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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Vedanta, the globally diversified metal and mining company appointed MK Razdan, the former CEO and editor-in-chief of PTI as a Senior Advisor for the Corporate Communications team. He will be based out of Delhi. Razdan is a well-known name in the industry and has spent over three decades in the industry. Razdan, who has been one of the longest-serving editors with the agency, has also been its Chief Operating Officer. Razdan became PTI’s General Manager in 1995, after serving the organization as its Bureau Chief in its one-member bureaus first in London, then New York. He superannuated subsequently to become PTI’s contractual CEO-cum- Editor-in-Chief. Roma Balwani, Director, Communications & Brand, Vedanta, has welcomed Razdan to 'Team Vedanta' in a tweet on 24 th September’20. Note to...
As updated by Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, declined moderately this week. Inventories stood 716,000 tonnes as of Thursday, 24 September 2020, down 24,000 tonnes from a week ago. The chart below shows the current status of the primary aluminium inventories across China in more details: Primary aluminium stocks in Wuxi and Hangzhou decreased by 17,000 tonnes and 3,000 tonnes from a week ago to 236,000 tonnes and 72,000 tonnes as of Thursday, 24 September 2020. Stocks in Shanghai and Nanhai stood at 123,000 tonnes and 163,000 tonnes, up 1,000 tonnes and 4,000 tonnes. Stocks in Linyi remained unchanged at 6,000 tonnes. Inventories of aluminium in Gongyi and Tianjin stood at 67,000 tonnes and...
The new aluminium price list of Vedanta shows that the company has reduced its aluminium ingot and aluminium product prices further for the second consecutive day, with effect from Thursday, September 24. With the latest cut, Vedanta’s aluminium ingot price is now ranging between INR 144,250 per tonne and INR 157,250 per tonne, down by INR 2,250 per tonne or 1.5 per cent from INR 146,500-159,500 per tonne on September 18. This week Vedanta has increased the cut of its aluminium ingot price by INR 250 per tonne from the previous week in line with the continuous downfall in global aluminium price on the London Metal Exchange. Vedanta, like any other Indian aluminium producers, links its aluminium product prices to the three-month futures of aluminium on London Metal Exchange. Since...
Three-month LME aluminium trended lower on Wednesday, September 23. It closed 1.38% weaker at US$1,754.5 per tonne. As of Wednesday September 23, LME aluminium cash (bid) price stands at US$ 1718.50per tonne, LME official settlement price stands at US$ 1718.50per tonne; 3-months bid price stands at US$ 1759 per tonne, 3-months offer price is US$ 1759 per tonne; Dec 21 bid price stands at US$ 1835 per tonne, and Dec 21 offer price stands at US$ 1835 per tonne. The LME aluminium opening stock stood at 1486175 tonnes. Live Warrants totalled 1230750 tonnes, and Cancelled Warrants were 255425 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 1770.94per tonne. SHFE Aluminium Price Trend Benchmark aluminium price for SHFE decreased to stand at US$ 2046 per tonne on...
According to the Shanghai Metals Market, A00 aluminium ingot price has recorded a sharp downfall of RMB 290 per tonne, the highest since August, to stand at RMB 14,270 per tonne on Thursday, September 24. The average prices are expected to range between RMB 14,250 per tonne and RMB 14,290 per tonne, with spot contract to be traded at a premium price of RMB 210-250 per tonne, up by RMB 110 per tonne from the previous day. SMM believes the change in consumption pattern has affected the aluminium ingot price trend. The consumptions of aluminium in September remained slightly weaker than expectations. Besides, the output has increased with the ramp-up or resumption of production capacity in Sichuan, Yunnan and Inner Mongolia. So, as of mid-September, the domestic primary aluminium operation...
Alba’s Chief Executive Officer Ali Al Baqali was a key speaker at the Virtual International Aluminium Conference 2020 by Fastmarkets. The conference was held from from 21 to 23 September 2020. The session focussed on current issues faced by the aluminium industry including COVID-19 – impacts, actions, expectations; Aluminium fundamentals – macro backdrop, end-use industries; and China and Aluminium supply. Al Baqali also highlighted the company’s response strategy to COVID-19 and lessons learnt, as well as emphasised on its focus in respect to Safety, Efficient Operations and Lean Cost Structure. During the CEO Fireside Chat on 23 September, gave insights on Alba’s approach to sustainability and societal impact. Al Baqali said:“Sustainability is not only about being a green smelter, it is...
Hydro will resume aluminium production at line B at the Husnes primary plant in Norway by the end of November. The decision to restart was delayed earlier this year due to the market collapse caused by the Covid-19 pandemic. Husnes had nearly completed an NOK 1.5 billion upgrade project to restart line B with technology spin-offs from the Karmøy technology pilot to lift operational and environmental performance to world-class standards. “We are very happy to finally bring Husnes line B back in operation, taking advantage of the extensive technology upgrades we have made and allowing our employees and the Husnes community to look toward the future after years of uncertainty,” said Eivind Kallevik, Head of the Primary Metal business. The plant has been running for more than a decade at half...
According to a Reuters report, the metal industry sees no need for a separate platform on the London Metal Exchange (LME) to trade low carbon aluminium. The industry thinks the exchange should focus on services instead that users need more urgently, such as euro-denominated steel contract. Last month, LME outlined its plans for a spot trading platform for low carbon aluminium with a view to support sustainable metal production and sought feedback from the metal industry. A few industry sources, on the condition of anonymity, said the market had the tools needed for consumers willing to pay a premium for sustainable metal. “LME contracts give you a basic price. If you have additional requirements - location, producer, shape of metal, warehouse company - there will be premiums to pay,” a...
Aluminium ingot prices registered a drop across all major markets in China on Wednesday, 23 September 2020. SMM aluminium ingot price recorded a decline of RMB190 per tonne from yesterday. The price now stood at RMB14560 per tonne. The average price is likely to range at RMB14540-14580 per tonne. In Foshan and Wuxi, the price declined by RMB 190 per tonne and RMB 195 per tonne to stand at RMB 14730 per tonne and RMB 14555 per tonne. Their average prices are expected to range within RMB 14710-14750 per tonne and RMB 14540-14570 per tonne. Aluminium prices in Hangzhou and Chongqing came in at RMB 14580 per tonne each, down RMB 190 per tonne and RMB 200 per tonne. Aluminium ingot prices in Shenyang, Tianjin, Linyi, and Gongyi dropped to stand at RMB 14550 per tonne, RMB 14570 per tonne, RMB...
As of Tuesday, September 22, Three-month LME aluminium weakened 0.17 per cent to close at US$ 1,779 per tonne after hitting its lowest in nearly two weeks earlier in the session. LME aluminium cash (bid) price and LME official settlement price decreased from US$ 1752.50 per tonne to US$ 1744 per tonne on Tuesday, September 22. 3-months bid price and 3-months offer price hovered at US$ 1785.50 per tonne, declining from US$ 1793 per tonne. Dec 21 bid price and Dec 21 offer price stood at US$ 1860.50 per tonne. The LME aluminium opening stock further plunged to 1493175 tonnes. Live Warrants stood at 1232750 tonnes, while Cancelled Warrants at 260425 tonnes. LME aluminium 3-months Asian Reference Price came in at US$ 1777.90 per tonne, as of Tuesday, September 22. SHFE Aluminium Price Trend...
In West Europe, primary aluminium production in August 2020 came in at 280,000 tonnes, inching down slightly from 281,000 tonnes in July 2020, according to the data revealed by the International Aluminium Institute. Output in July was 281,000 tonnes, up month-on-month by 3 per cent from 273,000 tonnes. On a year-on-year basis, primary aluminium production in West Europe in August stood down by 2.1 per cent from 286,000 tonnes. Total production in eight months in West Europe came in at 2.23 million tonnes, lower by 3.46 per cent from 2.31 million tonnes during the same period last year. On the other hand, primary aluminium production in East & Central Europe in August stood flat over the month at 349,000 tonnes. In July, the output grew by 9,000 tonnes or 2.65 per cent from 340,000 tonnes...
Africa produced 135,000 tonnes of primary aluminium in August 2020, marking a decrease of 2.88% from 139,000 tonnes in August 2019. The output increased by 1.5% from July 2020’s production of 133,000 tonnes and 3.85% from June 2020’s production of 130,000 tonnes, according to the latest data showed by the International Aluminium Institute (IAI). Africa’s primary aluminium production came in at 1.072 million tonnes in the first eight months of 2020 as compared to 1.099 million tonnes in the first eight months of 2019. This records a decrease of 2.46% or 27,000 tonnes year-on-year. IAI reported that primary aluminium production in Africa came in at 1.643 million tonnes in 2019 as compared to 1.668 million tonnes in 2018. That was down 1.5 per cent year-on-year. Note to readers : AlCircle...
According to the latest data revealed by the International Aluminium Institute (IAI), primary aluminium production in North America dipped by 2,000 tonnes or 0.60 per cent in August 2020, following a rise in the previous month. Output in August stood at 331,000 tonnes, while in July was 333,000 tonnes after rising by 3,000 tonnes or 1 per cent from 330,000 tonnes in June 2020. On a year-on-year calculation, North America’s primary aluminium production in August 2020 stood down by 10,000 tonnes or 3.12 per cent from 321,000 tonnes. In total eight months of the year (January-August), primary aluminium production in North America totalled 2.66 million tonnes, up by 4.31 per cent from 2.55 million tonnes during the same period last year. Primary aluminium production in South America, on the...
The Multi Commodity Exchange of India (MCX) witnessed a total shipping of 30,771 tonnes in aluminium after completion of its August contract delivery cycle. The total delivery of 1,06,814 tonnes recorded in the five base metal contracts viz. Aluminium, Copper, Lead, Nickel and Zinc, which were converted into compulsory delivery contracts in a phased manner since January last year. “MCX has also started the process of Empanelment of domestic refined Lead brands to encourage more domestic consumers and refiners to participate on the Exchange, which has issued eligibility criteria for domestically refined Lead brands to get registered for MCX good delivery. At present, only LME approved brands are accepted,” MCX said. “We have achieved yet another milestone by converting all base metal...
Emirates Global Aluminium, the largest industrial company in the UAE outside oil and gas, has come up with its third annual Sustainability Report, wherein it has all the details of the company’s 2019 environmental, social, and governance performance in the UAE as well the Republic of Guinea. The report has been prepared in accordance with the Global Reporting Initiative (GRI) Standards, the international framework for sustainability reporting. It also meets the reporting and disclosure requirements set by the Aluminium Stewardship Initiative (ASI). According to the report, EGA, in 2019, achieved better safety performance than the average global industry, as measured by the International Aluminium Institute (IAI). There were no fatalities or occupation diseases at any of the EGA sites....
Three-month LME aluminium came off an intraday high of US$1,804 per tonne to end 0.75% lower at US$1,782 per tonne on Monday. As of Monday September 21, LME aluminium cash (bid) price stands at US$ 1752.50 per tonne, LME official settlement price stands at US$ 1752.50per tonne; 3-months bid price stands at US$ 1793 per tonne, 3-months offer price is US$ 1793 per tonne; Dec 21 bid price stands at US$ 1869 per tonne, and Dec 21 offer price stands at US$ 1869 per tonne. The LME aluminium opening stock stood at 1499100 tonnes. Live Warrants totalled 1235750 tonnes, and Cancelled Warrants were 263350 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 1799.66per tonne. SHFE Aluminium Price Trend Benchmark aluminium price for SHFE decreased to stand at US$ 2152 per tonne on...
Global primary aluminium production stood at 5.485 million tonnes in August 2020, with a year-on-year increase of 2.45% from 5.354 million tonnes in August 2019, according to the latest data showed by the International Aluminium Institute (IAI) on Monday, 21 September 2020. On a month-on-month comparison, the output slightly decreased by 0.07% from 5.489 million tonnes. Total primary aluminium production came in at 43.037 million tonnes in the first eight months of 2020, an increase of 1.44% from 42.425 million tonnes in the first eight months of 2019. In Asia ex-China, aluminium production came in at 347,000 tonnes in August, a7.22% decline from 374,000 tonnes in August 2019. On a month-on-month basis, the output marked an increase of 1.17%. In January-August, output came in at 2.738...
According to the Shanghai Metals Market, A00 aluminium ingot price has declined by RMB 40 per tonne on Tuesday, September 22, to stand at RMB 14,750 per tonne, following two consecutive days of rise from RMB 14,590 per tonne to RMB 14,790 per tonne. The average prices are expected to range between RMB 14,730 per tonne and RMB 14,770 per tonne, with spot contract to be traded at a premium price of RMB 90-130 per tonne, down by RMB 10 per tonne from the previous day. In Foshan and Tianjin, A00 aluminium ingot price has plunged by RMB 50 per tonne to RMB 14,920 per tonne and RMB 14,740 per tonne, respectively, while in Chongqing and Wuxi, the price has fallen by RMB 25 per tonne and RMB 20 per tonne to come in at RMB 14,780 per tonne and RMB 14,750 per tonne. In Hangzhou, Shenyang, and...
