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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Three-month LME aluminium rose 2.23% to close at US$ 2,220 per tonne on Monday. According to the SMM import profit and loss calculation model, the import profit stood at about RMB 460 per tonne at present, and the import window opened. The inflow of overseas primary aluminium will be monitored. It is expected to trade between US$ 2,180-2,280 per tonne today. LME aluminium cash (bid) price and LME official settlement price climbed by US$ 45.50 per tonne or 2.13 per cent on Monday, March 15, to stand at US$ 2184.50 per tonne, following an intermittent decline on Friday from US$ 2159 per tonne to US$ 2139 per tonne. 3-months bid price and 3-months offer price stood at US$ 2210.50 per tonne, up by US$ 44.50 per tonne from US$ 2166 per tonne on March 12. Dec 22 bid price and Dec 22 offer price...
On 15 th March 2021, Emirates Global Aluminium (EGA), one of the global leading producers of aluminium was awarded by Dubai Chamber CSR Label for outstanding effort in corporate social responsibility. The Dubai Chamber CSR Label from the Dubai Chamber of Commerce & Industry intents to recognise companies that deliver corporate social responsibility projects to international standards with local relevance. Companies are assessed in how their corporate social responsibility impacts the workplace, the marketplace, the community and the environment. EGA was honoured in a virtual ceremony by His Excellency Hisham Al Shirawi, Vice-Chairman of Dubai Chamber of Commerce and Industry. Abdulnasser Bin Kalban, Chief Executive Officer of EGA, said: “At EGA, we respect our neighbours and we are...
Hydro’s reported Underlying EBIT in FY2020 stood at NOK 6,051 million compared to NOK 3,359 million in FY2019 and NOK 9,069 million in FY2018. This reflects year-on-year growth of 80.14 per cent but a decrease of 33.28 per cent than in 2018. Underlying EBIT from bauxite and alumina stood 85.42 per cent higher in 2020 at NOK 1,806 million in comparison with NOK 974 million in 2019 but fell by 20.86 per cent from NOK 2,282 million in 2018. From primary aluminium, Hydro generated an Underlying EBIT of NOK 1,225 million in 2020, flat compared to NOK 1,259 million in 2019 but down by 30.48 per cent from NOK 1,762 million in 2018. EBIT from extrusions stood at NOK 2,196 million in 2020, up by 9.31 per cent from NOK 2,009 million in 2019 but down by 15.94 per cent from NOK 2,390 million in 2018....
Three-month LME aluminium fell 0.64% to close at US$2,171 per tonne on Friday, with open interest rising to 726,000 lots. SMM expects the contract to fluctuate between US$2,100-2,160 per tonne today. As of Friday, March 12, LME aluminium cash (bid) price stands at US$ 2139 per tonne, LME official settlement price stands at US$ 2139 per tonne; 3-months bid price stands at US$ 2166 per tonne, 3-months offer price is US$ 2166 per tonne; Dec 22 bid price stands at US$ 2203 per tonne, and Dec 22 offer price stands at US$ 2203 per tonne. The LME aluminium opening stock stood at 1923025 tonnes. Live Warrants totalled 1713600 tonnes, and Cancelled Warrants were 209425 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 2164.50 per tonne. SHFE Aluminium Price Trend Benchmark...
According to the Shanghai Metals Market, A00 aluminium ingot price has opened the week on Monday, March 15, with the third consecutive day of growth by RMB 250 per tonne to RMB 17,620 per tonne, found the Shanghai Metals Market. The average prices are expected to range between RMB 17,600 per tonne and RMB 17,640 per tonne, with spot contract to be traded at a premium price of RMB 20-20 per tonne, up by RMB 30 per tonne from the previous day. In Wuxi, A00 aluminium ingot price has surged the highest by RMB 295 per tonne to RMB 17,630 per tonne, followed by the rise of RMB 250 per tonne in Foshan, Hangzhou, and Shenyang to stand at RMB 17,620 per tonne, RMB 17,630 per tonne, and RMB 17,585 per tonne, respectively. In Gongyi and Linyi, primary aluminium ingot price has increased by RMB 210...
Vedanta has cut its aluminium products price for the second day in a row. With effect from Saturday, 13 March 2021, the prices of some aluminium ingots are in the range of INR 179,000-192,000 per tonne, marking a decrease of 1.1% or INR 2,000 per tonne from INR 181,000-194,000 per tonne on March 9. The company’s billet price now stands at INR 187,000 per tonne on Saturday, 13 March 2021. This is down by INR 2,000 per tonne from INR 189,000 per tonne on March 9. 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...
British metal tycoon Sanjeev Gupta’s GFG Alliance has initiated negotiations with Grant Thornton, the administrators of collapsed Greensill Capital, over a “standstill agreement” between the two parties. It has come followed by the court filings submitted a few days back which unfolds that Greensill’s biggest client, GFG Alliance defaulted on repayments to the boutique financial firm. As per the industry sources, Gupta’s GFG Alliance could owe up to £3 billion to the lender. The source also came up with a report that Sanjeev Gupta delivered an internal communication to staffs that there were “constructive discussions” between the two sides. “A formal deal would put on hold arrangements between the two parties and allow both sides more time to assess and negotiate next steps,” the message...
Aluminium Bahrain (Alba), the world’s largest aluminium smelter ex-China, held its first Annual General Meeting (AGM) through virtual platforms. The AGM approved the non-distribution of cash dividends to the shareholders and transfer BD9,755 Thousand - the Net Profit for the year-ended 31 December 2020, to the Retained Earnings. The minutes of the previous Annual General Meeting were also discussed and approved. The Report of the Board of Directors for 2020 was approved while the External Auditors’ Report for the Financial Statements for 2020 was reviewed. “Approvals were also given to the recommendation of the Board of Directors’ total remuneration of BD210,000 for the year-ended 31 December 2020 and subject to the approval of the Ministry of Industry, Commerce and Tourism,” Alba said....
SMM aluminium ingot price registers a hike for the second day in a row. The price stands at RMB 17370 per tonne on Friday, March 12 2021. This is a growth of RMB 10 per tonne from Thursday’s price of RMB 17360 per tonne. The price is expected to move within a range of RMB 17350-17390 per tonne. In Foshan, the price has increased by RMB 20 per tonne to stand at RMB 17370 per tonne on Friday, March 12 2021. In Wuxi and Hangzhou, the price has inched down by RMB 35 per tonne and RMB 25 per tonne to stand at RMB 17335 per tonne and RMB 17375 per tonne. Aluminium ingot prices in Chongqing, Shenyang and Tianjin have declined to stand at RMB 17325 per tonne, RMB 17335 per tonne, and RMB 17350 per tonne. The price in Tianjin and Gongyi remained unchanged at RMB 17370 per tonne and RMB 17260 per...
Three-month LME aluminium rose 0.92% to close at US$2,185 per tonne on Thursday, with open interest rising to 716,000 lots. SMM expects the contract to trade between US$2,100-2,200 per tonne today. As of Thursday, March 11, LME aluminium cash (bid) price stands at US$ 2159per tonne, LME official settlement price stands at US$ 2159 per tonne; 3-months bid price stands at US$ 2181.50 per tonne, 3-months offer price is US$ 2181.50 per tonne; Dec 22 bid price stands at US$ 2227 per tonne, and Dec 22 offer price stands at US$ 2227per tonne. The LME aluminium opening stock stood at 1608675 tonnes. Live Warrants totalled 1409000 tonnes, and Cancelled Warrants were 199675 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 2190.92per tonne. SHFE Aluminium Price Trend Benchmark...
AlCircleBiz, the world's first global marketplace which connects millions of buyers and sellers across the entire aluminium value chain, went live on 14 th November’20, proudly announces the platform has crossed 100+ global seller as on date. AlCircleBiz brings on board 40+ years of industry experience in the Aluminium domain, with a network of offices, representatives & associates in all 5 continents, covering over 17 verticals and having 1000+ partners around the globe. The prime feature of AlCircleBiz is to connect buyers and sellers through enquires against listed products and business leads. The online marketplace is sailed by the mission to turn out enterprising supply chains through increased transparency and reduced dependencies on intermediaries across the aluminium value chain....
According to the Shanghai Metals Market, China’s primary aluminium ingot inventories have increased by 55,000 this week across eight major consumption areas, including SHFE warrants. Data shows the stocks have come in at 1.23 million tonnes on March 11 compared to 1.17 million tonnes on March 4. SMM data found that primary aluminium ingot inventories this week have recorded a slower growth by 36,000 tonnes. The chart below indicates the current status of primary aluminium inventories across China in more details: In Nanhai, primary aluminium inventories have surged by 30,000 tonnes on March 11 to stand at 314,000 tonnes, followed by the hike in Wuxi by 15,000 tonnes to come in at 463,000 tonnes. In Chongqing and Shanghai, primary aluminium stocks have gained 4,000 tonnes and 3,000 tonnes...
After two consecutive downfalls on March 9 and 10 from RMB 17,490 per tonne to RMB 17,090 per tonne, A00 aluminium ingot price has recorded a surge of RMB 270 per tonne on Thursday, March 11, to settle at RMB 17,360 per tonne. The average prices are expected to range between RMB 17,340 per tonne and RMB 17,380 per tonne, with spot contract to be traded at a premium price of RMB 40-0 per tonne. In Chongqing, primary aluminium ingot price has increased the highest by RMB 295 per tonne to RMB 17,360 per tonne, followed by the hike of RMB 280 per tonne in Tianjin to come in at RMB 17,370 per tonne as of March 11. In Gongyi and Foshan, A00 aluminium ingot price has expanded by RMB 270 per tonne to RMB 17,260 per tonne and RMB 17,350 per tonne, while the price in Shenyang and Hangzhou has grown...
Benchmark aluminium price on London Metal Exchange slightly up by 0.4 per cent to US$ 2149.5 per tonne on Wednesday, March 10, from US$ 2141 per tonne on Tuesday. As of Wednesday, March 10, LME aluminium cash (bid) price stands at US$ 2149.50 per tonne, LME official settlement price stands at US$2149.50 per tonne; 3-months bid price stands at US$ 2168.50per tonne, 3-months offer price is US$ 2168.50 per tonne; Dec 22 bid price stands at US$ 2213.50 per tonne, and Dec 22 offer price stands at US$ 2213.50 per tonne. The LME aluminium opening stock stood at 1280575 tonnes. Live Warrants totalled 1068225 tonnes, and Cancelled Warrants were 212350 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 2170.43 per tonne. SHFE Aluminium Price Trend Benchmark aluminium price for...
Kazakhstan Aluminium Smelter (KAS), part of the Eurasian Resources Group (ERG), has reportedly bought new specialised equipment to move its aluminium storage containers faster and safer. Earlier, the company used to move storage containers with a crane that held up to 25 tonnes of aluminium. However, now the new reach-stacker equipment is able to move up to 45 tonnes. One of the biggest advantages of the new equipment is its manoeuvrability. The equipment has wheels that can rotate by up to 90 degrees, while its operator’s cab can be adjusted forwards and backwards to maintain a safe distance from the cargo. The equipment has enough space to stack up to three containers on top of one another and has a variety of sensors to help carry out loading and deloading operations. Serik Donbekbaev,...
En+ Group’s Taishet aluminium smelter has started receiving electricity from the Ozernaya substation, as declared by the Group, the world’s largest producer of low carbon aluminium and independent hydropower. En+ Group says the supply of electricity has begun to the indoor switchgear inverter complete substation of the smelter. Mikhail Hardikov, head of En+ Group's energy sector, said: “Connecting the Taishet aluminium smelter to the Ozernaya electrical substation represents a significant step in taking the aluminium industry of the Angara region to a new level. The upcoming launch of the Taishet smelter will be a significant driver for the economic development of the Irkutsk region. Aluminium production at the smelter will be powered by clean and renewable hydropower. Total investment...
According to the Shanghai Metals Market, China’s primary aluminium production stood at 3.02 million tonnes in February 2021, reflecting a downfall of 9.04 per cent from 3.32 million tonnes in January 2021. However, on a year-on-year calculation, the output improved by 5.23 per cent from 2.87 million tonnes. China’s aluminium production in the first two months of 2021 totalled 6.34 million tonnes, up 6.73 per cent from 5.94 million tonnes during the same period last year. Daily output, however, gained a few hundred tonnes in February 2021 to stand at 107,700 tonnes, driven by continued production at Yunnan Shenhuo, Hongtai and Inner Mongolia Chuangyuan Phase II. In January 2021, China’s daily primary aluminium output stood at 107,100 tonnes, registering a rise of 1,400 tonnes from 105,800...
As updated by Shanghai Metals Market, alumina price in Shandong China market has marked a hike after two days of restraint. The price has increased by RMB 10 per tonne to stand at RMB 2340 per tonne on Wednesday, 10 March 2021. Alumina price in other major markets remained unchanged today. Australian alumina FOB price stood at USD 292 per tonne. That registered a decrease of USD 4 per tonne. SMM aluminium ingot price stood lower for the two days in a row. The price came in at RMB 17090 per tonne on Wednesday, 10 March 2021. That marked a drop of RMB 90 per tonne. The price is expected to range at RMB 17070-17110 per tonne. On Wednesday, 10 March 2021, in Foshan and Wuxi, the price declined by RMB 100 per tonne and RMB 85 per tonne to stand at RMB 17080 per tonne and 17120 per tonne....
