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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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. Last week, on July 22, China’s primary aluminium inventories stood at 809,000 tonnes, declining by 23,000 tonnes from the previous week. The chart below indicates the current status of primary aluminium inventories across China in more details: Among all the major Chinese cities, Wuxi has seen the sharpest decline of 24,000 tonnes to 256,000 tonnes as of July 29, followed by the downfall of 12,000 tonnes in Nanhai to 200,000 tonnes and 10,000 tonnes in Gongyi to...
Three-month LME aluminium closed 1.45 per cent higher at US$ 2,521 per tonne on Wednesday, with open interest decreasing 943 lots to 668,000 lots, and is expected to trade between US$ 2,500-2,550 per tonne today. LME aluminium cash (bid) price and LME official settlement price again exceeded US$ 2,500 per tonne mark to stand at US$ 2,516 per tonne by gaining US$ 18.50 per tonne on Wednesday, July 28. However, 3-months bid price and 3-months offer price rose by US$ 12 per tonne to come in at US$ 2,504 per tonne. Dec 22 bid price and Dec 22 offer price increased from US$ 2,466.50 per tonne to US$ 2,480 per tonne. LME aluminium opening stock continued to decrease from 1408000 tonnes to 1401500 tonne. Live Warrants remained restrained at 831825 tonnes, while Cancelled Warrants totalled 569675...
On 27th July 2021, Emirates Global Aluminium observed the 40th anniversary of its Suggestion Scheme, which motivates employees to share their ideas for operational and technological improvements. As of yesterday, EGA employees have made over half a million suggestions for improvements, delivering cost-savings of some AED 416 million. The Suggestion Scheme of EGA is integral to the organisation’s culture of innovation and continuous improvement that has for decades been a foundation of its growth and success. In the summer of 1981, it was founded by then-Head of Industrial Engineering, Glyn Ashley, and a team of industrial engineers. However, the Suggestion Scheme today remains of the longest-running employee-engagement programmes of its kind in the world. The Suggestion Scheme accumulated...
Three-month LME aluminium closed 0.78 per cent lower at US$ 2,485 per tonne on Tuesday, with open interest increasing 3,728 lots to 669,000 lots, and is expected to trade between US$ 2,470-2,530 per tonne today. LME aluminium cash (bid) price and LME official settlement price inched down by US$ 2 per tonne to stand at US$ 2,497.50 per tonne on Tuesday, July 27, following five consecutive days of hike. However, 3-months bid price and 3-months offer price increased sharply by US$ 83.50 per tonne to come in at US$ 2,492 per tonne. On the other hand, Dec 22 bid price and Dec 22 offer price plunged from US$ 2,489 per tonne to US$ 2,466.50 per tonne. LME aluminium opening stock further decreased to 1408000 tonnes. Live Warrants totalled 831825 tonnes, while Cancelled Warrants closed at 576175...
Vedanta has planned to expand Bharat Aluminium Company’s smelter capacity by 414 kilo-tonnes per annum (KTPA). The expansion involves an investment of INR 6,611 crore over the next two years. ''Vedanta...has announced a major expansion at Bharat Aluminium Company's (Balco) smelter capacity, which will involve an investment of Rs 6,611 crore over the next 18-24 months,'' the company said in a statement. Bharat Aluminium Company (Balco) is a part of Vedanta Group company. Balco will now have total capacity to close to one million tonne. With this investment, the company’s value-added product portfolio will increase to 92 per cent. "Balco''s expansion is a important project for us. We hope to ramp up the smelter capacity over the next 18-24 months. After this expansion, Vedanta''s aluminium...
Rusal, the world's leading aluminium producer, has announced the operating results for the second quarter of 2021, mentioning that its aluminium production totalled 936,000 tonnes. That was up by 0.4 per cent quarter-on-quarter from 932,000 tonnes. Siberian smelters represented 93 per cent of Rusal’s total aluminium output in 2Q2021. In the first half of 2021, Rusal’s aluminium production stood at 1.868 million tonnes, up 0.1 per cent from 1.867 million tonnes a year ago. Bratsk aluminium smelter and Krasnoyarsk aluminium smelter produced 251,000 tonnes and 253,000 tonnes of aluminium, respectively, during 2Q2021. Aluminium sales in 2Q2021 amounted to 1.038 million tonnes- 7.9 per cent higher than 962,000 tonnes in 1Q2021. In the first half of the year, aluminium sales totalled 2 million...
The Greek industrial conglomerate Mytilineos SA owned Aluminium of Greece has committed to switching to green for all of its power requirements from renewable energy by 2030. In a bourse filing, the aluminium metal producer has inked a power supply agreement with Greek utility Public Power Corporation SA, or PPC said and pointed out that this will be the final such contract between the two companies. However, the deal will run from the beginning of July 2021 through the end of 2023. Evangelos G Mytilineos, Chairman and CEO of Mytilineos, said: “For us, after 2023, a new era begins for the historic factory of ‘Aluminum of Greece’, a green and sustainable era, spearheading with national climate goals and the European Green Deal. Mytilineos eyes to reduce outright carbon dioxide emissions of...
Rio Tinto has cut production at its BC Works aluminium smelter in Kitimat, Canada due to a strike initiated by the Unifor Local 2301 union after negotiations failed. The output will be slashed to 35 per cent of the smelter’s 432,000 tonnes annual capacity. Rio Tinto Aluminium managing director Atlantic Operations Samir Cairae said: “Reducing production will have a significant impact on the business and community, but we are committed to taking the necessary steps to operate safely with a reduced workforce. “We have made every effort to reach a mutually beneficial agreement through negotiating in good faith over the past seven weeks, including proposing an independent mediator which was rejected by Unifor Local 2301. “We will continue to look for longer term solutions with the union and...
SMM aluminium ingot price registered a drop after two days of hike. The price stood at RMB 19540 per tonne on Tuesday, July 27 2019, a decline of RMB 90 per tonne from RMB 19630 per tonne on July 26. The price is expected to move within a range of RMB 19520-19560 per tonne today. In Foshan and Wuxi, the price dropped by RMB 90 per tonne and RMB 80 per tonne to stand at RMB 19670 per tonne and RMB 19545 per tonne on Tuesday, July 27, 2021. Aluminium prices in Hangzhou and Chongqing came in at RMB 19550 per tonne each, down RMB 75 per tonne and 130 per tonne. Aluminium ingot prices in Shenyang, Tianjin, Linyi, and Gongyi decreased to stand at RMB 19490 per tonne, RMB 19530 per tonne, RMB 19500 per tonne, and RMB 19400 per tonne on Tuesday, July 27, 2021. The price of aluminium alloy...
Three-month LME aluminium closed 0.16 per cent lower at US$ 2,504 per tonne in the overnight trading yesterday, with open interest decreasing 1,056 lots to 665,000 lots, and is expected to trade between US$ 2,470-2,530 per tonne. LME aluminium cash (bid) price and LME official settlement price continued to grow for the fourth day in a row by US$ 7.50 per tonne to come in at US$ 2,499.50 per tonne on Monday, July 26. 3-months bid price and 3-months offer price climbed by US$ 4.50 per tonne to stand at US$ 2,408.50 per tonne. Dec 22 bid price and Dec 22 offer price grew from US$ 2,482.50 per tonne to US$ 2,489 per tonne. LME aluminium opening stock continued to decrease from 1423525 tonnes to 1416775 tonnes. Live Warrants totalled 845500 tonnes, while Cancelled Warrants closed at 571275...
Metal and mining magnate Anil Agarwal chaired Vedanta Limited 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. The Covid-19 first wave was the worst hit during the same phase last year, which rooted for the Y-o-Y jump in the bottom-line, in the March quarter, the Vedanta’s consolidated bottom-line was at INR 6,432 crore. Vedanta’s top line remained strong at INR 28,105 crore in the June quarter, a surge of 79% from the same period of the previous year. Consecutively, revenues were just a marginal up from INR 27,874 crore in the March quarter. Vedanta aluminium business contributed the largest at INR 10,263 crore to the total revenue...
A00 aluminium ingot price in China has opened the week on Monday, July 26, with a surge of RMB 300 per tonne to come in at RMB 19,630 per tonne. The average prices are expected to range between RMB 19,610 per tonne and RMB 19,650 per tonne, with spot contract to be traded at a premium price of RMB 60-20 per tonne. In Foshan, primary aluminium ingot price has soared by RMB 350 per tonne to stand at RMB 19,760 per tonne, followed by the hike of RMB 330 per tonne in Chongqing to total RMB 19,680 per tonne. In Hangzhou and Gongyi, the price has increased by RMB 295 per tonne and RMB 250 per tonne, respectively, to stand at RMB 19,625 per tonne and 19,480 per tonne. In Linyi and Shenyang, A00 aluminium ingot price has grown by RMB 290 per tonne RMB 270 per tonne to close at RMB 19,600 per...
Three-month LME aluminium rose 1.74% to close at US$2,508.5 per tonne in the overnight trading of last Friday. As of Friday July 23, LME aluminium cash (bid) price stands at US$ 2492per tonne, LME official settlement price stands at US$ 2492 per tonne; 3-months bid price stands at US$ 2504 per tonne, 3-months offer price is US$ 2504 per tonne; Dec 22 bid price stands at US$ 2482.50 per tonne, and Dec 22 offer price stands at US$ 2482.50 per tonne. The LME aluminium opening stock stood at 1423525 tonnes. Live Warrants totalled 852875 tonnes and Cancelled Warrants were 570650 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 2481.35 per tonne. SHFE Aluminium Price Trend Benchmark aluminium price for SHFE increased to stand at US$ 3025 per tonne on Monday, July 26,...
On 25th July 2021, Canada’s largest union in the private sector Unifor stated that about 900 workers had initiated strike action at metal giant Rio Tinto’s operations in the western Canadian province of British Columbia. On 21st July 2021, Unifor issued a 72-hour strike notice almost after seven weeks of pointless discussions over proposed changes to workers’ retirement benefits and unresolved grievances. Jerry Dias, Unifor National President, said: "This strike comes down to Rio Tinto's greed and lack of respect for our hard-working members at the Kitimat smelting facilities. Our union is fully prepared to defend our members' rights and protect good jobs in Kitimat now and in the future." Martin Mcllwrath, Unifor Local 2301 President, said; "Rio Tinto was given every opportunity to reach...
India’s largest aluminium producer, Vedanta has appointed the former CMD NALCO & currently Independent Director of BALCO, Dr Tapan Kumar Chand as Resident Director of Odisha & Chhattisgarh. Dr Chand, an alumnus of the University of Calcutta is renowned as a top mining & metal professional, who is carrying a successful track record of performance in the coal, steel & aluminium sectors. On 23rd July 2021, he has taken over the charge. The high-level appointment of Dr Chand comes at the heels, when Vedanta advancing to emerge as the second-largest producer of aluminium in the world with 3 million tonnes metal aluminium output & 6 million tonnes of alumina capacity. Currently, Vedanta is the largest producer of aluminium in India and with the demand for green metal likely to be twice in the...
Vedanta has raised its aluminium products price by more than 2%. With effect from Saturday, July 24 2021, the prices of some aluminium ingots have risen by INR 4,500 per tonne to stand at INR 216,750-229,750 per tonne, from INR 212,250-225,250- per tonne on July 20. The billets price stands at INR 224,750 per tonne on Saturday, July 24 2021. That marked an increase of INR 4,500 per tonne from INR 220,250 per tonne on July 20. 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$ 2449 per tonne on July 22, from US$ 2432 per tonne on July 21. Vedanta’s aluminium business typically accounts for one-third of the company’s consolidated sales. Vedanta has a stake in Bharat Aluminium...
The world primary aluminium market has been eventful this week right from reporting a hike in the LME aluminium benchmark price to marking five successful decades of the Gulf Aluminium Industry. Both LME aluminium cash (bid) price and LME official settlement price increased this week starting at US$ 2,425 per tonne on July 19. On Tuesday, July 20, the prices inched down marginally by US$ 0.50 per tonne to stand at US$ 2,424.50 per tonne. On Wednesday and Thursday, both the prices grew to US$ 2,432 per tonne and US$ 2,449 per tonne, respectively. To know more: https://www.alcircle.com/news/lme-aluminium-price-grows-for-the-second-day-in-a-row-to-us2449-t-shfe-price-gains-us32-t-to-us2985-t-68898 China’s A00 aluminium price, on the other hand, trended down this week to RMB 19,060 per tonne,...
The Norwegian Aluminium company and renewable energy company and also one of the largest aluminium companies worldwide, Norsk Hydro ASA posted Q2 2021 adjusted EBITDA of NOK 6,598 million, up from NOK 2,794 million in the same quarter previous year. The continued global economic recovery is supporting increased demand for aluminium and aluminium products. Hydro Aluminium Metal and Hydro Extrusions business areas reported record quarterly results. The rise in all-metal prices and volumes in aluminium metal, improved margins and volumes in Extrusions and better results from Hydro Energy contributed positively to adjusted EBITDA. These positive elements were partly offset by higher raw material costs upstream and negative currency effects. The Q2 reflected a continuation of the global...
