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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Morgan Stanley and ICBC Standard Bank are considering selling part of a loan, which they lend to a crucial business unit of Sanjeev Gupta’s GFG Alliance. This is a hint which speaks that lenders are gradually losing confidence in the metal producing group. According to an industry professional, the two financial giants have initiated discussions with potential buyers of their exposure to debt that financed GFG subsidiary Liberty Industries France’s acquisition of Rio Tinto’s aluminium smelter in 2018. However, it has also been stated by the industry professional: “The process is at an early stage and may not lead to a sale” All three parties have not commented on the transaction, as of yet. The aluminium plant at Dunkirk, northern France is Europe’s largest aluminium smelter and is...
After a month-long restraint at RMB 3902.50 per tonne, prebaked anode price in east China has surged by RMB 290 per tonne on April 1, 2021, to clock at RMB 4,192.50 per tonne. The average prices are expected to range between RMB 3,885 per tonne and RMB 4,500 per tonne. In central China, prebaked anode price has climbed by RMB 230 per tonne to stand at RMB 4,110 per tonne, with average prices expected to range between RMB 3,960 per tonne and RMB 4,260 per tonne. A00 aluminium ingot price in China has increased by RMB 100 per tonne on Thursday, April 1, after three consecutive days of decline from RMB 17,330 per tonne to RMB 17,160 per tonne, found the Shanghai Metals Markets. According to the data, the price is standing at RMB 17,260 per tonne, with average prices likely to range between...
Three-month LME aluminium dropped 0.67% to settle at US$2,212.5 per tonne on Wednesday, 31 March 2021. SMM expects the contract to move between US$2,210-2,250 per tonne today. As of Wednesday, March 31, LME aluminium cash (bid) price stands at US$ 2212.50 per tonne, LME official settlement price stands at US$ 2212.50 per tonne; 3-months bid price stands at US$ 2235 per tonne, 3-months offer price is US$ 2235 per tonne; Dec 22 bid price stands at US$ 2256 per tonne, and Dec 22 offer price stands at US$ 2256 per tonne. The LME aluminium opening stock stood at 1897075 tonnes. Live Warrants totalled 1330350 tonnes, and Cancelled Warrants were 566725 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 2229.11 per tonne. SHFE Aluminium Price Trend Benchmark aluminium price...
The global leading aluminium producer, Rusal has invested over $1billion in environmental projects between 2011 and 2020. The environmental measures and initiatives implemented by RUSAL over the past decade are highly praised, as the volume of emissions from the Company's enterprises has reduced by almost 20%, industrial wastewater discharges have dropped by more than twice and the consumption of freshwater has shrunk by a third. The introduction of modern production and environmental technologies as part of the modernization and development of existing production was accredited for such results. In 2020, the Company prioritised its work towards achieving its strategic environmental goals. Thus, last year the EcoSoderberg technology was introduced across the Krasnoyarsk aluminium plant...
According to a recent report, the Q2 2021 premiums for aluminium shipments to Japanese buyers are set at $148-$149 per tonne, which reflect a hike of 14-15 per cent from the March quarter. In Q1 ending on March 31, 2021, the premiums were agreed at $139-$140, an increase of 57-59 per cent from the previous quarter. Premiums have increased for the upcoming quarter primarily due to a tight container market and demand recovery from the COVID-19 induced slump, said four sources directly involved in pricing talks. The April-June premiums mark the third consecutive quarterly rise and represent the highest premiums since the same quarter in 2015. Japan is Asia's biggest importer of the light metal and the premiums for primary metal shipments it agrees to pay each quarter over the London Metal...
SMM aluminium ingot price dropped for the second time in a row. The aluminium price reduced by RMB 180 per tonne from Tuesday’s price of RMB 17340 per tonne. As on Wednesday, 31 March 2021, the price came in at RMB 17160 per tonne and is expected to move within a range of RMB 17140-17180 per tonne. In Foshan and Wuxi, the price slipped by RMB 170 per tonne and RMB 180 per tonne to stand at RMB 17160 per tonne on Wednesday, 31 March 2021. Aluminium prices in Hangzhou and Chongqing were RMB 17190 per tonne and 17140 per tonne, down RMB 160 per tonne each. Aluminium ingot prices in Shenyang, Tianjin, Linyi, and Gongyi decreased to stand at RMB 17160 per tonne, RMB 17190 per tonne, RMB 17180 per tonne, and RMB 17030 per tonne. The aluminium alloy (ADC12) price was down by RMB 50 per tonne to...
Three-month LME aluminium fell 2.02 per cent to close at US$ 2227.50 per tonne on Tuesday. It is expected to trade between US$ 2220-2280 per tonne today. As of Tuesday, March 30, LME aluminium cash (bid) price and LME official settlement price extended decline by US$ 35 per tonne to stand at US$ 2220.50 per tonne. 3-months bid price and 3-months offer price came in at US$ 2246 per tonne, down by US$ 33 per tonne from US$ 2279 per on March 29. Dec 22 bid price and Dec 22 offer price hovered around US$ 2259.50 compared to US$ 2284 per tonne on the previous day. The LME aluminium opening stock declined from 1917075 tonnes on Monday to 1905375 on Tuesday, March 30. Live Warrants totalled 1267750 tonnes, while Cancelled Warrants stood at 637625 tonnes. LME aluminium 3-months Asian Reference...
The British industrialist Sanjeev Gupta’s GFG Alliance is on the radar of the French government for preliminary investigation towards the disappearance of a loan dispensed by Greensill Capital to a French aluminium smelting plant. Greensill filed for insolvency protection on 8 th March 2021. According to the sources, the case recounts a government-backed loan worth about €18 million issued to a GFG-owned facility, Liberty Aluminium Poitou, in central France. The local investigators will look up to ascertain whether any criminal offence occurred, as revealed by an official from the Ministry of Industry, France. As per the report, Liberty Aluminium Poitou smelting plant secured the loan in December’20 but Greensill then solicited the money to be sent back in line with a two-month waiting...
Aluminium Bahrain (Alba), the world’s largest aluminium smelter ex-China, has received the British Safety Council’s the International Safety Award from the British Safety Council. The company has won award in recognition of its commitment to manage the risk of workplace injury and ill health in 2020. Alba’s Chief Executive Officer Ali Al Baqali said: “There is no limit when it comes to the Safety and well-being of our employees and contractors’ workers. Our priority on ‘Safety First & Always’ has helped us build a strong Safety culture all-year-round as well as empowered us to successfully navigate through the challenging times of COVID-19. We are pleased to be recognised again by the British Safety Council which is vote of confidence that we are what we repeatedly do – Safety Excellence...
Vedanta has raised its aluminium products price by more than 1% today. With effect from Saturday, 27 March 2021, the prices of some aluminium ingots came in at INR 188,000-201,000 per tonne, an increase of 1.29% or INR 2,500 per tonne from INR 185,500-198,500 per tonne on March 25. Billets price stands at INR 196,000 per tonne on Saturday, 27 March 2021, indicating a growth of INR 2,500 per tonne from INR 193,500 per tonne on March 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 LME has been increasing since October. The price has climbed nearly 14% in the October-December. Vedanta’s aluminium business typically accounts for one-third of the company’s consolidated sales....
Three-month LME aluminium remained unchanged to close at US$2,273.5 per tonne on Monday. SMM expects the contract to trade between US$2,240-2,280 per tonne today. As of Monday, March 29, LME aluminium cash (bid) price stands at US$ 2255.50 per tonne, LME official settlement price stands at US$ 2255.50 per tonne; 3-months bid price stands at US$ 2279per tonne, 3-months offer price is US$ 2279 per tonne; Dec 22 bid price stands at US$ 2284 per tonne, and Dec 22 offer price stands at US$ 2284per tonne. The LME aluminium opening stock stood at 1917075 tonnes. Live Warrants totalled 1267750 tonnes, and Cancelled Warrants were 649325 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 2288.89per tonne. SHFE Aluminium Price Trend Benchmark aluminium price for SHFE decreased...
A00 aluminium ingot price in China has decreased by RMB 50 per tonne to stand at RMB 17,340 per tonne on Tuesday, March 30, following the three consecutive days of hike from RMB 17,080 per tonne to RMB 17,390 per tonne, according to Shanghai Metals Market. The average prices are expected to range between RMB 17,320 per tonne and RMB 17,360 per tonne, with spot contract to be traded at a premium price of RMB 30-10 per tonne. In Shenyang, A00 aluminium ingot price has declined by RMB 85 per tonne to RMB 17,305 per tonne, followed by the decrease of RMB 80 per tonne in Linyi to RMB 17,320 per tonne. In Hangzhou, primary aluminium ingot price has dwindled by RMB 70 per tonne to RMB 17,350 per tonne, while the price in Foshan and Chongqing has dropped by RMB 60 per tonne to come in at RMB...
The British metal magnate and Executive Chairman of GFG Alliance, Sanjeev Gupta’s request for a £170 million emergency loan to prevent his group from collapsing have been rejected by British ministers, as reported by the industry sources on 28 th March 2021. The plea was rejected amid concerns by ministers over the structure and corporate governance at GFG Alliance, and whether bailout funds would remain in the country, as reported by a person familiar with the matter. As per the sources, Mr Gupta was working on plans to raise fresh loans against parts of the group facility outside the UK, which added that he also focused to generate cash from an expedited sale of goods. Sanjeev Gupta’s GFG Alliance was the biggest recipient of financing from Greensill, a British financing company that...
A00 aluminium ingot price opened the week higher by RMB 60 per tonne to RMB 17,390 per tonne as of Monday, March 29, found the Shanghai Metals Market. This marks the second consecutive day of rise from RMB 17,330 per tonne on Friday, March 26. The average prices are expected to range between RMB 17,370 per tonne and RMB 17,410 per tonne, with spot contract to be traded at a premium price of RMB 30-10 per tonne. In Chongqing, A00 aluminium ingot price has grown the highest by RMB 75 per tonne to stand at RMB 17,360 per tonne, followed by the rise of RMB 60 per tonne in Foshan and Linyi to RMB 17,390 per tonne and RMB 17,400 per tonne, respectively. In Hangzhou, primary aluminium ingot price has climbed by RMB 55 per tonne to come in at RMB 17,420 per tonne, while the price in Wuxi and...
Three-month LME aluminium gained 0.78 per cent to settle at US$ 2,273.50 per tonne last Friday, and is expected to move between US$ 2,240-2,270 per tonne today. On Friday, March 26, LME aluminium cash (bid) price and LME official settlement price soared by US$ 52.50 per tonne to close the week at US$ 2260.50 per tonne. 3-months bid price and 3-months offer price stood at US$ 2285 per tonne, up by US$ 49.50 per tonne from US$ 2235.50 per tonne on March 26. Dec 22 bid price and Dec 22 offer price hovered around US$ 2293.50 per tonne compared to US$ 2251 per tonne on the previous day. The LME aluminium opening stock declined from 1934425 tonnes on Thursday to 1926000 on Friday, March 26. Live Warrants totalled 1268250 tonnes, while Cancelled Warrants stood at 657750 tonnes. LME aluminium...
Mr Abhijit Pati, CEO and Director of BALCO explained how India’s iconic Aluminium & Power producer countered the unconventional situation which occurred due to the COVID-19 pandemic and forced to shape the business more sturdily and pursue the momentum of growth. Mr Pati, a person to reckon with the Aluminium industry for the past three decades stated that Aluminium is a metal of strategic importance to India and a vital raw material for key industries like electrical distribution, transportation, aerospace, defence, building & construction etc. He also added that it is an uninterrupted operative function, which denotes that the BALCO’s smelters have to run 365x24x7. Furthermore, as BALCO is one of India’s largest producers of aluminium, it became a self-challenge to assure that...
The large container vessel maritime traffic jam on the Suez Canal in Egypt has intensified the shortage of primary aluminium billet supplies in Europe, which resulted in higher premiums on 26 th March 2021. Suez Canal, an artificial sea-level waterway in Egypt, connecting the Mediterranean Sea to the Red Sea through the Isthmus of Suez and dividing Africa and Asia and it also is the major route for shipments between Europe and Asia, has been occluded by the large containership Ever Given since 23 rd March 2021, resulting in a maritime traffic jam of more than 100 vessels. An industry professional commented: “I think the situation just sparked another level of worry; all we have been talking about across commodities and markets is the freight situation and how it has mucked things up.”...
Started as a symbolic lights-out event in Sydney in 2007 by WWF and partners, Earth Hour today is one of the world's biggest environmental grassroots movements. Earth Hour, held annually on the last Saturday of March, involves millions of people across the globe turning off their lights to express respect for our world. Every year since 2007, millions of people take part in this global event to raise awareness about climate change. Due to the ongoing Covid-19 pandemic in several parts of the world, most countries & its citizens shall be celebrating Earth Hour online. To better understand how we as individuals can contribute and make a difference to this very important challenge faced by the man-kind, let’s first outline the importance and benefits of “ Earth Hour ” initiative: The...
