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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Quebec’s political leaders and aluminium industry players wholeheartedly welcomed the US decision of cancelling the 10 per cent tariff on primary aluminium ingots from Canada, according to a report on Tuesday, September 15. “Very good news for the Quebec’s aluminum producers,” tweeted Pierre Fitzgibbon, the province’s economic development minister. He thanked the efforts of the federal government behind successfully coordinating with American legislators and convincing them to scrap the tariff. He pointed out nine of Canada’s ten aluminium smelters, built largely by American investors and manufacture mostly for the American market, are located in Quebec, while the tenth is located in Kitimat, British Columbia. Catherine Loubier, Quebec’s delegate general in New York, and Kirsten Hillman,...
Emirates Global Aluminium announced on Tuesday, September 15, that it resumed hiring young Emirati talent for technical roles through its National Training programmes, following a pause due to the COVID-19 pandemic. Since July, Emirates recruited some 21 young Emiratis as the first batch of new trainees since the start of the pandemic. Emirates’ National Training Programmes have been helping UAE Nationals since 1982 develop their technical skills while allowing them to work in operational areas in EGA’s smelters and power plants. In the new normal life, EGA has adopted online classroom training programmes to educate the new batch both theoretically and practically, ensuring quality learning and well-being of the trainees. Abdulnasser Bin Kalban, EGA’s Chief Executive Officer, said: “We...
Vedanta has hiked its aluminium ingot price today after cutting the price of the same products last week. With effect from Wednesday, 16 September 2020, the prices of some aluminium ingots are in the range of INR 147,750-160,750 per tonne. That is up INR 2,000 per tonne from INR 145,750-158,750 per tonne on Friday, 11 September 2020. With the latest hike, Vedanta’ billet now stands at INR 155,750 per tonne on September 16, an increase of INR 2,000 per tonne from INR 153,750 per tonne on September 11. 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 aluminium Cost...
Three-month LME aluminium fell 0.47% to settle at US$1,793.5 per tonne on Tuesday, after hitting its highest in two weeks at US$1,810.5 per tonne earlier in the session. The contract is likely to move between US$1,770-1,820 per tonne today. As of Tuesday September 15, LME aluminium cash (bid) price stands at US$ 1767per tonne, LME official settlement price stands at US$ 1767per tonne; 3-months bid price stands at US$ 1806.50 per tonne, 3-months offer price is US$ 1806.50 per tonne; Dec 21 bid price stands at US$ 1882 per tonne, and Dec 21 offer price stands at US$ 1882 per tonne. The LME aluminium opening stock stood at 1513925 tonnes. Live Warrants totalled 1255675 tonnes, and Cancelled Warrants were 258250 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$...
According to the Shanghai Metals Market, A00 aluminium ingot price has recorded a hike for the second consecutive day by RMB 70 per tonne to stand at RMB 14,680 per tonne on Wednesday, September 16. The average prices 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 100-140 per tonne. SMM data shows A00 aluminium ingot price has grown the highest in Foshan, Chongqing, and Linyi by RMB 70 per tonne to stand at RMB 14,810 per tonne, RMB 14,675 per tonne, and RMB 14,710 per tonne, respectively, as of September 16. In Wuxi, Shenyang, and Gongyi, the primary aluminium ingot price has surged by RMB 60 per tonne to come in at RMB 14,680 per tonne, RMB 14,665 per tonne, and RMB 14,570 per tonne. In Hangzhou and...
On 15 th September’20, the United States of America declared that it would no longer impose a 10% tariff on Canadian aluminium imports. It has been presumed that following the rise of retaliation from Ottawa, Donald Trump administration has changed its mind. The duty-free treatment will be retroactive to September 1. The Office of the US Trade Representative (USTR), however, has published a list of expected maximum monthly shipments of aluminium and warned it will re-impose the tariff if imports exceed those amounts. USTR said in a statement: "After consultations with the Canadian government, the United States has determined that trade in non-alloyed, unwrought aluminium is likely to normalise in the last four months of 2020, with imports declining sharply from the surges experienced...
Vedanta’s Jharsuguda reiterates its commitment to leverage engineering, technology and innovation to boost India self-reliance in aluminium. The company also aims to fulfil raw material needs of critical sectors. The company targets to work in close collaboration with its technology partners, consultants and customers to lead a globally competitive aluminium industry in the post-pandemic world. CN Singh, CEO – Vedanta Ltd., Jharsuguda said, “Our commitment to emerge as the world’s most preferred aluminium producer is in line with our mission to be India’s partner in progress. Our world-class operations are a sought-after destination for India’s young engineers who want to be enabled and empowered to put their knowledge into action for superlative results. We are especially proud of our...
Aluminium output in China hit a new record high for a second month in August on higher production at smelters and robust demand outlook. According to the National Bureau of Statistics (NBS), aluminium production rose 2.3% month-on-month and 5.5% year-on-year. China produced 3.17 million tonnes of primary aluminium in August, from 3.1 million tonnes in July. Average daily production came in at 102,258 tonnes in August. That was up 2.3% from about 100,000 tonnes in July, according to Reuters calculations based on the NBS data. In the first eight month of 2020, aluminium production stood at 24.3 million tonnes, up 2.3% from same period a year earlier. A new production line with annual capacity at 150,000 tonnes at Henan Shenhuo Group commenced last month. The Group expects to be at full...
SMM aluminium ingot price registered a hike of RMB 30 per tonne to stand at RMB 14610 per tonne on Tuesday, 15 September 2020. The price is expected to range at RMB 14590-14630 per tonne. In Foshan and Wuxi, the price rose by RMB 60 per tonne and RMB 40 per tonne to stand at RMB 14740 per tonne and RMB 14620 per tonne on September 11. Their average prices are expected to range within RMB 14720-14760 per tonne and RMB 14610-14630 per tonne. Aluminium ingot prices in Hangzhou, Chongqing, Shenyang, Tianjin, Linyi, and Gongyi increased to stand at RMB 14630 per tonne, RMB 14605 per tonne, RMB 14605 per tonne, RMB 14610 per tonne, RMB 14640 per tonne, and RMB 14512 per tonne. The aluminium alloy (ADC12) price stood at RMB 14400 per tonne on Tuesday, 15 September 2020, an increase of RMB 100...
GFG Alliance is committed to aid Alcoa’s troubled San Ciprián aluminium smelter in northwest Spain and is confident to find a solution for the smelter’s long-term sustainability if sources of power and alumina are guaranteed, said Jay Hambro, GFG’s Chief Investment Officer. In early August, GFG Alliance had hinted its interest in acquiring Alcoa’s 228,000 tonnes per year capacity smelter, as per some Industry sources. Hambro said in an interview on September 14, “This single site is Spain's single largest power consumer, energy costs are of vital importance to its success or failure and with a very sizeable investment in renewable energy in that part of Spain and broadly across Spain, we can create a cost-base for the smelter that will support a long-term future." He added, “GFG is trying...
The aluminium sector of Australia could become the model for the sustainable heavy industry by switching to low-cost, zero-emission electricity and investing in plant modernisation. The Institute for Energy Economics and Financial Analysis (IEEFA), an accomplished think tank for renewables, believes that not only is the cost of electricity a major obstacle to the industry’s global competitiveness, it is also one of the most emissions-intensive globally. The IEEFA highlighted in a new report, which focused on the aluminium smelters in Gladstone, Queensland: “An Aluminium-Led Energy & Industry Renewal for Central Queensland” that with operators losing money and considering closure, some 4,500 jobs in the region could be under threat.” “This failure is linked to their enormous electricity...
The US dollar slipped on Monday, September 14, against its major peers, dropping to a two-week low versus the yen, as positive news about a COVID-19 vaccine and a wave of merger and acquisition deals lifted the mood in global equity markets. Three-month LME aluminium ended 1.52 per cent higher at US$ 1,802 per tonne on Monday, after hitting an intraday high of US$ 1,805 per tonne earlier in the session. It is likely to move between US$ 1,780-1,820 per tonne today. LME aluminium cash (bid) price and LME official settlement price stood at US$ 1749 per tonne on Monday, September 14, growing by US$ 2.50 per tonne from US$ 1746.50 per tonne on September 11. 3-months bid price and 3-months offer price hovered at US$ 1787.50 per tonne versus US$ 1785.50 per tonne on the previous day. Dec 21 bid...
Three-month LME aluminium slid 0.17% to close at US$1,775 per tonne in choppy trading on Friday. It is likely to move between US$1,760-1,800 per tonne today. As of Friday September 11, LME aluminium cash (bid) price stands at US$ 1746.50 per tonne, LME official settlement price stands at US$1746.50per tonne; 3-months bid price stands at US$ 1785.50per tonne, 3-months offer price is US$ 1785.50per tonne; Dec 21 bid price stands at US$ 1863.50per tonne, and Dec 21 offer price stands at US$ 1863.50per tonne. The LME aluminium opening stock stood at 1520650 tonnes. Live Warrants totalled 1297000 tonnes, and Cancelled Warrants were 223650 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 1777.33per tonne. SHFE Aluminium Price Trend Benchmark aluminium price for SHFE...
Alcoa Intalco Works aluminium smelter curtailment has been concluded according to workers, many of which were laid off in the process. The Pittsburgh-headquartered Alcoa Corporation declared the planned curtailment and layoffs in April’20 specifying declining market conditions and at that particular time, the company estimated 700 workers would be laid off at the Intalco facility beginning in June’20 according to the company’s WARN notification to the Washington State Department of Employment Security. However, as per the 9 th September press release from the International Association of Machinists and Aerospace Workers, 621 were ultimately laid off. A rally in support of the Intalco Works facility and workers was held in Ferndale outside of Pioneer Park the day after the curtailment was...
Hydro announced Ellen Merete Olstad as a new employee-elected member of the Board of Directors of Norsk Hydro ASA, with effect from September 10, 2020 until next election of employee representatives in 2022. “Olstad replaces Svein Kåre Sund as one of the board's three employee representatives. Sten Roar Martinsen and Arve Baade were re-elected for a period until next election of employee representatives in 2022,” Hydro said. Hydro’ Board of Directors now consists of chair Dag Mejdell, deputy chair Irene Rummelhoff, Rune Bjerke, Thomas Schulz, Liselott Kilaas, Marianne Wiinholt, Peter Kukielski, and the employee-elected board members Sten Roar Martinsen, Arve Baade and Ellen Merete Olstad. Note to readers: AlCircle brings two-day event for aluminium industry players. We look forward to...
National Aluminium Company Limited (NALCO) has decreased its aluminium products price after hiking it for the fourth time in a row. With effect from Friday, 11 September 2020, NALCO's aluminium ingots price stood at INR 147,850 – 151,350 per tonne, registering a decline of INR 2,200 or 1.47 per cent from INR 150,050-153,550 per tonne on August 14. The company is selling its aluminium billets at INR 151,300- 152,800 per tonne on September 11, a drop from INR 153,500-156,150 per tonne on August 14. The aluminium wire rods price came in at INR 149,150-153,500 per tonne on September 11, down from INR 153,550 – 157,900 per tonne on August 14. Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The three-month...
According to a recent report, National Aluminium Company has initiated the process of increasing its wind portfolio to 223.9 MW by adding 25.5 MW of new wind power capacity to renewable energy portfolio. The news came after Nalco’s Chairman and Managing Director Sridhar Patra said in a report that the company is adding a new wind project in Tamil Nadu with a capital expenditure of INR 163 crore. Mr Patra said NALCO is in the “process of augmenting its wind power generation capacity to 223.90 MW by adding another wind power project of capacity 25.5 MW at Kayathar, Tamil Nadu, at a capital expenditure of Rs 163 crore through REGen Powertech Pvt Ltd.” Currently, the company has an established wind energy portfolio of 198.4 MW across the country. Patra added, “Substantial progress has been...
Vedanta has declined its aluminium products price after twenty days of restraint. With effect from Friday, 11 September 2020, the prices of some aluminium ingots are in the range of INR 145,750-158,750 per tonne, marking a drop of INR 1,250 per tonne from INR 147,000-160,000 per tonne on Saturday 22 August 2020. With the latest decline, Vedanta’ billet now stands at INR 153,750 per tonne on September 11, a decrease of INR 1,250 per tonne from INR 155,000 per tonne on August 22 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 aluminium Cost of Production (CoP) in...
