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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National Aluminium Company Limited (NALCO) increased its aluminium ingot and aluminium products prices with effect from Friday, June 11, following a cut on June 8. NALCO raised its aluminium ingot price by INR 4,700 per tonne or 2.3 per cent to INR 205,650-209,150 per tonne. On June 8, NALCO’s aluminium ingot price stood at INR 200,950-204,450 per tonne, decreasing by INR 3,400 per tonne from the previous day. NALCO is currently selling its aluminium wire rod at INR 209,150-213,500 per tonne, also up by INR 4,700 per tonne from INR 204,450-208,800 per tonne. NALCO’s aluminium billets price came in at INR 209,100-211,750 per tonne, growing by INR 4,700 per tonne or 2.3 per cent from INR 204,400-207,050 per tonne on June 8. NALCO, like any other Indian aluminium producer, links its...
The world’s largest producer of low-carbon aluminium, En+ Group in conjunction with its metal segment represented by RUSAL has published research showing the vital role low-carbon aluminium will have to play to avoid embedded emissions spiralling under Korea’s Carbon Neutral Strategy. The paper forecasts a boom for the country’s downstream aluminium producers but warns of the need to transition to low-carbon sourcing as green industries in Korea increasingly look to align supply chains for products with their climate mission. Illustrating on market data analysis, the paper highlights an expected 20 % rise in aluminium demand in Korea between 2020 and 2025, reaching 1972 kt by the middle of the decade. The significant increase is driven by the rapid growth of carbon-sensitive industries...
According to a recent report, Russian oligarch Oleg Deripaska’s lawsuit against the United States over sanctions imposed on the billionaire has been dismissed by a US judge. The latter reasoned that Deripaska’s claims against Washington’s actions lacked merit. Oleg Deripaska’s global aluminium empire also included Aughinish Alumina. However, in 2018, the Russian billionaire gave up the control over his prized empire expecting the United States to lift restrictions. Washington has lifted sanctions on Mr Deripaska’s two main companies -Rusal and En+Group, but Mr Deripaska himself remains blacklisted by OFAC whose sanctions regime has grown. US District Court Judge Amit Mehta wrote on Sunday night that Mr Deripaska failed to make an eloquent case against the US Treasury Department and its...
Vedanta Limited has further increased its aluminium ingot and aluminium products prices for the fifth time in a row, with effect from Tuesday, June 15. Vedanta’s aluminium ingot price has been raised by INR 1,750 per tonne or 0.80 per cent to INR 211,250-224,250 per tonne as of June 15. On Saturday, June 12, Vedanta’s aluminium ingot price was at INR 209,500-222,500 per tonne, climbing by INR 2,500 per tonne from June 10. With the latest hike, Vedanta’s aluminium wire rod price has come in at INR 218,750-226,250 per tonne, also up by INR 1,750 per tonne from INR 217,000-224,500 per tonne on June 12. Vedanta is selling its aluminium billet at INR 219,250 per tonne with effect from June 15 compared to INR 217,500 per tonne on June 12. Vedanta links its aluminium products and aluminium ingot...
Three-month LME aluminium rose 1.08% to settle at US$2,488.5 per tonne in the overnight trading yesterday, with open interest losing 4,958 lots to 710,000 lots. SMM expects the contract to trade between US$2,440-2,500 per tonne today. As of Monday June 14, LME aluminium cash (bid) price stands at US$ 2504 per tonne, LME official settlement price stands at US$ 2504 per tonne; 3-months bid price stands at US$ 2478 per tonne, 3-months offer price is US$ 2478 per tonne; Dec 22 bid price stands at US$ 2456.50 per tonne, and Dec 22 offer price stands at US$ 2456.50 per tonne. The LME aluminium opening stock stood at 1652850 tonnes. Live Warrants totalled 1099250 tonnes, and Cancelled Warrants were 553600 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 2470.97per tonne....
The former Indonesian National Board for Disaster Management (BNPB) chief Doni Monardo, and who is also a retired Army Lieutenant General of the Indonesian National Armed Forces (Indoneisan National Military), has been appointed as President Commissioner of state-owned, PT Indonesia Asahan Aluminium (Inalum) specialized in aluminium smelting. Doni Morando is replacing Agus Tjahajana Wirakusumah, who has been named President Commissioner of state-owned Indonesia Battery Corporation (IBC). The retired Army Lieutenant General’s dynamic encouragement towards the environment was adduced as the rationale for his appointment. On 11th June 2021, Erick Thohir, Minister of State-Owned Enterprises (SOEs), said: “His concern for and his work in environmental restoration make him the appropriate...
According to a report last week, China is preparing to release 800,000-900,000 tonnes of primary aluminium from its state reserves in early July to ease the incessant hike of the metal price. The news came after consultancy CRU said in a note to clients. Shanghai primary aluminium price is presently up by almost 20 per cent in 2021 amid a strong rebound in demand from the COVID-19 outbreak. It touched a decade high of RMB 20,435 per tonne on May 10. The amount of metal that China is considering to release is higher than 500,000 tonnes that once China planned to release some point this year. However, 900,000 tonnes is only one-quarter of China’s recent monthly production levels. “The stock releases could […] offset some of the shortages caused by imposed curtailments in Yunnan and Inner...
The New Zealand Government countered choking up more than $10 million to dispose of 10,000 tonnes of perilous waste from the banks of the Mataura River in Southland. However, the Rio Tinto owned Tiwai Point Aluminium Smelter Company said it will never demand money. The freshly released documents exhibit that NZAS would only concur to store the Mataura river banks waste back at Tiwai Point if, only the New Zealand Government deliver a guarantee, or indemnity, to cover unforeseen costs, for example having to store it for longer than expected if it could not be exported easily. In January 2021, Grant Robertson, Finance Minister said: "New Zealand Aluminium Smelters have advised that they are unwilling to agree to provide the storage services without an indemnity.” "The total maximum value of...
LME aluminium benchmark price grew 0.81 per cent on Friday, June 11. On the previous day, the price stood at US$ 2,470 per tonne, gaining 0.45 per cent from the previous day. On Friday, June 11, LME aluminium cash (bid) price and LME official settlement price increased for the sixth day in a row by US$ 20 per tonne to settle at US$ 2,490 per tonne. 3-months bid price and 3-months offer price grew by US$ 30 per tonne to come in at US$ 2,477.50 per tonne. Dec 22 bid price and Dec 22 offer price stood at US$ 2,445.50 per tonne, up by US$ 22.50 per tonne from US$ 2,423 per tonne on June 10. LME aluminium opening stock decreased from 1640500 tonnes on June 10 to 1663150 tonnes on June 11. Live Warrants totalled 1096175 tonnes, while Cancelled Warrants stood at 566975 tonnes. LME aluminium...
On 13th June 2021, Aluminium Bahrain B.S.C. (Alba) initiated its first-of-its-kind Campaign ‘Achieving the Balance’ that emphasis on Environment, Social and Governance (ESG) matters. Alba joins its peers in the GCC to mark the ESG Week under the umbrella of the Gulf Aluminium Council (GAC) with the launch of this campaign. Alba’s ESG Campaign ‘Achieving the Balance’ will be held virtually until 17th June 2021 and focus on its sustainable initiatives that are sequenced with Bahrain’s Economic Vision 2030. Ali Al Baqali, Alba’s Chief Executive Officer, while speaking about the ESG campaign said: “Global challenges such as Climate Change, Environment Conservation, Clean Energy and COVID-19 pandemic have prompted a sense of urgency to rebalance ESG matters.” “In Alba, we want to be the ESG...
This week during June 7-11 has been eventful for the primary aluminium market as well as for AlCircle as the latter could announce the first set of confirmed participants for the upcoming AlCircle Expo 2021. Coming to the market news, Chinese aluminium giant Chinalco announced its aim of bringing the group’s carbon emissions to a peak before 2025. What else? A00 aluminium ingot price in China trended up this week from RMB 18,530 per tonne to RMB 18,830 per tonne, and so the global aluminium benchmark price on the LME from US$ 2,417.50 per tonne to US$ 2,470 per tonne. Without any further ado, let us now quickly recapitulate all the major happenings in the primary aluminium market this week. From June 7 to June 10, both LME aluminium cash (bid) price and LME official settlement price...
On 11th June 2021, the largest producer of low-carbon aluminium and biggest independent renewable energy generator, En+ Group announced that Executive Chairman Lord Barker of Battle has been appointed Co-Chair of the Carbon Pricing Leadership Coalition (CPLC). The Carbon Pricing Leadership Coalition, administered by World Bank Group, is a voluntary partnership, working to catalyse action towards the successful implementation of universal carbon pricing with the common goal of limiting atmospheric carbon emissions and reducing the effects of climate change. In 2015, on the opening day of the Paris Climate Conference (COP21), the Coalition was launched and brings together more than 300 members, including 34 governments, 172 global companies and 100 strategic partners representing a...
The iconic aluminium producer of India, Bharat Aluminium Company (BALCO) is a strong promoter of leveraging next-generation technology to model its manufacturing process sustainable and reducing carbon footprint. BALCO has reduced its power consumption in its ‘potline 1’ at its aluminium smelter in Korba, Chhattisgarh to 12,862 KWH/MT which is at par with global standards. This potline ranks as the best performing amongst potlines in India and the Gulf countries in terms of specific power consumption and has thus lowered its carbon footprint significantly. A smelter is a plant where aluminium is produced through the process of smelting, which involves extracting it from its oxide, alumina. A potline is a long building, or collection of buildings, which contain a series of “pots”, or large...
Three-month LME aluminium closed 1.08% higher at US$2,478 per tonne in the overnight trading, with open interest down 4,367 lots to 713,000 lots. SMM expects the contract to trade between US$2,440-2,500 per tonne today. As of Thursday, June 10, LME aluminium cash (bid) price stands at US$ 2470 per tonne, LME official settlement price stands at US$ 2470 per tonne; 3-months bid price stands at US$ 2447.50 per tonne, 3-months offer price is US$ 2447.50 per tonne; Dec 22 bid price stands at US$ 2423 per tonne, and Dec 22 offer price stands at US$ 2423 per tonne. The LME aluminium opening stock stood at 1640500 tonnes. Live Warrants totalled 1063850 tonnes, and Cancelled Warrants were 576650 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 2450.40 per tonne. SHFE...
A00 aluminium ingot price in China has jumped by RMB 320 per tonne, marking the third consecutive day of hike. According to the Shanghai Metals Market data, the surge on Friday, June 11, has brought the primary aluminium ingot price at RMB 18,830 per tonne. The average prices are expected to range between RMB 18,810 per tonne and RMB 18,850 per tonne, with spot contract likely to be traded at a premium price of RMB 30-10 per tonne. In Wuxi, Hangzhou, and Shenyang, A00 aluminium ingot price has surged by RMB 320 per tonne to come in at RMB 18,845 per tonne, RMB 18,855 per tonne, and RMB 18,810 per tonne, respectively. The price in Gongyi, Chongqing, and Tianjin has increased by RMB 300 per tonne to RMB 18,830 per tonne, RMB 18,860 per tonne, and RMB 18,810 per tonne, while Foshan and Linyi...
Primary aluminium inventories in China have extended decline this week, ending on Thursday, June 10, 2021, found the Shanghai Metals Market. Primary aluminium inventories have plunged by 35,000 tonnes or 3.67 per cent across eight major consumption areas, including SHFE warrants, to stand at 919,000 tonnes. Last week on June 3, China’s primary aluminium inventories stood at 954,000 tonnes, reflecting a downfall of 8,000 tonnes from its previous week. The chart below indicates the current status of primary aluminium inventories across China in more details: In Wuxi, primary aluminium inventories have seen the highest decline of 18,000 tonnes to 364,000 tonnes, followed by a fall of 13,000 tonnes in Nanhai to stand at 232,000 tonnes. In Gongyi, primary aluminium inventories have decreased...
China’s primary aluminium production climbed month-on-month to stand 2.15 per cent higher in May 2021, found the Shanghai Metals Market. According to the data, the output in May (31 production days) stood at 3.32 million tonnes against 3.25 million tonnes in April (30 days). On a year-on-year calculation, production in May stood 7.95 per cent higher. Total output during January-May amounted to 16.25 million tonnes, reflecting an increase of 8.3 per cent year-on-year. Yunnan’s electricity curtailment policy resulted in a reduction of 865,000 tonnes of annual production capacity in the province. In Inner Mongolia, around 130,000 tonnes of production capacity was reduced as dual control of energy consumption became stricter. On the other hand, new capacity started. Gansu Zhongrui witnessed...
Vedanta has further expanded its aluminium products price by nearly 1%. With effect from Thursday, 10 June 2021, the prices of some aluminium ingots have climbed by INR 2,000 per tonne to stand at INR 207,000-220,000 per tonne, from INR 205,000-218,000- per tonne on June 9. The billets price stands at INR 215,000 per tonne on Thursday, 10 June 2021. This marked a hike of INR 2,000 per tonne or 0.94% from INR 213,000 per tonne on June 9. The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The aluminium price on stood at US$ 2459 per tonne on Wednesday, June 9, up US$ 20 per tonne from US$ 2439 per tonne on June 8. Vedanta’s aluminium business typically accounts for one-third of the company’s consolidated...
