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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National Aluminium Company Limited (NALCO) reduced its aluminium ingot and aluminium products prices with effect from Monday, March 1, after raising them five times in a row till February 26, 2021. NALCO’s aluminium ingot price came in at INR 181,850 – 185,350 per tonne on March 1, down by INR 3,400 tonnes from INR 185,250- 188,750 per tonne on February 26. The company’s aluminium billets price also faced a decline of INR 3,400 per tonne on March 1 from INR 188,700- 191,350 per tonne to INR 185,300 – 187,950 per tonne. NALCO’s aluminium wire rod price ranged between INR 185,350 – 189,700 per tonne. NALCO, like any other Indian aluminium producers, links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which fell on...
According to a Reuters report, the premium for aluminium shipments to Japanese buyers has been set at $149-$165 per tonne for April-June. That indicated an increase of 15-27 per cent from the current quarter, reported sources involved in market pricing. Japan is the biggest importer of aluminium in Asia and the premiums it agrees to pay for primary aluminium shipments for each quarter over the cash price settled at the London Metal Exchange (LME) set the benchmark for the region. Japanese buyers had agreed to pay a premium of $130 per tonne for January-March, an increase of 48 per cent from the prior quarter. The growth was due to recovery in demand, especially from automakers as well as tight supplies.
Vedanta Limited increased its aluminium ingot and aluminium products prices on Wednesday, March 3, following a cut on the previous day. Vedanta raised its aluminium ingot price by INR 2,000 per tonne to INR 183,750 – 196,750 per tonne in comparison with INR 181,750 - 194,750 per tonne on Tuesday, March 2. Vedanta’s aluminium wire rod price also witnessed a hike of INR 2,000 per tonne from INR 189,250 – 196,750 per tonne on March 2 to INR 191,250 – 198,750 per tonne on March 3. Aluminium billets price came in at INR 191,750 per tonne on March 3, up by INR 2,000 per tonne or 1.05 per cent from INR 189,750 per tonne on March 2. Vedanta links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which increased from US$ 2154.50...
SMM aluminium ingot price has edged higher by RMB 150 per tonne to stand at RMB 17580 per tonne on Thursday, 04 March 2021, from its previous price of RMB 17430 per tonne on March 3. This marks the second consecutive hike in aluminium price. The price is expected to range at RMB 17560-17600 per tonne. In Foshan and Wuxi, the price has risen by RMB 150 per tonne and RMB 155 per tonne to stand at RMB 17580 per tonne and 17570 per tonne. Their average prices are expected to range within RMB 17560-17600 per tonne and RMB 17560-17580 per tonne. Aluminium prices in Hangzhou and Chongqing have come in at RMB 17610 per tonne and 17570 per tonne, up RMB 175 per tonne and RMB 170 per tonne. Aluminium ingot prices in Shenyang, Tianjin, Linyi, and Gongyi have increased to stand at RMB 17555 per...
Three-month LME aluminium fell 0.43 per cent to close at US$ 2215 per tonne on Wednesday, with open interest rising to 704,000 lots. It is expected to trade between US$ 2100-2300 per tonne today. LME aluminium cash (bid) price and LME official settlement price expanded by US$ 27 per tonne on Wednesday, March 3, to stand at US$ 2203 per tonne. 3-months bid price and 3-months offer price came in at US$ 2207 per tonne, up by US$ 28.50 per tonne from US$ 2178.50 per tonne. Dec 22 bid price and Dec 22 offer price stood at US$ 2247.50 per tonne compared to US$ 2229.50 per tonne on March 2. The LME aluminium opening stock decreased from 1307125 tonnes on Tuesday to 1304075 tonnes on Wednesday, March 3. Live Warrants totalled 1084825 tonnes, while Cancelled Warrants stood at 219250 tonnes. LME...
At the 58th National Metallurgists’ Day (NMD) International Conference and 74th Annual Technical Meeting (ATM), Mr Abhijit Pati, CEO & Director of Bharat Aluminium Company (BALCO), led the panel discussion on ‘Enhancing global competitiveness of Indian metals industries’, whereby he said Indian aluminium industry had been following the government’s visionary initiatives such as Make in India, Smart Cities, Power for All, indigenous space programs, domestic value addition, creating jobs and SMEs, aiming to make the country a self-reliant nation. Mr Pati mentioned that the Indian aluminium Industry generated over 8 lakh direct and indirect jobs and developed more than 4000 SMEs in the downstream sector. “The clarion call of an Aatmanirbhar Bharat from our Honorable Prime Minister is seeing...
The LME aluminium benchmark price edged 1 per cent higher on Tuesday, March 2, to close at US$ 2176 per tonne. On Wednesday, the LME complex performed similarly, with aluminium increased 4.46 per cent. LME aluminium cash (bid) price and LME official settlement price gained US$ 21.50 per tonne to stand at US$ 2176 per tonne on Tuesday, March 2. 3-months bid price and 3-months offer price settled at US$ 2178.50 per tonne, growing by US$ 13 per tonne from US$ 2165.50 per tonne. Dec 22 bid price and Dec 22 offer price hovered around US$ 2229.50 per tonne compared with US$ 2218 per tonne on March 1. The LME aluminium opening stock decreased from 1316800 tonnes on Monday to 1307125 on Tuesday, March 2. Live Warrants totalled 1082050 tonnes, while Cancelled Warrants stood at 225075 tonnes. LME...
Global mining and metal giant Rio Tinto has been slapped with a $406.5 million bill as part of its latest dispute with the Australian Taxation Office. Jakob Stausholm, the new CEO of Rio Tinto was in Melbourne lately, as the mining company is trying to remodel its reputation in the wake of the Juukan Gorge caves incident last May and now the new ATO row is another blow. With totalling almost $939 million, Rio and the ATO are now in dispute on three matters. While in the latest row, the ATO has issued the mining giant with amended assessments of $359.4 million in primary tax and $47.1 million in interest over money paid by its Australian entity to its United Kingdom entity. The assessments relate to the denial of interest deductions on an isolated borrowing used to pay an intra-group...
A00 aluminium ingot price has soared by RMB 530 per tonne to settle at RMB 17,430 per tonne on Wednesday, March 3, after two intermittent declines on March 1 and 2 from RMB 17,270 per tonne to RMB 16,900 per tonne, according to the Shanghai Metals Market. The average prices are expected to range between RMB 17,410 per tonne and RMB 17,450 per tonne, with spot contract to be traded at a premium price of RMB 50-10 per tonne. In Foshan, primary aluminium ingot price has jumped by RMB 520 per tonne to reach at RMB 17,430 per tonne, followed by the surge of RMB 510 per tonne and RMB 500 per tonne in Shenyang and Wuxi to come in at RMB 17,380 per tonne and RMB 17,415 per tonne, respectively. In Hangzhou, A00 aluminium ingot price is standing at RMB 17,435 per tonne by also gaining RMB 500 per...
Vedanta Limited has reduced its aluminium ingot and aluminium products prices with effect from Tuesday, March 2, after a colossal hike of INR 7,250 per tonne on Friday, February 26. The company has cut its aluminium ingot price by INR 3,500 per tonne from INR 185,250 – 198,250 per tonne on Friday to INR 181,750 - 194,750 per tonne on Tuesday, March 2. Vedanta’s aluminium wire rod price has come in at INR 189,250 – 196,750 per tonne, also down by INR 3,500 per tonne from INR 192,750 – 200,250 per tonne on February 26. Billet price is hovering around INR 189,750 per tonne compared to INR 193,250 per tonne. Vedanta links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which after February 26 decreased by US$ 48 per tonne...
Three-month LME aluminium fell 1.67% to close at US$2,121 per tonne on Monday, with open interest falling to 705,000 lots. SMM expects the contract to trade between US$2,000-2,180 per tonne today. As of Monday, March 1, LME aluminium cash (bid) price stands at US$ 2154.50per tonne, LME official settlement price stands at US$ 2154.50 per tonne; 3-months bid price stands at US$ 2165.50per tonne, 3-months offer price is US$ 2165.50 per tonne; Dec 22 bid price stands at US$ 2218per tonne, and Dec 22 offer price stands at US$ 2218 per tonne. The LME aluminium opening stock stood at 1316800 tonnes. Live Warrants totalled 1094275 tonnes, and Cancelled Warrants were 222525tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 2163.05 per tonne. SHFE Aluminium Price Trend...
A00 aluminium ingot price has continued to be on a downturn on Tuesday, March 2, to come below RMB 17,000 per tonne, found the Shanghai Metals Market. According to SMM data, the price has shrunk by RMB 150 per tonne to come in at RMB 16,900 per tonne. The average prices are expected to range between RMB 16,880 per tonne and RMB 16,920 per tonne, with spot contract to be traded at a premium price of RMB 50-10 per tonne, up by RMB 20 per tonne from the previous day. In Gongyi and Foshan, primary aluminium price has decreased by RMB 140 per tonne to RMB 16,790 per tonne and RMB 16,910 per tonne, respectively, while the price in Wuxi and Shenyang is down by RMB 135 per tonne to come in at RMB 16,915 per tonne and RMB 16,870 per tonne. In Chongqing and Hangzhou, A00 aluminium ingot price has...
RUSAL has made public that it has inked and started the drawdown of a syndicated loan agreement for RUB 45 billion with VTB and Gazprombank. The funds raised will be used to finance capital expenditure towards the completion of the first start-up complex of the Taishet aluminium smelter (TaAZ). Following the success of the first Russian sustainability-linked syndicated pre-export finance facility for $1 billion as part of the loan agreement, VTB will provide RUB 30 billion, whilst Gazprombank will provide RUB 15 billion. The tenure of financing is up to 15 years. The funds raised will be supported to finance the completion of the start-up phase of the TaAZ smelter and partial refinancing of investments made in 2020. Oleg Mukhamedshin, RUSAL’s Director of Strategy, Business Development and...
ALRO, one of the largest vertically integrated aluminium producers in Europe by production capacity, announced its preliminary consolidated financial results for FY2020, reporting a net profit of RON 329 million compared to a net loss of 67 million in the prior year and an EBIT higher by RON 300 million to RON 399 million. However, the turnover stood down by 9 per cent year-on-year at RON 2.5 billion. The increase in net profit was primarily due to the robust performance of ALRO’s wire rod and quantitative sales of extruded products, even amidst the COVID-19 pandemic. ALRO managed to implement comprehensive and effective measures to mitigate the COVID-19 impacts, while maintaining a continued flow of operations and ensuring health and safety of the employees. “The international business...
The workers of San Ciprián Aluminium smelter has unlocked the door followed by the meeting with Alcoa authorities in a possibility that the negotiations between the American multinational and the State, through the Sociedad Estatal de Participaciones Industriales ( SEPI ), reach an agreement for the sale of San Ciprián Aluminium plant before 30 th April 2021. The works council is clear that once SEPI has the ownership of the San Ciprián smelter, it will proceed to transfer it to the GFG Alliance conglomerate. A three-way operation in which, if no other move is made, the Pittsburgh giant will retain ownership of the alumina factory, whose shareholding shares with Australia's Alumina Limited, and the British group will end up acquiring the primary aluminium plant. However, with the on-going...
Prebaked anode price in East China market has edged higher by RMB 215 per tonne after remaining flat at RMB 3687.5 per tonne since February 1. As of Monday, 01 March 2021, prebaked anode price is currently hovering at RMB 3902.5 per tonne and is expected to range to RMB 3605-4200 per tonne. The average prices of prebaked anode in Central, Southwest and Northwest China markets remain unchanged at RMB 3700 per tonne, RMB 3822.50 per tonne, and RMB 3975 per tonne respectively. SMM aluminium ingot price has dropped to RMB 17050 per tonne on Monday, 01 March 2021 from its earlier price of RMB17270 per tonne. This records a decline of RMB 220 per tonne. The price is expected to move within a range of RMB 17030-17070 per tonne. The aluminium alloy (ADC12) price is down by RMB 100 per tonne to...
Three-month LME aluminium fell 2.77 per cent to close at US$ 2157 per tonne on Friday, with open interest rising to 707,000 lots. It is expected to trade between US$ 2050-2250 per tonne today. The influence of overseas macro liquidity and guiding indicators such as US dollar index and crude oil on LME metals should continue to be monitored. LME aluminium cash (bid) price and LME official settlement price decreased by US$ 20.50 per tonne to close the week at US$ 2202.50 per tonne on Friday, February 26. 3-months bid price and 3-months offer price stood at US$ 2202.50 per tonne as well, declining US$ 24.50 per tonne from US$ 2227 per tonne. Dec 22 bid price and Dec 22 offer price hovered around US$ 2250.50 per tonne compared with US$ 2272.50 per tonne on February 25. The LME aluminium...
The Indonesian state-owned company specialized in aluminium smelting, PT Indonesia Asahan Aluminium, colloquially known as Inalum has budgeted a capital expenditure of $ 318 million for 2021. The investment will be major to finance several downstream projects and increase aluminium production capacity. Oggy Achmad Kosasih, Managing Director, PT Inalum (Persero) accented: “The CAPEX of $ 318 million was used for Inalum as operating capital, not on a consolidated holding basis (MIND ID). This year's Capex is also a continuation of the CAPEX that was not absorbed last year.” "In 2020 several work contracts that have been agreed upon cannot be executed due to limitations in entry and exit between regions and between countries due to the Covid-19 pandemic. So that the realization of the CAPEX...
