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 stocks in Shanghai bonded warehouses increased three times in August from the previous month due to an increase in deliveries followed after the brief opening of arbitrage window between the London Metal Exchange and the Shanghai Futures Exchange in late July. According to Fastmarkets assessment, Shanghai bonded aluminium stocks stood at 7,500-8,000 tonnes on Monday, August 31, higher by 5,000-5,500 tonnes from 2,000-3,000 tonnes on July 31. The aluminium import arbitrage window in China opened on July 30, with profits widening to $33.48 per tonne on August 3 before flipping to a loss the next day and remaining closed since then. 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,...
Sohar Aluminium achieved a record hot metal production of 390,516 tonnes in 2019, underscoring its ambition to become the benchmark smelter in the Middle East. This production milestone came on the 10 th anniversary of Sohar operations, jointly owned by the Omani government (40 per cent) represented by OQ – Oman’s integrated energy group; Abu Dhabi National Energy Company PJSC (40 per cent), and leading global mining group Rio Tinto (20 per cent). Sohar Aluminium started its production in 2010 with an annual capacity of 390,000 tonnes of high quality aluminium. Hot metal output was up by about 2.8 per cent from the previous year’s high of 379,775 tonnes. In 2017, production slumped to 252,714 tonnes when smelting operations were impacted by a technical glitch. Eng Said bin Mohammed al...
Prebaked anode price in East China market has edged higher by RMB 80 per tonne after remaining flat at RMB 2930 per tonne since August 3. As of Tuesday, 01 September 2020, prebaked anode price ranged at RMB 2840-3180 per tonne; the average price stood at RMB 3010 per tonne. Prebaked anode prices in Central and Southwest China markets have stood higher at RMB 3100 per tonne and RMB 3210 per tonne, up RMB 90 per tonne and RMB 30 per tonne. Their average prices are expected to range at RMB 2900-3300 per tonne and RMB 3100-3320 per tonne. The prebaked anode spot price in Northwest China has increased by RMB 90 per tonne to stand at RMB 3500 per tonne. The average price is expected to range at RMB 3400-3600 per tonne. Aluminium Fluoride price in China stands at RMB 7850 per tonne on Tuesday,...
The US dollar hit a more than two-year low and a fourth straight month of losses on Monday in the wake of the US Federal Reserve’s policy shift on inflation. It is down 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. Shanghai base metals, except for aluminium, opened on a positive note on Tuesday morning, holding onto overnight gains, while their counterparts on the LME increased across the board, as the dollar hit two-year low on the back of the US Federal Reserve’s policy shift on inflation. The LME market was closed on Monday, August 31, for a summer bank holiday and will resume normal trading on Tuesday, September 1. SHFE Aluminium Price Trend Benchmark aluminium price for SHFE increased marginally by...
Three-month LME aluminium broke above US$1,800 per tonne to a more than half-year high of US$1,806 per tonne on Friday, ending 0.12% higher at US$1,798 per tonne. As of Friday August 28, LME aluminium cash (bid) price stands at US$ 1762 per tonne, LME official settlement price stands at US$ 1762 per tonne; 3-months bid price stands at US$ 1797.50 per tonne, 3-months offer price is US$ 1797.50 per tonne; Dec 21 bid price stands at US$ 1875.50 per tonne, and Dec 21 offer price stands at US$ 1875.50 per tonne. The LME aluminium opening stock stood at 1554375 tonnes. Live Warrants totalled 1323025 tonnes, and Cancelled Warrants were 231350 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 1783.87 per tonne. SHFE Aluminium Price Trend Benchmark aluminium price for SHFE...
According to the Shanghai Metals Market, A00 aluminium ingot price has grown by RMB 80 per tonne on Monday, August 31, to stand at RMB 14,760 per tonne, following two consecutive declines of RMB 40 per tonne and RMB 50 per tonne to come in at RMB 14,680 per tonne. The average prices today are expected to range between RMB 14,740 per tonne and RMB 14,780 per tonne, with spot contract to be traded at a premium price of RMB 10-50 per tonne. In Wuxi and Gongyi, the price has surged by RMB 80 per tonne to RMB 14,750 per tonne and RMB 14,630 per tonne, respectively, while that in Hangzhou and Chongqing has increased by RMB 70 per tonne to hover at RMB 14,750 per tonne and RMB 14,700 per tonne. In Shenyang and Foshan, A00 aluminium ingot price has climbed up by RMB 60 per tonne to come in at RMB...
Canada’s Members for House of Commons, Mario Simard and Alexis Brunelle-Duceppe proposed the federal government to invest $ 200 million for the creation of a sector fund dedicated to aluminium processing and carbon-neutral aluminium production. According to the Parliamentary Budget Officer, the $ 200 million resulting from the 2018 counter-tariffs has still not gone to the industry. The Bloc members are therefore calling on the government to use this amount as a motor for development in the secondary and tertiary processing sectors. At the same time, they also want this fund to promote the development of the green aluminium industry. The sector fund would be a blessing for the aluminium sector, as it can benefit from significant leverage to reduce supply chains. Mario Simard said: “Right...
The CSN-affiliated Federation of Manufacturing holds that if the United States rebuffs to withdraw the 10% tariff recently imposed on Canadian aluminium than the Canada Government should tentatively end the planned opening in the Canada-United States-Mexico Agreement (CUSMA) for dairy products and those under the auspices of the supply management system. The union which claims its presence in the Quebec aluminium industry believes that a temporary return to supply management before the CUSMA would have a remarkable impact in agricultural states like Wisconsin, which recalls they are important electoral targets for President Donald Trump. Michel Desbiens, President of the National Union of Aluminum Employees of Baie-Comeau-CSN, adds: “If Canada can no longer count on its long-standing...
Three-month LME aluminium started the week on Monday, August 24, with a growth of 0.11 per cent to stand at US$ 1770 per tonne. On Tuesday, the price settled 0.51 per cent higher at US$ 1779 per tonne, which however, weakened a bit by 0.17 per cent on Wednesday, August 26, to end at US$ 1776 per tonne. On Thursday, the price rebounded at US$ 1779 per tonne, following wide fluctuations. LME aluminium cash (bid) price and LME official settlement price remained range-bound this week from Monday to Thursday between US$ 1735.50 per tonne and US$ 1738 per tonne. But on Friday, August 28, both the prices jumped to US$ 1762 per tonne, up by US$ 24 per tonne from the previous day. Starting the week on Monday, August 24 at US$ 1735.50 per tonne, LME aluminium cash (bid) price and LME official...
The Executive Chairman of aluminium and steel investment company GFG Alliance, Sanjeev Gupta will head the roster at the London Metal Exchange’s virtual seminar for 2020, as declared on 28 th August. The virtual seminar will commence from 19 th October ‘20 and replaces the annual LME week gathering of metal market participants in London, which has been withdrawn due to the COVID-19 epidemic. With over two decades of experience in metals and commodities markets, Sanjeev Gupta founded metal and industrial company Liberty House Group in 1992, when he was a university undergraduate. LME’s declaration of Sanjeev Gupta as keynote speaker is timely given GFG’s developing business interest in green products, a topic currently at the forefront of the industry amid ongoing calls for carbon...
The US dollar gained on Thursday, August 27, in choppy trading after Federal Reserve Chairman Jerome Powell said, as widely expected, that the US central bank would roll out an aggressive new strategy to lift US employment and inflation. Three-month LME aluminium fluctuated widely on Thursday, ending 0.11 per cent higher at US$ 1,779 per tonne. It is likely to move between US$ 1,760-1,785 per tonne today. On Thursday, August 27, LME aluminium cash (bid) price and LME official settlement price stood at US$ 1738 per tonne, growing slightly by US$ 1 per tonne from the previous day. 3-months bid price and 3-months offer price hovered at US$ 1776.50 per tonne, down by US$ 2.5 per tonne from US$ 1779 per tonne on August 26. Dec 21 bid price and Dec 21 offer price came in at US$ 1852.50 per...
Aluminum Corporation of China Limited, popularly known as Chalco, reported on Thursday, August 27, that its profit fell 95 per cent year-on-year in the first half of 2020, attributing to lower aluminium and alumina prices and decrease in primary aluminium production. The net income of the company during H1 2020 came in at RMB 35.71 million, down from an adjusted RMB 707.41 million a year earlier. Last year’s first-half income was buoyed by a substantial gain on an asset sale, exacerbating the drop in earnings this year. In the second quarter, Chalco’s profit was RMB 5 million, marking the company’s worst quarterly result since a net loss in the fourth quarter of 2018, according to Refinitiv Eikon data. In terms of production, Chalco’s primary aluminium output in the first half of the year...
Primary aluminium inventories in China have recorded a plunge of 7,000 tonnes this week ended on Thursday, August 27, following a rise of 25,000 tonnes in the week earlier, found Shanghai Metals Market. According to the data, the social inventories of primary aluminium have declined across eight Chinese consumption areas, including SHFE warrants, to stand at 755,000 tonnes versus 762,000 tonnes on last Thursday, August 20. The chart below indicates the current status of primary aluminium inventories across China in more details: Nanhai, among all the major Chinese markets, has seen the highest downfall of 9,000 tonnes to 185,000 tonnes, as of August 27, followed by the decline of 4,000 tonnes in Shanghai to stand at 112,000 tonnes. In Tianjin and Hangzhou, the primary aluminium...
The Ghana Integrated Aluminum Development Corporation (GIADEC) took charge for Volta Aluminium Company’s (VALCO) recovery plan within 5 years. The plan incorporates the modernization of the aluminium smelter, which will take between three to five years and it will be done in two phases. This is to enable the aluminium smelter to produce first at its full capacity and a further increase in production will be recorded post the modernization. Michael Ansah, CEO of GIADEC, made public the plan at a swearing-in ceremony of the VALCO Board by the Minister for Lands and Natural Resources, Kwaku Asomah Kyeremeh. He said: “The first phase will deliver 170,000 tonnes while the second phase will produce 120,000 tonnes.” He also added: “The first phase will begin as soon as strategic partners are...
Australian Bauxite Limited’s subsidiary ALCORE Limited has executed a Memorandum of Understanding agreement (MoU) with the Japanese global trading company Sojitz Corporation (Sojitz). Both the companies will explore a potential business relationship with respect to the business of Aluminium Fluoride (AIF₃). Mark Cooksey, Alcore’s CEO, commented: “Sojitz has been assisting Alcore for 3 years and is one of several aluminium industry corporations that are vitally interested in the Alcore processes and business plans. We welcome this third-party endorsement and we expect there will be further endorsements in the coming months as we start to standardise our product specifications and processing strategies. Sojitz can provide an immediate international capability and could assist in the supply...
Three-month LME aluminium weakened 0.17% to end at US$1,776 per tonne on Wednesday. As of Wednesday August 26, LME aluminium cash (bid) price stands at US$ 1737per tonne, LME official settlement price stands at US$ 1737per 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$ 1855 per tonne. The LME aluminium opening stock stood at 1563300 tonnes. Live Warrants totalled 1333775 tonnes, and Cancelled Warrants were 229525 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 1784.86 per tonne. SHFE Aluminium Price Trend Benchmark aluminium price for SHFE increased to stand at US$ 2135 per tonne on Thursday, August 27 2020. The most-liquid SHFE...
On Thursday, August 29, A00 aluminium ingot price in China has declined by RMB 40 per tonne to RMB 14,730 per tonne, following two consecutive hikes from RMB 14,700 per tonne to RMB 14,770 per tonne, according to the data found by Shanghai Metals Market. Week-on-week, the price is down by RMB 60 per tonne from RMB 14,790 per tonne, as of August 20. The average prices today are expected to range between RMB 14,710 per tonne and RMB 14,750 per tonne, with spot contract to be traded at a premium price of RMB 20-60 per tonne. Today, Linyi has seen the highest downfall of RMB 70 per tonne to RMB 14,720 per tonne, according to SMM. In Hangzhou, the primary aluminium ingot price has shrunk by RMB 60 per tonne to RMB 14,710 per tonne, while that in Gongyi has decreased by RMB 55 per tonne to RMB...
Aluminium Company of Egypt “Egyptalum” is expecting to report EGP 993.773 million in net losses during fiscal year (FY) 2019/20, compared to the EGP 870.927million net profit in FY 2018/19. On 25 th August’20, the aluminium company reported in a statement to the Egyptian Exchange (EGX), where the company revealed that its revenues dropped to EGP 7.254 billion in the period from July 2019 to June 2020. This compared to the EGP 12.188 billion from July 2018 to June 2019. The company imputed its losses to the increase in production costs, particularly concerning electricity consumption, during FY 2019/20. Furthermore, the shrink in the US dollar exchange rate against the Egyptian pound has contributed to these losses, alongside the sharp drop in metal prices at the London Metal Exchange....
