According to SMM statistics, as of September 17, aluminium billet inventory in major domestic consumption areas recorded 152,500 tonnes, down 500 tonnes from last Thursday (September 10) and down 5,000 tonnes from this Monday (September 14). The persistent upward trend in inventory since mid-August has shifted slightly, turning into a modest pullback from highs. On a Y-o-Y basis, inventory was approximately 17,500 tonnes higher than the same period in 2025, about 31,000 tonnes higher than 2024, and roughly 61,000 tonnes higher than 2023, with total inventory still at the highest level for the same period over the past four years. From the perspective of warehouse withdrawals, aluminium billet withdrawals during September 7–September 14 recorded 38,900 tonnes, up 2,800 tonnes W-o-W, ending...
Saudi Arabia’s aluminium consumption could climb to as much as 1.8 million tonnes a year by 2030, as the Kingdom ramps up infrastructure and industrial development ahead of the 2034 FIFA World Cup. Ahmad Al-Alshaikh, executive vice president of Maaden’s Aluminum Business Unit, said demand is expected to reach at least 1.6 million tonnes annually by 2030, up from around 1 million tonnes currently. Consumption could potentially double over the next five to seven years, he said. Speaking on the sidelines of the Fastmarkets International Aluminium Conference in Budapest, Al-Alshaikh said construction of 15 new stadiums for the football tournament is helping to support aluminium demand, Reuters reported. Major exhibitions and preparations for the World Cup are also expected to contribute to...
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Three-month LME aluminium edged down 0.94 per cent to close at US$ 2,588.50 per tonne on Tuesday, with open interest losing 12,000 lots to 670,000 lots. LME aluminium cash (bid) price and LME official settlement price decreased by US$ 39.50 per tonne to stand at US$ 2,595.50 per tonne on Tuesday, August 3, following the past four consecutive days of rise. 3-months bid price and 3-months offer price declined from US$ 2,628.50 per tonne to US$ 2,599.50 per tonne. Dec 22 bid price and Dec 22 offer price hovered around US$ 2,566 per tonne, down by US$ 20 per tonne from the previous day. LME aluminium opening stock continued to decrease from 1378575 tonnes to 1371150 tonnes. Live Warrants stood at 831825 tonnes, while Cancelled Warrants came in at 539325 tonnes. LME aluminium 3-months Asian...
The fourth-largest iron ore producer globally with its headquarter in Australia, Fortescue Metals has inked a partnership agreement with a tribal group in New Zealand to evaluate the possibilities of developing a hydrogen project fuelled by renewable energy with the first production as early as 2025. The energy arm of the iron ore exporter, Fortescue Future Industries (FFI) signed the deal with the Murihiku hapu of Ngai Tahu, with the project in the South Island's Southland province subject to a primary assessment process and an investment decision by Fortescue and the New Zealand authorities. The Southernmost region of New Zealand, Southland has surfaced as a potential hydrogen production hub in the country with domestic utilities Meridian Energy and Contact Energy mutually studying the...
Three-month LME aluminium inched up 0.6% to close at US$2,613 per tonne on Monday, 02 August 2021. As of Monday August 2, LME aluminium cash (bid) price stands at US$ 2635 per tonne, LME official settlement price stands at US$ 2635 per tonne; 3-months bid price stands at US$ 2628.50 per tonne, 3-months offer price is US$ 2628.50 per tonne; Dec 22 bid price stands at US$ 2586 per tonne, and Dec 22 offer price stands at US$ 2586 per tonne. The LME aluminium opening stock stood at 1378575 tonnes. Live Warrants totalled 831825 tonnes and Cancelled Warrants were 546750 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 2610.62 per tonne. SHFE Aluminium Price Trend Benchmark aluminium price for SHFE decreased to stand at US$ 3068 per tonne on Tuesday, 03 August, 2021. The...
According to the Shanghai Metals Market, A00 aluminium ingot price in China has further decreased by RMB 30 per tonne on Tuesday, August 3, to stand below RMB 19,800 per tonne. Data shows the price has come in at RMB 19,790 per tonne, with average prices likely to range between RMB 19,770 per tonne and RMB 19,810 per tonne. The spot contract is estimated to be traded at a premium price of RMB 60-20 per tonne. The decline in primary aluminium ingot price has touched upon all the major Chinese cities barring Gongyi, where the price has remained restrained at RMB 19,700 per tonne. Wuxi has seen the sharpest fall of RMB 60 per tonne to come in at RMB 19,770 per tonne, followed by the decline of RMB 55 per tonne in Hangzhou to RMB 19,780 per tonne. In Foshan, Shenyang, Tianjin and Linyi, A00...
Vedanta Aluminium Business purchased 354 million units of solar and non-solar renewable energy primarily from Green Term-Ahead Market (GTAM) at IEX. The renewable energy will be used for its aluminium production unit at Jharsuguda, in Odisha. With this acquisition, Vedanta Aluminium became India’s largest green power purchaser on the Green Market at the Indian Energy Exchange Limited (IEX) platform in Q1 FY 21-22. The company’s procurement of green power units is more than 35% of the green power traded on IEX in Q1 FY22. Rahul Sharma, CEO – Vedanta Aluminium Business said, “Our sustainability imperatives are designed to fulfil our climate impact reduction targets, which are in complete alignment with the goals of Paris Agreement and Nationally Determined Contributions (NDC) submitted by...
Hindalco Industries Limited significantly increased its aluminium ingot and aluminium product prices on Saturday, July 31, which marked the fourth consecutive time of hike. The company’s aluminium ingot price came in at INR 226,500 per tonne, up by INR 5,750 per tonne from INR 220,750 per tonne on July 30. Hindalco’s aluminium wire rod price stood at INR 237,600 per tonne as of July 31, which was also up by INR 5,750 per tonne from INR 229,100 per tonne on July 30. The company’s aluminium billets price was at INR 233,600 per tonne, in comparison with INR 227,850 on the previous day. Hindalco links its aluminium ingot and aluminium product prices to the three-month futures of aluminium on the London Metal Exchange, which jumped by US$67.50 per tonne on July 30 to stand at US$ 2,624 per...
Vedanta has further hiked its aluminium products price by more than 2%. With effect from Saturday, July 31 2021, the prices of some aluminium ingots have come in at INR 227,250-240,250 per tonne, an increase of INR 5,750 per tonne from INR 221,500-234,500- per tonne on July 30. The billets price stands at INR 235,250 per tonne on Saturday, July 31 2021. The price edged higher by 2.51% or INR 5,750 per tonne from INR 229,500 per tonne on July 30. The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The aluminium price stood at US$ 2624 per tonne on July 30, from US$ 2556.5 per tonne on July 29. Vedanta’s aluminium business typically accounts for one-third of the company’s consolidated sales. Vedanta has a...
Aluminium Stewardship Initiative has announced the joining of China Hongqiao Group Company Limited as ASI’s 181 st new Production & Transformation member. China Hongqiao Group Company Limited, developed into the world’s largest aluminium producer in 2015, covers the entire aluminium industry value chain. The company is specialised in thermoelectric, mining, and producing aluminium products. Its diverse product portfolio includes alumina, liquid aluminium alloy, aluminium alloy ingots, rolled and cast aluminium alloy products, aluminium busbar, high precision aluminium plates with foils and new materials. Chen Lie, Director of Industry Research and Investment, said: “As a Chinese enterprise eager to explore global market and cooperation with international community, China Hongqiao is...
Aluminium Bahrain B.S.C. (Alba), the world’s largest aluminium smelter outside China, has reported a year-on-year increase of 665 per cent in Profit to BD92.6 million (US$246.2 million) for the second quarter of 2021, in comparison with a Loss of BD16.4 million (US$43.6 million) during the same period last year. The company also reported a Total Comprehensive Income of BD90.6 million (US$241.1 million) for 2Q2021 versus a Total Comprehensive Loss of BD18.2 million (US$48.4 million) in 2Q2020. For the first half of the year, Alba has reported a Profit of BD144.8 million (US$385 million), up by 1,461 per cent Y-o-Y compared to a Loss of BD10.6 million (US$28.3 million) for the same period in 2020. The revenue generation in H1 2021 was BD672.7 million (US$1,789 million) versus BD520 million...
The global aluminium industry remained enterprising in July 2021. The June quarter financial results revealed that most of the companies in the sector recorded revenue growth due to the global rise in aluminium prices. The positive trend of the market has delivered the industry some extra strength to regain its power following the multi-wave stress of Covid-19. Emirates Global Aluminium (EGA) earmarked the century shipload of bauxite export from the world’s second-largest producing nation, Guinea, since the company’s initiation in August 2019 from its wholly-owned bauxite-mining subsidiary Guinea Alumina Corporation. July 2021 also witnessed Anil Agarwal led Vedanta’s announcement towards the expansion of BALCO aluminium smelter production capacity by 414 kilo-tonnes per annum (KTPA),...
Three-month LME aluminium inched up 0.04 per cent to end at US$ 2,597.50 per tonne on Friday, with open interest increasing 5,575 lots to 676,000 lots, and is expected to trade between US$ 2,570-2,620 per tonne today. LME aluminium cash (bid) price and LME official settlement price soared by US$ 67.50 per tonne to stand at US$ 2,624 per tonne on Friday, July 30. 3-months bid price and 3-months offer price increased from US$ 2,545.50 per tonne to US$ 2,619 per tonne. Dec 22 bid price and Dec 22 offer price climbed by USS$ 60.50 per tonne to US$ 2,571.50 per tonne. LME aluminium opening stock decreased from 1395225 tonnes1387800 tonnes. Live Warrants still remained restrained at 831825 tonnes, while Cancelled Warrants totalled 555975 tonnes. LME aluminium 3-months Asian Reference Price...
The primary aluminium segment remained quite highlighted during the week. The June quarter and H1 2021 results are gradually getting released. In most cases, the results showcase a heavy rise in revenue due to the global surge in aluminium price and the Covid-19 pandemic is the root cause. Anil Agarwal led Indian mining & metal giant, Vedanta reported consolidated net profit attributable to owners of the company at INR 4,224 crore in the June quarter, a growth of 309% from the same period of the previous year on the back of increased revenue. Vedanta’s aluminium business contributed the largest at INR 10,263 crore to the total revenue. Whereas on the other side Rusal, the world's leading aluminium producer, has announced the operating results for the second quarter of 2021, mentioning...
SMM aluminium ingot price witnessed fluctuations over the week. The week started with an increase of RMB 300 per tonne to stand at RMB 19630 per tonne on Monday. The price settled lower at RMB 19450 per tonne and RMB 19370 per tonne on Tuesday July 27 and Wednesday July 28. But the week ended higher at RMB 19850 per tonne on Friday, July 30, up RMB 350 per tonne from Thursday. The price is expected to move within a range of RMB 19830-19870 per tonne. According to the Shanghai Metals Market, China’s social inventories of primary aluminium have continued to fall for the fourth week in a row, ending on Thursday, July 29. Extending the downfall by 51,000 tonnes week-on-week across eight consumption areas, including SHFE warrants, the inventories have come in at 758,000 tonnes. The alumina...
National Aluminium Company Limited (NALCO) has increased its aluminium ingot and aluminium product prices with effect from Wednesday, July 28, following a cut on July 23. The hike has brought in the aluminium ingot price at INR 215,150- 218,650 per tonne, up by INR 3,900 per tonne or 1.85 per cent from INR 211,250-214,750 per tonne on July 23. NALCO’s aluminium wire rod price has also seen a rise of INR 3,900 per tonne with effect from July 28 from INR 213,750-218,100 per tonne to INR 217,650- 222,000 per tonne. NALCO's aluminium billets price has come in at INR 218,600- 221,250 per tonne, in comparison with INR 214,700-217,350 in the previous week. NALCO, like any other Indian aluminium producer, links its aluminium ingot and aluminium product prices to the three-month futures of...
LME aluminium cash (bid) price and LME official settlement price trended up this week by US$ 124.50 per tonne, with one intermittent drop. Starting the week at US$ 7.50 per tonne higher at US$ 2,499.50 per tonne on Monday, July 26, both LME aluminium cash (bid) price and LME official settlement price inched down to US$ 2,497.50 per tonne on July 27. On Wednesday, July 28, the prices exceeded US$ 2,500 per tonne to stand at US$ 2,516 per tonne and further grew on July 29 to US$ 2,556.50 per tonne. To close the week on Friday, July 30, the prices gained US$ 67.50 per tonne to US$ 2,624 per tonne. 3-months bid price and 3-months offer price jumped by US$ 210.50 per tonne through the week. The prices stood at US$ 2,408.50 per tonne on July 26, which increased sharply by US$ 83.50 per tonne on...
Hindalco Industries Limited has increased its aluminium ingot and aluminium product prices for the third time in a row, with effect from Friday, July 30. The company’s aluminium ingot price has come in at INR 220,750 per tonne, gaining INR 2,750 per tonne from the previous day. On July 29, Hindalco sold its aluminium ingot at INR 218,000 per tonne, an increase of INR 2,000 per tonne from July 24. Hindalco’s aluminium wire rod price has also seen a hike of INR 2,750 per tonne from INR 229,100 per tonne on July 29 to INR 231,850 per tonne on July 30. Aluminium billets price is at INR 227,850 per tonne with effect from July 30, in comparison with INR 225,100 per tonne a day ago. Hindalco links its aluminium ingot and aluminium product prices to the three-month futures of aluminium on the...
Three-month LME aluminium closed 2.99 per cent higher at US$ 2,596.50 per tonne on Thursday, with open interest increasing 1,850 lots to 670,000 lots, and is expected to trade between US$ 2,550-2,600 per tonne today. LME aluminium cash (bid) price and LME official settlement price jumped by US$ 40.50 per tonne or 1.61 per cent to stand at US$ 2,556.50 per tonne on Thursday, July 29. 3-months bid price and 3-months offer price increased from US$ 2,504 per tonne to US$ 2,545.50 per tonne. Dec 22 bid price and Dec 22 offer price surged by USS$ 31 per tonne to US$ 2,511 per tonne. LME aluminium opening stock declined from 1401500 tonnes to 1395225 tonnes. Live Warrants still remained restrained at 831825 tonnes, while Cancelled Warrants totalled 563400 tonnes. LME aluminium 3-months Asian...
A00 aluminium ingot price in China has extended its growth by RMB 350 per tonne to end the week on Friday, July 30, at RMB 19,850 per tonne, found the Shanghai Metals Market. The average prices are expected to range between RMB 19,830 per tonne and RMB 19,870 per tonne, with spot contract to be traded at a premium price of RMB 60-20 per tonne. Gongyi, Foshan, and Hangzhou have also witnessed a hike of RMB 350 per tonne to RMB 19,730 per tonne, RMB 19,950 per tonne, and RMB 19,865 per tonne, respectively. In Wuxi, primary aluminium ingot price has surged by RMB 345 per tonne to RMB 19,860 per tonne, while the price in Linyi and Chongqing has climbed by RMB 330 per tonne and RMB 325 per tonne to stand at RMB 19,800 per tonne and RMB 19,835 per tonne. In Shenyang and Tianjin, A00 aluminium...
