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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According to the Shanghai Metals Market, prebaked anode price in East China has soared by RMB 315 per tonne on June 1, 2021, to stand at RMB 4,712.50 per tonne. This marks an increase after almost a month of restraint at RMB 4,397.50 per tonne. The average prices are expected to range between RMB 4,225 per tonne and RMB 5,200 per tonne. In Central China, prebaked anode price has expanded by RMB 230 per tonne to come in at RMB 4,450 per tonne. The average prices are expected to range between RMB 4,300 per tonne and RMB 4,600 per tonne. Among the other primary aluminium input costs, Australian alumina FOB price has gained US$ 3 per tonne to stand at US$ 279 per tonne since the last growth of the same amount to US$ 276 per tonne on May 11, found SMM. Meanwhile, aluminium powder price has...
Iran's aluminium production stood at 42,480 tonnes during the first month of the current fiscal year (ended April 20).That was up by 36% from 31,280 tonnes in the corresponding period of last year, according to the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO). Iran’s flagship aluminium producer Iran Aluminum Company (IRALCO) produced the highest in the mentioned period. The company contributed 15,000 tonnes of the total output. Iran has an estimated aluminium nameplate capacity of 457,000 tonnes per year. The country now aims at increasing its annual aluminium output to more than 800,000 tonnes by March 2022 and to 1.5 million tonnes by 2025.
New Zealand’s only aluminium smelter, NZAS has a reported loss and a large write-down of its assets at a time when aluminium prices are recovering. Pacific Aluminium, a joint venture between the Anglo-Australian multinational Rio Tinto holding 79.36% stake in NZAS, and the Tokyo-based Sumitomo Chemical Company hold 20.64% has reported a net loss after tax of $100 million at the Tiwai Point smelter and an asset write-down of $223 million for the financial year ending December’20. Stew Hamilton, CEO, NZAS, said: “The result reflected the challenging market environment of 2020.” “In 2021 we have seen an improved aluminium market and in conjunction with the new electricity agreement for the smelter, announced in January 2021, this enables a sustainable extension of operations at Tiwai Point.”...
Three-month LME aluminium went up 0.78% to close at US$2,506 per tonne last Friday. SMM expects the contract to trade between US$2,480-2,540 per tonne today. As of Friday, May 28, LME aluminium cash (bid) price stands at US$ 2404.50 per tonne, LME official settlement price stands at US$ 2404.50 per tonne; 3-months bid price stands at US$ 2434 per tonne, 3-months offer price is US$ 2434 per tonne; Dec 22 bid price stands at US$ 2438 per tonne, and Dec 22 offer price stands at US$ 2438 per tonne. The LME aluminium opening stock stood at 1718300 tonnes. Live Warrants totalled 1127600 tonnes, and Cancelled Warrants were 590700 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 2460.66 per tonne. SHFE Aluminium Price Trend Benchmark aluminium price for SHFE increased to...
Primary aluminium market has witnessed a rise in LME aluminium benchmark price this week during May 24-28. The Chinese domestic aluminium ingot price has also seen a surge of RMB 480 per tonne through the week. Besides, the market has encountered hikes in Vedanta’s and Hindalco’s aluminium ingot prices and decrease in Nalco’s aluminium price. Let us now take a quick view to each of the events in the global primary aluminium market this week. LME aluminium cash (bid) price and LME official settlement price increased this week during May 24-28 by US$ 99.50 per tonne. The prices started the week nosedived by US$ 98 per tonne to US$ 2,305 per tonne on Monday but surged throughout the week to come in at US$ 2,404.50 per tonne. Benchmark aluminium price for SHFE gained US$ 119 per tonne through...
SMM aluminium ingot price started the week with a decrease of RMB 110 per tonne on Monday, 24 May 2021 to RMB 18,340 per tonne. The price increased on Tuesday and Wednesday to stand at RMB 18370 per tonne and RMB 18390 per tonne, up by RMB 30 per tonne and RMB 20 per tonne. The aluminium price closed the week higher at RMB 18820 per tonne on Friday, 28 May 2021, a jump of RMB 450 per tonne from Thursday. It is likely to trade between RMB 18800- 18840 per tonne. According to the Shanghai Metals Market, social inventories of primary aluminium have decreased by 58,000 tonnes or 5.69 per cent across eight major consumption areas in China, including SHFE warrants, to come in at 962,000 tonnes as of Thursday, May 27. The alumina price in China stood higher by RMB 18 per tonne to stand at RMB...
Hindalco Industries Limited has further raised its aluminium ingot and aluminium products prices for the second time in a row with effect from Friday, May 28. Hindalco’s aluminium ingot price has seen an increase of INR 3,500 per tonne or 1.77 per cent to come in at INR 201,000 per tonne. On May 26, the company’s aluminium ingot price was at INR 197,500 per tonne, climbing by INR 2,500 per tonne from the previous day. Hindalco is now selling its aluminium wire rod price at INR 212,100 per tonne with effect from May 28, also up by INR 3,500 per tonne from INR 208,600 per tonne on May 26. Hindalco’s aluminium billets price is now at INR 208,100 per tonne compared to INR 204,600 per tonne on May 26. Hindalco links its aluminium ingot and aluminium products prices to the three-month futures...
Three-month LME aluminium advanced 0.44 per cent to settle at US$ 2,390 per tonne on Monday but fell 0.19 per cent on Tuesday to close at US$ 2,385.50 per tonne. On Wednesday, the price rose 1.17 per cent to US$ 2,413.50 per tonne and closed higher on Thursday at US$ 2,486.50 per tonne. LME aluminium cash (bid) price and LME official settlement price increased this week during May 24-28 by US$ 99.50 per tonne. The prices started the week nosedived by US$ 98 per tonne to US$ 2,305 per tonne but rebounded through the week. On Tuesday, the prices grew to US$ 2,341 per tonne and further expanded to US$ 2,359.50 per tonne on Wednesday, May 26. On Thursday, May 27, both LME aluminium cash (bid) price and LME official settlement price extended their growth to come in at US$ 2,388 per tonne and...
Vedanta has continued to raise its aluminium products price by more than 1%. With effect from Friday, 28 May 2021, the prices of some aluminium ingots have inched up by INR 3,250 per tonne to stand at INR 200,500-213,500 per tonne from INR 197,250-210,250- per tonne on May 26. The company’s billets price stands at INR 208,500 per tonne on Friday, 28 May 2021, an increase of 1.58% or INR 3,250 per tonne from INR 205,250per tonne on May 26. The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The aluminium price on stood at US$ 2,388 per tonne on Thursday, May 27, an increase from US$ 2,359.5 per tonne on May 26. Vedanta’s aluminium business typically accounts for one-third of the company’s consolidated sales....
National Aluminium Company Limited (NALCO) has reduced its aluminium ingot and aluminium products prices for the third time with effect from Thursday, May 27. NALCO’s aluminium ingot price has come in at INR 196,350-199,850 per tonne after being reduced by INR 4,000 per tonne or 2 per cent from INR 200,350-203,850 per tonne on May 22. With the latest cut, NALCO’s aluminium wire rod price is ranging between INR 199,850-204,200 per tonne compared to INR 203,850-208,200 per tonne on May 22. NALCO’s aluminium billets price has also witnessed a cut of INR 4,000 per tonne from INR 203,800-206,450 per tonne to INR 199,800-202,450 per tonne. NALCO, like any other Indian aluminium producers, links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the...
A00 aluminium ingot price in China has surged by RMB 450 per tonne to come in at RMB 18,820 per tonne on Friday, May 28, found the Shanghai Metals Market. The average prices are expected to range between RMB 18,800 per tonne and RMB 18,840 per tonne, with spot contract to be traded at a premium price of RMB 10-30 per tonne, down by RMB 10 per tonne from the previous day. In Chongqing, primary aluminium ingot price has soared by RMB 455 per tonne to stand at RMB 18,845 per tonne, followed by the hike of RMB 450 per tonne in Gongyi and Foshan to RMB 18,810 per tonne and RMB 18,990 per tonne, respectively. In Shenyang and Tianjin, A00 aluminium ingot price has climbed by RMB 430 per tonne to peg at RMB 18,805 per tonne and RMB 18,800 per tonne, while the price in Wuxi and Hangzhou has...
Three-month LME aluminium rose 3.02% to close at US$2,486.5 per tonne on Thursday. SMM expects the contract to trade between US$2,460-2,500 per tonne today. As of Thursday, May 27, LME aluminium cash (bid) price stands at US$ 2388 per tonne, LME official settlement price stands at US$ 2388 per tonne; 3-months bid price stands at US$ 2421 per tonne, 3-months offer price is US$ 2421 per tonne; Dec 22 bid price stands at US$ 2432.50 per tonne, and Dec 22 offer price stands at US$ 2432.50 per tonne. The LME aluminium opening stock stood at 1724075 tonnes. Live Warrants totalled 1136900 tonnes, and Cancelled Warrants were 587175 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 2423.14 per tonne. SHFE Aluminium Price Trend Benchmark aluminium price for SHFE increased to...
Press Metal Aluminium Holdings Bhd reported that its net profit doubled in the first quarter of 2021, bolstered by record-high aluminium prices. The company expects the global economy to revive further to drive demand, keeping selling prices at elevated levels. In the first three months of the year ended on March 31, Press Metal’s net profit surged to RM205.7mil or 2.55 sen a share from RM102mil or 1.27 sen a share during the corresponding period year. <iframe width="500" height="320" src="https://www.youtube.com/embed/sHerVzYDOfY" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe> The company’s revenue rose to RM2.1bil from 1.8bil a year ago, as declared in a filing with...
Primary aluminium inventories have continued to decline to stand below 1 million tonnes. According to the Shanghai Metals Market, social inventories of primary aluminium have decreased by 58,000 tonnes or 5.69 per cent across eight major consumption areas in China, including SHFE warrants, to come in at 962,000 tonnes as of Thursday, May 27. Last week on May 20, primary aluminium inventories stood at 1.02 million tonnes, losing 41,000 stocks across China, showed SMM. The chart below indicates the current status of primary aluminium inventories across China in more details: Wuxi has seen the highest plunge in primary aluminium inventories today of 25,000 tonnes to come in at 386,000 tonnes, followed by the decrease of 24,000 tonnes in Gongyi to 75,000 tonnes. In Hangzhou and Nanhai,...
Three-month LME aluminium rose 1.17 per cent to close at US$ 2,413.5 per tonne on Wednesday, May 26. It is expected that the contract will run upwards and trade between US$ 2,380-2,480 per tonne today. LME aluminium cash (bid) price and LME official settlement price extended growth by US$ 18.50 per tonne or 0.80 per cent to settle at US$ 2,359.50 per tonne on Wednesday, May 26. 3-months bid price and 3-months offer price increased by US$ 20.50 per tonne to stand at US$ 2,393 per tonne. Dec 22 bid price and Dec 22 offer price came in at US$ 2,404 per tonne compared to US$ 2,384.50 per tonne on Tuesday, May 25. The LME aluminium opening stock continued to decline from 1733775 tonnes on May 25 to 1728375 tonnes on May 26. Live Warrants totalled 1144175 tonnes, while Cancelled Warrants stood...
Hydro REIN has teamed up with Equinor and RWE Renewables for offshore wind in Norway. The three companies have signed a collaboration deal to jointly prepare and submit an application to the Norwegian authorities to develop a large-scale bottom-fixed offshore wind farm in the Sørlige Nordsjø II area in the Norwegian North Sea. The Norwegian Ministry of Petroleum and Energy, which recently has opened two areas for offshore renewables (Utsira Nord and Sørlige Nordsjø II), is now working on the licensing process for offshore wind power projects in Norway. “The North Sea has among the world’s best wind resources. A large-scale offshore wind farm at Sørlige Nordsjø II could play a key role in expanding the North Sea as an offshore energy hub and create new industrial opportunities for Norway...
Vedanta has hiked its aluminium products price by more than 1%. With effect from Wednesday, 26 May 2021, the prices of some aluminium ingots have risen by INR 2,500 per tonne, standing at INR 210,250-197,250 per tonne from INR 207,750-194,750 per tonne on May 25. The company’s billets price stands at INR 205,250 per tonne on Wednesday, 26 May 2021, an increase of 1.23% INR 2,500 per tonne or 1.38% from INR 202,750 per tonne on May 25. The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The aluminium price on stood at US$ 2,341 per tonne on Tuesday, May 25, an increase from US$ 2,305 per tonne on May 24. Vedanta’s aluminium business typically accounts for one-third of the company’s consolidated sales....
Hindalco Industries Limited has increased its aluminium ingot and aluminium products prices with effect from May 26 after five consecutive cuts in last two weeks. Hindalco is now selling its aluminium ingot at INR 197,500 per tonne as the price has been raised by INR 2,500 per tonne or 1.28 per cent from INR 195,000 per tonne on May 25. Hindalco has also raised its aluminium products prices by INR 2,500 per tonne, bringing its aluminium wire rod price to INR 208,600 per tonne from INR 206,100 per tonne and aluminium billets price to INR 204,600 per tonne from INR 202,100 per tonne. Hindalco links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which on May 25 increased by US$ 36 per tonne to come in at US$ 2,341 per...
