Saudi Arabia’s aluminium consumption could climb to as much as 1.8 million tonnes a year by 2030, as the Kingdom ramps up infrastructure and industrial development ahead of the 2034 FIFA World Cup. Ahmad Al-Alshaikh, executive vice president of Maaden’s Aluminum Business Unit, said demand is expected to reach at least 1.6 million tonnes annually by 2030, up from around 1 million tonnes currently. Consumption could potentially double over the next five to seven years, he said. Speaking on the sidelines of the Fastmarkets International Aluminium Conference in Budapest, Al-Alshaikh said construction of 15 new stadiums for the football tournament is helping to support aluminium demand, Reuters reported. Major exhibitions and preparations for the World Cup are also expected to contribute to...
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...
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Owing to the increased alumina and aluminium prices and increased output, Aluminium Corp. of China or Chalco's net profit in 2021 was bolstered by 564.6 per cent Y-o-Y to a 14-year high. In the 12 months ending Dec. 31, 2021, the world's largest alumina producer had a net profit of RMB 5.08 billion ($797 million), more than six times greater than the RMB 764.3 million in 2020. Every year, earnings per share increased 853 per cent to RMB 0.29 from RMB 0.03 but fell short of Visible Alpha's mean projection of RMB 0.32. Revenue increased 45 per cent year over year to RMB 269.75 billion, above the Visible Alpha consensus forecast of RMB 246.96 billion. According to Chalco, the company was able to source supply and alter output to limit the impact of power outages and the COVID-19 outbreak,...
A rift between the United States and the United Kingdom over aluminium and steel tariffs has finally come to an end as the former has agreed to lift the duties. On Tuesday, March 22, Anne-Marie Belinda Trevelyan, a British politician serving as Secretary of State for International Trade and President of the Board of Trade since 2021, officially said that both the countries reached a common term to remove the four-year-long aluminium and steel tariffs. To resolve the dispute, the United Kingdom has accepted a condition that Chinese-owned steel companies in Britain must undergo annual audits to ensure no cheap Chinese steel supply to the US tariff-free. Britain, to return the favour, has also agreed to withdraw retaliatory tariffs on US exports, including whiskey. 10 per cent tariff on...
LME aluminium opened at US$3,521 per tonne on Tuesday and closed at US$3,505 per tonne, a decrease of US$16.5 per tonne or 0.47 per cent. LME aluminium cash bid price rose to US$3,550 per tonne and LME aluminium official settlement price surged to US$3,550.50 per tonne, up by US$33 and US$32.50 per tonne respectively, comparing the records of Monday. We observe a rise of 0.93 per cent in the official settlement price and 0.94 per cent in the cash bid price for aluminium. 3-month bid price increased by US$26 per tonne to rest at US$3,550 per tonne and 3-month offer price had a raise of US$25.50 per tonne to rest at US$3,550. On the same day, December 23 bid price and December 23 offer price stood at US$3,325 per tonne and US$3,330 per tonne, showing no change. According to Wood Mackenzie,...
Total Aluminium production worldwide for the month of January 2022 has been 5.641 million tonnes with a decline the next month by 9.34 per cent, amounting to 5.114 million tonnes. African production of aluminium has been on a steep decline from January to February 2022 totalling to 139,000 tonnes and 123,000 tonnes respectively. Primary aluminium production is defined by the quantity of aluminium produced through electrolytic reduction of aluminium oxide in a given period of time. The IAI statistical report has been derived from the data provided by either IAI certified bodies or other noncertified but reliable sources. Though the data might be revised on being updated globally, but it is by far the best source of knowledge for seekers. If we calculate data pertaining to the first two...
China’s increased cases of Coronavirus had caused the A00 aluminium ingot price to slip by RMB 220 per tonne on Tuesday, March 22. However, on Wednesday, March 23, the price has soared up by RMB 150 per tonne to close at RMB 22,920 per tonne, found the Shanghai Metals Market. The average prices are estimated to orbit between RMB 22,900 per tonne and RMB 22,940 per tonne, with spot contract to be traded at a premium price of RMB 90-50 per tonne. The highest increase can be seen in Gongyi, where the price has escalated by RMB 180 per tonne to register at RMB 22,800 per tonne, followed by a surge of RMB 160 per tonne to close at RMB 22,950 per tonne. In Hangzhou and Chongqing, the price has escalated by RMB 150 per tonne to close at RMB 22,920 per tonne and RMB 22,840 per tonne. For the same...
On Tuesday, March 22, the Aluminium Stewardship Initiative reportedly welcomed Cameroonian Aluminium Company ALUCAM as a new Production and Transformation member. That brought the ASI’s total number of members to 215. ALUCAM is an industrial aluminium production company (Smelter) located in Edéa, a crossroads city between the Littoral, Center and South Cameroon. It started its operations in 1957 and, until now, has around 600 permanent employees to produce 100,000 tonnes of aluminium in a year. The company also relies on a large number of indirect jobs. Being a public capital company, the Government of Cameroon holds 93.3 per cent of shares of ALUCAM, while the rest are held by the French Development Agency (5.6 per cent) and the Cameroon National Investment Company (S.N.I). ALUCAM...
Alcoa Corporation global leader in bauxite, alumina and aluminium products announced the completion of its most waited project in Quebec, Canada, which is expected to enhance the stability, efficiency and output of the Deschambault aluminium smelter. The smelter has completed the installation of new electrical infrastructure, which was part of a $47 million capital investment to assist the plant enhance its operations. A third electrical transformer was installed as a part of the project to supply greater amperage to the smelting pots and boost metal output. In addition, the enhanced environmental equipment of the plant will allow it to retain environmental compliance when it expands aluminium output in the coming years. The Canadian government pledged a CA$10 million investment to the...
According to a report on Tuesday, March 22, India’s largest aluminium producer Vedanta Aluminium Business has recycled 14 billion litres of water as of January FY2022, following its own robust Water Management Policy. As part of the commitment to fulfil water sustainability goals, Vedanta strives to increase water reutilisation, reduce freshwater consumption, and ensure zero liquid discharge from operations. In addition, Vedanta Aluminium is working on the construction of water harvesting and conservation infrastructures for perennial water supply in the regions where it operates. Speaking about Vedanta Aluminium's approach to water stewardship, Rahul Sharma, CEO of Vedanta Aluminium Business, said: "Excellence in ESG (Environmental, Social and Governance) forms the bedrock upon which we...
According to the latest data shown by the International Aluminium Institute, world primary aluminium production in February 2022 recorded a downfall of 9.34 per cent month-on-month to stand at 5.114 million tonnes. In January, the output scored at 5.641 million tonnes, up by 1.95 per cent sequentially from 5.533 million tonnes. Also, on a year-on-year calculation, world primary aluminium production in February’22 stood lower by 2.33 per cent than 5.236 million tonnes. In two-month time of this year, production totalled 10.755 million tonnes, reflecting a fall of 2.28 per cent from 11.006 million tonnes during the same period last year. Daily average production of primary aluminium across the world came in at 182,600 tonnes in February 2022 as compared to 182,000 tonnes in January 2022 and...
LME aluminium opened at US$3,417 per tonne on Monday and closed at US$3,522 per tonne, an increase of US$134 per tonne or 3.96 per cent. On Monday, March 21, LME aluminium cash bid price and LME aluminium official settlement price opened the week at US$3,517 per tonne and US$3,518 per tonne, up by US$137.50 per tonne or 4.07 per cent from the previous day. 3-month bid price and 3-month offer price both increased by US$125 per tonne to rest at US$3,524 per tonne and US$3,525 per tonne respectively. On the same day, December 23 bid price and December 23 offer price stood at US$3,325 per tonne and US$3,330 per tonne, which also registered a hike of US$133 per tonne from US$3,192 per tonne and US$3,197 per tonne, respectively. Because of the on-going warlike dilemma, LME aluminium opening...
Yunnan is home to around 10% of China's aluminium production capacity. In May 2021, the province was plagued by drought as a result of the Yunnan government had adopted initiatives to minimise the electrical consumption of aluminium smelters in the province. However, as per the latest reports, Yunnan's electricity crisis has lessened since the beginning of 2022, since water availability has been greater than typical throughout the dry season. Yunnan Shenhuo Aluminium resumed 220,000 tonnes of aluminium capacity due to a better power supply. The remaining 150,000 tonnes of additional aluminium capacity was just placed into service by the corporation. By the end of April, a total of 900,000 tonnes of aluminium capacity is expected to be put into service. Yunnan Electricity Grid has restored...
China’s domestic primary aluminium ingot price has slipped on Tuesday, March 22, as rising cases of coronavirus have clouded the growth outlook for top metal consumers. But on the other hand, jitters over supply disruption as Russia-Ukraine peace discussions failed to ease conflict have capped the downfall of the price. According to the Shanghai Metals Market, A00 aluminium ingot price in China has decreased by RMB 220 per tonne on March 22 to stand at RMB 22,770 per tonne. The average prices are estimated to range between RMB 22,750 per tonne and RMB 22,790 per tonne, with spot contract to be traded at a premium price of RMB 90-50 per tonne. In Gongyi and Foshan, the primary aluminium ingot price has shrunk by RMB 230 per tonne to RMB 22,620 per tonne and RMB 22,790 per tonne, followed...
Owing to the sudden decision by Coal India to further restrict coal deliveries to the non-power sector via road and rake, with no prior warning, causing huge scarcity of coal rakes for industries now expanding to road-based deliveries. The Aluminium Association of India (AAI) has written to the Prime Minister’s Office, the Cabinet Secretary and the Coal Minister, requesting immediate assistance to stop the sector’s impending disruptions. The AAI has made a very clear request in its letter that immediate steps be taken to resume supply of coal for the highly power-intensive aluminium industry captive power plants (CPP) by assigning at least 25-30 coal rakes per day, as well as enhancing coal supplies via road mode for the sector's continued survival. The domestic coal crisis that had...
China Hongqiao Group Co., Ltd., the world's largest aluminium producer covering the entire value chain, has published its annual results for the year ended December 31, 2021, highlighting the revenue growth of 32.9 per cent (approx.) year-on-year to RMB 114,490,941,000. At the end of 2020, Hongqiao’s revenue stood at RMB 86,144,641,000 tonnes. In CY2021, the company derived RMB 84,312,993,000 of revenue from aluminium alloy products, accounting for approximately 73.7 per cent of the total. From aluminium fabrication and alumina, Hongqiao generated RMB 12,523,879,000 and RMB 16,966,928,000, accounting for 10.9 per cent and 14.8 per cent of the revenue. Gross profit earned by Hongqiao Group in 2021 was up by 57.3 per cent to RMB 30,453,096,000, of which aluminium alloy products accounted...
Aluminium Bahrain B.S.C. (Alba), the world’s largest aluminium producer outside China, bagged the prestigious International Safety Award – Merit by the British Safety Council for its consistent commitment to keeping the workforce safe and healthy during the calendar year of 2021. Since 1958, the International Safety Award is acknowledging and celebrating organisations efforts worldwide to keeping their workplace safe from injuries and work-related ill health. The award also recognises those organisations that show commitment to the wellbeing and mental health of the workforce. Alba’s Chief Executive Officer Ali Al Baqali said in a press release, “We are pleased to win again the prestigious International Safety Award by the British Safety Council as we stay on course to attain our...
According to the Shanghai Metals Market, A00 aluminium ingot price has opened the week on Monday with a surge of RMB 470 per tonne to settle at RMB 22,990 per tonne. The average prices are expected to hover between RMB 22,970 per tonne and RMB 23,010 per tonne, with spot contract to be traded at a premium price of RMB 80-40 per tonne. The price in Foshan and Chongqing has hiked by RMB 470 per tonne to close at RMB 23,020 per tonne and RMB 22,910 per tonne. For the same day in Wuxi and Hangzhou the price has grown by RMB 465 per tonne to peg at RMB 22,980 per tonne and RMB 22,990 per tonne. As per SMM, the A00 aluminium ingot price in Shenyang has augmented by RMB 410 per tonne to register at RMB 22,900 per tonne, followed by the increase of RMB 310 per tonne in Tianjin to score at RMB...
Three-month LME aluminium opened at US$3,380 per tonne last Friday and closed at US$3,388 per tonne, an increase of US$5 per tonne or 0.15 per cent. On Friday, March 18, LME aluminium cash bid price and LME aluminium official settlement price recovered by US$92 per tonne and US$92.50 per tonne to close the week at US$3,379.50 per tonne and US$3,380.50 per tonne. 3-month bid price and 3-month offer price increased by US$84 per tonne and US$83 per tonne, respectively, to come in at US$3,399 per tonne and US$3,400 per tonne. On the same day, December 23 bid price and December 23 offer price stood at US$3,192 per tonne and US$3,197 per tonne, which also registered a hike of US$82 per tonne from US$3,110 per tonne and US$3,115 per tonne, respectively. LME aluminium opening stock continued to...
This week continued to witness a downtrend in the global aluminium benchmark price, so much so that it stood month-on-month lower for a day. The LME aluminium price started the week at US$3,399 per tonne, reflecting a sharp downfall of US$73 per tonne from US$3,472 per tonne on March 11. The price further nosedived on March 15 by US$181.50 per tonne to come in at US$3,217.50 per tonne, month-on-month down by US$5.5 per tonne. The LME prices recorded incessant decline on the anticipation of stock release in the market. On March 13, Hydro confirmed 4000 tonnes of Russian aluminium to arrive at its Karmøy facility. On Wednesday, March 16, LME aluminium price rose for an intermittent period to US$3,306 per tonne but fell the next day to US$3,288 per tonne. To know more:...
