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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The UAE’s sovereign investor Mubadala Investment Company said it acquired a fresh 2.6% stake in Russian aluminium giant and leading low-carbon aluminium producer En+. Mubadala's total ownership in En+, following the deal now stands at 2.86%, which the investment firm stated on 23rd June 2021. However, the value of the deal is yet to be revealed. Faris Al Mazrui, Head of Mubadala’s Russia & CIS Investment Programme, said: “The Company is a market leader in the clean energy and aluminium sectors and will add value to the Abu Dhabi Company’s portfolio in Russia.” Mubadala Investment Company has an asset base of Dh894 billion ($243.6bn) and it has significant stakes in clean energy company Masdar and one of the globally largest aluminium producer Emirates Global Aluminium. A Moscow Stock...
National Aluminium Company Limited (NALCO) slashed its aluminium ingot and aluminium product prices by INR 6,250 per tonne with effect from June 22. That brought the company’s aluminium ingot price at INR 199,450-202,950 per tonne compared to 205,650-209,150 per tonne on June 11. NALCO’s aluminium ingot price on June 11 had witnessed a rise of INR 4,700 per tonne or 2.3 per cent. With the latest cut, NALCO’s aluminium wire rod price has come in at INR 202,950-207,300 per tonne against INR 209,150-213,500 per tonne on June 11. NALCO is currently selling its aluminium billets price at INR 202,900-205,550 per tonne versus 209,100-211,750 per tonne on the previous day. NALCO, like any other Indian aluminium producer, links its aluminium ingot and aluminium product prices to the three-month...
The world’s largest premium aluminium producer, Emirates Global Aluminium is in discussion with banks to refinance and transpose the terms of a loan of about $6 billion it secured in 2019, as reported on 23rd June 2021 by close references on this matter. The references stated that the UAE based company equally owned by Abu Dhabi state fund Mubadala and the Investment Corporation of Dubai is soliciting to elongate the tenor and lower the pricing of the seven-year loan through a refinancing facility to grab the benefit of low rates. However, the aluminium company said: "EGA is fortunate to have a large relationship bank group who support our business. We are always looking at ways to optimise our financing arrangements.” The fundraising effort comes as borrowers in the Gulf region endeavour...
This week, Hydro CEO Hilde Merete Aasheim, the mayor of Kvinnherad Municipality, and representatives from Industri Energi and Norsk Industri graced Hydro Husnes with their presence to mark the full operation of the plant for the first time in more than a decade. “I have been looking forward to this. Finally, production is back in full swing at Hydro Husnes. Hydropower-based primary aluminum with a world-leading low-carbon footprint is produced here – you should be proud of that,” Aasheim said when she met employees at Hydro Husnes. “Husnes is a symbol of new, greener industrial development in Norway – a modern cornerstone that expand and renews, that plays an important role in the local community in terms of jobs, but also a producer of low-carbon aluminum that plays an important role on...
On 23rd June 2021, the Black Sea Trade and Development Bank (BSTDB), the international financial institution serving the eleven-member founding countries of the Black Sea Economic Cooperation, stated that it is dispensing a $40 million loan for a capital investment programme.to Romanian aluminium producer Alro, which is a part of Vimetco Group. BSTDB said: “The seven-year loan will be used primarily for improving the company’s energy management performance, as well as high value-added production capacity.” The total cost of the project amount to approx. $95 million and also financed by Romanian and international commercial banks. Dmitry Pankin, President of BSTDB said: "Given the positive outlook for the economy, we believe the company will be able to meet increased domestic demand and...
On Tuesday, June 22, China’s state reserves administration said it would publicly auction 100,000 tonnes of non-ferrous metals early next month. In three separate notices, the National Food and Strategic Reserves Administration said that it would auction 20,000 tonnes of copper, 30,000 tonnes of zinc, and 50,000 tonnes of aluminium on July 5-6. Only aluminium processing and manufacturing enterprises will be eligible to bid, and the aluminium they will purchase shall be used for production promptly. It shall not be resold or hoarded, said the administration. The aluminium auction will take place on a site operated by a state-run firm Norinco, while the copper and zinc sales will take place on an online platform belonging to another state-owned miner and metals trader China Minmetals Corp....
Hindalco Industries Limited reduced its aluminium ingot and aluminium product prices for the fourth time in a row with effect from Wednesday, June 22. The company cut its aluminium ingot price by INR 1,500 per tonne to INR 202,250 per tonne on June 22. On June 19, the price stood at INR 203,750 per tonne, reflecting a downfall of INR 3,250 per tonne or 1.57 per cent from INR 207,000 per tonne. With the latest cut, Hindalco’s aluminium wire rod price has come in at INR 213,350 per tonne, also down by INR 1,500 per tonne from INR 214,850 per tonne on June 19. Hindalco is currently selling its aluminium billets price at INR 209,350 per tonne compared to INR 210,850 per tonne on the previous day. Hindalco links its aluminium ingot and aluminium products prices to the three-month futures of...
On 22nd June 2021, Vedanta stated that the coal block which has been allotted would deliver fuel security, enhance power availability and also strengthen the aluminium operations, once it gets fully functional. Vedanta released the statement immediately after it emerged as the successful bidder for the Kuraloi (A) North coal block located in Jharsuguda district, Odisha. The coal block was put up for re-bidding in the second auction of blocks for commercial mining. The company commented in a filing to BSE: “We wish to inform you that Vedanta Ltd has been awarded the Kuraloi (A) North coal block, located in Jharsuguda district, Odisha. Once operational, it will provide fuel security, improve power availability and further strengthen the company's aluminium operations and performance." The...
A00 aluminium ingot price in China has extended its growth by RMB 260 per tonne to come in at RMB 18,770 per tonne on Wednesday, June 23, found the Shanghai Metals Market. On Tuesday, June 22, the price stood at RMB 18,510 per tonne, reflecting an increase of RMB 130 per tonne. The average prices today are expected to range between RMB 18,750 per tonne and RMB 18,790 per tonne, with spot contract to be traded at a premium price of RMB 10-30 per tonne. In Linyi, A00 aluminium ingot price has surged by RMB 270 per tonne to close at RMB 18,780 per tonne, followed by the increase of RMB 265 per tonne and RMB 260 per tonne to come in at RMB 18,775 per tonne and RMB 18,750 per tonne, respectively. In Hangzhou and Chongqing, primary aluminium ingot price has hiked by RMB 255 per tonne and RMB...
Three-month LME aluminium rose 1 per cent to close at US$ 2,426 per tonne last night, with open interest down 4,002 lots to 696,000 lots, and is expected to trade between US$ 2,400-2,460 per tonne today. LME aluminium cash (bid) price and LME official settlement price recorded a rise of US$ 22 per tonne on Tuesday, June 22, to reach at US$ 2,375.50 per tonne. 3-months bid price and 3-months offer price stood at US$ 2,403 per tonne, up by US$ 32.50 per tonne from US$ 2,370.50 per tonne. Dec 22 bid price and Dec 22 offer price increased from US$ 2,366.50 per tonne on June 21 to US$ 2,387 per tonne on June 22. LME aluminium opening stock also grew from 1612900 tonnes to 1623850 tonnes on June 22. Live Warrants totalled 957625 tonnes, while Cancelled Warrants stood at 666225 tonnes. LME...
According to the International Aluminium Institute data, world primary aluminium production in May 2021 rebounded at 5.744 million tonnes, reflecting an increase of 3.63 per cent from 5.543 million tonnes in April. On a year-on-year calculation, world primary aluminium production in May edged 5.78 per cent higher than 5.430 million tonnes. In the first five months of the year, output totalled 27.942 million tonnes, up by 4.35 per cent from 26.777 million tonnes during the same period last year. China, the world’s highest primary aluminium producer, churned out 3.344 million tonnes in May. That was 3.98 per cent up month-on-month from 3.216 million tonnes and 9 per cent year-on=year from 3.068 million tonnes. During January-May, China produced 16.211 million tonnes of primary aluminium in...
According to the Shanghai Metals Market, A00 aluminium ingot price has gained RMB 130 per tonne to close above RMB 18,500 per tonne. On Tuesday, June 22, the price is standing at RMB 18,510 per tonne, with average prices expected to range between RMB 18,490 per tonne and RMB 18,530 per tonne. The spot contract is likely to be traded at a premium price of RMB 10-50 per tonne. In Shenyang, A00 aluminium ingot price has increased the highest by RMB 155 per tonne to settle at RMB 18,510 per tonne on June 22. In Hangzhou, the price has grown by RMB 150 per tonne to RMB 18,530 per tonne, followed by the hike of RMB 135 per tonne in Wuxi to RMB 18,510 per tonne. In Gongyi and Linyi, primary aluminium ingot price has gained RMB 120 per tonne and RMB 110 per tonne to come in at RMB 18,500 per...
Three-month LME aluminium closed 0.69 per cent higher at US$ 2,402 per tonne on Monday, and is expected to trade between US$ 2,380-2,450 per tonne today. LME aluminium cash (bid) price and LME official settlement price opened the week on Monday, June 21, with a further downfall of US$ 20.50 per tonne to close at US$ 2,353.50 per tonne. 3-months bid price and 3-months offer price stood at US$ 2,370.50 per tonne, down by US$ 9.50 per tonne from US$ 2,380 per tonne. Dec 22 bid price and Dec 22 offer price declined from US$ 2,374.50 per tonne on June 18 to US$ 2,366.50 per tonne on June 21. LME aluminium opening stock decreased from 1621325 tonnes to 1612900 tonnes. Live Warrants totalled 1027775 tonnes, while Cancelled Warrants stood at 585125 tonnes. LME aluminium 3-months Asian Reference...
The buzzer is on, the final call is ringing, what are you waiting for? AlCircle warmly welcomes you all to its second virtual event “AlCircle Expo 2021”. This time the list of exhibitors has expanded, and so has the list of sponsors for ‘AlCircle Expo 2021’. More Exhibitors and more Sponsors on board resemble the opportunity for more business networking, meeting more people (virtually), and gathering more knowledge. So, stop thinking more and join the list now to exhibit your brand and indulge in networking. The event will virtually take place on June 29 & 30, from 9 AM to 5 PM GMT. On a happier note, we are euphoric to announce the updated names who have confirmed their participation as exhibitors & sponsors. To feature your name in this list, reach us at events@alcircle.com Following...
Vedanta Aluminium Power and Business, India’s largest producer of aluminium and aluminium value-added products, has given a 200-bedded state-of-the-art COVID Hospital to the people of Odisha for timely and proper treatment to the critically ailing patients. Odisha Chief Minister Shri Naveen Patnaik inaugurated the hospital in a virtual ceremony in presence of Vedanta Chairman Mr Anil Agarwal and Deputy CEO Mr Rahul Sharma. The hospital has been funded by Vedanta and will be managed by the Government of Odisha. The hospital is a 200-bedded fully oxygenated facility having 16 Intensive Care Units (ICU) and 16 High Dependency Units (HDU) with ventilator support and a dedicated team of doctors and medical staff to provide medical services to patients. The hospital also has a paediatric ward...
Three-month LME aluminium decreased 4.41 per cent to end at US$ 2,352 per tonne on Thursday night, with open interest losing 1,771 lots to 697,000 lots, and is expected to trade between US$ 2,320-2,420 per tonne today. LME aluminium cash (bid) price and LME official settlement price extended decline for the fourth day in a row by US$ 53.50 per tonne or 2.20 per cent to close at US$ 2,374 per tonne as of Friday, June 18. 3-months bid price and 3-months offer price stood at US$ 2,380 per tonne, down by US$ 27 per tonne from US$ 2,407 per tonne on June 17. Dec 22 bid price and Dec 22 offer price declined from US$ 2,395 per tonne on June 17 to US$ 2,374.50 per tonne on June 18. The LME aluminium opening stock decreased from 1627225 tonnes to 1621325 tonnes. Live Warrants totalled 1039150...
Monday, June 21, marks the fourth consecutive day for the decline in A00 aluminium ingot price in China since the country announced to release about 900,000 tonnes of the metal from state reserves. According to the Shanghai Metals Market, the price has decreased by RMB 170 per tonne to come in at RMB 18,380 per tonne. The average prices are expected to range between RMB 18,360 per tonne and RMB 18,400 per tonne, with spot contract to be traded at a premium price of RMB 10-50 per tonne. In Hangzhou and Shenyang, primary aluminium ingot price has plunged by RMB 185 per tonne to stand at RMB 18,380 per tonne and RMB 18,355 per tonne, while the price in Wuxi has declined by RMB 180 per tonne to come in at RMB 18,375 per tonne. In Chongqing and Linyi, A00 aluminium ingot price has slid by RMB...
Primary aluminium sector saw China’s announcement of releasing 800,000-900,000 tonnes of primary aluminium from its state reserves. LME price ended the week even lower, while SMM aluminium ingot price performed downward. Let's recapitulate some of the top aluminium news from primary aluminium sector. LME aluminium cash (bid) price and LME official settlement price trended down this week during June 14-18 by US$ 130 per tonne. LME aluminium cash (bid) price and LME official settlement price closed the week even lower on Friday, June 18, at US$ 2,374 per tonne. To know more: https://www.alcircle.com/news/lme-aluminium-price-downturned-this-week-to-us2374-t-shfe-price-slid-by-us109-t-to-us2867-t-67616 Aluminium ingot price in China performed lower this week. Aluminium price reduced by RMB...
