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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Aluminium Bahrain (Alba) has inked a Memorandum of Understanding (MoU) with University of Bahrain (UoB). This will help boost cooperation between the two entities in various areas of research and academic programmes. Alba’s CEO Mr. Ali Al Baqali said: “This MoU is an extension of the collective initiatives over the years between Alba and UoB in different fields. This national partnership is set to enhance our joint efforts to invest in the Human Capital and accordingly build the capabilities of Bahraini nationals in line with Bahrain Economic Vision 2030.” In addition to developing academic programmes to support the industrial sector in Bahrain, this MoU will accelerate various research projects as well as enable higher education students to conduct research and studies which will add...
The United States decision to withdraw the 10% tariff on Canadian aluminium import has been commended by many industry groups and associations, but the confusion which remains on is the import volume benchmark by the United States Trade Representative’s office in place of the tariff. On 18 th September’20, The Aluminum Association said it supported tariff- and quota-free trade within North America and was reaching out to the USTR to clarify details regarding the import target levels. It remains unclear exactly how this system might be implemented or enforced, and Canada has indicated that it did not agree to any import controls or quotas. The USTR said: “It expects shipments of non-alloyed, unwrought aluminium from Canada to be no greater than 83,000 tonnes for September, 70,000 tonnes...
As of Friday, September 18, three-month LME aluminium increased 0.81 per cent to close at US$ 1,795.5 per tonne in choppy trading and is likely to fluctuate range-bound in the short term. LME aluminium cash (bid) price and LME official settlement price stood at US$ 1745 per tonne on September 18, growing by US$ 1.50 per tonne from Thursday, September 17. 3-months bid price and 3-months offer price hovered at US$ 1785.50 per tonne, up by US$ 2.50 per tonne from US$ 1783 per tonne on the previous day. Dec 21 bid price and Dec 21 offer price came in at US$ 1862 per tonne. The LME aluminium opening stock declined to 1504175 tonnes. Live Warrants stood at 1245950 tonnes, while Cancelled Warrants at 258225 tonnes. LME aluminium 3-months Asian Reference Price was at US$ 1793.92per tonne, as of...
SMM aluminium ingot price witnessed an upward movement over the week, except Monday and Thursday. The price stood lower at RMB 14580 per tonne on Monday, September 14. But the price increased by RMB 30 per tonne and RMB 70 per tonne to stand at RMB 14610 per tonne and RMB 14680 per tonne on Tuesday and Wednesday. The price ended the week higher at RMB 14780 per tonne, up RMB 190 per tonne from Thursday. According to the Shanghai Metals Market, social inventories of primary aluminium ingots in China have shrunk by 24,000 tonnes this week ending on Thursday, September 17. The inventories across eight major consumption areas in China, including SHFE warrants, to stand at 740,000 tonnes, as of September 17. The aluminium alloy (ADC12) price performed higher over the week. The week started...
Three-month LME aluminium trended down this week during September 14-18 from US$ 1802 per tonne to US$ 1,781 per tonne. Starting the week with a hike of 1.52 per cent to US$ 1,802 per tonne, three-month LME aluminium on Tuesday, September 15, fell 0.47 per cent to settle at US$1,793.5 per tonne. On Wednesday, September 16, it closed further lower at US$ 1,789.50 per tonne, and on Thursday, September 17, at US$ 1,781 per tonne. LME aluminium cash (bid) price and LME official settlement price recorded a mere downfall over the week during September 14-18. The prices began the week with two consecutive days of rises from US$ 1746.50 per tonne to US$ 1749 per tonne on Monday and then to US$ 1767 per tonne on Tuesday, September 15. On Wednesday, September 16, both LME aluminium cash (bid) price...
Cameroon projects to build the Grand Eweng dam with a capacity of 810 MW by 2028 in alliance with the American company Hydromine. The power plant’s output will supply the aluminium sector, part of the Cameroonian population and the rest will be exported to Chad. The Central African nation has just floated the project to build the hydroelectric dam at Grand Eweng with a capacity of 810 MW. The infrastructure is worth an estimated $ 3 billion. It will be built on the Sanaga River, of which it will be the fifth hydroelectric power station and will come into service by 2028. According to Lucas Briger, Vice President of Development and Operations at Hydromine stated the power of the infrastructure will subsequently be increased to 1,000 MW. “The Grand Eweng was originally intended for...
AlCircle Team is fully geared to welcome you all to its first-ever online “ Global Aluminium Expo 2020 ”, where you can exhibit your brand, share success stories, explore new business opportunities, and meet and greet some old and some new customers. In short, welcome to an ideal platform of business development and networking, during the time when travel is a constraint and so is meeting people in person. This event also assures you to be able to gather rich and right information on the current market condition of the aluminium industry in order to help you take right business decision at the time of unprecedented crisis. In this exhibition, you will get an opportunity to rub your shoulders, but virtually, with industry leaders from every walk of the aluminium industry, right from...
Indian mining and metal tycoon Anil Agarwal, who made a fortune acquiring, state-owned companies and revamping them, is drawing up to raise an investment fund targeting turnaround opportunities in the country, as per industry sources. The Founder and chairman of Vedanta Resources Ltd. is working with Centricus Asset Management Ltd. on the plans. They have started approaching potential investors for the proposed India Direct Investment fund, which will buy stakes in government companies being sold as part of the country’s INR 2.1 divestment program. According to the industry source, the fund will also target companies restructuring under India’s bankruptcy regime and it will look at both private and public firms. Agarwal and London-based Centricus plan to contribute as much as 10% of the...
Vedanta has reduced its aluminium ingot price today after hiking the price of the same products by INR 2,000 per tonne on Wednesday. With effect from Friday, 18 September 2020, the prices of some aluminium ingots are in the range of INR 146,500-159,500 per tonne, marking a decline of INR 1,250 per tonne from INR 147,750-160,750 per tonne on Wednesday, 16 September 2020. With the latest decline, Vedanta’ billet now stands at INR 154,500 per tonne on September 18. That was down INR 1,250 per tonne from INR 155,750 per tonne on September 16. 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....
Three-month LME aluminium closed 0.67% lower on Thursday. The price settled at US$1,781 per tonne on Thursday. As of Thursday September 17, LME aluminium cash (bid) price stands at US$ 1743.50 per tonne, LME official settlement price stands at US$ 1743.50 per tonne; 3-months bid price stands at US$ 1783 per tonne, 3-months offer price is US$ 1783 per tonne; Dec 21 bid price stands at US$ 1859.50 per tonne, and Dec 21 offer price stands at US$ 1859.50 per tonne. The LME aluminium opening stock stood at 1506425 tonnes. Live Warrants totalled 1251175 tonnes, and Cancelled Warrants were 255250 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 1782.59 per tonne. SHFE Aluminium Price Trend Benchmark aluminium price for SHFE increased to stand at US$ 2160 per tonne on...
The week-on-week decline in primary aluminium ingots inventories by 24,000 tonnes on Thursday, September 17, has led to a sharp growth in A00 aluminium ingot price on Friday, September 18, found the Shanghai Metals Market. Following a downfall from RMB 14,680 per tonne to RMB 14,590 per tonne on Thursday, the price today has recorded an increase of RMB 190 per tonne to close at RMB 14,780 per tonne, according to SMM data. The average prices are expected to range between RMB 14,760 per tonne and RMB 14,800 per tonne, with spot contract to be traded at a premium price of RMB 110-150 per tonne. Foshan has seen the highest growth in A00 aluminium ingot price today by RMB 220 per tonne to stand at RMB 14,990 per tonne. In Gongyi, the price has increased by RMB 210 per tonne to RMB 14,720 per...
China Hongqiao Group Limited has initiated the first phase of production at a greener aluminium plant in the southwestern province of Yunnan, cutting its reliance on coal-fired power. The news came after a Hongqiao affiliate said this on Thursday, September 17. Hongqiao has been smelting aluminium in the city of Binzhou in Shandong using coal-fired power, but now the move to Yunnan will allow the company to swap coal for cleaner hydropower. The greener aluminium plant is located at Wenshan prefecture, having an annual capacity of 2.03 million tonnes. Hongqiao aims to move about one-third of its aluminium capacity out of Shandong province to the hydropower-rich Yunnan province. The construction of this plant, led by Shandong Weiqiao Pioneering Group, was started in December last year with...
"Honestly, we knew from the start that it was invalid", reacts the President of the National Union of Aluminum Employees of Baie-Comeau, Michel Desbiens, following the decision of the United States to finally withdraw the imposition of tariffs on Canadian aluminium exports. Michel Desbiens said: “The news reassures the union and happy with the outcome. Even if he indicates that the 10% surtax imposed since mid-August did not have time to hurt the Alcoa aluminium smelter in Baie-Comeau, the situation could easily have been different over time.” "When you pay a tax, you certainly have less capital to invest", specifies the one who feared the repercussions on the long-term investments in the plant. The president of the union, which represents some 700 members, is optimistic that the...
According to the Shanghai Metals Market, social inventories of primary aluminium ingots in China have shrunk by 24,000 tonnes this week ending on Thursday, September 17. The inventories have dwindled across eight major consumption areas in China, including SHFE warrants, to stand at 740,000 tonnes, as of September 17. Primary aluminium inventories have declined this week after two consecutive weeks of increase. On last Thursday, September 10, primary aluminium inventories grew by 3,000 tonnes week-on-week to come in at 764,000 tonnes. The chart below indicates the current status of primary aluminium inventories across China in more details: Primary aluminium inventories downfall today has touched upon Nanhai, Gongyi, Tianjin, Hangzhou, and Chongqing. In Nanhai and Gongyi, the inventories...
SMM aluminium ingot price registered a decline after two days of hike. The price edged lower by RMB 90 per tonne to stand at RMB 14590 per tonne on Thursday, 17 September 2020, from Wednesday’s price of RMB 14680 per tonne. The price is expected to range at RMB 14570-14610 per tonne. In Foshan and Wuxi, the price fell by RMB 40 per tonne and RMB 70 per tonne to stand at RMB 14770 per tonne and RMB 14610 per tonne on Thursday, 17 September 2020. Aluminium prices in Hangzhou and Chongqing came in at RMB 14610 per tonne each, down RMB 70 per tonne and RMB 65 per tonne. Aluminium ingot prices in Shenyang, Tianjin, Linyi, and Gongyi dropped to stand at RMB 14575 per tonne, RMB 14620 per tonne, RMB 14680 per tonne, and RMB 14510 per tonne. The aluminium alloy (ADC12) price stood at RMB 14650...
China has performed into a net importer of aluminium and other metals for the third consecutive month in August’20. Since the country’s infrastructure blow-out in 2009 after the financial crisis, this was the first time in 11 years. The drift may boost India’s metals and mining sector which has been staggering under high debt amid volatile earnings. Chinese demand has shown a surging effect on Indian metal companies in the past. After the session of strong demand in 2009 from China, the Nifty Metal index had more than tripled to 4800 in March 2010 within a year. Aluminium companies such as Vedanta, Hindalco, NALCO, etc. are expected to benefit from the current trend in Chinese demand. Steel companies such as JSW Steel, Jindal Steel and Tata Steel have reported a strong jump in exports at...
Difference between the virtual and real world has almost waned over the years due to the increasing influence of digitalisation. The presence and impact of digitalisation have been more so felt during the COVID-19 pandemic when direct human interaction, or for that matter intervention, is limited. Besides the despondent fact that the COVID-19 pandemic has taken a toll on the global economy, it is the pandemic that has further catalysed digital transformation across business models of various industrial sectors, including aluminium, resulting in better digital offerings and adoption. Digitalisation in Aluminium Industry: While going digital is not new to the aluminium industry, the revolutionary transformation that industry is going through in recent times with a large number of smelters...
On Wednesday, September 16, three-month LME aluminium fell from an intraday high of US$ 1,804.50 per tonne to close at an intraday low of US$ 1,789.50 per tonne. It is likely to fluctuate between US$ 1,770-1,820 per tonne today. LME aluminium cash (bid) price and LME official settlement price declined to US$ 1759 per tonne on Wednesday, September 16, following a hike last day from US$ 1749 per tonne to US$ 1767 per tonne. 3-months bid price and 3-months offer price hovered at US$ 1798 per tonne, down from US$ 1806.50 per tonne on September 15. Dec 21 bid price and Dec 21 offer price came in at US$ 1873 per tonne. The LME aluminium opening stock stood at 1510400 tonnes. Live Warrants hovered at 1251175 tonnes, while Cancelled Warrants at 259225 tonnes. LME aluminium 3-months Asian...
