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 fell 0.3 per cent to close at US$ 2,166 per tonne on Tuesday, March 9, with open interest rising to 705,000 lots. It is expected to trade between US$ 2,100-2,200 per tonne on March 10. LME aluminium cash (bid) price and LME official settlement price further decreased for the second consecutive day by US$ 11.50 per tonne or 0.53 per cent on Tuesday, March 9, to stand at US$ 2141 per tonne. 3-months bid price and 3-months offer price stood at US$ 2156.50 per tonne, down by US$ 7 per tonne from US$ 2156.50 per tonne on March 8. Dec 22 bid price and Dec 22 offer price declined from US$ 2205 per tonne on March 8 to US$ 2203.50 per tonne on March 9. The LME aluminium opening stock continued to decrease from 1293225 tonnes on Tuesday to 1286825 tonnes on Wednesday. Live...
Stewart Hamilton, the Chief Executive officer of the Tiwai Point aluminium smelter has delivered assurance that the group will shut down the smelter safely and responsibly after the New Zealand Government suspended negotiations over its future clean-up. NZAS chief said: “The smelter recognised its impact and responsibilities wouldn’t end when its operations ceased.” “We respect our local community and will share further information on closure studies as soon as possible,” he added. Global mining and metal giant, Rio Tinto, the majority stakeholder of the smelter in January decided to smelter operative at least until the end of 2024 after Meridian energy agreed to reduce the price it charged the smelter for power until then to what Meridian described as an "unsustainable" price, believed...
The National Aluminium Company Limited (Nalco), a Navratna CPSE having integrated and diversified operations in mining, metal and power under the Ministry of Mines, Government of India have received two more years’ extension of bridge coal linkage for its captive power plant as recommended by the Standing Linkage Committee of the Ministry of Coal. The extension up to 31 st March 2023 for the bridge linkage of coal is recommended examining slowdown in production from Nalco’s captive coal blocks Utkal-D and Utkal-E. The Coal Ministry said: “In view of the recommendation of the administrative ministry (Ministry of Mines) and keeping in view the production schedule from Utkal-D coal mine, the standing linkage committee (long term) recommended extension of bridge linkage to Nalco’s Unit 9 and...
Hydro restarted 100 of the 200 cells at the Husnes B-line in Western Norway. Husnes currently produces about 95,000 tonnes of aluminium annually via the A-line. The company will expand the capacity to around 195,000 as the 200 electrolysis cells in the one-kilometer-long B-line are restarted. “The journey back to full production at Hydro Husnes started on November 24, 2020 when the first of 200 electrolysis cells was restarted - after being idled for more than ten years as a result of the financial crisis,” Hydro said. The restart of the B-line represents a NOK 1.5 billion investment in upgrades and the production line holds world-class standards in climate, environmental and operational performance. “I am happy that the first 100 cells have been successfully restarted and I am impressed...
Vedanta Limited has cut its aluminium ingot and aluminium products prices with effect from Tuesday, March 9, after a rise on Saturday, March 6. The aluminium ingot price has come in at INR 181,000-194,000 per tonne, representing a decline of INR 2,000 tonne from INR 183,000-196,000 per tonne on March 6. With the latest cut, Vedanta’s aluminium wire rod price is hovering around 188,500-196,000 per tonne, also down by INR 2,000 per tonne from INR 190,500-198,000 per tonne on Saturday. The company’s aluminium billets price is at INR 189,000 per tonne as of March 9 compared to INR 191,000 per tonne on March 6. Vedanta links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which decreased on Monday, March 8, from US$ 2185...
Three-month LME aluminium fell 0.53% to close at US$2,172.5 per tonne on Monday. SMM expects the contract to trade between US$2,140-2,250 per tonne today. As of Monday, March 8, LME aluminium cash (bid) price stands at US$ 2152.50 per tonne, LME official settlement price stands at US$ 2152.50 per tonne; 3-months bid price stands at US$ 2163.50 per tonne, 3-months offer price is US$ 2163.50 per tonne; Dec 22 bid price stands at US$ 2205 per tonne, and Dec 22 offer price stands at US$ 2205 per tonne. The LME aluminium opening stock stood at 1293225 tonnes. Live Warrants totalled 1077050 tonnes, and Cancelled Warrants were 216175 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 2174.83per tonne. SHFE Aluminium Price Trend Benchmark aluminium price for SHFE decreased to...
A00 aluminium ingot price in China has recorded a downfall of RMB 310 per tonne to stand at RMB 17,180 per tonne on Tuesday, March 9, following a surge of RMB 390 per tonne on the previous day, found the Shanghai Metals Market. The average prices are expected to range between RMB 17,160 per tonne and RMB 17,200 per tonne, with spot contract to be traded at a premium price of RMB 60-20 per tonne, down by RMB 10 from March 8. In Foshan and Chongqing, A00 aluminium ingot price has plunged by RMB 310 per tonne and RMB 305 per tonne, respectively, to come in at RMB 17,180 per tonne and RMB 17,170 per tonne. The price in Tianjin is also standing at RMB 17,180 per tonne but by decreasing RMB 280 per tonne. Primary aluminium ingot price in Shenyang has seen the highest downfall of RMB 415 per...
China Hongqiao Group reported record annual profits in 2020 on higher aluminium prices. The profit jumped 72.2% last year. Annual net income stood at 10.5 billion yuan ($1.62 billion) last year, according to Reuters report. Revenues came in at 86.14 billion yuan, an increase of 2.3% year-on-year "The trend of tight supply will be maintained in the short term, and the market expects that the increase in demand for aluminium products will drive a further rise in aluminium prices," Hongqiao said. The output of aluminium alloy products was 5.622 million tonnes in 2020, representing a drop of 0.4% from 2019. That also marked the third straight annual decline. The Group closed some of its Shandong smelting facilities and transferred capacity to Yunnan province in 2020. China Hongqiao Group also...
Metal tycoon Sanjeev Gupta has crowned a reputation for over a decade as one of the world’s biggest promoter of steel by sealing deals for mills and smelters across Australia to Romania while placing up billions in debt for decaying assets. The Executive Chairman of GFG Alliance has planned out a vision of a greener future for steel, with his network of companies – GFG Alliance – leading the way. However, the almost bankruptcy of his biggest lender, Greensill Capital, has immediately throttled off a key source of funding and is threatening that pace of breakneck expansion. As per our industry sources, the Spanish government has demanded from a division of Gupta’s GFG to prove its solvency before the company will be permitted to push ahead with a takeover of San Ciprian Aluminium smelter,...
SMM aluminium ingot price marked a growth of RMB 390 per tonne on Monday, March 8 2021. The aluminium price stood at RMB 17490 per tonne today from Friday’s price of RMB 17100 per tonne. The price is expected to move within a range of RMB 17470-17510 per tonne. In Foshan and Wuxi, the price rose by RMB 390 per tonne and RMB 380 per tonne to stand at RMB 17490 per tonne and 17480 per tonne. Aluminium prices in Hangzhou and Chongqing came in at RMB 17510 per tonne and 17475per tonne, up RMB 370 per tonne and RMB 405 per tonne. Aluminium ingot prices in Shenyang, Tianjin, Linyi, and Gongyi increased to stand at RMB 17575 per tonne, RMB 17460 per tonne, RMB 17460 per tonne, and RMB 17290 per tonne. The aluminium alloy (ADC12) price was up by RMB 50 per tonne to RMB 18100 per tonne on Monday,...
Three-month LME aluminium rose 2.54 per cent to close at US$ 2184 per tonne on Friday, with open interest falling to 707,000 lots. It is expected to trade between US$ 2150-2250 per tonne today. LME aluminium cash (bid) price and LME official settlement price gained US$ 16 per tonne or 0.74 per cent on Friday, March 5, to stand at US$ 2185 per tonne, following an intermittent decrease of US$ 34 per tonne on March 4. But 3-months bid price and 3-months offer price dipped to US$ 2176 per tonne from US$ 2177.50 per tonne on March 4. Dec 22 bid price and Dec 22 offer price also stood down at US$ 2214.50 per tonne from US$ 2227.50 per tonne on Thursday. The LME aluminium opening stock decreased from 1299775 tonnes on Thursday, March 4, to 1299150 tonnes on Friday, March 5. Live Warrants...
Vedanta has hiked its aluminium products price by INR 1,500 per tonne. With effect from Saturday, 06 March 2021, the prices of some aluminium ingots are in the range of INR 183,000-196,000 per tonne, representing an increase of 0.83 per cent from INR 181,500-194,500 per tonne on March 5. The company’s billet price now stands at INR 191,000 per tonne on Saturday, 06 March 2021, a growth of INR 1,500 per tonne from INR 189,500 per tonne on March 5. 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...
The United States domestic primary aluminium production stood at 77,000 tonnes in December 2020, up by 3,000 tonnes or 4.05 per cent from 74,000 tonnes in November, showed the recent data released by the United States Geological Survey. With this, the total aluminium production in 2020 came in at 1.01 million tonnes, 7 per cent less than a year ago but 14 per cent more than in 2018. The average daily production in December 2020 was 2,480 tonnes, almost flat compared to the daily production of 2,450 tonnes in November and less by 16 per cent than in December 2019. Total aluminium recovered from scrap in December 2020 was 249,000 tonnes, 6 per cent less month-on-month and 8 per cent on the year. Of this, 131,000 tonnes of aluminium was recovered from new scrap, while 117,000 tonnes from old...
The LME aluminium benchmark price gained 1.42 per cent over the week to close at US$ 2185 per tonne as of Friday, March 5. LME aluminium cash (bid) price and LME official settlement price edged higher this week from US$ 2154.50 per tonne to US$ 2185 per tonne. Starting the week on Monday, March 1, at US$ 2154.50 per tonne, the price rose to US$ 2176 per tonne on Tuesday and further to US$ 2203 per tonne on Wednesday, March 3. However, on Thursday, March 4, both LME aluminium cash (bid) price and LME official settlement price stood US$ 34 per tonne lower to come in at US$ 2169 per tonne. On Friday, March 5, the prices rebounded to close the week at US$ 2185 per tonne. 3-months bid price and 3-months offer price started the week at US$ 2165.50 per tonne, which grew on Tuesday, March 2, to...
SMM aluminium ingot price saw mixed performance this week. The price declined by RMB 220 per tonne and RMB 150 per tonne to stand at RMB 17050 per tonne and RMB 16900 per tonne on Monday,1 March and Tuesday, 2 March. The price on Thursday stood higher by RMB 150 per tonne to RMB 17580 per tonne, from Wednesday’s price of RMB 17430 per tonne. Aluminium price closed Friday’s trading at RMB 17100 per tonne, down RMB 480 per tonne. According to the Shanghai Metals Market, social inventories of primary aluminium rose 91,000 tonnes over the week, ending on Thursday, March 4, 2021. Data shows the stocks across eight major Chinese consumption areas, including SHFE warrants, came in at 91,000 tonnes, as of March 4, compared to 1.173 million tonnes last week. The alumina price in China remained...
Yu Dehui, the former general manager of Aluminum Corporation of China Ltd. (CHALCO), suggested that China, the world’s largest aluminium producer and consumer, must advance the green and low-carbon development of the aluminium industry to reach the carbon dioxide emission peak by 2030 and achieve carbon neutrality before 2060. The news came after S&P Global Platts reported that Yu suggested China to set up the total carbon emission target for the aluminium industry, while speaking on the sidelines of the National People’s Congress and the Chinese People’s Political Consultative Conference. He also recommended China to carry out quota management for carbon emission, given the aluminium consumption in the country will keep rising and reach the peak expectedly by 2035. China should also...
Benchmark aluminium price on London Metal Exchange dropped 1.54 per cent to US$ 2169 per tonne on Thursday, 04 March 2021 from US$ 2203 per tonne on Wednesday. As of Thursday, March 4, LME aluminium cash (bid) price stands at US$ 2169 per tonne, LME official settlement price stands at US$ 2169 per tonne; 3-months bid price stands at US$ 2177.50 per tonne, 3-months offer price is US$ 2177.50 per tonne; Dec 22 bid price stands at US$ 2227.50 per tonne, and Dec 22 offer price stands at US$ 2227.50 per tonne. The LME aluminium opening stock stood at 1299775 tonnes. Live Warrants totalled 1083800 tonnes, and Cancelled Warrants were 215975 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 2171.21 per tonne. SHFE Aluminium Price Trend Benchmark aluminium price for SHFE...
According to the Shanghai Metals Market, social inventories of primary aluminium have built-up 91,000 tonnes over the week, ending on Thursday, March 4, 2021. Data shows the stocks across eight major Chinese consumption areas, including SHFE warrants, have come in at 91,000 tonnes, as of March 4, compared to 1.173 million tonnes last week. Higher arrivals of stocks in Wuxi, Nanhai, and Gongyi primarily attributed to the further expansion in China’s primary aluminium inventories on March 4, found SMM. The chart below indicates the current status of primary aluminium inventories across China in more details: Wuxi has seen the highest growth of 38,000 tonnes to 448,000 tonnes on March 4, followed by the surge of 36,000 tonnes in Nanhai to come in at 284,000 tonnes, learned SMM. In Gongyi,...
