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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The trusted source of commercial intelligence for the world's natural resources sector, Wood Mackenzie’s analysis has indicated that a long-term rise in price for copper is likely to counter serious contention from aluminium. The American multinational investment bank and financial services, Bank of America has asserted, if inventories dry up, copper could surpass $US20,000 ($25,856) per tonne by 2024. Julian Kettle, Senior Vice President and Vice-Chair for Metals and Mining, Wood Mackenzie, said: “If copper prices reach this level, demand for high volume applications that require electricity could see a surge in demand for aluminium, which is cheaper than the red metal.” Kettle added: “Too many forecasts ignore the fact that aluminium is a serious competitor to copper in a number of high...
Shanghai Metals Market found a week-on-week decline of 41,000 tonnes in primary aluminium ingot inventories to stand at 1.02 million tonnes as of Thursday, May 20. Stocks fell across eight major consumption areas in China except for Chongqing as the last two consecutive days of decrease in A00 aluminium ingot price has bolstered the purchase and consumption of primary aluminium. Last Thursday, on May 13, primary aluminium inventories stood at 1.06 million tonnes, shrinking by 54,000 tonnes from the previous week. The chart below indicates the current status of primary aluminium inventories across China in more details: Primary aluminium inventories in Nanhai have seen the highest plunge of 18,000 tonnes to come in at 242,000 tonnes on May 20, found SMM. Inventories in Gongyi have shrunk...
Vedanta Limited has increased its aluminium ingot and aluminium products prices by INR 1,500 per tonne with effect from Wednesday, May 19, following two consecutive cuts last week on May 13 & 15. Vedanta’s aluminium ingot price has come in at INR 208,000-221,000 per tonne compared to INR 206,500-219,500 per tonne on May 15. Vedanta’s aluminium wire rod and billets prices are standing at INR 215,500-223,000 per tonne and INR 216,000 per tonne, respectively, since the latest increase on May 19. Vedanta links its aluminium products and aluminium ingot prices to the three-month futures of aluminium on the London Metal Exchange, which after the last week declined by US$ 52.50 per tonne to come in at US$ 2,402.50 per tonne as of May 19. However, on a month-on-month calculation, the price is...
A00 aluminium ingot price in China has recorded a sharp fall of RMB 440 per tonne on Thursday, May 20, to come in at RMB 19,110 per tonne, found the Shanghai Metals Market. The average prices are expected to range between RMB 19,090 per tonne and RMB 19,130 per tonne, with spot contract to be traded at a premium price of RMB 10-30 per tonne. Among the major Chinese cities, Wuxi has seen the highest plunge in A00 aluminium ingot price by RMB 435 per tonne to RMB 19,115 per tonne on May 20. In Hangzhou and Gongyi, A00 aluminium ingot price has decreased by RMB 420 per tonne to RMB 19,020 per tonne and RMB 19,140 per tonne, while the price in Tianjin has declined by RMB 410 per tonne to RMB 19,120 per tonne. Chongqing has seen a plunge of RMB 385 per tonne to RMB 19,140 per tonne, while the...
Three-month LME aluminium fell 1.48 per cent to close at US$ 2,429.50 per tonne on Wednesday, May 19. It is expected that the contract will trade between US $2,350-2,450 per tonne today. LME aluminium cash (bid) price and LME official settlement price plunged by US$ 65.50 per tonne after the last three consecutive days of hike to settle at US$ 2,402.50 per tonne on Wednesday, May 19. 3-months bid price and 3-months offer price decreased by US$ 66 per tonne to come in at US$ 2,432.50 per tonne. Dec 22 bid price and Dec 22 offer price stood at US$ 2,427.59 per tonne on Wednesday compared to US$ 2,486 per tonne on Tuesday, May 18. The LME aluminium opening stock continued to decline from 1765525 tonnes on May 18 to 1759675 tonnes on May 19. Live Warrants totalled 1220825 tonnes, while...
RUSAL is moving ahead for a demerger of its higher carbon assets to unlock value through the creation of two businesses with separate strategies. The Board of Directors has granted approval to a proposal from management, which is in line with the Company’s ambitious environmental goals and strategy to achieve carbon neutrality by 2050. The proposed transformation would consequence in two companies focusing on the execution of their own independent strategies to drive value for stakeholders: RUSAL would focus to strengthen its position as a leading producer of low-carbon aluminium, while the new company would concentrate on the development of the domestic market and its growth potential. RUSAL has taken another vital step towards reaffirming its intent on remaining the largest producer of...
Century Aluminum Company has reportedly elected two new officers – John Dezee as Executive Vice President, General Counsel and Secretary and Matt Aboud as Senior Vice President, Strategy and Business Development. Both the officers will assume new roles on an immediate basis. Mr Dezee joined Century Aluminum in 2008 as an Associate General Counsel and took on new roles of increasing responsibilities ever since then. He came with his B.A. degree from Whitman College and J.D. from the University of California at Berkeley. Mr Dezee will assume his new roles of General Counsel and Secretary from Jesse Gary, the present Chief Operating Officer of Century. Michael Bless, Century’s President and Chief Executive Officer, commented: "Our Board and I are delighted to announce John's promotion to...
The New Zealand Aluminium Smelter at Tiwai Point is confident in its environmental record after releasing 25 years of monitoring reports on Tuesday, May 18, to prove its commitment toward transparency and collaboration. The company has confirmed that it expects to release the contamination of soil and groundwater report by mid of this year. Last month, the New Zealand Aluminium Smelter issued the reports on key environmental issues at Tiwai smelter ahead of its closure scheduled in 2024, along with a sampling plan with details of the areas determined where extra testing as part of a close study should be conducted. The reports last month also showed how sea water started creeping into an area where NZAS stored a highly toxic substance. The smelter in a press release said, "Based on the...
SMM aluminium ingot price registered a decline of RMB 310 per tonne on Wednesday, 19 May 2021. The price stood at RMB 19550 per tonne, from RMB 19860 per tonne on May 18. The price is expected to move within a range of RMB 19530-19570 per tonne today. In Foshan and Wuxi, the price dropped by RMB 280 per tonne and RMB 300 per tonne to stand at RMB 19620 per tonne and RMB 19550 per tonne on Wednesday, 19 May 2021.Aluminium prices in Hangzhou and Chongqing stood at RMB 19560 per tonne and 19525 per tonne, up RMB 315 per tonne and RMB 295 per tonne. Aluminium ingot prices in Shenyang, Tianjin, Linyi, and Gongyi decreased to stand at RMB 19535 per tonne, RMB 19530 per tonne, RMB 19580 per tonne, and RMB 19440 per tonne. The aluminium alloy (ADC12) price decreased by RMB 100 per tonne to RMB...
The Government of Scotland has not discarded to take over an aluminium smelter and a steelworks into public ownership if the situation demands to safeguard the jobs. Fiona Hyslop, Cabinet Secretary for Economy, Fair Work and Culture, said: “The current plans were not to take over the Lochaber aluminium smelter and the Dalzell steelworks – both of which are owned by the GFG Alliance.” As GFG Alliance is looking to refinance, she pledged: “Ministers would look at all options as required.” The Cabinet Secretary’s comments came following Labour MSP Monica Lennon said: “The outlook for the sites was increasingly worrying, as at least 340 jobs at risk.” Monica Lennon pressurized Hyslop on the situation for contingency plans the Scottish Government had, should GFG fail to refinance. Sanjeev...
Three-month LME aluminium fell 1.22 per cent to close at US$ 2,466 per tonne on Tuesday, May 18. As the US dollar index continued to weaken in the near term, it is expected that LME aluminium will try to continue to repair the recent decline today. It is expected to trade between US$ 2,450-2,550 per tonne today. LME aluminium cash (bid) price and LME official settlement price grew for the third day in a row by US$ 13 per tonne or 0.53 per cent to come in at US$ 2,468 per tonne on Tuesday, May 18. 3-months bid price and 3-months offer price increased by US$ 19.50 per tonne from US$ 2,479 per tonne to US$ 2,498.50 per tonne. Dec 22 bid price and Dec 22 offer price stood at US$ 2,486 per tonne on Tuesday compared to US$ 2,464.50 per tonne on Monday, May 17. The LME aluminium opening stock...
Century Aluminum announced on Monday, May 17, that Mike Bless would retire as President and Chief Executive Officer and also step down from the board on July 1, 2021. He served Century Aluminum for 15 years, including nearly 10 years as CEO. Mr. Bless will now continue to provide his guidance and expertise to Century as a strategic advisor until his ultimate retirement from the company on March 31, 2022. The company also announced the appointment of Jesse Gary, currently Century’s Executive Vice President, Chief Operating Officer and General Counsel, as a successor of Mr. Bless, with effect from July 1. Mr. Gary will also join the Board upon assuming his new role. “This leadership transition comes at the right time for Century, with Mike having established a strong foundation for...
South32 targets 50 per cent cut in its Scope 1 and 2 operational emissions by 2035, after announcing the sale of its South African thermal coal assets with mining group Seriti Resources. “We are sustainably reshaping our business for a low carbon future by increasing our exposure to base metals. We have set a new medium-term target to halve our operational emissions by 2035 and are investing in efficiency projects, applying low carbon design principles and evaluating carbon reduction technologies to achieve this goal,” said CEO Graham Kerr. South32 expects to register a loss of between $125 million and $175 million from the sale of its South African thermal coal assets. It hopes to conclude the sale its majority stake by June 1. “Demonstrating the continued strength of our operational and...
The management of the Fort William aluminium smelter in Lochaber has conveyed to the area’s chamber of commerce that the plant operations are continuing as usual amid the commencement of a Serious Fraud Office (SFO) investigation into the activities of its owners, GFG Alliance. Frazer Coupland, CEO, Lochaber Chamber of Commerce described the investigation as “unsettling” and said: “The plant and its associated hydropower station were a ‘critical part’ of the community.” While on 14th May 2021, the SFO stated that it was investigating “suspected fraud, fraudulent trading and money laundering” concerning the financing and conduct of business at GFG Alliance companies. The investigation will incorporate GFG Alliance’s multi-billion pound capitalization arrangements with collapsed lender...
Three-month LME aluminium fell 0.2% to close at US$2,496 per tonne on Monday. SMM expects the contract to trade between US$2,450-2,550 per tonne today. As of Monday, May 17, LME aluminium cash (bid) price stands at US$ 2455 per tonne, LME official settlement price stands at US$ 2455 per tonne; 3-months bid price stands at US$ 2479 per tonne, 3-months offer price is US$ 2479 per tonne; Dec 22 bid price stands at US$ 2464.50 per tonne, and Dec 22 offer price stands at US$ 2464.50 per tonne. The LME aluminium opening stock stood at 1768375 tonnes. Live Warrants totalled 1226275 tonnes, and Cancelled Warrants were542100tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 2476.65 per tonne. SHFE Aluminium Price Trend Benchmark aluminium price for SHFE increased to stand at...
India’s largest producer of aluminium and value-added aluminium products, Vedanta Aluminium on 15 th May 2021, observing the occasion of International Day of Families 2021, declared the COVID Kavach (Shield) Term Insurance Policy for employees of business partners across its plants in Jharsuguda and Lanjigarh in Odisha, and BALCO in Korba, Chhattisgarh. Ajay Kapur, CEO – Aluminium & Power and MD – Commercial, Vedanta Ltd., took the call, to announce this to all staff on the occasion of International Day of Families through a video message. Last year, the company had enhanced its term life insurance for all employees, which also covers any unfortunate circumstance due to COVID. Rahul Sharma, Dy. CEO, Vedanta, Aluminium Business, said: “The health and wellbeing of our people is our foremost...
According to the National Bureau of Statistics, China’s primary aluminium production stood at 3.35 million tonnes in April. The output was a record monthly high as the relaxation in production cuts in Inner Mongolia improved supply. Primary aluminium output stood higher by 2.3 percent from 3.276 million tonnes in March and 12.4 percent from April 2020’s production. In January-April, China produced 13.02 million tonnes of primary aluminium, an increase of 9.6 percent year-on-year, the data showed. The daily output came in at 111,667 tonnes in April, from 105,700 daily tonnes in March, which has one more day. "Record high daily and monthly production are mainly due to high prices and ramp-ups of new capacity in China," said Wan Ling, aluminium analyst at CRU research. The output of 10...
SMM aluminium ingot price registers a hike after declining for the two days in a row. The price stands at RMB 19700 per tonne on Monday, 17 May 2021, indicating a growth of RMB 40 per tonne from Friday’s price of RMB 19660 per tonne. The price is expected to move within a range of RMB 19680-19720 per tonne. In Foshan, the price has increased by RMB 20 per tonne to stand at RMB 19760 per tonne on Monday, 17 May 2021. In Wuxi and Hangzhou, the price has inched up by RMB 55 per tonne and RMB 30 per tonne to stand at RMB 19715 per tonne and RMB 19725 per tonne. Aluminium ingot prices in Chongqing, Shenyang, Linyi and Gongyi have increased to stand at RMB 19700 per tonne, RMB 19710 per tonne, RMB 19710 per tonne and RMB 19600 per tonne. The price in Tianjin remained unchanged at RMB 19700 per...
