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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LME aluminium opened at US$3,280 per tonne on Wednesday and closed at US$3,257 per tonne, down US$17 per tonne or 0.52 per cent. LME aluminium cash bid price stood at US$3,205 per tonne and LME aluminium official settlement price halted at US$3,207 loosing 0.28 per cent and 0.23 per cent respectively, if compared with the records of Tuesday. The 3-month bid price of aluminium also fell by US$6.50 per tonne or 0.20 per cent to rest at US$3,237.50 per tonne. 3-month offer price also faced the same percentage cut resting at US$3,238.50 per tonne. According to Wednesday’s LME official price chart, December 23 bid price stood at US$3,120 per tonne and December23 offer price at US$3,125, both witnessing a downward swing of 0.16 per cent or US$5. LME aluminium opening stock went high at the...
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China’s A00 aluminium ingot price has augmented by RMB 400 per tonne to peg at RMB 21,460 per tonne, opines SMM. The average price for the same is expected to orbit between RMB 21,440 per tonne and RMB 21,480 per tonne, with spot contract to be traded at a premium price of RMB 20-20 per tonne. The market will be watching closely to see how the continuing pandemic regulations affect supply and demand. Aluminium prices will remain under pressure if inventories continue to expand. As of today in Gongyi and Foshan, the price has surged by RMB 390 per tonne to come in at RMB 21,440 per tonne and RMB 21,500 per tonne. In Wuxi, Chongqing and Linyi the price has hiked by RMB 400 per tonne total at RMB 21,455 per tonne, RMB 21,500 per tonne and RMB 21,590 per tonne. For the same day in Hangzhou...
Vedanta Limited again chopped its aluminium ingot and aluminium products prices, with effect from Tuesday, April 12, following an increase on April 9. As per the revised prices revealed, Vedanta is selling its aluminium ingot at INR 281,000-328,500 per tonne, down by INR 13,000 per tonne or 4 per cent from INR 294,000- 341,500 per tonne on April 9. Vedanta’s aluminium wire rod price also experienced a sharp cut of INR 13,000 per tonne on April 12 from INR 301,500- 309,000 per tonne on April 9 to INR 288,500-296,000 per tonne. Aluminium billet price is now hovering around INR 289,000 per tonne since April 12, also down by INR 13,000 per tonne or 4 per cent from INR 302,000 per tonne. Vedanta Limited links its aluminium products and aluminium ingot prices to the three-month futures of...
The global green energy provider, Fortescue Future Industries claimed there won’t be a scarcity of electricity anymore since green hydrogen power generation in Southland will increase and ultimately the need to raise household bills won’t appear. FFI leads their customers by developing a portfolio of renewable energy and green hydrogen projects. There is a worldwide urge to move towards both renewable and sustainable resources after the Paris concord was drawn in 2015 which specifically aimed at climate change. There is a running belief now that Tiwai Point aluminium smelter (NZAS) may not stop operating in 2024, though after all the means adopted by the agency it will still need vast amounts of power from the Manapouri Hydro station. Tiwai Point is the only aluminium smelter in New...
LME aluminium opened at US$3,250 per tonne on Tuesday and closed at $3,274 per tonne, an increase of $22.5 per tonne or 0.69 percent. On Tuesday, April 12, LME aluminium cash bid price closed at US$3,214 per tonne and LME aluminium official settlement price halted at US$3,214.50 per tonne. The former witnessed a slump of US$19.5 per tonne or 0.60 percent and the latter dropped by US$20 per tonne or 0.61 percent. 3-month bid price and 3-month offer price also slipped by 0.15 percent or US$5 per tonne and 0.18 percent or US$6 per tonne to record at US$3,244 per tonne and US$3,245 per tonne. On the other, December 23 bid price hiked by US$15 per tonne or 0.48 percent to score at US$3,125 per tonne. For the same day, December 23 offer price also surged by US$15 per tonne or 0.16 percent to...
The first aluminium smelter in the Middle East region, Aluminium Bahrain B.S.C. (Alba), recorded 1.561 million tonnes of aluminium production in 2021 has selected EtaPRO LLC to enhance the thermal performance of its power stations. EtaPRO LLC is a company with 3 decades of experience in developing technologies and deploying solutions to deliver customized asset optimization strategies. The leading asset condition and performance monitoring system provider EtaPRO© will provide a plant performance digital dashboard and measure plant degradation by using digital Industry 4.0 and artificial intelligence (AI) to enhance Alba’s asset reliability. Alba’s Chief Executive Officer Ali Al Baqali commented while speaking on the occasion, “We believe that Digital Transformation is a discipline rather...
National Aluminium Company Limited has further slashed its aluminium ingot and aluminium products prices since its last cut on April 1, 2022. With effect from Tuesday, April 12, NALCO has chopped its aluminium ingot price by INR 15,700 per tonne or 5.30 per cent to INR 280,550- 284,050 per tonne as against INR 296,250- 299,750 on April 1. NALCO has also reduced its aluminium wire rod price by INR 15,700 per tonne, with effect from April 12, from INR 298,750- 303,100 per tonne to INR 283,050- 287,400 per tonne. Aluminium billets price has experienced no exception but a cut of INR 15,700 per tonne as well from INR 299,700- 301,200 per tonne to INR 284,000- 286,650 per tonne. NALCO links its aluminium ingot and aluminium products prices to the three-month future price of aluminium on the...
According to the Shanghai Metals Market, A00 aluminium ingot price in China has hiked by RMB 210 per tonne to stand above RMB 21,000 per tonne on Wednesday, April 13. SMM data has found that the price has come in at RMB 21,060 per tonne, with average prices likely to range between RMB 21,040 per tonne and RMB 21,080 per tonne. The spot contract is likely to be traded at a premium price of RMB 60-20 per tonne. In Foshan and Chongqing, A00 aluminium ingot price has surged by RMB 230 per tonne and RMB 225 per tonne, respectively, to RMB 21,734 per tonne and RMB 21,110 per tonne, while the price in Gongyi, Hangzhou, and Shenyang has increased by RMB 210 per tonne to stand at RMB 21,050 per tonne, RMB 21,130 per tonne, and RMB 21,110 per tonne. In Wuxi, Linyi, and Tianjin, primary aluminium...
The Australian primary aluminium producer, Tomago Aluminium has deployed on work a robot dog named ‘Spot’ with more advanced technology. The introduction of Spot in Tomago makes it Australia’s first aluminium smelter to trial the new AI technology, with impromptu demonstrations to showcase its unbelievable capabilities. The price of Spot comes around with a cost of US$200,000 each and weighs a little over 32 kilograms. This is one of the newest developments in the field of robotics which has unimaginable agility and can navigate all types of landscapes with extraordinary mobility, carrying out day to day inspections in the most inaccessible places. Michelle Whyte, the Business Improvement Superintendent, “Using Spot, previously hazardous tasks requiring specially-trained people in...
LME aluminium opened at US$3,361 per tonne on Monday and closed at US$3,251.5 per tonne, down US$120.5 per tonne or 3.57 per cent. LME aluminium cash bid price halted at US$3,233.50 per tonne and LME aluminium official settlement price stopped at US$3,234.50 per tonne, with a downfall of 4.7 per cent and 4.72 per cent respectively, if compared with the records of Friday, last week. The 3-month bid price of aluminium also decreased by US$172 per tonne or 5.02 per cent to rest at US$3,249 per tonne. On the other hand, 3-month offer price faced the same percentage cut resting at US$3,251 per tonne. From Monday’s LME official price chart, December 23 bid price stood at US$3,110 per tonne and December23 offer price at US$3,115, both witnessing a downward swing of 5.6 per cent or US$185. LME...
On Tuesday, April 12, China’s A00 aluminium ingot price nosedived by RMB 380 per tonne to record at RMB 20,850 per tonne. The average price for the same day is expected to orbit between RMB 20,830 per tonne and RMB 20,870 per tonne, with spot contract to be traded at a premium price of RMB 60-20 per tonne. In Gongyi and Foshan the price has plunged by RMB 370 per tonne and RMB 380 per tonne to come in at RMB 20,840 per tonne and RMB 20,880 per tonne. In Wuxi and Hangzhou the price has declined by RMB 580 per tonne and RMB 570 per tonne to stop at RMB 21,220 per tonne and RMB 21,305 per tonne. For the same day in Chongqing and Shenyang, the price has witnessed downfall by RMB 355 per tonne and RMB 330 per tonne to halt at RMB 20,875 per tonne and RMB 20,900 per tonne. In Tianjin and Linyi...
Hindalco Industries Limited hiked its aluminium ingot and aluminium products prices on Saturday, April 9, following a sharp cut on the previous day. The major Indian aluminium player increased its aluminium ingot price by INR 4,000 per tonne to INR 293,750 per tonne, with effect from April 9. On the previous day, the price was slashed by INR 7,250 per tonne to INR 289,750 per tonne. On April 9, Hindalco’s aluminium wire rod price also saw a rise of INR 4,000 per tonne from INR 300,850 per tonne to INR 304,850 per tonne. Aluminium billets price experienced no exception but also an increase of INR 4,000 per tonne on the same day. On April 9, Hindalco’s aluminium billets price stood at INR 307,850 per tonne versus INR 303,850 per tonne on April 8. Hindalco links its aluminium ingot and...
On February 19 2022, due to an internal power distribution breakdown, one of the four production lines of Hydro's part-owned main aluminium facility in Brazil, Albras, was shutdown. However, as of April 8 2022, the aluminium facility will be restarted. As a result of the breakdown, one potline, the Albras plant in Barcarena, Pará state, was working at 25% capacity. The plant's other three lines were untouched, and no one was hurt. In Q4 2022, the production line is projected to be fully operational. Albras' entire annual production capacity is 460,000 tonnes. Hydro controls 51 percent of Albras, while Nippon Amazon Aluminium Co. Ltd owns the remaining 49 percent.
Segregated from the power networks of any other country, Iceland in 2021 winter did face a unique problem of running out of electricity. The Icelanders who used to merely live on fishing for their livelihood were fortunate enough to witness the emergence of a large aluminium-smelting industry fifty years ago on their soil, which usually yields ample wealth for the entire community. 850 kms from the Scottish Coast, surrounded by the Atlantic Ocean, Iceland had always been self-sufficient when it came to electricity generation; in fact, the smelter played a huge role. Iceland could be fuelled by geothermal power and hydro generation since it is known as the land of glaciers located between two tectonic plates, highlands and also receives ample rainfall. It has even plotted to export...
According to the data shown by the Shanghai Metals Market, China produced 3.315 million tonnes of aluminium in March 2022, a decrease of 0.92 per cent year-on-year. Also, the daily average output stood 1,000 tonnes per day lower over the year to 106,900 tonnes but edged a hike of 1,700 tonnes per day month-on-month. From January to March 2022, China produced 9.465 million tonnes of aluminium in total, a drop of 2.8 per cent from the same period last year. China’s domestic aluminium production recommenced in March, along with many new capacities came into operation. In Yunnan and Guangxi, new and resumed aluminium capacity totalled 998,000 tonnes. With no production cuts in entire March, national aluminium production capacity reached 39.974 million tonnes as of early April. The effective...
Aluminium ingot production in Iran surged by 20 percent throughout the Iranian calendar year 1400, which ended on March 20, says the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO). IMIDRO is a large state-owned holding corporation operating in Iran's mining sector. According to IMIDRO statistics, yearly aluminium ingot output was 538,633 tonnes in 1400, 446,836 tonnes in 1399, and 278,318 tonnes in 1398. By the Iranian calendar year 1404 the country intends to produce 1.5 million tonnes of aluminium ingot annually (March 2025-March 2026). Apart from this, South Aluminum Corporation (SALCO) manufactured 173,594 tonnes of aluminium ingots, Almahdi Aluminum Company produced 150,738 tonnes, and Iran Alumina Company produced 37,243 tonnes. In the previous...
LME aluminium opened at US$3,392 per tonne last Friday and closed at US$3,372 per tonne, down US$28 per tonne or 0.82 per cent. Prices of commodities might be on the rise once again as East of Ukraine is still being vacated for this might just be the beginning of the end. LME aluminium cash bid price stood at US$3,393 per tonne and LME aluminium official settlement price halted at US$3,395, with a rise of 1.46 per cent or US$49 each, if compared with the records of Thursday. The 3-month bid price of aluminium also increased by US$49 per tonne or 1.45 per cent to rest at US$3,421 per tonne. On the other hand, 3-month offer price faced the same percentage rise resting at US$3,423 per tonne. From the LME official price chart of Friday, December 23 bid price stood at US$3,295 per tonne and...
A00 aluminium ingot price in China has further plunged over the weekend ended April 11, 2022, by RMB 570 per tonne to stand at RMB 21,230 per tonne, found the Shanghai Metals Market. The average prices are expected to range between RMB 21,210 per tonne and RMB 21,250 per tonne, with a spot contract to be traded at a premium price of RMB 70-30 per tonne. In Wuxi, A00 aluminium ingot price has nosedived by RMB 580 per tonne to come in at RMB 21,220 per tonne, followed by the decrease of RMB 570 per tonne in Foshan, Hangzhou and Linyi to RMB 21,260 per tonne, RMB 21,305 per tonne and RMB 21,350 per tonne, respectively. In Shenyang and Tianjin, primary aluminium ingot price has shrunk by RMB 520 per tonne to RMB 21,230 per tonne and RMB 21,330 per tonne, while the price in Gongyi has slumped...
