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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Africa produced 133,000 tonnes of primary aluminium in July 2020. The output registered a decrease of 2.92% from 137,000 tonnes in July 2019. The output reduced by 4.32% from May 2020’s production of 139,000 tonnes but up 2.31% from June 2020’s production of 130,000 tonnes, according to the latest data showed by the International Aluminium Institute (IAI). Primary aluminium production stood at 937,000 tonnes in the first seven months of 2020 as compared to 960,000 tonnes in the first seven months of 2019. This marked a decrease of 2.4% or 23,000 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.
Three-month LME aluminium declined 0.5% to end at US$1,783 per tonne on Thursday. As of Thursday August 20, LME aluminium cash (bid) price stands at US$ 1755.50 per tonne, LME official settlement price stands at US$ 1755.50 per tonne; 3-months bid price stands at US$ 1791.50 per tonne, 3-months offer price is US$ 1791.50 per tonne; Dec 21 bid price stands at US$ 1868.50 per tonne, and Dec 21 offer price stands at US$ 1868.50 per tonne. The LME aluminium opening stock stood at 1578200 tonnes. Live Warrants totalled 1355900 tonnes, and Cancelled Warrants were 222300 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 1782.68per tonne. SHFE Aluminium Price Trend Benchmark aluminium price for SHFE increased to stand at US$ 2144 per tonne on Friday, 21 August 2020. The...
The Cameroonian Aluminum Company Alucam and the Cameroonian aluminium finished products firm Socatral will no longer be two separate organizations. The two entities have decided to merge. During the exceptional general meeting which was held on 30 th June’20, the shareholders of the two companies adopted without reservation the only item on the agenda, namely: the merger of Alucam and Socatral. Cathy Momha from the communications department at Alucam, explained: “This is a merger by absorption. Alucam has absorbed Socatral. Henceforth, Alucam forms a single entity. But the stakeholders are still finalizing the last elements relating to this operation. These are legal details and information systems, particularly concerning the language elements given the upcoming communication plan. For...
Global primary aluminium production stood at 5.452 million tonnes in July, an increase of 0.63% from 5.418 million tonnes in July 2019, according to the latest data showed by the International Aluminium Institute (IAI) on Thursday, 20 August 2020. On a month-on-month comparison, the output increased by 2.97% from 5.295 million tonnes. Total primary aluminium production came in at 37.515 million tonnes in the first seven months of 2020, an increase of 1.2% from 37.071 million tonnes in the first seven months of 2019. In Asia ex-China, aluminium production reduced by 7.8% year-on-year but up 1.78% month-on-month to 343,000 tonnes in July. In January-July, output came in at 2.391 million tonnes, a decrease of 6.78% from 2.565 million tonnes in January-July 2019. In the Middle East, primary...
As updated by Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, increased this week. Inventories stood 762,000 tonnes as of Thursday, 20 August 2020, up 25,000 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 Shanghai, Wuxi, and Hangzhou increased by 8,000 tonnes, 7,000 tonnes and 1,000 tonnes from a week ago to 116,000 tonnes, 237,000 tonnes and 100,000 tonnes as of Thursday, 20 August 2020. Stocks in Chongqing remained unchanged at 3,000 tonnes. Inventories of aluminium in Gongyi, Tianjin and Linyi stood at 47,000 tonnes, 58,000 tonnes, and 7,000 tonnes. That was up 12,000 tonnes, 1,000 tonnes and...
South32 reported revenue of US$6,075 million for the year ended 30 June 2020 (FY20), down 16% from US$7,274 million for the year ended 30 June 2019 (FY19). Underlying earnings before interest, tax, depreciation and amortisation (EBITDA) fell 46% to US$1,185 million for the year ended 30 June 2020 (FY20). Underlying earnings plummeting 81% to $193 million for the year ended 30 June 2020 (FY20). The company has reported underlying earnings of $992 million for the year ended 30 June 2019 (FY19). “As the COVID-19 pandemic continues to impact the world, our focus remains on keeping our people well, maintaining safe and reliable operations and supporting our communities through the health crisis. Even as we face this challenge, we delivered a strong operating result, with annual production...
Vedanta has raised it its aluminium products price after reducing it for the second time in a row. With effect from Thursday, 20 August 2020, the prices of some aluminium ingots are in the range of INR 148,750-161,750 per tonne, marking a growth of INR 1,250 per tonne or 7.14% from INR 147,500-160,500 per tonne on August 15. With the latest hike, Vedanta’ billet now stands at INR 156,750 per tonne on August 20, an increase of INR 1,250 per tonne from INR 155,500 per tonne on August 15. 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 by 4% so far due to slower global demand following the coronavirus outbreak. Vedanta Limited cuts its aluminium Cost of...
The Aluminium Association of Canada (AAC) hails the Government's support through Canada Economic Development for Quebec Regions, contributing to the full recognition of the North American origin of its metal through its continental markets and integrated value chain such as the automotive industry. On 19 th August’20, Honourable Mélanie Joly, the Minister of Economic Development and Official Languages announced the support, which is the culmination of more than two years of work by the industry. Jean Simard, President and CEO of AAC, highlighted: "In this period of economic and political uncertainty for the industry, the authentication of aluminium is a highly strategic approach to leverage the strengths of Canadian aluminium and consolidate its markets.” Thus, the system of...
The US dollar gained on Wednesday, August 19, after the Federal Reserve suggested it could pursue aggressive stimulus measures for longer than under its previous strategy, minutes from its last policy meeting showed. Three-month LME aluminium closed 1.07 per cent higher at US$ 1,787.5 per tonne on August 19. LME aluminium cash (bid) price and LME official settlement price increased for the second day in a row from US$ 1733 per tonne to US$ 1746.50 per tonne, as of Wednesday, August 19. 3-months bid price and 3-months offer price stood at US$ 1783 per tonne, up by US$13 per tonne from US$ 1770 per tonne. Dec 21 bid price and Dec 21 offer price came in at US$ 1862 per tonne. The LME aluminium opening stock declined to 1585000 tonne, following an increase to 1590550 tonnes on the previous...
Hindalco Industries Limited has increased the prices of its aluminium ingot and aluminium product by 1 per cent with effect from Thursday, August 20. With the latest hike, Hindalco’s aluminium ingot price has rebounded to INR 150,000 per tonne, up INR 1,250 per tonne or 1 per cent from INR 148,750 per tonne on August 15. The price of Hindalco’s aluminium wire rods has also been raised by INR 1,250 per tonne to INR 161,100 per tonne versus INR 159,850 per tonne last week. The company’s aluminium billets price has now come in at INR 157,100 per tonne with the latest hike from INR 155,850 per tonne on August 12. Like any other major Indian aluminium producers, Hindalco links its aluminium prices to the three-month futures of the metal on the London Metal Exchange. In the last one week,...
The entire value chain of the aluminium industry has been evolving rapidly over the last few years, with the expeditious growth of its usage in various end-use products and increasing awareness for recycling. But now, with the emergence of the COVID-19, the aluminium metal industry has taken a new dimension, with new potential trends and developments across the global non-ferrous metal sector. Hence, AlCircle has published a new Sector Focus Report on the topic - “ Global Aluminium Industry – Key Trends to 2030” to take its readers through the key developments expected to emerge in the next 10 years. In this report, AlCircle has attempted to explore geographic trends of each sector of the aluminium value chain, along with the new products, applications and substitutes expected for each of...
Press Metal Aluminium Holdings Berhad, the largest Aluminium smelter in South East Asia, has announced its second quarter financial results for the three months ended 30 June 2020. Revenue decreased by 18.9% to RM1.73 billion in 2Q FY20, from RM2.13 billion in 2Q FY19 on lower realised aluminium prices. “However, we have existing hedges that partially locked in some favourable pricing and our average selling price in 2Q FY20 was higher than the average market price.” Profit before tax (PBT) increased by 1.2% to RM124.92 million in2Q FY20, from RM123.47 million in 2Q YF19. Group Chief Executive Officer Tan Sri Paul Koon stated: “The second quarter of this year was a very challenging and tumultuous period where the pandemic was at its height. With many countries seeing reduced economic...
Three-month LME aluminium trended higher on Tuesday, closing 0.91% firmer at US$1,773 per tonne. Open interest fell 10,706 lots to 797,000 lots. It is expected to move between US$1,750-1,780 per tonne today. As of Tuesday August 18, LME aluminium cash (bid) price stands at US$ 1733 per tonne, LME official settlement price stands at US$ 1733 per tonne; 3-months bid price stands at US$ 1770 per tonne, 3-months offer price is US$ 1770 per tonne; Dec 21 bid price stands at US$ 1848 per tonne, and Dec 21 offer price stands at US$ 1848 per tonne. The LME aluminium opening stock stood at 1590550 tonnes. Live Warrants totalled 1355900 tonnes, and Cancelled Warrants were 234650 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 1760.70 per tonne. SHFE Aluminium Price Trend...
On Wednesday, August 19, A00 aluminium ingot price has recorded a hike for the second day in a row by RMB 100 per tonne to stand at RMB 14,640 per tonne, found Shanghai Metals Market. The average prices are expected to range between RMB 14,620 per tonne and RMB 14,660 per tonne, with spot contract to be traded at a premium price of RMB 80-120 per tonne, down by RMB 20 per tonne from the previous day. Tianjin has seen the highest increase today of RMB 170 per tonne to RMB 14,670 per tonne, followed by a rise of RMB 140 per tonne to RMB 14,660 per tonne in Hangzhou. In Wuxi and Shenyang, the A00 aluminium ingot price has climbed up by RMB 130 per tonne and RMB 120 per tonne to come in at RMB 14,660 per tonne and RMB 14,685 per tonne, respectively. In Foshan and Chongqing, the primary...
US dollar fell for four straight trading days, and recorded a new low since August 7 of 92.76 on Monday as weak results from a regional manufacturing survey added to doubts sowed by grim data last week that the US recovery is on shaky grounds. Three-month LME aluminium closed 0.92 per cent firmer at US$ 1,757 per tonne on Monday. Open interest fell 1,440 lots to 807,000 lots. It is likely to move between US$ 1,735-1,765 per tonne today. As of Monday, August 17, LME aluminium cash (bid) price and LME official settlement price continued to decline for the second consecutive day to US$ 1719.50 per tonne from US$ 1730 per tonne. 3-months bid price and 3-months offer price stood at US$ 1757 per tonne, down by US$ 9 per tonne from US$ 1766 per tonne. Dec 21 bid price and Dec 21 offer price came...
The A00 aluminium ingot price has increased by RMB 120 per tonne on Tuesday, 18 August 2020 after two consecutive drops. The price now stands at RMB 14540 per tonne today and is expected to move within a range of RMB 14520-14560 per tonne. In Foshan and Wuxi, the price has inched up by RMB 120 per tonne each to stand at RMB 14490 per tonne and RMB 14530 per tonne on Tuesday, 18 August 2020. Their average prices are expected to range within RMB 14470-14510 per tonne and RMB 14520-14540 per tonne. Aluminium prices in Hangzhou and Chongqing has increased to come in at RMB 14520 per tonne and 14420 per tonne, up RMB 100 per tonne and RMB 110 per tonne. Aluminium ingot prices in Shenyang, Tianjin, Linyi, and Gongyi has risen to RMB 14565 per tonne, RMB 14500 per tonne, RMB 14630 per tonne, and...
Who hasn’t heard the saying “News at Fingertips”, especially when the whole world is moving at its fastest pace and when everybody is looking out for information at just a Click Away? So, to cater to the need to stay updated with all the latest developments in the aluminium value chain market even when you are on the move, AlCircle has launched a news app named AlCircle News . This app is specially curated to facilitate the readers with easy access to the latest news and events of the Aluminium world at literally a few clicks away and to address the changing consumption patterns of people who prefer apps over a website. AlCircle, like always a committed aluminium information platform, offers news, reports, blogs, interviews, and event calendars on this app with user-friendly, easy to...
Vedanta Limited has announced the appointment of Sunil Duggal as its new Chief Executive Officer. Sunil Duggal is the former CEO of Hindustan Zinc Ltd. Anil Agarwal, Chairman, Vedanta Ltd Said: “We are delighted to welcome Sunil Duggal as our CEO. Sunil is a proven leader with a wealth of strategic executive experience. He has motivated and lead teams to deliver high standards of operational excellence, stakeholder management, best-in-class people practices, technology, safety, ESG and carbon footprint.” Sunil, associated with Vedanta for the past 10 years, was given additional charge as Vedanta’s Interim CEO in March 2020. Sunil takes over as CEO at a time when the company is gearing up for the next phase of growth with full commitment to the nation’s call for `Atmanirbhar Bharat’. Over...
