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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Three-month LME aluminium dropped 0.12% to end at US$2,583.5 per tonne last Friday. As of Friday August 6, LME aluminium cash (bid) price stands at US$ 2618.50 per tonne, LME official settlement price stands at US$ 2618.50 per tonne; 3-months bid price stands at US$ 2621.50 per tonne, 3-months offer price is US$ 2621.50 per tonne; Dec 22 bid price stands at US$ 2581.50 per tonne, and Dec 22 offer price stands at US$ 2581.50 per tonne. The LME aluminium opening stock stood at 1353050 tonnes. Live Warrants totalled 835825 tonnes and Cancelled Warrants were 517225 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 2603.00 per tonne. SHFE Aluminium Price Trend Benchmark aluminium price for SHFE decreased to stand at US$ 3074 per tonne on Monday, 09 August, 2021. The...
National Aluminium Company Limited (NALCO) has reduced its aluminium ingot and aluminium product prices with effect from Friday, August 6, following a sharp hike in the previous week. NALCO’s aluminium ingot price is currently ranging between INR 221,850-225,350 per tonne, down by INR 3,400 per tonne from 225,250-228,750 on July 31. NALCO’s aluminium wire rod price has also seen a cut of INR 3,400 per tonne with effect from August 6 and has come in at INR 224,350-228,700 per tonne. On July 31, the price was at INR 227,750-232,100 per tonne. NALCO is now selling its aluminium billets at INR 225,300-227,950 per tonne in comparison with INR 227,750-232,100 per tonne on July 31. NALCO, like any other Indian aluminium producer, links its aluminium ingot and aluminium product prices to the...
Primary aluminium sector witnessed some major developments last week. The week saw some of the biggest aluminium producers- Hindalco, NALCO and Qatalum announcing their financial results. Let's explore: Vedanta Aluminium Business purchased 354 million units of solar and non-solar renewable energy primarily from Green Term-Ahead Market (GTAM) at IEX. The renewable energy will be used for its aluminium production unit at Jharsuguda, in Odisha. To know more: https://www.alcircle.com/news/vedanta-aluminium-procures-354-million-units-of-renewable-energy-becomes-indias-largest-green-power-purchaser-68996 Century Aluminum Industry has reported net sales of $528 million for the second quarter of 2021 ended on June 30, an increase of 19 per cent from $444 million driven by higher aluminum prices...
SMM aluminium ingot price performed lower, except Thursday and Friday. The week started with a decrease of RMB 30 per tonne to stand at RMB 19820 per tonne on Monday, 02 August. The price settled lower at RMB 19790 per tonne and RMB 19730 per tonne on Tuesday and Wednesday. But the week ended higher at RMB 19910 per tonne on Friday, 06 August, up RMB 170 per tonne from Thursday. The price is expected to move within a range of RMB 19890-19930 per tonne. According to the Shanghai Metals Market, China’s social inventories of primary aluminium have continued to fall on Thursday, August 5, albeit slower than the previous week. SMM found the inventories fell 26,000 tonnes week-on-week across China’s eight major consumption areas, including SHFE warrants, to come in at 732,000 tonnes. The...
On 6 th August 2021, the flagship metal arm of Aditya Birla Group, Hindalco Industries stated that the company has reported an all-time high consolidated Q1 net profit at INR 2,787 crore, as compared to a loss of INR 709 crore in Q1FY21. The company further said that the results were navigated by a strong performance by Novelis and India Business, supported by favourable macros, strategic product mix, and stability in operations. The metal giant’s total revenue from operations stood at INR 41,358 crore, up 64% as compared to INR 25,283 crore in the year-ago quarter. Hindalco said: “The consolidated EBITDA was an all-time high at INR 6,790 crore, up 188% YoY and 16% QoQ.” “Novelis Inc. and Aluminium India Business drive its highest-ever quarterly net profits. EBITDA for Aluminium India was...
National Aluminium Company Limited (NALCO) published results for the quarter ended June 2021. The company’s net profit increased by 981.97% to INR 347.48 crore in the June quarter. Net profit was INR 16.69 crore during the quarter ended June 2020. The company reported income of INR 2506.29 crore in the quarter ended June 2021. That was up by 77.26% from INR 1413.92 crore during the quarter ended June 2020, Nalco said in a regulatory filing. NALCO is a Navratna CPSE under Ministry of Mines. The company had posted an impressive net turnover and net profit of INR 8,869.29 crore and INR 1,299.56 crore respectively in FY20-21. NALCO is one of the largest integrated Bauxite-Alumina-Aluminium- Power Complex in the Country. The Company has a 68.25 lakh TPA Bauxite Mine & 21.00 lakh TPA (normative...
Vedanta Aluminium Business has won three Gold Awards at the SEEM National Energy Management Awards (SNEMA) 2020 for excellence in energy management at its Aluminium Smelters I & II and 1215MW Captive Power Plant at Jharsuguda, Odisha. Vedanta’s 1215MW Captive Power Plant and 2400 MW Thermal Power Plant have also bagged awards at the Thermal Power Plant Operation & Maintenance Conference and Awards 2021 for overall operational excellence. Vedanta’s alumina refinery, aluminium smelters, and power plants are the forerunners in the realm of energy management, among Indian manufacturing sectors. Some of the few notable initiatives include: Vedanta emerged as India’s largest green power purchaser in Q1FY22, procuring 354 million units of solar and non-solar renewable energy for its aluminium...
Aluminium Stewardship Initiative has reportedly certified Ma’aden Aluminium against the Performance and Chain of Custody Standard Certification for its vertically integrated aluminium facilities. The news came after ASI announced that it successfully certified the Middle East-based company for its bauxite mining at the Al Ba’itha mine in Qassim Province, alumina refining and smelting, aluminium remelting, and casting and rolling operations at Ras Al Khair Industrial City. The industrial facility also includes recycling operations for used beverage cans. Ma’aden’s smelter has an annual production capacity of 780,000 tonnes of aluminium, its rolling facility can produce 460,000 tonnes of can sheet, and end and tab stock for beverage cans and auto body sheet, and its remelting operations are...
On 5 th August 2021, the Brazilian Aluminium Association, ABAL has appointed Janaina Donas as Executive President for the first time, while the role was previously held by Milton Rego after a seven-month recruitment process. Abal stated that most recently Donas acted as an External Relations and New Business Director for Latin America in Peru and the United States for US-based gold-copper-silver producer Newmont Corporation for almost three years. However, before this role, she was working with the American Industrial Corporation, Alcoa as Director of Government Affairs from 2012 to 2018. Janaina graduated in International Relations and has a qualified MBA with extensive corporate experience. She began her career as a political consultant, working for national and multinational companies...
Three-month LME aluminium closed 0.94 per cent higher to stand at US$ 2,586.50 per tonne on Thursday, August 5. LME aluminium cash (bid) price and LME official settlement price rose by US$ 8 per tonne to stand at US$ 2,583.50 per tonne on Thursday, August 5. 3-months bid price and 3-months offer price grew from US$ 2,508.50 per tonne to US$ 2,589 per tonne. Dec 22 bid price and Dec 22 offer price hovered around US$ 2,563.50 per tonne, up by US$ 10.50 per tonne from the previous day. LME aluminium opening stock declined from 1363475 tonnes to 1355600 tonnes. Live Warrants stood at 830825 tonnes, while Cancelled Warrants stood at 524775 tonnes. LME aluminium 3-months Asian Reference Price settled at US$ 2,575.93 per tonne as of August 5. SHFE Aluminium Price Trend Benchmark aluminium price...
On 5 th August 2021, Qatar Aluminum Manufacturing Company, a 50% joint venture partner in Qatar Aluminum Company (Qatalum), reported a net profit of QR 288 million for H1 2021, with earnings per share (EPS) of QR 0.052. Abdulrahman Ahmad Al-Shaibi, Chairman of the Board of Directors, QAMCO while commenting on the financial and operational performance for H1 2021 said: “We benefitted from a strong sequential macroeconomic recovery coupled with supply constraints, which translated into healthier demand for our premium products, resulting in an improved set of financial results, since QAMCO’s incorporation. While macro-conditions remained buoyant, we continued to rely on our core business values, the flexibility of operations, supported by efficient supply chain and persistent cost...
The global leading aluminium giant, RUSAL, has been listed among the top 100 Best Emerging Market performers ranking by a global leader in ESG assessments, data, research, benchmarks and analytics, V.E (Vigeo Eiris) based on its sustainability credentials. The companies incorporated in the index span multiple industries, from Building Materials to Telecommunications to Mining & Metals, and have attained the highest sustainability scores across six key areas of corporate environmental, social and governance responsibility, namely: Environment, Human Rights, Human Resources, Community Involvement, Business Behaviour and Corporate Governance. Rusal is the largest low carbon aluminium producer to be listed in the ranking, however, 843 companies from 36 sectors and 31 countries were analysed,...
According to the Shanghai Metals Market, China’s social inventories of primary aluminium have continued to fall on Thursday, August 5, albeit slower than the previous week. SMM found the inventories fell 26,000 tonnes week-on-week across China’s eight major consumption areas, including SHFE warrants, to come in at 732,000 tonnes. Last week, on July 29, primary aluminium inventories stood at 758,000 tonnes, declining by 51,000 tonnes from the previous week. The chart below indicates the current status of primary aluminium inventories across China in more details: In Gongyi, primary aluminium inventories have seen the sharpest decline this week by 17,000 tonnes to 39,000 tonnes, while the inventories in Nanhai have decreased by 5,000 tonnes to come in at 195,000 tonnes as of August 5. In...
Vedanta Limited has continued to decrease its aluminium ingot and aluminium product prices for the second straight day by INR 2,000 per tonne. With effect from Thursday, August 5, Vedanta’s aluminium ingot price has been reduced to INR 222,500-235,500 per tonne from INR 224,500-237,500 per tonne a day ago. Vedanta’s aluminium billet price has also seen a cut of INR 2,000 per tonne or 0.86 per cent from INR 232,500 per tonne on August 4 to INR 230,500 per tonne as of August 5. The company’s aluminium wire rod price has come in at 230,000-237,500 per tonne with effect from August 5, after being cut by INR 2,000 per tonne from INR 232,000-239,500 per tonne. Vedanta limited links its aluminium ingot and aluminium product prices to the three-month futures of aluminium on the London Metal...
Century Aluminum Industry has reported net sales of $528 million for the second quarter of 2021 ended on June 30, an increase of 19 per cent from $444 million driven by higher aluminum prices and increased regional premiums. On Wednesday, August 4, the company unveiled its Q2 financial and operational results, wherein it also reported a net loss of $35.1 million compared to $140 million in Q1. That was an improvement of $104.9 million sequentially. Century stated its adjusted net loss at $27.3 million for 2Q2021, improved by $25.2 million sequentially. Adjusted EBITDA was $34.4 million, an increase of $54.1 million from the prior quarter primarily driven by higher prices of primary aluminum and increased regional premiums. Shipments in Q2 2021, however, decreased from 195,697 tonnes in Q1...
The Australian energy and emissions reduction minister, Angus Taylor has alerted that the European Union is attempting to implement a carbon tax on imports, which would be unfavourable to Australia’s export industry. The Energy Minister prompted against a ‘new wave’ of European protectionism that would seriously dent Australia’s export industry on which a huge portion of its economy depends. According to the Observatory of Economic Complexity (OEC), Australia attracts around $284 billion from its export products, while its service exports inflows around $75.6bn Taylor said: “At a time when liberal democracies are working together to rebuild confidence in the benefits of free and open trade, a new wave of protectionism now threatens to sweep across the world.” Lately, the European Union...
Three-month LME aluminium declined 1% to end at US$2,562.5 per tonne on Wednesday. As of Wednesday August 4, LME aluminium cash (bid) price stands at US$ 2575.50 per tonne, LME official settlement price stands at US$ 2575.50 per tonne; 3-months bid price stands at US$ 2580.50 per tonne, 3-months offer price is US$ 2580.50 per tonne; Dec 22 bid price stands at US$ 2553 per tonne, and Dec 22 offer price stands at US$ 2553 per tonne. The LME aluminium opening stock stood at 1363475 tonnes. Live Warrants totalled 830825 tonnes and Cancelled Warrants were 532650 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 2593.53 per tonne. SHFE Aluminium Price Trend Benchmark aluminium price for SHFE decreased to stand at US$ 3051 per tonne on Thursday, 05 August, 2021. The...
After decreasing for the past three consecutive days from RMB 19,850 per tonne to RMB 19,730 per tonne, A00 aluminium ingot price in China has inched up by RMB 10 per tonne on Thursday, August 5. According to SMM data, the primary aluminium ingot price is standing at RMB 19,740 per tonne, with average prices estimated to range between RMB 19,720 per tonne and RMB 19,760 per tonne and spot contract is likely to be traded at a premium price of RMB 60-20 per tonne. In Foshan and Linyi, A00 aluminium ingot price has increased by RMB 50 per tonne to settle at RMB 19,890 per tonne and RMB 19,780 per tonne, while the price in Chongqing has grown by RMB 35 per tonne to stand at RMB 19,770 per tonne. In Gongyi, Wuxi, Hangzhou and Tianjin, primary aluminium price has gained RMB 20 per tonne, and...
