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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According to the Shanghai Metals Market, the A00 aluminium ingot price has recorded a decrease of RMB 140 per tonne to stand at RMB 14,420 per tonne on Monday, August 17. The average prices are expected to range between RMB 14,400 per tonne and RMB 14,440 per tonne, with spot contract to be traded at a premium price of RMB 10-30 per tonne, down by RMB 40 per tonne from the previous day. Shenyang has seen the highest plunge today by RMB 225 per tonne to come in at RMB 14,370 per tonne, followed by a decline of RMB 185 per tonne to RMB 14, 450 per tonne in Gongyi. In Wuxi and Hangzhou, the primary aluminium ingot price has dwindled by RMB 140 per tonne and RMB 135 per tonne to stand at RMB 14,410 per tonne and RMB 14,310 per tonne, respectively. In Chongqing, Foshan, and Tianjin, the...
Three-month LME aluminium closed 1.28% lower at US$1,741 per tonne on Friday. Open interest increased 7,854 lots to 809,000 lots as shorts added positions. The effect of US dollar index on LME aluminium will be monitored. As of Friday August 14, LME aluminium cash (bid) price stands at US$ 1730 per tonne, LME official settlement price stands at US$ 1730 per tonne; 3-months bid price stands at US$ 1766 per tonne, 3-months offer price is US$ 1766 per tonne; Dec 21 bid price stands at US$ 1843 per tonne, and Dec 21 offer price stands at US$ 1843 per tonne. The LME aluminium opening stock stood at 1594325 tonnes. Live Warrants totalled 1351000 tonnes, and Cancelled Warrants were 243325 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 1769.18per tonne. SHFE Aluminium...
In the year 1958, Hindalco Industries started with an aim to produce primary aluminium and brownfield expansion, whereas, from 2020 onwards, Hindalco has grown through acquisitions and FDI investments. The primary aluminium business generated non-uniform cash-flow due to the fluctuation in the international prices. Hindalco planned to de-risk, so it increased the share of the downstream activities and in 2007 Hindalco acquired Novelis, the world’s largest aluminium rolling company for around $6 billion, followed by more downstream investments in India. In 2020 Hindalco acquired Aleris to build competency in aluminium rolled products. Hindalco also invested about $5 billion in upstream projects which incorporates the aluminium smelting and alumina refinery facilities and focus on the...
China's July production of primary aluminium increased 3.1% from a year earlier, according to the latest statistics released by China’s National Bureau of Statistics (NBS) on August 14. The output came in at 3.10 million tonnes of primary aluminium last month. On a month on month comparison, the output increased by 2.8% from June. China’s total aluminium production stood at 21.1 million tonnes in the first seven months of 2020. That was up 2.5% on year, the NBS data also showed. China's production of 10 nonferrous metals - including copper, aluminium, lead, zinc and nickel – came in at 5.08 million tonnes in July. That was flat on June but up 3.3% year-on-year, the bureau said.
Vedanta continued to decline its aluminium products price for the second time in a row. With effect from Saturday, 15 August 2020, the prices of some aluminium ingots are in the range of INR 147,500-160,500 per tonne, marking a decline of INR 250 per tonne or 0.17% from INR 147,750-160,750 per tonne on August 11. With the latest decline, Vedanta’ billet now stands at INR 155,500 per tonne on August 15, a drop of INR 250 per tonne from INR 155,750 per tonne on August 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 by 3% so far due to slower global demand following the coronavirus outbreak. Vedanta Limited cuts its aluminium Cost of Production (CoP) in the...
National Aluminium Company Limited (NALCO) has expanded its aluminium and aluminium product prices for the fourth time in a row, with effect from Friday, August 14. The company has raised its aluminium ingot price by INR 1,300 per tonne or 1 per cent to INR 150,050-153,550 per tonne, as of August 14. After the previous hike a week ago on August 7, NALCO’s aluminium ingot price was at INR 148,750-152,250, up by 2.09 per cent from August 1. With the latest hike, NALCO’s aluminium wire rod price has come in at INR 153,550 – 157,900, up by INR 1,300 per tonne or 1 per cent from INR 152,250-156,600 per tonne. The prices of NALCO’s aluminium billets have also been increased by the same amount to INR 153,500-156,150 per tonne from INR 152,200-154,850 as of August 7. NALCO links its aluminium...
The Shanghai Futures Exchange (SHFE), on Monday, August 10, launched trading in aluminium and zinc options. China, over the past three years, has launched 18 commodity options. The country is the world’s largest production and trading market for non-ferrous metals. Aluminium futures contracts are listed on SHFE for the past 28 years. “Options can well supplement futures,” said Zhao Jinhua, chairman of China Aluminum International Trading Group, in a Xinhua report. He also said commodity options could help in meeting companies’ needs for flexible risk management and lower the cost of hedging, and thereby, could enhance competitiveness. Five of China’s commodity futures contracts are open to foreign investors, including futures in crude oil, natural rubber, low-sulfur fuel, PTA (purified...
Hindalco Industries Limited has announced financial results for the first quarter of 2020 ended June 30, mentioning steady quarterly results driven by a strong performance by India Aluminium Business. Hindalco’s Aluminium India Business EBITDA stood at INR 856 crore versus INR 853 crore during the same period last year. Despite the COVID-19 pandemic, Hindalco has reported the EBITDA margin of 19.3 per cent in Q1, one of the best in the industry. Revenue from the India Aluminium Business, however, edged lower at INR 4,436 crore compared to INR 5,490 crore in Q1FY20. India Aluminium Business achieved aluminium metal production of 291 Kt, while sales at 303 Kt, down by 5 per cent year-on-year due to subdued domestic market, but partially offset by higher exports. Sales of value added...
On Thursday, August 13, the London Metal Exchange laid out plans to create the much-intended low-carbon aluminium spot trading platform to support sustainable metal production. The platform is expected to play a growing role in the green energy transition enabling registered producers to voluntarily log their metal’s carbon-related details. Starting with green and recycled aluminium, the platform intends to expand in the future into other sectors such as specialised alloys, and later on, into other metals as well. For being the most energy-intensive industrial metal, aluminium is vital for the transition to a low-carbon economy. The vast majority of smelter use coal-fired power for producing primary aluminium. Some use renewable energy source and has long been calling for it to be...
The US dollar slid on Thursday, August 13, against some major currencies such as the euro, Swiss franc, and sterling, weighed down by the impasse in Congress about additional US stimulus to help cope with the coronavirus pandemic. Three-month LME aluminium also trended lower on Thursday, ending 1.2 per cent weaker at US$ 1,763.5 per tonne. As of Thursday, August 13, LME aluminium cash (bid) price and LME official settlement price stood at US$ 1738 per tonne, registering an increase of of US$ 8 per tonne on August 12. 3-months bid price and 3-months offer price grew from US$ 1766 per tonne to US$ 1774 per tonne. Dec 21 bid price and Dec 21 offer price came in at US$ 1849 per tonne. The LME aluminium opening stock declined to 1600525 tonnes. Live Warrants hovered at 1361000 tonnes, while...
Alcoa has reached an agreement with the workers’ representatives for the San Ciprián aluminum plant in Spain to extend the deadline of the formal consultation period for collective dismissal to September 28, 2020. The company said the agreement is endorsed by the national and regional governments It also includes a process to evaluate a potential sale of the 228,000 tons per year aluminium plant to GFG Alliance. “If a sales agreement is not reached by September 27, 2020, the Company and the workers’ representatives would then meet for one day on September 28, 2020, on the single topic of a social plan that would include government-supported unemployment benefits (ERTE), or, barring no agreement on an ERTE, the implementation of a permanent collective dismissal,” Alcoa said. The formal...
M.T. Abraham Group via its subsidiary Aluminij Industries d.o.o. and in cooperation with its international partners China Machinery Engineering Corporation and China Nonferrous Metal Industry's Foreign Engineering & Construction Co., Ltd. is launching its activities in Bosnia and Herzegovina, aiming at the reposition of Aluminij as a global aluminium leader. The news came after Aluminij Industries d.o.o. officially informed the Government of Bosnia and Herzegovina that its agreement has been accepted on August 5, 2020, and therefore the agreement has entered into force and its provision to be fully implemented. In early April, M.T. Abraham Group, Aluminij Industries d.o.o. and Aluminij d.d. Mostar had signed a lease agreement for the Mostar based company in Bosnia and Herzegovina. The...
According to the Shanghai Metals Market, the social inventories of primary aluminium ingots in China have continued to increase this week ending on Thursday, August 13. Data shows the inventories have built up 12,000 tonnes across eight major Chinese consumption areas, including SHFE warrants, to stand at 737,000 tonnes, primarily driven by significant stock expansion in Wuxi. On last Thursday, August 6, the primary aluminium inventories had grown by 13,000 tonnes over the week to come in at 725,000 tonnes. The growth in inventories this week marks the third consecutive weekly rise. The chart below indicates the current status of primary aluminium inventories across China in more details: As the above chart shows, the hike in primary aluminium inventories this week has not touched upon...
Hydro has allocated BRL 25 million for construction of technical school in Brazil, where Hydro’s Alunorte alumina refinery and Albras aluminium plant are located. The school, which will include an auditorium, libraries, laboratories, living areas, a theater for cultural activities, a multi-sport court and cafeterias, is expected to be completed by the end of 2021. The building will be donated to the Government of Pará, which will be responsible for the facility, operation and maintenance of the school. For this, the company has entered into an agreement with the Government of Pará to include the Barcarena School of Work and Production, which is among the initiatives of the Term of Commitment (TC), signed in September 2018. The initiative aims to strengthen professional technical training...
In view of the current global COVID-19 pandemic and travel restrictions, the organizing committee of International Bauxite, Alumina & Aluminium Society (IBAAS) has decided to postpone the 9th IBAAS International Conference & Exhibition (IBAAS-JNARDDC 2021) to October 27-29, 2021 from November 4 - 6, 2020. Except the changes in date and year, there will be no change in the venue, exhibition plan or post conference visits. The event, co-organized with Jawaharlal Nehru Aluminium Research Development & Design Centre (JNARDDC), India, will be held in Hotel Marriot, Raipur. The theme also remains the same - “Sustainability Challenges of Bauxite, Alumina & Aluminium Industry”. The organizing committee of the conference is formulating a world class program focusing on key topics and issues in the...
The Government of India’s Department of Promotion of Industry and Internal Trade (DPIIT) has presented short- and-long-term measures to turn India into a manufacturing hub for 20 champion sectors. As per our report, short and long term measures have been identified, which includes aluminium sectors among other industries by DPIIT. This has been a major push forward to the manufacturing industry that the present Government of India focus to become “Self-Reliant India” DPIIT has suggested having a separate policy on power for the energy-intensive aluminium sector, reduction of coal cess from Rs 500 per tonne to Rs 50 per tonne, and reduction in rail freight. In the long term, the suggestion is to have an import monitoring mechanism, quality control order, and utilise aluminium for rail...
RUSAL, a leading global aluminium producer, announced its results for the six months ended 30 June 2020. The company’s revenue decreased by USD721 million, or 15.2% to USD4,015 million in H1 2020 from USD4,736 million in H1 2019 due to lower LME aluminium price. Revenue from sales of primary aluminium and alloys reduced by USD559 million, or by 14.4%, to USD3,318 million, from USD3,877 million for the first half of 2019. Revenue from sales of alumina decreased by 28.8% year-on-year to USD242 million in H1 2020. Revenue from sales of foil and other aluminium products decreased by USD27 million, or by 13.2%, to USD178 million in the first six months of 2020 due to a decrease in sales of aluminium wheels between the comparable periods. Evgenii Nikitin, CEO of RUSAL, said: “Despite the...
Three-month LME aluminium settled 0.06% weaker at US$1,785 per tonne on Wednesday. Open interest added 5,151 lots to 804,000 lots. As of Wednesday August 12, LME aluminium cash (bid) price stands at US$ 1730 per tonne, LME official settlement price stands at US$ 1730 per tonne; 3-months bid price stands at US$ 1766 per tonne, 3-months offer price is US$ 1766 per tonne; Dec 21 bid price stands at US$ 1840.50per tonne, and Dec 21 offer price stands at US$ 1840.50per tonne. The LME aluminium opening stock stood at 1621400 tonnes. Live Warrants totalled 1372025 tonnes, and Cancelled Warrants were 249375 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 1760.53per tonne. SHFE Aluminium Price Trend Benchmark aluminium price for SHFE increased to stand at US$ 2091 per tonne...
