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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Vedanta Limited has extended growth of its aluminium ingot and aluminium product prices on Friday, August 13. The company’s aluminium ingot price has come in at INR 225,000-238,000 per tonne, up by INR 1,500 per tonne from INR 223,500-236,500 per tonne on August 11. Vedanta’s aluminium wire rod price has also seen an increase of INR 1,500 per tonne from INR 231,000-238,500 per tonne on August 11 to INR 232,500-240,000 per tonne on August 13. Aluminium billet price is hovering at INR 233,000 per tonne, gaining INR 1,500 per tonne from the previous day. Vedanta limited links its aluminium ingot and aluminium product prices to the three-month futures of aluminium on the London Metal Exchange, which after August 10 built-up US$ 23 per tonne to reach at US$ 2,602 per tonne as of August 12. On...
A00 aluminium ingot price in China has climbed by RMB 30 per tonne to close the week, ending on Friday, August 13, at RMB 20,050 per tonne, found the Shanghai Metals Market. The average prices are expected to range between RMB 20,030 per tonne and RMB 20,070 per tonne, with spot contract to be traded at a premium price of RMB 50-10 per tonne. Among all the major Chinese cities, Tianjin has seen the highest rise of RMB 60 per tonne to RMB 20,060 per tonne. In Hangzhou, primary aluminium ingot price has increased by RMB 25 per tonne to RMB 20,080 per tonne, while the price in Gongyi, Foshan, and Linyi has grown by RMB 20 per tonne to stand at RMB 19,930 per tonne, RMB 20,200 per tonne, and RMB 20,060 per tonne, respectively. In Shenyang and Wuxi, A00 aluminium ingot price is up by RMB 15...
Three-month LME aluminium increased 0.21 per cent to end at US$ 2,580.50 per tonne on Thursday, August 12. LME aluminium cash (bid) price and LME official settlement price built-up US$ 24 per tonne to stand at US$ 2,602 per tonne on Thursday, August 12, following a dip of US$ 1 per tonne in the previous day. 3-months bid price and 3-months offer price increased from US$ 2,577.50 per tonne to US$ 2,600 per tonne. Dec 22 bid price and Dec 22 offer price hovered around US$ 2,577.50 per tonne, up by US$ 36 per tonne from August 11. LME aluminium opening stock decreased from 1340225 tonnes to 1333575 tonnes. Live Warrants stood at 836850 tonnes, while Cancelled Warrants totalled 496725 tonnes. LME aluminium 3-months Asian Reference Price settled at US$ 2,589.87 per tonne as of August 12. SHFE...
According to the Shanghai Metals Market, China’s social inventories of primary aluminium gained 7,000 tonnes over the week across eight major consumption areas, including SHFE warrants. Thus, as of Thursday, August 12, primary aluminium inventories in China have come in at 739,000 tonnes. China has witnessed the increased inventories this week after five consecutive weeks of downfall since July 8. Last Thursday, on August 5, China’s primary aluminium inventories stood at 732,000 tonnes, declining by 26,000 tonnes from the previous week. The chart below indicates the current status of primary aluminium inventories across China in more details: In Wuxi, primary aluminium inventories have increased by 12,000 tonnes week-on-week to stand at 268,000 tonnes, while the inventories in Nanhai and...
Three-month LME aluminium dipped 0.04 per cent to end at US$ 2,585 per tonne on Wednesday, August 11. LME aluminium cash (bid) price and LME official settlement price dipped slightly by US$ 1 per tonne to stand at US$ 2,578 per tonne on Wednesday, August 11, following a hike of US$ 32 per tonne in the previous day. 3-months bid price and 3-months offer price dropped by US$ 7.50 per tonne to come in at US$ 2,577.50 per tonne. Dec 22 bid price and Dec 22 offer price hovered around US$ 2,541.50 per tonne, down by US$ 9.50 per tonne from August 10. LME aluminium opening stock grew from 1339100 tonnes to 1340225 tonnes. Live Warrants stood at 836850 tonnes, while Cancelled Warrants totalled 503375 tonnes. LME aluminium 3-months Asian Reference Price settled at US$ 2,583.72 per tonne as of...
The first primary aluminium producer of Oman, Sohar Aluminium, jointly owned by OQ Group, Abu Dhabi National Energy Company PJSC - TAQA and Rio Tinto Alcan stated it has closed the financial book of pandemic stressed 2020 with “positive bottom-line results” amid a collapse in global aluminium prices on the London Metal Exchange (LME) in 2020. The world-scale aluminium smelter in Sohar described 2020 as an “abnormal year” that sent aluminium prices on the LME tumbling to below $1500 per tonne during Q2 2020. The company stated in its 2020 Sustainability report: “Despite difficult market situations, SA concluded the year with positive financial results above Business Plan supported by lower cost of production coupled with an increase in production volume.” SA specified this measure it...
The Tomago aluminium smelter in the Hunter Valley region of Australia, which is considered as the biggest energy user of the nation has declared that it plans to shift towards 100% renewable energy by 2030, anticipating an early conclusion with AGL’s Bayswater coal-burning power station that cast up Tomago as its biggest customer. Matt Howell, CEO, Tomago Aluminium said: “Our goal would be, by 2029, that the largest load in Australia is, for all intents and purposes, 100 per cent renewable.” Glenn Walker, Senior Campaigner, Greenpeace Australia Pacific said: “The news meant that it would be almost impossible for Bayswater to remain operating beyond 2029.” “This announcement is a game-changer for Australian energy, and underscores the need for AGL, Australia’s biggest coal power operator,...
The year 2020 will be marked in the history of industrialization as one of the most challenging years in the modern era. The Covid-19 pandemic forced the industry and most of the people to adapt to new realities. Industries from every corner of the world were impacted by the pandemic, however, some stood strong to counter the mayhem, while a few closed down permanently. The Indian aluminium industry was also a part of this global fall down but it sustained competently. The primary aluminium production in India was not much impacted when compared to other metals and fell by just 2.9% during Apr-Dec FY21 as compared to Apr-Dec FY20. The domestic market demand stumbled, largely in Q1FY21 and Q2 due to the nationwide lockdown. Moreover, the export demand which grabs for around 50-55% of total...
Three-month LME aluminium increased 1.25% to end at US$2,586 per tonne on Tuesday. As of Tuesday August 10, LME aluminium cash (bid) price stands at US$ 2579 per tonne, LME official settlement price stands at US$ 2579 per tonne; 3-months bid price stands at US$ 2585 per tonne, 3-months offer price is US$ 2585 per tonne; Dec 22 bid price stands at US$ 2551 per tonne, and Dec 22 offer price stands at US$ 2551 per tonne. The LME aluminium opening stock stood at 1339100 tonnes. Live Warrants totalled 826875 tonnes and Cancelled Warrants were 512225 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 2565.36 per tonne. SHFE Aluminium Price Trend Benchmark aluminium price for SHFE increased to stand at US$ 3112 per tonne on Wednesday, 11 August, 2021. The most-traded SHFE...
On Wednesday, August 11, A00 aluminium ingot price in China has jumped by RMB 210 per tonne to stand above RMB 20,000 per tonne, following the two consecutive days of decline. According to the Shanghai Metals Market data, the price has come in at RMB 20,080 per tonne as of August 11, with average prices likely to range between RMB 20,060 per tonne and RMB 20,100 per tonne. The spot contract is expected to be traded at a premium price of RMB 70-30 per tonne. In Wuxi and Hangzhou, primary aluminium ingot price has surged by RMB 215 per tonne to RMB 20,080 per tonne and RMB 20,095 per tonne, respectively, followed by a hike of RMB 200 per tonne in Foshan to RMB 20,250 per tonne. In Gongyi and Linyi, A00 aluminium ingot price has increased by RMB 170 per tonne to RMB 19,970 per tonne and RMB...
In July 2021, China produced 3.28 million tonnes of aluminium, which stood 1.86 per cent higher month-on-month from 3.22 million tonnes and 5 per cent on year from 3.12 million tonnes. However, the average daily output edged lower on a month by 1 per cent to 106,000 tonnes in July. The output totalled 22.75 million tonnes from January to July, an increase of 7.65 per cent from 21.13 million tonnes during the same period last year. The dip in daily average output could be attributed to the power curtailment and flood in Henan that caused two local aluminium plants to reduce or suspend production. In early August, China’s operating aluminium capacity stood at 38.53 million tonnes a year of the existing capacity of 43.68 million tonnes per annum. According to SMM survey, aluminium liquid...
On Saturday, August 7, Guangxi Power Grid Corp sent a notice directing aluminium smelters in Guangxi region to reduce average electricity loads by more than 30 per cent by August 15. This move comes as a part of the effort to cut electricity usage during peak times, said consultancies AZ China and MySteel. This new power consumption restriction imposed on aluminium producers by southern China’s Guangxi region could temporarily shut down about half a million tonnes of annual smelting capacity, pointed out consultancies. The curbs may also exacerbate the tight aluminium supply in China, the world’s biggest producer and consumer of the metal. AZ China said about 415,500 tonnes of annual aluminium smelting capacity could be affected across six Guangxi producers. As of Monday, 85,000 tonnes...
SMM aluminium ingot price declined for the two days in a row. The price dropped by RMB 50 per tonne to RMB 19870 per tonne on Tuesday, August 10, from RMB 19890 per tonne on August 9. The price is expected to move within a range of RMB 19850-19890 per tonne today. In Foshan and Wuxi, the price reduced by RMB 30 per tonne and RMB 35 per tonne to stand at RMB 20050 per tonne and RMB 19865 per tonne on Tuesday, August 10. Aluminium prices in Hangzhou and Chongqing stood at RMB 19880 per tonne and 19915 per tonne, a decrease of RMB 30 per tonne and 35 per tonne. Aluminium ingot prices in Shenyang, Tianjin, Linyi, and Gongyi decreased to stand at RMB 19860 per tonne, RMB 19860 per tonne, RMB 19890 per tonne, and RMB 18800 per tonne on Tuesday, August 10. The Aluminium alloy (A356) inched down...
Three-month LME aluminium dropped 1.14 per cent to end at US$ 2,554 per tonne last night. LME aluminium cash (bid) price and LME official settlement price plunged by US$ 71.50 per tonne on Monday, August 9, to stand at US$ 2,547 per tonne, following an increase in the previous day from US$ 2,583.50 per tonne to US$ 2,618.50 per tonne. 3-months bid price and 3-months offer price decreased by US$ 68.50 per tonne to come in at US$ 2,553 per tonne. Dec 22 bid price and Dec 22 offer price hovered around US$ 2,517.50 per tonne, down by US$ 64 per tonne from the previous day. LME aluminium opening stock declined from 1353050 tonnes to 1345850 tonnes. Live Warrants stood at 826875 tonnes, while Cancelled Warrants totalled 518975 tonnes. LME aluminium 3-months Asian Reference Price settled at US$...
The Malaysian aluminium producer, PRESS Metal Aluminium Holdings Bhd’s Q2 2021 earnings are estimated to escalate 30%-40% to RM265-RM285 million, which is triggered by a higher London Metal Exchange (LME) spot average of $2,400 per tonne and enhanced smelting output. One of the most recognised banks of Malaysia, RHB Investment Bank Bhd stated amid the Full Movement Control Order in June, the impact was largely limited to the aluminium company’s downstream extrusion operations. Lester Siew, an RHB analyst, said: “We expect the first half of 2021 (1H21) core profit to rise 150% year-on-year (YoY) with 2Q21 forecast (2Q21F) earnings up 30%-40% quarter-on-quarter on stronger LME aluminium prices, alongside improved sales volumes as production picks up at its Samalaju Phase 3 smelter by 320...
Vedanta has increased its aluminium products price by more than 1%. With effect from Saturday, August 7 2021, the prices of some aluminium ingots have stood at INR 226,000-239,000 per tonne, an increase of INR 3,500 per tonne from INR 222,500-235,500- per tonne on August 5. The billets price stands at INR 234,000 per tonne on Saturday, August 7 2021, standing higher by 1.52% or INR 3,500 per tonne from INR 230,500 per tonne on August 5. The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The aluminium price stood at US$ 2618.5 per tonne on August 6, from US$ 2583.5 per tonne on August 5. Vedanta’s aluminium business typically accounts for one-third of the company’s consolidated sales. Vedanta has a stake in...
Hindalco Industries Limited has increased its aluminium ingot and aluminium product prices with effect from Saturday, August 7, in line with two consecutive hikes on August 5 & 6 from US$ 2,575.50 per tonne to US$ 2,618.50 per tonne. Hindalco’s aluminium ingot price has been raised by INR 3,500 per tonne to INR 225,500 per tonne, following two back-to-back cuts on August 4 and 5. With effect from August 7, Hindalco’s aluminium wire rod price has also seen an increase of INR 3,500 per tonne to INR 236,600 per tonne. On August 5, Hindalco was selling its aluminium wire rod at INR 233,100 per tonne. Hindalco’s aluminium billets price has come in at INR 232,600 per tonne compared to INR 229,100 per tonne on August 5. Hindalco links its aluminium ingot and aluminium product prices to the...
According to the latest report from the US Geological Survey, US domestic primary aluminium production stood at 75,000 tonnes in May 2021. The average daily output was 2,410 tonnes, unchanged from April 2021 and down 22% from May 2020. Total aluminium recovered from scrap was 257,000 tonnes in May 2021, down from April 2021. That marked a growth of 13% from revised amount in May 2020, but declined 10% from May 2019 Of this, 138,000 tonnes of aluminium was recovered from new scrap and 119,000 tonnes was recovered from old scrap. In March, the average U.S. spot market price of primary aluminium ingot was $1.37 per pound, 7% more than that in April 2021. Inventories of primary aluminium in LME-approved warehouses, including off-warrant inventories, in the United States stood at 121,200...
