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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According to the latest report from the US Geological Survey, US domestic primary aluminium production was 82,000 tonnes in July 2020. The average daily production stood at 2,650 tonnes, 11% less than that in June 2020 and July 2019. The month-on-month decline was due to the shutdown of the smelter in Ferndale, WA, by Alcoa Corp. Total aluminium recovered from scrap was 268,000 tonnes in July 2020, 8% more than that in June 2020 and 5% less than that in July 2019. Of this, 146,000 tonnes of aluminium was recovered from new scrap and 122,000 tonnes was recovered from old scrap. In July, the average U.S. spot market price of primary aluminium ingot was $0.85 per pound, 7% more than that in June 2020 and 15% less than that in July 2019. Inventories of primary aluminium in LME-approved...
Vedanta Limited has increased its aluminium ingot and aluminium product prices with effect from Tuesday, September 29, following two consecutive declines on September 18 and 24. Vedanta is now selling its aluminium ingot at INR 145,750-158,750 per tonne, up by INR 1,500 per tonne or 1 per cent from INR 144,250-157,250 per tonne on September 24. With the latest hike, Vedanta’s aluminium wire rod price has come in at INR 153,250-160,750 per tonne, higher by INR 1,500 per tonne or 1 per cent than INR 151,750-159,250 per tonne. The company’s billet price is hovering at INR 153,750 per tonne, also up by INR 1,500 per tonne from INR 152,250 per tonne. Vedanta has increased its aluminium ingot and aluminium product prices in line with the rallied aluminium price on the London Metal Exchange....
Japan Aluminium Association said on Monday aluminium industry would aim to reduce CO2 emissions by 78% by 2050 from 2017 levels. Japan's aluminium industry would meet its target by increasing the use of recycled metal to 75% from the current 48%, according to a Reuters report. The aluminium industry targets to increase local demand by 43% to 6.02 million tonnes a year by 2050 from 4.22 million tonnes in 2019. The industry would expand its use in segments including transportation and construction, it said as part of a new long-term vision. "With the new vision, we intended to make a strong impression of the fine characteristics of aluminium such as high environmental performance and show our strong will to boost our presence," Japan Aluminium Association Chairman Ichiro Okamoto told a news...
National Aluminium Company Limited (NALCO) has extended its aluminium ingot and aluminium product price cut two weeks later with effect from September 25. NALCO’s aluminium ingot price is now standing at INR 145,250-148,750 per tonne, down by INR 2,600 per tonne or 1.8 per cent from INR 147,850 – 151,350 per tonne on September 11, 2020. On September 11, NALCO’s aluminium ingot price was decreased by INR 2,200 per tonne or 1.47 per cent from about a month ago. This means NALCO on last Friday increased the cut of its aluminium ingot price by INR 400 per tonne. Since the latest cut, NALCO’s aluminium billets price is ranging between INR 148,700- 151,350 per tonne, INR 2,600 per tonne or 1.7 per cent lower from INR 151,300- 152,800 per tonne. The company’s aluminium wire rod is now being sold...
SMM aluminium ingot price edged higher by RMB 180 per tonne to stand at RMB 14730 per tonne on Tuesday, 29 September 2020, from Monday’s price of RMB 14550 per tonne. This marks the third consecutive rise in aluminium ingot price.The price is expected to range at RMB 14710-14750 per tonne. In Foshan and Wuxi, the price rose by RMB 150 per tonne and RMB 170 per tonne to stand at RMB 14740 per tonne each on Tuesday, 29 September 2020. Aluminium prices in Hangzhou and Chongqing came in at RMB 14760 per tonne and 14705 per tonne, down RMB 130 per tonne and RMB 175 per tonne. Aluminium ingot prices in Shenyang, Tianjin, Linyi, and Gongyi increased to stand at RMB 14710 per tonne, RMB 14690 per tonne, RMB 14760 per tonne, and RMB 14750 per tonne. The aluminium alloy (ADC12) price stood at RMB...
The dollar pulled back from a two-month high against a basket of currencies on Monday, September 28, as equities rallied after four straight weeks of declines ahead of a slew of economic data and political developments in the United States. Three-month LME aluminium settled 1.28 per cent firmer at US$ 1,784.50 per tonne on Monday, and is expected to move between US$ 1,740-1,790 per tonne today. As of Monday, September 28, both LME aluminium cash (bid) price and LME official settlement price increased sharply by US$ 28.50 per tonne to stand at US$ 1737 per tonne. 3-months bid price and 3-months offer price stood at US$ 1772 per tonne, up by US$ 26 per tonne from US$ 1746 per tonne on September 25. Dec 21 bid price and Dec 21 offer price hovered at US$ 1841 per tonne. The LME aluminium...
Aluminium Bahrain (Alba), the world’s largest aluminium smelter ex-China, announced that the company will have a strong finish by meeting its 2020 production target of 1,540,000 metric tonnes despite COVID 19 challenges. Chairman of Alba’s Board of Directors, Shaikh Daij Bin Salman Bin Daij Al Khalifa said:“As we navigate through this unprecedented time, Alba is reforming itself by capitalising on its Safety culture and human assets, increasing its operational resilience and agility, and re-thinking its cost structure. Despite the challenges, we remain committed to have a strong finish by meeting our 2020 Production Target of 1,540,000 metric tonnes.” The company held its Board of Directors’ Meeting virtually for the third quarter on Sunday 27 September 2020. The Board reviewed the...
Three-month LME aluminium strengthened 0.83% to close at US$1,762 per tonne on Friday. The contract is likely to move between US$1,750-1,780 per tonne today. As of Friday September 25, LME aluminium cash (bid) price stands at US$ 1708.50per tonne, LME official settlement price stands at US$ 1708.50per tonne; 3-months bid price stands at US$ 1746 per tonne, 3-months offer price is US$ 1746 per tonne; Dec 21 bid price stands at US$ 1820.50 per tonne, and Dec 21 offer price stands at US$ 1820.50 per tonne. The LME aluminium opening stock stood at 1477175 tonnes. Live Warrants totalled 1218125 tonnes, and Cancelled Warrants were 259050tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 1747.45per tonne. SHFE Aluminium Price Trend Benchmark aluminium price for SHFE...
A00 aluminium ingot price has begun the week on Monday, September 28, by recording a sharp rise of RMB 270 per tonne to RMB 14,550 per tonne, found the Shanghai Metals Market. The primary aluminium ingot price has increased today after three consecutive days of hike from RMB 14,790 per tonne to RMB 14,270 per tonne during September 21-24 and a restraint on September 25. The average primary aluminium ingot prices are expected to range between RMB 14,530 per tonne and RMB 14,570 per tonne, with spot contract to be traded at a premium price of RMB 320-360 per tonne. Hangzhou has seen the highest growth today of RMB 300 per tonne to RMB 14,630 per tonne, following by the increase of RMB 280 per tonne in Linyi to RMB 14,660 per tonne and RMB 270 per tonne in Gongyi and Wuxi to RMB 14,610 per...
The world’s second-largest metal and mining corporation, Rio Tinto communicated that it was willing to continue talks with the Government of New Zealand on extending operations at its Tiwai Point aluminium smelter, as offered by Prime Minister Jacinda Ardern on 28 th September’20. Jacinda Ardern and energy spokesperson Megan Woods announced the plan, with negotiations focused on establishing a fair price for the transmission costs paid to Transpower by the smelter. Kellie Parker, Managing Director, Rio Tinto’s Pacific Operations communicated: “We are always open to continuing conversations that would see fairer costs established for the smelter.” “The on-going uncertainty for our team at Tiwai and the Southland community is very hard but it is encouraging both major parties have now...
The Aluminum industry is predominant in the development of the country, as India is driving pivotal projects like Make in India, 100 Smart Cities, 100 AMRUT Cities, 24-hour uninterrupted power supply, 100% rural electrification, domestic space program, achieving 100 GW solar power generation capacity which is considered as the backbone of an economy and making the nation self-reliant. In the presence of many other industry leaders, Mr Abhijit Pati, CEO & Director, Bharat Aluminium Company (BALCO) expressed his thoughts that “Aluminum sector has capabilities to play a major role in the growth of India”. He said while addressing a webinar as a key speaker at the 24th International Conference on Non- Ferrous Metals- 2020 on the ‘Prospects of Aluminium Industry in India & the challenges faced...
The Sri Lankan Government is to account whether aluminium could be imported as raw material and foster the job market of the country, while saving much foreign currency, stated by Ajith Nivard Cabraal, Money and Capital Market and State Enterprise Reforms State Minister, on 25 th September’20. This observation was made by the state minister in response to a suggestion made by a Sri Lankan MP Mohamed Muzamil. Ajith Nivard Cabraal, said: “I would discuss with President Gotabhaya Rajapaksa and Prime Minister Mahinda Rajapaksa on the matter and additionally to see if the export of aluminium scrap to be prevented allowing the same be used by local manufacturers.” It has been also revealed that a sum of Rs (LKR) 95,723 million is spent on aluminium imports annually. MP Muzzamil said: “Mostly...
National Aluminium Company Limited (NALCO) announced that the company has signed a Memorandum of Understanding (MoU) with Numaligarh Refinery Limited (NRL) for long term supply of CP Coke to ensure raw material security. The MoU was signed on Thursday 24 September 2020. The company will supply Calcined Petroleum Coke (CPC) for a period of 5 years with an annual estimated sale of 40,000 MT. NALCO recently announced its June quarter results. The company reported net profit of INR 16.63 crore in Q1FY21, a decline of 82.99% from INR 97.78 crore in Q1FY20. Revenue stood at INR 1,380.63 crore in Q1FY21. That was down by 33.75% from INR2,084.08 crore last year. EBITDA came in at INR 129.07 crore in Q1FY21. This marked a decrease of 39.79% YoY. The company had recorded EBITDA of INR 214.36 crore...
The Aluminium industry considered one of the toughest to reduce emission sector, need to shift to new technologies using 100% renewable energy and feedstock. A coalition of six Indian industry majors which includes Hindalco Industries signed up an ‘Industry Charter for Near-Zero Emissions by 2050’ in a virtual event at the ongoing Climate Week NYC. As founding Signatories of the Charter, the six industry majors Hindalco Industries, Siemens Energy India, Thermax, Dalmia Cement (Bharat) Ltd, Shell Group of Companies India and Tata Consulting Engineers Ltd have committed towards development of energy efficiency, renewable energy, circular economy across member companies and supply chains; support the transition of India’s COP 21 commitment of carbon intensity reduction to absolute carbon...
Constellium announced that the company will present at the Deutsche Bank 11th Annual Global Industrials & Materials Summit. Jean-Marc Germain, Chief Executive Officer, and Peter Matt, Executive Vice President and Chief Financial Officer, will participate in the virtual Deutsche Bank Global Industrials & Materials Summit on Tuesday, June 9, 2020 at approximately 8:15 a.m. (Eastern Daylight Time). Constellium manufactures innovative and high value-added aluminium products and solutions for aerospace, automotive and packaging markets. On Wednesday, June 3, the company signed a multi-year contract with Airbus for the supply of a broad range of advanced aluminium rolled and extruded products, including wing skin panels, sheets for fuselage panels, and rectangular and pre-machined plates for...
According to a recent report, the London Metal Exchange will add to its aluminium pricing offering a new cash-settled European duty-paid aluminium premium contract settled against Fastmarkets’ benchmark Rotterdam premium. The news came after Alex Shaw, head of product development and research at the LME, announced it officially at the Fastmarkets International Aluminium Conference on Tuesday, September 22. The new contract is schedule to launch in 2021. “We’ve looked to extend [our product offering] with a duty-paid European product, which we are pleased to be launching with Fastmarkets to provide both duty-unpaid and -paid for the European market,” said Shaw. Shaw pointed out that previously LME launched an alumina price in 2019 to provide hedging tools, followed by US and European...
Aluminium ingot prices registered a growth after three days of drop. SMM aluminium ingot price stood at RMB14280 per tonne on Friday, 25 September 2020, up RMB10 per tonne from RMB14270 per tonne on Thursday. The average price is likely to range at RMB14260-14300 per tonne. In Foshan and Hangzhou, the price declined by RMB 20 per tonne each to stand at RMB 14370 per tonne and RMB 14330 per tonne. Their average prices are expected to range within RMB 14350-14390 per tonne and RMB 14310-14350 per tonne. Aluminium prices in Shenyang and Linyi came in at RMB 14320 per tonne and RMB 14380 per tonne, down RMB 10 per tonne and RMB 20 per tonne. Aluminium ingot prices in Gongyi, Wuxi, Chongqing and Tianjin increased to stand at RMB 14340 per tonne, RMB 14300 per tonne, RMB 14310 per tonne, and...
The US dollar traded at a two-month high and was set for a fifth day of gains on Thursday, September 24, as investors sought safety on concerns over economic recovery as coronavirus cases surged in Europe and on US data showed rising unemployment claims. As of Thursday, September 24, both LME aluminium cash (bid) price and LME official settlement price decreased further by US$ 21.5 per tonne to stand at US$ 1697 per tonne. 3-months bid price and 3-months offer price stood at US$ 1735 per tonne, down from US$ 1759 per tonne. Dec 21 bid price and Dec 21 offer price hovered at US$ 1813 per tonne. The LME aluminium opening stock declined to 1482225 tonnes. Live Warrants stood at 1225325 tonnes, while Cancelled Warrants at 256900 tonnes. LME aluminium 3-months Asian Reference Price came in at...
