeks from its current 17-year low. Citi analyst Max Layton has analysed and noted that aluminium supply will continue to remain weak in Europe as nearly 1.5 million to 2 million tonnes of output are at the risk of closure over the next three to twelve months. Record high power prices in Europe are continuously lifting the production costs of aluminium, resulting in output curtailments and shutdown. Western Europe accounts for about 10 per cent of global consumption estimated around 70 million tonnes this year. Aluminium shortage in Europe has resulted in large draws on LME aluminium stocks, which have already fallen by 72 per...
A00 aluminium ingot price has again decreased on alternate day by RMB 90 per tonne to stand at RMB 20,420 per tonne, as recorded by the Shanghai Metals Market on Tuesday, May 17. The average prices are estimated to range between RMB 20,400 per tonne and RMB 20,440 per tonne, with spot contracts to be traded at a discount price of RMB 20 per tonne and a premium price of RMB 20 per tonne. China has witnessed a countrywide decline in the aluminium ingot price, this Tuesday. In Shenyang and Tianjin, the primary aluminium ingot price has declined the highest by RMB 140 per tonne to RMB 20,370 per tonne and RMB 20,390 per tonne, followed by the plunge of RMB 110 per tonne in Linyi to settle at RMB 20,500 per tonne. In Wuxi and Hangzhou, the ingot price has plunged by RMB 90 per tonne to stop at...
LME aluminium opened at US$2,824.5 per tonne on Monday and closed at US$2,835 per tonne, an increase of US$7 per tonne or 0.25 per cent. On Monday, May 16, LME aluminium cash bid price surged by US$69 per tonne or 2.53 per cent to score at US$2,790 per tonne. On the same day, LME aluminium official settlement price also witnessed a hike of US$68 per tonne or 2.49 per cent to halt at US$2,791 per tonne. 3-month bid price and 3-month offer price also ascended by US$72 per tonne to stop at US$2,820 per tonne and US$2,822 per tonne. December 23 bid price and December 23 offer price escalated by US$52 per tonne or 1.90 per cent to settle at US$2,775 per tonne and US$2,780 per tonne. LME aluminium opening stock dropped from 539800 tonnes to 532500 tonnes. Live warrants and Cancelled warrants...
The world's largest aluminium single-site smelter, Aluminium Bahrain B.S.C. (Alba) is on course to start building its fourth additional block at Power Station Five. The above remarks were made by Shaikh Daij Bin Salman Bin Daij Al Khalifa, Chairman of Alba's Board of Directors, during the signing ceremony with Mitsubishi Power & SEPCO III consortium on 16 May 2022 at Al Oasis Hall in Alba. Counting 680.9 megawatts (MW) of Combined Cycle Gas Turbines at Alba, Mitsubishi Power, a power solutions brand of Mitsubishi Heavy Industries, Ltd. (MHI), and SEPCO III consortium signed a full turnkey contract for the expansion on 16 th May. Mitsubishi Power Ltd. President and CEO Hideshi Kawamoto, Dr Javier Cavada, President of Mitsubishi Power Middle East and North Africa and GTCC Business Unit...
According to the Shanghai Metals Market, social inventories of primary aluminium have declined over the weekend ending May 16 by 19,000 tonnes or 1.89 per cent across eight major consumption areas, including SHFE warrants. On a year-on-year calculation, the inventories are down by 77,000 tonnes coming in at 984,000 tonnes. This has also marked a month-on-month downfall of 55,000 tonnes. The chart below indicates the current status of primary aluminium inventories across China in more details: Inventory in Wuxi has declined the most on Monday, May 16, by 14,000 tonnes to stand at 455,000 tonnes, followed by the decrease of 8,000 tonnes in Gongyi to 97,000 tonnes. In Hangzhou and Chongqing, inventories have inched down by 1,000 tonnes to settle at 55,000 tonnes and 5,000 tonnes,...
Aluminium stocks in the London Metal Exchange have decreased to a record low but the sign of supply shortages has yet not wobbled the bearish sentiment of the global metal price anticipating weaker demand in the near future. According to the data shown by London Metal Exchange, on-warrant aluminium inventories have dropped 9.7 per cent to total 260,275 tonnes, surpassing the previous low in the year 2000. Stockpiles have plummeted by 63 per cent this year, approaching towards a record annual decline and deepened deficit, due to robust demand amid production curtailments. But despite the incessant fall in stocks, the LME aluminium price has retreated from the earlier gains, which indicates the fact that the industry focus is now on the risks of low demand. The mood in metals markets has...
Hindalco Industries Limited raised its aluminium ingot and aluminium products prices for the third day in a row, with effect from Saturday, May 14. As per the revised prices, the company’s aluminium ingot price saw a rise of INR 2,250 per tonne or 1 per cent to INR 243,500 per tonne. On Friday, May 13, the price stood at INR 241,250 per tonne, seeing an increase of INR 1,500 per tonne from the previous day. Hindalco’s aluminium wire rod price also experienced a growth of INR 2,250 per tonne from INR 252,350 per tonne on May 13 to INR 254,600 per tonne on May 14. Aluminium billets price came in at INR 257,600 per tonne, also up by the same amount from INR 255,350 per tonne. Hindalco continued to expand its aluminium prices for the third consecutive day in response to the upswing of the LME...
