According to SMM statistics, as of September 17, aluminium billet inventory in major domestic consumption areas recorded 152,500 tonnes, down 500 tonnes from last Thursday (September 10) and down 5,000 tonnes from this Monday (September 14). The persistent upward trend in inventory since mid-August has shifted slightly, turning into a modest pullback from highs. On a Y-o-Y basis, inventory was approximately 17,500 tonnes higher than the same period in 2025, about 31,000 tonnes higher than 2024, and roughly 61,000 tonnes higher than 2023, with total inventory still at the highest level for the same period over the past four years. From the perspective of warehouse withdrawals, aluminium billet withdrawals during September 7–September 14 recorded 38,900 tonnes, up 2,800 tonnes W-o-W, ending...
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...
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On 2 nd March 2022, the Indian stock market demonstrates the upward movement of the share prices of the Indian metal companies in a weak market, following the Russia Ukraine combat, which generated opportunities for the metal firms to boost their export, as imposed sanctions and intensifying ties with nations would hugely impact Russia’s overall trade. However, on 1 st March 2022, EN+ Group International PJSC stated its UC Rusal Ltd. subsidiary has been forced to temporarily halt alumina production at the Nikolaev alumina refinery due to the war in Ukraine. The Russian aluminium company commented that although UC Rusal's alumina production will be severely curtailed in the short term at this site due to the logistical and transport challenges stemming from the conflict. Although, Rusal...
According to Platts report, Alcoa’s chief financial officer Willian Oplinger shared his forecast that aluminum prices would continue to inflate while alumina supply to become tighter as a result of international sanctions imposed on Russia due to its military invasion of Ukraine. “It’s a very fluid situation … it will really depend on how long this drags out and how long the sanctions are in place,” CFO stated during a presentation at the Deutsche Bank Global ESG Conference on Monday, February 28. Market demand for aluminum is likely to remain unfulfilled in Europe and the US by the Russian aluminum producers, resulting in heightening pressure on the recent high level of premiums in both regions, pointed out Oplinger. Platts found out that spot price of 99.7% P1020 US aluminum was...
On 1 st March 2022, Switzerland headquartered Anglo-Swiss multinational commodity trading and mining company Glencore stated that it is evaluating all its business activities in Russia comprising equity stakes in aluminium and hydropower group giant En+ Group among other firms in different sectors. The world's largest globally diversified natural resource company, Glencore, which is also listed at London Stock Exchange (LSE) holds a 10.5% stake in En+ Group, the dominion shareholder of the Russian aluminium giant. Glencore also has a 0.57% stake in Rosneft. Glencore further added, “We have no operational footprint in Russia and our trading exposure is not material for Glencore.” However, a set of Western companies has been splitting strap with Russia following its stand-off with Ukraine,...
As the fear of metal supply disruptions has heightened across the world due to sanctions on Russia, A00 aluminium ingot price in China has increased by RMB 300 per tonne to stand at RMB 22,850 per tonne on Wednesday, March 2, found the Shanghai Metals Market. China’s domestic aluminium market has seen the surge today after two consecutive days of fall from RMB 22,820 per tonne to RMB 22,550 per tonne. The average prices are expected to range between RMB 22,830 per tonne and RMB 22,870 per tonne, with spot contract to be traded at a premium price of RMB 90-50 per tonne. A00 aluminium ingot price in Wuxi and Chongqing, has also built up by RMB 300 per tonne to come in at RMB 22,840 per tonne and RMB 22,750 per tonne, respectively, followed by the surge of RMB 295 per tonne in Hangzhou to...
LME aluminium opened at US$3,390 per tonne yesterday and closed at US$3,486 per tonne, an increase of US$91 per tonne or 2.68%. LME aluminium benchmark prices have been on a structural uptrend due to the Russia-Ukraine conflict. On Tuesday, March 1, LME aluminium cash bid price expanded by US$47 per tonne or 1.36% to close at US$3,495 per tonne. For the same day, LME aluminium official settlement price also levelled up by US$45.5 per tonne or 1.31% to score at US$3,495.50 per tonne. 3-month bid and 3-month offer price also grew by US$17 per tonne to settle at US$3,462 per tonne and US$3,464 per tonne. December 23 bid price and December 23 offer price closed at US$3,175 per tonne and US$3,180 per tonne. LME aluminium opening stock recorded at 814275 tonnes. Live warrants and Cancelled...
Hindalco Industries Limited has hiked its aluminium ingot and aluminium products prices, with effect from Tuesday, March 1, in response to LME aluminium benchmark price surge to a new high owing to more sanctions imposed on major producer Russia over the weekend, heightening supply disruptions. Hindalco has raised its aluminium ingot price by INR 8,500 per tonne to INR 297,000 per tonne as of March 1. On February 26, the price stood at INR 288,500 per tonne, seeing a sharp downfall of INR 13,250 per tonne from the previous day. Hindalco’s aluminium billets price has also seen a surge of INR 8,500 per tonne, with effect from March 1, to stand at INR 311,100 per tonne versus INR 302,600 per tonne on February 26. The company’s aluminium wire rod price also climbed INR 8,500 per tonne from...
Three-month LME aluminium opened at US$3,407 per tonne on Monday, February 28, and closed at US$3,395 per tonne, an increase of US$15 per tonne or 0.44 per cent. LME aluminium benchmark prices grew another record high after Western nations unveiled more sanctions on major producer Russia in response to its invasion of Ukraine. While LME aluminium cash bid price surged by US$93.5 per tonne or 2.79 per cent to US$3,448 per tonne, LME aluminium official settlement price increased by US$94.50 per tonne or 2.82 per cent to stand at US$3,450 per tonne on February 28. 3-month bid price and 3-month offer price soared by US$133 per tonne to come in at US$3,445 per tonne and US$3,447 per tonne. December 23 bid price and December 23 offer price also scored higher at US$3,133 per tonne and US$3,138...
The largest primary aluminium in the GCC region and the biggest non-oil industrial entity of UAE, Emirates Global Aluminium (EGA) booked a record whopping 1,140% rise in net profits for 2021 to $1.5 billion. The company earning depicts a bulls-eye of sharp turn following the disruptions rooted in the COVID-19 pandemic in 2020. The adjusted EBITDA more than doubled to AED 9.0 billion ($2.5 billion) for 2021, from AED 4.1 billion ($1.1 billion) for 2020. However, net profit was AED 5.5 billion ($1.5 billion), an increase of 1,140% compared to AED 445 million ($121 million) in 2020. EGA’s delivered the strongest-ever results and accredits it to the strong global market for aluminium as economies recovered from COVID-19, solid operational performance throughout the value chain, and a focus on...
LME aluminium opened at US$3,376 per tonne last Friday and closed at U$3,380 per tonne, an increase of US$15 per tonne or 0.45%. On Friday, February 25, LME aluminium cash bid price recorded a fall of US$163.5 or 4.64% to total at US$3,354.50 per tonne. For the same day, LME aluminium official settlement price also nosedived by US$163.5 or 4.64% to score at US$3,355.50 per tonne. 3-month bid price and 3-month offer price pegged at US$3,312 per tonne and US$3,314 per tonne. December 23 bid price and December 23 offer price came in at US$2,972 per tonne and US$2,977 per tonne. LME aluminium opening stock scored at 823125 tonnes. Live warrants and Cancelled warrants for the same day stood at 579875 tonnes and 243250 tonnes. LME aluminium 3-month Asian Reference Price recorded at US$3,358.28...
The global manufacturing industry encountered the deadly Covid pandemic with plenty of dents, the aluminium sector was also one of those challenges. However, India’s mining and metal giant, Vedanta's aluminium business, counter the pandemic well and was not heavily impacted. Now, it tends to focus on backward integration in the next fiscal and plans to functionalize two of its coal mines in Odisha to secure the supply of raw materials at its Captive Power Plants, as reported by a top-level executive of the company. Rahul Sharma, the CEO of Vedanta Aluminium said, “In the coming financial year, the company's 'focus would be on backward integration.” "Second is the raw material. We have some mines. We would like to operationalise one or two mines so that our raw material security becomes...
The Defence Secretary of the United Kingdom, Ben Wallace has stated his words very strongly following the ongoing Russia-Ukraine military conflict that the former Energy Minister Lord Barker must step down from his Chairmanship at the Russian aluminium and energy giant En+ Group and also must resign from the House of Lords. Lord Barker holds the post of executive chairman at En+ after the group’s major shareholder Russian industrial tycoon Oleg Deripaska stepped down in regards to sanctions-related matters. However, Lord Barker preserves his seat in the House of Lords while working full-time for the company. On 27 th February 2022, the Defence Secretary further added to his statement, “Lord Barker must sever ties with the Russian company and quit the House of Lords for good.” During the...
The global aluminium benchmark price rally to a record high this week has created a buzz across the industry. On Thursday, February 24, the LME aluminium price stood 13-year high at US$3,519 per tonne, attributable to Russia-Ukraine conflict that fuelled the worldwide supply concerns of the metal. However, on Friday, February 25, the price slipped by US$164 per tonne to stand at US$3,355 per tonne. To know more: https://www.alcircle.com/news/lme-aluminium-benchmark-price-rallies-to-13-year-high-this-week-before-closing-at-us3355-t-shfe-price-settles-at-us3607-t-76720 In response to this global aluminium price hike, National Aluminium Company Limited (NALCO) expanded its aluminium ingot and aluminium products prices by INR 20,000 per tonne or 7 per cent. With effect from Friday, February...
On 25 th February 2022, the Indian Captive Power Producers Association (ICPPA) stated that the ongoing Russia-Ukraine military strife, which has propelled the global energy prices to scale up, will diminish the proclivity to import coal by power plants and will further disrupt the supply of fuel to the captive power plants that support by supplying energy to industries like aluminium among others from state-owned Coal India. The CPP industries while finding themselves on the wrong side of abrupt changes in the policy implementation curtailing coal supplies, established an industry body in 2005, Indian Captive Power Producers Association (ICPPA). “Amid rising energy prices globally, electricity producers will pressure the government for domestic coal to fulfil their demand, which will...
The LME aluminium benchmark price rallied to a 13-year high this week, driven by the Ukraine-Russia conflict fuelling reduced metal supply concerns. After starting the week on Monday, February 21, at US$3,313 per tonne and US$3,315 per tonne, LME aluminium cash bid price and LME aluminium official settlement price rose by over US$100 per tonne to stand at US$3,419 per tonne and US$3,420 per tonne, respectively. But on the next day, the prices slipped to US$3,323 per tonne and US$3,323.50 per tonne, which rebounded on Thursday, February 24, to US$3,518 per tonne and US$3,519 per tonne, record high since 2008. However, on Friday, both LME aluminium cash bid price and LME aluminium official settlement price closed the week lower at US$3,354 per tonne and US$3,355 per tonne. 3-month bid price...
Team AlCircle is pleased to report that its third virtual event, “AlCircle Expo 2022,” held on February 15 and 16 had been a huge success. It was a virtual event aimed at bringing together aluminium industry professionals from throughout the value chain. Our goal was to provide a platform ideal for expanding business networks, acquiring new skills, and sharing success stories while travel was still a limitation. This year’s Expo witnessed a total of 1,082 attendee participation from 96 countries, which interacted and networked with 49 exhibitors and 10 sponsors. A total of 1,333 business cards were exchanged throughout the exhibition and 644 total business cards picked up from vendor booths. The average number of visitors per booth was 81 and the average time spent by a visitor was 2...
In January 2022, primary aluminium production in Africa stood at 139,000 tonnes, gaining only 1,000 tonnes month-on-month, found the International Aluminium Institute. In December 2021, primary aluminium production in Africa grew by 7,000 tonnes or 5.34 per cent on month from 131,000 tonnes. In three-month time (November 2021 to January 2022), Africa’s primary aluminium output totalled 408,000 tonnes, up by 3,000 tonnes from 405,000 tonnes in the earlier three months. On a year-on-year calculation, Africa’s primary aluminium production in January 2022 edged a hike of 6,000 tonnes or 4.51 per cent from 133,000 tonnes. In January 2022, the world primary aluminium production amounted to 5.513 million tonnes, down by 0.36 per cent from 5.533 million tonnes in December 2021 and 4.45 per cent...
On Thursday, February 24, Century Aluminum announced its fourth quarter and full-year 2021 results, revealing the net income of $60.4 million for Q4 versus $52.4 million a quarter ago. That was a quarterly increase of 15.27 per cent on higher shipments from 196,095 tonnes to 200,961 tonnes. Net sales increased by 13 per cent in Q4 from $581.4 million to $659.1 million sequentially. Fourth-quarter results were positively impacted by $43.9 million of exceptional items, in particular $53.8 million of unrealized gains on forward derivative contracts (net of tax), partially offset by $9.9 million in share-based compensation costs. Thus, Century reported adjusted net income of $17.2 million for the fourth quarter of 2021, up by 202 per cent sequentially. Adjusted EBITDA in Q4 was recorded at...
National Aluminium Company Limited has continued to increase its aluminium ingot and aluminium products prices for the third time in a row since February 9. With effect from Friday, February 25, NALCO’s aluminium ingot price has witnessed a surge of INR 20,000 per tonne or 7 per cent for the first time to come in at INR 300,450- 303,950 per tonne. This hike is in line with the rally of the LME aluminium benchmark price to a record high since 2008, following worries of reduced metal supplies from Russia fuelled by Ukraine-Russia conflict . On Thursday, February 24, the three-month LME aluminium future price soared by US$195.50 per tonne or 5.88 per cent to score at US$3,519 per tonne. Thus, on a month-on-month calculation, the price is up by US$474.50 per tonne from US$3,044.50 per tonne....
