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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Hindalco Industries Ltd reduced its aluminium products price after raising it for the fourth time in a row. With effect from Friday August 7, Hindalco aluminium ingots price now stands at INR 148,250 per tonne, a decrease of 1% or INR 1,500 per tonne from INR 149,750 per tonne on August 6. The company is now selling its wire rods and billets at INR 159,350 per tonne and INR 155,350 per tonne with effect from Friday August 7 2020, registering a decline of INR 1,500 per tonne each from August 6. 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 declined so far in 2020 due to slower global demand following the coronavirus outbreak but have come off their recent lows....
A further decision on the future of the Tiwai Point aluminium smelter will be announced to staff in four to six weeks, as stated by Forsyth Barr, a New Zealand owned investment management services firm. The Tiwai aluminium smelter’s majority stakeholder, Rio Tinto, announced in June’20 that it planned to pull down the smelter by August’21 after failing to reach an agreement over the desired reduction in its power bills. Forsyth Barr said: “Electricity industry investors should assume the smelter would close by the end of August next year and that anything else would be an upside.” The New Zealand Government turned rigid that there would be no further government funds going into the smelter and that it would rather support Southland in creating new opportunities for the 1000 staff and...
Following the United States announcement to restore the 10 per cent tariffs on Canadian non-alloyed unwrought aluminium, Canada has decided to retaliate with counter tariffs on the US. The news came after Deputy Prime Minister of Canada Chrystia Freeland said in a statement that Canada intends to swiftly impose dollar-for-dollar countermeasures, in response to the American tariffs. She called the United States new tariffs “unwarranted and unacceptable,” noting that Canadian aluminium does not undermine U.S. national security but strengthens it. She added that these tariffs were the last thing that American and Canadian workers needed during the COVID-19 pandemic and ensuing economic crisis. According to Chrystia Freeland, the tariffs would bring in another toll on workers and regional...
On Thursday, August 6, the US President Donald Trump declared to reimpose 10 per cent tariffs on non-alloyed unwrought aluminium imported from Canada, as a measure to protect the US aluminium industry. Speaking in Ohio, Trump said these tariffs were necessary to defend the US aluminium industry as the imports from Canada surged above historical levels in recent months, despite a drop in US demand. The office of the United States Trade Representative pointed out that in May 2019, Canada was exempted from tariffs "on the basis of an agreement that imports of steel and aluminium products from Canada would remain at historical levels." In 2018, the US had imposed an additional 25 per cent tariffs on steel and 10 per cent on aluminium from Canada and other countries, which fuelled a...
Hindalco Industries Ltd has raised its aluminium products price for the fourth time in a row. With effect from Thursday August 6, Hindalco aluminium ingots price now stands at INR 149,750 per tonne, an increase of 1.35% or INR 2,000 per tonne from INR 147,750 per tonne on August 5. The company is now selling its wire rods and billets at INR 160,850 per tonne and INR 156,850 per tonne with effect from Thursday, August 6 2020, registering a hike of INR 2,000 per tonne each from August 5. 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 declined so far in 2020 due to slower global demand following the coronavirus outbreak but have come off their recent lows. Aluminium...
Vedanta has raised its aluminium products price for the fourth time in a row. With effect from Thursday, 06 August 2020, the prices of some aluminium ingots are in the range of INR 148,500-161,500 per tonne, an increase of INR 2,000 per tonne from INR 146,500-159,500 per tonne on August 5. With the latest hike, Vedanta’ billet now stands at INR 156,500 per tonne on August 6, a rise of INR 2,000 per tonne from INR 154,500 per tonne on August 5. 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 by...
The dollar rose on Thursday, taking a breather from its recent weakness. LME aluminium strengthened 0.99%. Three-month LME aluminium ended 0.99% higher on Thursday. The price stood at US$1,778 per tonne. As of Thursday August 6, LME aluminium cash (bid) price stands at US$ 1722 per tonne, LME official settlement price stands at US$ 1722 per tonne; 3-months bid price stands at US$ 1758.50 per tonne, 3-months offer price is US$ 1758.50 per tonne; Dec 21 bid price stands at US$ 1834.50 per tonne, and Dec 21 offer price stands at US$ 1834.50 per tonne. The LME aluminium opening stock stood at 1632325 tonnes. Live Warrants totalled 1374550 tonnes, and Cancelled Warrants were 257775tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 1768.95per tonne. SHFE Aluminium Price...
Following a steep fall last day, on August 6, the A00 aluminium ingot price has recorded a hike of RMB 70 per tonne to stand at RMB 14,720 per tonne, as of August 7, found Shanghai Metals Market. The average prices are expected to range between RMB 14,700 per tonne and RMB 14,740 per tonne, with spot contract to be traded at a premium price of RMB 30-70 per tonne, up by RMB 20 per tonne from the previous day. Among the major Chinese cities, Gongyi has seen a maximum surge in A00 aluminium ingot price of about RMB 165 per tonne to come in at RMB 14,740 per tonne. Wuxi has seen a growth of RMB 80 per tonne to RMB 14,730 per tonne, followed by Shenyang and Linyi, where the price has increased by RMB 75 per tonne and RMB 60 per tonne to respectively stand at RMB 14,735 per tonne and RMB...
According to Shanghai Metals Market, the social inventories of primary aluminium have extended their hike across eight major consumption areas in China, including SHFE warrants, on Thursday, August 6. The inventories have increased by 13,000 tonnes this week to come in at 725,000 tonnes versus the rise of 10,000 tonnes on last Thursday, July 30. The chart below indicates the current status of primary aluminium inventories across China in more details: However, except Nanhai and Hangzhou, the increase in primary aluminium inventories has not touched upon all the major Chinese cities. In Nanhai, the social inventories of primary aluminium have grown by 20,000 tonnes to come in at 202,000 tonnes and that in Hangzhou have inched up by 3,000 tonnes to stand at 98,000 tonnes. In Gongyi,...
The last meeting of the formal consultation period for collective dismissal at the Alcoa’s San Ciprián aluminium plant in Spain ended on 4 th August’20, without an agreement with the workers’ representatives. As per the Spanish regulations, Alcoa has up to 15 days as grace period from the end of the consultation period to announce a decision regarding the smelter’s 228,000 metric tonnes of annual capacity. Alcoa and the San Ciprián Works Council have been meeting throughout the formal consultation period, which began on 25 th June’20, to discuss a proposed restructuring that aims to stop persistent and recurring financial losses at the smelter and find a solution for both the Company and its workers. The Company proposed multiple proposals to the workers’ representatives, including a...
The United States-based primary aluminium producer Century Aluminium Company announced its second quarter results on Wednesday, August 5, mentioning an increase in primary aluminium shipments by 3.65 per cent quarter-on-quarter. According to the report, the shipments in Q2 2020 increased from 202,905 tonnes in Q1 to 210,309 tonnes. Net sales, however, reflected a downtrend from $421.2 million in Q1 to $401.9 million in Q2, primarily attributing to lower LME prices and regional premiums. Century’s shipments from the United States were 130,645 tonnes in Q2 versus 129,114 tonnes in Q1, while its shipments from Iceland were 79,664 tonnes in comparison with 73,791 tonnes in Q1. The company's sales in the United States decreased from $273.8 million in Q1 to $246.6 million in Q2, but that in...
The A00 aluminium ingot price has recorded a steep fall of RMB 270 per tonne today, August 6, to RMB 14,650 per tonne, found the Shanghai Metals Market data. The average prices are expected to range between RMB 14,630 per tonne and RMB 14,670 per tonne, with spot contract to be traded at a premium price of RMB 10-50 per tonne. Foshan and Chongqing have seen the highest decline today of RMB 280 per tonne to RMB 14,590 per tonne and RMB 14,530 per tonne, respectively, followed by Wuxi, where the price has plunged by RMB 270 per tonne to RMB 14,650 per tonne. In Gongyi and Tianjin, the price has decreased by RMB 245 per tonne and RMB 240 per tonne to RMB 14,575 per tonne and RMB 14,670 per tonne, respectively. The A00 aluminium ingot price in Shenyang and Hangzhou has grown by RMB 235 per...
The US dollar was under pressure on Wednesday, August 5, from a towering euro and crumbling US yields, as the latest coronavirus relief package got bogged down in Congress and investors braced for a bumpy ride to economic repair. Three-month LME aluminium shed 0.42 per cent to end at US$ 1,760.5 per tonne on Wednesday in choppy trading. Open interest added 10,443 lots to 797,000 lots as shorts added positions. Both LME aluminium cash (bid) price and LME official settlement price, as of Wednesday, August 5, jumped from US$ 1709.50 per tonne to US$ 1739 per tonne, marking the highest in last six months. 3-months bid price and 3-months offer price stood at US$ 1778.50 per tonne, registering a hike of US$ 30 per tonne from US$ 1748.50 per tonne on August 4. Dec 21 bid price and Dec 21 offer...
The Indian aluminium industry body, Aluminium Association of India (AAI), on 4 th August’20, appealed to the Finance Minister and Commerce Minister of the country to sustain with the processing of MEIS (Merchandise Exports from India Scheme) applications through DGFT MEIS Portal and continuation of MEIS scheme with improved rate from 2% to 5% for all aluminium products to abide the current economic situation. The letter was sent to evoke the Government anticipating slashing the fund's outlay for MEIS (Merchandise Exports from India Scheme) from around INR 45,000 crore in FY 2019-20 to INR 9,000 crore for April-December’20 and diverting these funds for other purposes. Onwards 23 rd July, the DGFT has also blocked the MEIS module from accepting new applications to limit the issuance of any...
Vedanta hikes its aluminium products price for the third time in a row. With effect from Wednesday, 05 August 2020, the prices of some aluminium ingots are in the range of INR 146,500-159,500 per tonne, an increase of 1.74% or INR 2,500 per tonne from INR 144,000-157,000 per tonne on July 30. With the latest hike, Vedanta’ billet now stands at INR 154,500 per tonne on August 5, a rise of INR 2,500 per tonne or 1.64% from INR 152,000 per tonne on July 30. 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 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...
As the aluminium industry is evolving rapidly across the world with fast-paced developments taking place in its entire value chain, and more so now due to the COVID-19 outbreak, it would be completely worthwhile to take a look at some of the potential trends and developments in the global aluminium sector that are likely to emerge in this decade. So, here is AlCircle’s new Sector Focus Report on the topic - “ Global Aluminium Industry – Key Trends to 2030” . 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 the sectors starting from bauxite to recycled aluminium. Technology & Industry 4.0 has certainly got a special attention in the report, as it...
Hindalco Industries Limited has extended its aluminium ingot and aluminium product price hike for the third time in a row with effect from Wednesday, August 5. According to the price listed by Hindalco, the aluminium ingot price is now standing at INR 147,750 per tonne, up by INR 2,500 per tonne or 1.72 per cent from INR 145,250 per tonne on July 30. The price of Hindalco’s aluminium wire rod is now at INR 158,850 per tonne, registering a hike of INR 2,500 per tonne or 1.60 per cent from INR 156,350 per tonne. The company’s aluminium billet price has also been raised by the same amount or 1.64 per cent from INR 152,350 per tonne to INR 154,850 per tonne. Like any other major Indian aluminium producers, Hindalco links its aluminium prices to the three-month futures of the metal on the...
Three-month LME aluminium finished the day 1.35% firmer at $1,768 per tonne on weaker US dollar index. As of Tuesday August 4, LME aluminium cash (bid) price stands at US$ 1709.50 per tonne, LME official settlement price stands at US$ 1709.50 per tonne; 3-months bid price stands at US$ 1748.50 per tonne, 3-months offer price is US$ 1748.50 per tonne; Dec 21 bid price stands at US$ 1825.50 per tonne, and Dec 21 offer price stands at US$ 1825.50 per tonne. The LME aluminium opening stock stood at 1642050 tonnes. Live Warrants totalled 1383175 tonnes, and Cancelled Warrants were 258875 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 1744.50 per tonne. SHFE Aluminium Price Trend Benchmark aluminium price for SHFE increased to stand at US$ 2148 per tonne on Wednesday, 5...
