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 further increased its aluminium ingot and aluminium products prices for the fifth consecutive time, with effect from Thursday, February 18. With the latest hike, Vedanta’s aluminium ingot price has come in at INR 176,000-189,000 per tonne, up by INR 2,000 per tonne or 1.15 per cent from INR 174,000 – 187,000 per tonne a week ago. Vedanta’s aluminium wire rod price is currently hovering around INR 183,500—191,000 per tonne compared to INR 181,500-189,000 per tonne on February 11. The company's aluminium billets price has also been raised by INR 2,000 per tonne from INR 182,000 per tonne on February 11 to INR 184,000 per tonne on February 18. The Indian aluminium producers generally link aluminium ingot and aluminium products prices to the three-month futures of...
Three-month LME aluminium advanced 1.2% to settle at US$2,112.5 per tonne on Wednesday, with open interest decreasing 5,068 lots to 681,000 lots. As of Wednesday, February 17, LME aluminium cash (bid) price stands at US$ 2096.50 per tonne, LME official settlement price stands at US$ 2096.50 per tonne; 3-months bid price stands at US$ 2103.50 per tonne, 3-months offer price is US$ 2103.50 per tonne; Dec 22 bid price stands at US$ 2167.50 per tonne, and Dec 22 offer price stands at US$ 2167.50 per tonne. The LME aluminium opening stock stood at 1365375 tonnes. Live Warrants totalled 1131850 tonnes, and Cancelled Warrants were 233525 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 2091.50 per tonne. SHFE Aluminium Price Trend Shanghai Futures Exchange resumed trading...
A00 aluminium ingot price has opened the market after a week-long Chinese New Year Holiday with a surge of RMB 440 per tonne to stand above RMB 16,000 per tonne, found the Shanghai Metals Market. According to the data, the price today, on February 18, has pegged at RMB 16,210 per tonne, the highest since the beginning of 202. The average prices are expected to range between RMB 16,190 per tonne and RMB 16,230 per tonne, with spot contract to be traded at a premium price of RMB 90-50 per tonne. In Wuxi and Hangzhou, A00 aluminium ingot price has grown the highest by RMB 485 per tonne to come in at RMB 16,260 per tonne and RMB 16,285 per tonne on February 18. Gongyi has seen a hike of RMB 470 per tonne to RMB 16,070 per tonne, followed by the surge of RMB 460 per tonne in Tianjin to RMB...
Aluminium ingot production in Iran rose 65 per cent to 364,783 tonnes during the first ten months of the current Iranian calendar year (March 20, 2020 – January 19, 2021) compared to the same period of the previous year. In the tenth month of the year ending on January 19, 2021, aluminium ingot output in Iran came in at 39,560 tonnes, up by 58 per cent year-on-year. By the end of the current Iranian calendar year, aluminium ingot production in Iran is estimated to record an increase of 63 per cent. Iran’s aluminium ingot production in the past Iranian calendar year ended on March 19, 2020, fell 8 per cent from the preceding year. Major aluminium producers produced 275,716 tonnes of aluminium ingots in the same year, according to the Industry, Mining and Trade Ministry data. Among the...
The National Aluminium Company Limited (NALCO), a Navratna CPSE under Ministry of Mines, Govt. of India has posted higher EBITDA in Q3FY21 driven by a strong performance by the aluminium business piloted by higher LME aluminium prices and favourable costs. Sridhar Patra, CMD, NALCO explained: “COVID-19 pandemic has impacted the production during April’20 to August’20. The plant was operating at around 65% of capacity utilisation. Despite that, we are sure that we are achieving 95% of last year production and we are quite confident of achieving the same.” However, regarding aluminium production, he said, “Last year we achieved 21.6 lakh tonne of alumina and 4.1 lakh tonne of aluminium production. We are making all the efforts to cross aluminium production of 4.1 lakh tonne in FY21.” “As...
On Wednesday, February 17, Rio Tinto has announced that it changed its estimates of Ore Reserves and Mineral Resources at Rio Tinto Aluminium (RTA) Pacific Operations’ Weipa and Gove assets. The estimate has been decreased by 305 Mt from 1,530 Mt to 1,224 Mt. The reduction in Ore Reserve estimate is associated with a routine review of price assumptions over the life of the mine. There has been no material change to the economic cut-off methodology or process. There has been no material change to the other reserve modifying factors, including: governmental, tenure, environmental, cultural heritage, social, community or operational. Rio Tinto Aluminium Pacific Operations Mineral Resources exclusive of Ore Reserves, on the other hand, has recorded a hike of 128 Mt from 1,949 Mt to 2,077 Mt....
The GCC countries have drawn all the attention of the global aluminium industry with record production of aluminium in 2020. The output surpassed the 6 million tonnes milestone for the first time ever, in a year that witnessed historic odds and challenges due to the unprecedented COVID-19 outbreak. According to the recent statistic of the Gulf Aluminium Council (GAC), five primary aluminium producers in the GCC collectively produced 6,115,408 tonnes of high-quality aluminium in 2020 for both the domestic and overseas markets, registering an increase of 353,554 tonnes or 6 per cent from 5,771,854 tonnes in 2019. Let us now look into the five producers that helped the GCC countries achieve the new milestone: Aluminium Bahrain’s Line 6 full capacity primarily drove the record production of...
Benchmark aluminium price on the London Metal Exchange edged slightly lower to US$ 2077 per tonne on Tuesday, February 16, from US$ 2079 per tonne on Monday. LME aluminium cash (bid) price and LME official settlement price slipped by US$ 2 per tonne on Tuesday, February 16, to stand at US$ 2077 per tonne. 3-months bid price and 3-months offer price, however, recorded a hike of US$ 3.5 per tonne to clock at US$ 2086 per tonne. Dec 22 bid price and Dec 22 offer price came in at US$ 2147 per tonne, up by US$ 4.5 per tonne from US$ 2142.50 per tonne. The LME aluminium opening stock decreased from 1379325 tonnes to 1372475 tonnes on February 16. Live Warrants totalled 1131850 tonnes, while Cancelled Warrants stood at 240625 tonnes. LME aluminium 3-months Asian Reference Price hovered around...
The owners of Aluchemie, Rio Tinto and Hydro’s strategic review governed that it is not feasible to make the ongoing investments required to pursue the operations of the stand-alone anode production plant in Rotterdam, Netherlands, due to its weak competitive position and challenging market conditions Consequently, anode production at Aluchemie is expected to conclude towards the end of 2021. However, a consultation process with the relevant European works councils and union representatives will now commence on the planned closure. Alf Barrios, CEO, Rio Tinto Aluminium, said: “We have carefully considered options to make Aluchemie competitive, however, the investments required to continue operations are not viable. We recognise this will impact employees and the community, and our focus...
Benchmark aluminium price on London Metal Exchange increased by 0.14 per cent to US$ 2079 per tonne on Monday, February 15, from US$ 2076 per tonne on Friday. As of Monday, February 15, LME aluminium cash (bid) price stands at US$ 2079 per tonne, LME official settlement price stands at US$ 2079 per tonne; 3-months bid price stands at US$2082.50 per tonne, 3-months offer price is US$ 2082.50 per tonne; Dec 22 bid price stands at US$ 2142.50 per tonne, and Dec 22 offer price stands at US$ 2142.50 per tonne. The LME aluminium opening stock stood at 1379325 tonnes. Live Warrants totalled 1137900 tonnes, and Cancelled Warrants were 241425 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 2092 per tonne. SHFE Aluminium Price Trend China market is closed for the Chinese New...
The Norwegian Aluminium company and one of the largest in the world, Hydro has appointed Helena Nonka as Executive Vice President for Corporate Development. Nonka will report to President and CEO Hilde Merete Aasheim and will join the Corporate Management Board. She will sit on the new position from 1 st April 2021, replacing Arvid Moss, who has been acting in this newly established role since mid-2019. Helena Nonka is an experienced executive with a global career spanning more than 20 years in the natural resources industry, professional services, consulting, and academia. Helena Nonka comes from a role as the global head of new business for natural resources at Switzerland-based SGS. From 2007 to 2019, Nonka worked for Rio Tinto, where she held several senior commercial and leadership...
The Qatari Public Shareholding Company, Qatar Aluminium Manufacturing Company (Qamco) has reported a net profit of QR 95 million. The aluminium company has proposed a dividend distribution of QR195.3mn, representing a payout ratio of 206% of 2020’s net earnings, equivalent to 3.5% cash dividend or QR0.035 per share. In 2020, Qamco’s revenue amounted to QR2.2 billion. Sales volumes were marginally higher than in 2019, as its joint venture swiftly shifted the production to standard ingots (SI), as the demand for value-added products and alloys used by various industries declined during the peak of pandemic due to lockdowns and lack of industrial activity. The steering of production volumes rapidly from VAP to SI supported in securing the maximum sales volumes. However, plunge in VAP volumes...
ISAL aluminium smelter in Iceland will expected continue operating with an improved competitive position as Rio Tinto has entered an agreement on an amended power contract. The agreement has been signed with power supplier Landsvirkjun for a more competitive power price and energy flexibility that is mutually beneficial for both ISAL and Landsvirkjun. Rio Tinto Aluminium chief executive Alf Barrios said: “We are pleased to have reached an agreement on a power price that, coupled with improved efficiencies we have delivered at the site, makes ISAL more competitive.” He also said, “This provides a stronger footing to continue operations at the smelter and gives increased security for the team at ISAL, who have been doing an outstanding job in challenging conditions. We will continue to work...
National Aluminium Company Limited (NALCO) increased its aluminium ingot and aluminium products prices for the second consecutive time last week on Saturday, February 13, albeit slower than on February 10. The company’s aluminium ingot price was raised by INR 2,200 per tonne to INR 174,450 - 177,950 per tonne, compared to the hike of INR 4,600 per tonne to INR 172,250 - 175,750 per tonne on February 10. NALCO’s aluminium wire rod price, as of February 13, came in at INR 177,950 - 182,300 per tonne, also up by INR 2,200 per tonne from INR 175,750 - 180,100 per tonne. Aluminium billets price stood at INR 177,900 - 180,550 per tonne against INR 175,700 – 178,350 per tonne on Thursday. NALCO, like any other Indian aluminium producers, links its aluminium ingot and aluminium products prices to...
Benchmark aluminium price on London Metal Exchange slightly increased to US$ 2076 per tonne on Friday, February 12, from US$ 2075.5 per tonne on Thursday. As of Friday, February 12, LME aluminium cash (bid) price stands at US$ 2076 per tonne, LME official settlement price stands at US$ 2076 per tonne; 3-months bid price stands at US$ 2081 per tonne, 3-months offer price is US$ 2081 per tonne; Dec 22 bid price stands at US$ 2141.50 per tonne, and Dec 22 offer price stands at US$ 2141.50 per tonne. The LME aluminium opening stock stood at 1379975 tonnes. Live Warrants totalled 1145200 tonnes, and Cancelled Warrants were 234775 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 2078.50 per tonne. SHFE Aluminium Price Trend China market is closed for the Chinese New Year...
India’s iconic aluminium producer, Bharat Aluminium Co (BALCO) has won the prestigious ‘Golden Peacock Award 2020’. As per the press release on 14 th February 2021, BALCO’s CEO & Director, Abhijit Pati in a virtual ceremony received the Golden Peacock Awards, instituted by the Institute of Directors (IOD). Mr Abhijit Pati expressed his happiness over the win, by saying: “Vedanta’s ethos of ‘Zero Harm, Zero Waste and Zero Discharge’ continues to guide our environmental and social performance. BALCO has effectively optimized and excelled its overall performance through its focused approach to operational excellence practices, innovation, analytics, resource optimizations, waste utilization and its overall impact on local communities.” "Effective management of resources, safety and...
On 12 th February 2021, the National Aluminium Company Limited (NALCO) posted a consolidated profit of INR 239.71 crore for the third quarter (Q3FY21) ended 31 st December’20. The Navratna PSU, under Ministry of Mines, Government of India producing alumina and aluminium, had posted a consolidated loss of INR 33.90 crore in the corresponding quarter previous year. Subsequently, the alumina manufacturer has posted a profit of INR 107.27 crore. The company's consolidated revenue from operations rose 13.9% to INR 2,378.79 crore in the quarter under consideration compared to INR 2,088.35 crore in Q3FY20. However, the net sales of alumina hydrate for Q3 of FY21 was 3.44 lakh tonnes compared to 3.33 lakh tonnes achieved in the corresponding period of the previous year. Aluminium export also...
Benchmark aluminium price on the London Metal Exchange inched up by US$ 5 per tonne or 0.24 per cent on Thursday, February 11. LME aluminium cash (bid) price and LME official settlement price continued to hike for the past one week to reach at US$ 2075.50 per tonne on Thursday, February 11, from US$ 2070.50 per tonne on Wednesday, February 10. 3-months bid price and 3-months offer price came in at US$ 2080.50 per tonne, up by US$ 7.5 per tonne from the previous day. Dec 21 bid price and Dec 21 offer price hovered around US$ 2139.50 per tonne. The LME aluminium opening stock decreased from 1389975 tonnes to 1384625 tonnes on February 11. Live Warrants totalled 1167500 tonnes, while Cancelled Warrants stood at 217125 tonnes. LME aluminium 3-months Asian Reference Price rose to US$ 2072 per...
