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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SIMEC Energy, a subsidiary of GFG Alliance, has signed an agreement with IGNIS, a developer of large renewable energy projects in Spain, to develop one of Spain’s largest renewable energy programmes for energy intensive industries. The partnership will work towards the development of renewable energy programmes, with around 1.2GW generated from wind and solar energy to be operational by 2023. SIMEC, which has around 600MW of existing capacity, is developing a further 2GW of renewable energy plants, including a 280MW capacity solar farm in South Australia, a 160MW onshore wind farm in Scotland and a cutting edge end-of-life waste to energy facility in Wales. IGNIS currently maintains a 725MW solar farm in Aragón, operates and delivers energy management services to 2.7GWs of power...
Benchmark aluminium price on the London Metal Exchange stood lower by 0.64 per cent at US$ 1705 per tonne on Friday, October 2, from US$ 1716 per tonne on Thursday. As of Friday, both LME aluminium cash (bid) price and LME official settlement price declined for the third consecutive day from US$ 1716 per tonne to US$ 1705 per tonne. 3-months bid price and 3-months offer price stood at US$ 1740 per tonne, down by US$ 14 per tonne from US$ 1754 per tonne. Dec 21 bid price and Dec 21 offer price hovered at US$ 1813 per tonne. The LME aluminium opening stock declined from 1450950 tonnes to 1444275 tonnes. Live Warrants stood at 1195825 tonnes, while Cancelled Warrants at 248450 tonnes. LME aluminium 3-months Asian Reference Price came in at US$ 1731.11 per tonne, as of Friday, October 2. SHFE...
The 1200-MW capacity Captive Power Plant of Nalco in Angul has failed several times for the last few days, causing a blackout situation and the supply of electricity is highly interrupted, as all the eight units malfunctioned. The Navratna CPSE Company under Ministry of Mines, Government of India, has reported that its production of aluminium has been affected. At least 80 pots of the Nalco's smelter plant here have gone down as power supplies from its captive power plant (CPP) and the State grid have been disrupted owing to technical failures. Nalco has a total of 960 pots. Electricity failure during the last few days has raised many question marks on the Nalco's power backup system. The potlines consist of 4 lines with 240 pots in each. It is calculated that approximately 11 tonnes of...
Three-month LME aluminium settled 1.28 per cent firmer at US$ 1784.50 per tonne on Monday, but ended 0.34% lower at US$1,778.5 per tonne on the very next day. LME aluminium cash (bid) price and LME official settlement price started the week on Monday, September 28, at US$ 1737 per tonne, increasing by US$ 28.50 per tonne from the previous day. Extending the hike on Tuesday, September 29, both the prices came in at US$ 1746 per tonne. On Wednesday, September 30, the prices declined to US$ 1737 per tonne, and further to US$ 1716 per tonne on Thursday, October 1. On Friday, October 2, both LME aluminium cash (bid) price and LME official settlement price continued to fall to stand at US$ 1705 per tonne. This shows the LME aluminium prices recorded downtrend over the week by US$ 32 per tonne....
SMM aluminium ingot price started the week with an increase of RMB 270 per tonne and RMB 180 per tonne on Monday and Tuesday. The price stood at RMB 14550 per tonne and RMB 14730 per tonne on September 28 and September 29. Ingot price ended RMB 50 per tonne lower at RMB 14680 per tonne after Wednesday’s closing. China market is closed for the National Day and Mid-Autumn Festival holidays from October 1 to October 8, 2020. According to the Shanghai Metals Market, primary aluminium inventories in China declined by 61,000 tonnes week-on-week across eight major consumption areas, including SHFE warrants, to stand at 655,000 tonnes, as of Wednesday, September 30. This sharp fall could be attributed to the increase in purchases by the downstream sector before the week-long Chinese National...
Vedanta has reduced its aluminium ingot price today after hiking the price of the same products by INR 1,500 per tonne on September 29. With effect from Friday, 02 October 2020, the prices of some aluminium ingots are in the range of INR 143,500-156,500 per tonne, marking a decline of INR 2,250 per tonne from INR 145,750-158,750 per tonne on 29 September 2020. With the latest decline, Vedanta’ billet now stands at INR 151,500 per tonne on October 2, down INR 2,250 per tonne from INR 153,750 per tonne on September 29. 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 Limited cuts its...
Benchmark aluminium price on London Metal Exchange dropped 1.21 per cent to US$ 1716 per tonne on Thursday, October 1, from US$ 1737 per tonne on Wednesday. As of Thursday October 1, LME aluminium cash (bid) price stands at US$ 1716 per tonne, LME official settlement price stands at US$ 1716 per tonne; 3-months bid price stands at US$ 1754 per tonne, 3-months offer price is US$ 1754 per tonne; Dec 21 bid price stands at US$ 1826 per tonne, and Dec 21 offer price stands at US$ 1826 per tonne. The LME aluminium opening stock stood at 1450950 tonnes. Live Warrants totalled 1196825 tonnes, and Cancelled Warrants were 254125 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 1762.52 per tonne. SHFE Aluminium Price Trend China market and the Shanghai Futures Exchange (SHFE)...
China’s Ministry of Ecology and Environment (MEE) has alleged the state-run Aluminium Corp of China (Chinalco) for repeatedly violating environmental regulations at a plant in Guangxi. A week earlier, a central government environmental inspection team found that affiliates of the Chinalco subsidiary Guangxi Nonferrous Rare Earth Development Co Ltd seriously violated environmental norms, resulting in polluting the surrounding area. The inspection team discovered the subsidiary was running outdated and illegal facilities for producing above and beyond the amount of nonferrous ore allowed by law. “The inspection found […] obvious problems of legal violations, chaotic environmental management and relatively large environmental risks at the Guangxi rare earth company,” the ministry said in a...
National Aluminium Company Limited (NALCO) has raised its aluminium products price after declining it for the second time in a row. With effect from Wednesday, 30 September 2020, NALCO's aluminium ingots price stood at INR 149,050 – 152,550 per tonne, marking a growth of INR 3,800 from INR 145,250-148,750 per tonne on September 25. The company is selling its aluminium billets at INR 152,500- 155,150 per tonne on September 30, up from INR 148,700- 151,350 per tonne on September 25. NALCO aluminium wire rods price came in at INR 152,550-156,350 per tonne as of September 30. 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 in 2020 due to slower global demand...
The Indian Aluminium giant Vedanta Aluminium Ltd’s proposal to expand its aluminium smelter plant in Odisha’s Jharsuguda district saw multiple twists and turns on 29 th -30 th September’20. Notwithstanding, the final decision has been deferred until 5 th October, while Vedanta being permitted to participate in the hearing. Initially, the Odisha High Court first issued a stay order on a notification issued by the Odisha State Pollution Control Board (OSPCB) for the public hearing in Jharsuguda on 29 th September. On 30 th September, the High Court permitted the public hearing to take place by relaxing the stay, which was done via video conferencing. In its hearing via video conferencing, the court stated that no one appeared for the state government as well as the OSPCB, probably due to...
National Aluminium Company Limited (NALCO) held its 39th Annual General Meeting on the virtual platform on Wednesday. Sridhar Patra, CMD, NALCO, said, “Year 2019-20 has been a year of mixed results for the company. In spite of an extremely challenging business environment, coupled with slump in prices and onset of COVID 19 pandemic in the last quarter of the year, we have made exemplary contribution in promoting and putting focus on plant, production, productivity and people”. “Sustainability has now become a part of NALCO’s key business processes. The year was a testimony to NALCO being a partner in progress in promoting inclusive growth as an industry leader and spreading happiness amongst people”. Speaking on highlights of the company, Sridhar Patra said the company’s Panchapatmali...
LME aluminium price decreased on Wednesday, September 30, to US$ 1737 per tonne after three consecutive days of hike US$ 1697 per tonne to US$ 1746 per tonne. As of Wednesday, September 30, both LME aluminium cash (bid) price and LME official settlement price again stood at US$ 1737 per tonne decreasing by US$ 9 per tonne from US$ 1746 per tonne on September 29. 3-months bid price and 3-months offer price came in at US$ 1770.50 per tonne, down by US$ 9.5 per tonne from the previous day. Dec 21 bid price and Dec 21 offer price hovered at US$ 1847 per tonne. The LME aluminium opening stock declined from 1466925 tonnes to 1458900 tonnes. Live Warrants stood at 1196850 tonnes, while Cancelled Warrants at 262050 tonnes. LME aluminium 3-months Asian Reference Price came in at US$ 1768.01per...
Primary aluminium inventories in China have declined by 61,000 tonnes week-on-week across eight major consumption areas, including SHFE warrants, to stand at 655,000 tonnes, as of Wednesday, September 30, according to the Shanghai Metals Market. This sharp fall could be attributed to the increase in purchases by the downstream sector before the week-long Chinese National Holiday starting from October 1, 2020. On last Thursday, September 24, China’s primary aluminium inventories stood at 716,000 tonnes, decreasing by 24,000 tonnes from the previous week. The chart below indicates the current status of primary aluminium inventories across China in more details: In Wuxi, primary aluminium inventories have declined by 30,000 tonnes on September 30 to stand at 206,000 tonnes, while that in...
Alcoa announced that the formal consultation process for San Ciprián aluminum plant in Spain ended without an agreement with the workers’ representatives. The company now have up to 15 days to announce a decision regarding the smelter’s 228,000 tonnes of annual capacity. In August, Alcoa reached an agreement with the workers’ representatives to extend the deadline of the formal consultation period for collective dismissal to September 28, 2020. The agreement includes a process to evaluate a potential sale of the aluminium plant to GFG Alliance. “If a sales agreement is not reached by September 27, 2020, the Company and the workers’ representatives would then meet for one day on September 28, 2020, on the single topic of a social plan that would include government-supported unemployment...
The founder and Chairman of Vedanta Resources Limited, Anil Agarwal is seeking leastwise $5 billion for a fund earmarking companies being sold off by Government of India, as per industry professionals. This is a practised strategy, marking a return that made him wealthy. Mr Agarwal is intending an initial close of $1 billion or more for the proposed India Direct Investment fund, as per our sources; however, the plans are kept very private. He is already exploring for targets and could spend nearly $10 billion on the first few acquisitions. The commodity tycoon is engaged with London-based Centricus Asset Management Ltd. on the fund, which will have a 10-year life span and use a private equity-type strategy. As per the source, he plans to buy companies for over five years and then boost...
A00 aluminium ingot price has recorded a plunge of RMB 50 per tonne to stand at RMB 14,680 per tonne on Wednesday, September 30, following three consecutive hikes from RMB 14,270 per tonne to RMB 14,730 per tonne during September 24-29, found the Shanghai Metals Market. The average prices today are expected to range between RMB 14,660 per tonne and RMB 14,700 per tonne, with spot contract to be traded at a premium price of RMB 240-280 per tonne, down by RMB 30 per tonne from September 29. In Gongyi, A00 aluminium ingot price has declined by RMB 90 per tonne to come in at RMB 14,660 per tonne. In Foshan and Wuxi, the primary aluminium ingot price is also standing at RMB 14,660 per tonne but after declining by RMB 80 per tonne. Hangzhou has also witnessed a fall of RMB 80 per tonne to stand...
Three-month LME aluminium ended 0.34% lower at US$1,778.5 per tonne on Tuesday. Shanghai Metals Market expects the contract to trade between US$1,760-1,790 per tonne today. As of Tuesday September 29, LME aluminium cash (bid) price stands at US$ 1746 per tonne, LME official settlement price stands at US$ 1746 per tonne; 3-months bid price stands at US$ 1780 per tonne, 3-months offer price is US$ 1780 per tonne; Dec 21 bid price stands at US$ 1852.50 per tonne, and Dec 21 offer price stands at US$ 1852.50 per tonne. The LME aluminium opening stock stood at 1466925 tonnes. Live Warrants totalled 1202500 tonnes, and Cancelled Warrants were 264425 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 1775.34 per tonne. SHFE Aluminium Price Trend Benchmark aluminium price for...
Emirates Global Aluminium has adopted specially-designed virtual learning platforms for its employee learning and talent development during the COVID-19 pandemic. At the onset of the pandemic, EGA moved all its workshops and learning circles online in just five weeks, launching a new virtual learning platform called My Learning . The company is using online courses to train its instructors and facilitators as well. EGA has digitised the entire training framework for its National Training programmes, which include both theoretical and practical training for operational and technical roles. The company’s virtual learning platform My Learning provides access to the company’s entire range of courses and modules, covering core skills related to safety and compliance, management and leadership...
