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 declined by RMB 20 per tonne from Tuesday’s price of RMB 14470 per tonne. The price now stood at RMB 14450 per tonne on Wednesday, 12 August and is expected to move within a range of RMB 14430-14470 per tonne. This marks the third consecutive rise in aluminium ingot price. In Foshan and Wuxi, the price inched down by RMB 10 per tonne and RMB 30 per tonne to stand at RMB 14370 per tonne and RMB 14440 per tonne. Their average prices are expected to range within RMB 14350-14390 per tonne and RMB 14430-14450 per tonne. Aluminium prices in Hangzhou and Chongqing came in at RMB 14440 per tonne and 14310 per tonne, down RMB 30 per tonne and RMB 20 per tonne. Aluminium ingot prices in Shenyang, Tianjin, and Gongyi declined to stand at RMB 14485 per tonne, RMB 14490 per...
The US dollar fell from one-week highs on Tuesday, August 11, as investors flocked to currencies that benefit from an improving global market outlook. Three-month LME aluminium finished the day 0.17 per cent firmer at US$ 1,786 per tonne on Tuesday. As of Tuesday, August 11, both LME aluminium cash (bid) price and LME official settlement price increased by US$ 19.5 per tonne to stand at US$ 1749.5 per tonne, following a decline of US$ 14 per tonne on the previous day. 3-months bid price and 3-months offer price rebounded to US$ 1786 per tonne, while Dec 21 bid price and Dec 21 offer price came in at US$ 1860 per tonne. The LME aluminium opening stock continued to decline from 1621400 tonnes to 1617175 tonnes. Live Warrants hovered at 1361200 tonnes, while Cancelled Warrants at 255975...
Hindalco Industries Limited has reduced its aluminium ingot and aluminium product prices with effect from Tuesday, August 11, following a hike on August 8. The company is now selling its aluminium ingot at INR 14,900 per tonne, down by INR 1,250 per tonne or 1 per cent from INR 150,250 per tonne on August 8. With the latest reduction, Hindalco’s aluminium wire rod price has come in at INR 160,100 per tonne, while earlier the price was at INR 161,350 per tonne on August 8 – a decrease of INR 1,250 per tonne or 1 per cent. The company’s aluminium billet price is now at INR 156,100 per tonne versus INR 157,350 per tonne on August 8. 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...
The British metal tycoon, Sanjeev Gupta owned Liberty House Group, part of GFG Alliance, has hinted their interest in acquiring Alcoa’s San Ciprián aluminium smelter in Spain, as per Industry sources. Alcoa has already declared an informal process with the workers’ representatives to discuss collective dismissals at San Ciprián on 28 th May’20. This is not the first time Sanjeev Gupta has shown interest in the acquisition of closedown metal plants. However, Alcoa management announced in the previous week that the formal consultation period for collective staff dismissals at the Spanish aluminium smelter ended on 4 th August’20 without any agreement with the workers’ representatives. The Industry sources said: “We hear that Liberty is interested in it and happy to step in and buy it. It...
Vedanta has reduced its aluminium products price after raising the price of same products on 8th August. With effect from Tuesday, 11 August 2020, the prices of some aluminium ingots are in the range of INR 147,750-160,750 per tonne, marking a decline of INR 1,250 per tonne or 0.84% from INR 149,000-162,000 per tonne on August 8. With the latest decline, Vedanta’ billet now stands at INR 155,750 per tonne on August 11, a drop of INR 1,250 per tonne from INR 157,000 per tonne on August 8. 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...
“Press Metal Aluminium Holdings Bhd is expected to post stronger earnings in the next two years as aluminium prices are likely to strengthen on better demand,” according to UOB Kay Hian Research. The research firm has increased its earnings forecasts for Press Metal for the financial years ending 31 st Dec’20 (FY20) and FY21 by 4% and 16%, respectively, to account for higher spot aluminium and alumina prices, which it expects to be partially offset by weaker US dollar against the Malaysian ringgit. UOB Kay Hian said: “It is assuming higher spot aluminium prices of US$1,685 per tonne and US$1,750 per tonne for 2020 and 2021, respectively.” The post complete down period has depicted that London Metal Exchange aluminium prices have been recovering at around US$1,778 per tonne presently from...
Showing grief and disgust, Canada’s manufacturing industry has condemned the new aluminium import tariffs imposed by the Trump Government. They are worried about the adverse economic impact that the tariffs may cause, slowing the recovery from the COVID-19 pandemic. Industry experts and groups, which represent companies whose supply chains rely heavily on aluminium, call the new tariffs “unjustified and unnecessary.” “It’s very disheartening that the U.S. would take this action,” said Dennis Darby, chief executive of the Canadian Manufacturers and Exporters, which represents more than 2,500 manufacturers across the country. “The last thing that any industry needs right now is extra costs,” he added. He fears the tariffs will hurt the efforts putting in for restoring the Canadian and...
Three-month LME aluminium rose 1.34% to end at US$1,783 per tonne on Monday. Open interest declined 2,494 lots to 799,000 lots as shorts reduced positions. As of Monday August 10, LME aluminium cash (bid) price stands at US$ 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 decreased to stand...
The A00 aluminium ingot price has continued to decline in China by RMB 110 per tonne to stand at RMB 14,470 per tonne, as of Tuesday, August 11, according to the Shanghai Metals Market. Data shows the average prices 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 70-110 per tonne, up by RMB 20 per tonne from the previous day. Linyi has seen the highest downfall in primary aluminium ingot price today among all other major Chinese cities. In Linyi, the price has decreased by RMB 170 per tonne to RMB 14,610 per tonne, followed by the decline of RMB 140 per tonne in Gongyi to RMB 14,450 per tonne. The price in Wuxi and Hangzhou has declined by RMB 120 per tonne to come in at RMB 14,470 per tonne, while that...
The announcement for the imposition of 10% surtax on Canadian aluminium by the Donald Trump administration has incited strong reactions from Canada. The management of Alcoa Canada that has been operating an aluminium smelter in Baie-Comeau, is highly disappointed with this decision as it will unsettle markets. Michel Desbiens, the President of the union at the Baie-Comeau plant said: “Enough of this uncertainty that hangs over year after year. This is the second time that these tariffs have been imposed on Canadian aluminium production. They were lifted in May 2019 after being in effect for a year.” Desbiens also said: "It's getting tiring to always have a sword of Damocles over your head repeatedly since the start of President Trump's mandate. Especially since, what he wants to do, it...
Shanghai Metals Market found China’s primary aluminium production rose by 1.83 per cent year-on-year to 3.12 million tonnes in July 2020. On a month-on-month basis, the output edged higher by 4 per cent from 3 million tonnes in June 2020. Data shows there were 41.41 million tonnes among 41.23 million tonnes per year of existing primary aluminium capacity in operation at the end of July. This increased by 12.65 per cent from 36.76 million tonnes of capacity in operation in June-end. Operating rates hiked by 0.5 percentage point to 89.5 per cent as increase in primary aluminium ingot prices encouraged newly commissioned and resumed capacities to ramp up. In the first seven months of the year, China’s primary aluminium output amounted to 21.13 million tonnes, up by 2.76 per cent from the...
Aluminium Bahrain (Alba) supports Bahrain's COVID-19 mitigation efforts, developing and fostering its community engagement initiatives. It covers support to the ‘Convalescent Plasma Donation Programme’ at the BDF Royal Medical Services (BDFRMS), led by Major General (Prof) Shaikh Khalid bin Ali Al-Khalifa, Director of the Royal Medical Services. Mr. Ali Al Baqali, CEO of Alba, and Mr. Mohd. Khalil, Director of Safety, Health and Environment at Alba, met with Brigadier Dr. Abdulla Darwish, Technical Assistant to the Director of the Royal Medical Services at the Bahrain Defence Force (BDF) Hospital, to strengthen collaboration on the coronavirus (COVID-19) response. Alba’s Chief Executive Officer Mr. Ali Al-Baqali said: “We are all in this together. It is a matter of great pride for Alba to...
A00 aluminium ingot price registered a drop after an increase of RMB 70 per tonne. The price reduced by RMB 140 per tonne to stand at RMB 14580 per tonne on Monday, 10 August 2020 and is expected to move within a range of RMB 14560-14600 per tonne. In Foshan and Wuxi, the price declined by RMB 150 per tonne and RMB 140 per tonne to stand at RMB 14480 per tonne and RMB 14590 per tonne. Their average prices are expected to range within RMB 14460-14500 per tonne and RMB 14580-14600 per tonne. Aluminium prices in Hangzhou and Chongqing came in at RMB 14590 per tonne and 14440 per tonne, down RMB 150 per tonne and RMB 135 per tonne. Aluminium ingot prices in Shenyang, Tianjin, Linyi, and Gongyi dropped to stand at RMB 14610 per tonne, RMB 14600 per tonne, RMB 14780 per tonne, and RMB 14590 per...
Three-month LME aluminium fell by 1.04 per cent to end at US$ 1,759.5 per tonne on Friday as the dollar index strengthened. Open interest added 2,430 lots to 802,000 lots as longs added positions. The contract is likely to trade between US $1,740-1,800 per tonne today. As of Friday, August 7, both LME aluminium cash (bid) price and LME official settlement price stood at US$ 1744 per tonne, up by US$ 22 per tonne from to US$ 1722 per tonne on August 6. 3-months bid price and 3-months offer price rebounded to US$ 1780 per tonne, following a downfall of US$ 21.50 per tonne to US$ 1758.50 per tonne on the previous day. Dec 21 bid price and Dec 21 offer price came in at US$ 1858.50 per tonne. The LME aluminium opening stock declined from 1632325 tonnes to 1626850 tonnes. Live Warrants hovered...
Canada has declared $2.7 billion tariffs on US aluminium products following the day after US President Donald Trump imposed a 10% tariff on some Canadian aluminium products. However, Canada and the USA outstretched a deal last year to lift tariffs on aluminium imports that had been enforced on grounds of national security. On 6 th August’20, Trump administration reinstituted them to protect the US industry. The retaliatory tariff declared by Canada will start its effect from 16 th September’20. The counter steps were made public after Deputy Prime Minister Chrystia Freeland formerly promised a "dollar-for-dollar" fight. She said: "At a time when we are fighting a global pandemic. A trade dispute is the last thing anyone needs - it will only hurt the economic recovery on both sides of the...
Vedanta has raised its aluminium products price after cutting it on 7th August. With effect from Saturday, 08 August 2020, the prices of some aluminium ingots are in the range of INR 149,000-162,000 per tonne, an increase of INR 2,000 per tonne from INR 147,000-160,000 per tonne on August 7. With the latest hike, Vedanta’ billet now stands at INR 157,000 per tonne on August 8, a rise of INR 2,000 per tonne from INR 155,000 per tonne on August 7. 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 fourth quarter of FY20...
National Aluminium Company Limited has continued to increase its aluminium ingots and products prices for the third time in a row, with effect from Friday, August 7, 2020. Nalco’s aluminium ingots price is now standing at INR 148,750-152,250 per tonne, up by INR 3050-3100 per tonne or 2.09 per cent from INR 145,700 – 149,150 per tonne on August 1. The price of aluminium wire rods has also been raised by INR 3,100 per tonne or 2.08 per cent from INR 149,150-153,500 per tonne to INR 152,250-156,600 per tonne. Nalco, on the other hand, is selling its aluminium billets price at INR 152,200-154,850 per tonne since the latest hike. This registers an increase of INR 2,850-3,100 per tonne or 1.9-2.04 per cent from INR 149,350- 151,750 per tonne on August 1. Like any other major Indian aluminium...
The American President Donald Trump on 6 th August’20 declared the re-impose of Section 232 aluminium tariffs on Canada to stop an unusual surge of imports from Canada. Over the past twelve months, Canada’s imports of unalloyed primary aluminium to the United States have increased by over 95%. Michael Bless, President and CEO, Century Aluminum Company, praised the President’s action: “President Trump’s action demonstrates this administration’s continued dedication to restoring the U.S. aluminium industry and American jobs. As policymakers focus on shoring up our manufacturing base and enhancing supply chain resiliency, the President’s leadership helps to secure continued domestic production of this vital strategic material and level the playing field for thousands of American aluminium...
