Europe's aluminium industry is facing mounting pressure from rising carbon costs, shifting trade policies and limited willingness among buyers to pay premiums for low-carbon metal. Yet, despite a series of crises since the Covid pandemic, producers remain committed to maintaining their presence in Europe and investing in decarbonisation, said Paul Voss, Director General of European Aluminium. In an exclusive interview with Fastmarkets at Aluminium Düsseldorf, Voss described the European aluminium industry's condition as bruised but resilient. He highlighted concerns over the EU Emissions Trading System (ETS), the potential inclusion of indirect (Scope 2) emissions under the Carbon Border Adjustment Mechanism (CBAM) and the treatment of aluminium scrap in carbon accounting. Reflecting on...
The London Metal Exchange (LME) aluminium price graph depicted a faltering market picture. Declines over the November 2 close were reported across the pricing, contract, and inventory segments. The LME alumina Platts price remained stable at the session close. The LME aluminium cash bid as well as offer prices dipped by 0.42 per cent. The bid slipped to USD 3,081 per tonne from USD 3,094 per tonne, while the offer eased to USD 3,082 per tonne from 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 contracted by 0.64 per cent to USD 3,040 per tonne from USD 3,059.5 per tonne. The offer...
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Gregory Barker, executive chairman of EN+, the parent company of Russian aluminium producer Rusal stated carbon disclosure needs to be made mandatory for the aluminium producers promptly. Barker was also very much clear of the fact that low-carbon aluminium futures contract needs to be introduced so that aluminium producers and buyers can better manage their price risks. He also added: “While aluminium has many low carbon applications, from electric cars to sustainable, recyclable packaging, aluminium production itself still contributes over 2% of the world's total emissions and the aluminium sector cannot wait.” "We are very clear. The aluminium industry has to wake up and take climate change seriously. Carbon disclosure needs to be mandatory. The transition to a low carbon economy is...
The US dollar changed against a basket of currencies on Thursday, October 8, as investors waited for fresh news on whether new US fiscal stimulus is likely in the near term. Three-month LME aluminium settled at US$ 1,799 per tonne on Thursday, up US$ 36 per tonne from the closing price on September 30. Market sentiment improved as the effect of easy US monetary policies offset worries about a second wave of coronavirus cases. LME aluminium is likely to fluctuate between US$ 1,780 per tonne and US$ 1,820 per tonne today. As of Thursday, October 8, both LME aluminium cash (bid) price and LME official settlement price jumped from US$ 1745.50 per tonne to US$ 1786 per tonne. 3-months bid price and 3-months offer price stood at US$ 1802 per tonne, up by US$ 29.50 per tonne from US$ 1772.50 per...
Earlier this week, Geoff Matthews, Futurist, Future Aluminium Forum Advisory Board Member and Energy Sector Lead for EnPot Ltd, unveiled the first proposed pathway to zero carbon for primary aluminium production at the Aluminium Online Showcase 'Green Technologies' session. Geoff Matthews said the development of the Pathway was motivated by the International Energy Agency’s June 2020 update for aluminium production. “The IEA gave the aluminium industry fail mark with ‘more effort needed’, and this promoted us to dive more deeply into what a pathway compatible with the IEA’s Sustainable Development Scenario (SDS) would look like,” said Mathews He also said, “We wanted to understand what it would mean for the industry in terms of the technological innovation required, the potential...
Incessant increase in China’s unwrought aluminium imports indicates a rare inversion in normal trade patterns. In August 2020, China imported 393,000 tonnes of primary aluminium and unwrought alloy combined, close to the previous record of 394,000 tonnes in April 2009. It is no coincidence that global financial crisis is the common cause behind the surge in China’s aluminium imports. Last time the global aluminium demand experienced a sort of hit, while now COVID-19 pandemic is the reason. Now, as then, China is recovering faster than the rest of the world. While output outside China is rapidly sliding, China’s smelters are responding by lifting production. So, if the history is repeating, it is likely to lead to a further polarisation of the global aluminium market into two parallel...
National Aluminium Company Limited (NALCO) has reduced its aluminium products price today. With effect from Tuesday, 6 October 2020, NALCO's aluminium ingots price came in at INR 147,450 – 150,950 per tonne, a drop of INR 1,600 per tonne from INR 149,050 – 152,550 per tonne on September 30. The company is selling its aluminium billets at INR 150,900- 153,550 per tonne on October 6, down from INR 152,500- 155,150 per tonne on September 30. Aluminium wire rods price stood at INR 150,950-155,300 per tonne, from152,550-156,350 on September 30. 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 increased by more than 2% so far in 2020. NALCO’s aluminium products and alumina account...
The downfall in Vedanta's production in the first quarter of fiscal 2021 has resulted in a lower production cost (CoP) from $1,764 per tonne during the same period last year to $1,268 per tonne. According to the latest report, Vedanta's alumina production cost dropped by $54 per tonne from the previous quarter, while its power cost fell by $100 per tonne and other hot metal and conversion cost by $40 per tonne. The cost of production in Jharsuguda reduced by 13 per cent quarter-on-quarter while that in BALCO shrunk by 11 per cent. Vedanta's numbers stood higher than were expected in the June quarter. For instance, aluminium EBITDA constituted 72 per cent of the EBITDA beat. The segment’s EBITDA surprised at $360 per tonne, of which $101 per tonne was on account of RPO liability reversal....
According to a recent report, Brazilian aluminium producer Companhia Brasileira de Alumínio (CBA) will continue to seek ‘green funding’ for its low-carbon aluminium initiative. The company this year has already secured 500 million Reais ($90 million) to develop sustainability projects and offer more low-carbon metal, said company executives on October 5. However, the company is cautious about the domestic demand that has seen a hit by the COVID-19 pandemic. Even though the market has recovered at present yet the probability of downfall in the near future after restocking action this year cannot be disregarded. Also, the possibility of a second wave of COVID-19 infection has not been ruled out. Earlier, the fundraising was done through two different contracts with Brazilian banks Bradesco...
Benchmark aluminium price on London Metal Exchange dropped 0.54 per cent to US$ 1745.5 per tonne on Wednesday, October 7, from US$ 1755 per tonne on Tuesday. As of Wednesday October 7, LME aluminium cash (bid) price stands at US$ 1745.50 per tonne, LME official settlement price stands at US$ 1745.50 per tonne; 3-months bid price stands at US$ 1772.50 per tonne, 3-months offer price is US$ 1772.50 per tonne; Dec 21 bid price stands at US$ 1835.50 per tonne, and Dec 21 offer price stands at US$ 1835.50 per tonne. The LME aluminium opening stock stood at 1428475 tonnes. Live Warrants totalled 1119125 tonnes, and Cancelled Warrants were 309350 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 1770 per tonne. SHFE Aluminium Price Trend China market and the Shanghai...
Vedanta, the largest primary aluminium producer of India, has appointed century-old non-ferrous metals, ferroalloys and pig iron trading company Gerli Metalli SPA as a service partner onwards 2021 for the Italian market. Vedanta with its two state-of-art aluminium smelters at Jharsuguda (Odisha) and BALCO in Korba (Chhattisgarh) is producing primary aluminium of 1.95 million tonnes per annum (MTPA) as recorded in FY19, while 50% of its aluminium produced gets exported. A world-class 2 MTPA alumina refinery at Lanjigarh (Odisha) has made Vedanta a premier manufacturer of metallurgical grade alumina for the company's aluminium smelters. An LME member, Gerli Metalli SPA plays a vital role in intermediary between production, trading and distribution to the metal industry. The international...
Welcome to the second and last day of AlCircle’s first-of-its-kind online “ Global Aluminium Expo 2020 .” We are delighted to share the success of Day 1 while expressing our gratitude to all the exhibitors and attendees for gracing the event with your presence. On the first day of the expo, the average footfall for each exhibitor was around 100. The total number of attendees registered for the event by now has exceeded 1000. The expo has started today at 8:00 AM GMT, bringing along the top aluminium industry leaders and enthusiasts. As been said earlier, this virtual expo is for exploring new business opportunities, nurturing new ideas, finding new customers while meet and greet old ones, and inspiring each other during the present test of time. We would be happy to see you all at our...
Benchmark aluminium price on the London Metal Exchange rose by nearly 1 per cent to US$ 1755 per tonne on Tuesday, October 6, from US$ 1741.50 per tonne on Monday. As of Tuesday, both LME aluminium cash (bid) price and LME official settlement price continued to increase for the second day in a row, albeit slower than the previous day, to stand at US$ 1755 per tonne. 3-months bid price and 3-months offer price stood at US$ 1783 per tonne, up by US$ 10 per tonne from US$ 1773 per tonne. Dec 21 bid price and Dec 21 offer price hovered at US$ 1849.50 per tonne. The LME aluminium opening stock extended decline from 1438925 tonnes to 1432650 tonnes. Live Warrants stood at 1126600 tonnes, while Cancelled Warrants at 306050 tonnes. LME aluminium 3-months Asian Reference Price came in at US$...
Hydro’s seven aluminium metal plants have been certified against Aluminium Stewardship Initiative (ASI) Chain of Custody. The sites include Husnes, Norway; Rackwitz, Germany; Deeside, UK; Lucé, France; Azuqueca, Spain; and Henderson, Kentucky, and Commerce, Texas, in the U.S. The Primary Metal Umbrella Certificate already certified Sunndal, Årdal, Høyanger, and Karmøy aluminium plants in Norway and Clervaux in Luxembourg to the ASI Performance Standard and ASI Chain of Custody Standard. “In total, several dozen Hydro sites – from our bauxite mine and alumina refinery in Brazil to aluminium extrusion and rolled products plants in many countries – are ASI-certified, and more site processes are ongoing,” Hydro said. The Aluminium Stewardship Initiative (ASI) is a global, multi-stakeholder,...
The “Global Aluminium Expo 2020”— the virtual event being organised by AlCircle for the aluminium industry, has gone live today at 8:00 AM GMT, bringing together all players of the aluminium value chain under one roof. The Global Aluminium Expo 2020 with more than 900 attendees registered as of now will run till October 7, 2020. As the COVID-19 pandemic is stabilising in some parts of the world, the demand for virtual event continues to rise as physical conferences are still unable to be staged. Keeping that in mind, AlCircle for the first time launched an online “Global Aluminium Expo 2020” to help you reach out to your clients and industry associates to build a stronger network and sustainable business. If you have not registered so far for Global Aluminium Expo 2020 , hurry up and...
Vedanta has raised its aluminium ingot price after declining the price of the same product on October 2. With effect from Tuesday, 06 October 2020, the prices of some aluminium ingots are in the range of INR 145,500-158,500 per tonne, registering a growth of INR 2,000 per tonne from INR 143,500-156,500 per tonne on October 2 2020. With the latest hike, Vedanta’ billet now stands at INR 153,500 per tonne on October 6, up INR 2,000 per tonne from INR 151,500 per tonne on October 2. The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The three-month futures of aluminium are down so far due to slower global demand following the coronavirus outbreak. Vedanta’s aluminium business typically accounts for one-third...
Benchmark aluminium price on London Metal Exchange rose 2.14 per cent to US$ 1741.5 per tonne on Monday, October 5, from US$ 1705 per tonne on Friday. As of Friday October 5, LME aluminium cash (bid) price stands at US$ 1741.50 per tonne, LME official settlement price stands at US$ 1741.50 per tonne; 3-months bid price stands at US$ 1773 per tonne, 3-months offer price is US$ 1773 per tonne; Dec 21 bid price stands at US$ 1845 per tonne, and Dec 21 offer price stands at US$ 1845 per tonne. The LME aluminium opening stock stood at 1438925 tonnes. Live Warrants totalled 1195825 tonnes, and Cancelled Warrants were 243100 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 1760.70 per tonne. SHFE Aluminium Price Trend China market and the Shanghai Futures Exchange (SHFE)...
Aluminium Bahrain B.S.C. (Alba), the world’s largest aluminium smelter ex-China, has received two prestigious awards – Leading Corporate for Investor Relations in Bahrain and Best Investor Relations Professional in Bahrain – at the 2020 Middle East Investor Relations Association (MEIRA) Annual Conference and Awards Ceremony. The ceremony was held virtually on September 22 & 23, 2020. The MEIRA Annual Conference and Awards is one of the largest Investor Relations (IR) events, which recognises the efforts of regionally listed companies and IR professionals for their critical role in shaping the IR landscape. It also recognises locally listed firms, international corporates, investors, research analysts, advisors, and Regulatory bodies to share best practices and discuss market challenges....
Just one more day to go, Alcircle team is ready to welcome you for the first-ever online “Global Aluminium Expo 2020”, a platform where you can share success stories, explore new business opportunities, and meet and greet some old and some new customers. As travel is restraint and so meeting people physically, while thinking of it, we came out with this extraordinary initiative to bring all the aluminium value chain associates under one umbrella for networking and business development; be rest assured, the event will be a source centre to gather the rich and right information on the current market condition of the aluminium industry to help you make the right business decision at the time of unprecedented crisis. GAE 2020 will deliver opportunities to meet the industry leaders’ virtually...
Vedanta Limited announced that it saw a downfall of 23.5 per cent in its quarterly profit ended on June 30, attributing to lower production and demand amid the world’s strictest lockdown due to the COVID-19 pandemic. Billionaire Anil Agarwal’s group’s net income slumped to INR 1,033 crore ($141 million) in the June quarter from INR 1,351 crore during the same period last year, said Vedanta in a statement late Saturday. Sales also plummeted by 25.9 per cent to INR 15,687 crore. Vedanta’s net debt at the end of June was INR 24,787 crore. Vedanta’s main businesses include zinc, aluminium, and oil and gas, all of which have been hit by narrow demand due to the COVID-19 crisis. At present, Agarwal’s London-based Vedanta Resources Limited is in the process of taking Mumbai-listed Vedanta...
