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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Vedanta Limited has raised its aluminium ingot and aluminium products prices significantly with effect from Friday, February 26, following an intervening cut on February 24. The increase in Vedanta’s aluminium prices is in line with the highest ever surge of US$ 77.50 per tonne in the LME aluminium price on Thursday, February 25. With the latest hike, Vedanta’s aluminium ingot price has come in at INR 185,250 – 198,250 per tonne as of February 26, up by INR 7,250 per tonne from INR 178,000 – 191,000 per tonne on February 24. The company’s aluminium wire rod price has also witnessed a raise of INR 7,250 per tonne from INR 185,500 – 193,000 per tonne on February 24 to INR 192,750 – 200,250 per tonne on February 26. Vedanta’s aluminium billet price is currently hovering at 193,250 per tonne...
Three-month LME aluminium gained 0.7 per cent to close at US$ 2,218.50 per tonne on Thursday, February 25, and is likely to move around US$ 2,180-2,240 per tonne on February 26. LME aluminium cash (bid) price and LME official settlement price extended its upswing trend by US$ 77.50 per tonne or 3.61 per cent on Thursday, February 25, to stand at US$ 2223 per tonne. This marks the highest jump ever by the LME aluminium price. 3-months bid price and 3-months offer price came in at US$ 2227 per tonne, soaring by US$ 69.50 per tonne from US$ 2157.50 per tonne on February 24. Dec 22 bid price and Dec 22 offer price hovered around US$ 2272.50 per tonne compared with US$ 2210.50 per tonne on February 24. The LME aluminium opening stock further decreased from 1337700 tonnes to 1332525 tonnes on...
A00 aluminium ingot price has recorded a plunge of RMB 290 per tonne to close the week on Friday, February 26, at RMB 17,270 per tonne, following a sweeping rise of RMB 820 per tonne to RMB 17,560 per tonne on February 25, found the Shanghai Metals Market. The average prices are likely to range between RMB 17,250 per tonne and RMB 17,290 per tonne, with spot contract to be traded at a premium price of RMB 80-40 per tonne, down by RMB 10 per tonne from the previous day. Foshan has seen the highest decrease of RMB 280 per tonne to RMB 17,280 per tonne, followed by the decline of RMB 275 per tonne in Wuxi to RMB 17,250 per tonne. In Gongyi and Chongqing, A00 aluminium ingot price has shrunk by RMB 260 per tonne to come in at RMB 17,100 per tonne and RMB 17,270 per tonne, respectively, while...
The Indian public sector coal mining and refining company, Coal India projects to invest INR 1.43 lakh crore in 26 projects in new business areas. The new business areas will incorporate a Greenfield aluminium project along with brownfield aluminium projects in a joint venture with NALCO, solar wafer manufacturing, solar generation projects and thermal power plants. As per our report, the company has received approvals from NITI Aayog, DIPAM for the solar wafer manufacturing and the Greenfield aluminium projects. The company has already prepared a draft market assessment report and plans for a special purpose vehicle (SPV) and aims to float tender for the JV by Q2 of FY22. Coal India plans to subsume SPV, where it will seek private partners and bid, will be on the lines of the UMPP (Ultra...
RUSAL has announced that it will infuse RUB 4.5 billion this year towards modernizing the Sayanogorsk and Khakas Aluminium smelters. The bulk of the funds will be used to enhance the production of electrodes, installation of new equipment in the foundry division and revamp the energy efficiency of enterprises. RUSAL will pursue its large-scale modernization of anode baking furnaces at the electrode production facility, as a part of the modernization of the Sayanogorsk smelter. The new state-of-the-art equipment will reduce the smelter’s impact on the environment, increase the energy efficiency of the enterprise and improve the quality of products. However, the accomplishment of construction and installation work on this project is scheduled for the end of 2023. In the foundry, plans...
En+ Group, the world’s leading producer of low-carbon aluminium and largest private sector generator of hydropower, announced that it again indulged in a large-scale “New Energy" modernisation programme by replacing six hydraulic units at the Group’s Bratsk HPP. The replacement works, to be taken place from 2021 to 2026, would cost more than 1.5 billion roubles for this stage. The outcome of the project will see all 18 impellers replaced, of which 12 had already been replaced at the earlier stages of the modernisation programme during 2007-10 and 2014-17. Russian specialists have completed several months of testing on the new hydro turbine model, as well as tests on its operation in various load modes. Mikhail Hardikov, head of En+ Group's energy sector, said: "We are continuing our work...
Social inventories of primary aluminium in China have continued to grow this week, ending on Thursday, February 25, according to the Shanghai Metals Market. Data shows inventories have expanded across eight major Chinese consumption areas, including SHFE warrants, to come in at 1.082 million tonnes, reflecting a week-on-week hike of 181,000 tonnes from 901,000 tonnes on February 18 and an increase of 58,000 tonnes from 1.022 million tonnes on February 22. Higher arrivals of stocks to Wuxi, Nanhai, and Gongyi have primarily contributed to the further rise in China’s primary aluminium inventories. Wuxi has seen a jump of 102,000 tonnes in primary aluminium inventories week-on-week to 410,000 tonnes on February 25, followed by a surge of 42,000 tonnes in Nanhai to 248,000 tonnes. In Gongyi,...
SMM aluminium ingot price marked a big jump on Thursday, 25 February 2021. The aluminium price registered an increase of RMB 820 per tonne from Wednesday’s price of RMB 16740 per tonne. The price now stood at RMB 17560 per tonne today and is expected to move within a range of RMB 17540-17580 per tonne. In Foshan and Wuxi, the price rose by RMB 820 per tonne and RMB 810 per tonne to stand at RMB 17560 per tonne and 17525 per tonne. Their average prices are expected to range within RMB 17540-17580 per tonne and RMB 17510-17540 per tonne. Aluminium prices in Hangzhou and Chongqing came in at RMB 17525 per tonne and 17530 per tonne, up RMB 770 per tonne and RMB 800 per tonne. Aluminium ingot prices in Shenyang, Tianjin, Linyi, and Gongyi increased to stand at RMB 17510 per tonne, RMB 17515...
Three-month LME aluminium jumped 2.27 per cent to settle at US$ 2203 per tonne on Wednesday, with open interest adding 2,677 lots to 700,000 lots. It is likely to fluctuate between US$ 2000-2200 per tonne today. LME aluminium cash (bid) price and LME official settlement price increased by US$ 9 per tonne or 0.42 per cent on Wednesday, February 24, to stand at US$ 2145.50 per tonne, following a decline from US$ 17 per tonne to US$ 2136.50 per tonne on Tuesday, February 23. 3-months bid price and 3-months offer price came in at US$ 2157.50 per tonne, also up by US$ 9 per tonne. Dec 22 bid price and Dec 22 offer price hovered around US$ 2210.50 per tonne compared with US$ 2202.50 per tonne on February 23. The LME aluminium opening stock continued to decrease from 1343075 tonnes to 1337700...
Press Metal Aluminium Holdings Bhd announced results for the fourth quarter and full year of 2020 The Group’s revenue was RM2.12 billion in Q4 2020 as compared to RM2.20 billion in Q4 2019, a decrease of RM81.00 million or 3.7% due to the lower extrusion products sales in Q4 2020. Profit before tax (PBT) was RM208.72 million for the quarter, indicating an increase of RM28.95 million or 16.1% year-on-year on lower raw material costs and finance costs incurred in Q4 2020. On a full year basis, revenue stood at RM7.54 billion for FY2020, a decline of 14.4% compared to RM8.80 billion in FY2019 due to the softer aluminium prices in the first half of 2020 during the height of the pandemic. PBT grew by 3.0% to RM650.17 million as compared to RM631.22 million for FY2019 mainly due to cost...
In January 2021, primary aluminium production in North America stood at 340,000 tonnes, reflecting a continuous increase by 2,000 tonnes or 0.60 per cent month-on-month. In December 2020, the output registered a growth of 10,000 tonnes or 3.05 per cent to 338,000 tonnes from 328,000 tonnes in November. In the Q4 2020, North America’s aluminium production totalled 1 million tonnes, up by 1.94 per cent sequentially. On a year-on-year basis, primary aluminium production in North America edged 10,000 tonnes or 3.03 per cent higher in January 2020 from 330,000 tonnes. In the full-year of 2020, North America churned out 3.976 million tonnes, down by 4.38 per cent from 3.809 million tonnes in 2019. South America’s primary aluminium production in January 2021 increased 3,000 tonnes or 3.26 per...
Vedanta has cut its aluminium products price after hiking it for the fifth time in a row. With effect from Wednesday, 24 February 2021, the prices of some aluminium ingots are in the range of INR 191,000-178,000 per tonne, representing a decline of INR 1,750 per tonne from INR 192,750-179,750 per tonne on February 19. The company’s billet price now stands at INR 186,000 per tonne on Wednesday, 24 February 2021, a decrease of INR 1,750 per tonne from INR 187,750 per tonne on February 19. 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...
Hindalco Industries Limited has reduced its aluminium products price today. With effect from Wednesday, 24 February 2021, wire rods price stands at INR 189,350 per tonne, a drop of INR 1,750 per tonne from INR 191,100 per tonne on February 19. The company is selling its aluminium billets and aluminium ingot price at INR 185,350 per tonne and INR 178,250 per tonne as of Wednesday, 24 February 2021. That was down 1 per cent each from INR 187,100 per tonne and INR 180,000 per tonne on February 19. 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. Aluminium operations of the company,...
Three-month LME aluminium fell to an intraday low of US$2,126.5 per tonne before regaining some ground to settle 0.97% lower at US$2,154 per tonne on Tuesday, with open interest adding 2,813 lots to 697,000 lots. As of Tuesday, February 23, LME aluminium cash (bid) price stands at US$ 2136.50 per tonne, LME official settlement price stands at US$ 2136.50 per tonne; 3-months bid price stands at US$ 2148.50per tonne, 3-months offer price is US$ 2148.50per tonne; Dec 22 bid price stands at US$ 2202.50per tonne, and Dec 22 offer price stands at US$ 2202.50per tonne. The LME aluminium opening stock stood at 1343075 tonnes. Live Warrants totalled 1125075 tonnes, and Cancelled Warrants were 218000 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 2169per tonne. SHFE...
On 22 nd February 2021, mining and metal giant Vedanta announced that G R Arun Kumar has resigned from the company as Chief Financial Officer (CFO). However, the company said in a filing to BSE that it will declare the effective date of relieving of Kumar and details of the successor in due course. "The board has taken note of the resignation of GR Arun Kumar from the post of Whole-Time Director & Chief Financial Officer of the company to pursue a career outside of the Group," Vedanta said. “Kumar has made an invaluable contribution towards the company's growth and its transformation journey during his tenure of close to eight years”, Vedanta added. Vedanta Ltd, a subsidiary of Vedanta Resources Ltd, is one of the world's leading diversified natural resource companies with business...
Africa’s primary aluminium production stood at 133,000 tonnes in January 2021, a decrease of 1.48% from 135,000 tonnes in December 2020 but up 3.2% tonnes from 129,000 tonnes in November. The output marked a decline of 2.21% year-on-year, according to the latest data showed by the International Aluminium Institute (IAI) on Monday, 22 February 2021. Primary aluminium production in Africa stood at 1.605 million tonnes in 2020. That was down 2.31% year-on-year, IAI data showed. Aluminium production was 1.643 million tonnes in 2019. World primary aluminium production rose 0.23 per cent month-on-month to 5.707 million tonnes in January 2021. On a year-on-year calculation, the output stood higher by 4.29 per cent from 5.472 million tonnes. The output in 2020 stood at 65.296 million tonnes, up...
In East & Central Europe, primary aluminium production stood at 353,000 tonnes in January 2021, registering a slight rise of 1,000 tonnes or 0.28 per cent month-on-month. Primary aluminium output in December grew 12,000 tonnes or 3.53 per cent from 340,000 tonnes in November 2020. In the last quarter (Q4) of 2020, primary aluminium production in East & Central Europe amounted to 1.043 million tonnes, bringing the total output in 2020 to 4.153 million tonnes. On a year-on-year basis, primary aluminium output in East & Central Europe stood down by 3,000 tonnes or 0.84 per cent from 356,000 tonnes. In West Europe, primary aluminium production in January 2021 saw an increase of 3,000 tonnes or 1.06 per cent month-on-month. From 282,000 tonnes in December 2020, the output in West Europe grew...
