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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The primary aluminium industry has witnessed a rise in LME aluminium by $US$39.5 per tonne on 21 st April 2022 and closed at US$3,302.5 per tonne. The Indian aluminium major, Nalco increased its aluminium ingot price by INR2100/t on April 21to sell it at INR 282,650-286,150 per tonne. The picture remains quite clear for the global aluminium industry, as the demand for aluminium is ascending, while the supply seems to have a glitch. The geopolitical factors, the gas supply shortage and the rise in energy prices, supply disruptions putting a hold on raw materials and the return of Covid in China is driving the industry’s situation to complex. Aluminium is a heavily required commodity now due to its sustainable nature and the automotive, construction and packing sector are gradually shifting...
On 21 st April 2022, the High Court of Odisha directed the Indian Railways to allocate rakes for the carriage of coal to the Indian state-owned integrated aluminium company Nalco. According to a report it was stated that Nalco is countering the coal shortage challenge and Odisha Govt. will find a solution to resolve it. In an interim order, the High Court directed the East Coast Railways (ECoR) to take into consideration of four rakes allotments every day with the greatest importance to transport coal from Mahanadi Coalfields’ (MCL) Bharatpur mines to NALCO’s plant at Angul and if such a request is made by the aluminium producer. The Central PSU officer’s body, Nalco Officers’ Association has proceeded to the HC seeking endeavouring a direction since the smelter is facing a high dearth of...
Vedanta Limited cut its aluminium ingot and aluminium products prices, with effect from Thursday April 21, soon after it raised the prices on the previous day. With effect from April 21, the company reduced its aluminium ingot price by INR 5,500 per tonne or 1.90 per cent to INR 283,250-330,750 per tonne. On April 20, Vedanta’s aluminium ingot price hovered around INR 283,250-330,750 per tonne, seeing an increase of INR 6,500 per tonne. Vedanta’s aluminium wire rod price came in at INR 290,750-298,250 per tonne on April 21, down by INR 5,500 per tonne from INR 296,250-303,750 per tonne on April 20. Aluminium billet price saw no exception but a slash of INR 5,500 per tonne on April 21 to INR 291,250 per tonne. Vedanta Limited links its aluminium products and aluminium ingot prices to the...
The LME aluminium benchmark price resumed from the Easter Holiday on Tuesday, April 19, with a growth of 2 per cent. LME aluminium cash bid price and LME aluminium official settlement price grew by 2.25 per cent and 2.30 per cent on April 19 to settle at RMB 3,310 per tonne and RMB 3,312 per tonne, respectively, in comparison with the prices on Thursday, April 14. On Wednesday, April 20, the prices recorded a plunge of US$71 per tonne and US$72 per tonne to stand at US$3,239 per tonne and USS$3,240 per tonne, following which on Thursday, April 21, both LME aluminium cash bid price and LME aluminium official settlement price rose by US$22 per tonne to rest at US$3,261 per tonne and US$3,262 per tonne. On Friday, April 22, the prices slipped again to close the week at US$3,243.50 per tonne...
According to the Shanghai Metals Market, social inventories of primary aluminium in China continued to record week-on-week fall since the last drop of 3,000 tonnes on the previous Thursday, April 14. But compared to the prior week, the inventories fell extensively this Thursday by 42,000 tonnes across eight major Chinese consumption areas, including SHFE warrants, to come in at 1.02 million tonnes. Gongyi saw the highest downfall in inventories as it experienced normal arrivals and increased sales. Downstream producers became willing to stock up after the pandemic situation improved slightly, allowing inventories of aluminium ingots to continue to fall. The chart below indicates the current status of primary aluminium inventories across China in more details: So, as the chart suggests,...
National Aluminium Company Limited has revised its aluminium ingot and aluminium products prices since its last cut on April 12. With effect from Thursday, April 21, NALCO has increased its aluminium ingot price by INR 2,100 per tonne or 0.75 per cent to sell it at INR 282,650-286,150 per tonne. On April 12, the price was at INR 280,550- 284,050 per tonne after being sharply cut by INR 15,700 per tonne. NALCO’s aluminium wire rod price has also seen a raise of INR 2,100 per tonne to INR 285,150-289,500 per tonne as against INR 283,050- 287,400 per tonne on April 12. Aluminium billets price has come in at INR 286,100-288,750 per tonne, up by the same amount from INR 284,000- 286,650 per tonne. NALCO links its aluminium ingot and aluminium products prices to the three-month future price of...
Total aluminium production worldwide for the month of March 2022 has been 5.693 million tonnes with a rise of 10.35 per cent than 5.118 million tonnes in the previous month. African production of aluminium has been on steep upward rise from 123,000 tonnes in February 2022 to 136,000 tonnes in March 2022. Africa has increased aluminium production by 13,000 tonnes in March, bringing the total production to 398,000 tonnes in Q1 2022. That was an increase of 3.38 per cent from 385,000 tonnes in Q1 2021. But comparing the worldwide production of 1Q2021 and 1Q2022, we find the primary aluminium output was on a decline since collection in Q1 2021 amounted up to 16.786 million tonnes, whereas in Q1 2022, it was 16.459 million tonnes. Surprisingly enough keeping the exact time span in mind, for...
LME aluminium opened at US$3,269 per tonne on Thursday and closed at US$3,302.5 per tonne, an increase of US$39.5 per tonne or 1.21 per cent. On 21 st April, LME aluminium cash bid price stood at US$3,261 per tonne and LME aluminium official settlement price halted at US$3,262. The former recorded a hike of 0.68 per cent or US$22 per tonne and the latter too had the same amount or percentage rise. 3-month bid price stood at US$3,275 cruising upwards by 0.83 per cent or US$27 and 3-month offer price came in at US$3,276 per tonne rising by US$26 per tonne or 0.8 per cent. On the same day, December 23 bid price settled at US$3,125 per tonne and December 23 offer price at US$3,130 per tonne. The bid price went up by 0.97 per cent or US$30 per tonne, the official price too had the same amount...
According to the Shanghai Metals Market, China imported 39,400 tonnes of primary aluminium in March 2022, which reflected a sharp rise of 115 per cent month-on-month but a downfall of 55.1 per cent year-on-year. In contrast, China’s exports of primary aluminium grew year-on-year by 5571 per cent in March 2022 to 42,300 tonnes and increased by 60 per cent over a month. In the entire first quarter of 2022 ended March 31, primary aluminium imports totalled 96,600 tonnes, down by 71 per cent year-on-year, while exports amounted to 73,000 tonnes, up by 3017 per cent. As per SMM’s calculation, 44.8 per cent of primary aluminium was imported under general trade, while another 38.7 per cent was from cargoes under special customs supervision areas. China primarily imported from Russia, India, and...
AlCircle is pleased to announce the launch of the 4 th edition of its flagship e-Magazine, “Aluminium LeaderSpeak 2022.” It is an exclusive e-Magazine in which top industry professionals from the entire aluminium value chain have expressed their predictions for how the year will unfold for their companies and the industry. They've also shared their business plans and strategies for the entire year of 2022. While the year 2021 was all about coping with the loss suffered due to the pandemic, the year 2022 witnessed some unpleasant incidents. From the geopolitical crisis to the resurgence of COVID-19 cases in China, the metal industry has been greatly affected by the same, resulting in a series of prolonged after-effects like the aluminium can shortage, increased price of aluminium and...
On 19 th April 2022, the Odisha state government stated that it will endeavour a discussion with Mahanadi Coalfields Limited (MCL), one of the major coal-producing companies in India to solve the dry fuel crisis. Prafulla Kumar Mallik, the state’s minister for Steel and Mines said, “I will hold discussions with the authorities of Nalco and also the MCL and ensure that the aluminium major's production is not affected due to shortage of coal." The Indian state-owned integrated aluminium company, Nalco, whose authorities are close-mouthed over the crisis as both the mines and coal ministries are governed by one Indian Union Minister. However, several workers' unions of Nalco have awakened the trouble over the coal dearth at the Angul aluminium smelter. Concurrently, the worker's unions...
According to a recent report, Emirates Global Aluminium has agreed on supplying CelestiAL solar aluminium to Mercedes-Benz parts maker Hammerer Aluminium Industries (HAI). The news came after the former, the world’s biggest premium aluminium producer, entered into a formal agreement with Hammerer. Rob van Gils, Chief Executive Officer of Hammerer Aluminium Industries, said: “This partnership with EGA enables us to contribute to a better future and shows that aluminium has a key role to play in achieving the European Union’s Green Deal ambitions to decarbonise manufacturing. I am personally excited that many parts of the premium SUVs which are so popular in the UAE will be produced by HAI using EGA’s UAE-made CelestiAL solar aluminium. I look forward to driving these vehicles on the UAE’s...
Sales at Alcoa Corp. fell as a result of protracted supply chain interruptions, sparking concerns that the tie-ups will diminish consumer demand for aluminium. In the first quarter, the Pittsburgh-based aluminium maker reported sales of $3.29 billion, which fell short of the $3.44 billion. Due to a dearth of available railway cars and vessels, notably in North America, the corporation reported greater levels of inventory. Rising inflation, Russia's invasion of Ukraine, and China's recent recession may be causing uncertainty in the worldwide market for aluminium, which is used in everything from autos to construction to appliances. On a conference call with analysts on Wednesday, Chief Executive Roy Harvey said Russia's invasion of Ukraine has compounded the supply chain situation, making...
In March 2022, world primary aluminium production grew month-on-month by 11.23 per cent to rebound to 5.693 million tonnes, bringing the total output in the first quarter ended March 31, 2022, to 16.459 million tonnes. In February, the production stood at 5.118 million tonnes, seeing a decline of 9.38 per cent from 5.648 million tonnes in January. But despite the M-o-M hike in March 2022, world primary aluminium production in Q1 registered a quarter-on-quarter downfall of 1.07 per cent from 16.637 million tonnes to 16.459. Also, on a year-on-year calculation, the output in 1Q2022 saw a downfall of 1.95 per cent from 16.786 million tonnes. In China, the world’s leading primary aluminium producer, the output in March 2022 came in at 3.293 million tonnes, up by 11.63 per cent from 2.950...
LME aluminium opened at US$3,263 per tonne on Wednesday and closed at US$3,263 per tonne, an increase of US$11 per tonne or 0.34 per cent. On 20 th April, LME aluminium cash bid price stood at US$3,239 per tonne and LME aluminium official settlement price halted at US$3,240. The former recorded a fall of 2.14 per cent or US$71 per tonne and the latter decreased by US$72 per tonne or 2.17 per cent. 3-month bid price stood at US$3,248 facing a downswing of 2.31 per cent or US$77 and 3-month offer price came in at US$3,250 per tonne falling by US$76 per tonne or 2.28 per cent. On the same day, December 23 bid price settled at US$3,095 per tonne and December 23 offer price at US$3,100. The bid price witnessed a decline of 2.46 per cent or US$78 per tonne, the official price too had the same...
China’s A00 aluminium ingot price stopped at RMB 21,830 per tonne, after witnessing a rise of RMB 80 per tonne on Thursday, April 21, opines SMM. The average price is expected to hover between RMB 21,810 per tonne and RMB 21,850 per tonne, with spot contract to be traded at a premium price of RMB 80-40 per tonne. The price in Gongyi and Foshan has soared up by RMB 100 per tonne to settle at RMB 21,830 per tonne and RMB 21,960 per tonne. As of today, Wuxi and Shanghai witnessed a hike of RMB 280 per tonne to peg at RMB 21,745 per tonne and RMB 21,870 per tonne. In Chongqing and Shenyang the price has climbed up by RMB 80 per tonne and RMB 30 per tonne, to come in at RMB 21,860 per tonne and RMB 21,780 per tonne. In Linyi the price has moved up by RMB 70 per tonne to record at RMB 21,920...
Vedanta Limited has hiked its aluminium ingot and aluminium products prices on Tuesday, April 20, in response to the LME aluminium price growth. Vedanta has raised its aluminium ingot price by INR 6,500 per tonne or 2.30 per cent to INR 288,750-336,250 per tonne as against the increase of INR 1,250 per tonne to INR 282,250- 329,750 per tonne on April 15. Vedanta’s aluminium wire rod price has also been grown by INR 6,500 per tonne on April 20 from INR 289750- 297250 per tonne to INR 296,250-303,750 per tonne. Aluminium billet price has experienced no exception but a hike of the same amount to INR 296,750 per tonne. On April 15, Vedanta’s aluminium billet price came in at INR 290,250 per tonne, up by INR 1,250 per tonne from the previous day. Vedanta Limited links its aluminium products...
LME aluminium opened at US$3,295 per tonne on Tuesday and closed at US$3,252 per tonne, down US$47 per tonne or 1.42 per tonne. LME aluminium cash bid price stood at US$3,310 per tonne and LME aluminium official settlement price halted at US$3,312, gaining 2.25 per cent and 2.30 per cent respectively, if compared with the records of Thursday, last week. LME resumed on Tuesday after the Good Friday weekend. 3-month bid price of aluminium rose by US$60 per tonne or 1.84 per cent to rest at US$3,325 per tonne. 3-month offer price also faced the same percentage hike to settle at US$3,326 per tonne. According to Tuesday’s LME official price chart, December 23 bid price stood at US$3,173 per tonne and December 23 offer price at US$3,178, both witnessing an elevation of 1.37 per cent or US$43....
