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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A00 aluminium ingot price in China saw mixed performance over the week. The week started with a increase of RMB 80 per tonne to stand at RMB 14760 per tonne on Monday August 31. The price continued to trend lower at RMB 14700 per tonne and RMB 14520 per tonne on Tuesday and Wednesday. The week ended lower at RMB 14470 per tonne on Friday, after registering a hike of RMB 20 per tonne on Thursday. Prebaked anode price in East China market edged higher by RMB 80 per tonne on 01 September 2020 after remaining flat at RMB 2930 per tonne since August 3. The average price is currently hovering at RMB 3010 per tonne. Prebaked anode prices in Central stood higher at RMB 3100 per tonne, up RMB 90 per tonne. The prebaked anode spot price in Northwest China increased by RMB 90 per tonne to stand at...
On Monday, August 31, the US dollar hit a more than two-year low and a fourth straight month of losses in the wake of the US Federal Reserve’s policy shift on inflation. It was down by 1.24 per cent for the month, marking its worst August in five years and the longest run of monthly losses since the summer of 2017. However, on Wednesday, September 2, the US dollar bounced off two-year lows as US data pointed to a firm manufacturing activity. Three-month LME aluminium on Tuesday, September 1, rose by 1.14 per cent to end at US$1,818.5 per tonne, while on Thursday, September 3, it slipped 0.81% to end at US$1,776 per tonne, with open interest decreasing 2,033 lots to 777,000 lots. LME aluminium cash (bid) price and LME official settlement price displayed a bullish trend throughout this...
National Aluminium Company Limited (NALCO) has 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. The net profit margin stood at 1.2%, down 3.49% YoY. Revenue of National Aluminium Company Limited 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 last year. EBITDA margin came in at 9.35%, down 0.94% YoY. Note to readers: AlCircle brings two-day event for aluminium industry players. We look forward to meeting you virtually at “Global Aluminium Expo 2020”on October 6-7, 2020. For registration, visit...
Engineering Export Promotion Council (EEPC) wrote a letter to the Commerce Minister, on Thursday, September 3, urging the continuation of the MEIS Scheme with no limit on claims for aluminium exports. The Council thinks this to be the best way to retain competitiveness in the market and survive the current crisis. The letter was sent in wake of DGFT Notification, dated September 1, imposing a limit of INR 2 crore per IEC on total reward claims under MEIS for exports between September-December 2020. According to EEPC, this move would be a big setback for Indian aluminium exports, resulting in a struggle to remain globally competitive amidst the high incidences of unrebated taxes and duties, depressed demand for the metal, and crashed LME aluminium prices. The MEIS scheme has been there...
According to the latest Reuters update, the premium for aluminium shipments to Japanese buyers has been set at $88 per tonne for October-December. The premium is higher by 11 per cent from this quarter, reported sources involved in market pricing. The premium stood higher as industrial demand recovers from the COVID-19 pandemic. During July-September quarter, the premiums for aluminium shipments were $79 per tonne. This marks a first quarterly increase in five. According to the sources, producers had originally sought premiums of $95-$98 per tonne. Japan is the biggest importer of aluminium in Asia and the premiums it agrees to pay for primary aluminium shipments for each quarter over the cash price settled at the London Metal Exchange (LME) set the benchmark for the region. Note to...
United Company Rusal Plc (Rusal)’s new plant, to be commissioned in 2022 on 400 km east of Krasnoyarsk in Taishet in Russia, will reportedly have SCHADE technology. The Russian aluminium producer had first placed its order with SCHADE Lagertechnik GmbH at the end of 2019, for a wagon tippler and two Semi-Portal Reclaimers. This contract is an important milestone for SCHADE in terms of its growth in the metallurgy sector, which is rapidly emerging as one of the core focus industries. The Rusal Group has operations across five continents, with almost 60,000 employees. Its new plant in Taishet will supposedly produce anodes for aluminium manufacture using unprocessed petroleum coke, also referred to as green coke, a refinery by-product which is otherwise normally discarded. Rusal has chosen...
Three-month LME aluminium slipped 0.81% to end at US$1,776 per tonne on Thursday, with open interest decreasing 2,033 lots to 777,000 lots. It is likely to fluctuate between US$1,750-1,820 per tonne today. As of Thursday September 3, LME aluminium cash (bid) price stands at US$ 1743.50 per tonne, LME official settlement price stands at US$ 1743.50per tonne; 3-months bid price stands at US$ 1779 per tonne, 3-months offer price is US$ 1779 per tonne; Dec 21 bid price stands at US$ 1855per tonne, and Dec 21 offer price stands at US$ 1855per tonne. The LME aluminium opening stock stood at 1541800 tonnes. Live Warrants totalled 1319000 tonnes, and Cancelled Warrants were 222800 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 1785.33per tonne. SHFE Aluminium Price Trend...
According to the Shanghai Metals Market, A00 aluminium ingot price has recorded a plunge of RMB 70 per tonne to stand at RMB 14,470 per tonne, as of Friday, September 4, following a build-up of 6,000 tonnes in primary aluminium inventories on Thursday, September 3. The average aluminium ingot prices today are expected to range between RMB 14,450 per tonne and RMB 14,490 per tonne, with spot contract to be traded at a premium price of RMB 40-80 per tonne, up by RMB 40 per tonne from the previous day. Tianjin has seen the highest decline in A00 aluminium ingot price of RMB 100 per tonne to RMB 14,480 per tonne, followed by a decrease of RMB 70 per tonne to RMB 14,530 per tonne in Foshan. In Wuxi and Hangzhou, A00 aluminium ingot price has plummeted by RMB 50 per tonne to RMB 14,500 per...
According to the Shanghai Metals Market, the social inventories of primary aluminium have gained 6,000 tonnes over the week ending Thursday, September 3. The stocks have increased across eight major consumption areas in China, including SHFE warrants, to stand at 761,000 tonnes compared to 755,000 tonnes on last Thursday, August 27. Last week, the inventories had declined by 7,000 tonnes week-on-week. The chart below indicates the current status of primary aluminium inventories across China in more details: As the above chart suggests, Gongyi has seen the highest increase of 29,000 tonnes in primary aluminium inventories to stand at 82,000 tonnes, followed by a rise of 8,000 tonnes in Shanghai to hover at 120,000 tonnes. The inventories in Chongqing have come in at 3,000 tonnes rising by...
Vedanta Aluminium has bagged five awards at the 21st National Award for Excellence in Energy Management, organised by the Confederation of Indian Industries (CII). The event was held from 25-28th August 2020 in a virtual conclave and ceremony. Vedanta Limited’s Lanjigarh unit has won the ‘Excellent Energy Efficient Unit’ award for deploying processes that significantly improved energy efficiency in alumina refinery. BALCO has received ‘Excellent Energy Efficient Unit’ as well as ‘Innovative Project’ award for its best practices and breakthrough innovation in energy management. Both smelters of Vedanta Ltd., Jharsuguda, is adjudged as ‘Energy Efficient Unit’ for streamlining and reducing energy consumption through sustained process improvements. The award aims to catalyze innovation and...
Rise in China’s aluminium imports in July 2020 versus decrease in exports is seen as an inversion in trade flows due to the disconnect between Chinese market, which is in full recovery mode from the COVID-19 pandemic, and the rest of the world that is still struggling to get back on its feet. China, being the world’s largest producer of the light metal, normally exports a prodigious amount of semi-manufactured products – around 5.2 million tonnes in both 2018 and 2019, with no need to call on extra supply from the international market. The last time China turned net importer was in 2009. Many people are expecting this import surge to be short-lived, as it was in 2009, but the world has changed since then and it is possible to see an underlying structural shift in the aluminium market....
A00 aluminium ingot price climbed by RMB 20 per tonne to stand at RMB 14540 per tonne on Thursday, 03 September 2020, from Wednesday’s price of RMB 14520 per tonne. The price registered an increase after two days of decline. The price is expected to range at RMB 14520-14560 per tonne. In Foshan and Wuxi, the price rose by RMB 30 per tonne each to stand at RMB 14600 per tonne and RMB 14550 per tonne on September 3. Their average prices are expected to range within RMB 14580-14620 per tonne and RMB 14530-14570 per tonne. Aluminium ingot prices in Hangzhou, Tianjin, Linyi, and Gongyi increased to stand at RMB 14570 per tonne, RMB 14580 per tonne, RMB 14580 per tonne, and RMB 14405 per tonne. The aluminium alloy (ADC12) price stood at RMB 14050 per tonne on Thursday, 03 September 2020 and is...
The US dollar bounced off two-year lows on Wednesday as US data pointed to a firm manufacturing activity. Economic data published on Tuesday showed US manufacturing activity accelerated to a nearly two-year high in August amid a surge in new orders, with the reading from the Institute for Supply Management (ISM) at its highest level since November 2018. The LME complex traded mixed on Wednesday, with aluminium fell 1.54 per cent. On Wednesday, September 2, LME aluminium cash (bid) price and LME official settlement price stood at US$ 1778.50 per tonne, declining by US$ 3 per tonne from US$ 1781.50 per tonne on Tuesday, September 1. 3-months bid price and 3-months offer price hovered at US$ 1815 per tonne verses US$ 1818 per tonne on the previous day. Dec 21 bid price and Dec 21 offer price...
According to the latest report from the US Geological Survey, US domestic primary aluminium production was 89,000 tonnes in June 2020. The average daily production stood at 2,980 tonnes, 3% less than that in May 2020 and slightly less than that in June 2019. Total aluminium recovered from scrap was 249,000 tonnes in June 2020, 4% more than the revised amount in May 2020 and 15% less than the revised amount in June 2019. Of this, 132,000 tonnes of aluminium was recovered from new scrap and 117,000 tonnes was recovered from old scrap. In June the average U.S. spot market price of primary aluminium ingot was $0.797 per pound, 6% more than that in May 2020. Inventories of primary aluminium in LME-approved warehouses in the United States increased to 163,558 at the end of June. Inventories of...
Finally, the wait is over, the registration process is live now for AlCircle’s first-of-its-kind “Global Aluminium Expo 2020”. The COVID-19 pandemic has driven in difficulties to the world and our aluminium industry, but it cannot restrict the industry partners to set back without meeting each other for a long time. This time technology will drive your physical presence and enable you to reach your industry associates to build a stronger network and sustainable business. While we all are positioning ourselves to the new normal, AlCircle team is exploring to break the bonds of restrictions around travel, communication and business. “Global Aluminium Expo 2020” is an AlCircle initiative which aims to bring all players of the aluminium value chain under one roof. This virtual event dated 6...
A00 aluminium ingot price slipped by RMB 180 per tonne from Tuesday’s price of RMB 14700 per tonne. The price now stood at RMB 14520 per tonne on Wednesday, 02 September 2020 and is expected to move within a range of RMB 14500-14540 per tonne. In Foshan and Wuxi, the price inched down by RMB 190 per tonne and RMB 170 per tonne to stand at RMB 14570 per tonne and RMB 14520 per tonne. Their average prices are expected to range within RMB 14550-14590 per tonne and RMB 14500-14540 per tonne. Aluminium prices in Hangzhou and Chongqing came in at RMB 14530 per tonne and 14550 per tonne, down RMB 160 per tonne and RMB 90 per tonne. Aluminium ingot prices in Shenyang, Tianjin, Linyi, and Gongyi have decreased to stand at RMB 14565 per tonne, RMB 14540 per tonne, RMB 14520 per tonne, and RMB 14385...
Three-month LME aluminium rose 1.14% to end at US$1,818.5 per tonne on Tuesday. The contract is expected to fluctuate at high levels today amid the weak US dollar index. As of Tuesday September 1, LME aluminium cash (bid) price stands at US$ 1781.50 per tonne, LME official settlement price stands at US$ 1781.50 per tonne; 3-months bid price stands at US$ 1818 per tonne, 3-months offer price is US$ 1818 per tonne; Dec 21 bid price stands at US$ 1892.50per tonne, and Dec 21 offer price stands at US$ 1892.50 per tonne. The LME aluminium opening stock stood at 1550225 tonnes. Live Warrants totalled 1321575 tonnes, and Cancelled Warrants were 228650 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 1810.84per tonne. SHFE Aluminium Price Trend Benchmark aluminium price for...
First Partners, a full-service communications consultancy, has bagged the public relations mandate of Vedanta Limited- aluminium & power business. The company’s aluminium operations have operational smelters at Korba (Chhattisgarh) and Jharsuguda (Odisha) and an alumina refinery at Lanjigarh (Odisha). Vedanta’s commercial power generation business is located across India. The consultancy remit spans corporate communications and brand PR support for the company’s Aluminium and Power business units in Odisha, Chhattisgarh and Punjab including the corporate office in the National Capital Region (NCR). The PR mandate followed thorough evaluation rounds involving a multi-agency pitching process, reported prmoment.in. AlCircle brings two-day event for aluminium industry players. We look forward...
