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 closed 2.99 per cent higher at US$ 2,596.50 per tonne on Thursday, with open interest increasing 1,850 lots to 670,000 lots, and is expected to trade between US$ 2,550-2,600 per tonne today. LME aluminium cash (bid) price and LME official settlement price jumped by US$ 40.50 per tonne or 1.61 per cent to stand at US$ 2,556.50 per tonne on Thursday, July 29. 3-months bid price and 3-months offer price increased from US$ 2,504 per tonne to US$ 2,545.50 per tonne. Dec 22 bid price and Dec 22 offer price surged by USS$ 31 per tonne to US$ 2,511 per tonne. LME aluminium opening stock declined from 1401500 tonnes to 1395225 tonnes. Live Warrants still remained restrained at 831825 tonnes, while Cancelled Warrants totalled 563400 tonnes. LME aluminium 3-months Asian...
A00 aluminium ingot price in China has extended its growth by RMB 350 per tonne to end the week on Friday, July 30, at RMB 19,850 per tonne, found the Shanghai Metals Market. The average prices are expected to range between RMB 19,830 per tonne and RMB 19,870 per tonne, with spot contract to be traded at a premium price of RMB 60-20 per tonne. Gongyi, Foshan, and Hangzhou have also witnessed a hike of RMB 350 per tonne to RMB 19,730 per tonne, RMB 19,950 per tonne, and RMB 19,865 per tonne, respectively. In Wuxi, primary aluminium ingot price has surged by RMB 345 per tonne to RMB 19,860 per tonne, while the price in Linyi and Chongqing has climbed by RMB 330 per tonne and RMB 325 per tonne to stand at RMB 19,800 per tonne and RMB 19,835 per tonne. In Shenyang and Tianjin, A00 aluminium...
According to the Shanghai Metals Market, China’s social inventories of primary aluminium have continued to fall for the fourth week in a row, ending on Thursday, July 29. Extending the downfall by 51,000 tonnes week-on-week across eight consumption areas, including SHFE warrants, the inventories have come in at 758,000 tonnes. Last week, on July 22, China’s primary aluminium inventories stood at 809,000 tonnes, declining by 23,000 tonnes from the previous week. The chart below indicates the current status of primary aluminium inventories across China in more details: Among all the major Chinese cities, Wuxi has seen the sharpest decline of 24,000 tonnes to 256,000 tonnes as of July 29, followed by the downfall of 12,000 tonnes in Nanhai to 200,000 tonnes and 10,000 tonnes in Gongyi to...
Three-month LME aluminium closed 1.45 per cent higher at US$ 2,521 per tonne on Wednesday, with open interest decreasing 943 lots to 668,000 lots, and is expected to trade between US$ 2,500-2,550 per tonne today. LME aluminium cash (bid) price and LME official settlement price again exceeded US$ 2,500 per tonne mark to stand at US$ 2,516 per tonne by gaining US$ 18.50 per tonne on Wednesday, July 28. However, 3-months bid price and 3-months offer price rose by US$ 12 per tonne to come in at US$ 2,504 per tonne. Dec 22 bid price and Dec 22 offer price increased from US$ 2,466.50 per tonne to US$ 2,480 per tonne. LME aluminium opening stock continued to decrease from 1408000 tonnes to 1401500 tonne. Live Warrants remained restrained at 831825 tonnes, while Cancelled Warrants totalled 569675...
On 27th July 2021, Emirates Global Aluminium observed the 40th anniversary of its Suggestion Scheme, which motivates employees to share their ideas for operational and technological improvements. As of yesterday, EGA employees have made over half a million suggestions for improvements, delivering cost-savings of some AED 416 million. The Suggestion Scheme of EGA is integral to the organisation’s culture of innovation and continuous improvement that has for decades been a foundation of its growth and success. In the summer of 1981, it was founded by then-Head of Industrial Engineering, Glyn Ashley, and a team of industrial engineers. However, the Suggestion Scheme today remains of the longest-running employee-engagement programmes of its kind in the world. The Suggestion Scheme accumulated...
Three-month LME aluminium closed 0.78 per cent lower at US$ 2,485 per tonne on Tuesday, with open interest increasing 3,728 lots to 669,000 lots, and is expected to trade between US$ 2,470-2,530 per tonne today. LME aluminium cash (bid) price and LME official settlement price inched down by US$ 2 per tonne to stand at US$ 2,497.50 per tonne on Tuesday, July 27, following five consecutive days of hike. However, 3-months bid price and 3-months offer price increased sharply by US$ 83.50 per tonne to come in at US$ 2,492 per tonne. On the other hand, Dec 22 bid price and Dec 22 offer price plunged from US$ 2,489 per tonne to US$ 2,466.50 per tonne. LME aluminium opening stock further decreased to 1408000 tonnes. Live Warrants totalled 831825 tonnes, while Cancelled Warrants closed at 576175...
Vedanta has planned to expand Bharat Aluminium Company’s smelter capacity by 414 kilo-tonnes per annum (KTPA). The expansion involves an investment of INR 6,611 crore over the next two years. ''Vedanta...has announced a major expansion at Bharat Aluminium Company's (Balco) smelter capacity, which will involve an investment of Rs 6,611 crore over the next 18-24 months,'' the company said in a statement. Bharat Aluminium Company (Balco) is a part of Vedanta Group company. Balco will now have total capacity to close to one million tonne. With this investment, the company’s value-added product portfolio will increase to 92 per cent. "Balco''s expansion is a important project for us. We hope to ramp up the smelter capacity over the next 18-24 months. After this expansion, Vedanta''s aluminium...
Rusal, the world's leading aluminium producer, has announced the operating results for the second quarter of 2021, mentioning that its aluminium production totalled 936,000 tonnes. That was up by 0.4 per cent quarter-on-quarter from 932,000 tonnes. Siberian smelters represented 93 per cent of Rusal’s total aluminium output in 2Q2021. In the first half of 2021, Rusal’s aluminium production stood at 1.868 million tonnes, up 0.1 per cent from 1.867 million tonnes a year ago. Bratsk aluminium smelter and Krasnoyarsk aluminium smelter produced 251,000 tonnes and 253,000 tonnes of aluminium, respectively, during 2Q2021. Aluminium sales in 2Q2021 amounted to 1.038 million tonnes- 7.9 per cent higher than 962,000 tonnes in 1Q2021. In the first half of the year, aluminium sales totalled 2 million...
The Greek industrial conglomerate Mytilineos SA owned Aluminium of Greece has committed to switching to green for all of its power requirements from renewable energy by 2030. In a bourse filing, the aluminium metal producer has inked a power supply agreement with Greek utility Public Power Corporation SA, or PPC said and pointed out that this will be the final such contract between the two companies. However, the deal will run from the beginning of July 2021 through the end of 2023. Evangelos G Mytilineos, Chairman and CEO of Mytilineos, said: “For us, after 2023, a new era begins for the historic factory of ‘Aluminum of Greece’, a green and sustainable era, spearheading with national climate goals and the European Green Deal. Mytilineos eyes to reduce outright carbon dioxide emissions of...
Rio Tinto has cut production at its BC Works aluminium smelter in Kitimat, Canada due to a strike initiated by the Unifor Local 2301 union after negotiations failed. The output will be slashed to 35 per cent of the smelter’s 432,000 tonnes annual capacity. Rio Tinto Aluminium managing director Atlantic Operations Samir Cairae said: “Reducing production will have a significant impact on the business and community, but we are committed to taking the necessary steps to operate safely with a reduced workforce. “We have made every effort to reach a mutually beneficial agreement through negotiating in good faith over the past seven weeks, including proposing an independent mediator which was rejected by Unifor Local 2301. “We will continue to look for longer term solutions with the union and...
SMM aluminium ingot price registered a drop after two days of hike. The price stood at RMB 19540 per tonne on Tuesday, July 27 2019, a decline of RMB 90 per tonne from RMB 19630 per tonne on July 26. The price is expected to move within a range of RMB 19520-19560 per tonne today. In Foshan and Wuxi, the price dropped by RMB 90 per tonne and RMB 80 per tonne to stand at RMB 19670 per tonne and RMB 19545 per tonne on Tuesday, July 27, 2021. Aluminium prices in Hangzhou and Chongqing came in at RMB 19550 per tonne each, down RMB 75 per tonne and 130 per tonne. Aluminium ingot prices in Shenyang, Tianjin, Linyi, and Gongyi decreased to stand at RMB 19490 per tonne, RMB 19530 per tonne, RMB 19500 per tonne, and RMB 19400 per tonne on Tuesday, July 27, 2021. The price of aluminium alloy...
Three-month LME aluminium closed 0.16 per cent lower at US$ 2,504 per tonne in the overnight trading yesterday, with open interest decreasing 1,056 lots to 665,000 lots, and is expected to trade between US$ 2,470-2,530 per tonne. LME aluminium cash (bid) price and LME official settlement price continued to grow for the fourth day in a row by US$ 7.50 per tonne to come in at US$ 2,499.50 per tonne on Monday, July 26. 3-months bid price and 3-months offer price climbed by US$ 4.50 per tonne to stand at US$ 2,408.50 per tonne. Dec 22 bid price and Dec 22 offer price grew from US$ 2,482.50 per tonne to US$ 2,489 per tonne. LME aluminium opening stock continued to decrease from 1423525 tonnes to 1416775 tonnes. Live Warrants totalled 845500 tonnes, while Cancelled Warrants closed at 571275...
Metal and mining magnate Anil Agarwal chaired Vedanta Limited reported consolidated net profit attributable to owners of the company at INR 4,224 crore in the June quarter, a growth of 309% from the same period of the previous year on the back of increased revenue. The Covid-19 first wave was the worst hit during the same phase last year, which rooted for the Y-o-Y jump in the bottom-line, in the March quarter, the Vedanta’s consolidated bottom-line was at INR 6,432 crore. Vedanta’s top line remained strong at INR 28,105 crore in the June quarter, a surge of 79% from the same period of the previous year. Consecutively, revenues were just a marginal up from INR 27,874 crore in the March quarter. Vedanta aluminium business contributed the largest at INR 10,263 crore to the total revenue...
A00 aluminium ingot price in China has opened the week on Monday, July 26, with a surge of RMB 300 per tonne to come in at RMB 19,630 per tonne. The average prices are expected to range between RMB 19,610 per tonne and RMB 19,650 per tonne, with spot contract to be traded at a premium price of RMB 60-20 per tonne. In Foshan, primary aluminium ingot price has soared by RMB 350 per tonne to stand at RMB 19,760 per tonne, followed by the hike of RMB 330 per tonne in Chongqing to total RMB 19,680 per tonne. In Hangzhou and Gongyi, the price has increased by RMB 295 per tonne and RMB 250 per tonne, respectively, to stand at RMB 19,625 per tonne and 19,480 per tonne. In Linyi and Shenyang, A00 aluminium ingot price has grown by RMB 290 per tonne RMB 270 per tonne to close at RMB 19,600 per...
Three-month LME aluminium rose 1.74% to close at US$2,508.5 per tonne in the overnight trading of last Friday. As of Friday July 23, LME aluminium cash (bid) price stands at US$ 2492per tonne, LME official settlement price stands at US$ 2492 per tonne; 3-months bid price stands at US$ 2504 per tonne, 3-months offer price is US$ 2504 per tonne; Dec 22 bid price stands at US$ 2482.50 per tonne, and Dec 22 offer price stands at US$ 2482.50 per tonne. The LME aluminium opening stock stood at 1423525 tonnes. Live Warrants totalled 852875 tonnes and Cancelled Warrants were 570650 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 2481.35 per tonne. SHFE Aluminium Price Trend Benchmark aluminium price for SHFE increased to stand at US$ 3025 per tonne on Monday, July 26,...
On 25th July 2021, Canada’s largest union in the private sector Unifor stated that about 900 workers had initiated strike action at metal giant Rio Tinto’s operations in the western Canadian province of British Columbia. On 21st July 2021, Unifor issued a 72-hour strike notice almost after seven weeks of pointless discussions over proposed changes to workers’ retirement benefits and unresolved grievances. Jerry Dias, Unifor National President, said: "This strike comes down to Rio Tinto's greed and lack of respect for our hard-working members at the Kitimat smelting facilities. Our union is fully prepared to defend our members' rights and protect good jobs in Kitimat now and in the future." Martin Mcllwrath, Unifor Local 2301 President, said; "Rio Tinto was given every opportunity to reach...
India’s largest aluminium producer, Vedanta has appointed the former CMD NALCO & currently Independent Director of BALCO, Dr Tapan Kumar Chand as Resident Director of Odisha & Chhattisgarh. Dr Chand, an alumnus of the University of Calcutta is renowned as a top mining & metal professional, who is carrying a successful track record of performance in the coal, steel & aluminium sectors. On 23rd July 2021, he has taken over the charge. The high-level appointment of Dr Chand comes at the heels, when Vedanta advancing to emerge as the second-largest producer of aluminium in the world with 3 million tonnes metal aluminium output & 6 million tonnes of alumina capacity. Currently, Vedanta is the largest producer of aluminium in India and with the demand for green metal likely to be twice in the...
Vedanta has raised its aluminium products price by more than 2%. With effect from Saturday, July 24 2021, the prices of some aluminium ingots have risen by INR 4,500 per tonne to stand at INR 216,750-229,750 per tonne, from INR 212,250-225,250- per tonne on July 20. The billets price stands at INR 224,750 per tonne on Saturday, July 24 2021. That marked an increase of INR 4,500 per tonne from INR 220,250 per tonne on July 20. 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$ 2449 per tonne on July 22, from US$ 2432 per tonne on July 21. Vedanta’s aluminium business typically accounts for one-third of the company’s consolidated sales. Vedanta has a stake in Bharat Aluminium...
